/biz/ - Business & Finance

wew

>>53457497
It is good news, in a way, but also makes no fucking sense whatsoever.

Kevin Murcko co-founded Coinmetro and co-founded Ignium. They always made sense as one company, with 'Ignium' operating via a Coinmetro portal. How the fuck else was a company as small as Ignium ever going to get any mass exposure? So why were they ever two companies? Was it just bet-hedging that one would survive? Kevin is presumably paying back everyone who put money in- so he's not even cynically ripping people off. I guess you could argue that it enabled more money to be raised initially, even if it was paid back- but why not just wait and found Ignium later as part of Coinmetro? It's not like they've done much in the meantime. And I wonder how the paying-back will even be achieved, it's not like Coinmetro has much cash. Maybe Kevin foregoing his stake in Ignium will be part of it; so other investors get paid but Kevin doesn't.

>>53457556
Personally this is great for me though. I'm looking forward to gambling that fresh Ignium equity money on shitcoins in the current accumulation period, and now my Coinmetro equity de facto incorporates the potential of Ignium too. Thanks Kevin!

Also fun that out of the big three equity offerings (Encrypgen, Ignium, Backify) it is Backify that is actually succeeding

>>53457581
That's because it's ran by a competent person.

>>53457589
Do you know much about it?

>>53457609
Basic deduction, same person runs backify and coinmetro, both are getting better, other people run dna and ignum, both had to sell.

>>53457556
Thinking about it, maybe it was helpful to Ignium to not be tied to a crypto exchange in terms of ease of regulatory, banking access. That could be part if it.

>>53457620
>same person runs backify and coinmetro
Kevin? I'm not sure he is involved in Backify. I thought the link between CM and Backify was Oli

>>53457581
Backify is honestly a really good cashback platform, I use it regularly.

The are currently giving anyone that signs up through a referral link $5; so that's a pretty good incentive to try them out.

>>53457637
Think about that one for a bit.

How does backify even make money?
Any interesting stores you’re likely to buy from many times over ten years available?

>>53457685
>many times over ten years available?
Based stroke poster

>>53457694
Perfectly readable to me.

>>53457685
They make money through commissions.
You can seach for supported stores on their website https://backify.com/gb/start

>>53457745
>Buy via Gemini with cashback
>Learn to cashout via Coinmetro
Heh, nothing personal.

>>53457774
Huh? Must be the stroke talking.

>>53457795
You two are the ones having a stroke.
It’s good advertisement if you convince gemini buyers to use backify and they learn they can cash out to crypto via coinmetro. That’s a foot in the door.

>>53457670
Imagine being this wrong and yet this condescending. Oli doesn't run either
>>53457655
Yeah, I really like it too. It just seemed like a market that was already saturated. Kudos to them for putting out such a good product so quickly and nailing the marketing
>>53457809
Ygood point, that is exciting

>>53458217
>Oli doesn't run either
What do you mean

>>53457556
at the time of ignium's inception cm was in bad shape so I can see why it wasn't just one company

also CM isn't paying 4 million dollars in cash for ignium, it's mostly a share deal so they're really mostly paying in equity

>wanted to buy the cheap bonds on ignium for easy profit
>somebody beat me to it before my money got transferred
FUCK

>>53458233
https://blog.backify.com/meet-the-backify-team
>>53458372
Is it mostly equity now? Kevin explicitly said it wouldn't be last ama

>>53458527
What do you think a COO does?

>>53458519
FUCK

>>53458533
Not run a company. At best they enact the decisions made by leadership

>>53458372
>>53458527
It's 80% of Ignium investment in cash or 100% in CM equity (actually 200% because it's at a reduced CM valuation according to Kevin?)

