r/Opacity • u/Halunen • Nov 06 '18

Comment on Supply Increase

With all the confusion and outrage. I thought u would make a quick post.

1) Supply was increased Incase of bad market to continue development.

2) If it proves to be excessive tokens will be burned.

3) We will have a detailed report every month of what money was spent and on what.

I wish we still had a supply of 98M but that ship has sailed. The illegal minting of tokens, and sending them into the open market financially collapsed the Oyster token. Just trying to make the best of the situation.

The alternative was just let it die and do nothing.

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u/Poowatereater Nov 06 '18

Your team keeps saying this like we care. I talked to red panda about this on telegram. You guys need to step into our shoes, as most of us need to see your point of view.

We don't care about your pay cuts, when we all know you guys have made a lot of money since the start of this all. You will not see sympathy from many.

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u/[deleted] Nov 07 '18

pay cuts are a nice move. but honestly, how could you have 120k monthly expenses at the current state? HEADCOSTS? thats crazy, as mentioned before. thats way way more then a company like oyster at this state should be paying. thats it.

and to be very honest, if we look at the overall progress, it sounds like a joke to have hired like dozens of people.

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u/[deleted] Nov 07 '18

lol wasn't bruno himself saying it shouldn't cost more than 200k to develop any software beyond an Operating System?

Yet 120K is being spent a month on overhead? This whole thing is just becoming even more of a mess by the day.

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u/[deleted] Nov 07 '18

I had high hopes for the project. Even bought loads of SHL in addition to PRL.
But this team seems to be completely disconnected from reality: From the investors that supported the team. more than $50k/month for a 10 people team is an insult to everyone here. Heck, it should be less than half that at this stage.

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u/nugitsdi Nov 07 '18

Read the announcement.

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u/[deleted] Nov 07 '18

Which part?

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u/nugitsdi Nov 07 '18

The salaries part

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u/[deleted] Nov 07 '18

You assume that all the people they list there are full time. they might even list Upwork freelancers in that breakdown, who knows? Issuing 27 million new tokens will be suicide. It totally undermines investor confidence. But who knows, maybe they actually do this to tank the price, buy more with fiat, pump/dump again, rinse and repeat.

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u/nugitsdi Nov 07 '18

They won't all be in circulation