This is in response to JAO from the shadow era forum.
Thanks for asking some real questions. These must be answered by Kyle but for the heck of it i will too while Gondorian scrambles to answer.
(Note that i am not the person behind ICO.)So do Token Holders own 100% of Shadow Era or 60%?
A: 0%
If Token Holders are now shareholders, does that mean the present BoD can be forced out by majority of Token Holders' vote?
A: Tokenholders are not shareholders. Kyle is the board of directors and Gondorian is his puppet. As always.
The profit-sharing scheme is still paid out in Shadow Token.
A: There is no profit sharing at all.
If the value of ST falls, there will be no "profit."
A: The only one who profited was Kyle. He made around 60k (real money, taxable). Maybe he gave Gondorian some of it.
How can ST price rise if there is no demand for it?
Currently, there is no use for ST aside from giving an all-foil deck to the top 100 holders.
Why create Shadow Token at all when there's BTC and other stable altcoins you can already use to sell shares of the game? Without ST, the shareholders' payout would be in BTC or other altcoin, which is more infinitely useful as a trading currency because of the demand.
A: Why use cryptocurrency at all? Because cryptocurrencies are anonymous and not refundable. Perfect for scammers.
There is talk of a trust fund being managed. I don't understand that. Who runs that and what is it for?
A: Most likely Gondorian. Look here:
https://suite.endole.co.uk/insight/company/10925102-time-makes-the-world-go-round-ltd?page=overview And the whitepaper says: "A Trust Company incorporated in the United Kingdom will be operated by the Board of Directors." Keep in mind that the whitepaper mostly consists of false and conflicting statements.
He has plans for "Shadowera ltd."
Currently, I have seen no contract legally binding Kyle to uphold his end of the bargain here. For example, if I were to buy all the Shadow Tokens on public sale, that would make me the majority token holder and supposedly, owner of the game.
A: Never. Tokens don't mean anything at all. It's made up fake currency. It was sold with promises (profit share, voting, ownership, etc.), made up numbers and lies. Nothing special for an ICO or Kyle.
But how can that be when token holders have no direct control over the BoD? It is the BoD who proposes, and the token holders just vote. And the voting system is shitty. To vote, you have to use your Shadow Tokens.
A: There has been no voting yet because it would reveal how few hold them and care. It would also be meaningless.
From my current understanding, there is no attractive reason to buy ST. Am I missing something?
A: No.