Bitcoin Forum

I'm going to keep this thread updated to keep track of btcquick's progress.

About the Company: btcquick.com (http://btcquick.com)

• btcQuick is a new leader in the market for buying bitcoins with GoogleCheckout (credit & debit cards) & bank accounts (via Zipmark).
• btcQuick has sold more than $100,000 USD worth of bitcoins since launch.
• One (1) "share" of btcQuick on BitFunder represents 1/50,000,000th of monthly profits after all costs of normal business activities.(Payed with dividends)

"As of May 18th btcQuick had 2,877 membership level customers. By May 29th the total increased to 3,349. Our April transactions equaled 309, while the total transactions for the month of May were 429. The second half of the month of May saw an increase in sales that equated to 42%!"

btcquick will soon add a sell function to the website so clients can both buy and sell bitcoin. As of now you can only buy bitcoin.


Profit History
2012 November - $59.72 USD (Est. 4.7776 BTC)
2012 December - $136.36 USD (Est. 10.18371919 BTC)
2013 January - $415.95 USD (Est. 21.11421319 BTC)
2013 February - $1,790.62 USD (Est. 57.72469375 BTC)
2013 March - $ 2,741.64 USD (Est. 21.08461538 BTC) - March P&L
2013 April - $3,545.15
2013 May - $ 2,616.94
2013 June - $ 1,879.31 (1st to 15th) - (16th to 30th TBD)

Chart goes up to May, slightly lower profits on May. You can see the first half of June alone sees profits at $1879, and one could safely speculate that this months profits will be over $3500.

https://i.imgur.com/YOj8JvC.png?1

Shares Issued: 50Million
Total worth at current prices: 5000 BTC

If profits continue to rise (assuming the price of bitcoin is stable), it is a worthwhile the investment at current prices. BtcQuick is no bullshit about there profits, they give explicit updates every month on their profit margins and distribute the profits to the shareholders. I don't see many companies on the bitcoin stock market that do this. As most are speculative with nothing to show.

Current Price as of 29th June 2013

0.00009999
0.00011370 +8.8%
0.00011444 +0.7%
Dividends for the month are going to be payed within 6 days.





News 06/07/13
https://i.imgur.com/N4CNu59.png

What is your involvement with btcquick?

I am a small Shareholder of the company, (Beginning Of June)

I started this post to raise awareness of the company.

Oh ok, thought you were an employee.

Please show your support by liking the btcquick reddit page http://www.reddit.com/r/Bitcoin/comments/1hb9mw/buy_bitcoins_with_google_checkout/  (http://www.reddit.com/r/Bitcoin/comments/1hb9mw/buy_bitcoins_with_google_checkout/)

I wanted to like this stock but the dividends its been paying is just too pittley... 

Mmmh.

Dividend/month ~= .00000062
Ask = 0.00011370
-->
ROI = 183 months.

I think I'll pass.

ROI, you are assuming that btcquick profits are not going to go up in 183 months as i have shown, profits have been accelerating every month(besides May, read the News to see why). This Company has only been on the stock exchange for a very short period. I won't be surprised to see profits continue to rise exponentially as has been done in the past.

Either way risk/reward must we weighed.

Yeah, it's not a bad gamble, but it's often out of stock for days on end, so it's going to hit a wall sooner rather than later. He really needs to get selling and on the fly purchases (with fee) working.

Single site owner and programmer, development is moving slow.

Sure, but to convince me of such a thing you need quite a bit more ;)

I've bought BITVPS shares even if they still haven't issued any dividend, because I looked at their financial reports and they look very good...

Sorry guys i'm out, this is way to risky. Bitfunder and bitcoin investment in general is unregulated and extremely risky. Be careful and stay safe.

(Impossible to verify if profit margins are real)

LMAO, that was quick. You're right, but I figured you would have realized that before pushing the button. Bitfunder is my biggest blocker ATM.

Yeah, think before you act, thankfully i made a small profit. This market is scammer heaven. If you want a laugh check out the video on Kenilworth Exploration (bitfunder) http://www.youtube.com/watch?v=PE7mLxtjkE8
I don't think you can top this one. (not saying btcquick is illegitimate)

Things are moving faster than you think :D, We haven't run out of stock for 3 weeks.

All the best to your services, just to many variables for me to consider, to invest in for the long haul.

Nice, I'm not sure that's a good thing or a bad thing but we'll see. I'd actually be down for a gamble in btcQuick again if AM wasn't so amazing. :)

How come btcquick only sell bitcoins? where do you get your bitcoins if you are not buying?  from sold shares?  

They are buying them from other exachanges.

I see, thanks

Quick Update in case people wanted to know:

Bought back in at the 3.3 million share release mainly due to the massive jump in dividend payments.

Ive been keeping an eye on these guys for a bit, and before buying stocks, I was curious how this system works with the end user .

I just bought a membership, after paying the $1.99 and sending a copy of my ID, I was verified.

Unfortunately, they appear to be out of stock of Bitcoins right now. To me, a business that is constantly out of stock, will never turn a profit. These guys definitely have a great business model, but they have some kinks to work out. So it really depends if you have faith in the people running it.

i would look more positive to it like a shareholder. Company, which is out of stock is better than company with full stock with negative cashflow... it means growth to me. but surely, it is management failure in some way, so we need to see an improvement in near future

Its doesnt need to be failure in any way, I think they just got blown away with their estimates because of the last days buys of BTC. Iam pretty sure stock of BTC was higher.

surely it could happen that way, but personally i would take it like my failure if it would happen in my company  ;)

We ran out of stock because we did double out daily average... All I can say is that people seem to love us and they are sharing us with all their friends which is a good thing.

Congrats!

That is excellent news, good job!

Once the site was restocked, it was a quick and painless to receive the Bitcoins. I'll stick around for a bit.  I could see this getting big and picking up momentum.  There's a lot of verification to protect from charge backs, and google two step authorization protects google too.

I think it may be time to diversify! 

Nice thread! Did you derive those profit #'s from their dividends?

I do a lot of analysis on bitcoin stocks. All I can say is this is probably one of the best ones out there. If they keep up the dividends, you're looking at a 25-30% yield. I plugged in all the data I could find, and came up with the following growth projections.

I don't see why the final phase IPO won't do equally as well.. so, I have to value it somewhere around .0002....

https://i.imgur.com/5M0XSyt.jpg

Wow, since posting, stock has doubled.

https://www.btcquick.com/beta/

how about this site? It looks really good and legit.

That's what were talking about

Why does the graph look eerily like a bubble..  :-\

Did you guys see the Update by btcQuick on bitfunder yesterday.

The Sales are huge!

https://bitfunder.com/dashboard

Yeah... sales are tripling this month to $300k... $500k is my guess by September...

Because sales tripled and everyone wants a piece of the cake, assuming btcQuick can keep this growth up.

dont think so.. you can expect good sales when there is another price drop.. people were giddy to buy  because the price was dropping and this was a quick way to obtain some coins.

Talk about good ROI, see https://bitfunder.com/asset/TAT.VIRTUALMINE (https://bitfunder.com/asset/TAT.VIRTUALMINE)

even with difficulty increasing, it pays DAILY! At current price, the dividend is over 0.5% daily (0.00001922 dividend per share and share is around BTC0.003650 now)

Also, their competitor can now do instant purchases. Check out www.coinbase.com which after verification and waiting a month, you can purchase up to 50 BTC instantly!!! (Not with CC, but with bank EFT). INSTANT and LOW fee.

I have a membership with BTCQuick, but the limit on that was $250 USD a day. Also the fee was high.

coinbase was TRULY instant since I am a Level 2 user having my ID verified and have purchased from them before.

Only wish coinbase was on bitfunder.



Full disclosure, I have made money off of BTCQuick on bitfunder too.

That's the second fresh account I see promoting Tat.Virtualmine today, not conspicuous at all...  ::)


i think btcQuick is still too young to make proper assumptions about the correlation of BTC/USD and btcQuick sales. the BTC price moved about 30% up and down the last 2 weeks while btcQuick's revenue more than tripled. according to your logic the rise and crash of April would have been much more noticable in btcQuick's dividend history.

the last dividend might very well be just a wild shot, but maybe btcQuick is gaining traction. only the next few dividends will tell.

Zyxyzxy is ignoring the very pertinent fact that btcQuick has been increasing their advertising expenditures which drives new business in addition to the network effect. I think it is very possible that the recent surge is due to the price dropping, but I think there is considerable underlying growth as well which will continue for the foreseeable future.

even though a surge due to the price drop, it still means they gain new customers and most likely they will be returning since they have purchased a membership...


as for my "fresh" acct, i actually created it a week or so back when BitFunder had login troubles that kept kicking us to the front page after correct user/pass/otpauth...


full disclosure, I have stock in TAT.VIRTUALMINE and have gotten the dividends. I just wanted to share with others what I discovered...




Still, moreover, check out the competition COINBASE, that's how I will be getting my coins from now on with it's INSTANT, truly instant, BTCs, no waiting after you are level 2 user! yay

I use coinbase as well, but they don't allow credit cards, so btcquick has something that coinbase doesn't offer.

Umm coinbase = 7 day wait.

Initially, but at level 2 it is instant.

Anyway I've use btcquick and they were very good.

Phil

You have no clue what a PMB is, you haven't read and studied the description of that asset.
You are going to lose much if you don't.

I lost 2 BTC in that damned PMB. prices just halved the very next day i bought.. yes i wasnt careful with the stock but taught me a damn valuable lesson..

Yeah, after level 2, coinbase is instant and up to 50 BTC.
You are right that they don't accept credit cards, but using credit card to invest in BTC might not be smart unless you have a plan other than waiting for BTC prices to go up. Using the funds in my bank account is easy enough, heck, you can even deposit the money a day or two later since it is a EFT (because ACH is so slow).


