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Title: Cryptsy Fee Shares Post by: wtman on October 23, 2013, 04:25:24 PM Cryptsy offers shares of the Cryptsy exchange trading fees. Cryptsy will offer 100,000 non-dilutable fee shares for a price of 0.05 BTC per share at IPO. Each share represents 0.0002% of the trade fees collected. For example, if Cryptsy collects 100 BTC in trade revenue, each share would receive 0.0002 BTC. Dividends will automatically appear in shareholders’ CryptoStocks accounts every Friday around 17:00 EST. Why is Cryptsy Raising These Funds? We are seeking capital to help us fulfill regulatory compliance and file licenses in all the US States which require us to be registered as an MSB. It is estimated that this process will require around $1M in capital. https://cryptostocks.com/securities/57 So cryptsy is offering 100k shares where each shares gives .0002% of fees to the shareholder So cryptsy is offering 20% of total shares for a total of 5000 btc Valuing the site at 25k btc which is around $5M What do you guys think? Cryptsy says it will take $1M in capital for all licenses in all US states. ===== Also, another site MCXNOW has feeshares. Currently going for .65 btc per feeshare but they offer .001% fees per share which is 5x more than what cryptsy offers per fee. MCXNOW's volume is also much higher than that of cryptsy It remains to be seen whether cryptsy shares will be worth it. Also, I suggest them to trade the shares on cryptsy.com itself too, in addition to cryptostocks Title: Re: Cryptsy Fee Shares Post by: MaGNeT on October 23, 2013, 04:37:48 PM Quote Ticker CRYPTSY Name Cryptsy.com Exchange Fee Shares Listed on October 22, 2013 21:05 Owner paul@cryptsy.com Fee surcharge [%] 0.0% Shares issued 100,000 Shares held publicly 953 Total dividends paid 0.0 BTC Web page https://www.cryptsy.com Security type Shares Rating White Description: Cryptsy offers shares of the Cryptsy exchange trading fees. Cryptsy will offer 100,000 non-dilutable fee shares for a price of 0.05 BTC per share at IPO. Each share represents 0.0002% of the trade fees collected. For example, if Cryptsy collects 100 BTC in trade revenue, each share would receive 0.0002 BTC. Dividends will automatically appear in shareholders’ CryptoStocks accounts every Friday around 17:00 EST. Why is Cryptsy Raising These Funds? We are seeking capital to help us fulfill regulatory compliance and file licenses in all the US States which require us to be registered as an MSB. It is estimated that this process will require around $1M in capital. Fulfilling these requirements will allow us to offer Fiat Currency on our exchange. We currently only trade in Crypto-Currency to Crypto-Currency pairs. What does the future hold for Cryptsy? Offering Fiat in our exchange will rapidly increase our trading fee income, which would also be passed along to the shareholders. We currently are collecting in fees over 100 BTC per month. We estimate that by bringing Fiat currency to the exchange we will increase our revenue by 10-20 fold almost instantly (within 90 days to allow for licensing). This equates to fee income of 1000 to 2000 BTC per month within 90 days and increasing as more users migrate from other services. At 2000 BTC monthly income, each share would receive 0.004 BTC per month - which would give a full return on investment within 1 year. We currency have over 13,000 users, and over 3,500 users in the United States. A very large portion of our user base has expressed that we would be their exclusive exchange once we begin offering Fiat currency exchange. Is this offering required by Cryptsy to get Fiat Currency listed? No. This will just speed up the process. We are already in the process of our first state application (Florida). We expect to be licensed in Florida within 30-90 days. There is an enormous amount of paperwork involved in the process. Here are some of the things we are doing now: - Register with FinCEN (Done) - Create a company AML program (Done - currently being reviewed by legal) - Open an MSB bank account. These are special bank accounts required for companies engaging in MSB activity. (In Process - Expected to be done within 30 days) - Have our financials audited by a 3rd party CPA (In process) - Meet minimum net worth requirements for state licensing (We currently meet this minimum for most states. There are a small number of states, such as California, that require a $500k minimum net worth - which we have not yet met) - File application in first state (Florida) - We are currently waiting on audited financials and final draft of the AML program before filing. - Once we have been approved in Florida, it will then be easier for us to follow with filing in the other states that require it. I believe in all there are 43 states that require licensing. If we raise enough capital, then we will be able to file all states concurrently. Is Cryptsy seeking other methods of funding? Yes. We are also looking at more traditional methods of funding from private individuals and firms. We are not, however, looking at making any "shark tank" type of deals. Will Cryptsy ever perform any kind of buy-back program? It is very likely that 6 months to 1 year down the road we will buy back some shares in order to increase our retained earnings. This will only apply to those shareholders who actually wish to sell. Where is Cryptsy located? We are located in Delray Beach, Florida, USA. See our "About Us" page on our website for our physical address. How do I know if Cryptsy is paying out the correct dividends? Our API can provide you with trade activity. You can use this information to calculate for yourself what the collected trade fees where if you are in doubt. Why didn't you list "Fee Shares" on your own exchange as some other sites have? Because we are located in the US, we must comply with US laws. Offering a securities exchange on our website would place us under SEC rules, and that is just not something we want to deal with right now. Is there a time limit on the IPO shares? I will likely retract any unsold shares after 30 days. So get them now instead of waiting. When is the first payout? The first dividend payout will be October 25th. Do we get more of the dividend if not all the shares are purchased? No. However I will likely give bonus dividends to early buyers in appreciation. Title: Re: Cryptsy Fee Shares Post by: ethought on October 23, 2013, 04:52:59 PM Valuing the site at 25k btc which is around $5M Seems overvalued to me. Also floating like this at a time when they have been having constant technical problems. Undecided - watching with interest. Title: Re: Cryptsy Fee Shares Post by: iGotSpots on October 23, 2013, 04:59:55 PM Picked up 24 of them last night ;)
Title: Re: Cryptsy Fee Shares Post by: wedge on October 23, 2013, 05:03:32 PM #1:
Quote We estimate that by bringing Fiat currency to the exchange we will increase our revenue by 10-20 fold almost instantly Some days it seems like they can barely handle the volume they already have. Even with the latest upgrades, they are still having issues.#2: Quote Why didn't you list "Fee Shares" on your own exchange as some other sites have? And which rules will they have to deal with when they start offering Fiat currency exchanges on their website?Because we are located in the US, we must comply with US laws. Offering a securities exchange on our website would place us under SEC rules, and that is just not something we want to deal with right now. In short, if they're serious about this, they better be prepared for ALL the consequences well in advance. Title: Re: Cryptsy Fee Shares Post by: pr9me on October 23, 2013, 05:30:12 PM Covering this over at CryptoNerd.co (http://CryptoNerd.co) :)
Title: Re: Cryptsy Fee Shares Post by: MaGNeT on October 23, 2013, 05:33:29 PM Bought 99 Cryptsy shares.