>>53458538
I'll be seething about it for a long time. That autist dumped his coinmetro and encrypgen bonds at a 30% discount to get his grubby hands on this before I could.
Fuck you i***@***m for hogging all the good deals. I could have recouped all my shit investments if I got in on this

>>53458664
>@***m
@Ignium.com

>>53458619
yeah but there's also major ignium shareholders who wanted out and that's the majority of the deal

>>53458757
Ah I see. I bet they're just delighted to be receiving equity in an unknown crypto exchange

>>53459814
look at it this way, if you were a big ignium shareholder and you wanted out of ignium you have 2 options
have ignium liquidate and you get some of your money back after god knows how long because the liquidation process
or
let cm buy out ignium in exchange for cm equity knowing that cm is intending to fund raise in the near term and you'll probably be able to sell your cm equity sooner and for a better price, at least better than the money they could get from ignium liquidating

neither option is great but we know which one the shareholders went with now considering CM isn't paying 4 million dollars in cash even if retail ignium holders take the cash option

>>53460086
Sure, that all makes perfect sense. But according to Kevin in the ama a week ago the big investors in Ignium just wanted out. I wonder what was said to make them change their minds? It may well be that- as you pointed out- they didn't really have any other choice

So what's the choice here? Also is Coinmetro Equity the same as Coinmetro Bond?

>>53460163
I imagine they didn't fully know what options they had back then or maybe something on their side changed to make them more open to CM's deal
we'll probably never know

>>53460163
Ignium was fundraised in the middle of the last bullrun. I can see how some boomers got scared of crypto and want nothing to do with it anymore

>>53460086
>>53458619
Fren, what would you do? Buying coinmetro shares at almost 50% the current valuation is nice, but so far CM has been underwhelming, and I have a couple of shitcoins I'm ready to throw the money to. I still believe that IF cm get it shit together they could do very well, but I really dont know anymore.

So 100% (200%) CM or 80% something else?

AHAHAHAHAHAHHAAHHAHAHAHHAHAHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHHAHAHAHAHAHAHHAHAHAHAHHAHAHAHAHHAHAHAHAHHAHAHAHAHAHHAAHAHAHAHAHHAHAHA

>>53461838
80% in cash is a fucking good deal after the crypto crash, it is a better performance than 99% of crypto

Failing company buys failed company. Surely this will end well.

AHAHAHHAHAHAHAHHAHAHAHAHAHAHHAHAHAHAHAHAHHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHHAHA

>>53461273
I'd diversify but lean more towards shitcoins

>>53462412
>but lean more towards shitcoins
I want to have a million dollars and buy a tiny mansion and a ten thousand dollar bubble bath in my bathroom.
I have one thousand dollars in my name.
Any shitcoin recommendations?

>>53462448
I don't have any shitcoin recs, I'd just say be careful to avoid rugpulls

>>53457809

>>53463400
On standby, the manipulators are hard at work.

>>53463400
>ID: Mumu Cope

>>53463939
lol

does this help xcm price or what?

>>53461231
Sure, but that is one of the only two arguments for Ignium being a seperate entity in the first place. It was explicitly NOT a crypto company. I guess the people who invested could have just been unable to figure that out
>>53461273
CM equity makes sense with larger sums of money (because you'll have great access to liquidity if CM is the next Coinbase) and a long time-horizon. Perhaps also for someone who just wants to walk away from the whole thing for a while, since you don't even have to fuck about with staking. It's also, arguably, diversified away from a pure crypto play with the acquisition of Ignium.

But- if you have say $2000 and want cash money in your hands in the next three years and you're able+willing to actively trade (even if just buy low sell high) then it would be silly to take CM equity. A nice in-between compromise would be putting some of the money into cheap XCM on uniswap desu- since if MARS is ever sorted out that will give you a diversified little portfolio of up and coming shitcoins with no effort required.

>>53464850
No, but it's very bullish for anyone who holds Coinmetro equity

>>53464536
checked

>>53462217
oh my god. I'm never ever going to be able to sell my XCM. Not putting a penny more on the platform either

>>53457497
The verb is 'acquiring.'

>>53463923

>>53465441
The polar bear has cute eyelashes to distract from the fact that it would tear you to shreds within seconds if you do not kill it first.

>>53465457
UwU

>>53457497

> acquisitioning

>Coinmetro are so broke they are only personally refunding 60% losses to Ignium holders instead of the full 80% loss.
It's over.