Sports Card DAO

[Fred]

Originally Posted by swarmee

Well, each share in your example would be worth $11/3.1 = $3.70 each. In case you wanted to sell, you would line up a buyer to purchase your shares, similar to the Collectible and RallyRd transaction marketplace. In Blowout's unopened, you may have to indicate willingness to sell to the oversight company who then offers it to the next person on the waiting list willing to buy in at your sale price.

I think the DAO idea is terrible, even worse than storing stuff in the PWCC vault. And you know how much I abhor PWCC. What if 50% of the cards bought by the DAO are later found to be trimmed in BGS and SGC holders, with no grade guarantee in force at either company? I'm sure the DAO token owners will all make the right call at that point in time. Or if the bank vault the cards are stored in is flooded. How does insurance pay out? If you're really going to be a part of this, read every document and ask every question before you throw cash in the hole.

John, were you being facetious when you indicated the shares would be worth $11/$3.1? I would have figured that the shares would be worth $11 - $3.1 because that would be the amount of "profit" the fund increased from the time of its inception.

My biggest worry would not being able to line up a buyer for the shares at the $11 and taking the profit ($11 - $3.1). If you could only get $9 for each share/token (or whatever they want to call it), then wouldn't the actual value of the entire portfolio be $9M instead?

All you would have to do is try to maintain a >50% ownership and the block chain wouldn't mean crap because if you have a majority of the shares, then what you say/vote is going to be what happens with the "fund" (or whatever you want to call it).

[swarmee]

Originally Posted by Fred

John, were you being facetious when you indicated the shares would be worth $11/$3.1? I would have figured that the shares would be worth $11 - $3.1 because that would be the amount of "profit" the fund increased from the time of its inception.

If the current value of the fund is $11 million dollars and there are 3.1 million shares, as you posit, they are worth $3.70 each, not $11 each. Up 270% from an original theoretical share price of $1. Not up 1000%, which is what it would have been from a $1 start price. That would mean the fund would have to be worth $30M+ currently. It was just bad math.

[Fred]

I must have misunderstood. I thought the change in value was $11M (current value) - $3.1M (original value) or about $7.9M in "profit". Therefore I was thinking the shares should be selling at the current value of $11M. It's understood that the increase in share by percentage is 11/3.1 (or about 3.55x).

[gabrinus]

As a member of the Trotskyite Labor Party I am firmly against Decentralized Autonomous Organizations...as least I think I am supposed to be...Jerry