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It’s an incredibly dire situation for shareholders
We are heading on for yet another week down the swanee
Sadly , Blu is hollow on the inside
0 trades today
Slug, it will have to be some miracle for me to even break even at 91% down. I’d be happy to get out of here with 50% of my investment.
Evidence suggests just from looking at satoshipays various websites or even their LinkedIn pages that they have an abundance of staff members - all of which need paying every month
Secondly, you could see their companies house annual published losses - there is a trend of the loss figure increasing YoY for the past 5-6 or so years
You are indeed correct - Cycle flow have indeed invested in nabla - but the amount of different businesses Satoshipay has conjured up is beyond ridiculous - i think it was confirmed a while ago that pendulum were going to pay Satoshipay - or the other way round- talk about robbing Peter to pay Paul
It’s also for the purpose of swooning new investors (smoke and mirrors) with a new business name, as well as new concept to get them to part with their money
Cycleflow have kept nablas (satoshipays) lights on for a bit longer .
Let’s see if they are able to perform a miracle
No point selling for scraps now, I’ll go down with this ship after nearly 7 years
*agreed
Hi Slugmum,
Thank you - I see where you are getting your train of thought. However to my way of thinking the two comments are separate
1.They are still looking for more money
2.Burning through cash at the rate of knots.
Yes to 1 - greed from the RNS but point two is you inferring they are spending more - they may be going slower to remain within budgeted parameters. There is a difference between wanting to go faster and actually going faster.
In the last accounts didnt they have an element of income for SP - my assumption is they are trying to stay within that spend envelope.
This next point, shows my weakness of knowledge. I thought Cycleflow Capital were investing in Nabla - this is an AMM on Pendulum but I thought was a separate entity to Pendulum and therefore SatoshiPay. I know the whole PEN ecosystem is looking to Nabla but technically Cycleflow arent giving any capital to SP as I understand it. Happy to be corrected here - so apologies if i have this wrong.
Taken from 15/11/23 RNS
To quote
“SatoshiPay has made significant progress in recent years, it would benefit from an investor better equipped both financially”
They are still looking for more money
Burning through cash at the rate of knots
you’ve taken my quote out of its context… as I went on to mention cycle flow who have likely just saved Satoshipay from extinction
Being negative is one thing- its a projection of the authors viview and all of us can do this. However Slugmum you now say "Satashipay is on its last legs" - what is your reasoning for that statement - I dont have that view at present - they may not be moving at a pace you would like but you now call into question their going concern - based on what if I may ask?
The point is, most of BLUs investments are now basically dead in the water
Satoshipay is on its last legs, albeit a microscopic grain of optimism has appeared, in the form of cycleflow capital, purely for the fact that their investment helps keep satoshipays lights on just a little bit longer.
Not saying they have made a good investment decision, they might be even bigger mugs than we are
Who knows
Keith has written the investment off so in his books he is already 100% down and probably moving on. I have not written it off but my investment case is in tatters - however I am not selling as I retain a glimmer of hope for Pendulum. If I felt otherwise I would sell. So I try and look for the positives to come, or sell - there is no money made dwelling in the past failures. Pain is inevitable, suffering is optional I believe - I have sufferred financial pain but I dont need to keep rehashing and picking at it to continue in sufferance.
Keith the sad thing is, if Satoshipay don’t pull their finger out pretty damn quick, we will all be 100% down.
It’s BLUs only card left to play
Barely anyone even wants BLU at 0.03p
It’s not even as though anyone can convincingly justify that BLU is undervalued with a market cap of £1.66 million
Tony wasn’t able to get a valuation of Satoshipay in 2023, either that or he did get a valuation but it wasn’t the valuation what either he or the market wanted to hear (highly likely)
We are odds on for yet another week ( and month, and quarter) down the swanee
Totally agree Slugmum. I’m 92% down having been here for what seems like a lifetime. What actual real progress has been made? Dynasty dive bombed and was the golden nugget of the esports investments. Satoshipay seem to be able to raise funds while seemingly offering ‘jam tomorrow’. However ‘tomorrow’ is still aspirational even after all these years. I’ve written off this investment, even though a substantial sum for me. However, little point in selling at these levels.
