Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
My response was pretty clear "I had completely missed how bad things have gone for Blu"
I genuinely thought all of the eSports investments were still active. Forgivable I guess, considering Blu still claim to have all 11.
Between eSports and NFT, Blu's portfolio had great potential. So many investments going to zero and not being acknowledged is appalling
Ragnarr, you raise a good point, I had completely missed how bad things have gone for Blu.
The Blu website and the Half Year report in June still claim that Blu has 11 investments.
But taking a look at the eSports companies, most have folded. It looks like Blu's portfolio is closer to 5 than the 11 they claim:
https://bluestarcapital.co.uk/portfolio/
My parting gift to DL might be a complaint about the misrepresentation of the company. An out of date website is poor, but making the same false claim on a financial return is bordering on fraud
"Our current portfolio consists of 11 innovative, disruptive, global businesses "
Lol. I don't think they'll ever be transparent enough to disclose losses like that but when pendulum is live the transaction/usage will be public.
I'm guessing less than £100 per month revenue, for yet another piece of cutting edge tech that nobody wants, needs or uses.
Until the cheerleaders stop letting SatoshiPay get away with this, why would they stop? Nerds happily coding away, burning cash doing what they enjoy and travelling the world. Never delivering anything with any value and never being challenged? They've got the perfect job, why would they change anything?
It's interesting how short/selective people's memories are. Lew taking over was a positive at the time, as things were stale/stagnating under TF, with very poor updates.
Returning to TF? iT's dIFfeReNt tHiS TiMe ??
Agreed, a raise will be inevitable to fund next year's
drill programs (or potential mining operations) but look how efficient Cobra are, the £975k raised in Feb to fully fund 2022.
They haven't diluted unnecessarily, and if a raise happens after re-estimation of Gold/REE in Dec, it'll be against a re-rated share price and we're all winners
One defence of SatoshiPay is that they're technically very good. They've always considered the portability of their software, and easily shifted from Bitcoin to Iota, before moving to Stellar.
If Dot volume is a letdown, I'm certain SatoshiPay will have built the bridge in a way it's not a complete waste, with reusable components to bridge elsewhere
I wouldn't be surprised if they circled back to Iota if they deliver on decentralising (it would make them the equivalent of a fee-less Dot)
I'm here because Blu have several investments, some with huge potential.
Unfortunately I believe SatoshiPay will be missed potential, while they continue repeating old mistakes unchallenged.
People here attack critical questioning, or criticism of evidenced facts, like SatoshiPay is some kind of cult.
Look at the blueShoes nonsense, I give my criticism and ask why I'm wrong. He responds by randomly listing countries with no relevance to SatoshiPay like it's a remedial geography lesson.
Baseless cheerleading doesn't help any body
Duke - maybe we're looking at different roadmaps?
I'm looking at a technical roadmap of delivery dates, with no mention or forecast of users or partnerships?
I've never questioned SatoshiPays ability to deliver software. It's delivering software *that people use* is their problem. And they seem to be repeating their same old mistakes.
Ragnaar - you're just listing buzzwords. Web3 is a concept, not an actual company, likewise for e-money. They're not investors. SatoshiPay chose to launch on Polkadot, Polkadot did not choose SatoshiPay.
Baseless ramping is not helpful. This type of cheerleading is why SatoshiPay get away with it unchecked
Lol. I'm just not getting called dumb for being able to see what is in front of my eyes.
I'm invested here, so would love to be wrong.
Unfortunately, I think this is just another cycle of SatoshiPay creating something that nobody wants. And while people champion them, despite lack of planning, forecasting or transparency, nothing will change
BlueShoes - one of us blind and dumb, happy for it to be me, so could you please enlighten me...?
I don't understand the excitement about about Polkadot auction? It's for getting something onto a live network yes. But what is the 'something'?
SatoshiPay have reinvented themselves several times over the past 6 years. MicroPayments was the first 'Live Launch' hype event, where they launched software that nobody uses. Then the same for B2B / Solar, and now Pendulum.
The SatoshiPay business model is to quote the value of an existing market, and claim if they can get a percentage of that market they'll be "a unicorn" (an actual Meinhard quote).
Yet they consistently release software that nobody uses, rendering it absolutely worthless. So please do enlighten me - with a history of worthless software, and repeating the tried and failed model of market share quoting, what is different this time?
And for the benefit of people familiar with their iterations of failure, and frustrated at seeing more of the same, what makes that dumb and blind?
"who is selling at these prices"
Anyone who bought into the shameless, baseless, "it's different this time" ramper
DYOR guys. If the answer to critical questions is nonsense like "let's agree to disagree", the rampers have nothing but vaporware based hype to offer
I thought the report was awful and expected the price to tank today, shows what I know
Seriously though, no construction partner, no date for having a construction partner, therefore no estimate for construction. 2024 before anything meaningful happens here at the earliest imo
L
The problem is absolutely Blu . The perpetual 'jam tomorrow' from investee companies, coupled with the "it's different this time" rampers on here , mean the regular spikes in price are artificial and unsustainable.
Look at the graph. In the past 12 months alone the price has spiked 3 times based on nothing but shameless ramping
The RC results and possible IOGC confirmation is obviously the jackpot but in the meantime, I'm just looking forward to the re-estimation of resources.
It seems like we've remained at 400,000 ounces throughout various drill campaigns.
I hope this year's RC results re-estimate the gold and ree in the ground, which could give COBR a completely different valuation
Duke - "AMPE going live will instantly give us some tangible way of attributing at least some value "
Replace AMPE with Micropayments, Solar Wallet and B2B. All of which went live. None of which delivered any value.
I don't understand why anyone thinks this time will be different, when nothing has changed. SatoshiPay model was, and still is, develop some flashy software and estimate the potential value as a % of the market they're entering. It's absolutely nonsense.
I'd love to be wrong and for someone to explain what has changed and why it'll be different. But it seems like a rinse and repeat of old promises.
As for launching on Kusama, releasing to a test network is insignificant. The big news would be if people are using it. If they were, it would be shouted from the rooftops. But there hasn't been a whisper.
If nobody is using it, it's micropayments again. Big promises, big launch, dust gathering unused software
"If we'll received"
That's the mother of all caveats.
For the past 6 years SatoshiPay have been developing software that nobody uses. The roadmap is as worthless as their micropayments product if they're entering yet another void.
I don't understand the excitement over a product launch, after they history of failed products. If the announcement was: "we're going live and have x customers ready to pilot. But it's not. No lessons have been learnt. It's not going to be different this time
It's interesting how sentiment is changing and people are questioning the lack of plan, forecasting or any shred of transparency from SatoshiPay.
A while ago, I questioned on what basis Mark White insisted "it's different this time" but got shouted down by his cheerleaders here
The Blu board clearly aren't pressuring SatoshiPay enough, but won't feel the need while apologists don't see the past 6 years of making worthless tech as a warning that nothing will change while unchallenged
Blubutton that is SatoshiPay in a nutshell. Nerds are technically excellent software, but absolutely worthless nobody uses it.
Its the same for each iteration of Micropayment, Solar Wallet, B2B... Now the Stellar Bridge has the same baseless "it's different this time" from the rampers.
Their business model is to target markets worth billions and make wild, unrealistic estimates based on getting a percentage of that market. It's absolute nonsense.
Until SatoshiPay have an actual plan, with realistic forecasts and targeted users. It will not be different this time. Even if the rampers feel it in their waters