Dear CryptX Team,
as you might already read in the SCRYPT Thread there is a lot discussion regarding the way you manage the Project. You as the Hoster/Share issuer are responsible for your investors so please do not ignore us. Happy Investors will spread positive word of mouth anywhere which results in a Win situation for you too.
With that official mail we would like to get your attention concerning our situation which is currently not reallly good.
Suggestions were made as follows:
(1) let the Shareholder decide which Hardware should be bought witht he reinvestment Fund
(2) write at least one update per week in the BTC-talk Thread. Further plans, current LTC rate, how many LTC were mined...etc.. pp
(3) a Possible BUY BACK until IPO Price (perhaps also IPO price - 10%) with the current Reinvestment Fund.
(4) Choosing of a more profitable Multi Pool than now (nice-hash e.g.)
Thanks in advance
Cheers
That is the Mail i wanted to send. Please correct anything if there is something wrong. (grammer, content) and also feel free to add other suggestions. I will send the Email in the next 2 days.
Thanks
I've got a qualm with #1 and #3, though nothing major (and I'm happy to hear counter-arguments).
For #1, letting shareholders decide which hardware should be purchased isn't necessarily helpful. We can choose the fastest hardware on the market, but if Cryptx can't get a discount on them, then what's the point? Instead, I'd push for more of a combined effort, where Cryptx mentions who their primary partners are, and from there we can see if anyone else can beat their 'value' per MH/s (including price, efficiency, and speed).
For #3, a buyback using the reinvestment fund kills any chance this fund has of growing (how are we going to purchase hardware if all the money was spent on buybacks). This would just result in a [very] short-term gain as dividends would be higher (given there are less outstanding shares).
Other than that, I like the basic underlying content, but I think it should be fleshed out quite a bit more. I reworded the message a bit, but the overall substance is more or less the same:
Dear CryptX Team,
There has been quite a bit of discussion on the BitcoinTalk forums regarding Scrypt-X and its potential. Unfortunately we, the investors, are finding it difficult to have our voices heard as it doesn't appear you frequent the forums any longer.
Given the volatile nature of some active members, this is understandable, but we’d still love for you to communicate with us nonetheless. I trust you’re already aware of the unparalleled value active communication and professionalism can add to a developing asset. As a bonus, contented investors are more than willing to market your funds and skills; a positive situation for all involved parties. We just need a reason to go this route.
With this in mind, we wanted to bring your attention to several suggestions that have been posed so far, and with your guidance may help revive Scrypt-X to the growing asset it once was.
(1) Communicate with investors at least once a week on the current status of the fund, including any upcoming plans or ideas to help expand the mining capacity. Doing this will bring some much needed insight to both current and potential investors. This doesn't have to be on the BitcoinTalk forums either. If a dedicated, active, and informative blog can be created on the Cryptx website, we’d be more than overjoyed with the update.
(2) Include more detail in the financial statements, such as which coins were mined, what was their conversion rate to Bitcoin, how much electricity was used during the last period, etc. The more detail that can be provided, the better. There may be cases where investors know where to exchange coins for a lower fee.
(3) Select a multi-mining pool that is more profitable, if one is available. It may be best to utilize a website such as PoolPicker (
http://poolpicker.eu/text?algo=scrypt) to determine which pool provides the best payout per MH/s.
(4) List hardware manufacturers that have offered discounted prices (if possible) and include details on the hardware that would be purchased. In some cases, investors may know of another manufacturer who can provide better hardware for a similar price, or the same hardware at a greater discount. This also allows the manufacturers to see what their competitors are offering. Increased competition will help drive better deals in the future.
As always, we appreciate your willingness to hear our concerns, and we hope our suggestions can generate a positive effect on the overall health of Scrypt-X.
Thanks in advance