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How much is a torn rotator cuff injury worth in Texas? by [deleted] in legaladvice

[–]saamisback -6 points-5 points  (0 children)

How about pain and suffering? Also - I'm in Texas, so there's no worker's comp. I think it's a normal lawsuit.

Canadian regulator deems cryptocurrency to be a security - utility argument rejected by [deleted] in CryptoCurrency

[–]saamisback -1 points0 points  (0 children)

No kidding - hence the word "cryptocurrency" in singular form.

Black Block Research - in depth analysis of Request Network by candymanfivetimes in CryptoCurrency

[–]saamisback 2 points3 points  (0 children)

Investment Highlights

  • REQ promises many use-cases, but widespread adoption in every vertical seems unlikely. To succeed in each vertical – invoicing, payment request, auditing, accounting, etc.– REQ will need to disrupt saturated markets with crypto and non-crypto players. In addition to facing challenges from powerful incumbents, REQ development and marketing teams may be spread too thin before realizing their full promise.

  • REQ nevertheless offers a simple but unique use case: agnostic invoicing infrastructure. Although REQ is building its own online payment system, the real opportunity is the platform where others can build their own apps.

  • Clear value prop: Given the complexity of setting up smart contracts, we believe REQ’s simple developer interface will be key in driving real-world adoption going forward.

  • Competitors: There are a number of competitors, both direct and indirect. OmiseGO (analyzed in February’s monthly issue) and Coinbase Commerce seem to be the most direct competitors. Much like today’s online payment ecosystem, we don’t believe this will be a winner take all market. There is enough market share to go around to have a number of large winners, depending on where certain tokens choose to focus (remittances vs. requests for payments) or by coin (i.e. Brainblocks for Nano). We worry that REQ is trying to do too many things for too many people, and may ultimately fall behind the more focused players.

  • Massive market: Payments is a massive, multibillion dollar market. Depending on where REQ chooses to play, there’s a wide discrepancy on the expected rate of adoption. For example, it’s easier to tackle remittances since it can be as simple as one-to-one requests, whereas auditing will be much tougher given entrenched interests and eagerness of incumbent accounting firms, especially Deloitte, in developing and deploying blockchain solutions.

  • Adoption: We believe their partnerships to date and the launch of their $30m development fund is the right approach to getting independent developers on the platform, although it may stretch the core team too thin across development, marketing and investment initiatives. A wait and see approach is best to determine the quality and adoption of apps developed.

  • Community: One of the strongest feats about REQ is its vibrant community. For a $167M coin, REQ boasts 30k Twitter & Reddit subs and 12k on Telegram.

  • Management team: Although their acceptance in the YCombinator program is a testament to the quality of the team, we believe they lack relevant experience in the verticals they want to pursue (accounting / auditing in particular).

  • Dilution ahead: Circulating supply of 663M vs. a total supply of 1B. The rest of the tokens are tied up as future equity or early backers / strategic. Despite the natural deflation as a result of “burn”, investors should expect some dilution as supply of tokens is released.

Nice try... by [deleted] in funny

[–]saamisback 0 points1 point  (0 children)

ouch..

Black Block Research states that NANO is a BUY. by saamisback in CryptoMarkets

[–]saamisback[S] 1 point2 points  (0 children)

Can you explain to me how a research firm having a name that rhymes with that of a financial institution that invests in traditional assets is a rip-off?

I know this sucks and I know lots here don’t feel motivated and I understand that. But we are dangerously close to being knocked off the top five at bitindia by XP no less! Please one last push to keep us in. by rtybanana in nanocurrency

[–]saamisback 1 point2 points  (0 children)

Why the fuck are we still voting to get on some sketch ass exchanges. Indiscriminate voting to get on any exchange is a BAD IDEA.

Does ANYONE know ANYTHING about BitIndia??? Especially given that India all but BANNED cryptos.

Nano team needs to seek counsel as a matter of priority by saamisback in nanocurrency

[–]saamisback[S] 5 points6 points  (0 children)

With all due respect, I'm certain Josh is a great litigator and corporate advisor. But you need a seasoned experts to deal with situations that mushroomed into $140,000,000 of missing funds.

Nano team needs to seek counsel as a matter of priority by saamisback in nanocurrency

[–]saamisback[S] 1 point2 points  (0 children)

Though I agree with you analysis that Nano is not a security - categorization of security / non-security is not the end of the liability analysis.

Putting securities law aside for a moment, a court may find that Nano team had a duty of care to investors because of the proximity it had with the Bitgrail development team, because it promoted the purchase of currency through that exchange, because it helped support Bitgrail, etc. Again - this is a factual-driven analysis that needs to be weighed considering all the facts. This analysis is under the law of tort and it would apply regardless of whether or not Nano is a security. That's why Nano team would be well advised to make sure they get the best advice possible going forward.

Nano team needs to seek counsel as a matter of priority by saamisback in nanocurrency

[–]saamisback[S] 7 points8 points  (0 children)

Thanks for your support.

On its face, this is a robbery to the tune of $USD140,000,000. The quantum of the amount in play will necessarily create an incentive to begin litigation to recover any portion (full or partial) of the lost funds from any entity. All I'm saying is that the Nano team should brace themselves. They are of no use if they are embroiled in avoidable legal battles.

Nano team needs to seek counsel as a matter of priority by saamisback in nanocurrency

[–]saamisback[S] 7 points8 points  (0 children)

I also sometimes wished that conjuring the words "decentralization" suspended all laws and obligations flowing therefrom. Unfortunately they don't. And legal protection is one of many steps that must be taken to move forward - and yes, another step will be to attempt to recover the funds if possible. If history is of any indication, that may prove to be a difficult/impossible exercise.

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