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@ragnarr
as the board crypto expert, what is the value of the Pendulum bridge in your opinion?
one assumes there are other examples of crypto - fiat bridge that have been executed better than pendulum that have produced good value to the parent company.
what is your take on the value of the pendulum bridge? its a near impossible task ?
i am doing my best to create a worst and best case scenario for Satoshipay value. of course its very much market sentiment driven and one wonders would Stellar be a buyer of Satoshipay/Pendulum?
if a buyer does not show their hand on this occasion , then Satoshipay will need further funds mid 2024, when one expects the crypto market sentiment to be much better.
early work suggests for Satoshipay, pessimistic valuation of 0.1 , optimistic (at this time) 0.15
Dynasty, until they break cover with what they have been doing, what they have achieved and what their plans are, can only go by 0.15-0.2
optimistic valuations in this bear market will facilitate TF being able to exercise warrants.... ; )
best not to forget that the value of the assets will go up as both achieve more, i.e when Satoshipay get a wriggle on and basically get the Pendulum roadmap achieved, including Nabla and Spacewalk on Pendulum.
my musings for what they are worth !
Blu - impossible to say at this point as it totally depends on its success ie how much it is used. Bridges get revenue from transaction/toll fees so its down to how many transaction go through it and how much can be extracted as a fee from those transactions. It will also depend on how the bridge expands. Currently it is only a bridge from Polkadot to stellar, but Pendulum have stated they intend to add further blockchains, so if it were to grow into a truly multi-chain bridge it gas the potential to be huge.
For an example take synapses bridge - started as a stable swap bridge on BNB-chain and has evolved into a very popular multi-chain bridge - current market cap about 57m usd and an estimated 15m usd annual revenue.
But again its all down to the uptake and its too early to determine for spacewalk yet as it isnt even fully live.
This article might help explain things far better than I.
https://www.vaneck.com/us/en/blogs/digital-assets/blockchain-bridges-trolling-and-tolling-to-174b-dollars/
Blu - Ps - please dont refer to me as an expert - i’m far from it :-)
@ragnarr
many thanks
the fact that Spacewalk has suffered more than two delays this Year is not lost on me or others on this board.
i did refer to you as the crypto expert of this board, which may offer a different take to you ;)
lets settle on crypto knowledgeable, i trust that suits.
this aside, thanks for the example. if you have done the case study, did they suffer the constant delays that we have endured with Pendulum this Year?
you are an investor in BLU hence have done your research, what is your take on Dtransfer, why sideline a product that was hailed as a hit product in 2021 by Benn and Fabrizi via RNS.
it would seem logical that anything that facilitates revenue , Dtransfer did, as in your Synapse bridge description, thus would have provided fundas and profitability and a better valuation, there was no downside to Dtransfer, hence i fail to understand the sidelining of it.
cutting a revenue enhancing product is fiscal suicide.
interested in your thoughts.
Please tell me if I am wrong, but I thought Spay simply changed the name from DT transfer to Nabla?
Blu - I havnt done a deep-dive into synapse but they originally started as nerve finance and from memory the original whitepaper was 2019/2020 I think - No idea of delays along the way.
It was the creation of Dtransfer and the liquidity issues that instigated the whole Pendulum/Spacewalk initiative in the first place and much was made on a re-launch once pendulum had resolved those issues, so I assume that the ‘sidelining’ is simply down to the limitations that it experienced until the Pendulum/spacewalk protocol is truly functional.
Back in 2020 (i think) they hailed 1,000,000 USD cross border payments so one assumes that the existing (limited) transactions are quietly continuing as Tony clearly stated earlier this year that Satoshipay was now in profit. So its a wait and see situation.
Re satoshipay finances I dont actually think there is an issue, I will look at things closer and post my thoughts
Bobson - no Nabla and Dtransfer are two completely separate entities
Many thanks again Ragnarr
i am aware of the 2% issue with Dtransfer, i've been over many of the minutiae here many times with my research . the fact remains it WAS a provider of revenue, the lifeblood of a business
you take my point, anything that is actually revenue enhancing, Dtransfer was most certainly the only entity , to my mind, that provided meaningful revenue to Satoshjipay. the micro payments, whilst a fantastic idea was not revenue enhancing,
i still believe in micropayments even now , sadly the old guard media would rather hide being an antiquated paywall.
but i digress, i believe like you that no issue exists with Spay accounts, something is causing the delay, we will await as to what it is, i suspect a further funding round, which in itself would offer a valuation that TF has now commenced with Benchmark.
back on point, to remove something that was revenue enhancing seems illogical, and even if they did remove it , first priority once you have completed the much delayed bridge is to reintroduce it (on your testnet Amplitude)
we need to see Spacewalk on Pendulum and Nabla operational prior to Year end, this will awaken the slumber and cease the deep dive of the share price and begin to offer a bias to upside momentum.
this sad episode, that has been BLU in 2023, could and should have been curtailed with a firm stick to both Spay and Dynasty to get their house in order. they are doing now, but its taken 12 months.
unacceptable !!
there is most definitely substantial value here in BLU, but one way or another a catalyst must be provided to facilitate upside momentum.
look forward to your thoughts.
