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SeedInvest Campaign - Discussions with Richard Garriott / Lord British

Discussion in 'Announcements' started by Lord British, Jun 2, 2017.

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  1. Aldieb

    Aldieb Avatar

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    The problem is that when you enter the world of financial papers like shares you enter an entire new realm of laws and regulations that doesn't exist when buying consumer goods. First of all, all credit card transactions do cost money. The credit card company and the payment service typically takes a certain percent of the money. That would in the mean that either those paying by credit card would have to pay those extra fees,, which vary depending on card and payment service, or those paying with credit card would in reality paying less per share then those paying by bank wire. The last option is probably not allowed in this kind of transactions. To add to the troubles some countries forbid companies to take out any extra fees for paying with a credit card (I have no idea what the US laws are in this regard).

    I would suspect that the laws says that in order to make this kind of sale of shares each buyer have to pay exactly the same amount for the shares and that means the exact same amount of money per share must end up on the account of the company selling the shares, no matter what payment method is used.

    In other words it is probably not possible in reality (unless one want to go insane) to allow credit card payments for this type of campaign if one is to follow all laws and regulations.

    Someone who actually know the US laws on this type of deals might want to comment.

    /Aldieb

    P.S. I had to use bank wire myself, which luckily I could do through my banks web service.
     
  2. Jaanelle DeJure

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    AFAIK SWIFT is an international system, organized under Belgian laws. There's also CIPS.

    But at the end of the day, it's all just different forms of intermediaries certifying identities and transactions.

    They all are rapidly becoming obsolete. The question is how soon a critical mass of people globally will adopt new technology.

    I think it's safe to presume that the entities making money off of transaction fees aren't going to make any announcements about their imminent obsolescence.

    It's up to us to either evolve, or go down the path of extinction with the dinosaur banks. In my opinion, of course.
     
    Last edited: Aug 8, 2017
  3. Earl Atogrim von Draken

    Earl Atogrim von Draken Avatar

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    Yeah the economic in me doesen't agree at all ^^
    But it is pointless to discuss that in this topic.
    If you are into crypto currency i wish you the best of luck.
    Just remember you are playing against the entities you proclaim to be obsolet ;-)
     
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  4. StrangerDiamond

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    That sounds like a life well spent.

    Because usury IS obsolete from the moment we understood that there is more debt than money in circulation, forcing THE PEOPLE to abuse each other to come up with the missing money.

    Sad day for them, the idea is up there.
     
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  5. Earl Atogrim von Draken

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    Usury?
     
  6. StrangerDiamond

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    the illegal action or practice of lending money at unreasonably high rates of interest.

    Which is subjective depending on country and national bank system...
     
  7. Stryker Sparhawk

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    In Roddenberry Universe, only Latnum is usury!
     
  8. StrangerDiamond

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    Our bank in canada lends unlimited amounts of money to corporate banks @ less than 2% interest... they flip their chair and lend us the same "virtual" money for 10-15 and up to 30% interest on cash advances... sadly there isn't enough money in circulation to cover those "debt insurances" so we have to borrow more money from the IMF to still be able to invest in our own country.

    So its compounded, and oligarchic because people up there have schemes to invest through the bank of canada to other countries, like the african mining scandal. They get a free pass out of jail, because they're too big to fail.

    I think a certain problem in the US in 2008 about housing market bubbles should ring a bell.
     
  9. Earl Atogrim von Draken

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    A gotcha, thanks.
    But that wasn't my point. My point was that crypto currency is the playball of the banks. Because they want yo money. And in most cases, they WILL get yo money.
     
  10. StrangerDiamond

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    That sure deserves clarification, you're being quite vague, you think cryptocurrency plays in the hands of the big banks ?
     
  11. Earl Atogrim von Draken

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    Actually i really didn't want to derail the topic.
    There is nothing vague about it tbh. Big banks invest in cryptocurrency to raise the price and after that they will bail out.
    Why do you think there is a bit coin and a bit coin cash now? That split has the mark "bank consortium" all over it.
     
  12. StrangerDiamond

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    I don't think warning people that are about to embark on a similar journey about pitfalls is derailing the topic.

    I indeed concur... there are moral reasons why I didn't start to mine bitcoins cause I was introduced in the first days it came about, but there are also logical reasons.

    To me its the same HUGE error we do over and over... when there is one type of currency for all (corpos and individuals, for commodities and luxuries, for service or goods) its the same damn problem as when there is one god for all.

    People of earth lived in relative peace until this ONE GOD thing, sure it was still a dark age because of lack of knowledge and technology, but there was *relative* peace.

    Then its holy wars and insanity... and pretty much every insane despot prior to the unified religions was trying to build one of his own.

    So yes... they're working on security, the bitcoin cash is a bit more complex than just splitting the forking system to achieve expansion. I beleive they should be working on evolving, not reproducing the same evil concept.
     
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  13. Arya Stoneheart

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    Episode 1 (we hope to launch near year end) will be available on PC/Mac/Linux, as it is now. We use Unity as a development platform which makes porting to consoles relatively easy, and so we hope by episode 2 to be supporting more platforms.

    - Richard

    Console versions coming soon!
     
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  14. Tiina Onir

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    "Soon" is a strong word. "Eventually, maybe" is probably more accurate.
     
    Last edited: Aug 8, 2017
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  15. Arya Stoneheart

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    Ok used the same wording for Episode 2.
     
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  16. Jaanelle DeJure

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    Hehe yes well that's nothing new... playing against these entities is time-honored tradition dating back to deep Antiquity. :D

    I'll take their moves to tank Bitcoin as a sign of desperation.

    But anyway, the more on topic point is simply imagining other pathways to support companies like Portalarium that circumvent this "my way or the highway" attitude.

    It might still be a bit down the line, but imagine players "mining" in-game for Ether (or something similar) that can actually be deployed to offset the costs of running the game on a virtual machine, or local hardware.

    Or diverting ones surplus "ore" to the dev team that they can exchange for other digital goods or services that actually help them continue to develop the game.

    Don't get me wrong- I'm not saying that government-backed currencies are becoming obsolete anytime in the near future, however some of those functions can quite realistically be replaced by cryptocurrency.

    What I'm talking more specifically about is the need for third-party certification of microtransactions- even with "real" money.
     
  17. Twiggi Fizzlesticks

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    Can we now talk about the details of the seed invest documents on this website, now that the offering is over?
     
  18. Tiina Onir

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    Good question.

    Also, what happens now? It looks like the seedinvest page has now dropped all listings of the amount raised, is that pending a final count? Will (when?) we find out the final total? When can we expect to see the shareholder rewards?
     
  19. Earl Atogrim von Draken

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    @Berek @DarkStarr @Lord British
     
  20. Drocis the Devious

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    Isn't the most important question, when do we get our gold stuff? o_O
    • And if we made multiple investments, how do we get the gold stuff aggregated and linked to our game accounts?
    • And how many contortions will the people of reddit go through to explain why being funded for 704k is still somehow a bad thing? :p
     
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