As for the TAT.VIRTUALMINE, I bought it after it devalued so much to a point (that I believe/calculated) that it is undervalued, so I jumped on it. Of course there is a risk, however...

Can we cut the talk about TAT.VIRTUALMINE?  The reason I'm here is because I don't WANT to invest in mining shares.  Miners are my competition.  I want to invest in real world companies doing something besides mining.  Also, this thread is about Btcquick, not some other share you've invested in.

If you want to talk about TAT.VIRTUALMINE, could you please start your own thread?

As for btcquick credit card discussion; not everyone is looking to INVEST in bitcoin.  If you can only buy something with bitcoin, and you want it now, you can use a credit card to buy bitcoin and then purchase it.  That way you are paying for something with your credit card indirectly.  I like that btcquick offers this option to people.

sorry... (personally, I have a diversified portfolio and was sharing some info about the competition of btcquick as it has helped me)

sorry, I'll stop talking about it then. I apologize.

Another thing to keep in mind, BitInstant (https://bitinstant.com/) has closed for an indeterminate amount of time. I imagine BTCQuick and its competitors will benefit.

I really like btcQuick  it's  fast and safe!

And the Security is nice as well.  High Sales with nice dividends

We will have a great time with it!

I've used btcquick and they were good, but with coinbase giving instant deposits, once you have reached the limit, is btcquick going to lose business?

What is to stop anyone who has a coinbase account, starting up the same sort of business and selling for less than the 7% margin?

Phil

We accept customer from around the world, coinbase does not, We offer truly instant transactions(payment clears and you get your coin), coinbase varies from "instant" to a couple of hours.
We do not have a 30 day waiting period for our members to purchase bitcoin instantly. We will be adding bank account integration with competitive rates.

Thanks,
-Ascension

Are we going to see any dividends today?  16th looks like the usual payout day. :)

Yes a dividend will be posted tonight. I will post details in our security thread.

Oh don't get me wrong, I like your service. Was very well handled. And within a couple of hours max. Sometimes earlier. I will most likely use you again, but saying that there is possible cheaper competition. And that other people could come in with the Coinbase instant(lets put a ? there) purchase.

Phil

Just a few days ago, I tried out Coinbase's "instant" and it was truly instant (Level 2 Verified member)! I purchased over $3500 worth and received them in my acct instantly, which I then transferred to another bitcoin wallet and was confirmed!

I was surprised it was so instant and at that quantity because I actually didn't have the money in my bank yet, but since it was EFT, I transferred money on the same day to that account that Coinbase will debit from, and two days later, on my bank ledger I could see a EFT credit from my transfer, followed by a EFT debit. It makes me think and worry about how others who can abuse this system and steal from Coinbase (since the limit is a high 50btc instant), but I guess those verified at Level 2 know that their butts are somehow on the line.



This is just FYI about the competition and my first hand experience with them.

I have a BtcQuick acct and have used them before, but for that day, the buy limit was only $250 for me so it didn't work out and the fee would have been enormous.



A question I do have about BtcQuick is if you all are still manually verifying each order? Because it took about a couple of hours each time I have purchased them in the past because of this manual verification as the company was still in the early stages.

Bitcoins orders are automated :D - We are still awaiting an update from Zipmark (should have one on the 26th). We are looking to have different limit structure for bank account transactions, but credit cards will remain the same for a while. We working on integration with miiCard so people can jump to the silver level right away.

excited to hear that it is now automated! Will keep my eye on btcquick!

This needs to be updated to reflect recent dividends and share price.

been following btcQuick for a while and instead of kicking myself in the face for not jumping in earlier I'm doing it now. I like the concept, the fact that you can use credit cards, and the fact that it really IS an alternative to BitInstant...and FINALLY a stock that isn't just about mining. My question is, what happened to all the advertising that we were supposed to see happen this month?

I say reddit ads need to be taken out. the cost isn't that expensive. i think i saw a post on there before and it was VERY cost-effective.

Ascension

Those are great July figures you have just posted on profile/description (Bitfunder)  :)

Can we expect further comment, and/or your thoughts on the near future?

Great results on July, I don't understand why the stock isn't getting more attention.

+1 on the further comments and/or thoughts please.
Do you have a plan on having less "out of stock" issue?

yes, We are addressing this issue. Please see the news release under the OP or on bitfunder.

Thanks,
-Ascension

This stock is one of the better options out there.
Solid profits and a solid service.
I just increased my holdings with the dividends.
BTC sales have been brisk and steady.
Looking forward to the long term!

Looks like YTD sales will cross $1M for August.  :)

Cant wait for the sites 'sell' button to be activated.  ;)

Ascension

Can you state why the 'sell' facility is still not functional on the site?

Also, can you explain why the ratio of paid dividends and sales has somewhat reduced for July?

Thanks

We are still awaiting a response from Zipmark regarding our integration with them for both incoming and outgoing payments. I am supposed to speak with them today.

We increased our marketing budget significantly across multiple platforms such as bitcoinmagizine, dailybitcoins.org, and google advertising (all these were non existent in June). Also the price of coin was up, higher coin prices = less BTC on dividend because our profits are in USD.

Thanks for the info. Is the marketing budget likely to increase, decrease, or stay at current monthly expenditure for the near future? Have you noticed a positive response so far?

Just noticed your update on Bitfunder.....  'August 2013 Sales as of 08-11-2013 6:00 PM - $177,755.06!'
Breaking $0.5M at the end of this month, would be impressive.  :)

So negotiations with Zipmark not going to plan?

Also, do you have any thoughts on this?...... https://forum.litecoin.net/index.php?topic=5226.0

That offering is probably not going to happen as we've not heard a peep from the Litecoin community.

Zipmark is suppose to have something ready for us the 1st week of september. The sell feature with them might come online a bit sooner but we are still awaiting word from them.

Thanks,
-Ascension

For people who like their divs, they are going to love a 54% increase to 0.00000290, on last time. To note, the divs have increased nearly X10 since June.  :o

Who needs depreciating and uncertain mining co's, eh!

Nicely done Ascension.  :)

Thank you! We do have a small amount of shares we would like to sell in order to keep up with this demand... Send me a PM if you are interested in purchasing some and I will post them on bitfunder for you.

As far as news goes: The sell feature should be completed by this weekend from there we just need approval from Zipmark for the integration. Please keep in mind that Zipmark is approving the use of their system to enable us to buy bitcoins from others but they will not have a decision until September regarding the use of Zipmark to allow customers to buy bitcoins from us.

miiCard integration should also be completed this weekend and this is really good as their system allows us to perform AML/KYC. This will also help us automate the membership process.

We have numerous features in the pipeline for development and hopefully with this growth we can hire another developer to focus on some merchant features.

Thanks,
-Ascension

Is this still the same money you were looking to get last time for more advertising? If so why dont you just put aside like 5-10% out of dividends for stuff like this and future growth, would that be breach of contract or ? Iam sure ivestors wouldnt mind with results you are proving with this security. And its seems it would pay it self pretty fast

This stock seems a little weird to me. Despite breathtaking profits blooming, some people are trying to sell tons of shares. I was wondering if the management doesn't mind to disclose

1. How many shares are you holding currently?
2. Have you sold the 50,000 shares you proposed yet?
3. Is there any further share release plan from your part in near future (e.g. 10 weeks)?

I believe this kind of disclosure would greatly help investors to understand what's going on.

Part of problem is that no accounts are being produced.

Couple that with the apparent need to sell shares to raise capital and it suggests that what's being dividended out may be more than profits - i.e. things like advertising costs etc aren't being deducted.

Plus it's unclear to what extent capital is held in USD and hence loses BTC value when BTC rises vs USD.

In short - it's not clear whether profit (in BTC) is actually being made or is an illusion.

1) I am working on getting these caught up...

2) The selling of shares is due to the fact that our current capital on hand is not enough to keep up with the rising demand.

3) We do not hold BTC, except for a small buffer in order to ensure orders are fulfilled as exchange orders lag, We purchase bitcoins at the same time the customer does in order to reduce btcQuick's risk to price volatility.

Thank you for clearing.

To your 1). Look forward to see the details soon. Theoretically, in worst scenario, you could just inflate profits and sell every single share since all 50 million shares are already being issued on BF. So I think a most detailed financial statement, especially with your position included, would greatly enhance investor confidence, and eventually benefit yourself.

To your 2). Raising capital is definitely right thing to do to keep growth. Still, it would make more sense if you disclose how many you already sold, how many do you have, and how many you plan to sell next.

To your 3). True. Its risky to hold either BTC or USD. That's you operational decision. I have no question with that.

Thx and Congrats to your growth.

wow.good job.

Ascension, I suggest that will be part of the shares transferred to BTCT, this will increase the stock liquidity, there will be more abundant funds.
You know BTCT stock price higher than BITFUNDER

The ubiquitous BTCQUICK
 ::)

Nice, clean look. I like it.

Shares to sell high price, must be listed to BTCT

 May revenue was $ 77,350.25
 June revenue was $ 126,250.58
July 13, 2013 @ 21:45MST are $ 131,947.60!!!
 Total sales for the month of July were $ 320,721.23
August 2013 Sales as of 08-14 0:00 PM - $210,548.93!
August 2013 Sales as of 08-20-2013 4:00 PM - $309,548.93! Number of orders so far this month 1,759

So average ~87 orders per day, and consistently rising.

At this rate, BTCQuick will be overtaking Gox soon!   :P

If beyond MTGOX, share price will go to the moon

good news

Now trading over 0.00050 and rising. Still a company valued at around $3 million that is on track to 20% monthly dividends with 20%+ month over month growth. Should probably conservatively be valued at around 5x current share price.

Disclaimer: Obviously I am a share holder and still buying. More a guppy than a whale but this one is just printing money. If August finishes as it started we should see share price over 0.0001 within a week and a lot higher as reports come in weekly.

Agreed Swede. We're just 25 btc from .0006 now!

