Two lines in, I get bored by financial talk and lose any interest I had, so can someone explain what this means and how it will benefit City?
https://www.icoexaminer.com/ico-news...unding-models/
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Two lines in, I get bored by financial talk and lose any interest I had, so can someone explain what this means and how it will benefit City?
https://www.icoexaminer.com/ico-news...unding-models/
Presumably they are suggesting that some shares or bonds will be issued that can be purchased on this platform.Quote:
Originally Posted by the other bob wilson
Makes no sense to me though that a crypto currency speculator would then invest in a football club!
From my (limited) understanding it's a way of offering investment in the club by 'minting' and offering CCFC coins, but instead of equity the investor gets to spend the purchased coins on services with the club at a discounted rate, the value of the coins are linked to our value and the value of a network of other clubs minting their own coins all linked to an umbrella 'minter' and broker, (SportsCo), and in turn to the larger cryptocurrencies.
In very basic terms, Say an advertising hoarding costs 120 carrots to buy from the club, and carrots currently cost 10p/carrot, the advertising would normally cost you £12, however CCFC have started selling packets of 60 carrot seeds, (carrot seeds = CCFC Coin), for £6, (CCFC also accept CCFC branded seeds as payment for services the club can offer), but these are magic seeds that yield 3 carrots per seed, CCFC get these seeds from a larger magic seed producer, (SportCo the broker = seed producer) that other clubs/businesses get from also..
cardiff city have received these seeds initially for free. CCFC have just received £6 from the sale of these seeds, the buyer has then spent 40 of the seeds back with us on advertising, so CCFC now has £6 and 40 seeds which will yield the 120 carrots we usually charge for advertising = £6 profit for us, the buyer still has 20 seeds which will yield 60 carrots, so the buyer has received discounted advertising and has 20 carrots seeds which will mature into £6 worth of carrots.
The carrot seed supplier now asks CCFC for £3 of our profit to in turn to make a £2 profit themselves and buy £1 of magic water from the owner of the magic water well, (magic water well = large cryptocurreny like bitcoin/etherium) to make his seeds, the owner of the well depends on lots and lots of producers of different seeds using his magic water well to keep the value of that rising..
So far so good everyone is making a profit and benefiting, if the well runs dry or loses it's magic then everything's ****ed and the seeds don't perform as they should so it's gambling on the strength and potency of the magic well, also if CCFC turn to dogshit and what you can spend your 40 CCFC seeds on is just an advertising hoarding League 2 then our particular seed enterprise is also going to be screwed. It's basically just currency gambling with a lot of branding and brokers involved, which should generate money in line with the growth of the large cryptocurrencies.
Think I am going to go and lie down in a dark room I have a headache!!Quote:
Originally Posted by Freitag 4.17
Try sucking a £6 carrotQuote:
Originally Posted by Elwood Blues
Fekin’ ‘ell braaah. Youz a rocket surgen or wha’ !?Quote:
Originally Posted by Freitag 4.17
A post that mentions carrot seeds, magic water, dog shit and cryptocurrency has set the bar very high, it has to be said.
Models. Sounds good to me. As long as they're not male models.
Given the detail stated above it seems it is not a "funding" model at all as claimed in the article. To cut it to the fundamentals they will sell you a Cardiff City credit redeemable against services from the club in the form of a crypto-currency coin that can also be traded. So it is just an income stream for services/merchandise at the end of the day as far as the club is concerned but a crypto-currency speculator may hope that the "coin" value increases and can be traded for profit for them.
https://www.walesonline.co.uk/sport/...funds-15173542
Cardiff City have released a statement denying reports they are considering launching their own cryptocurrency.
National media reported that Cardiff and Newcastle United were among the Premier League clubs talking to SportyCo, a micro-financing and crowdfunding company.
The scheme, an alternative digital currency similar to BitCoin, would enable fans to buy 'tokens' in exchange for merchandise and possibly season tickets, which could generate extra revenue for the club and potentially used in the January transfer market.
Cryptocurrency has been one of the fastest growing financial assets globally in recent years, with some companies experiencing huge asset growing rates. It has been reported the clubs were hoping to raise £15million with the sale of tokens.
But a Bluebirds statement has issued a firm response rubbishing reports that it has been in conversation with SportyCo.
A statement said: "At no point has Cardiff City FC, its board or executive management, engaged with the micro-financing and crowdfunding company, SportyCo.
"As such, suggestions implying that the Club is intending on working with SportyCo to hold an initial coin offering (ICO) at this time are grossly inaccurate."
It is not known whether Newcastle or other clubs in the English top flight will follow the lead of Brazilian Serie B team Avai — or Paris Saint-Germain, who are also thought to be plotting such a scheme — in the near future.