No doubt when Satoshopay let BLU down for the next / final time, it will be time to take stock and question whether it is even worth BLU having a listing
Most of the esports companies investments have flatlined
Guild has lost circa 90% of its value in the last three years (David beckham fans - where is he now? Oh wait, he lined his pockets and got the f out of there)
Dynasty has did a ‘hero to zero’ on their valuation - too many vanity deals which in reality were evidently not really worth anything - pure bravado
They were our two best esports hopes
FinGo investment down the Swanee almost with £50k now being worth £13k (it’s almost a waste of time me typing about this)
Satoshipay will soon put the final nail in the coffin - the one slight glimmer of hope is that Nabla appear to have secured some funding from cycleflow capital (many thanks Ragnar) yet from where I’m sat it won’t take them for long for cycleflow to wise up and pick up on the fact that satoshipay are leeching from every single form of cash handout they can get their hands on. Perhaps they haven’t picked up on this with all the new nonsensical business names they’ve conjured up - all whilst claiming each one is compulsory for the companies survival, because they are solving problem x, or y, and so on
At 85%+ down I won’t bother selling for scraps
I might be 99% down come summertime and il be wishing I sold at an 85% loss
Satoshopay are 10 years old in December. I suspect the amount of money they’ve burnt through over that period is staggering. My educated guess is that it’s got to be over 30 million euros
Farcical
Surprise surprise…. Yet another week down the swanee
A quick look at their 2024 roadmap says it all
https://pendulumchain.org/
For info - Cycleflow Capital have recently invested in Nabla
https://cycleflow-capital.bullet.site/about-us/
Sorry - Never been in the business of predicting prices - early crypto projects like this can easily go stratospheric but can just as easily crash and burn. Now that Spacewalk is live (albeit still needing tweeks) and Nabla launching sometime in Q3 the next six months will give a better indication of gaining traction. The general Crypto market should see the next run upwards probably from around June/July so if PEN/NABLA is going to move it should Q3/4. From a personal point of view (as much as I like the project) if things havnt moved substantially by end of the year / early 2025 I will be moving out crypto in general as the top will have probably been hit.
All just my thoughts - no advice intended
I invested for the esports but will freely admit that is a long gone tenet for holding this share. However I do hold some optimism (albeit from a fairly uninformed side) as to the PENdulum prosects of success.
Just putting this out there -i suspect there are a few others in this frame of mind who may appreciate a post that isnt so negatively framed.
If I didnt have a whiff of hope I would sell and move on...
No response from any of the satoshipay suckups either
I am picturing the suckups standing outside of satoshipays head office guarding the door each with a cardboard cutout sword and shield, brainwashed by meinhard himself shouting from the window that they will become a unicorn & with that bigger than Paypal
5 years later… where are they
I doubt they have done anything whatsoever to curtail their astronomic monthly spending. I’d actually wager that their spending has increased in the last 12 months
The pen chain raise was like a lottery win for them - they will be emptying the company coffers of every last cent
How ironic…. Having created so much money… to not be worth anything in money
Emperors new clothes until proven otherwise
Apologies, it was the 21/3/24 RNS which Tony mentioned about the future of the company being discussed , this is after the dynasty news tanked the share price
This share is on deaths door
For Tony to be putting in clauses about ‘discussing the future of the company’ within the Dynasty RNS speaks volumes
There used to be a lot of posters from here, now theres hardly any contribution whatsoever
No point in selling now at 85%+ loss
Can satoshipay reverse the impending extinction of blue star capital?
As per Slugmum - "They are at least smart enough to wring every last euro out of the business under the guise of ‘salaries’"
I reckon this is really where a lot of AIM businesses are, never an end product or sustainable revenue, just jam tomorrow
GLA
My price prediction is largely irrelevant
Ragnarrs prediction would carry more weight to it because he has, shall I say, a much more decorated vision of where Satoshipay will land
My painting is quite bleak
Ragnarr is by far and away the best poster on this board in terms of info imho but not sure he has a preference for sharing his or indeed any price predictions. Now that you have asked SlugMum, why dont you kick things off with your 6 month price prediction for Blu?
Their timekeeping and working to deadlines approach is evidently non existent
They are at least smart enough to wring every last euro out of the business under the guise of ‘salaries’
Wonder what ragnarrs 6 month price prediction is for BLU?
Thanks Snowroll
That article was dated mid Feb 2024 and says "Scheduled for a Q1 release, Pendulum’s Forex DEX leveraging Nabla’s technology, is set to bring Forex trading onchain and improve stablecoin utility for the Polkadot and Stellar ecosystems. "
This is Slugs key concern I believe- we cant rely on the timelines - Q1 is gone and not only isnt it launched, there isnt a revised timeline for its release.
Excited by the tech here but tempered by the challenges SP and Pendulum have in keeping timelines. If i have got the wrong timeline then will be happy to be corrected.
Personally, I think we are getting close, but rather than having to dowse for this information they could give us better comms.