Re: [ANN] Lykke - Semi-decentralized Exchange on the Blockchain
kadscuk: I think beliefs are one of the hardest things to change, and if you believe that Olsen is dishonest, there's very little that can be done to change your mind.
Here's my take on your questions:
1. Why is he talking about a jump if the market cap is already $481mn?
I think there's insufficient info given in Olsen's reply in that reddit thread, and will personally wait for more details (an official announcement on their blog, hopefully). It seems like what wasn't tradable in the past is now tradable, so logically speaking it should contribute to the market cap. Why now though, that's a valid question but I'd rather wait for the answers than to jump to conclusions.
2. Why is he saying lykke is a high risk investment?
Because it is? Would you have preferred him to not say it, or to say that Lykke is a low-risk investment? In either case, given your underlying belief that Olsen and the Lykke team are dishonest, there would have been an argument from you anyway, right?
3. Why is he saying they will make mistakes along the way?
I think it's actually very respectable for Olsen to say something like that. It shows transparency. Of course, you can also view it as him given himself an escape route.
It's all about perspective, and we all make decisions based on part facts and part beliefs.
Ultimately, I believe you must have made a nice profit selling LKK
. So lighten up a little and enjoy the profits!
Here's my take on your questions:
1. Why is he talking about a jump if the market cap is already $481mn?
I think there's insufficient info given in Olsen's reply in that reddit thread, and will personally wait for more details (an official announcement on their blog, hopefully). It seems like what wasn't tradable in the past is now tradable, so logically speaking it should contribute to the market cap. Why now though, that's a valid question but I'd rather wait for the answers than to jump to conclusions.
2. Why is he saying lykke is a high risk investment?
Because it is? Would you have preferred him to not say it, or to say that Lykke is a low-risk investment? In either case, given your underlying belief that Olsen and the Lykke team are dishonest, there would have been an argument from you anyway, right?
3. Why is he saying they will make mistakes along the way?
I think it's actually very respectable for Olsen to say something like that. It shows transparency. Of course, you can also view it as him given himself an escape route.
It's all about perspective, and we all make decisions based on part facts and part beliefs.
Ultimately, I believe you must have made a nice profit selling LKK
. So lighten up a little and enjoy the profits!I think your misunderstanding what Olsen meant in that post or what Im actually saying here, or what my actual questions were.
Let me clarify:
The chief guy who is extremely busy doesnt go on reddit to write about stuff that isn't relevant to the discussion.
He is mentioning certain things because they are relevant to the points discussed.
The points discussed are market valuation and its calculation, high risk and mistakes, which is exactly what he's mentioned and is talking about in that post. Add those all together because they are relevant to each other, and you'll understand better what he's saying...they are related within that context and are relevant to each other. What you're doing instead is taking each of these in isolation and seeing them as separate, resulting in you ending up missing the actual meaning.
In simple terms you're showing inexperience and lack of insight to interpret things correctly. Olsen is an entrepreneur and entrepreneurs will understand him better than the average layman.
Re: Why is he talking about a jump if the market cap is already $481mn?
What this question means is: you wouldnt be talking about any "jump" if your valuation was already $481mn. He is talking about a jump because the valuation is NOT $481mn at the moment.
This infers that the actual market cap he is talking about is not the total coin supply market cap (ie 90% coins + exchange traded coins) which would give the $481 mn, but the circulating supply market cap.
The market cap reference he is referring to is the public market cap. You don't talk about a jump unless your talking about the public market cap in this context...not the private valuation (the $481mn one).
The calculations given by Olsen to coinmarketcap are the valuations of the public market cap and is how it was supposed to go. Now he's changed this...can't get any simpler than that.
Re: Why is he saying lykke is a high risk investment?
Look at the context of his post. He isn't talking about high risk for the sake of it...there's a time and place to talk about certain things and a busy CEO doesnt just come out with random statements for the sake of it. He is talking about high risk because he just made a high risk announcement.
Re: Why is he saying they will make mistakes along the way?
Again, look at the context of his post and the thread he posted it on. He is talking about mistakes because it was a mistake to only include the exchange traded coins in the total market cap calculation. This is really simple for anyone who has been following LKK closely to understand...
Olsen doesnt just add this in randomly you know. There is a time and a place to talk about mistakes, and he is talking about mistakes specifically in this context because he realises he made one. He is positioning it well and moving on.
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I dont think Olsen is dishonest at all..he's made a legitimate mistake and he'll learn from it and move on. He's creating transparency through this move and that's totally fine for the long term viability of the project, which ultimately I believe will be very successful. However, as I've said its going to cause some investors to sell....because now the ROI is much less than it would have been, had Olsen stuck to his initial strategy.
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1) I've replied on all of your points to be precise. If I am I would appreciate that you do that as well instead of simply writing down another long text.
2) What I really don't like is how you combine your concerns and opinions with given informations to come to conclusions that are often also only opinions, even hard accusations, that you state as facts.
With such a "communication-strategy" you could attack everything and always imply that Lykke and Richard Olsen would mislead and lie and whatever you come up with now.
That is especially a problem, whenever you imply that Lykke changes a strategy and that is totally wrong but you don't get or just hide, that coinmarketcap also changed the way how they display the supply.
What I would like to know is:
Why are you so critical now while I'm not aware that you have said anything all the time before if that is your point? It was wrong in the past. What have you missed in the past that you didn't say that?
Edit: not saying I won't reply on your previous post. There is enough I should reply on, because I wouldn't like to see all the accusations without putting things into perspective (again).
2) What I really don't like is how you combine your concerns and opinions with given informations to come to conclusions that are often also only opinions, even hard accusations, that you state as facts.
With such a "communication-strategy" you could attack everything and always imply that Lykke and Richard Olsen would mislead and lie and whatever you come up with now.
That is especially a problem, whenever you imply that Lykke changes a strategy and that is totally wrong but you don't get or just hide, that coinmarketcap also changed the way how they display the supply.
What I would like to know is:
Why are you so critical now while I'm not aware that you have said anything all the time before if that is your point? It was wrong in the past. What have you missed in the past that you didn't say that?
Edit: not saying I won't reply on your previous post. There is enough I should reply on, because I wouldn't like to see all the accusations without putting things into perspective (again).
Sorry, i'd love to reply in detail but im far too busy, so i'll be brief:
Everything I've said is based on what Olsen himself has said.....I havent just come up with something random out of the blue.
Olsen himself posted on the reddit post and you can see clearly what he wrote. There is no mistaking that whatsoever. That is the basis for this whole discussion and everything else is just assumption.
Within the context of that thread and discussion, he is very clearly talking about the valuation of lykke, the high risk nature of lykke and mistakes that will be made. The CEO doesnt just say that out of the blue and in a random way. All of these points are related - he made a mistake with the way the valuation was calculated (the public valuation) and now he has done a u-turn (a high risk move) to give a more transparent valuation. In the long term it will be better for lykke of course that the mistake is corrected now. And yes, I do believe the lykke project will make a lot of money and will ultimately become highly successful.
That is total common sense to me....if you can't see that, then that show's you lack a deeper insight...no offense
I've sold my LKK and am moving on...if your just looking for an average profit then LKK might be a good investment for you...but that's not for me. (and Im talking long term investment for the average profit, who knows what will happen when the market cap updates...also it depends on the timescale that existing investors are looking at for their ROI).