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Compet "Deed" Revenue starts 25th Feb 2018

Did anyone expect a different outcome? :laugh:
 
You guys are rich now after the compet payments. I’m sorry for who expected thousands of peds. Off topic , how do you expect MA to punish cheaters when MA is the first to scam the players .:lolup::laugh:
 
NPV said:
Did anyone expect a different outcome? :laugh:
Click to expand...

Well, humor side of it: Yes. Just look at the page pages. :)

But at the end, thank you MA for finally releasing the payouts (good or bad).
 
OZtwo said:
But at the end, thank you MA for finally releasing the payouts (good or bad).
Click to expand...


I agree with this. It is important in a RCE that every item is free to be traded at it's true market value (good or bad).

I feel very sorry for people who bought deeds after the beta ended at 80-100 ped, MA knew at this stage that this was not the true value of the deeds yet they chose not to disclose the payout history to potential investors until this stage.
 
I'm not worried about an "exact" 70000 ped total payout to all deeds.

Looks like on-account payment to me, to hit the promised date.


Rick

edit: Thought Ma would pay Tuesday to be honest, didn't even look until someone told me.
 
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matthew said:
I agree with this. It is important in a RCE that every item is free to be traded at it's true market value (good or bad).

I feel very sorry for people who bought deeds after the beta ended at 80-100 ped, MA knew at this stage that this was not the true value of the deeds yet they chose not to disclose the payout history to potential investors until this stage.
Click to expand...

Well, you have to remember that MA was sold on this idea. As they had no idea how to do it, they looked for other companies to create the application and of course when MA asked the needed questions for the support of the game, the developers told MA anything was possible.

MA needs to learn not to outsource. If they can't do it, they need to learn how or don't do it at all because at the end anyone will tell anyone that anything can be done to make a sale.

So yes, I feel for MA. (I know I know I know..)
 
I'll happily eat my own words even though I said several times that nobody could predict the payment at all. Investing in them was a matter of faith.

Better luck next time I guess :)

PS: As for the people coming to this thread now that all is done with that smug "I told you so" bullshit... well go on and show everyone your true colors.
 
Angel O2 Mercer said:
I'll happily eat my own words even though I said several times that nobody could predict the payment at all. Investing in them was a matter of faith.

Better luck next time I guess :)

PS: As for the people coming to this thread now that all is done with that smug "I told you so" bullshit... well go on and show everyone your true colors.
Click to expand...

Come on folks, that payout is miles under. The CEO is sitting in his PJ's this morning, then said oh f*** the compet payout.

CEO phoned Joe blogs...."better pay them, promised I would today"
Joe blogs...."how much"
CEO...."well if we do this calc A: its worth 20 ped a deed, or calc B: 10 pec deed, or calc C: 5 ped a deed"
CEO again....."How much revenue we talking best calculation?"
Joe Bloggs....."Errr few million governor"
CEO...."Mmmm pay them 70K, I'm eating my cornflakes, can't be arsed with this shit on a Sunday". Besides I'm going to church..cough cough".
Joe Blogg....."ok will do boss".

Relax people, forget you got them. Wait a few months.
It's started to pay, chin up.

It's the usual Ma illusion bollocks, until they're ready to tell us.

Rick
 
I got 175.00 ped, and own 500 of the buggers

( 200000 / 500 ) x 175.00 = 70000 peds EXACTLY

It's just bullshit number to make it happen today.


Rick

Edit: And the message is "you want more, log in and play it"....smiling, because that is exactly what Ma is saying today as well.
 
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Angel O2 Mercer said:
I'll happily eat my own words even though I said several times that nobody could predict the payment at all. Investing in them was a matter of faith.

Better luck next time I guess :)

PS: As for the people coming to this thread now that all is done with that smug "I told you so" bullshit... well go on and show everyone your true colors.
Click to expand...

I can give you I told you so bullshit :)

Making Pokemon when Pokemon was already going out of fashion, it was expected. Game was childish, did they expect kids to steal their parents credit cards?

If you think investing is matter of faith, well..there's not much to add. There was no other outcome to this and if you did not see it or still don't see it, I suggest you stop investing it this lifetime.
 
RickEngland said:
CEO...."Mmmm pay them 70K, I'm eating my cornflakes, can't be arsed with this shit on a Sunday". Besides I'm
Rick
Click to expand...