Title: Re: Cryptsy Fee Shares Post by: iGotSpots on October 23, 2013, 05:33:44 PM #1: Quote We estimate that by bringing Fiat currency to the exchange we will increase our revenue by 10-20 fold almost instantly Some days it seems like they can barely handle the volume they already have. Even with the latest upgrades, they are still having issues.#2: Quote Why didn't you list "Fee Shares" on your own exchange as some other sites have? And which rules will they have to deal with when they start offering Fiat currency exchanges on their website?Because we are located in the US, we must comply with US laws. Offering a securities exchange on our website would place us under SEC rules, and that is just not something we want to deal with right now. In short, if they're serious about this, they better be prepared for ALL the consequences well in advance. The SEC doesn't regulate them exchanging to fiat. That's more FinCen's territory. They are trying to become an MSB Title: Re: Cryptsy Fee Shares Post by: cryptohunter on October 23, 2013, 05:59:42 PM Valuing the site at 25k btc which is around $5M Seems overvalued to me. Also floating like this at a time when they have been having constant technical problems. Undecided - watching with interest. What is it's turn over and what profit in fee's does it take per month currently? Title: Re: Cryptsy Fee Shares Post by: ethought on October 23, 2013, 06:05:54 PM Valuing the site at 25k btc which is around $5M Seems overvalued to me. Also floating like this at a time when they have been having constant technical problems. Undecided - watching with interest. What is it's turn over and what profit in fee's does it take per month currently? "We currently are collecting in fees over 100 BTC per month. We estimate that by bringing Fiat currency to the exchange we will increase our revenue by 10-20 fold almost instantly (within 90 days to allow for licensing). This equates to fee income of 1000 to 2000 BTC per month within 90 days and increasing as more users migrate from other services. At 2000 BTC monthly income, each share would receive 0.004 BTC per month - which would give a full return on investment within 1 year." I would say the expected increase of between 10 and 20 times current trade volume is very optimistic. What are the current costs on those fee incomes? At the very best forecast (20x current fees) you would make your investment back in a year. Title: Re: Cryptsy Fee Shares Post by: cryptohunter on October 23, 2013, 06:12:55 PM Valuing the site at 25k btc which is around $5M Seems overvalued to me. Also floating like this at a time when they have been having constant technical problems. Undecided - watching with interest. What is it's turn over and what profit in fee's does it take per month currently? "We currently are collecting in fees over 100 BTC per month. We estimate that by bringing Fiat currency to the exchange we will increase our revenue by 10-20 fold almost instantly (within 90 days to allow for licensing). This equates to fee income of 1000 to 2000 BTC per month within 90 days and increasing as more users migrate from other services. At 2000 BTC monthly income, each share would receive 0.004 BTC per month - which would give a full return on investment within 1 year." I would say the expected increase of between 10 and 20 times current trade volume is very optimistic. What are the current costs on those fee incomes? At the very best forecast (20x current fees) you would make your investment back in a year. thanks for the info. Will hold fire and see what happens, signed up to cryto stocks anyway will see how many are being snapped up first. I like cryptsy i hope introducing fiat ends up being a wise move, i don't see why it that essential now there is instant coupons with btce coming. From a traders pov anyway. I appreciate from the exchange it could work out well for them but it will be forced through lots of regulation first i am sure. Title: Re: Cryptsy Fee Shares Post by: gorgorom on October 23, 2013, 06:26:01 PM Picked up a handful of these :) Not missin this boat :P
Title: Re: Cryptsy Fee Shares Post by: jdebunt on October 23, 2013, 06:30:09 PM got myself 2 shares :) we'll see how it goes i guess
Title: Re: Cryptsy Fee Shares Post by: ethought on October 23, 2013, 06:30:26 PM Valuing the site at 25k btc which is around $5M Seems overvalued to me. Also floating like this at a time when they have been having constant technical problems. Undecided - watching with interest. What is it's turn over and what profit in fee's does it take per month currently? "We currently are collecting in fees over 100 BTC per month. We estimate that by bringing Fiat currency to the exchange we will increase our revenue by 10-20 fold almost instantly (within 90 days to allow for licensing). This equates to fee income of 1000 to 2000 BTC per month within 90 days and increasing as more users migrate from other services. At 2000 BTC monthly income, each share would receive 0.004 BTC per month - which would give a full return on investment within 1 year." I would say the expected increase of between 10 and 20 times current trade volume is very optimistic. What are the current costs on those fee incomes? At the very best forecast (20x current fees) you would make your investment back in a year. thanks for the info. Will hold fire and see what happens, signed up to cryto stocks anyway will see how many are being snapped up first. I like cryptsy i hope introducing fiat ends up being a wise move, i don't see why it that essential now there is instant coupons with btce coming. From a traders pov anyway. I appreciate from the exchange it could work out well for them but it will be forced through lots of regulation first i am sure. I like Cryptsy too and hope they succeed. BUT - I think they have valued their company too highly. And I have been burnt by all crypto shares I have purchased so far so a little tentative to jump too quickly. Title: Re: Cryptsy Fee Shares Post by: juve4v on October 23, 2013, 06:43:50 PM Shares are overvalued
Title: Re: Cryptsy Fee Shares Post by: Hazard on October 23, 2013, 08:07:45 PM How can you say these are overvalued when mcxnow shares are valued even higher :D
Cryptsy doesn't have a known scammer running the show either. Title: Re: Cryptsy Fee Shares Post by: QuantPlus on October 23, 2013, 08:15:59 PM Shares are overvalued Cryptsy is worth 10-20% of what MCX is worth max... They are trying to cash in on the Trading Culture that drives MCX. Let's make it 15% = $12,500,000 x 0.15 = $1.8 million Even that is high because it's all about momentum... But let's hope the entire Alt Space keep growing. Also, these exchanges need to name their Principals... Or someone needs to force the issue legally. Title: Re: Cryptsy Fee Shares Post by: jdebunt on October 23, 2013, 08:42:25 PM Shares held publicly 1,625
still a long way to go :) Title: Re: Cryptsy Fee Shares Post by: podizzle on October 23, 2013, 08:48:54 PM How can you say these are overvalued when mcxnow shares are valued even higher :D Cryptsy doesn't have a known scammer running the show either. what does cryptsy's share price being overvalued have to do with mcxnow? mcxnow's shares pay 5x as much with 15x more volume in case you forgot. i doubt you did because youre just as obsessed as us mcxnow users apparently. Title: Re: Cryptsy Fee Shares Post by: Guido on October 23, 2013, 11:14:28 PM how do you buy them or find out more info?
