New Funding For Elio!

[BADBOY]

I'm confused as I read the $2.5 million would go towards debt of Elio Motors? Anyway none of my friends are laughing at me anymore. They've decided to forget it.

 

[booboo]

" It is also rumored that Overstock and some of their partners will invest additional funds in Elio to help get the production wheeling rolling for the company."
http://highway989.com/elio-motors-gets-major-funding-from-online-retailer/

 

[Samalross]

" It is also rumored that Overstock and some of their partners will invest additional funds in Elio to help get the production wheeling rolling for the company."
http://highway989.com/elio-motors-gets-major-funding-from-online-retailer/

That article showed that the writer had little knowledge of Elio Motors. I would not consider the rumour credible.

 

[Watashiwah]

By any measure, this Elio saga has been entertaining and it’s actuality kind of fun once you write off your losses, both monetarily and emotionally.

Like many other ‘rumors’ that should, coincidentally (?), benefit Elio Motors (the 65 thousand ATVM threshold, comes to mind) this new rumor again reinforces that old expression that ‘talk is cheap’.

Let’s take the opposite of “It is also rumored that Overstock and some of their partners will invest additional funds in Elio to help get the production wheeling rolling for the company.”

Would anyone involved ever say ‘After this investment, there is no way we’re going to put even more money in’?

There is just something that we haven’t connected yet: 2.5 million might seem a lot to the majority of us, but let’s face it, without more than verifiable rumor backed with some hard facts and progress, so far Hari, Paul, and now Patrick Byrne are ‘all hat and no cattle’.

No amount of rumor or talk will undo the fact that future investors won’t overlook the poor prior decisions and always will wonder just where did all the early money go? And just what ‘certain’ debt is new money supposed to pay off?

 

[Marshall]

That's pretty much what I got out of that, too.

However, Cars by Overstock does not actually stock and sell cars. They are a sort of search engine that aggregates listings from participating dealerships. They match you with cars being sold by other people, and with financing through other companies. With this model, I don't see how Cars by Overstock can sell Elios. Cars by Overstock has no real world infrastructure to stock, sell, and deliver cars. They are a virtual e-business. They could potentially leverage some of the infrastructure used for the existing overstock retail site. But that could make them a dealer, and subject to state dealership and franchising laws.


You're assuming that the ElioCoin will actually be worth something. That's a huge assumption.

All crypto currency is funny money primarily useful to those who have real money they need laundering or tax avoidance. I do not see Eliocoin as any more or less valuable than bitcoin. In my mind, both are worth nothing after the demand of greedy gamblers has worn off.

Ponzi schemes always look like gold, at first.

 

[booboo]

I just can't wrap my head around the idea of a want to be automotive manufacturer issuing a cryptocurrency. Even if they are calling it a “security token offering” instead. It makes about as much sense to me as if they had announced that they were going franchise a chain of bars serving water distilled from a comet's tail.

I hope they make it. And up until I read about the Eliocoin, I even thought there was still some chance.

Many Crypto Heads believe Security Tokens are the next big thing, and this is the year.
I do agree with you that it is bewildering to most of us.
Luckily, Elio found Patrick Byrne, or visa-vera, and he knows the digital crypto space very well.

 

[booboo]

In case no one else has linked this today...
https://www.digitaltrends.com/cars/elio-motors-receives-overstock-investment-plans-cryptocurrency/

 

[RSchneider]

It might not just be the next big thing but the next megatrend. These articles explain a bit about security tokens.

http://thehill.com/opinion/technology/377592-security-tokens-could-be-the-next-big-thing-in-cryptoassets

https://blog.icoalert.com/why-secur...be-the-next-big-crypto-megatrend-3072d544a796

 

[Elio Amazed]

Many Crypto Heads believe Security Tokens are the next big thing, and this is the year.
I do agree with you that it is bewildering to most of us.
Luckily, Elio found Patrick Byrne, or visa-vera, and he knows the digital crypto space very well.

Sorry Boo. This is having the opposite effect on me. The more I learn about this, the more I wouldn't go anywhere near it if I was an accredited investor. In the first video... Interviewer: "So in terms of where you guys are now and what you're projecting out for the next six months, a year or so, what's the most exciting thing you guys are looking at right now?" Byrne: "We have some... Uh... Uh... fun announcements coming up..." That sounds way too ominously familiar for me. The guys in the second video contradict themselves numerous times. It's not an MLM, but it feels like it has all the 'latest and greatest' hype typically associated with one.

 

[ThreeWheelBurnin]

I just can't wrap my head around the idea of a want to be automotive manufacturer issuing a cryptocurrency. Even if they are calling it a “security token offering” instead. It makes about as much sense to me as if they had announced that they were going franchise a chain of bars serving water distilled from a comet's tail.

I hope they make it. And up until I read about the Eliocoin, I even thought there was still some chance.

So you have this super-efficient, high MPG vehicle that is financed with energy-sucking crypto currencies. Makes sense...