RE: Some Long-Term Speculations I'm Excited About: AcademyToken, CryptoHunt, and RavenCoin (Part 2)
Thanks for putting this together. I've never heard of it before. However, this is another one of those ones I don't get.
Coin decay? Buying coin burn protection?
"The player is encouraged to play regularly, but in moderation." I don't see where the moderation part comes in. Why did they even put that in there?
"why not use an existing token? It’s not an invalid question" Maybe that doesn't translate well, but I don't like the way that's phrased. I don't feel too good about the answers either.
"This means people
can play and profit off of us for three full years before we even have to start thinking
about earnings. "
"The token cannot be a victim of pump & dump schemes. In order to get it, one has to
find it in large amounts on exchanges, which they won’t - we’ll be buying them back at
first, and the tokens will only appear on exchanges seldom, when people start feeling
they can get more from others for them than from us." So, pump only...until they run out of money?
"The company’s business model rests on the massive adoption...." What does this mean and how are they going to quantify this?
They're also picking up the tab for Ethereum gas, so they're going to try to minimize that by being the bank.
Payout at once per 100 is odd. What assumptions does that make about the price of the token? My thought is it will never get above $1 or really even close to that given the vastly different economic climates of the selected cities for the rollout.
I know I'm not being very thorough or open in my thinking, but I'm not even sure how to think about this. It just seems to me that all of these "companies" have put in little to no thought about creating a sustainable organization. I know startup culture is 'build it and they will come', but I don't see how the parts fit together in a way that makes realistic sense.
Thanks for asking questions!
Coin decay changes the economic model which encourages people to stick with the game or not bother with it. When Pokemon Go first launched, the demand was huge but then a bunch of people ignored it. That means the planning for bandwidth and server resource needs was probably nutty. I think this approach makes sense in that if someone is willing to let their coins start disappearing, they probably aren't too serious about playing it and that might help with allocating resources effectively. It also helps investors as lower coin supply often translates into higher value per coin.
Encouraging people play without moderation wouldn't be polite. heheh. It's like the beer ads that say "Please drink responsibly." It's expected. I genuinely think they want people as engaged as possible within reasonable limits. No one wants to support unhealthy addictions. At least with this game, people are getting outside, walking around, and meeting new people (if the PokemonGo model is to be used as an example).
I think the question translates fine to me, but I hear you about not liking the answer. To me, a new token makes sense so they have the control to fund it and build it as they want.
Not sure what about the buy back plan bothers you? To me it shows a commitment to providing value to the token which could drive user adoption. I think of it as them paying for advertising like most companies do but instead it's through word of mouth with people saying, "I made $5 playing a game on my phone!" Word of mouth advertising is powerful (and to me, preferred).
Mass adoption means millions and millions of people will adopt the game and use it regularly. If that doesn't happen, it sounds like the business model may run into trouble. That's certainly something to consider as far as the future success of what they are trying to accomplish. It also could be read as them being fully committed to a very serious project.
$1 would be amazing returns if they are selling for $0.05. I'd be quite happy with $1.
I'm surprised you found this so negative. To suggest "little or no thought" without a deeper understanding of what they've actually done seems like you're talking from a place of ignorance and just lumping projects together. A simple question you might ask is, "Have I talked to an advisors of this project?" If the answer is no, there may be a lot of information you're not aware of regarding your concerns.
That said, thank you for asking questions! These are the types of questions we should all be asking as we evaluate various projects in the space.
I am totally talking from a 'place of ignorance.' I stated as much. I have no expertise in anything and base my opinions on the same lack of depth your average(or below average) person does.
For the most part I was inviting more education because I was using the white paper only as the basis for my questions(I did quickly go to the site to try and figure out where this world domination was supposed to spawn from).
I picked on the moderation remark because that seemed like a pc sort of thing they stuck in there for the sake of pc. Maybe I shouldn't expect arbitrary political correctness to not be present in a white paper.
I haven't played any sort of videogame in many years, so I find things like coin burn insurance to be tedious and odd. As an investor I think a mechanism that effectively caps the value of an investment to be equally as odd.
The white paper, in my opinion, reads extremely heavy on the youthful optimism. Maybe I'm just old and haven't read enough white papers yet.
Ignorance is wisdom compared to those who think they already know everything. The fact that you're actually reading the white paper puts you ahead of your average person. :)
The world domination remark is standard marketing hopefulness. These ICO whitepapers are often just a form of marketing, so I've gotten used to it. Most people wouldn't consider investing in a project that didn't at least claim to want to be largely successful. But yeah, details in terms of marketing promotions and such would be helpful, but it's still quite early on in the process (which is why I consider this a long-term speculation). Once the first full version of game is running, then I imagine things will ramp up in terms of partnerships with businesses and such.
Youthful optimism often changes the world so don't knock it too hard.
Again, thank you for comments. I enjoyed them.