I am investing as my ASIC mine :)
Long term Bull in Labcoin of course but outside of that project BTCQuick is one of the only really CLEAR possible 10x+ shares out there. 100% monthly growth for several months with increasing dividends, how do you beat that?

I think a lot of people are so used to have to calculate in crazy risk in hardware projects and mining operations with dividends crashing cue to Diff increase etc. that they don't quite realize what the kind of growth that BTCQuick shows is worth.

Edit: Maybe I should have kept my big mouth shut. Stock is taking off and I am not done buying yet :(
Next block of 50k is at 0.0007 and 0.00075 though. Might be worth picking them off as well, if the previous 2 months pattern repeats we will see it passing 0.001 next dividend (unless dividend increases of course... hrm)

0.0001 OR 0.001 ?

My sentiments entirely.

Looking further ahead, we would probably need to see the orders/revenue x10 from current levels, but BTCQuick is really starting to look attractive to existing bitcoin, and non-bitcoin outfits, who want to operate in this space.
Just need that 'sell' button to work now. :)

Totally right about that sell button. It's the reason why I invested in btcQuick along with the div consistent increase.

At the moment, I'm very satisfied with my investment and I can see an exponentially increased satisfaction once selling btc will be possible.

Fat fingered a zero, obviously I meant 0.001, though at the pace people are opening their eyes to the growth, dividend and future potential I don't think that is enough anymore. $20 million would be a "fair" valuation based on $400k sales @ 5% margin for August and I think we are about to see just that.

Would mean around 0.004 for the stock from current 0.0007

The thing a lot of the optimists are forgetting is that this is a USD-denominated security not a BTC-denominated one.  If BTC rises sharply vs USD then this ends up losing value fast (measured in BTC).  That's because:

1.  The assets of the company are held in USD - so drop in BTC value when BTC rises.
2.  The capital needed to maintain same profitability rises when BTC rises - and either more capital has to be raised (by selling more shares) or profits (in BTC) fall (despite remaining same in USD).  Both ways has the impact of reducing dividend/share.

So whilst this security performs very well when BTC/USD rate is fairly stable that will cease to be the case if BTC rises significantly vs USD.  And that reduces its value massively to anyone who believes BTC WILL rise vs USD - as profits have to outstrip the likely growth in price of BTC for it to even be worth considering.

As a means of shorting BTC it's great though - decent income AND a very solid short on BTC (if BTC falls vs USD then the opposite to the above applies - and share value in BTC should go through the roof).

Just be very careful not to make the mistake of believing this to be (in practice) a BTC-denominated investment.  If you buy dollars with BTC your investment does NOT become BTC-denominated.

This is not entirely true for btcquick as this is kinda unique kind a "USD/BTC-denominated" security. You always get your cut from the actual rate and not fixed one that you would have payed at the IPO and converted in into USD. Think about it as this if we would take our cut from BTC the same exact thing as you described would happen to USD-denominated security would happen to us. Because if price of BTC/USD rises naturally the amount of BTC bought/traded would go down.

It has nothing to do with where the cut is taken from, but from which currency capital is held in.  For this security that's USD not BTC (confirmed by the issuer not too many posts back) - BTC are only held briefly when needed to fill an order.  So when the exchange-rate moves, the USD value of capital remains stable and the BTC value changes.

I'm not criticising the decision to do that - in fact there's no way capital COULD be held as BTC (because when a purchaser places an order there's no way to immediately convert their USD into BTC - those funds are locked in USD for a while until received from the payment processor and moved to an exchange).

If BTC were to double against USD then the effect would be to halve capital when measured in BTC (in USD it would be unchanged).  That means that whilst the same trade volume could be supported in USD, only half the volume could be supported in BTC.  Which means profit in BTC would be halved (though would be same in USD).  Trade volume is constrained by capital due to payments from purchasers having a delay imposed on them before they're available for use - and we know volume is already near/at that limit.

But surely, increased revenues from new users, which is what we are seeing, negates/off sets a possible rise in BTC. Together with the option to sell, means even more revenue. I get the conversion conundrum.....RentalStarter is another good example, but what am i over looking here, if the goal is to keep increasing revenues/dividends?....which is being achieved in style, btw.

Unfortunately not the case here.  Revenue is limited by capital - increasing revenue means capital has to increase (either by retaining profits to expand or by issuing new shares).

If revenue wasn't constrained by capital then a case could be made that the security wasn't USD-denominated (as although capital would still drop that wouldn't impact revenue).  But that's not the case here - as revenue is very directly limited by capital (because of the delay in receiving payments in a usable form).  And so a rise in BTC/USD rate doesn't just reduce capital (measured in BTC) but also reduces the amount of revenue that can be supported (again measured in BTC) and so the profits (in BTC).  All of those things that reduce when measured in BTC stay the same when measured in USD - which is as clear a demonstration as you can get that the security is, in practice, USD-denominated.

If BTC rises significantly vs USD what you'll see happen is one of two things - either:

Profits will fall.
or
More shares will have to sold to get capital (in BTC) back to where it was - allowing profits to be the same but diluting them when measured in BTC/share terms.

If accounts were being produced then this would be pretty obvious (and I could explain it with actual numbers) - but they aren't, so it isn't.

This is a false premise "And so a rise in BTC/USD rate doesn't just reduce capital (measured in BTC) but also reduces the amount of revenue that can be supported (again measured in BTC) and so the profits (in BTC)." You are assuming that as a business we sell X BTC a day, when in fact if BTC value goes up we still sell around our daily USD average and the # of total BTC sold actually goes down. Also the increase in BTC price does not reduce revenue or capital because a customer is limited to the amount of USD they have on hand and in turn will buy the same amount in USD whether the price is up or down. The reason for us holding USD is to reduce the risk of btcQuick to price volatility.

Theory of running a business and actually running one are two different things.

Then its an issue of how you manage the capital, because as you rightly say, capital cannot be held as BTC anyway.

I have no idea how Acsension manages and moves funds around, but im assuming held capital can be $-averaged or hedged in some way??

Again, i understand the valid explanation to a large degree, but when we have seen BTC crash, and then double again, against BTCQuick's consistent figures, we are not seeing the above being played out.

Would/could the 'sell' facility negate this issue?  

With as high turnaround as BTCQuick is showing (inventory literally being sold as it comes in) I really don't see a rise/drop in BTC affecting the overall business model at all. Sure there might be days when a quick rise or drop offsets profit but over time this should even out nicely and not really affect the business.

Best explanation right there. "One does not simply build a million dollar business without knowing what one talks about" :)

Oh, i see whats happened here now.  ::)

Academic theorizing vs Real world application.

Being a practical man myself, im going with the latter.

 

It's not that at all. It's really just basic mathematics.


I believe that is exactly what Deprived is pointing out. When the price of BTC goes up, you sell LESS BTC, even if your USD sales are the same or growing.

Your profits may look the same (or better) in USD, but dividends (shareholder portion of profits) are paid out in BTC, so you will end up paying out less BTC to shareholders.

In his post, Ascension seems to be looking at this only from the standpoint of profits in USD, but shareholders only care about the amount of profit once it's converted back to BTC and paid out. Therefore, as with all businesses earning USD and paying dividends in BTC, shareholders must weigh the potential returns against simply holding BTC.

Once everyone is on board with this concept, it might be worthwhile to discuss possible ways to protect shareholders by hedging against the currency risk.

Yes - a rise in price won't reduce profit in USD, but it will in BTC.

Ascension proves my point when he says if BTC value rises they still sell same USD average - meaning BTC sales have dropped.  If BTC price doubles then USD value of sales would need to double to keep BTC profits at same level.  And that's not possible when sales are constrained by capital and the capital is in USD (with the exception noted in next paragraph).

The exception is where capital is not already being fully utilised - in that situation a rise doesn't necessarily reduce BTC profits.  That was likely the case during the previous bubble/crash of BTC.  But we know it's no longer the case as Ascension has mentioned having to sell more shares to increase capital - which wouldn't make sense if there was already sufficient capital for a significant expansion in sales.

Pretty sad if the issuer doesn't even realise that the asset is actually USD denominated in practice - guess it'll take BTC rising and divdends falling for him to work out that if BTC rises vs USD then the same amount of USD becomes worth less BTC (which is all you actually need to know to realise that any asset whose revenue is constrained by capital and where capital is in USD MUST be USD-denominated in practice).

So you say Ascension proves your point, and then you end by saying he doesn't realise your point. Over-explanatory, inconsistent, and childish. Nice.  :(

Whatever, let's see what profit has to say :p Time will tell.

Doesn't matter, he's still got a point.

Rising BTC + Same sales volume in USD = Same dividends in USD but lower dividends in BTC.

Not saying that btcQuick will pay lower dividends anytime soon, but it's something to be aware of.

....and those dividends will increase in value because BTC will be worth more.  :)

Point is that if btc rises a lot vs usd then holding the shares will perform worse than just holding btc.  Thats why this and all other usd denominated investments have to be considered as a short on btc.  That doesnt mean theyre bad investments just that investors need to be aware that theyre betting against btc by investing in a manner that will perform worse than just holding btc if btc rises vs usd faster thsn the business grows profits.

Apologies for miissing apostrophes am on phone and too lazy to swap to symbols.

We get it. Thanks.

LOL, OK you've obviously made up your mind, but I would urge you to run some numbers. Consider everything! :-)

Anyway, none of this detracts from the fact that these guys have a great business and seem to have executed really well. Personally, I'm impressed with their growth and think there is a big opportunity to pick up a lot more market share. So, considering all of that potential, there's no reason to gloss over risks that might not be apparent to everyone on first glance.

If you look back in the main thread youll find I raised this issue back when the security launched.  If 6 months later he still hasnt understood it then maybe my position is a bit more undrstandable.

Or maybe he does understand it and just doesnt want to confirm to investors that if btc rises a lot vs usd theyll end up a lot worse off than if they just held btc.

