We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Ragnarr,
When you say dedicated leadership - are we talking about the same company here… This is pendulum who have missed pretty much every single deadline they’ve set on their roadmap.
My side of the coin is based on their fundamentals - do you have any more to elaborate on your point about them being dedicated rather than just your word?
For a lot of people in the crypto space, crypto becomes an obsession for them - no doubt these guys are the same but just because someone has an obsession with something does not necessarily mean they are good at it
please don’t use the ‘blockchain is complicated’ get out of jail free card. I accept blockchain and cryptography is complex and in its infancy, but in a sense it’s not really is it … cryptos have been around for almost 15 years now
Slug - I have to disagree with your perspective of the Pendulum leadership. From my personal experience, the people involved are completely dedicated to realising their fiat-defi vision of Pendulum and the potential it has. However i do understand your reluctance to accept this. As a person of a certain age it has taken some time try to understand the way of thinking of the completely new concept of crypto and the mindset of the people progressing this ‘brave hew world’.
Whether they are right or wrong I do not question their commitment.
NtD
Also in response to your earlier post, whilst I agree with you on the fact that they should be going to different parts of the world, forging business partnerships and signing contracts, are they really doing this ?
It’s one thing going out there and winning business, but it’s another just to go for a jaunt and meet like-minded brainwashed crypto geeks to ratify each others opinion about how blockchain is going to take over the world - it’s the life of Riley for them
Honestly , I think these lot are just out for a jolly
The reason I think this is because of all the previous overseas excursions they’ve done before the Brazil trip… Kyiv, Dubai, Switzerland, Mexico, (I’m sure they also went to Tokyo within the last two years) just to name a few, absolutely nothing whatsoever has come of any of those visits
no wonder they are looking for an investor with deep pockets (November 2023 RNS)
flights & pints & all expenses paid, courtesy of the company coffers
Thanks Ragnarr, however quite a few of the points (albeit in their words) are just the basics of how DLT works
I have no real queries on their tech, perhaps because it’s took them a bloody age to allegedly perfect what that are doing- it’s moreso the business side I am concerned about - who their clients are going to be - what contracts & payment corridors they have lined up to actually start generating substantive revenue themselves.
If my memory serves me right they had an attack on Pendulum on 12/4/23 as I remember the PEN price crashing momentarily on this day - as long as they’ve learnt from that mistake then I have no qualms with what happened.
I note the point other posters have made about Satoshipay not having to reveal their hand, 1) because they are not listed and 2) so that competitors won’t know what they are up to, but until that substantive news hits, it’s still a case of the emperors new clothes
Over on the Pendulum discord channel there was a really good explanation posted of what Spacewalk is aiming to achieve - thought some here may be interested in it.
When referring to Spacewalk as "Trust-Minimized," it signifies that the bridge reduces the amount of trust placed in any single entity during the bridging process. This translates to several advantages compared to traditional bridges:
Reduced reliance on centralized parties: In conventional bridges, a central authority often controls crucial aspects like asset custody and transaction validation. This introduces a potential vulnerability if the central party is compromised or malfunctions. Spacewalk aims to minimize this reliance through:
Multi-signature threshold: Transactions require approval from multiple independent validators, distributing trust and preventing any single entity from manipulating the bridge.
Decentralized oracle network: Price feeds and other data used for bridging come from multiple independent oracles, reducing reliance on a single source of information.
Open-source code: The codebase is publicly available, allowing anyone to inspect and verify its functionality, fostering transparency and community trust.
Enhanced security: By minimizing trust in any single entity, Spacewalk aims to make it more difficult for attackers to exploit vulnerabilities. Additionally:
Formal verification: Critical parts of the code undergo rigorous formal verification processes, mathematically proving their correctness and reducing the risk of hidden bugs.
Post-quantum cryptography: Spacewalk utilizes advanced cryptography resistant to future advancements in computing power, making it more secure against potential attacks in the long run.
Potential benefits over other bridges:
Increased trust and transparency: Reducing reliance on centralized entities can make users feel more secure about their assets and the overall fairness of the bridge.
Enhanced security: The combination of trust minimization and advanced security measures could potentially make Spacewalk more resistant to attacks than traditional bridges.
Decentralized future: Spacewalk's focus on decentralization aligns with the broader trend of Web3 and DeFi, potentially making it a well-positioned bridge for future developments.
However, it's important to remember:
Spacewalk is still under development: While promising, it's crucial to acknowledge its relative novelty and the inherent risks associated with using any new technology.
Trade-offs might exist: Minimizing trust can sometimes lead to trade-offs in terms of efficiency or scalability. Thorough research is essential before using any bridge.
I hope this explanation clarifies the meaning of "Trust-Minimized" in the context of Spacewalk and highlights its potential advantages. Remember, conducting your own research and understanding the associated risks are crucial before using any bridge or engaging in any DeFi activity.
Also been here what seems like forever. Sadly bought in on the initial excitement over blockchain and am also 70+% . Selling at these prices is futile even if I am becoming ever increasingly pessimistic. I’m surprised Thee Duke has sold given he must be taking a really big hit! We should know more as we approach the end of March. Fingers crossed for some good news.
Got bored by then.........
Yes ntd
Partly
Im 60% down
I’ve waited over 6 years so may as well sit it out now
"When mainnet? And when it arrives, will it impress Mr Market?" - totally agree and some of this is why they went to Brazil in particular - South America is a key region for these products. It's galling but you have to go where the opportunity is and for Defi this is global. You cant just get a stall in the local market - i know you know this but, well, but you still throw this one out - if they weren't going to the events I would be more upset tbh.
I am by no means a permabull, (though I was fortunate to have a low entry price) but if I found that I had really ran out of positives I would sell and go. However my gut tells me there is something in Dynasty worth waiting for and that Satoshi is in the lottery draw and as such you never know.
