I know I might be in the minority here in my belief that territories have a great future on SN. I also know I'm not the only one. The nonsensical Samourai indictments have slowed territory development as SN has had to focus on wallet issues, but that won't last forever.
The macro craziness might provide us with rare opportunities, since bitcoin still trades as a risk asset in normie world. I'm hoping this may give me the ability to pay off my territories at a discount.
Is anyone else thinking about this? Either current owners or those considering taking the plunge?
I am not interested in buying outright quite yet. I need to see where things go with the wallet stuff and how that impacts zapping and activity on the site and then what the plan for territories and marketing SN is going forward.
If prices got juicy enough I may buy 3M extra sats and set them aside until I decide whether to take the plunge on outright territory ownership and if I decide against I have an extra 3M sats. Can’t go wrong.
Would you be interested in buying outright with some sort of co-ownership arrangement? Assume that you retain decision making status.
That could be interesting.
Your concerns mirror mine almost exactly. I'm also wondering how the new wallet stuff affects zapping, and territory development plans. That's the main reason I still rent, which I forgot to mention to @Coinsreporter. Still, a juicy dump will cause me to take a chance.
I'm thinking of it but just given up on not having one idea for a territory that would stand very different from the territories we already have. Also, I'm a bit cautious because once I start a territory, I don't wanna leave that midway for any reason. Also, I would love to buy it for a life time.
Yes, that's what I meant by the post. Paying it off for a lifetime. I think most of us pay monthly rent now.
Do you have for lifetime? Either of yours?
I'm paying rent
Why? I'm just curious to know the reason.
3 million sats is a lot!
They would be recovered just in 30 months! No issues, that's a valid reason. Is there any mechanism of transferring rights of territory in case of owner's death? A nominee or something like that?
CC: @k00b
Purchasing a territory gives you immortal life.
30 months for life instead 36 installments is a good 20% deal!
yes, you need to wait for the owner to abandon it, after 5 days will be available. But stay tuned! Maybe co-ownership is coming soon...
I've been thinking about it for a couple of months. I might end up buying ~econ, so I've been getting my finances positioned to make that easier and these low fees made that much less costly.
You are going to buy a territory? Does the math actually work out where you at least able to break even?
Renting doesn't break even, but I'm not interested in renting. An outright purchase is a long-run investment that will yield an ongoing stream of income. At least that's how I'm thinking about it.
I guess.... You need to bring quite a bit of traffic your way, though.
~econ has a lot of traffic already and that's without any particular efforts at attracting creators.
Econ does have a lot of traffic, but you know...someone could create an econ 2 with a cheaper fee. Everyone would just post there instead.
I doubt it. Reputation matters and as long as I keep the fee reasonable people will prefer the original ~econ. Plus, it would cost 3 million sats to do that.
Reputation is important. When will @koob publish reliability scores? lol
Yeah I been thinking about buying my current territory and then take over another I have an interest in. Like you said 3 million sats is not cheap but if bitcoin drops 50 to 80% then you bet your ass I’m going to be gobbling up territories I like most!
I'm with you. That would only be part of the fun with an 80% crash!
Yeah I often think all the goods and services I bought with bitcoin if the price goes to zero does it make it free? 😂
I think some territories are great. Some are unneeded, though.
Even the ones that seem unnecessary can always change their name and focus. Nothing stops an owner from changing the name of a territory and its direction at any time.
That is true. I feel many of the territories cover the same topics, or can just be expanded. Maybe it might be better to form a group and merge them? That way cost could go down for both?
I've been wondering about whether we'll see territory mergers. I think they discussed that possibility at some point.
Mergers or Co-owners. Will be an interesting future.
I really hope they do co-ownership soon. That's what we would prefer to do with ~econ.
you and who? Can I get in on the action? lol
Me and the current owner, who doesn't have as much time to manage the territory as he would like. I don't know how he feels, but I'm all for having multiple owners and doing an equity sharing arrangement.
I don't think are uneeded, there's not yet the right crowd for it!
We are on the final stretch of this. The last really difficult part of this is already done and is in the review, testing, and refinement stage. After that it's a bit of UX stuff and we should be able to get back to cooking again.
I’m not an owner, nor am I considering becoming one, but I do feel like a permanent purchase will eventually become profitable over time. I also believe that the content-based feature set will grow and flourish and territory owners will benefit from that.
I appreciate the idea of buying satoshis at a lower price :). Many people don't acknowledge this behavior. In fact, many professional analysts argue that price corrections are healthy for the market.
Regarding the territories, I think I discussed it with @Undisciplined, it should be possible to donate directly to the territory. The owner would only need to pay the remaining balance. Basically, the territory would have a wallet, and donations would go directly there.
What I read from the comments that 3 million sats are required to buy a territory? How much time do uou think a territory will give back the sats if worked upon diligently?
According to my calculations, approximately 37.5 years at the rate I'm going!
What! So, you're earning a close to 10000 Satoshis a month? This is ridiculous. And how long, you've been doing it?
I'm exaggerating, but not by much. I have been doing it since December. I think a few territories are actually profitable. It depends
Thanks! I will have a look at them and plan for something exceptional for exceptional people here.
Pets!
Theschoolofbitcoin.com owns /~Education
We are using the territory to support learner projects 🙂
Territories rule!
I have seen what you are doing. Good work!
I would buy one at any cost. I'm waiting for some figures to chip in my bank accounts when my hydro-farming project becomes profitable.
We need to hear more about your project.
Don't you guys do it much better than Indians are trying? I'm talking about hydroponics, a technique of growing crops in pipes which have running water in them.
https://m.stacker.news/43400
I don't know. I plant my vegetables the old fashioned way-dirt
Ok. I'll do a post about it in the next week.
Good. Looking forward to it
So, you're in the market for a whole chunk of land? Did you do the math to see if it's a good deal?
No need to. It makes no economic sense right now. It's pure speculation. A flyer. It's not only an economic decision anyway. I really value SN and want to put sats towards it to pitch in. I get a lot of enjoyment here.
why do you say it's not necessary? This also includes money collected and can be paid through Sats as well.
Because I know it's not a good investment. It's not necessary for me. It might be for you.
When the season arrives, sats become my need, but if the season does not arrive, sats also become my need, I want to buy a plot of land using sats, the aim is to grow vegetables for daily needs, this is my opinion, what do you think?
Personally, I think that's a great goal. The best.
Fire Sale for real!! I saw it at $54k. How low could it go!?
Who knows? I wouldn't be shocked if it's in the 40s by tomorrow morning.
Why do you think it would be in the 40s?
My 28 dollars have already come down to below 20!
If prices stay at 100K sats per month/ at the fiat dollar price of bitcoin drops it will be a little easier for me to start a territory which I would love to do!
Lifetime membership is at least a 5 year commitment
now bitcoin has become a source of necessity, some consider it an investment for the future, but for me bitcoin has become an asset when the season comes.
This is true that SN has had focus on. Wallet issue but last forever. You will be soon able to clam your territioes
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That's what I'm talking about. The world is a mess right now. Echoes of 08. Remember the covid crash? 3k
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Exactly
yep, rightly said