They pledged Q3 for nabla and spacewalk
See
He’s called Teflon Torsten for a reason
Nothing sticks
Missed deadline after missed deadline after missed deadline
Slug - its actually only in your head that Torsten is called that ;-)
Ragnarr - it’s the most appropriate nickname anyone has ever been given
Your satirical comment is perfectly timed - just as the share price edges ever closer to all time lows - all this does is validate and reaffirm my concerns regarding Satoshipay
"but i digress, i believe like you that no issue exists with Spay accounts, something is causing the delay, we will await as to what it is, i suspect a further funding round, which in itself would offer a valuation that TF has now commenced with Benchmark."
Yes, a further funding round hinted at in the recent BLU RNS regarding the valuation exercise. BLU does not have the funds to participate, therefore its current 27.9% holding in Spay is likely to be heavily diluted. ?
Still … Satoshipays window dressed Q4 roadmap still has nothing ticked off… despite us being in December in just over a week
They are an absolute embarrassment
Zero drive or urgency to complete anything at all
The only thing they do seem to organise well and prioritise are their excursions abroad - those are no doubt as organised as well as military style operations
there are few jobs outside of the aviation industry which involve so much global travel.
This whole travel-on-someone-elses-dime at Satoshipay was all started by Meinhard. He’s done quite well out of it.
Proof below
https://energystorageforum.com/speaker/meinhard-benn
Quote: “As open source developer, social entrepreneur and avid shoestring traveller with 50 countries under his belt, Meinhard experienced the need for an open, global and decentralised payment technology first-hand.“
He’s probably doubled his ‘country count’ and life experiences through the dime of the Satoshipay investor
And posters here are still lauding him - how about asking yourselves: what has he returned to you ?
Just copied your post and put on Pendulum telegram if that ok slug !
Hopefully it hits home and buy if realisation kicks in for them !
Thanks duke
If any of them has the minerals to respond to my valid criticism please do let me know
Hi Slugmum,
I dont think I have ever seen Meinhard lauded here. I admit I dont monitor the board all the time but who is lauding Meinhard. I think you are pushing on an open door in that respect.
To say we have had a disappointing year here in BLU doesnt do the inertia we are experiencing justice.
I hope there isnt a need for new funding as I fear it will come at a price for Satoshi - we can clearly see the slipped timelines on their roadmap - whats the first question potential investors will ask. If funding required I genuinely think they will struggle. I would of expected that if a funding round was required, they might grind out these milestones rather than marketing their future - theres a time to present and a time to graft! They may argue the roadshows is where they meet potential backers - again - it would not result in me wanting to invest.
I’m talking over a fairly long period ntd
Come September I’ll have held over 7 years
I’ve been posting here since 2019
I remember numpties like 888icb worshipping meinhard , I think he created a shrine with his meinhards NFT on it
I wonder what their November round up on medium will contain?
My guess is more jam tomorrow !
I had a little look at pendulum TG, looks like they deleted it!?!
Didn’t like the criticism…
Not sure they can get the jam out the cupboard for that Slug, let alone take the lid off in future
John077
Exactly
They can’t take criticism
They haven’t got the minerals to respond
What on earth are they doing 😂
Quick to delete telegram posts and book holidays from the company coffers
Slow to do everything else
No time to respond. Probably too busy at the airport boarding a plane for somewhere exotic 😂
I remember last time someone posted on meinhards Twitter or Satoshipays Twitter asking some questions and it got removed
I wonder if they treat Tony the same way
Are we looking at another week down the Swanee at Satoshipay? They aren’t exactly striving to surpass expectations are they?
It’s in their interest to drag this out for as long as possible. They are milking the cow for every last drop.
The type of business / people who will put holes in your boat when your back is turned, delaying and taking focus off getting to the destination, whilst making things all about them.
The thing is… when the funding stops and lights go off at Satoshipay HQ, then that’s it. I’d be very surprised if an investor wants to foot the bill for another year or two of jet setting, whilst promising jam tomorrow and getting very little in return.
They (the staff) don’t care. It’s not their money. Why should they care. When the ride is over they just get off and find the next one to get on.
- To obfuscate a simple message of criticism within their own telegram…
- To not reply to a simple email query in 6 weeks…
- To be massively behind on their artificial, window dressed roadmap…
- To squander money travelling to different continents before achieving business milestones…
- To apply for extensions on what should be a simple set of accounts…
…is not conducive of good business
There are many more reasons which I can’t be bothered to list but I will continue hammering points home and raising awareness to other shareholder of this shyteshow here until it is no longer necessary for me to do so
Slug, most investors are aware of the issues, have you tried calling to put your concerns to them?