can't see anything on cryptsy and all posts ommitted that info lol edit: is this the place to buy it? i have to sign up here? https://cryptostocks.com/securities/57 who owns the site? thanks for any info Title: Re: Cryptsy Fee Shares Post by: tokyoghetto on October 23, 2013, 11:26:50 PM Shares held publicly 1,625 still a long way to go :) BigVern mentions that in 30 days they will pull the unsold shares...you may never see these prices again. Title: Re: Cryptsy Fee Shares Post by: kelsey on October 23, 2013, 11:41:46 PM What do you guys think? By Big Vern's own write up the shares will give full return of investment within 1 year based on a wooping 20 fold increase in trading :o (so 20 years for full return based on the current real world trading figures). Now if there was such a masive 20 fold increase in trading then picking the right alt on their site would give a much much much greater return then the shares. (Granted thats in reality and doesnt include that average noob around here paying way too much for cryptsy shares after the 100 000 get sold). Also if that 20 fold increase in trading is a 20 fold increase in miners dumping scamcoins....well then we are all in trouble :( Title: Re: Cryptsy Fee Shares Post by: QuantPlus on October 24, 2013, 12:18:06 AM How can you say these are overvalued when mcxnow shares are valued even higher :D Cryptsy doesn't have a known scammer running the show either. what does cryptsy's share price being overvalued have to do with mcxnow? mcxnow's shares pay 5x as much with 15x more volume in case you forgot. i doubt you did because youre just as obsessed as us mcxnow users apparently. The MCX IPO was based on actual revenues... And the current price October 23 in USD is 12 times the IPO price... Reflecting a dramatic increase in volume and revenues.. So the value of MCX has gone from $1 million to $12 million USD. I can assure you that virtually all of the 1000s of MCX investors/traders... Have read all the dirt that RS has been CARPET-BOMBED with here. People whining about some $1,000 deal in 2011... Completely ignore $12 million in wealth brilliantly created by RS... It's always the USUAL SUSPECTS who I'm sure are still grinding $1,000 deals. The Cryptsy IPO, on the other hand... Is based ENTIRELY on fabricated, hypothetical numbers... Such as the pulled-out-of-random-ass "revenues will increase 20-fold"... When Cryptsy becomes "licensed" and heavily regulated in many US states. Of course this will require a MASSIVE bureaucracy to fulfill... It's well known that CampBX pays 60-70% of revenues in regulatory costs. So Cryptsy will flush $1,000,000 down the toilet to sleep with the US government... Specifically, they are now #1 on a list of FIAT exchanges to be shut down on some fine random day. People can speculate on whether MCX will end up a scam eventually... But using completely fake numbers to launch a desperate, dodgy Business Plan = Swindle of the Year. Title: Re: Cryptsy Fee Shares Post by: kelsey on October 24, 2013, 12:28:41 AM So Cryptsy will flush $1,000,000 down the toilet to sleep with the US government... Specifically, they are now #1 on a list of FIAT exchanges to be shut down on some fine random day. Point 1: False Point 2: True (well not no 1, but going Fiat and Crypto in the USA well you know the drill). Title: Re: Cryptsy Fee Shares Post by: Goatboy on October 24, 2013, 03:23:01 AM There are very, very limited options to get financing to grow a business as a cryptocurrency exchange. You would have to give up a big chunk of ownership to an angel investor, or sell unregulated company shares on unregulated markets. The limited option of selling guaranteed-rate shares of future transaction revenue seems like a great idea for Cryptsy.
As an investor, however, I see that my upside is somewhat limited by realistic trade volume growth coupled with more competition overseas, and in the U.S. The bottom could fall out at any time due to regulatory issues. There is an opportunity cost. Barring picking the magic ten-bagger out of the pile of altcoins, is it worth the risk in comparison to buying and holding and equivalent amount of BTC? I'm batting this around in my head. This is something with a high probability of loss, but if it works out, it would be one hell of an asset. I would love to own .0002% of any big brokerage revenue stream. I suppose it comes down to belief in management (BigVern), and belief that the company can grow dramatically in a U.S. regulated environment, while the landscape of cryptocurrency doesn't render the exchange obsolete in less time than it takes to make a good profit. I'd bet my money on Cryptsy's ownership and people, and their ability to fill new market needs going forward. The future of altcoins as a whole, however, is as clear as mud. The claim is 10 to 20 times increase in fee generation once fiat is accepted. Given that there will be fees from fiat to coin and back, it is reasonable to bet that fee income would increase several-fold immediately. Let's say I believe that fee income will average 1500 BTC per month over the year following fiat currency on Cryptsy (Based on 15x current income of "over 100 BTC per month" from provided description: 1500 BTC x .0002% (that's .000002) = 0.003 BTC revenue per share, per month. Assuming a valuation of $180 USD per BTC, that is 54 cents per month, per share. At a cost of 0.05 BTC per share: (0.003 BTC revenue x 12 months) = 0.036 BTC annually, which is around $6.50 USD. So, my investment of .05 BTC or about $9 USD gets me a 72% annual return based on a midpoint between Cryptsy's high and low estimates. Additionally, if the asset is performing, a market will exist to sell it. TLDR: Cryptsy is operated by trustworthy people, and is capable of growing and adapting. Considerably more risky than buying and holding BTC. Illiquid. Probability of high returns are dependent on BTC value AND U.S. law. Neither are stable. Analysis: High risk of loss. Possibility for long term speculation. Invest gambling money only. Title: Re: Cryptsy Fee Shares Post by: stas on October 24, 2013, 09:11:57 AM time will tell.
