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Cryptocurrency for MTV

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remedcu
Traffic Value: $1,311.728 India
7 like this post 2 people
27/07/2017 12:30
I know Marc is not much interested in this, as I tried to spark this idea, but maybe we (crowd) can fine tune this idea and make this much better appealing.

As the thread heading, I want MTV to make their own coin for their RPs.

Name can be MTV or anything else also, as in future, we intend to change the name of whole platform, so anything is fine.

We can create the coins in Waves which will cost just below $5 to create 500 Million coins.

Then we can create a claim page for users and tell them how to prepare themselves to get their RPs in their wallet.

DEX can be used later to trade between users and even other users to enter our market in the initial stage.

Those users who does not claim the RPs within an intended amount of time, they will not receive their coin, and those coins can be burned OR can be used by the company to raise funds in future OR can be used to pay the FTQ

A simpler way (cost efficient) to make the claim easier is to make another payment type just like a payment processor (litecoin, bitcoin, etc), and request the users to fill in the waves address in that payment type for those who want to receive their coins. Declare a day when this transfer will happen. And within a week or two, transfer the amount to the users.

If there are many work behind this which I don't see, then maybe we can start a small crowdfunding for the same to raise money to hire people or pay the programmers for the same.

If we can get into good exchanges in few months, then even the company can sell their coins for quick fundraising as well as buy back, when the company seems it a good opportunity or when we have profit.

Similarly we can implement this as a payment option in our PBG as well.

We have DomingoX6 as a Full Member of Bitcoin Talk who can introduce this coin to the BTC community.

Unlike other companies, we have some great products and not just ideas.

The only problem in this is that users will not get dividend ever. (Or maybe we can write a smart contract for dividends when waves will have that feature)

Well, this is kind of just draft of the idea.

What do you guys think of this?
dguy
Traffic Value: $15,993.01608 Canada
2 like this post 0 people
27/07/2017 14:32
500 million is too many. Better to make a small float like 5 million coins. 500 million is part of the problem here. The market is saturated
remedcu
Traffic Value: $1,311.728 India
3 like this post 0 people
27/07/2017 14:48
100 to 1 reverse split? Not a bad idea

But, that will cost the portfolio or any other company account to lose about 12M RPs (~$24K) as there are about 122K people in MTV who have less than 100 RPs.

(Well the numbers are considering the highest possible loss, not the accurate answer)

But at the same time, there will be many people who will not even care to check once a month, so there is a chance that, this will do more good than bad.

Why I can be sure?

Last time, before sw@p, I contacted gummybear to change his balance to RPs, and he had about 30K or so in balance at that time. And he didn't even cared to check once a month.
freak300
Traffic Value: $56,564.16117 Germany
2 like this post 0 people
27/07/2017 17:04
I like that idea a lot smile
dguy
Traffic Value: $15,993.01608 Canada
1 like this post 0 people
27/07/2017 18:03
Maybe 50 million shares then. One thing is for certain. That last split to 500 million was a disaster for MTV. Jo never should have done it but he had other plans for the site of course
druth8x
Traffic Value: $22,417.44153 United States
2 like this post 0 people
27/07/2017 21:24
If you don't recall, when RP's are going to be exchanged for shares (when we get new platform/get legal etc), the final amount will be a very low amount, like 5 or 10K. Final number hasn't been decided yet as of last public.

Also, for those under the convertible number, you will be forced to buy to the lowest convert number or get them exchanged at the going rate.


