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Someone is going to have to explain to me how anyone who is serious about a career (not a job, but a career that you can support yourself and a family modestly) in journalism is going to consider working for this company.  I guess maybe if they are young and just starting out and living with their parents?

Edited by jchapman

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1 minute ago, jchapman said:

Someone is going to have to explain to me how anyone who is serious about a career (not a job, but a career that you can support yourself and a family modestly) in journalism is going to consider working for this company.  I guess maybe if they are young and just starting out and living with their parents?

Lol I see what you did there. Your description matches Nomad to a tee.

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16 minutes ago, jchapman said:

Someone is going to have to explain to me how anyone who is serious about a career (not a job, but a career that you can support yourself and a family modestly) in journalism is going to consider working for this company.  I guess maybe if they are young and just starting out and living with their parents?

Not that this answers your question, but I don't think the people with content on there "work for the company."    Kinda almost reminds me of those pyramid schemes where no one is an employee, they are "independent consultants/contractors."   Although I assume Rokfin does have some actual employees that hopefully get paid in real money (maybe this includes Willie, who knows).

 

2 hours ago, pamela said:

Getting back to the topic though, what’s the relation between RAE tokens and Mat Scouts? 

My understanding is MatScouts may be Willie's "company."  And he will be posting (all of his?) content to Rokfin, where it appears the "creators" get paid in RAE tokens.

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1 hour ago, Billyhoyle said:

Did you really just compare equity, which provides ownership in a company, to a made up token that provides nothing and nobody has a reason to buy? 

The token facilitates the exchange of goods and services the same as any currency like the stuff printed by the US government that it uses as compensation for its employees and by many other governments in the world.  Clearly a cryptocurrency is more analogous to a regular state issued currency than equity in a company in its design and use, but since it is not a well established currency it is similar to equity in a not established company in that there is a significant probability that they both end up worthless.

1 hour ago, Billyhoyle said:

If they are analogous, why doesn’t Rokfin just pay the content creators in equity? That would be a fair arrangement. 

If it is fair to give content creators equity how come no video subscription services do that? I would guess most stream subscription services think that would be more than fair or just unworkable.  Rokfin probably thinks of themselves as both a cryptocurrency company as much as a streaming subscription company.  Would it be ridiculous for a crytocurrency company to pay its employees in the cryptocurrency they designed?  I think if that company didn't use their currency and their own employees refused to accept it there wouldn't be much hope for that currency being accepted by the wider public.  And how much would equity in a cryptocurrency company be worth anyway if the company and the employees don't even want/trust their currency?  The fortunes of Rokfin the company are probably closely correlated with the fortunes of their cryptocurrency product.

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4 minutes ago, ptz305 said:

At what point does an RAE token become cash? I don't care what the hypothetical value of it is, let's say someone joins their site and is a star. How do they cash out and cop a Lambo next week? 

There are numerous cryptocurrency exchange sites where you exchange it for other cryptos or good ole cold hard American cash.

The creators at Rokfin are in an interesting dilemma, the more the site grows with more subscribers and more content the more money they will make. However, the creators will get dinged when people are viewing other's content along with their own. You want to bank on people viewing your content, but kinda..not really viewing the other content.

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9 minutes ago, ptz305 said:

At what point does an RAE token become cash? I don't care what the hypothetical value of it is, let's say someone joins their site and is a star. How do they cash out and cop a Lambo next week? 

https://medium.com/@RAEToken/an-easy-guide-to-buying-rae-tokens-dd3b6bbfc89a

It looks like you're supposed to buy & sell them with a different cryptocurrency called "Ether". 

According to this site - https://mercatox.com/exchange/RAE/BTC ,  maybe you can use bitcoin too.   It looks like the highest actual bid for an RAE token is 0.00000125  bitcoin.   So if 1 bitcoin is worth $9,213 according to google, someone may have bought some RAE tokens for 11.5 cents each.

 

 

Edited by 1032004

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15 minutes ago, Fishbane said:

The token facilitates the exchange of goods and services the same as any currency like the stuff printed by the US government that it uses as compensation for its employees and by many other governments in the world.  Clearly a cryptocurrency is more analogous to a regular state issued currency than equity in a company in its design and use, but since it is not a well established currency it is similar to equity in a not established company in that there is a significant probability that they both end up worthless.

If it is fair to give content creators equity how come no video subscription services do that? I would guess most stream subscription services think that would be more than fair or just unworkable.  Rokfin probably thinks of themselves as both a cryptocurrency company as much as a streaming subscription company.  Would it be ridiculous for a crytocurrency company to pay its employees in the cryptocurrency they designed?  I think if that company didn't use their currency and their own employees refused to accept it there wouldn't be much hope for that currency being accepted by the wider public.  And how much would equity in a cryptocurrency company be worth anyway if the company and the employees don't even want/trust their currency?  The fortunes of Rokfin the company are probably closely correlated with the fortunes of their cryptocurrency product.