70K does seem an exceptionally round number for 12 months of payout. I was quite impressed that it was 70,000 and not 71232 or something like :laugh:

Maybe the deeds are set like the AUD where they have to payout a whole number of pec each payout with the remainder carried over to the next month... I don't remember how many days/months the revenue has been accumulated to check out this theory though.

Also we don't know MA's definition of "revenue" or how they calculate this, which might explain the roundness of the number.

Or it could be a coincidence (but we need something to talk about until the next payout I guess :laugh:)
 
NPV said:
I can give you I told you so bullshit :)

Making Pokemon when Pokemon was already going out of fashion, it was expected. Game was childish, did they expect kids to steal their parents credit cards?

If you think investing is matter of faith, well..there's not much to add. There was no other outcome to this and if you did not see it or still don't see it, I suggest you stop investing it this lifetime.
Click to expand...

Woah, I can't process how smart and awesome you are.

Please, do continue to teach us ignorant peasants.
 
deleted that post

Rick
 
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The most economical deposit in compet is exact 500ped - so its likely that most players who did deposit used that option (i know i did at the start lol) - but nevertheless for it to be exact 70,000 is very unlikely and sounds more like a made up number... especially considering that the deeds only pay a percentage of the total.
But to be fair i think the real number is actually lower then 70k, it would be surprising if there had been that many deposits considering the low amount of hardcore players (which has declined even more over the last year).
 
RickEngland said:
I got 175.00 ped, and own 500 of the buggers

( 200000 / 500 ) x 175.00 = 70000 peds EXACTLY

It's just bullshit number to make it happen today.


Rick
Click to expand...

A) Are we sure that all the deeds even sold?
B) As was mentioned it's probably just like AUD where only whole numbers are paid. 200,000 deeds each get 0.35 ped mean exactly 70,000 ped payout. However if that payout were 0.36 peds each it would mean the total payout would have to be 72,000.

So if it was actually like 71,225 they would round down to the neared pec that could be paid to everyone. I don't think the 70k is just some arbitrary amount I think that's the payout and the trailing extra numbers and being carried over just like AUD. Compet was not a well received app if you look at the reviews. As well, as an entropia player you may not bat an eye pumping $500 into compet but most casual mobile gamers will put like $5 in to a game tops to test it out - most never get beyond that point. So I'm not too surprised by this outcome.

To take it a step further wasn't this payout only supposed to account for 30% of their total profit? If that's the case then MA only made about $23,300 since compet came out like 2 years ago. That's pretty low - good thing they got participants to give them a $2,000,000 advance to make the game in the first place so their asses are covered. They certainly made good money on the APP lol

Mindark made $2,023,300 on the compet app that probably cost them about $75,000 to build. A 2,697% ROI. Participants on the other hand made 0.35% ROI. Though they also have the value of the deeds too which will probably crash to like 20 peds each or less which if you factor that in means an 80% loss. Seems legit to me.

I'm truly sorry for everyone that lost their ass on this. A good number of people bought lots of deeds, held onto them for the last couple years in faith but were burned horribly. MA played this very close to the chest not letting anyone know a status update for the last 2 years and now we know why. Guess this payout was more of a "let's pull the band-aid off now" tactic rather than anything else.

Perhaps MA could give back to the community some of the $2million profit they made? ...perhaps with increased loot payouts? Invest in development to fix the things people have been complaining about for years? Add some new content to the game? Maybe run another event with real prizes like the old alienware laptop giveaway? Issue a buy back of compet deeds at a fixed price to defray peoples loss especially with the inevitable deed markup crash that will happen due to this news?
 
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RickEngland said:
Come on folks, that payout is miles under. The CEO is sitting in his PJ's this morning, then said oh f*** the compet payout.

CEO phoned Joe blogs...."better pay them, promised I would today"
Joe blogs...."how much"
CEO...."well if we do this calc A: its worth 20 ped a deed, or calc B: 10 pec deed, or calc C: 5 ped a deed"
CEO again....."How much revenue we talking best calculation?"
Joe Bloggs....."Errr few million governor"
CEO...."Mmmm pay them 70K, I'm eating my cornflakes, can't be arsed with this shit on a Sunday". Besides I'm going to church..cough cough".
Joe Blogg....."ok will do boss".