Yeah this is one of the better investments to use as a hedge against btc falling or staying in same price area.

Dont really understand what the agenda is Deprived. Its getting boring now.

Accept my apologies then.  It must be frustrating when you cant understand things and so have to waste time worrying about motives rather than just accepting free education.

You apologise, and then attempt to belittle. Bit childish don't you think?

Wait, you need to do that because of my lack of insight, intellect, and experience, right? Your over-consuming agenda has discombobulated your judgement/s, me ole fruit-cake.  ;)

Anyway, no more from me.

I'm really enjoying what I've seen from btcQuick so far, great progress and success. It'll be interesting to see what next quarter brings.

http://neopay.co.uk/develop/
Authorisations, licences and registrations

First time I go to BTCJam I find this:

https://btcjam.com/listings/6377 (https://btcjam.com/listings/6377)

Average daily sales are at $17,000.

July hit ~$320,000. A month with $17,000 daily average is $510,000. Or if you prefer, a nearly 60% increase!

BTCJam confuses me. So, they will pay 2.3% per month, or 2.3% for the whole 180 days?

Another sales update:       'August 2013 Sales as of 08-26-2013 2:00 PM - $404,839.67! Number of orders so far this month 2,336'

So, August sales will come in ~+30% on July.  :o

As Peter Vessenes says "..........dive right in" !

It's 27th now. What is feedback from zipmark?

gogo 500k in one month !

+1

We are still waiting on a response from Zipmark. The miiCard integration is complete and members can now automatically upgrade to silver if their miiCard account is verified.

Been waiting for my coins to get through weexchange since yesterday :/

Any thoughts on listing on BTC Trading Corp. as well? I suppose more shares would have to be issued...ahh nevermind. Ill keep waiting.

$500K this month would be awesome, I think we're running out of time though. Next month I'd be impressed with another increase up to $750k.

Keep it up Ascension , I hope everything is running smooth for you guys. I know you've still got hurdles to overcome.

Can you define "waiting"?
WeExchange only requires 6 confirmations when you deposit.
Unless you sent with no fee and there is a huge network backlog should take about an hour.

-Ukyo

nice! any consideration on some r/bitcoin reddit ads?

Is selling live? I'm able to login and go to what appears to be a live sell page. 

Those are our re-targeting ads :D - Reddit seems to be rather expensive compared to other advertising methods.

Whats going on with the price?  ???

Just not enough buying interest at the moment, for the people wanting to lock in some profits.
We will be seeing August revenue/divs in a few days, so hopefully that will attract new/more interest. Also, the 'sell' button issue, can hopefully be resolved by Ascension soon.

haven't checked this in a while, over $400,000 in sales in august?! this is insanely great for a start-up. I'm glad to be a shareholder right now :)

and this might be a little off-topic, but in the beginning of the latest episode of LTB they mention the possibility of exchanges working with indian reservations to avoid legal issues: http://letstalkbitcoin.com/e37-meeting-mastercoin/#.UiLYprx3uew

http://www.theverge.com/2013/8/30/4675908/internet-archive-credit-union-dumps-bitcoin-accounts-citing-regulatory-issues

Is this the credit union you are using? Guess this is why someone is dumping...

Obviously not, someone who I referred btcquick to just bought some coins without the problem

This week there should be a dividend payment - is it usually on monday or when?

Should be reporting today or tomorrow.

We will be releasing final numbers tomorrow and the dividend payment should be posted on Wednesday due to bank holiday delays.

The sell feature is live on the site but I still have it in test mode. You all can test it out and let me know what you think.

Do you keep the profit in BTC or in USD during the month?

Wooohooo !

Just wondering, if a charge back does make it through, who will cover the funds you or the btc seller?

If a customer sells us bitcoins they only way a chargeback would happen is if btcQuick issued a chargeback. This is not a peer to peer selling service...

Also we are using Zipmark to issue payments to U.S. customers.

This was posted last page but no answer was given -
https://internetcreditunion.org/uncategorized/rocky-road-is-still-one-of-my-favorite-flavors/ wasn't this the bank used by BTCQuick?

if there's a way to sell the bitcoin and then transfer the money directly to my debit card, i would definitely use the selling service :)

5-15btc awaits!

No, We have a few inquires into them to open an account. Tradehill was using IAFCU as a way to hold balances for their customers accounts which poses issues for regulators vs. just a bitcoin business account. We use a locally owned bank that isnt attached to the typical large/corporate bank bullshit.

For now the sell bitcoin feature will only work for US bank accounts. Funding debit cards directly is not something that we have in the pipeline. International customers would need to use wire transfers as the method of payment(currently not available).

i don't think euro customers have a problem getting coins anyway :/

this being said, keep advertising btcquick. you have the golden opportunity of being able to fill the gap bitinstant left behind.

Currently USD, but this month we will be pulling profit in BTC on a daily basis

Btcquick is running on the successful road. I am waiting for the price up to 0.02 per share soon. Good news for all investors, it's not too late to buy its shares.

Selling shares or call options in BtCquick right now is tantamount to financial suicide. With sell feature opening soon and dividends DOUBLING every 30 days (more, but who's got time to do actual math) while sales is increasing exponentially I expect shares to correct to a company valuation over $15-$20 million in the next 3-5 months (conservatively. If an actual seed investment were to look at the growth potential for a profitable business in a growing niche with the numbers that BtCquick is showing I would expect $50+ million valuation).

Current value is around (below) $4 million.

It will be really interesting to watch what happens when sell future is in full speed ON, BTCquick just might finally fulfill the demand and grow even faster

Considering the fact that access to BTC seems to be a limiting factor for faster growth I expect the sale feature to increase growth and profit by "an unknown but almost scary awesome" factor.

^ Yes, the sell feature is a huge milestone for them, and they are still, to my knowledge, the only place to reliably purchase BTC with a credit card. There's a lot of market share for the taking.

Quick, reliable BTC purchases with multiple means of payment in the current scorching hot BTC market. Yep

I talk to Ascension on a fairly regular basis. He has been nothing but upstanding and on top of things every time we speak. :)

+1 btcQuick

One of the main reasons that I am long in BTCquick is ascension and his professional approach to the project.

Lot's of buying going on. BTCquick is the most active issue on the exchange over the past 24hrs. I don't think I've seen that before. :)

Wrong!

In Euro region is huge request on such services. Potential customers is 330 milions people. Europe starts to discover Bitcoin. Make such quick opportunity to buy/sell bitcoins in Europe and the profits will be unimaginable high!;)

Some banks in where I live support near real time fund transfer to overseas VISA cards with very low fees. Ascension, Have you tried with your local bank? I believe that will attract a lot of oversea users.

Just picked up 7500 shares.  I like what I see.

<<"Wrong!
In Euro region is huge request on such services. Potential customers is 330 milions people. Europe starts to discover Bitcoin. Make such quick opportunity to buy/sell bitcoins in Europe and the profits will be unimaginable high!;)">>

In Europe,Already, we know BTC world, we have many  BTC exchange sites(I prefer use mtgox), we can buy BTC trought Credit Cards with Btcquick (me,for speed buy of btcquick shares), Several BTC mining  Asic machines companies are etablished in Europe. And the icing on the cake , we speak even english (Ask Uk).

Dividends coming soon :) Watch out if you are trying trade, this time it's 'to the moon' :)

A few questions:

a) Have you considered changing the base price to BitStamp instead of Mt. Gox?
b) What about Google Checkout fees in addition to the fees you charge? Who pays them?

I kick myself everyday for selling at .00011 after the last ipo. I won't be making that mistake again.

Obviously it's more profitable to sell at MtGox prices if he can acquire at Bitstamp/BTC-E Prices... why would he change that before the sell Bitcoin function is in full effect and can offset the sales?

Obviously it's more profitable to sell at higher price, yes, but they could instead show the "base" price as the bitstamp one and increase their fees. No sense in hiding the base price, if the mtgox one doesn't reflect it (not claiming that it doesnt).

Anyone know regarding the google checkout fees?

1.9% + $0.30 per transaction.

Very nice. How about some info on sales, dividend, growth and BTC-sales release plans?

This is true. It is more profitable to sell based on the average price. Mt.Gox and Bitstamp are the two major exchanges and that is why we decided to use an average. In the future we may need to switch to bitstamp pricing for competition reasons. In regards to the sell feature we will be offering to buy the bitcoins back at the bitstamp price and we are not going to charge a fee for this if you are using a US bank account via Zipmark.

The merchant always pays the fees.

Dividend payment is waiting to be confirmed by the network. Sales data and news will be posted shortly.

thanks,
-Ascension

Following.

"In regards to the sell feature we will be offering to buy the bitcoins back at the bitstamp price and we are not going to charge a fee for this if you are using a US bank account via Zipmark."

Went to the Zipmark website and it seems to only be available as an iPhone/iPad app.  Can that possibly be the case?!?!

From the website:

Dividend payment 0.00000330 per share , this is just getting better and better!!

Im just glad I bought a whole bunch at ~ 0.0001  ;D

When everyone wakes up and sees the dividend, and we see sales increase and get some projections + the 'sell BTC' goes live we should see quite a jump from current 0.00067 (I am predicting 4x-6x current price within 3-4 months. Should trade around 0.0015 just based on the latest 2 dividends)

BTCQuick has great long term potential! with more and more people adopting BTC for not only speculation, we should see this company thrive.

I like securities that aren't based on mining, this is a service that will always be needed

Have not seen the update yet. Realized now is the sleeping time in states. :)

Yep, like this investment, it make more and more room in my portfolio.

Do you have numbers about the exchange? How many and so on. Just for curiosity.

I believe there will be a 'company update' posted today as well. I'm still buying :)

Nice results... dividends up almost 100% month over month. I'm surprised the price hasn't moved more significantly, but I'm not complaining, I'm adding a bid wall. :)

Someone should get a PT going on BTCT for more liquidity.

