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Can anyone tell me how they arrived at the $186m figure? Are they just multiplying the last traded price by total supply, and forgetting about market depth/slip
by runeks 9y ago
Can anyone tell me how they arrived at the $186m figure? Are they just multiplying the last traded price by total supply, and forgetting about market depth/slippage?
I mean, if I sell a plastic cup to someone for 10 cents, and then go produce 100 million of these plastic cups, do I have $10m in plastic cups? Or could it be that I’m unable to find 100 million buyers each willing to pay 10 cents for a cup, even though that’s the last traded price?
As far as I’m concerned, the amount of USD they’ve raised equals what they could earn by executing a limit sell order with a price of zero into the Filecoin/USD market (thus eating up all bids).
- DanBlake 9y agoThey literally sold 186m worth. As in, Filecoin literally has 186 million in the bank. Its insanity
- Taek 9y agoThey also have no obligation to deliver a product. If they fail to deliver a product after 5 years, they must return all of the money to the original investors. They could theoretically just earn interest on $186 million for 5 years and then return the money and say "oops, we missed our target". The terms of the SAFT allow it.
- runeks 9y agoWow... I just had to get it confirmed, and I still can’t believe it. Did they raise this without giving up any equity?
- uncoder0 9y agoYes
- QML 9y agoIs that 186 million in ETH or fiat?
- tylersmith 9y agoA combination of Bitcoin, Ether, and fiat. But they could easily liquidate tokens or buy more to change their holdings structure.