Relax people, forget you got them. Wait a few months.
It's started to pay, chin up.

It's the usual Ma illusion bollocks, until they're ready to tell us.

Rick
Click to expand...

You really are so delusional. People have been saying from the start that this game will fail. More people said it was going to fail once it got released. Its a shit game and no one is going to pay to play it. You can keep flying flag as much you like and coming up absurd scenarios, but the number dont lie. You might of thought
RickEngland said:
I wouldn't be surprised at 10 - 20 PED (not pec) a deed for the first payout. That's me being quite conservative. Rick
Click to expand...
. You was wrong and
Me Really Never said:
my educated guess would be 5 to 10 pec first payment tops and then about 1 pec every 1 to 3 months
Click to expand...
was right. You can flog the dead horse as much as you like, but its never going to be like how you want it to be.
 
jambon said:
A) Are we sure that all the deeds even sold?
B) As was mentioned it's probably just like AUD where only whole numbers are paid. 200,000 deeds each get 0.35 ped mean exactly 70,000 ped payout. However if that payout were 0.36 peds each it would mean the total payout would have to be 72,000.
Click to expand...

I really don't get all the panicking.

Doesn't matter if the deeds sold or not, its still calculated on 200K deeds.

When AUD came out, they didn't pay out for days. They paid like 1 pec every few days...remember.
That was before the events in there, and MA adding regular mining ATH to boost the income.

Think I screwed up on my 1.75 pec calc.,,,,ignore that. Just about keeping up with all the PMs' in game about it.

Rick
 
Im keeping mine, things might change...
 
RickEngland said:
I really don't get all the panicking.

Doesn't matter if the deeds sold or not, its still calculated on 200K deeds.

When AUD came out, they didn't pay out for days. They paid like 1 pec every few days...remember.
That was before the events in there, and MA adding regular mining ATH to boost the income.

Think I screwed up on my 1.75 pec calc.,,,,ignore that. Just about keeping up with all the PMs' in game about it.

Rick
Click to expand...

I'm not panicking - I sold all mine over a year ago when they were at 110 peds each. :laugh: Though this is probably the final nail for many more avatars. Expect a nice dip in high end gear prices! Woot Woot! lol

Well I was wonder if they all sold because if not one could theorize a number of additional scenarios regarding the payouts. The real point of my post was everything after that sentence in part B lol

On another note are we sure that this payout was for the last 2 years and not just this month? If if was just this month that's a really good payout. Suppose the real chaos will ensue when the next payout happens if it's the same or substantially less.
 
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bigdaddy trim said:
You really are so delusional. People have been saying from the start that this game will fail. More people said it was going to fail once it got released. Its a shit game and no one is going to pay to play it. You can keep flying flag as much you like and coming up absurd scenarios, but the number dont lie. You might of thought . You was wrong and was right. You can flog the dead horse as much as you like, but its never going to be like how you want it to be.
Click to expand...

175 ped divided by 500 = 0.35 ped per deed first payment. So he was miles off.

edit: whatever, I'm holding mine. If people want to dump and panic go for it.
MA make it work they always do, that's how they roll.

Good luck folks.

Rick
 
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matthew said:
I agree with this. It is important in a RCE that every item is free to be traded at it's true market value (good or bad).

I feel very sorry for people who bought deeds after the beta ended at 80-100 ped, MA knew at this stage that this was not the true value of the deeds yet they chose not to disclose the payout history to potential investors until this stage.
Click to expand...

That's really the insidious & unscrupulous part of it.

Didn't they even up the price at that point?

Well, i guess it's on to greener pastures now...Deeptokens anyone?
 
LuisArkadov said:
That's really the insidious & unscrupulous part of it.

Didn't they even up the price at that point?

Well, i guess it's on to greener pastures now...Deeptokens anyone?
Click to expand...

You know MA could've paid us "our" expectations. There's so many choices to calculate revenue in compet.
All people did was slag it off and say it's going to be pec, pec pec pec......so they paid us PEC.

And that ladies and gents is how its rolls.

No one f**ing sold it up. So we get what we asked for....get it how it works.

I'm going back in game. Park the deeds and forget it.