Title: Re: Cryptsy Fee Shares Post by: MaGNeT on October 24, 2013, 06:56:52 PM Great news!
https://twitter.com/intent/user?original_referer=https%3A%2F%2Fwww.cryptsy.com%2F&profile_id=1383414554&screen_name=cryptsy&tw_i=393392082817011712&tw_p=embeddedtimeline&tw_w=336259778026278912 Quote BigVern @cryptsy 1st dividend payout tomorrow. I will increase the payout to early buyers for Oct 25th only. Full allocated 20% will be split to sold shares Quote BigVern @cryptsy Payout tomorrow will cover fees collected from Oct 18th - Oct 25th. Go get them now so you can get your dividend. I bought 99 shares yesterday, might pick up some more today :) Title: Re: Cryptsy Fee Shares Post by: SpeedDemon13 on October 25, 2013, 08:25:00 AM Got 2 shares so far, just to try it out. Looks promising and hope they succeed.
Title: Re: Cryptsy Fee Shares Post by: NUFCrichard on October 25, 2013, 08:43:06 AM It seems like a good idea and I would like to buy some, but they just aren't as tradeable as I would like.
The MCXfees trade like a coin so I don't need to mess around moving btc around, I guess that is why so few Cryptsy fees have been sold... Title: Re: Cryptsy Fee Shares Post by: like on October 25, 2013, 08:55:49 AM 没交易量了吧，又想个办法来骗人了，没诚信的平台，黑了我的NAN币，不想赔偿就找一大堆的理由来推卸自己的责任，可恶！
Title: Re: Cryptsy Fee Shares Post by: viboracecata on October 25, 2013, 09:26:23 AM Could buy some shares and have a try.
Title: Re: Cryptsy Fee Shares Post by: sumantso on October 25, 2013, 12:57:08 PM Seems a tad overpriced, comparing with mcx's original offering of 0.1 BTC for a larger percentage.
With the site still struggling - during the volatility yesterday my cancelled BTC went missing again - not sure if its worth anywhere near. Will keep an eye and see how it goes. Title: Re: Cryptsy Fee Shares Post by: shakezula on October 25, 2013, 01:20:08 PM TLDR: Cryptsy is operated by trustworthy people, and is capable of growing and adapting. Considerably more risky than buying and holding BTC. Illiquid. Probability of high returns are dependent on BTC value AND U.S. law. Neither are stable. Analysis: High risk of loss. Possibility for long term speculation. Invest gambling money only. While this is true, Paul is a good trustworthy guy who knows business and covers his Ts and dots his Is, the fact remains that nearly every coin on Cryptsy was created with the specific purpose of fleecing someone out of a few bits of their change. Not terribly confidence instilling. Even the coins that weren't created with that idea in mind end up being used as such once they get listed. I'd wager IPO will likely go something like any other, up up, then down down, then stabilize somewhere around 25% of value, leaving plenty of room for people to bitch. Personally I see little to no future in most of the alt-coins on Cryptsy and as such I wouldn't invest USD even if it were easier than BTC. Next point would be regulation, once USD is involved, there'll be plenty--but that's for another thread. You can all take a look back at sports cards in the 90s to see where this ends. Once a few people were able to successfully bring a product out of the woodwork and sell it for a profit (FTC, CHN, ?) the multitiude of available choices that have arisen have simply saturated the market to the point of worthless. Remember stock piling John Smoltz and Ken Griffey Jr. Rookie Cards to put your kids through college? Title: Re: Cryptsy Fee Shares Post by: kelsey on October 25, 2013, 02:08:14 PM TLDR: Cryptsy is operated by trustworthy people, and is capable of growing and adapting. Considerably more risky than buying and holding BTC. Illiquid. Probability of high returns are dependent on BTC value AND U.S. law. Neither are stable. Analysis: High risk of loss. Possibility for long term speculation. Invest gambling money only. While this is true, Paul is a good trustworthy guy who knows business and covers his Ts and dots his Is, the fact remains that nearly every coin on Cryptsy was created with the specific purpose of fleecing someone out of a few bits of their change. Not terribly confidence instilling. Even the coins that weren't created with that idea in mind end up being used as such once they get listed. I'd wager IPO will likely go something like any other, up up, then down down, then stabilize somewhere around 25% of value, leaving plenty of room for people to bitch. Personally I see little to no future in most of the alt-coins on Cryptsy and as such I wouldn't invest USD even if it were easier than BTC. Next point would be regulation, once USD is involved, there'll be plenty--but that's for another thread. You can all take a look back at sports cards in the 90s to see where this ends. Once a few people were able to successfully bring a product out of the woodwork and sell it for a profit (FTC, CHN, ?) the multitiude of available choices that have arisen have simply saturated the market to the point of worthless. Remember stock piling John Smoltz and Ken Griffey Jr. Rookie Cards to put your kids through college? Agree somewhat. I do feel there is upto 20 decent alts on cryptsy, but many are lost amongst the crapcoins. I think if the shares get sold they'll increase in value, and despite being rather critical, I myself have bought a few (more out of curiousty then any investment). I do think cryptsy, although adding some value to alts, is currently doing all decent alts a huge dis-service by listing so many crapcoins. while the whole lets add any coins people want to trade policy works shortterm, well longterm it'll bit them. Also go USD and the regulators may have a field day on the number of scams played out via cryptsy. Title: Re: Cryptsy Fee Shares Post by: murraypaul on October 25, 2013, 05:13:39 PM The claim is 10 to 20 times increase in fee generation once fiat is accepted. Given that there will be fees from fiat to coin and back, it is reasonable to bet that fee income would increase several-fold immediately. Let's say I believe that fee income will average 1500 BTC per month over the year following fiat currency on Cryptsy (Based