I guess deep down you have the same view hence still here despite that in many places hard to refute list in the thread. So, deeeep down, somewhere really deep there is fomo keeping you here and is such, you may need to sit down for this bit, you are somewhat bullish - HA! I look forward to celebrating our cashing out of here together sometime soon - maybe with a penny or two (kidding).
AtB
NtD
You clearly didn’t read the second to last paragraph in my last post
Slugmum, so sell and go away......you really must if that is how you see things.......
Contd…
They’ve spun us a yarn in the past about how many clients/customers they’ve got lined up for their next hit product, & with that in mind, I’ll be very skeptical about any information provided from them to BLU and subsequently released to the market.
And yes…. In before anyone tells me to sell… I’m not prepared to sell at a circa 60% loss
Let’s see where the price is at the end of March, because at that time, Tony’s self imposed deadline is up
There hasn’t been anything really convincing released by the company within the last 3-4 months, nor have any perma-bulls on here given any substantive reasoning to suggest things are going to progress anytime soon. Wild price predictions into the pennies with no justification to back it up do not count.
The RNS releases which came out in Q4 of last year really were the best Tony could come up with. Tony’s objective in 2023 was to obtain valuations for our two biggest holdings. We are almost in March 2024 and we don’t have valuations for either of them, despite Dynasty recently raising funds.
Satoshipay might be well funded from their grants and raises but the fact of the matter remains that their expenditure has been out of control for years now.
I’ve said this before but a case could be made that because their cash balance hasn’t been ‘earnt’ through hard graft, they have an ‘I don’t care’ attitude towards their spending.
Like a spoilt brat being given their daddies credit card
And don’t tell me they are in early stage development… it’s Satoshipays 10 year anniversary this year… 10 years of handouts and little by way of results… no wonder we’ve had this constant selling pressure
I maintain my original viewpoint from December. If Satoshipay was hot property, benchmark would have had some interested parties by now.
Sod benchmarks prospectus on Satoshipay
I’ll do one here
FOR SALE
- Business which specialises in creating products which there is little demand for (taken from Glassdoor review)
- Comes with a big monthly cash burn (30+ staff noted on satoshipays website)
- No meaningful revenue streams (they’ve got micropayments, that’s it, micropayments = micro revenues)
- Hugely behind on roadmap and business milestones (check pendulum website to see that)
- Specialises in dragging out projects in order to take as much investor money off the table as possible (nabla is what, at least 12 months overdue)
- No evidence of strong leadership (if this next offering is the next big thing, why isn’t their leadership shouting from the rooftops about it?)
- Haemorrhages cash on pointless excursions abroad (Brazil trip last year to name one)
- Promises jam tomorrow (check Reddit/Twitter pages)
- (Speculation) We have no asking price- Make us an offer (open invitation to time wasters)
You get the picture
Some time ago, for a while we did actually correlate with Bitcoins price
When Bitcoin was $30k, BLU was 0.3p
When Bitcoin was $20k, BLU was 0.2p
And so on
However the massive divergence we now see is worrying
Bitcoin $52k, BLU is 0.08p
Whilst we have no tie ins with Bitcoin whatsoever, like it or not, Bitcoin is the lead indicator of the crypto market, as is gold with the commodities market
When mainnet? And when it arrives, will it impress Mr Market?
They’ve spun us a yarn in the past about how many clients/customers they’ve got lined up for their n
Ah! Looks like it is! Never occurred to me somebody would be T trading here.
That's quite obviously a rollover........
Looks like Mark still has a few left... Wonder where they are all going?
Testnet Alpha finished - another step forward
https://app.nabla.fi/
I have to be honest, I think it was Dukes buying that formed the cornerstone of the last rise towards 0.5. Albert makes a good point that there must be buyers at the prices we see ourselves at.
Nothing materially changed for me yet - not adding or selling at these levels or indeed any levels till there is a little more info doing the rounds - either through updates or further market launches by Pendulum / Nabla / Amber / Satoshipay etc.
I was a shareholder previously from 0.12p to the late 0.2p's...but missed the ride to 0.5p.
I bet Mark wished he had sold then, but Satoshipay was supposed to be worth masses.......maybe it still is worth a great deal more than its book value......even if nought, Dynasty covers the Market cap.....and seem to be progressing.....
I doubt Satoshipay is worth £0.........
Dipped my toe in, did a bit more research and got more confident.... :-)
"the shareholder participating in the Fundraise will receive a warrant allowing the holder to subscribe for ordinary shares in the Company, on a one to one basis, at an exercise price of 0.1 pence for an exercisable period of 3 years, expiring on 17 January 2027 ("Warrants"). The Warrants are not subject to any other performance criteria.
Additionally, in line with the Fundraise and to facilitate immediate free cash to be used for working capital purposes and to assist in delivering the strategy of the Company, the Directors of Blue Star have agreed to receive their remuneration in ordinary shares in the Company, in lieu of cash, on the same terms as the Placing Shares, which include Warrants, for the period between 1 February 2024 and 30 September 2024."
So, is this one shareholder, Mark White and why he sold down or the other large shareholder or a new shareholder....?
And I take comfort that Directors are taking shares at 0.1p instead of cash, but they do get the advantage of free warrants....free because they will only exercise when they can sell at a profit.......
...and what about another 3,432,479........because only valued at 40% of previously published Net Assets.
...and another 1,432,902.
...awaiting Satoshipay valuation and update on Dynasty progress.....whatever happened to its flotation.....?
Exactly! Good point!
If The Duke went from 7.6% to under 3% he sold at least 230 million shares.
Market makers wouldn't absorb that number without completely crashing the price, so surely someone must have bought them.