"When the site goes live all shares in your portfolio will be deleted as will your transaction history for the beta period. You will only take your cash balance forward. Blogs will have their shares reset to the original 5000 and you will receive 1000 shares in every blog you've claimed ownership of. So be sure to sell your stock early. There will be a limit on the number of buys players can make in the first 12 hours of the game to ensure there are plenty of investment opportunities for everybody." That is from Seyed, owner of BlogShares, who is likely starting off a market crash, with everyone selling all their shares off and as you see the price drop, it is not hard at all to imagine that the market can quickly go into a nose dive.
Therefore, you will note on the side you see my portfolio shows at around $5K. This does not include the $5K I have in cash that I am trying to put aside for the reset, in case things happen that prevent me from cashing in the rest of my big holdings. I am not sure if the bots are still out there crawling, but I hope they are because I have a lot of holdings that are worthless, but have the potential once the valuations are fixed. I suspect, though, that a lot of sites will drop to almost nothing, thus making them even more worthwhile when the site picks up. Sadly, the first 12 hours after reset will see limited buying, so one, like me, needs to be very careful what I buy with future increases in mind. Either way, 7 days of a stock market roller-coaster on BlogShares is ahead. Let's Ride!
Leave a comment