Rick
 
I expect an official announcement tomorrow that the deed payments are actually 0.35 peds per deed per day backdated as promised.

With it being a Sunday something went wrong with their auto-payout coding script.

*selling compet deeds*
 
Not sure the official statement in compet forum could be misunderstood:

Regarding Deed Payout
Postby Princess|ComPet » Sun Feb 25, 2018 10:24 am

The first distribution of ComPet Deed revenue sharing has been completed and can be found in the PED Flow Center. This revenue sharing distribution reflects all ComPet revenues accumulated before February 25, 2018.

Clearly, the level of revenue is significantly lower than hoped for when initiating the ComPet project. Longer than expected software development time resulted in the postponement of the majority of planned marketing efforts, which in turn adversely affected player recruitment and revenue.

Over the past several months, the ComPet team has focused on improving conversion rates, playability, and monetization. Those efforts are ongoing, and once completed the plan is to relaunch ComPet alongside coordinated marketing push. More info on the progress of those efforts will be made over the next several months.

Future revenue share distributions will be made on the first day of each month, starting on April 1, 2018, and will reflect all undistributed revenue accumulated since the previous distribution.


- Team ComPet

sauce: http://forum.competgame.com/viewtopic.php?f=15&t=21601&sid=1f410bb100da2cb85dc0d81d0a4f1a04
 
LuisArkadov said:
Not sure the official statement in compet forum could be misunderstood:

Regarding Deed Payout
Postby Princess|ComPet » Sun Feb 25, 2018 10:24 am

...More info on the progress of those efforts will be made over the next several months...
Click to expand...

made my day :lolup: I will translate the meaning of this - wait another 2 years to receive another 0,35 ped per deed :lolup:
 
LuisArkadov said:
Not sure the official statement in compet forum could be misunderstood:

Regarding Deed Payout
Postby Princess|ComPet » Sun Feb 25, 2018 10:24 am

The first distribution of ComPet Deed revenue sharing has been completed and can be found in the PED Flow Center. This revenue sharing distribution reflects all ComPet revenues accumulated before February 25, 2018.

Clearly, the level of revenue is significantly lower than hoped for when initiating the ComPet project. Longer than expected software development time resulted in the postponement of the majority of planned marketing efforts, which in turn adversely affected player recruitment and revenue.

Over the past several months, the ComPet team has focused on improving conversion rates, playability, and monetization. Those efforts are ongoing, and once completed the plan is to relaunch ComPet alongside coordinated marketing push. More info on the progress of those efforts will be made over the next several months.

Future revenue share distributions will be made on the first day of each month, starting on April 1, 2018, and will reflect all undistributed revenue accumulated since the previous distribution.


- Team ComPet

sauce: http://forum.competgame.com/viewtopic.php?f=15&t=21601&sid=1f410bb100da2cb85dc0d81d0a4f1a04
Click to expand...
Hahaha.. Fucks up on development and takes money from Compet Deed Fund

Im done. This whole company just needs to go bankrupt. RIP for the people who have Thousands of Dollars in items. I would hate to be owning any large valued item
 
virtulex said:
made my day :lolup: I will translate the meaning of this - wait another 2 years to receive another 0,35 ped per deed :lolup:
Click to expand...

So the deeds will have amortized round about the same time mankind discovers the real life entropia universe
 
LuisArkadov said:
Not sure the official statement in compet forum could be misunderstood:

Regarding Deed Payout
Postby Princess|ComPet » Sun Feb 25, 2018 10:24 am
Click to expand...

The Sunday guy in charge of the Pedflow Centre was probably some trainee working alone and unsupervised.

He will have been distracted watching the Winter Olympics, maybe Sweden in the Curling, operating the television remote in his right hand, playing Compet on his cheap android mobile in his left hand whilst coding the PedFlow Centre with his feet.
 
Oracle said:
The Sunday guy in charge of the Pedflow Centre was probably some trainee working alone and unsupervised.

He will have been distracted watching the Winter Olympics, maybe Sweden in the Curling, operating the television remote in his right hand, playing Compet on his cheap android mobile in his left hand whilst coding the PedFlow Centre with his feet.
Click to expand...

I'm sure that's exactly what happened.

Sorry lads...False Alarm...You'll be paid in bridges and snake oil tomorrow
 
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