on 15x current income of "over 100 BTC per month" from provided description: 1500 BTC x .0002% (that's .000002) = 0.003 BTC revenue per share, per month. Assuming a valuation of $180 USD per BTC, that is 54 cents per month, per share. At a cost of 0.05 BTC per share: (0.003 BTC revenue x 12 months) = 0.036 BTC annually, which is around $6.50 USD. So, my investment of .05 BTC or about $9 USD gets me a 72% annual return based on a midpoint between Cryptsy's high and low estimates. Additionally, if the asset is performing, a market will exist to sell it. A more pessimistic way of looking at it: On current revenues, each share will return 0.0002 BTC per month, or 0.0024 per year. Cryptostocks charges a fee of 0.01 BTC ($1.80) per withdrawal. So if you only withdraw once per year, if you bought 10 shares, you would earn 0.024, but pay 0.01 in fees. To get the fee loss below 5%, you'd need to buy 80 shares. If revenue increases to 1000 BTC per month (which is pretty optimistic), your 10 shares would earn 0.24, and you would pay ~4% in fees. But unless there is something else on Cryptostocks you are happy to invest in, that means leaving your returns sitting doing nothing all year. TR;DL: 0.01 BTC per withdrawal is a pretty punitive fee, and a discouragement to smaller investors. (Although oddly it looks like you could change to LTC first and transfer out at only about 10% of the fee?) Title: Re: Cryptsy Fee Shares Post by: shakezula on October 25, 2013, 05:17:06 PM Just a peeve, but it's "Caveat emptor," not 'empore.'
Title: Re: Cryptsy Fee Shares Post by: MaGNeT on October 25, 2013, 05:21:34 PM Difference between RealSolid and BigVern: RealSolid is "untraceable", tries to hide. BigVern is "traceable" and open.
Looking at the steady growth of Cryptsy, recent upgrades, their future plans and familiar faces like Mullick, Pr9me and BitJohn who are always willing to help you (unless you start to troll), I put my money on Cryptsy. As for everything you do in this scene: don't put more money in it than you are willing to lose. But how much risk is it to hold 1 BTC worth of shares? (or in my case, 5 BTC) We can all make calculations on how it will fail or succeed, in the end only time will tell... Look at where Cryptsy was 4 months ago... Look at where it is right now... If, in one year, my investment "fails", please come back and laugh at me :) Title: Re: Cryptsy Fee Shares Post by: jdebunt on October 25, 2013, 07:38:36 PM fee dividends are being paid out later today, looking forward to it :)
Title: Re: Cryptsy Fee Shares Post by: MaGNeT on October 25, 2013, 09:34:46 PM fee dividends are being paid out later today, looking forward to it :) :) Quote Dear user104, Cryptsy.com Exchange Fee Shares (CRYPTSY) has paid a dividend of 0.00082695 BTC per share. You own 99.0 shares and have received a total dividend payment of 0.08186805 BTC Title: Re: Cryptsy Fee Shares Post by: murraypaul on October 25, 2013, 09:43:20 PM Next few dividend payments also likely to be bumped up:
Quote BigVern: Fees paid out this period was for the entire allocated to 100k, but shared only amoung the 5k sold. I will likely do this for the next couple payouts. I have had some outside interest in this program this well, so if those deals occur I would reduce the available shares for sale accordingly Title: Re: Cryptsy Fee Shares Post by: ny2cafuse on October 25, 2013, 10:59:45 PM I like the idea, but I'm not all in on the cost per share. I'll wait to see if this comes down. A little food for thought for the short term guys...
I'll use numbers I'm currently working with... 4BTC investment in Cryptsy shares would be 80 shares. At 0.00082695 per share, that's 0.066156BTC per month. 4BTC investment at CEX.IO would yield about 42-46GH/s shares, which at tomorrow's difficulty would pay ~0.0544BTC(with 42GH/s) per day. I know the mining game is a rough one right now, but if you're looking for a faster return, CEX.IO is pretty decent right now. But like I said short term. Hell, at a 0.05BTC a day payout, take that and buy shares of the Cryptsy IPO. Title: Re: Cryptsy Fee Shares Post by: murraypaul on October 25, 2013, 11:32:32 PM I'm not convinced about the cost per share either, but it is reasonable to think that Cryptsy can increase their trading revenue, whereas it is certain that the BTC/GHash income will decrease, so the same comparison in 1/2/3 months time could look very different. Therefore the Cryptsy shares should have a greater resale value.
Title: Re: Cryptsy Fee Shares Post by: jdebunt on October 26, 2013, 06:39:03 AM Cryptsy.com Exchange Fee Shares (CRYPTSY) has paid a dividend of 0.00082695 BTC per share. You own 2.0 shares and have received a total dividend payment of 0.0016539 BTC
well, it's not looking bad so far, we'll see in the coming weeks :) Title: Re: Cryptsy Fee Shares Post by: sumantso on October 26, 2013, 08:59:11 AM Cryptsy.com Exchange Fee Shares (CRYPTSY) has paid a dividend of 0.00082695 BTC per share. You own 2.0 shares and have received a total dividend payment of 0.0016539 BTC well, it's not looking bad so far, we'll see in the coming weeks :) Enjoy your earnings :) Title: Re: Cryptsy Fee Shares Post by: SpeedDemon13 on October 26, 2013, 09:02:29 AM Cryptsy.com Exchange Fee Shares (CRYPTSY) has paid a dividend of 0.00082695 BTC per share. You own 2.0 shares and have received a total dividend payment of 0.0016539 BTC well, it's not looking bad so far, we'll see in the coming weeks :) I own 2 shares too...lol Title: Re: Cryptsy Fee Shares Post by: shakezula on October 26, 2013, 02:17:07 PM Shakezula stated: Just a peeve, but it's "Caveat emptor," not 'empore.' Shakezula, thanks for straightening that out! I can't spell any better than I can write. But at least maybe now I will get that much correct. Best Wishes, & Caveat emptor! :) No worries, after typing, I considered that Latin may not be your first language! ;) Title: Re: Cryptsy Fee Shares Post by: MaGNeT on October 27, 2013, 03:32:31 PM Coming friday, there will be another high dividend payment so get your shares now!