This is the current/last known future plan with 500mil RP's.
dguy
Traffic Value: $15,993.01608 Canada
6 like this post 0 people
27/07/2017 21:35
I think an ICO would be better. That would mean low cost legality and we could do it soon. Plus there is the fad factor. With everyone and their grandmother willing to buy almost anything the ICO market has to offer, there is a lot of money to be made. The ICO market is where the internet stocks were in the late '90's

Plus an ICO would be tremendous marketing for MTV. With many other ICOs offering air, we would be a surprise to them because we already have our basic operations built
carvalho17
Traffic Value: $28.3459 Brazil
5 like this post 0 people
27/07/2017 23:49
"Plus an ICO would be tremendous marketing for MTV. With many other ICOs offering air, we would be a surprise to them because we already have our basic operations built"


Good point, but wouldn't they worry in investing in a company with a hundred thousand in debt?
remedcu
Traffic Value: $1,311.728 India
3 like this post 0 people
28/07/2017 04:25
There won't be debt if we follow the method I suggested (Or maybe we can better it).

Roadmap:

- Make 500 or 50 or 5 Million Tokens
- Make a claim page for those who want to claim these coins for tokens
- With the rest of the tokens which was not claimed, use that to repay the FTQ in the current price and some of the portfolio RPs as well if deemed necessary
- Close MyMatrix after another month cycle or sooner, and repay users with paidverts advertisement as it was meant, because MyMatrix is clear MLM/Ponzi.
- With the part of the Tokens from portfolio, make an ICO and go public (Advantage: Fund Raising & Marketing for MTV and its products)
- After the ICO period ends, distribute the tokens to both the ICO investors and our initial RP holders.
- Integrate our token as a payment option in our platform as well as PBG, Paidverts, etc.
- Get listed on small exchangers first, and then slowly into bigger ones.
and so on.
MarcdeKoning - Administrator
Traffic Value: $468,983.12758 Netherlands
7 like this post 1 people
28/07/2017 09:57
There are so many things wrong with this idea..
I appreciate the effort, but as I indeed said in person, this just doesn't work.

-ICO? What ICO?
Tons of people have shares already, if it would be anything, it would be more like a round B or C funding or what not.

-Current valuation

The current valuation of the business is completely ridiculous in my opinion and we are absolutely not aiming to sell the company's shares for these prices.
We are not willing to do such a thing when they're called RP's, so why would we want to do such a thing when they're coins?

-Our current issues

People completely turn your business upside down when investing in an ICO, this means there will be a spotlight on all of the mess created in the past.
In here you guys realize that we are not the bad guys and we are the ones trying to fix it.
They won't know that and all it will do is just harm everyone's image.

-MTV is not built on a blockchain

At current prices we would spend a whole lot more than what we would even be able to get out of it to transform it all, at least as labour intensive as renewing the website from scratch.
remedcu
Traffic Value: $1,311.728 India
3 like this post 0 people
28/07/2017 10:30
Regarding ICO,
If you check the ICO market, there are some very crazy and absurd ideas out there, on the other hand we have got many products (I know not related to blockchain).
I know I don't have to tell you about that, as you know the ICO market much better than me.
But even if a series B or so funding is fine. Recently Everex or so called Venture Company raised money like this.

Regarding Current Valuation,
Right now the company is worth 1Million (500Million RPs for $0.002).
With the amount of effort put, that may seem low.
But if we see this with an outsider's perspective, this is not something to be ashamed of, neither to be proud of. With 1M in valuation we have multiple working products in the beginning state, and that is fine. We can surely build up from this if we get other outside users as well.
Cause, within this community, there are not many buyers right now (hoping that is temporary)

Regarding Current Situation,
We are at the worst right now, there is nothing worst than this I believe. We have huge debt, our RPs are at the lowest, our casino's are giving away money, our results are low, our other products are not getting the required traffic as well and so on.
If you and the team can accept all this, then we as a family can face those allegations.
And we have proof of many things, and Jo has proved his dishonesty & immature behaviour yet again with his new venture leaving everyone in between.
So, we don't have to be afraid of things we have not done.
Rather we can show them how we have overcame all this and still survive.

About MTV not being built on Blockchain,
A very valid point, but we can raise money for our products and sites. There are people who have raised money for nothing, like uetoken.com
Compared to those, we have a lot more to offer and show than others.

Agreed, there will be labour intensive work for sending token to about atleast 150K people (Approx. No. of RP holders), but won't it be worth the pain?

