Chapter 145
Cheating Subscriptions
If you live a good life in society, you are the one who lost it.
Take care of what you need in moderation, and look at what will benefit you.
Utilizing sourcecoin’s money copy meant that.
“I’m really surprised that Rowona has risen 24 times.”
“I think it is because it is linked with the stablecoin Tay. Because the price of the coin keeps going up.”
When the price of the stablecoin Tei decreases, Loona is issued continuously, and when the price of Tay rises, Loona is bought with Tei.
‘What’s the difference between copying each other with two types of money?’
Dojin Kwon and Taform Labs used this method to make Loona worth $6.7 billion.
Personal assets were also estimated at more than 2 to 3 billion dollars.
Earth Resources was prohibited from issuing source coins in excess of the capital.
Coins were issued according to price without any restrictions for Tei and Loona.
Even if you copy the same money, it feels like there is no morality.
“Does this method still hold up well?”
“There are opinions that it is a scam, but so far it seems to be holding up well.”
“Hmm.”
It is unbelievable to partner with a large-scale e-commerce company, and investors will be only interested in coins going up anyway.
Few of the coins went as planned.
‘It’s exactly the same as the gambling hall.’
I visited the website of Taform Labs.
―The center of virtual currency transactions.
―Taform Labs currently holds $3 billion worth of Source Coin.
―When Loona is deposited, 20% interest is paid annually.
―Roona, the 7th largest cryptocurrency market capitalization.
As the price of Loona rose, investors continued to pour in.
Even looking at the coin bulletin board for a moment, I could feel the heat.
-Roona! Roona! Gaza!
―Roona keeps climbing haha
―Are there any good news for Roona today?
―Kakao Talk Loona looking for a room!
―Is Roona a rookie? Is God Loona?
―I can feel the words that Roona is good.
If Source Coin investors were calm, posts related to Loona were full of enthusiasm.
Coin investment should add madness to the expectation psychology. But there was one part that bothered me.
“Is Loona really a reliable coin?”
“I don’t know. And while they say they own more than $3 billion in Source Coin, it probably isn’t that amount.”
“okay?”
“Yes. Transactions in Source Coin are mostly tracked by the company.”
Earth Resource had a function to track issued source coins.
Small transactions of 10 or less are not detected, but all larger transactions are reported to the company.
“It is expected to be around 45 million. There is a possibility that he may have held more under a borrowed name.”
“So that’s a little less than $1.5 billion.”
Half of the assets held by Taform Labs.
False announcements in the stock market are investigated by the Securities and Exchange Commission, but there are no restrictions on the coin.
‘The US government must be watching the whole situation.’
I remembered a conversation I had with Senator Bill Karen.
―Bill: Neither the US administration nor the Fed will hand over the initiative in running the economy.
―Bill: I know the coin market is turbulent, but I am leaving it in the name of freedom for investors.
―Bill: To be honest, the current situation is intentional to some extent.
―Kim Shin: Intention?
―Bill: The lack of regulation by government agencies is likely to result in losses for investors. Fake news and fraudulent companies abound.
―Bill: In the end, the coin market will not be larger than a certain size.
If you forcefully suppress the coin market, you can hide in the shadows.
It means that the market is open and managed by preventing investors from jumping into it.
“Leonard.”
“yes.”
“The coin market is shit.”
“It’s a complete mess of speculators and con artists.”
“you’re right. What can we do from the standpoint of operating an exchange?”
One of the virtues of a company representative is to listen to the opinions of subordinates.
Conversely, when it is ambiguous, you can ask a subordinate to come up with a solution.
Is it the power of the person who pays the salary?
Leonard said without hesitation.
“It is to evaluate coins.”
“Evaluation?”
“As credit rating agencies classify and rate corporate bonds, Earth Resources evaluates them.”
“… … .”
It was an answer I had never expected.
Credit rating agencies such as Fitch in the UK, Moody’s in the US, and S&P were powerful enough to influence the international financial market.
Assessing the credit ratings of companies and countries sets interest rates accordingly.
There were several ratings under investment qualification, investment caution and non-investment qualification.
“When we do that, we can earn the trust of our customers.”
“you’re right. I think there will be fewer cases of being victimized by outrageous fraudulent coins.”
“But what about the downside?”
“We need to increase the manpower of the exchange.”
“It won’t be difficult, as long as you bring in people from Wall Street.”
Earth Resource was in the limelight of many job seekers.
If you’re recruiting staff, it’s not a problem to hire people with professional experience.
“Still, companies that issue coins will hate it. Most coins will have a low evaluation score.”
“What is the evaluation score?”
“Most of them will be rated as non-investment or investment caution. Even if you don’t bring in the form of a credit bureau, and based on your college grades, you won’t get a grade higher than a C.”
Due to the boom in the virtual currency market, daily coin transactions exceeded $250 billion.
If you stay still, you have reaped more than 50 million dollars in daily income through the coin exchange.
If you judge the value of coins and set a rating for them, coin companies and investors will hate it.
Some coins have been able to drive the price down.
“As much as the exchange makes money, it should think of its customers.”
“then… … .”
