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Star Citizen / Re: Star Citizen - The E.L.E.
« Last post by dsmart on Today at 05:42:04 AM »
Meanwhile.... What if CIG focuses on ship sales during the Gamescom presentation?

What do they mean by "what if" ?

Or this one: When CIG inevitably succeeds with SC one day, what will you remember as your biggest concerns about the progress of this project?

Since when is fails spelled succeeds?

Oh yeah, I have been following those too. It's almost as if they're becoming self-aware.
Star Citizen / Re: Star Citizen - The Game
« Last post by dsmart on Today at 05:40:16 AM »
End of September maybe?

Ha ha ha ha

and I thought you didn't have a sense of humour  :lol:

October would be my guess, seeing as Sept is already knocking up on CitizenCon. But from what I'm hearing, that too is a very long shot. And unless they cut it and/or ship it with the pre-existing problems (serious hard locks, performance issues etc) like they did with 2.0, even Dec is tough.

They're between a rock and a hard place. They simply cannot release 3.0 in any condition now, and think it's going to be OK with backers. Especially since that whole "Chris is a perfectionist" bullshit went out the window a long time ago.
Star Citizen / Re: Star Citizen - The E.L.E.
« Last post by StarBallz on Today at 05:38:50 AM »
Was gonna write the same, most likely they're paying minimum 5-6% interest rate if not more, they're being rated as a high risk company, they got virtually no assets (SC/SQ42 isn't an asset as it's not finished, not even in Beta), an income stream that could dry up immediately or over the next couple of months, that puts them in a bad position to get any good rates offered.
Star Citizen / Re: Star Citizen - The Game
« Last post by dsmart on Today at 05:36:19 AM »
The RSI forums are full of 'malcontents' that do little other than slam the company and their practices, seriously, I'm not sure which forums you're talking about but spectrum is loaded with a whole rainbow of emotions in relation to the project. I just post here because I enjoy it. I post on spectrum too and Reddit. I'm an equal opportunities internet denizen.

Nope. The RSI forums are moderated to within an inch of their life. The only areas of malcontent that aren't immediately locked and poster banned are a tiny spectrum of specific complaints that RSI allows to give the impression of open and fair discussion. I'm surprised that you didn't manage to notice that.

Yeah, pretty much. And this has been proven time and time again. In all fairness, in the past weeks, a few of the more critical ones have been left untouched. I have found that usually, all it takes is for one moron to step out of line, thus giving the mods a reason (not that they needed one) to lock the thread. The Rule 9 locks are usually hilarious.

Also, I think they've caught on to the fact that /r/Starcitizen is getting more traffic than that abomination of a forum, and the more they get to be heavy-handed, the more the ire will flow to Reddit and outside of their enclave.
Star Citizen / Re: Star Citizen - The Game
« Last post by dsmart on Today at 05:33:04 AM »
Definitely a man and a nice guy with a lovely wife and baby daughter. No marbles missing unless you think I'm mad for typing some words on a forum. University educated and not a kiddo. I like long walks on the beach, cooking, camping and music festivals. GSOH. Little overweight but working on it. I've always loved an argument as well, always have done. My parents would tell you I'm a massive wind up merchant. Never going to to obsessing about what others think of me, especially those I don't know on the tinterwebz.

Not that any of that matters at all. Let's get this thread back on topic shall we? Talking about me is very flattering but it's not really about 'The Game'.

OK that made me chuckle.  :thumbsup:
Star Citizen / Re: Star Citizen Media Articles
« Last post by dsmart on Today at 05:30:15 AM »
Star Citizen Has a Huge Development Cost Problem

This guest blog/article is interesting, and he nailed all the important aspects. It's curious that he thinks the game needs another $50M in order to deliver the game they promised backers, when in fact the project so far has been raising (and no doubt burning) through over $30M a year. I remember back in 2015 when I said if they had the engine, team, and over $150M, it would be possible. How far we've come.  :smuggo:

Success is far from guaranteed: Star Citizen does not have enough cash to deliver the game they promised backers. Even under very optimistic assumptions, they need around $55 million more to finish the job. CIG must keep the sales up or they will be insolvent. This explains why SC releases a constant stream of new, previously-unannounced ships they are trying to drive new sales. If there are major operational inefficiencies inside any of the CIG studios, or marketing and sales costs exceed $68 million, or returns reach significant levels, or future sales drop off prior to release, this game cannot be delivered as promised!
Star Citizen / Re: Star Citizen Media Articles
« Last post by dsmart on Today at 05:27:07 AM »
Well there you have it.  Even the PC Gamer article states that development started in 2012.