In time of crisis, we have tried always to be together, maybe this can be a last chance for us to regain the former glory.

P.S. Thanks for considering my effort wink
freak300
Traffic Value: $56,564.16117 Germany
0 like this post 6 people
28/07/2017 13:25
I think we all know that Marc and the team are putting so much into this business and have built and worked on so many amazing products that are of super high quality and it really means a lot to me and all the others. Marc has been running around now for two years, searching for ways to build a sustainable business.

However we are still having some of the same issues we have had back then (namely the FTQ). I understand that Marc wants to pay everyone back and it shows that you are an ethical person that cares about others but on another level we should ask ourselves if we should actually take responsibility for something we are not responsible for and most importantly: what is the price of doing that, not just right now but also long term?

I think we really need to look at this more closely and maybe reevaluate some things. We have $222000 of debt. That in of itself is 1/5 of the business at the current valuation. I don't remember the actual average monthly income that we have right now but from what Marc has written a few weeks ago it is not enough to cover the costs and we are losing money. 

I like the idea of cutting back costs and I understand that it only makes economical sense to do so in our current situation but I think we shouldn't just lower our costs but also our debt because that is a cost in itself that is not just a heavy weight but at the same time also stopping our future growth a lot as the reinvesting of profits will be 0 even if we make money. 

As I said the debt is $222000, so the first step I would take is to reduce that debt simply by not repaying $222000 but by saying we will repay the original investment and nothing more. That means the debt would be $50k less. Furthermore I do believe that most people that we owe money to have given up on their investment a long time ago. If you look at the forum it's like a dessert and only a very small number of people is actually still left. This means: I would do this: why don't we ask people via. Email to confirm their email in order to stay a part of the community and in order to keep their account? 

We have a user base of 2M+ but only very few seem to actually open our emails and I think a lot of people still see us as a scam. Who says that paying of everyone will actually results in people withdrawing or using their money? Who says they will even login and check? Why don't we delete inactive users and with them their debt?

It might sound harsh but how can we expect to repay everyone with a business that doesn't generate enough revenue to not fall into debt? How much money do we expect to make additionally as a result of saving money? Maybe $10k/month?

That means it would take us almost 2 years to pay off the FTQ. Is this really something you want to do Marc? I see you as the guy that wants to build something giant and not to sit on $200k of debt that is hindering you from growing this company to the size that you know you can grow it. You have proven to be a great leader and CEO but you deplete yourself for someone else's faults. I see it like this: if people want their money back they should ask Jo for it, not you.

Remember: most of those people won't stay with us anyhow. They always knew that when Jo ''managed'' MTV it was a HYIP and built on weak legs. Those people have already accepted the loss and moved on to the next thing.

I have seen quite a few people ask for a swap, so why don't we offer them that option? If they want to accept it, let them. Who cares about the RP price? It is low anyhow because the non believers are already leaving so if people sell super low why is that a big deal? People that understand and want to stay with this business will buy those cheap RP's and will understand the long term benefit and the other will leave anyhow. 

Reduce the FTQ to break even point and ask people to verify their investment or they will lose it. Give them the option to swap their RP's if they want to and I believe our debt problem will be a lot smaller pretty fast. 

It is not your responsibility to repay us, no matter if that is through MTV's profits or through your own cash. I believe that by looking at the problem differently and actually taking apart you will see that a lot of the people that you think you owe something to have moved on a long time ago.
Jack1953
Traffic Value: $93.136 Brazil
5 like this post 0 people
28/07/2017 14:41
Why don't we delete inactive users and with them their debt?


