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As for any genuine holders (if not already) I would recommend joining the telegram group for constructive chat & info. Also, a bonus to have Patrick in the group.
Looks like you got a hard on for DL. Obviously your not invested here but continue to troll the board. Enjoy it but once nft platform is launched & approval is done I guess you’ll be M.I.A.
Maybe you should give Patrick’s latest article a read… ;)
Not just a mate but the VLRM chairman’s no less. Worth a Google of him by way of “research” if you’ve got 30 seconds
The Times article today sums it up pretty well
https://www.thetimes.co.uk/article/cryptocurrency-how-the-bitcoin-boom-led-to-a-giant-fleecing-of-ordinary-people-wgt2rlbjf
I have no idea what you are talking about now. The company has given an £85k asset in exchange for shares in a company owned by a "mate". That's all I am saying is a red flag.
There is another massive red flag in the recent accounts. Patrick L Young was paid £280,000 for 6 months of being on the BOD. And yet he holds not a single share at the december year end.
Okay, so you could argue that it is a single item backing the Dollar. But I would like to think items such as gold reserves, debt bonds, the constant printing of money, tax receipts etc. all equate to the American Economy, one physical asset. When the US economy is having an enjoyable time, the dollar is strong and when it is having a tough time the dollar becomes weak against other currencies.
However, to cash in BTC or any virtual asset, you may use a stable coin such as Tether or BUSD. Tether is very sheepish when it comes to announcing what and how much is backing their stable coin. Why, well for example, if there is $1billion worth of physical gold assets underpinning Tether and a Crypto whale cashes $1.01 billion worth of BTC, more than the gold that is us underpinning the stable coin, it would causes the stable coin to lose its peg because there is not enough gold to pay out/cover the exchange conversion from BTC - USD.
In the scenario above once unscrupulous characters know the value of the assets underpinning the stable coin it becomes easier to destabilise more than dollar which is backed by the US economy.
Yeah, but whats the underlying asset ********?
“The economy of the Untied States of America“
Hilarious
The economy of the Untied States of America
And whats the underlying asset attached to the US dollar for example then?
Sorry didn't mean to cause offense just figured you didn't know the difference between Assets and Virtual Assets and how it could be interpreted by the regulators on the balance sheet. I was suppose to include the link below, which is a good read BTW, basically you can't turn back a 1000 years of bartering and overturn 200 years of regulations for an asset that IMO can't be justified/propped up/underpinned without an underlying asset.
https://www.britannica.com/topic/money/Metallic-money
Why does VLRM need to keep Lenigas happy …. poor choice of words I guess but Patrick will be even happier now BTC isn't on the balance sheet as you can tell from the article he just done, see link below. Patrick BTW has since said he wrote a headline, "Crypto is Dead, Long Live Crypto" but somebody presumably a sub editor has written this headline instead.
https://www.cityam.com/bitcoin-heads-for-obituaries-cryptocurrencies-can-finally-mature/
Anyway take it easy
"You really need to read up on the concept of money and how a fiat coin is traded for goods and services."
Don't be so patronising. Why do you think I invested in the first place?
Why do VLRM need to keep Lenigas happy?
It looks a shonky deal to me.
The two big unknown trades are obviously buys which outweigh the sells yet down again.
MM's sure like to try and trick you.
Well the users of the Blockchain can’t be audited/traced for money laundering purposes. GSX and the NTF market place will no doubt use an immutable blockchain where the blockchain transactions can be audited by VLRM or the regulator.
Regards BTC technically it’s Virtual has no value unless existing via a stable coin. You really need to read up on the concept of money and how a fiat coin is traded for goods and services.
Trade it for shares in Lenny company, keeps him happy, VLRM keeps foot in the game and I guess we write off the shares over time. Accounting trickery I guess.
Regards to Vinanz look harder! I won’t be posting anything here don’t want to cross ramp.
If an £80k intangible asset on a balance sheet confuses a regulator, then god help us. What users can not be audited? What do you mean?
Why not write down the asset to zero, but still hold it?
Why trade if for shares in a Lenigas venture?
Anyone direct me to any information on Vinanz Ltd?
@MeanMrMustard68 - When it comes to the balance sheet putting a value on a virtual asset such as BTC is difficult at the best of times, especially when its volatile and not underpinned by any physical assets.
David L. has also said having BTC on the balance sheet confuses the GiB regulator, again IMO this is because BTC is an asset where the users can't be audited using KYC. In which case it does defeat the object of GSX and the NFT Market place being a fully regulated exchange. The risk is now on David L. going forward with his new venture he already said they had to persuade AQUSE but we are giving away £60k - £80k for very little risk, all being well we will get 27% of the revenue.
Still unsure check out a certain planet digital services who have been struggling to list because the board can't get value on the company due to the amount of Virtual Assets they hold and are now changing plans, sad part is there shareholders can't walk away!
IMO its a clever move on VLRM keep that balance sheet simple I say especially in the current climate of crypto/blockchain regulation.
https://www.reuters.com/technology/valereum-end-bitcoin-mining-focus-gibraltar-exchange-2022-08-18/
Plus getting rid of btc shows total confidence that approval of gsx and nft marketplace place has crossed the Ts and dots, particularly the word “imminent” wrt nft marketplace.
XX millions as it is not running yet, we have paid for 24% of Vinanz with our btc miner and btc, more information will become available in the next few weeks regarding Vinanz but my understanding is they will raise cash via an IPO and list on an exchange. This of course is conditional, Vinanz will need to list on a recognised exchange and the final holding will depend on how much they raise via the IPO.
Whilst Valereum are in the thick of building the first of its kind exchange and an NFT marketplace it could have been years until they started to bring in any significant revenue via Btc mining as it isn’t the companies focus so doing it this way will open up a profitable revenue stream straight away.
Ask yourselves what is better 100% of £100k annually or 24% of XX millions
Where are the XX Millions coming from? Can you find any info on Vinanz Ltd
More information will be coming out in the coming days Mustard, will be an IPO. great news coming from that why?
our btc miner was always just Richards foot warmer and never a real way to create revenue, this way the valereum team can focus on the exchange and marketplace to significantly increase revenue to get to their billion mcap aims. Ask yourselves what is better 100% of £100k annually or 24% of XX millions?
The phrase financial department store springs up again as we add another revenue generating avenue.
GLA
Hmmm
Swapping out an activity/asset in BTC mining, and replacing it with shares of a company that will be active in BTC mining?
Not sure.
Now Vlrm will concentrate on GSX and NFT platform.
Maybe a requirement from the regulators… completion could come soon ;)
An RNS stating they've given Vinanz $100k worth of BTC and its mining assets, for 24% in a company Lenigas owns (or is running), and the final holding will depend on the amount of capital raised as part of the listing.
How is that good news?
BTW Vinanz Ltd......can't find anything on it.
DB, wow, you're right! I've just checked and there's actually been 31 in a row, would you believe it.