Dovey Wan 🗝 🦖 on Twitter: "Rchain, burned all its ICO funding in > …

archived 20 Jul 2019 12:48:48 UTC
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DoveyWan's profile


Dovey Wan  🗝  🦖


🇨🇳🇺🇸🇸🇬 Founding Partner @ Primitive with @wheatpond. ED @ . 💩coin minimalist, 🌏 citizen, amateur 🦈 chaser. ₿uy and $ell
Joined October 2011

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    Dovey Wan  🗝  🦖 @DoveyWan · Mar 6
    Rchain, burned all its ICO funding in > 2 years due to a outrageous purchase of a $23m music encoder (WTF??) now is considering a new entity RSong to be “a continuation of RChain”?? Another fork of Rchain, Casper Lab, said has raised $20m 🤷🏻‍♀️🤷🏻‍♀️ This only happens in crypto
    32 replies 68 retweets 301 likes
      1. New conversation
      2. Dovey Wan  🗝  🦖 @DoveyWan · Mar 6
        It raised $15m in ETH back in 2017 April, if managed treasury well, at ETH $1000 that equates to $300M bankroll. And they burned it all... I’m shocked that no one file class action against it especially after the totally unreasonable purchase of that $23m music decoder 🤯🤯🤯
        7 replies 5 retweets 64 likes
        Show this thread
      3. Dovey Wan  🗝  🦖 @DoveyWan · Mar 6
        They burned everything in less than 2 years* not >2 years Unbelievable. Anyone can let me know how to burn a $30-$300m bankroll in less 2 years???? Like buying 1000 lambos? That sounds lots of work too 🤨🤨🤨
        11 replies 1 retweet 47 likes
        Show this thread
      4. Dovey Wan  🗝  🦖 @DoveyWan · Mar 6
        Also the Rchain drama actually started 3 years ago when Greg left his former blockchain project Synereo Anyone interested in further investigation of the entire Rchain history can take a look 👀 it’s a very deep rabbit hole I promise 
        7 replies 5 retweets 59 likes
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      5. Dovey Wan  🗝  🦖 @DoveyWan · Mar 6
        Some simple questions when auditing Rchain’s financials - 1. How much they spend on things that can be directly effective to deliver what they claim in the white paper? Aka, engineering. The audio codec and investing in other ICOs is clearly out of charter
        3 replies 0 retweets 9 likes
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      6. Dovey Wan  🗝  🦖 @DoveyWan · Mar 6
        2. What’s the FAIR MARKET VALUE of that audio codec? Did they overpay? Is there anything fraudulent or potential connected transaction/conflict of interest involved? Immersion Network is also a private company, so it’s easy to figure out that company’s asset value.
        1 reply 0 retweets 8 likes
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      7. Dovey Wan  🗝  🦖 @DoveyWan · Mar 6
        3. if they pay $23m in the audio codec, if the codec value sustained, assuming they don’t overpay, they should have some decent residual value. Why not re-sell that codec to someone else even with 1/5 of the price. $5M cash is at least a 2 year run way for a 10 people
        4 replies 1 retweet 10 likes
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      8. End of conversation
      1. New conversation
      2. zooko @zooko · Mar 6
        Replying to @DoveyWan
        What's the relation between Rchain and Casper Lab?
        4 replies 0 retweets 7 likes
      3. Dovey Wan  🗝  🦖 @DoveyWan · Mar 6
        Replying to @zooko
        Vlad @VladZamfir is the best person to answer it. My understanding is - Vlad and Greg worked together back in Synereo and both left to start Rchain, Vlad is board member + lead researcher of Rchain and now he split with Greg. There must be IP issue to deal with in this case
        2 replies 0 retweets 9 likes
      4. Dovey Wan  🗝  🦖 @DoveyWan · Mar 6
        Greg said publicly Casper Lab used Rchain code. “When questioned specifically on whether Casper Labs was a fork of RChain, Scott Walker (the Casper Lab President) said, “There’s several meanings and several nuances to the word fork” 👀👀👀
        0 replies 0 retweets 7 likes
      5. End of conversation
      1. New conversation
      2. Digital Asset Guy @DigitalAssetGuy · Mar 6
        Replying to @DoveyWan
        @crypto_bobby still holding the ole #Rchain bag?
        1 reply 0 retweets 4 likes
      3. Rob "Crypto Bobby" Paone @crypto_bobby · Mar 6
        Down a cool 99.9999999%, THANKS @Obstropolos 🤣
        3 replies 1 retweet 14 likes
      4. Rocco @Obstropolos · Mar 6
        Best capital losses of 2018 amiright?
        1 reply 0 retweets 3 likes
      5. Rob "Crypto Bobby" Paone @crypto_bobby · Mar 6
        They aren't capital losses if you don't
        2 replies 0 retweets 26 likes
      6. Dovey Wan  🗝  🦖 @DoveyWan · Mar 6
        0 replies 0 retweets 12 likes
      7. End of conversation
      1. Dave Hendricks @davehendricks · Mar 6
        Replying to @DoveyWan
        When you give non-dilutive Capital to entrepreneurs whom you’ve never met to develop a product they haven’t built and you’ve never seen for an audience they don’t have, well they do stuff like this!
        0 replies 2 retweets 35 likes
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      1. David Johnson @DeFiDaJo · Mar 6
        Casper labs is to Rchain as Polkadot is to Ethereum
        0 replies 0 retweets 7 likes
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      1. Sol @Sol68635937 · Mar 6
        Replying to @DoveyWan
        Rchain's difficulties are a result of financial mismanagement from the founders. But do you have any problem with Casper Labs? There are consider 2 different projects with members who are not responsible for Rchain's predicament.
        0 replies 0 retweets 8 likes
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      1. New conversation
      2. AKJ @i_m_akj · Mar 6
        Replying to @DoveyWan
        Have u seen where the @gonetwork_co is hiding and how they scammed all of their investors? They were one of the winners of the prestigious ETHWATERLOO for god sake. Raised money ans exit scammed. No one is talking about them for some reason.
        1 reply 1 retweet 2 likes
      3. Doctor O. @Doctorcryptos · Mar 7
        The name literally has gone in it and yet ppl bought the ico. It like an ico named bescammednetwork
        0 replies 0 retweets 1 like
      4. End of conversation
      1. New conversation
      2. Hudson Jameson @hudsonjameson · Mar 6
        Replying to @DoveyWan
        How is Casper Lab a fork of RChain?
        2 replies 0 retweets 4 likes
      3. 1 more reply

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