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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.
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
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.
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
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?
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
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.
*agreed
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
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.
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
Very little chat, very little interest and stagnating SP. We are going nowhere fast! I’ll say it before Slug, ‘another week down the river!’
Keith mate
I had one responsibility, and now you’ve taken from me
Now I’m just as useless as Satoshipay 😂
Down. Down, deeper and down! :(
You’ll literally soon be able to pick up shares for a song
Why so negative guys? Remember.. It's different this time!!!
Seriously though, despite having little faith in SatoshiPay's management or their headless chicken approach to developing products without demand, the valuation of Blu is unreasonably low. They must be worth multiple bags of the sub £5m we're currently at. I'm dipping back in..
If anyone followed SatoshiPay from the early days, you might remember a brief venture onto IOTA between using Bitcoin and Stellar... well IOTA ( a feeless dag/blockchain) might've just released a game changing EVM. Possibly worth a look for those interested in crypto
The unfortunate truth Pablo is that we are probably overvalued at our current market cap
all esports investments have dive bombed
Sthaler now worth £13k
Satoshipay holding was circa £4.7 mil in 2019
They did an audit according to their 2023 roadmap, likely to try and work out the value of the company
The news was probably not what they wanted, hence no valuation in the public domain
They were massively overvalued in 2019,Tony f jumped in with two feet in 2017 and bought high
It’s now 2024 and outside of their fund/token raises, they are still making next to no money
Not heard naff all from benchmark since November about a Satoshipay sale
Because literally nobody wants to buy them
The silly one liner comments saying things are ‘progressing well’ are absolute nonsense, just to try and appease investors
I, for one, see straight through their bull****
RNS OUT