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BT COME BACK!
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Re: Future sponsorship?
Is that the year we appeared on the Footy Show cap in hand appealling to be sponsored?
We trotted out Nathan Brown and Darcy from memory begging for a sponsor.
Wasn't a high water mark.
Might've been post Vodafone ending in 2001 and we couldn't get anyone.
I think Eddie was trying to help but I'm not sure we needed the prime time humiliation in hindsight.Comment
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Re: Future sponsorship?
This is correct. Years later, an Essendon supporter on BigFooty recalled all the 2002 weekly sponsors as these:
PS Clayton's Kitchens
1 Bob Jane T-Marts
2 Mazda
3 Barter Card
4 Barter Card
5 LeasePlan
6 LeasePlan
7 Yellow Pages
8 Yellow Pages
9 Australian Unity
10 BenQ
11 Lawson Lodge
12 Work Safe
13 LeasePlan
14 LeasePlan
15 Burbank Homes
16 BenQ
17 Mazda
18 LeasePlan
19 LeasePlan
20 BenQ
21 BenQ
22 BenQComment
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Re: Future sponsorship?
Not meaning to divert the discussion but I feel I can contribute a bit here.
A common misconception with blockchain-based assets is to think of them as a new asset class. They are not. The only difference between blockchain-based assets and traditional assets (shares, bonds, fiat, titles) is the medium of storage.
Traditional assets are stored on proprietary or government databases, and any transactions between these institutions need to be ratified by all parties involved. If you're an ANZ customer wanting to send money to a Commbank customer friend, ANZ needs to first verify that the person requesting to transfer money is in fact you, after which time they need to reduce the number of Australian dollars next to your name in their database as well as inform Commbank to change their database to show an increase in your friend's holdings.
A blockchain at its core is simply a database that's open for anyone to use. Anyone can store, send and receive value on a blockchain securely, but can only send money on accounts for which they have the password. In the example above, ANZ and Commbank could both use the same blockchain (database) to secure their customers' Australian dollars, subverting the need to a) trust each other to make the appropriate changes to their respective private databases and b) communicate the change.
In fact, the RBA has been researching into the possibility of issuing AUD on a clone of the Ethereum blockchain (Ethereum is the largest, most widely used blockchain globally):
Many of the 'cryptocurrencies' that are traded are indeed without any fundamental value. Trading these is in my view worse than throwing money down at a roulette table. Often you're trading against wealthy market manipulators who have a much better grasp of how markets move than you do. They will take your money in the long run.
BUT through the mire can be found tokens (assets) with genuine fundamental value. Most of these function like equities, and unlike many tech equities they actually pay dividends.
Blockchains are still in the process of scaling up their transaction bandwidth to be able to cope with global demand. There are a few around today that can process similar numbers of transactions per second to VISA, but they do not yet have wide usage. There will come a time when it makes sense for institutions to use blockchains, and when that happens many people will use them and own cryptocurrencies without even realising it.
What Grantysghost has described is called Proof of Work consensus.
It's used to decide who is permitted to change entries on the blockchain (database), and to make sure that anyone given this right has skin in the game. The miner who solves the complex puzzle has by that time spent thousands on computer hardware and energy costs. If they attempt to add false transactions to the database (say, credit themselves with all of the Bitcoin), the network (everyone else) will invalidate the information they have provided, and the miner won't be rewarded with any Bitcoin. Because they have gone and spent thousands of dollars on electricity and hardware, they have a strong incentive to provide a truthful account of new transactions as requested by the network. Unfortunately it consumes a lot of energy to run this protocol.
There is a new consensus protocol called Proof of Stake being rolled out by the Ethereum foundation and already running on many other blockchains in various forms. It works in the same way to make sure that anyone updating the blockchain has skin in the game, but does so simply by requiring the miner to stake money on the truthfulness of the information they're changing. This does away with unnecessary energy usage.'And the Western suburbs erupt!'Comment
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Re: Future sponsorship?
The scale required to profitably mine BTC now is mind boggling. China looking to ban all mining pushing groups into other places like Mongolia. In the US firms have procured old power stations just to mine Bitcoin!
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The combination of bitcoin's high price and its tremendous energy demand has pushed miners to take extreme positions. Miners in China have flocked to provinces such as Inner Mongolia, where cheap coal power makes mining more profitable. The scale of these facilities reflects how much money investors have sunk into the projects. At least one mining facility in Inner Mongolia draws more than 50 MW. Similarly large operations are popping up in the US, too. In upstate New York, a private equity firm bought and revamped an abandoned power plant just to mine bitcoin. When its data centers are completed, mining will consume 79 percent of the power plant's capacity, or 85 MW. China's warning to bitcoin miners is certain to push many operations out of the country. At least one bitcoin observer said that he anticipates miners pushed out of China will set up operations in Mongolia, Kazakhstan, and Afghanistan.Comment
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Re: Future sponsorship?
So it turns out that Melbourne announced its own crypto partnership with Coinjar six days ago (two days before we announced CoinSpot).
Seems coincidental, I wonder if one mob heard the other was going to sponsor a team and the other quickly moved to do the same?Comment
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Re: Future sponsorship?
FTX, a larger Hong-Kong based exchange, sponsored the Miami Heat with a contract worth $135m a couple of months ago. That's where they would have both got the idea I would imagine.
Not sure if anyone knows about NBA Top Shots but they are like digital collectible cards, in the form of video moments from NBA games.
They've seen a lot of attention this last year. Many top shots have sold for thousands of dollars. Now it looks like they're formatting a fantasy competition around the top shots. Not dissimilar to teamcoach but entirely online, running on the Flow blockchain.
Sports media online licensing is just getting started (love it or hate it). It's only a matter of time before the AFL go down the same road. Coinspot and Coinjar know this, and maybe the Dogs and the Dees know it as well.'And the Western suburbs erupt!'Comment
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Re: Future sponsorship?
Nick Truelson our Chief Commercial Officer has just been appointed CEO of Melbourne United (NBL).
Nick has been CCO for over 10 years and overseen some pretty impressive sponsorship deals. Good luck to him and hopefully we find a great replacement.Comment
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