Title: Re: Cryptsy Fee Shares Post by: Aggrophobia on October 28, 2013, 07:18:08 PM Coming friday, there will be another high dividend payment so get your shares now! shh... Title: Re: Cryptsy Fee Shares Post by: MaGNeT on October 29, 2013, 08:50:53 AM Coming friday, there will be another high dividend payment so get your shares now! shh... Hmm, true, the less shares are sold, the more dividend I get next friday :) Title: Re: Cryptsy Fee Shares Post by: MaGNeT on November 02, 2013, 08:36:51 AM Nice dividend payout yesterday.
0.08 BTC :) Quote You own 101.0 shares and have received a total dividend payment of 0.08082525 BTC Title: Re: Cryptsy Fee Shares Post by: stas on November 04, 2013, 07:16:27 AM UP
Title: Re: Cryptsy Fee Shares Post by: Beeker on November 08, 2013, 03:05:14 PM bought 171,, :)
Title: Re: Cryptsy Fee Shares Post by: Sustainable on November 08, 2013, 04:14:41 PM Cryptsy is the peoples exchange. I will continue to back it and so should others if they want Alt to Fiat!
Title: Re: Cryptsy Fee Shares Post by: Carra23 on November 10, 2013, 07:15:24 AM Only 7% sold and the market history shows it has been trading below the offer value.
A price reduction may be the way to go. Title: Re: Cryptsy Fee Shares Post by: roozifus on November 10, 2013, 02:37:13 PM I just picked up 40 :)
Title: Re: Cryptsy Fee Shares Post by: techbytes on November 10, 2013, 03:12:02 PM Using my dividend to buy more shares to get more dividend to buy more shares... ;D
-tb- Title: Re: Cryptsy Fee Shares Post by: MaGNeT on November 13, 2013, 07:22:00 PM Dividend payment in two days!
Get your share :) https://cryptostocks.com Title: Re: Cryptsy Fee Shares Post by: sumantso on November 13, 2013, 08:07:10 PM Dividend payment in two days! Get your share :) https://cryptostocks.com I was thinking of getting some, but the lacklustre response has concerned me. At this rate I doubt they will get the money for all their projects. Title: Re: Cryptsy Fee Shares Post by: roozifus on November 14, 2013, 06:05:03 AM Dividend payment in two days! Get your share :) https://cryptostocks.com I was thinking of getting some, but the lacklustre response has concerned me. At this rate I doubt they will get the money for all their projects. I'd imagine they could get the rest of the money from venture capital or something. I think they'd just prefer to get as much as possible from cryptostocks because it's simple and fits in nicely with the whole crypto-community thing. Title: Re: Cryptsy Fee Shares Post by: verloren on November 14, 2013, 06:13:42 AM BTC's recent price increase isn't doing them any favors either.
Title: Re: Cryptsy Fee Shares Post by: roozifus on November 14, 2013, 09:05:05 AM BTC's recent price increase isn't doing them any favors either. Actually, the price of BTC should be irrelevant. People buy shares with BTC to end up with more BTC than they started with. Fiat doesn't come into this equation. If people aren't buying the shares, that simply means they don't have faith in Cryptsy. I agree this should actually work in cryptsy's favor. A big part of why I bought some shares was because (unlike my investments into altcoins) if btc keeps going higher I'll get that back in the dividends anyway. This of course assumes the dividends + any resale of the stock is greater than what I paid for them :) But the fact that cryptsy is able and willing to support so many coins makes me think they'll do well in the medium-long term. If they actually manage to pull off the USD <-> crypto thing that will be even better. Title: Re: Cryptsy Fee Shares Post by: IamNotSure on December 30, 2013, 10:02:26 AM Anyone knows why cryptsy stock skyrocketted to 0.4 today ? 1/4 of monthly volume in the last 24h according to crypto:stocks stats. Some insider news about USD/BTC launch ?
BTC's recent price increase isn't doing them any favors either. About this, I think what he means is that since the dividend is paid in BTC in relation to the transaction fees (and thus volume), the fees in BTC would lower with a high BTC, and increase with a cheap BTC. A bit like in gambling economy where the wagered bets decrease (and then the house advantage) when BTC rises. But anyway I think cryptsy has proven reliable and service is really improving so I guess it'll be a nice long term investment. PS: sry for the bump Title: Re: Cryptsy Fee Shares Post by: stas on December 30, 2013, 10:24:16 AM Shares are overvalued Cryptsy is worth 10-20% of what MCX is worth max... They are trying to cash in on the Trading Culture that drives MCX. Let's make it 15% = $12,500,000 x 0.15 = $1.8 million Even that is high because it's all about momentum... But let's hope the entire Alt Space keep growing. Also, these exchanges need to name their Principals... Or someone needs to force the issue legally. uhu... where is your MCXnow now? Title: Re: Cryptsy Fee Shares Post by: roozifus on December 30, 2013, 10:38:53 AM Anyone knows why cryptsy stock skyrocketted to 0.4 today ? 1/4 of monthly volume in the last 24h according to crypto:stocks stats. Some insider news about USD/BTC launch ? I was wondering about that and I hope so. Then again, there wasn't that many shares for sale between 0.2 and 0.4 so it might just be that a couple of people have bought at a similar time. But I agree the spike in volume is interesting. Title: Re: Cryptsy Fee Shares Post by: NeonRonin on January 03, 2014, 09:47:45 PM I own 112 shares of Cryptsy Fee Shares, that I bought at 0.05 when BTC and the equivalent USD value was about $20 per share. My total investment was 5.6 BTC and in USD at the time was $2240.
