Bitcoin Forum

Hi all,

Just a quick intro...I just graduated from ND with my econ degree in december and I've been interested in everything bitcoin and bitcoin-security-related since I found out about silkroad about 3-4 months ago.  I gathered a bunch of btc using faucet and task-based sites, but I wanted to earn more without having to do anything, so I looked into securities.

So now I've been trading securities on BitFunder for about a week and I've noticed one huge problem: transparency.  One of the assets I bought right after registering for BitFunder was ZigGap (1 share), the price of which just fell to nearly zero after someone dumped all of his shares on the market (some people are pointing fingers at the issuer, saying he was one of the only shareholders with enough volume to crush the market - can anyone confirm?).

The biggest problem with many of the issuers is that while some certainly have an entrepreneurial spirit and some talent with coding, they don't seems to know anything about finance, economics, business, or the importance of investor relations (or they don't care).  Very few issuers provide a personal (rather than business) username, let alone their contact information.

If we really want bitcoin to take off, we need secure financial markets (like the regulation in fiat asset markets) to promote the stored value in those assets.  At the end of the day, this is going to have to mean opening real-life identities to shareholders through linkedin, facebook, etc. as well as showing a commitment to investor relations with consistently-timed dividends and financial plans and reports that encompass more than a google spreadsheet.

Don't forget that although bitcoin might be digital currency, its still worth a lot of money (and becoming even more so by the day).  I think we really need to push for the kind of transparency I've mentioned, especially because it will boost the value of bitcoin assets in the long run rather than encourage cash-out tactics, scams, and pyramid schemes.

Thanks for listening, y'all and hopefully enough people will back me up on this.  Showing your face on the internet isn't necessarily a bad/risky thing if you can show you're a smart businessman that can earn money for your clients.

Your testimonial on the current value of ZigGap explains their all-but-shuttered internet presence since last week.

To the crux of your post, I think placing SR and BitCoin in the same paragraph will not bring about the transparency you seek in regards to those involved.  Regardless of what you and I think about SR and about BTC, it's impossible as it stands right now.  I like your intention but it's a tremendous task to say the least.  I'm not saying it's a pipe dream (pun intended), however, and I am always amazed at the intelligence and spirit that Bitcoin is bringing into the fold.

Its more about being able to mercilessly punish someone's reputation online using their real name if you've found out they fucked you over.  That's what I'm really getting at.

Absolutely.  I love it.