This is where I remain confused.  Am I missing something or is Martin Floreani essentially using a wrestling website to try to launch a cryptocurrency?   Seems a bit optimistic, no?

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5 minutes ago, 1032004 said:

This is where I remain confused.  Am I missing something or is Martin Floreani essentially using a wrestling website to try to launch a cryptocurrency?   Seems a bit optimistic, no?

It does seem that way and I agree it is an odd combination.  He wouldn't be the first wrestling guy to get into cryptocurreny.  Isn't Novogratz heavily invested in cryptocurrency too?

Edited by Fishbane

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3 minutes ago, russelscout said:

A little different between a guy who started a wrestling website and an investment banker who used to wrestle once.

I mean, Novogratz involvement in the sport has been just a liiiiiitle bit more than "used to wrestle once"...don't you think?

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20 minutes ago, Fishbane said:

It does seem that way and I agree it is an odd combination.  He wouldn't be the first wrestling guy to get into cryptocurreny.  Isn't Novogratz heavily invested in cryptocurrency too?

Well I think "being heavily invested" is a bit different than creating one, right?

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1 hour ago, Lurker said:

I mean, Novogratz involvement in the sport has been just a liiiiiitle bit more than "used to wrestle once"...don't you think?

 My point is about their relationship to crypto, not their relationship to wrestling. Novogratz has a ton of relevent experience in finance where as Martin started a company and got cut out as soon as the large numbers were involved.

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2 hours ago, 1032004 said:

https://medium.com/@RAEToken/an-easy-guide-to-buying-rae-tokens-dd3b6bbfc89a

It looks like you're supposed to buy & sell them with a different cryptocurrency called "Ether". 

According to this site - https://mercatox.com/exchange/RAE/BTC ,  maybe you can use bitcoin too.   It looks like the highest actual bid for an RAE token is 0.00000125  bitcoin.   So if 1 bitcoin is worth $9,213 according to google, someone may have bought some RAE tokens for 11.5 cents each.

 

 

I get it. A few friends conned me into buying Ether and BTC last year. But is RAE actually bought and sold at places like Coinbase? 

I hope that anyone involved with this project has an additional source of income. 

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59 minutes ago, ptz305 said:

I get it. A few friends conned me into buying Ether and BTC last year. But is RAE actually bought and sold at places like Coinbase? 

I hope that anyone involved with this project has an additional source of income. 

 

Just went to Coinbase (for the first time).  It says there are 17 cryptocurrencies available on there.

It also has a list of cryptocurrencies that are NOT available on there, but doesn't even list RAE, although it does list 1,300+ other ones (I stopped scrolling at 1,300).   So, I think it's likely safe to say that RAE has a ways to go before it is relevant.

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The problem with all the streaming services is that there is too much competition for customer time and dollars.   I know $10 per month is not a lot, but I'm already subscribed to too many monthly services just for non-wrestling interests.   

The yearly FLO bill is a lot considered I only want to focus on wrestling for  4 months.   It's worth it, but barely.
A Big Ten subscription would be nice for a couple months, their archiving is way better than FLO and they are improving their app.
Rudis is free on  youtube.   I don't have time to watch them all.
I'm paying for ESPN+ during wrestling season, they have some good matches.
There are excellent, free podcasts.  Hello Inside Trip.   They compete for my time.
I'd like to support Track, but expensive.
I don't have time to enjoy a Willie World subscription, even if he does a great job.  

Selling monthly subscriptions is a tough business.   It's too bad that FLO couldn't accommodate Willie's interests, it would have been better
for everybody.

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After listening to his first show, I’m curious whether he will have more or less access to coaches and athletes with his openness to rumors and innuendos. Not sure I’d like him telling his listeners about a text he received from me if I’m a high level coach either. 

Edited by AnklePicker

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On 11/7/2019 at 11:46 AM, 1032004 said:

This is where I remain confused.  Am I missing something or is Martin Floreani essentially using a wrestling website to try to launch a cryptocurrency?   Seems a bit optimistic, no?

You'd be shocked by the premise behind some of these crypto currencies.  At least Martin's comes along with some sort of platform.

DogeCoin, PizzaCoin, PotCoin, HibbertCoin, Unobtanium... on and on and on

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9 minutes ago, steamboat_charlie v2 said:

You'd be shocked by the premise behind some of these crypto currencies.  At least Martin's comes along with some sort of platform.

DogeCoin, PizzaCoin, PotCoin, HibbertCoin, Unobtanium... on and on and on

and it looks like all but Unobtanium have a value less than $0.01

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33 minutes ago, 1032004 said:

and it looks like all but Unobtanium have a value less than $0.01

Is that inherently a negative thing?  If the value is stable and the currency is widely accepted does it make a difference that it's worth less than $0.01/unit?  Although if the value is stable in the long term then it eliminates the upside Rokfin was trying to give to creators.  I'd probably just prefer USD if there was no potential upside. 

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