Considering the Div would have been a lot higher had the BTC price not spiked right beforehand... I'm excited to see what happens this month with lower BTC price and Sell feature :)

Good result this month. So far glad I invested in btcquick.

I'm sticking with my predictions of 4-6x current share value in 2-5 months. With current growth, while holding profitability its just a matter of time before BTCQuick is seriously re-valued towards a $18-$25 million company valuation (from current sub $4 million).

I'm curious about the legal issues with handling money in USA - is btcQuick already registred (or regulated or whatever, I'm not familiar with the rules in US) or are they just under the radar for now?

TheSwede, I agree with you. Im in for 240,000 shares and buying more. I actually bought a lot at .00005. Right now BTCQuick trades for 8 times run rate profit using 12 times August dividends. 

It should trade at 20X dividends at least given the exponential growth. 

My guess is that Ascension is waiting for Zipmark integration to be finalized to release more good news to shareholders on top on monthly revenue information. Could be wrong.

This is a concern of mine as well. Does btcquick have a legal team?

What i am wondering even more about is the fact, that there is relative little discussion
about the BTCQuick shares here.

I mean Labcoin for example and the other mining stocks have so much more talk going
on without paying dividents, let alone showing any finished product (no offense Swede ;) )

I guess when this is more widely recognized, the share price will go exponential.

-237-

Yes we do. Marco Santori, he is the Chairman of the Bitcoin Foundation’s Regulatory Affairs Committee.

Now THAT is legal representation :)

Thank you Ascension. This looks to be one of the best offerings available right now, I am in.

Let's count that as a blessing at this point. :)

Ascension

August sales figures/Bitfunder update?

Update/News will be posted later been really busy the last couple of days.

August sales were $516,333.23

HALF A MILLY ! good job, next milestone ONE MIRRRION

Thanks, and very well done.  :)

https://docs.google.com/spreadsheet/oimg?key=0AmSWZWkGJ1V3dG9Valo5dERxejk5V0N0MzNYRjl5ZHc&oid=1&zx=20r3cvucfmyt

Dividend graph update.

When you convert USD/BTC for each period as I do, things looking good!

# of orders way up this period as well.

Love this stock, you guys are doing a great job. Keep it up.

I'm very happy I got in to this stock.
Grabbing more shares whenever I can.

I've offered Ascension my services redesigning the site if he was interested.  But no response as of yet.
Oh well, would have liked to work on this project.

:)

Graph?

^ It's a Google document so you have to be logged into a Google account to view it.

Even without more investor attention just following dividend/growth chart we should have share price around 2x current share price within 2 weeks. Feels good to be diversified into BTCquick..

Even though I only hold 300 or so out of the 5 million shares I'm happy about getting in that stock...

I'm guessing the company is doing pretty well!

This company has so much room to grow, and on top of that, the stock should benefit over the next few months as mining ROI decreases and some of those investors look for a new place to park their BTC.

I will prob go as far as saying that the only reason that the shares are so far under 0.001 is the massive growth of profit and revenue has allowed a lot of very early investors to sell off at very nice profits. Once the early owners have taken home some profit, we should see a real valuation upgrade. If you look at he charts its fairly apparent that the valuation is moving in "steps" where old investors take home some profit, new owners buy and then it keeps moving up. Imho, a very good sign for continued value increase over time.

Boooo, out of BTC right now when I want to buy more shares lol.

I've been buying more and more of these shares whenever I can by far the largest portion of my portfolio is with btcquick - hoping to see dividends hit 400 satoshi's next payment now profits are being stored in bitcoin not USD

I see more and more advertisements for BTCQuick on the net now.

Nice move, and it will surely be helpful for the overall growth of BTCQuick

-237-

Alexa Rank:

March: 1.5 million
April 1.17 million
May: 660k
July: 600k
August: 500k
Sept: 350k
October: ??

I don't see a link.

I kind of like to see more early investors to bring the price down to 0.0004 (so I can pick up more cheap shares).

It's a little overpriced right now compare to the dividend/share price ratio of asicminer.

Where do you get that "profits are stored in BTC"?
Accesion used to say to only keep small amount of BTC and mostly in USD.

Just back a few pages: https://bitcointalk.org/index.php?topic=246228.msg3071984#msg3071984

That's why dividends are a horrible way to value fast growing companies. BTCquikc grows at a pace of over 50% a month! ASICMINER is currently a standstill in growth (at best). Comparing the two is completely pointless.

Anyone know what's up with Coinbase?

I was able to buy 10 btc instantly yeseterday, and just 1 today!

This is a huge growth driver for BTCQuick, at least :)

^ It looks like Coinbase changed their instant purchase limit to 10BTC per week. I'm only speculating, but they probably had one too many dishonored ACH payments and decided that they didn't want to staff a collections department.

It's definitely good news for BTCQuick, as "50 coin instant purchases" is a powerful USP with which to compete.

Thanks Pale!

Yes it is very good news. Still trying to tie up a few ends before I do a news release :D

It's hard to make money when you don't have any BTC!  :P

Its hard to sell btc when you have to deal with the traditional banking system :P

 :-[ Too much demand is an alright problem to have I guess.

I can't decide which of these statements is more axiomatic. :)

Nice word choice. I had to look it up.

What's an ACH payment?

Automated Clearing House.  It means a bank transfer, basically.

Can anyone review the new sell feature, that's used it?

I'm just waiting for the first sept update from ascention :)
If it's anything like July/Aug 50% won't be enough when btcquick starts moving.

Would be good to get a sense of how the sell function has been working, after 2 weeks or so.

Also it will be good to update some news in 1st post in this thread. And update chart. On Bitfunder, news should also appear in future.

All quiet on the western front.

Any ideas for first half of month sales?

There should be a dividend today.
Ascension, please post stats for August (and for the first half of September).

I guess that the dividend could be around 400 satoshis because profit is being kept in BTC instead of USD since last dividend.

I'm hoping for 400 satoshis too, would think that would lead to a good rise in share price :)

Maybe even better ;)

Div?

News release and dividend payment will be completed later this evening around 7:00pm MST.

Ascension,

Thanks for the update. 

Any plan in the future to convert these "profit rights" (of which I own 280k) into real shares of a corporation?

How do you think about minority shareholders in the Bitcoin world?

Seems the update and div are delayed?

45 min

btcQuick - News Update 09-17-2013

Another exciting month for bitcoin and for btcQuick.
Sales for 09-01-2013 to 09-15-2013 were $ 251,062.96
We had a total of 1459 orders during this period.
We added 235 Bronze, 37 Bronze+ and 12 Silver level customers. This brings our total number of verified members to 2,544. If we take the revenue divided by the number of verified users we get an average of $ 197.37 per customer per month.

We are currently using a different pricing model that is very close the the bitstamp pricing and we seem to be getting a good response from our customers.

We have also launched instant verification methods which allow new members to get verified without having to wait manual review. Instant verification can be done two ways. The first is by completing verification questions. The second method is by linking a verified miiCard account. Both of these verification methods are free. Currently the site does not promote these as the main way to get verified but we are working on a new membership page that will incorporate these new features.

We are currently growing at a good pace and are trying to scale our growth with our service. We are looking to hire a full time developer around the first of the year along with a dedicated customer service rep.

I finally received a response from ZipMark and at this time they are not going to allow any bitcoin merchants to use their service as a method of payment to purchase bitcoins. We are still working with them to integrate payments for customers that decide to sell btcQuick bitcoins.

The Dividend for this period will be 147 BTC. The reason for the decrease is we had some chargebacks that we were unable to win. We are still maintaining a very low chargeback ratio of 0.175%. We also had to pay setup fees to use the Knowledge Based Authentication Questions. We are moving away from the manual verifications and pushing to have everyone use the automated methods as this will reduce our risk and align us for regulatory compliance.

New Features Launched:

• Send directly to your bit coin address!
• Instant membership verification
• Knowledge Based Authentication
• miiCard Integration

Future Features/Goals:

• Affiliate Program
• Buy/Sell BTC with Bank Account via Zipmark
• Miner Bitcoin Address that auto converts to USD.
• Merchant Services/API
• Re-designed Site for better user experience

Just waiting for the blockchain to confirm the deposit and the Div will be posted

this!

what about the 7.5% fee then? will it be reduce as well?

All in all amazing. Blows my mind that you have time to not only run a massively growing business  it also implement new features and plan for expansion.

Auto verification is HUGE not to mention merchant feature, API and direct converting mining address.

Brilliant news all around!

Instant verification sounds great especially if it improves the security/legality/chargebacks of the buisness.

We are currently going to keep the base 7.5% fee but now its really easy to get to Silver level (via miiCard upgrade) which takes the fee down to 6.5%.

btcQuick paid dividend of 294 satoshis - that is 12.37% p.a. (based on price 0.00057).
That's amazing for a less than a year old startup that grows rapidly each month.

Also I think we could expect more profit when BTC/USD rate will be moving - if the rate goes down then the dividend in BTC will be bigger for the same USD volume, if the rate goes up there could be more people interested in buying BTC (just like in the second half of August).
Any thoughts about this?

Great results!

Don't forget to update / remove the status text on Bitfunder, which still shows:

"Status: August 2013 Sales as of 08-26-2013 2:00 PM - $404,839.67! Number of orders so far this month 2,336"

seems good! bitstamp rate + silver level with miicard, might entice me buying some more btc  :)

Either/or, are not particularly accurate or consistent in my experience. Better to read the trade tape/transaction record instead.

I haven't compared the charts but there's going to be a delay in the data on coinflow because Bitfunder still doesn't have a proper API. Coinflow, IIRC, gets its Bitunder data from the #bitcoin-assets assbot.

Edit: Now that I look at it, I don't think coinflow is returning complete information for several stocks. For instance, looking at Labcoin (http://coinflow.co/chart/LABCOIN), there seems to be quite a bit of volume missing from the last 24 hours.