Which still contradicts Chris who went on the record several times saying it started in 2011. So.  :shrug:
Star Citizen / Re: Star Citizen - The E.L.E.
« Last post by Kastenbrust on Today at 05:26:36 AM »
I don't know. Bank of England base rate is at record low levels, just 0.25%, so with the HUGE amount of collateral offered they may well of gotten less than a single percent interest rate on the loan.

I used to work in merchant banking / general finance in the City of London however left the sector after the financial crisis, although I do still have a lot of friends, contacts and even family members still working there currently. I also worked and managed accounts for large international companies, umbrella corporations and mid-size companies with Coutts before, and can supply proof if need be.

I know for a fact CIG won't be getting a 0.25% loan, simply the fact they were forced to get a loan from Coutts is worrying, for commercial loans it's the bank of last resort because you can get loans way way way cheaper from other commercial banks such as HSBC Business and Barclays Business. People use Coutts for it's privacy and discretion, and pay through the nose for it. Like most commercial banks they have an annual 1% flat management fee for all secured loans (even higher for unsecured ones). This means ontop of the interest rate CIG is paying 1% of the value of the loan every year for the borrowing privilege.

Also the collateral for the loan that CIG have put up is fairly pathetic, they wont own the offices they are developing in and surely have long leases with the landlords (promised future debt, which is priority for repayments) that devalue the assets massively. They don't even have a working finished product, let alone multiple products. It's also a very new company with a huge number of liabilities and only a few income streams which are highly variable, such as the ongoing kickstarter fundraising. There's also the fact that Chris Robert's previous software and film enterprises mostly ended in failure or needed to be brought under financial control by outside bodies such as Microsoft...

They'll be paying top-whack in merchant banking terms for any commercial loan, much higher rates than huge established companies like Coca-Cola and Apple. No doubt they went with Coutts because Chris and Sandi use the bank to hide their substantial personal wealth which I'm lead to believe is in the millions. This is probably why Coutts agreed to lend to them in the first place also, due to their personal history with the bank.

Coutts actually do a specific 1-12 month business bridging loan for tax purposes, which I believe is the specific loan CIG took. It's secured and good for up to 70% max of the estimated value of the company, which gives you an idea how much they think the overall company including all it's assets and minus liabilities is worth. The loan runs at about 2.25%, plus the 1% annual fee (which if CIG pay it off in total within the 12 month period they will only have to pay once). There's also some brokerage and accountancy fees related to initial setup that they have to pay, around a fixed 75,000.
Star Citizen / Re: GamesCom 2017 - The Hilarity Within
« Last post by dsmart on Today at 05:25:31 AM »
I don't think they will make it. A fancy demo won't satisfy backers. Last years demo is nowhere to be found. A brilliant demo will make backers angry. Why waste time and money on another demo when 3.0 is still MIA. No matter how Chris will talk about his visions, his dreams, his plans and all the difficulties when doing things nobody has done before, backers want more. They want something they can actually play with. Doesn't matter how crappy (to some extend) but give us something. There will come a point when they demand that whatever is ready will be released and they will comment and report on the bugs. And that is when Chris has to admit that there just isn't anything there to be released or he has to release the crap he does have and that will be much, much, much worse than any backer could ever have imagined.

Chris is fucked, no matter how you look at it. Unless he has lots of money left, which he doesn't. It wouldn't surprise me if 2017 is the last year of CIG...

According to my sources, nobody quite knows what to do about GamesCom yet. And that was the same sentiment just last week!

They won't be doing any R&D demos this time apparently. But though my sources claim that rumors suggesting that streamers will be playing 2.6.3 during the show are false, one specific source has said that the goal is to live play sessions of 3.0 running in the same manner that they have done in the past. So far no word on whether or not streamers will be allowed to play it; either live during the show, or in closed sessions. Especially since it's still running at around 10 fps when you hit the moon. And that's on a LAN (which is what they will be running at the show).

So far, no word on SQ42.
Star Citizen / Re: The Star Citizenship
« Last post by dsmart on Today at 05:05:14 AM »
They are so dumb, if you tell them you can travel to the sun if you only fly at night, they start calculating how long it would take...

It beggars belief. Sometimes I really wonder if this project has simply tapped into the dumbest group of gamers in history. Sure, not all of them are like that, but man.  :magical:
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