Thursday, May 15, 2014

galtlog | 05152014 12:00 hours | tyler durden reporting

day one recap
day one of galt was a huge success for the most part tons of members got in, created causes and became owners in causes.

some of the best members to date have made great contributions by using the support link and creating a ticket. when members do it this way it helps get thing fixed quicker, keep track of open issues and benefits the whole community by building our knowledge base. thanks gang

the day wasn't without its bugs.

the biggest one is that if you were in at a certain time (ex. 20:00 hours) yesterday with 10,000 coins. spent 100 coins. logged out. then back in. you get the "user is ineligible to login at this time" message. we have decided not to fix this. we could, but the fix wouldn't happen before friday and by then it won't matter anyway. so if you are in and spend your coins, don't log out or close your browser tab, or just click around and get familiar with things. if you are champing at the bit to get your cause created, do so but know you won't be in until the level opens up with the coins you have remaining.

top 2 questions from support:

q1) i invited someone but the email didn't send
a1) no email goes out when you add an invite, the email address is just entered into the system for them to accept. you need to tell the person to go to http://www.galt.io/invite to accept and create a password, then go through the new member initiation. "tell the person" means send them an email, text message, singing telegram, call them on the phone or whatever gets them to that url. if you have already created invites, you can see them in your galtcoin transactions by clicking on the galtcoins icon/number in the upper right of the toolbar.

there are a couple of benefits to doing it this way: 1) the invite comes from you, not a random galt address and get lost in a spam folder, 2) you can enter all your invites in galt in one step (say you enter 10), then send one email to all 10 people with the link to http://www.galt.io/invite and they all will be able to get in.

q2) public vs. private causes
a2) if you create a cause, it is private. this means that it will not show up in the market until the 1,600 private shares have been sold. we did this for 3 main reasons: 1) causes that suck are less likely to clutter up the market, 2) founders need to prove their commitment before a cause goes public by rallying people to buy the private causes, and 3) strategic players will want to invite "their army" to get a lower price and be more active in the cause before the market does what it will do. public causes are in the market with 6,000 shares @100/share. anyone can see them and buy as many shares as are available. once all the shares are gone, any owner/shareholder can sell as many shares as they want at whatever price they want. the lowest priced shares will show as the price. once they are gone, the next lowest bid will

strategy tip: there are two ways to IPO a cause: 1) get people to buy the private shares by sharing the url of your cause (example- http://galt.io/market/#pot - where "pot" is the cause symbol) and 2) buy your own private shares.

missions are not working!
we will fix this so that as long as you've completed the task of the missions, you will get the bonus. so if you've invited someone and they have accepted, you'll get the 50 coins + the mission bonus...even if you haven't accepted the mission. or, if you have bought a share in any cause, you will get the bonus as well. thanks for brining it to our attention, it will be fixed soon.

over and out

tyler durden reporting

15 comments:

  1. "Honest Money" Our Cause is just http://www.galt.io/market/#MONEY

    ReplyDelete
  2. Thanks John, you have always been a great help in this endeavor
    You know many of these Causes are priced at 100 galt coins per share, while our Cause Honest Money is selling in the Private Placement phase for only 10 galt coins per share.
    Hows that for Honest Money? http://www.galt.io/market/#MONEY

    ReplyDelete
    Replies
    1. You're playing the game, Scarecrow! Keep up the good work!

      Delete
  3. I must be really missing something here. How exactly are we supposed to be making those connections? There doesn't seem to be any way to comment, message, or otherwise communicate.

    BTW, bought some shares of your cause there, Scarecrow.

    ReplyDelete
    Replies
    1. I think you just did Jason....

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    2. Well, I meant within the "like-minded" community. But OK.

      Delete
  4. Jason, thanks for getting on board the cause for Honest Money. The scarecrow usually does not play any games though has been known well for quite a bit of tomfoolery. Caw!Caw!
    I just sent private invitations to a few folks that I know who just plain missed the boat on this political issues cause organizing opportunity, I am hopeful that some may take another look and request from me another chance to be invited into the inner sanctum of Galt.io. Our cause: http://www.galt.io/market/#MONEY now has 5 shareholders, we have made some progress today. Don't forget to claim your daily dividends, they pile up fast. Look for causes to invest your coins in that you share the same thinking and that are moving up in the charts. Jason did say that we can sell shares in future that have appreciated in value for GC return on investment, though I am still working with John Galt on this one to fully understand how this process works.

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  5. I began using the City and State space available on my Alias page to add info on my cause " Honest Money" pretty cool! just hit asterix in upper corner and add whatever you want to say about your cause. Jason heard you on the radio tonight, yea we are needing to really dial in and ramp this thing up. I went thru the list of members and see their are tons of folks who are sitting on many thousands of GS, yet to invest in causes. Hey what are ya waiting for? play the game sam, no time like the present. "Honest Money" @ shares @ scarecrow are selling for on 10 GS per share, now thats Honest Money aka GC

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  6. "Honest Money" MONEY as of 1/17/14 6:00 PM only 866 shares remain to be sold @ 10 GC per share. Looking for a Private Cause going Public in just a short while? Find scarecrow and our cause "Honest Money"

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  7. Hi Scarecrow, I bought some shares from your Honest Money Cause. Other than this blog and telling those I send invites to, I do not really know of a good way to get the word out for members to know about my Cause. If anyone would like to buy private shares in my Cause before having to pay public share prices, search for BuildersOfAtlantis and buy some shares. With enough support, we can have a science-fair type Galt Maker Exposition!

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    Replies
    1. I bought some shares there Field Fox. Looks exciting.

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    2. Thanks Jason! Glad to have your support. I think it would be interesting to see.

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  8. Field Fox, count me in, we have less than 100 private shares to place in order to go public, nice to have you on board for the cause of Honest MONEY. scarecrow

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    Replies
    1. I think I just bought the last couple shares to send your Cause public. Congratulations Scarecrow!

      Delete
  9. Since we've been chatting, I thought I'd share here that I have my own cause up. It might be something right up your alley Field Fox. https://www.galt.io/market/#PLN

    ReplyDelete