Also, you might infer that the developer is having financial problems (https://bitcointalk.org/index.php?topic=250120.msg3147129#msg3147129) from a recent post in the coinflow thread, which perhaps explains why the site hasn't been fixed.

Any chance of giving shareholders immediate top VIP tier accounts? At bitstsamp +3-4% I would be a lot more inclined to use the service but atm with the amount of coins I buy the vig is just too high.

I expressed this in the asicminer discussion reg. Blade sales early on, however I changed my mind as I became a somewhat larger share holder as the fees drive profit and expansion/share price and I don't mind paying "myself" money.

Called it!

I agree there should be a way to "earn" an even lower vig. Might be tough to track by liquid shares as those fluctuate.
Obviously the main issue here is preventing chargebacks/trust.
The VIP system is excellent but getting down another 1-2% could go a long way for sales.

That'll be really cool if this could happen :D

Can you explain the circumstances that caused this? Why was your stored info insufficient to reverse the chargeback?

I doubt that will happen as long is BitFunder is around.
But if it goes away, why not?

+1

I will not be disclosing why. That is like giving away all the questions for a test. Just know that we are working very hard to collect sufficient data to prevent fraud. There is no guide on how to prevent fraud related to bitcoin and we are learning as we go.

Haha, fair enough. I had to try anyway :)

Ascension,

As you know BTCT is closing next month.

What would happen to our btcquick shares if bitfunder shuts down?

What protections do we have?

also in light of recent events, do you still believe that you are operating entirely within the appropriate laws?

BitFunder has a public asset list showing ownership of shares for each asset. Just like BTCT.co & LitecoinGlobal initiated about a week before the shutdown. Each issuer has access to these so proof of ownership is easy to verify. I can't speak to this asset's plan if what you mentioned to BF happens. But this is how we as shareholders are protected.

this. Important question.

But in my opinion, running an money exchange is safer than a stock market. Worst scenario may be just change public share to direct share, so there's nothing related to socket market.

They never have been. Profit sharing is a pretty name for an equity-based security. They should be registered with the SEC or be turning down US investors (which they have no way of doing on BitFunder). I'm honestly surprised they did this, especially because they claim Marco Santori is their lawyer; I doubt he would sign off on this.

How about convert all shares to direct shares so that the investors become private shareholders?

They would still have to audit the investors and make sure they are not US citizens, among other things (see:  regulation s - category 3 (http://legalnews.arnstein.com/wp-content/uploads/S-Offerings-Booklet_web.pdf)).

see that Ascension, some of us don't mind sharing our competitive edges. it's all about the love ;)

Still a little bit confused. Does that mean Americans cannot privately invest on a company as a shareholder without approval from SEC?

As it stands, if you want to provide equity-based investments in the U.S. you can have no more than 35 unaccredited investors. An accreddited investor must have >$1m net worth and/or makes >$200K/year. The company must also comply with the entirety of the Securities Act of 1933. So really the only crowd sourced equity you can do in the US (as of yesterday) is to accredited investors (see: https://wefunder.com/ or https://angel.co/public).

With Regulation S you can be a US-based company and just turn down US investors (as I linked earlier) and avoid all the hassle of the SEC.

Thanks a lot for your detailed explanation.

Then how about pass through? So that means to the company, there's only less than 35 investors. The investors then pass through the dividend to others, which has no relation with the company. The pass through manager (non-American) then put these PT shares on an exchange, and theoretically this is just  the investor's personal behavior, which has nothing to do with the company. Is this legal (at least the company wise)?

I don't want to derail this thread any further, as we already know btquick is breaking the law. But to answer your question, unfortunately no. The SEC will basically try and buy your shares. If they can--through any means--you are in trouble.

If you want to discuss the SEC and American investors further, start a thread it'd be my pleasure to join in. I can tell you now anything to do with US unaccredited investors is gonna be a no, there are no major loopholes unfortunately (at least that I am aware of). I've been doing quite a bit of research would be happy to answer any questions.

everytime i read about SEC and similar regulations, I am quite happy, that I live in Europe... Still, Europe is on the same way like US, just 2-3 years later

monthly sales as of 26/09 are $455,000 - should be a record breaking dividend in a few days time 380 satoshis is my guess

The entire "we won't say what's going on but we're working very hard" hasn't turned out well for anyone. What test, from whom do you surmise you need to keep this information?


That whole working without a guide issue? It gives you an opportunity to do something potentially very valuable for bitcoin: document your experience, and do it well.

Any chance of a nice P&L again?

https://docs.google.com/spreadsheet/pub?key=0AoYY1V1t8ncndFBwV04zZzBKRWFqbFFua2JsT3Jaemc&single=true&gid=2&output=html

expecting a strong dividend today - can we see the final September numbers it should have been a record breaking month and this should be a record breaking dividend also - somewhere close to 400 satoshi I think

I'd like to see some sort of breakdown, so as to understand the flows of funds and what that means for the business, going forward.

Bit more transparency with these issues, is in order, me thinks.

The dividend is surprising low, 246 satoshis only. Although the sales are significantly more than last month, the dividend is lower. It's better if the a brief balance sheet could be shown to the public.

The reason for this lower dividend is our new bitcoin price (The move from Mt.Gox closer to bitstamp the last dividend was mostly sales with the old price) along with increased cost of business. We are having to work with a lawyer now to ensure the continuation of business and compliance, along with new verifications methods that cost more. We are also working on becoming PCI compliant for a number of reasons. All of this costs money and is essential to growing the company and scaling with the increasing demand.

Those sound like extremely valid and forthright responses/reactions to expanding both the business and longevity of btcQuick. Is it yet possible to divulge more information regarding what is going on behind the scenes? Do you plan to continue using a portion of profits on certain aspects of the business as well as issuing a financial statement of sorts?

Yes, I do plan on creating another short news summary.

We have no idea what the increased price of business is, or how that relates to day to day business, because you refuse to publish any details.

Just feel you could do more in regards to transparency. 

Check out the CoinDesk Article http://www.coindesk.com/miicard-aims-cut-time-takes-buy-bitcoins/

Check out the un-updated share issue.... https://bitfunder.com/asset/btcQuick

It is up to date

What share issue is this?

Ascension,

Thanks for the updates - I think you're going in the right direction management-wise.

For investor relations purposes, it would be nice to get another *rough* P/L or monthly summary, or at least an income # so we know how much is going out for expenses.

As mentioned, transparency is key for any asset (pretty easy in the world of bitcoin).

This is in the works, I spent a great deal of time getting everything imported and categorized (www.waveapps.com if anyone needs some KA software)

No its not. ...'profile'-'description' looks as though you gave up in July to anyone reading it, and feels like you just cant be arsed anymore. Just saying.

Acsennsion as shareholder, speaking on behalf of myself and others, i would really like an update as to what is BTCQuick move to overcome this crisis with bitfunder

How about you call him and let him know what is up and not spam forum with useless things like these ? He probably isnt online or in office at all right now

btcQuick share price getting annihilated right now. 

Dude, don't spam.

Wow, who panic sold 250k+ shares?

your right, it was my bad for spamming, would like an update though :-\

Due to these unfortunate developments, I'm offering shares for sale via transfer or Bitfunder in groups of 25k or more. I don't like leaving open orders on there long-term.

PM me offers or for offers from me. Great chance to get a steal.

Honestly, long term, BTCQuick has some great options as they are handling things very legitimately - I bet Ascension's next stop is NYSE or at least the Pink Sheets!

Another suggestion - Transfer asset to 796 or Havelock, or even Picostocks/Cryptostocks.

Hey Ascension,

Thank you for increasing the shown purchaseable bitcoin to 100. It looks like you're doing well! I like seeing website improvements every time I log in. Also, purchase time on my last order was insane!!! Keep up the good work and hopefully people realize how undervalued the stock is.

Cheers

I am aware of this... We are just as surprised as you all are and hope you can understand this will take time to resolve. I will do my best to keep all of you updated.

Updated with what?  There isn't much you can do, markets react to new how they want to react.

You take paypal? I'm short on BTC

I'm considering holding them until the price rises a bit. But i have 150k+ potentially for sale.

Very jealous of the firesale going on....

Looks like almost 1.5 MM has been tanked off. Probably roughly another  8.5 MM to go this month from US investors?

For those "unverified" users, is it possible for you to deposit divs directly to the btc address of btcquick shareholders? If that's OK, I think the current share price is a good deal.

So i just saw

 $132,824.03! Number of orders so far this month 736 - as of yesterday

At this rate BTCQUICK should do $400,000 in sales by the end of the month,

people are over reacting with the biutfunder news, the share price shouldn;t be this low

I like BTCquick, used there service and like there business model. Sales are growing as is there customer base.
These are all good things! There are very few companies on bitfunder that have this strong a product.

BTCquick could do a better job reporting details but in all there is no reason financially for this low stock price.

Move this asset as far away from bitfunder as possible, there are other options out there.
 

Good to hear some positive news regarding ANY bitcoin security, thanks for the update on the sales this month. 

the date is more or less the same as september

How about giving option to shareholders (especially US citizens) to turn the shares into direct shares?
I think the low price is more or less due to the fact US shareholders can no longer hold their share via bitfunder. Turning the shares into direct shares will be able to keep US shareholders (long term investment ones)

I know that may be difficult, but If its possible, I would really like that option. I am trying to get all my coins out of BitFunder but I do not want to sell my BtcQuick shares.

If you're in the US you have until Nov. 1. So plenty of time for things to get resolved.

Yea, to be able to execute trades.  Prices are going to bottom out WAY before that.

Nice suggestion!

Congrats! Good Article.
http://www.coindesk.com/bitcoin-sales-service-btcquick-hits-nearly-2m-sales/ (http://www.coindesk.com/bitcoin-sales-service-btcquick-hits-nearly-2m-sales/)

With share price so low, and an expected dividend that's very nice, it'd be a steal right now.  Especially with the good press.

