Has Daniel Harrison managed any hedge fund before getting into the cryptocurrency industry? And if yes, 1) for how many years? and 2) what was the average yearly performance?
Will this Monkey Capital hedge fund be mostly into trading or mostly into investing, or an equal mixture of both?
Are ethereum owners not welcomed to participate in the ICO?
Will funds collected be invested into blockchain-related companies, or non-blockchain-related companies, or both? If both, what will be the ratio in rough estimation?
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From the whitepaper...
3.2 WHY IS THIS SIGNIFICANT FOR MNY TOKEN HOLDERS?
For MNY token holders what this amounts to is the following:
A token investment which pays out another 50% of its own value in free tokens in upcoming ICOs alone
A token which is progressively repurchased off the market almost from Day 1 due to the proximity of the KEY ICO in late August
A Waves-traded Token which will benefit from the liquidity of the ERC20 traded-marketplace
A long-term store of value that will ultimately either be repurchased at fair market value or above fair market value but which is unlikely to be repurchased below fair market value
A token which by virtue of its own income-enhanced structure and as a result of the other tokens issued on the back of its holding status at the point of forthcoming ICOS, returns far in excess of its face value or purchase value very quickly, paid in both ETH and BTC lots
In terms of Waves token holders, this is also a brilliant strategy since by virtue of the alternate listings across the digital asset spectrum it will deliver long-term liquidity back to WDX
This sounds like some pyramid scheme.
The cash inflow of token holders are dependent on subsequent ICOs as buyback, i.e. collecting 2nd and 3rd group of people's money to pay back the 1st group of people, instead of return from providing any utility value to the economy.
5.0 PROJECTED FINANCIALS
Monkey Capital will have two core sources of earnings:
the issuance and sale of digital tokens backed by assets and dividends and
the trading of assets with hard-to-define values into portfolios belonging to the SPVs which underwrite the token issuances
"hard-to-define values" as in high-risk penny stocks?
I have managed a hedge fund, and the story of it is in the Chapter of a bestselling finance book which I shared openly in Slack (not a very flattering story but still, everyone made money). In fact I manage a private investment fund these days. That is what I do. The ICO is about investing, not trading. This is not a trading vehicle principally. About 30% of funds go into Blockchain related companies, about 30% go into traditional companies and about 30% go into new industry companies.
As to your point about granting old token holders new tokens, I agree with you: it does sound like a ponzi scheme. I actually thought about this when I put the model together in fact. But simply, it is not; it's more like a rights issue on a share, where only those participating get returns in the form of an option to buy into the next round at some preferred rate. But I am with you that marketing it in this way may be somewhat dubious. Further, I don't think these headline points make that very clear and I will be sure to emphasise that in the next version of the WP. I can see your point here though; honestly, I think I would likely point out the same thing in your position too.
Come into Slack and help us; we want more smart, sharp people like you on our team. These are great critiques, I love 'em. Thanks! (We are not affiliated with any Wall Street or other institution either. Honestly, come drop by Slack and meet me - I am about as antidisestablismentarian as they come!)