Two years ago about this season I used a set of synthetic devices to crush the toys of a bunch of people clueless enough to remain unaware of their own irrelevance in the Bitcoin space. The method worked admirably well, and by November their social club with pretensions of a "stock exchange" was belly up, and they scattered to the four winds to talk the bad talk about my PR agent and lick their wounded accounts. Plenty quit, some are still bystanding spectators to this great thing of ours.
Today another bunch of people, equally clueless, equally deluded as to their own irrelevance are going to get their toy crushed. It will go like so :
- For everyi Series A / seed funding announced by the circlejerk that is either in excess of 1 million USD or for a company valued through such funding over 100 million USD, I will create a synthetic asset on MPEx.
- I will be offering these assets at a discount, to be established on a case by case basis.
- Anyone holding such asset at the time the underlying is floated on an actual exchangeii will receive the equivalent value of the average trade price during the first month of tradeiii as the sole compensation for having held the MPEx asset.
That's it, short and sweet. You want to invest in some of these "valuable" things the V"C"s are doing ? Now you can. For less than what it costs them.
Who knows, maybe you'll even make a profit doing it. My money is on the contrary position.———
- Every in the sense I'll do all the "good", "first/biggest/best" ones, not in the sense that I'll deem myself somehow bound to list every dubious piece of crap the circus spews out. [↩]
- So far, NYSE or NASDAQ only. The list may be expanded. [↩]
- Example : BitPay raises 30mn, which values it at 160mn. I create D.BPAY, consisting of 16mn shares, selling less than 0.016 BTC each. One year later, BitPay is listed on NASDAQ, for a total 3.2 mn shares, trading at 8 on open and at 1.13 after 30 days, for a VWAP of 2.74. D.BPAY holders on MPEx are entitled to and will receive 0.65075 dollars' worth of Bitcoin, whatever that may be at that time and the asset will be discontinued. [↩]