Eagerly waiting for news of direct shares or migration or something   :P

maybe i missed the news but is bitfunder no longer available to people in the US?

Yes, it will be unavailable to U.S. residents on Nov 1. Check the Bitfunder homepage, and this discussion: https://bitcointalk.org/index.php?topic=308026.0

A proposal to help US investors of this stock:

As we know, this stock, unlike most others, has sound foundation and solid dividend. If not for the BF issue, the share price will be well above 0.0003. US investors, however, have to sell this stock at current market price, which is pretty unfair if they believe the price will rise after everything calms down. They could at least lose much less if they could stay in the market for two to three months.

So how about instead of selling shares at current market price, US investors (or other investors don't want to submit documents) sell a contract to verified investors. By selling the contract, he could benefit a higher return if the share price recovers in certain period.

The contract includes the following elements (amount, current price, target price, expire date, commission). Then
1) The buyer sends BTC (amount * target price - commission) to an escrow service.
2) The seller transfers the shares to the buyer.
3) Once buyer receives the shares, she/he releases (amount * current price) in the escrow to the seller.
4) If the market price exceeds (strictly larger than) the target price any time before the expire date, the rest in escrow will be released to the seller.
5) Otherwise, the rest in the escrow will be returned back to the buyer on the expire date.

This proposal has various advantage.
1) It's like an option escrowed out of the stock market, so once the contract is sold, the seller can safely leave the BF.
2) The seller does not need to trust the buyer, vice versa.
3) This is a one-time contract without future trading so it is much easier than a private proxy service, which is too complex for an escrow service.
4) Since this is a one-to-one one-time contract, there should be much less legal issues compared with a proxy service.

Any thoughts? If you are US investors (or other investors don't want to stay in BF), are you interested in this contract?

For example, personally I can accept buying a contract as (60000, 0.0001, 0.00025, Jan 10 2014, 0.9BTC) if I pass the verification of Weexchange.  Target price can be any value between 0.0002 to 0.0004 as long as the commission = 10% * amount * (target price - current price).

can we transfer bf shares to btcquick account on BF and exchange those for directshares with btcquick until on another exchange?

How  do you know the numbers?

see the trade page of BitQuick in BitFunder, there's an update.

only just discovered this investment never really interested in bitfunder till now, looks great.  in Australia fortunately. :)

is the only risk if btcquick comes under regulation attention?

Hey Ascension,

As a repeating customer and shareholder, my main concern is the fact that you are based in the US and the fact that your government is at odds with Bitcoin companies. I know you have legal counsel and I was wondering if you have any contingency plans for a potential shutdown of your company/website. Since I make semi-constant purchases I notice the improvements each time and would hate to see all the hard work destroyed overnight. I hope for continued prosperity for your sake and mine  :)

Suggestion:

decentralized?
https://dividendrippler.com/

BTCquick could do $500,000 this month, as usual, so the company is running well, only with the uncertainty(or certainty?) of regulation.

I am a medium size shareholder of BTCQUICK , After Bitfunder restricted USA residence to trading on the exchange ..I want to know does anyone has the ideal how will this impact on BTCQUICK, Since that BTCQUICK is a company that registered in USA , will the new policy on Bitfunder affecting negatively on BTCQUICK?
some negative impact like BTCQUICK will be ask for delist from the exchange ?   Sincerely waiting someone give a right answer regard to this matter...Thanks  

As far as I know, there's nowhere mentioned US company has to be delisted in BF's notice. Only the US investors have to sell their shares before 1 Nov. there's no update about future plan from Ascension yet. But if you plan to be a verified user in BF anyway, there's nothing to worry about and maybe you can just enjoy the cheap shares. If you are not, then calm down and wait for Acension's update since there're still half a month left.

Thanks for you reply..... I think if BF would not close anytime soon in the future ,I may consider to get more BQ shares.
 and I am not a US user anyway... I got verified long time ago....

Are there any plans from BTCquick to accommodate US investors?

Still not know ,but I guess if BF ask BQ to delist, it may go for direct share system as well as AM.

maybe choose Havelock in advance and make dual listing?

Seems Havelock is not receiving new asset now. I'm afraid havelock will be in the boat soon.

Source?

Dividend predictions????

I'm shooting for over 300 satoshis after last fortnights disappointing dividend a strong payout today could mean a little jump in the share price.

This is the last message from havelock staff
Can't find anything related to not accepting new assets.

https://bitcointalk.org/index.php?topic=141293.msg3332409#msg3332409

and

https://bitcointalk.org/index.php?topic=228327.msg3337253#msg3337253

So it's confirmed by multiple issuers trying to move assets.

What happened to Dividends yesterday? no update and yet another drop in share price. Starting to lose faith in this company :(

Lol whut? jump out of window fast!

i'm holding out, but i'm losing faith too

same here >.<

what happening with the dividend? did the issuer forgot to pay ???

with all the uncertainty around U.S. based bitcoin companies right now, paying div on time and giving a comprehensive update would have seemed prudent.

I am not quite at the point of selling off but I certainly won't be acquiring anymore shares until Ascension starts giving some info to his shareholders, a lot of whom have lost thousands of dollars in the last two weeks

lot of people suffered more loss......personal I am lose about 30K USD  in last months ~~ every day wake up with diminishing of my investment's value, that is not good ~

Everyone who didn't sell two months ago is down 10/100s of bitcoins. 

We can either sell out at the absolute bottom (re: now) and trust in bitcoin's price increase to continue indefinitely, or we can wait and see our patience rewarded with huge gains down the road, which would mean increased share price AND increased BTC price.

I say if you don't need the money to feed and clothe your children, then leave it there.  These companies aren't going away

(disclosure: I own 10K+ shares of btcQuick, ActiveMining and CipherMine, respectively, so I am definitely feeling the nausea of seeing my portfolio demolished)

Holding those companies is one thing, other things is the counterpart risk is extremely higher than its reward...

if you are serious BTC securities trader you will consider of the trading volume...the trading volume at this moment just not suit for the need of making big profit.

It is a little worrisome that the dividend was missed and no word from BTCQuick.

Not time to panic yet. Dividends have always been on the 16th or 17th not the 15th.

well multiply your nausea by about 20 and thats how I'm feeling right now. I can handle the share price falling it's the lack of info from btcquick that is really dissapointing

first off - dividend is not late, It is always posted the day after the 15th.

We will have more in stock tomorrow morning. Our transfer did not go through this morning as we expected.

We are still working on the bitfunder issue but this is a process that takes time and we have our lawyer working on the issue.

It might be worth having a chat with Ken Slaugher of Active Miner

That sucks brother.  When this storm passes let's meet on your yacht for a couple rounds of single malt Scotch.

Hey Ascension, can we get an update on why the dividend is so low? Thanks

Because Marco Santoris' fees are so high?

You got it. We made a large retainer payment this dividend period. Dividend without legal fee's would have been ~147 BTC

Is there any positive progress?

Thanks Ascension! Keep rocking it.

This is why i'm holding out, BTC quick are doing things properly, in the short term, yes - no dividends and dirt cheap shares is a bit disconcerting, however in the long run BTC Quick are positioning themselves for greatness

I was wondering who was making the money, in these turbulent times.

Of course, the lawyers are siphoning it off, at BTC60 a pop. Silly me.  :-X

Paying a lawyer is all well and good - but thats exactly what all the online poker companies did before Black Friday see how well that worked out for them. Having all the legal opinions in the world won't stop btcquick getting shutdown it might keep the owner out of jail but thats about it.

Are you suggesting that in that case the owner should just risk getting to jail, instead?

I think he's just reminding us the risk of this company. The lawyer may save the person, but not necessary the company.

But is it risky if the company only issues shares to non-US residents?

YES, what btcquick is currently doing is illegal it doesn't matter who owns the company. they need to get compliant before they get a cease and desist letter from the DoJ it's basically that simple in my eyes at least.

use debit card or credit card to buy bitcoin is illegal? then what of methods should we used to buy bitcoin is so called legally?
I think buying bitcoin is like trading your currency with private money ,and most countries won't recognized this transaction as a legal move..
the only guys who really worried about this issue is the issuer because he might go to jail for it.

Ascension please have your webmaster do a quick edit of the btcQuick webpage, there are two glaring typos.  It should be "Fees" not "Fee's" and "Buy bitcoins" not "Buy bitcoin's."

May seem like a trifling matter, but when we're talking about moving a lot of money around and building credibility, that sort of typographical error can push people away. 



Thanks.

It does not matter where the shares are issued, the company is based in the USA therefore we fall under the laws of the land.

Could you please introduce the legal issues btcquick may risk?

what's the legal problem now? what did you talk to the lawyer ? what did him response? what are you going to do next?

Thanks for the reply, Ascension. So is it possible for btcQuick to register with SEC?

mark

Bitfunder has to do first.

Most likely, the company or some private investors will try to buy back all the shares. I think this is the only reasonable solution for BtcQuick now. Therefore, actually panic selling now may not be beneficial to us, the public investors, but to the private investors.

Unfortunately, 1M shares previously stayed in the IPO price ask position was sold directly to the bid wall and crashed the price to 0.00055.

Why are you not putting the stock up on crypto stocks, if labcoin can be listed on it, i don;t see why a legitiamate company like BTCquick can not be listed on it

Exactly because of that.
If a stock exchange allows shady companies, it is itself shady.
Hence legit companies should want to have nothing to do with that.

True i guess.....

is btcquick still live? I payd the membersheep fee, i submitet my documents and i emailed them twice but no answer in a week so far...
better change the name to btcslow.

What about 796.com and crypto-trade.com? Based in HK.

You know what's funny? They wouldn't tell us their 'big secret' in here but they will tell the world in a Coindesk article (http://www.coindesk.com/bitcoin-sales-service-btcquick-hits-nearly-2m-sales/). Bit odd, no?

I must admit crypto-trade does like promising, although I don't know their stance on allowing more securities.