Each week, though sometimes a little late, I have received a dividend payment that ranges from 0.0003 per share to 0.0008 based on 2.3 to 4.9 BTC in Fee Shares. In total I have earned 0.58 BTC from this investment since October. At current weighted average rate of BTC, ($825.70) this is roughly $478.91 USD. If I were able to sell all my shares at current trading values, it would return 39.2 BTC or roughly $32,341.57 USD. What gets interesting is if BigVern's projections come true of 10-20x growth once Fiat trading becomes available. Let's just say at 2.3 * 10, would be 23 BTC a week or about 0.32 BTC a week with my current shares, at today's BTC weighted value that is $267.61 a week. Now, if you look at the Winklevoss and Second Market ETFs, they are predicting BTC to hit values of $18,500 to $38,500 one day. I am then looking at a possibility of $5920 to $12,320 a week. (Who would have thought BTC at the start of last year would hit a $1,200? It's not impossible that it may one day reach those levels). I think the current price is probably undervalued, and people reacted to the offering emotionally instead of logically looking at the numbers and potential. You also have to look at that Cryptsy and Bigvern have filed registerings that are public record, posted office addresses, and have been working their ass off. MCXNow on the other hand hasn't done any of those things, is an anonymous person that suddenly shutdown the site after taking in a huge amount of BTC during their fee share offering... Title: Re: Cryptsy Fee Shares Post by: IamNotSure on January 03, 2014, 09:59:22 PM I own 112 shares of Cryptsy Fee Shares, that I bought at 0.05 when BTC and the equivalent USD value was about $20 per share. My total investment was 5.6 BTC and in USD at the time was $2240. Each week, though sometimes a little late, I have received a dividend payment that ranges from 0.0003 per share to 0.0008 based on 2.3 to 4.9 BTC in Fee Shares. In total I have earned 0.58 BTC from this investment since October. At current weighted average rate of BTC, ($825.70) this is roughly $478.91 USD. If I were able to sell all my shares at current trading values, it would return 39.2 BTC or roughly $32,341.57 USD. What gets interesting is if BigVern's projections come true of 10-20x growth once Fiat trading becomes available. Let's just say at 2.3 * 10, would be 23 BTC a week or about 0.32 BTC a week with my current shares, at today's BTC weighted value that is $267.61 a week. Now, if you look at the Winklevoss and Second Market ETFs, they are predicting BTC to hit values of $18,500 to $38,500 one day. I am then looking at a possibility of $5920 to $12,320 a week. (Who would have thought BTC at the start of last year would hit a $1,200? It's not impossible that it may one day reach those levels). I think the current price is probably undervalued, and people reacted to the offering emotionally instead of logically looking at the numbers and potential. You also have to look at that Cryptsy and Bigvern have filed registerings that are public record, posted office addresses, and have been working their ass off. MCXNow on the other hand hasn't done any of those things, is an anonymous person that suddenly shutdown the site after taking in a huge amount of BTC during their fee share offering... Excellent summary. Personally I've invested around 0.1 because I saw many bugs on cryptsy due to the surge in traffic after MCX failure, but I also saw BigVern working his ass off to correct this. Actually, I was thinking that this exchange would be excellent if all the bugs were corrected, which is obviously not the case now. But every week I see improvements and soon people will realize the potential of an investment there. I personally value cryptsy around 0.5 BTC without fiat trading. With fiat it's another story ! Title: Re: Cryptsy Fee Shares Post by: IamNotSure on January 06, 2014, 11:58:11 AM Seen on crypto stocks today
Quote On another note, going forward I will be starting to pay out based on the original per share percentage instead of a whole amount of 2%. This is due to the fact that we will be buying back some shares soon from some individuals, which means that 2% will no longer represent the whole lot and a per share rate as originally quoted will be easier to calculate. BigVern This is not good news, we were getting 2% of revenue before and now we'll be getting 1,5896% according to my calculations Title: Re: Cryptsy Fee Shares Post by: NeonRonin on January 06, 2014, 07:49:46 PM Seen on crypto stocks today Quote On another note, going forward I will be starting to pay out based on the original per share percentage instead of a whole amount of 2%. This is due to the fact that we will be buying back some shares soon from some individuals, which means that 2% will no longer represent the whole lot and a per share rate as originally quoted will be easier to calculate. BigVern This is not good news, we were getting 2% of revenue before and now we'll be getting 1,5896% according to my calculations BigVern has actually been providing a little bit of a bonus from when he pulled the outstanding shares from the market. In the offering he clearly states that each fee share is worth 0.0002% of the earnings and he also made it publicly known that he would do a share buy back, which would not be fair to him to have to continue offering 2% of the revenues on his reclaimed shares. Personally, unless he is offering a substantial premium over the current market price, I will not be selling mine back. The real money in this is sometime in the future (and BigVern knows this) as the cryptocurrency market grows and value of BTC increases. He's making $100k+ a week now and will easily be able to meet Money Transmission funding requirements in a few more weeks at this rate if he hasn't already. He's no dummy on wanting to retain more of his profits. Title: Re: Cryptsy Fee Shares Post by: IamNotSure on January 06, 2014, 08:05:25 PM BigVern has actually been providing a little bit of a bonus from when he pulled the outstanding shares from the market. In the offering he clearly states that each fee share is worth 0.0002% of the earnings and he also made it publicly known that he would do a share buy back, which would not be fair to him to have to continue offering 2% of the revenues on his reclaimed shares. Personally, unless he is offering a substantial premium over the current market price, I will not be selling mine back. The real money in this is sometime in the future (and BigVern knows this) as the cryptocurrency market grows and value of BTC increases. He's making $100k+ a