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Bitcoin and NFTs
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https://initiativeq.com/
Have at it! A new payment system and private fiat currency, which doesn't actually exist at all, and is going to magic itself into existence once enough people have signed up through the (admittedly fairly harmless) pyramid scheme.
My favourite objection to this: "Your entire damn system is the economic equivalent of plugging a power strip into itself."
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Huh. The European Parliament's draft report has tacked on facilitation of ICOs to the proposed crowdfunding regulation. It also deletes the Commission's ban on pumping individual projects in marketing (which would only apply to platforms voluntarily registered under the directive, but still). The rapporteur represents Gibraltar. I'm sure that's a coincidence.
Equally bizarrely/brazenly, the explanatory notes talk about it as a first step to regulating ICOs, and the recitals say "crowdfunding service providers that wish to offer an ICO through their platform, should comply with specific additional requirements under this Regulation", but there are no specific additional requirements.
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Grant Shapps has been caught being naughty yet again Undisclosed token compensation for advisory position at OpenBrix.
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I'd be rather surprised if it gets past the committee stage, given how wary of crypto the parliament has generally been, but I guess it partly depends how much Fox is willing to go to bat for it. If he can pitch it as improving access to capital for SMEs, it might fly.
It's also not clear how it would even work in practice (ignoring for now the lack of specific rules). The one restriction that is specified is that the ICO can't be for more than EUR 8m (the report also ups the limit for ordinary crowdfunding under the regulation to EUR 8m). But how do you measure that? If you take bitcoin for your token, what happens when the price of bitcoin fluctuates? What if you take multiple currencies and some value it at above EUR 8m and others below?
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I could have sworn I posted something on here about MoviePass, but damned if I can find it.
Anyone else enjoying watching it unfold (unspool?) ?
Put it in the 'did you do a business case for this?' category.
Here are the broad strokes (I'm going from memory, so figures are rounded):
So, you buy a MoviePass for $9.95 US a month and you can see one movie a day for free.
Except MoviePass doesn't have any partners, so they have to buy the actual ticket from the theatre with cash money.
So how do they make money? Something something something critical mass...economies of scale...popcorn....something.
The stock has gone from a couple of bucks to five cents. They're losing about $125 million a quarter.
Now you can only see three movies a month, and only choose from six or so, and only at certain times.
Imma put a 'hold' rating on this baby.
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