Looking forward to more improvements and updates.

Ok, well the 1st of November will be coming up pretty quick. Do we have any ideas on what will happen for US shareholders? I think this should be addressed very soon before the share price tanks any further.

hi looking forward for update?

While shareholder concerns do have an impact on price. The big problem is can the company continue operation. Exchanges shutting down and WeExchange only available in a few select states now. It's not getting better any time soon.

The company isn't an exchange though. Granted I suppose they issued a security.  They would just have to follow the appropriate money exchange regulations.

Time to move to Canada Ascension? We welcome you!

Look at the trading history and ask orders, it shows that US investors sold shares panic. There are not many ask shares, but large trading are just "sell" order. I don't know what could happen in the future, but I think it's worth of holding at this price even the trading will not be available. The dividends are good enough to hold those shares.

What will be in case if BTCquick can't sell Bitcoins? What will be with shares on bitunder? They will be refunded?

No

This is only sell Bitcoins, not exchange service like assets exchange platform. You can sell lots of stuff on internet, sb. even sell Bitcoin on ebay or amazon. So the legal issue of selling bitcoin should not be a big issue.

But I think just this concern makes lots of people panic, or else others wouldn't have  such a good opportunity to buy shares at such a low price.

Profit and risk exist together, usually the higher risk the higher profit. People have to make choice by themselves.

The legal issues are practically identical, at least with respect to U.S. MSB registration and state level money transmitter licensure.

The legal issue is releasing unregistered security to a lot of unaccredited investors. If the company is 100% privately invested, like coinbase, it will be much safer.

Do you think btcquick need a MSB to operate?

Of course they do.

Bitquick is breaking the law in a few ways, and I am concerned for their future. The security is illegal from the perspective of the SEC, and there is a good chance they are breaking the MSB rules as well.

They would argue that because they are simply "selling" Bitcoins in a one-way street manner (there is no movement of funds between multiple parties like an exchange) they are exempt but I am very wary of this argument. I say this because if you look at the recent regulatory guidance, FinCEN classified Bitcoin in the same category as a traveler's cheque.

If you allow people to redeem traveler's cheques for dollars int he US you are an MSB. Thus I think btcquick is an MSB... and they are certainly not registered as such. I hope they do this for their own benefit, I want to see everyone succeed.

So those people who selling BTC physical coin online is require a MSB ? This question is only can be answered if BTC is a legally currency.

Technically, yes they are. Bitcoin has already been deemed a "convertible virtual currency" by FinCEN (http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html) so it need not be called a "legal currency" per se.

Its sad that a well run business like this has all these problems due to regulators.
Whats shocking to me is the concept of "accredited investor".  Why can't normal people help a business they like and maybe get a return back for the effort? Friends do this all the time.
A professor of economics from any developing country would not qualify as a "accredited investor" but Kim Karadshian would be approved in a second.

I wonder why the US is in such deep economic problems..

I hope BTCquick does well, I really liked there service.

Freedom of choice will be occur in one day ~~ :)

Simply because years ago this was inconcievable, you couldn't just do that in any practical way.
Now that we can, the bureocracy and the related laws are very very very VERY slow catching up.

A professor of economics from a developing country can do whatever that country's laws allow him to.  I'm sure Somalia's law is much more accommodating.  The reason that Kim Kardashian is allowed to waste money is she can afford it & won't go on welfare if she gets none of it back.


We're doing fine, thanks 8)

Avalon hello!
Maybe I totally miss the point, but,

According this document  http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html  ,
if you are Jerrod Bunce, you are a money transmitter-an "Exchanger" of a "De-Centralized/convertible Virtual Currencies" as a "money service business".
Since USA is the unique democratic country where you can serve a lifetime sentence for a pizza theft,in order to operate legally on the entire country,You must, for Btcquick, you and yours shareholders obtain:

* the btcquick registration  with the Department of the Treasury
* In every 51 states a money transmitter licence or a "no action letter"

All theses requirements seems take long time and cost much, about ten of thousands dollars. Maybe Santori can lower that with his skills,but I hope for all of us he is the best!

Please give us substantial news or status,keep us informed of btcquick future.

never saw an october progress update

september was lucrative

I think they are very busy as other bitcoiner business. The is a key time for lots of bitcoiners.

Looking forward to the dividends.

If BTCquick can solve this, the stock price would be rocketing.

And I sincerely hope BTCquick fellows make it.

hopefully we haven't had to pay any more retainer fees in the last two weeks, if that is the case then dividends could be very good this time around - getting back over 300 for the dividend would almost certainly see a doubling in share price almost instantly.

are tehse shares going to remain on bitfunder even though this company operates in the USA?

I want to buy more btcQuick shares but now it's impossible to log into bitfunder.

I am having the same trouble. So far we have received zero support from bitfunder regarding this matter, not even a response to my emails.

Can we get an update of October sales? Will dividends be paid today assuming you can get back into bitfunder?

Same as i, only able to load the page but failed to log in

I'm currently logged in, and have been the past two days. I suppose Ukyo could be updating the log in portion of the site?

I can login from my phone, but not from my PC.
When i try to login it just send me back to the front page. Is it the same for you?

Ascension, I hope we are moving to direct shares or a new exchange.

The stock is down 95% from its high and I don't see any support or information from you at all. 

Maybe when ActiveMining comes out with their exchange then BtcQuick could transfer to "direct shares" and store them on there until colored coins are finished. The lack of communication from Ukyo is disheartening but not surprising.

This happened before. I think you need to clear up you cache.

it is ok to log in today...

I was finally able to log in today.  The shares have hit pretty much rock bottom. 

Ascension can you please at least make me feel better by having someone fix the "Fee's" and "bitcoin's" typos on the website?!?!?!?!?!?!

Right. The share price cannot be lower, because the ask shares are less than 100K under 0.0002. Nobody wanna sell it by such a low price. But buyers are just waiting for the last 24 hours to see whether some US users will sell their shares in panic.

Anyway, I agree Ascension should fix spell mistake asap.

May be Ascension just like that way of spell.... haha ;)

Dividends posted yet?  Predictions?  I wonder if the site has had an uptick in traffic over the past few weeks with the big surge in BTC price?

hoping we broke $600k in sales this month and predicting a dividend around 300

Nothing impossible

anybody know when will the first November dividend be released?

My guess is today or tomorrow. We've gotten them on the 6th of the month before too.

Bitfunder is closing down
what about our shares?
any btcquick official talk about it?  ???

I have shares with BTCquick, what is happening now bitfunder is shutting down?

too bad that bitfunder is shutting down...what is the btcquick action, is that to move to other exchange?

Ascension said the shares won't be lost: https://bitcointalk.org/index.php?topic=159716.msg3459522#msg3459522

 hopefully we move to havelock, especially now that they say they are licenced.

No reason not to move to Havelock since BTCquick is a proper registered corporate entity with legal representation etc. Bitfunder is just not a good place to be any longer.

We have to move anyway, as bitfunder is ceasing operation (see bitfunder website announcement now)

"Important Notice (November 4, 2013)

Please be advised that BitFunder is ceasing operations. In connection with BitFunder's shut-down, please note the following points, which supplement the points outlined in BitFunder's October 8, and October 11, 2013 notices:"

"No reason not to move to Havelock"

 :P

Havelock please. 

The company's performance right now is very UNimpressive.  We're right at the height of an enormous run-up in BTC price, and there have been 0 bitcoins available for purchase for days. 

Couple that with the silence from Asenscion regarding the very serious issues of tanking share price, no liquidity, no word on dividends, no word on Bitfunder closing, no word on the typographical errors that litter the website being fixed, and it looks extremely bleak for btcQuick shareholders.

I 100% agree, however will at least point out this message on site:


Heads Up! Bitcoins will be available on 11.06.2013 around 8:00 AM MST

Yesterday is said the exact same thing except 11.05.2013 and the day before that.

I could understand not wanting to purchase bitcoins to sell if the price was going down rapidly but up...I dunno. Bank problems?

We should have coins available today after talking with our exchange.

Any news on the Bitfunder problem?

or the dividend?

I think the shares should be moved to HaveLock, as many others did it with their shares.

Wouldnt hold my breath on getting any btc soon. So much for the Heads Up ticker- it just resets at midnight with the same message
It figures the first time I want to buy btc there bone dry for the past 4 days

Wow.

Get your ass on local bitcoins and BUY some bitcoins btcQuick. , 

when will we get our dividend for last 15 days? we need you update and about the direction of the shares ! Please!!!!

We know you are busy ascension but the lack of communication from you over the last 6 weeks is really terrible.

+1 We need to know what will you do with BF shutdown ...and why no communication about the dividend??

Btcquick said they got bitcoin available 30 minutes ago on tweet. The operation seems OK. We need to wait for the dividends. But I think this time dividends won't be good because of the raising of Bitcoin.

Anyway, the operation is good, we are all good.

Dividends will not be posted for October as we were in the red, more info on this will announced shortly.

I hope you're going to post about the Bitfunder situation as well. Some transparency would be nice. I don't know why everyone in the BTC community is being so flaky lately. Not a good sign.

too bad!

Shareholders WARNING! If you have plan to cash out...you can not!!! At this time, it is impossible to withdraw BTC from weexchange, my money (as all users) is "stucked" in weexchange wallet.   Ukyo really is fixing issue or are we all fucked?!?
If you still have  btc in BF, I suggest you buy your favorite shares and see with issuers

You're - WE'RE - in the red because you have failed to have any of your ONLY PRODUCT in stock during the time when everybody wants it the most.

Not only are you costing us money right now, but you've no doubt lost countess potential customers in the future with your embarrassing "0 Bitcoins Available" posting.

If I could cash out - even down 95% - I would. 

Investing in btcQuick is probably the worst financial decision I have made to date. 

This just unbelievable... how could BQ become make lose? if they do charge the transaction fee? :-\