week now and will easily be able to meet Money Transmission funding requirements in a few more weeks at this rate if he hasn't already. He's no dummy on wanting to retain more of his profits. I totally agree, I wasn't complaining. It is still bad news that the bonus end. Since the IPO wasn't a full success (less than 10% of the shares sold) he's maybe thinking of going close to 100% privately owned, and maybe IPO later when he'll need funds. Now he probably doesn't more cash to develop. I won't sell either without a nice premium. I hope that he uses this money to hire skilled programmers to fix his trading engine (colliding orders, lag resulting in negative balances) and his deposit/withdraw engine, and some PR and support to calm the angry (and sometimes stupid) users that start a FUD thread here every week. Title: Re: Cryptsy Fee Shares Post by: stas on January 06, 2014, 10:26:45 PM I own 112 shares of Cryptsy Fee Shares, that I bought at 0.05 when BTC and the equivalent USD value was about $20 per share. My total investment was 5.6 BTC and in USD at the time was $2240. Each week, though sometimes a little late, I have received a dividend payment that ranges from 0.0003 per share to 0.0008 based on 2.3 to 4.9 BTC in Fee Shares. In total I have earned 0.58 BTC from this investment since October. At current weighted average rate of BTC, ($825.70) this is roughly $478.91 USD. If I were able to sell all my shares at current trading values, it would return 39.2 BTC or roughly $32,341.57 USD. What gets interesting is if BigVern's projections come true of 10-20x growth once Fiat trading becomes available. Let's just say at 2.3 * 10, would be 23 BTC a week or about 0.32 BTC a week with my current shares, at today's BTC weighted value that is $267.61 a week. Now, if you look at the Winklevoss and Second Market ETFs, they are predicting BTC to hit values of $18,500 to $38,500 one day. I am then looking at a possibility of $5920 to $12,320 a week. (Who would have thought BTC at the start of last year would hit a $1,200? It's not impossible that it may one day reach those levels). I think the current price is probably undervalued, and people reacted to the offering emotionally instead of logically looking at the numbers and potential. You also have to look at that Cryptsy and Bigvern have filed registerings that are public record, posted office addresses, and have been working their ass off. MCXNow on the other hand hasn't done any of those things, is an anonymous person that suddenly shutdown the site after taking in a huge amount of BTC during their fee share offering... nice analysis. I hope it plays out that way:) Title: Re: Cryptsy Fee Shares Post by: IamNotSure on January 20, 2014, 03:11:34 PM Have you seen the volume on Doge since Friday ?
Next dividend will be HUGE ! I wonder why the price doesn't reflect that, but IMO it will soon retrace toward 0.3 Title: Re: Cryptsy Fee Shares Post by: rolo on January 21, 2014, 09:12:47 AM Have you seen the volume on Doge since Friday ? Next dividend will be HUGE ! I wonder why the price doesn't reflect that, but IMO it will soon retrace toward 0.3 Came in here to post this - Cryptsy must be looking to do very well out of the current DOGE craze :) Title: Re: Cryptsy Fee Shares Post by: MineNerd on January 26, 2014, 09:09:34 PM Nice dividend payment this week on Cryptsy fee shares!
Title: Re: Cryptsy Fee Shares Post by: gnomicide on March 15, 2014, 03:49:02 PM Have there been any updates on the licensing progress lately? There don't seem to be any announcements on the stock's page or on official channels.
Had I known of cryptostocks back when this was in IPO, I would have invested heavily based on Cryptsy itself. Now its main appeal is in the possibility of the MSB licensing going through, as the current dividends are pretty low (~7% APR) considering the risk/volatility. Title: Re: Cryptsy Fee Shares Post by: Chellger on March 16, 2014, 12:24:23 AM I don't know, but I wonder why the price of the stocks is falling so heavyly. There does not seem to be a real reason for that.
Title: Re: Cryptsy Fee Shares Post by: IamNotSure on March 16, 2014, 12:32:02 AM I don't know, but I wonder why the price of the stocks is falling so heavyly. There does not seem to be a real reason for that. I think that's because there is some sort of boycott from DOGE community... and since it represents a big share of crypsty profits, that explains the drop in the dividends. Title: Re: Cryptsy Fee Shares Post by: lynn_402 on March 17, 2014, 06:38:52 PM I don't know, but I wonder why the price of the stocks is falling so heavyly. There does not seem to be a real reason for that. I think that's because there is some sort of boycott from DOGE community... and since it represents a big share of crypsty profits, that explains the drop in the dividends. I think it's mostly because the price was based on speculation, for in case Cryptsy manages to add the possibility to buy BTC with USD. Share holders are beginning to realise this may take a lot of time to be added, so they are getting impatient. Plus I'm sure some people sell because they want BTC for some of the promising new projects on Cryptostock (Coinfarm, BitcoinQuebec). Title: Re: Cryptsy Fee Shares Post by: Chellger on March 18, 2014, 10:40:20 AM I like the "security" of Cryptsy. Cryptsy is one major exchange and according to cryptocoincharts.info it is the 6th biggest exchange. That seems somewhat "secure" to me. I guess I'll buy more stocks but I wonder how low it will get. Seems that there is no limit down atm.
Title: Re: Cryptsy Fee Shares Post by: IamNotSure on March 18, 2014, 07:09:19 PM I like the "security" of Cryptsy. Cryptsy is one major exchange and according to cryptocoincharts.info it is the 6th biggest exchange. That seems somewhat "secure" to me. I guess I'll buy more stocks but I wonder how low it will get. Seems that there is no limit down atm. With 2 BTC distributed each week among the 7931 public shareholders, it give a annual yield of 0.01311 / 10% with a share price of 0.1311 BTC IDK if I should jump in again, I like this stock but the ROI is so low, and no real growth on the horizon. Crypsty is quite secure, has always delivered, but I don't like the fees on cryptostocks and all the junk they list... Crypsty on Havelock would be a no brainer for me. Title: Re: Cryptsy Fee Shares Post by: winxp11 on April 26, 2014, 03:09:31 PM I don't understand why the volume of cryptsy increased twice or more, and dividends on shares IPO, decreased by more than twice?
When introduce USD? Already past month, and on this site next week next week, all the time |