What about if they are inactive waiting to be paid
Isn't that move a scam move?
freak300
Traffic Value: $56,564.16117 Germany
2 like this post 1 people
28/07/2017 14:51
Yeah we email them first and if they don't confirm their email by clicking on an activation link it could be considered as an inactive user. If they won't take action to keep their account alive, why would they even withdraw the profits they made with the FTQ? How would they even know that they have been paid if they don't check their email or at least login on the website?
Jack1953
Traffic Value: $93.136 Brazil
3 like this post 0 people
28/07/2017 15:12
Yeah! That could be a fair move…or….not
The best could be to pay them of. 
Email them giving them a time frame for them to cash it out.
Only those who never give an answer or not cash their money out should deserve to be banned (accounts deleted) and by doing so they would be ripped of their money and their assets move to the company.

Remember there are more than one way to be an inactive user. 
Track my activity here. No money. No RPs My FTQ have been sized. BUT I keep an eye from time to time. I am on the waiting mode to see whether or not  the business began to pay its investors. 
Do I deserve to be banned (account deleted) as well.
Would it be fair?
remedcu
Traffic Value: $1,311.728 India
3 like this post 0 people
28/07/2017 15:24
Guys,

Right now we are into the discussion of whether ICO is a way for us to get out of this.

Don't come into conclusions, suggest ideas.

I agree that those who don't check their investment once a while, is not good.

But at the same time we should not take rash decisions.

The best option will be to combine both of your ideas.

- Announce about it in the News Section
- Send a mail twice before the final move (That thing costs, so just twice)
- Use our social media and forum threads in different platform.

If even after all this, we get no response from the user, then surely as freak said, it would be better to move on.

And like jack said, I am also mostly watching the things silently, writing only time to time. But if they get all these notification, and still does not do anything, that is their own decision.
bigbadmoose
Traffic Value: $520.60691 United States
2 like this post 0 people
28/07/2017 15:32
I have to agree with Jack. i dont think taking inactive users accounts and deleting them in a positive idea. 1 what do you call being inactive? 2. Said person might not get the email so they should be punished for not getting a email and clicking a link. 3. so the click the link and they safe how long before you do this again cause they go back to waiting to see what happens.

I truly think the best option is to keep working on a way to pay off our debts with out deleting anyone account. Maybe if everyone is paid off and 6 month to year down the road you see these account are still inactive then maybe do a purge. But doing it before seem to be kind of scammy imo
freak300
Traffic Value: $56,564.16117 Germany
1 like this post 0 people
28/07/2017 15:37
remedcu completely understands what I mean. I am not trying to rip of people here but to be able to realistically see what is necessary. I do believe that we don't need $222k to fix this problem. All this is supposed to do is to act as an audit to see how much cash is needed.

We shouldn't pay out cash to users that don't even check their account and the money just sits there and once the platform will be moved will be gone from their account anyways...
remedcu
Traffic Value: $1,311.728 India
3 like this post 0 people
28/07/2017 15:47
As bigbadmoose said, there can be case of:

- Not receiving the email for some technical reason
- Receiving the mail in Spam, etc.

For that reason I am suggesting a 30 day interval before a decision is taken (It can be more)

Also, that is the prime reason why I suggest to use all means possible (in our forum, social media and other MTV related threads)
druth8x
Traffic Value: $22,417.44153 United States
9 like this post 0 people
28/07/2017 15:50
"once the platform will be moved will be gone from their account anyway"

How so?

Balances are ours to keep.
They represent actual cash, and not a debt.

Granted, it will take longer to gain the revenue from FTQ's that have investors that may never ever come back, and I do mean never, not even 10 years, and then possible even longer b4 taxes recoup that, but that was the terms we setup when we made the FTQ.

And, let us not forget Marc didn't close the FTQ right away, far from it.
In fact, none of the current FTQ is under Jo's reign.
It's a lower FTQ rate, but it's still Marc's debt.

Don't forget it is much easier to retain current customers, than get new ones....even if they miss all the warnings, but do see MTV advertised all over the place, and say oh yeah, and they find that they have their cash in their account (save taxes), they will be very good word of mouth that we keep our promises, no matter how desperate we may get, we pull through. That is worth way more than our FTQ debt in word of mouth advertising.
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