“Let’s proceed with the evaluation of the coins.”
* * *
―Josua: The weather is clear today.
―Kim Shin: Is there any fine dust?
―Sooah Jo: Since the corona, there are few days with fine dust.
A calmness came to my heart when I had a conversation with Joshua.
It’s a pity that we can’t see each other often, and I’m afraid that if we see each other too often, we’ll become addicted to that warmth.
―Jo Soo-ah: Team leader Ahn seems to be having a hard time these days.
-Kim Shin: Why? Do you have a lot of work?
BioLife was still doing a lot selling vaccines.
A company that forms the axis of vaccine supply with Pfizer and Moderna.
Exporting vaccines to countries around the world has played a large role in reducing damage caused by Corona.
―Joshua: My wife and children went to Hawaii.
-Kim Shin: Huh?
I heard the news of An Myeong-guk from Jo Soo-ah.
The story of his family going to the United States to study abroad and becoming a goose father.
‘If I had stayed in Arkor, this wouldn’t have happened. Did my life change because of me?’
During my company life, Team Manager Ahn Myeong-guk acted as a strong protective shield.
It protects against harsh rain and wind, and helps you adapt to the company life you are not used to.
I don’t know how many times I’ve shown pictures of my two children on the company rooftop.
He learns an instrument he has never played before, swims, and teaches soccer or baseball.
The person who gave me an indirect experience of how complex and difficult it is to raise a child.
I can’t forget the look on Ahn Myong-guk’s face, who felt proud and rewarded while talking about the children.
‘If I go to Hawaii, I won’t see you often… … .’
I couldn’t get involved in Ahn Myeong-guk’s family affairs, but I didn’t feel comfortable because he was someone close to me.
Since I will never get a job at any company in the future, I must have been a boss who will be remembered forever.
―Kim Shin: Executive Director.
―Executive Director Ahn Myeong-guk: Yes. CEO.
―Kim Shin: I have two good news. What would you like to hear first?
―Executive Director Ahn Myeong-guk: What is it? I want to hear better news first.
It was impromptu, but it was something I had thought about while watching the work done so far.
―Kim Shin: It’s hard to rank good news.
―Executive Director Ahn Myeong-guk: Then, please tell me something.
―Kim Shin: Please serve as the vice president at Bio Life.
―Executive Director Ahn Myeong-guk: Me? Are you getting a promotion already?
-Kim Shin: Yes. Dr. Lee Ho-yeon is the key to research and development, and I think you can take care of the business part.
The role of the division that manages vaccine production companies in Korea and leads overseas sales.
How many happy things can there be like a promotion to an office worker?
―Executive Director Ahn Myeong-guk: I will do my best!
―Kim Shin: There is one more good thing left.
―Executive Director Ahn Myeong-guk: I’m looking forward to it being as good as a promotion.
―Kim Shin: The annual salary will increase according to the vice president level.
All I could do was a promotion and a salary.
―Executive Director Ahn Myeong-guk: Thank you. CEO!!!
I didn’t mention the specific amount, but I was thinking of raising the salary drastically.
Dr. Lee Ho-yeon’s annual salary and incentives were approximately 600 billion won.
He was a key researcher of K-vaccine, and Daewoo as a founder.
I also had no intention of making money through a company called Bio Life.
‘I’ll have to give the vice president about 6 billion won.’
It was an annual salary at the level of CEOs of major pharmaceutical companies in Korea.
It sounds like you are giving a huge salary to parachute connections, but the more money you have, the more important you think people are.
Another call came from Korea.
―Kim Sang-ki: We are meeting with the Haneul Hangeul management team and the major shareholder to discuss the takeover.
-Kim Shin: Yes. How are you?
Document editing and office software that will be an important axis of Pangea Live.
As long as the translation is done well, there is no shortage of functionality even if it is distributed all over the world, and I wanted to take over a Korean company that I knew well.
―Kim Sang-gi: These bastards have risen to the top?
-Kim Shin: Huh?
―Kim Sang-gi: They say they will settle the subscription system. It is said that the operating profit will increase significantly in the future, and it is an amount that reflects a 30% premium for management rights to the current share price.
A story about changing a document editing program like Haneul to a subscription type and receiving a monthly fee.
As OTT services lead the trend, the term “subscription economy” has even emerged.
Subscription systems were being activated for large home appliances such as refrigerators, washing machines, and televisions, as well as beds, blankets, and pillows.
‘The word is a subscription. What’s the difference between not selling at once and getting monthly rent?’
OTT companies had to provide new content and services every month.
It is correct to receive a certain usage fee in the form of a viewing fee, but it did not seem to be beneficial to customers to apply such a subscription system here and there.
Even for cars alone, leasing was much more expensive than purchasing in cash.
―Kim Shin: But customers may not want to subscribe. What if you want to buy software like now?
―Kim Sang-gi: They say they don’t sell software.
-Kim Shin: What do you mean?
―Kim Sang-gi: No longer selling Hangul. Say you plan on distributing by subscription only.
In the case of a document editing program, once sold, that was the end.
It was a complete conversion to subscription type for steady sales.