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More Comments From Patrick Byrne Regarding Sto’s...(eliocoin)...

Discussion in 'General Elio Discussion' started by ElioWallSteet, May 12, 2018.

  1. ElioWallSteet

    ElioWallSteet Elio Aficionado

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    So many false perceptions on what a ElioCoin STO will be...

    Here’s some more clarification from Patrick Byrne himself...

    I quote Byrne from a April 27th interview...

    “The industry is distinguishing very clearly now between ICOs and STOS,” Byrne said.

    “An STO allows consumers to purchase digital coins or tokens as part of a public offering, just as they would in an ICO. However, unlike many ICOs, these tokens will be backed by a tangible element, such as assets, profits, or revenue in a company, according to Byrne. It’s like holding shares in a company.”

    So...an STO is not magic money... basically it’s another form of common stock...backed by the tangible asset’s of a company...really not much different from the current Elio Motors Reg A+ offering...

    Those that think STO’s produce venture capital from thin air...do not understand the process...

    All STO’s are now coming under newly formulated SEC regulation’s...

    This proposed ElioCoin STO offering is really not very different from the last failed NASDAQ offering...

    Ladies and gentlemen do your homework!
     
    Last edited: May 12, 2018
    Donnyboy and Sega like this.
  2. 84mpg

    84mpg Elio Addict

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    Hey ElioWallStreet…

    Don't mean to derail your thread too much, but what do you think about the Elio itself?
     
    gottemfeathers and ehwatt like this.
  3. ElioWallSteet

    ElioWallSteet Elio Aficionado

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    I like the Elio Vehicle concept...great alternative to a motorcycle...or Can-Am Spyder!

    But...I have serious reservations that Paul Elio has the leadership abilities to complete the Elio project...after a decade of design & engineering work...it’s hard to comprehend why there’s not a single production ready prototype...

    My best guess...Patrick Byrne will leave Paul Elio standing at alter...

    History has a habit of repeating itself...
     
    Last edited: May 15, 2018
  4. 84mpg

    84mpg Elio Addict

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    Great! We have a mutual love for the Elio. (After 26 posts I was beginning to wonder if we share that same affection!)

    You know, we have many experts on this forum. I've wondered why some of them didn't take on the challenge to bring us an Elio type vehicle. They seem to know so much more than Paul Elio.

    My best bet is that Patrick Byrne will stick with Paul Elio. By doing so, he could very well attract other big bats. That would be nice, wouldn't it?

    It is discouraging there's not a total production ready prototype. But with the E-1 – they are v-e-r-y close.

    In my life I made a lot of dumb decisions. Why, I even repeated a few. But – after a while, I eventually learned from them and not doing so bad later in life. Just as some people see Paul destined for failure, I think the guy just might make it happen. Maybe he's learned some hard lessons.

    Sorry for the derail –

    Now back to the ElioCoin STO….
     
    L0gic, ecdriver711, Ray O and 4 others like this.
  5. raptor213

    raptor213 Elio Addict

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    From watching videos of Patrick Byrne speaking candidly at the closed press event outside of the Overstock HQ, and from listening to his remarks at Overstock's annual shareholder meeting, I have the informed impression that he, Patrick Byrne, does not really care that much about the Elio vehicle, the Elio Motors vision or four tenets or likelihood of achieving corporate success, or even a hoot about Paul Elio the individual.

    Patrick Byrne also heads Medici Ventures, a venture capital investment group specifically eyeing big movers and shakers in the cryptocurrency realm. His only vested interest as it pertains to Elio Motors appears to be the STO involving the floated ElioCoin concept. If the STO falls apart, I imagine he would walk away from the Elio Motors project without batting an eyelash.

    By investing in Elio Motors, he is ensuring a stream of future positive cash flow for himself as he looks to bring his tZero platform to fruition. In much the same way that StartEngine was compensated in commissions and fees for their principal role in bringing Elio Motors' Regulation A+ IPO to reality, Patrick Byrne and his tZero enterprise stand to profiteer off of Paul Elio's desperate bid to raise capital in a new way.

    Just as the Regulation A+ IPO was, in a way, a successful failure, insomuch as it raised less capital than it sought, and StartEngine got paid either way, Patrick Byrne and tZero will capitalize whether or not this effort is meaningfully successful for Elio Motors.
     
    Elio Amazed and ElioWallSteet like this.
  6. 84mpg

    84mpg Elio Addict

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    From several different reports: "Founder and CEO Patrick Byrne said he “was in awe” after just five minutes in the car. “I am confident that this will become my car for at least two-thirds of the days I drive,” he said."
     
  7. ElioWallSteet

    ElioWallSteet Elio Aficionado

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    Byrne has a documented history of making all sorts of outragous statments...

    He’s very prone to changing his tune very quickly...

    He’s a shark... and Paul should be very careful he doesn’t lose a limb when he ventures in Byrne’s corporate pond...
     
  8. mkiker2089

    mkiker2089 Elio Addict

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    I'm usually very optimistic here but Byrne does worry me. He loves cryptocurrencies more than real money. There must be a reason for that. Less likely to get busted for fraud?
     
  9. Elio Amazed

    Elio Amazed Elio Addict

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    That in itself makes a case supporting the need to do the homework. Do some research on this...
    Most of the Wall Street players won't even consider going anywhere near Patrick Byrne.
     
    Last edited: May 12, 2018
  10. Sega

    Sega Elio Aficionado

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    This is EXACTLY how I feel. Like the idea of the car but have 0% confidence in Paul or the company.
     

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