Bitcoin Forum

 
Our fundraising is over. Unfortunately we were not able to sell a sufficient amount of shares. We will return all of the coins to their owners. If you have invested - please send an email to us with a Btc address to receive the coins. Please use the same email from which your confirmation was sent.

We are building a fast, reliable and scalable exchange, which will compete with the best players in the market.

We believe that Bitcoin and its successors will be a significant part of the world’s economy, and we are planning to be a part of it too by building services that will benefit all of the users and will make the transition to cryptocurrencies as friendly as possible.

There are many successful IPO stories of exchanges already but few of them were proven a reliable investment. Cryptoniac will start as a crowdfunded platform and by implementing a voting system combined with transparent financial activity for its shareholders will ensure the fairest relationship between investors and developers.

By analyzing the share prices of existing exchanges it was decided that the initial share price should give everyone the opportunity to buy in during the first funding period.

After the first funding period is finished, we will decide which securities trading platform will best suit our needs and release the remaining shares.

This listing will only become effective if at least 100,000 shares are sold. If the 100,000 shares are not sold by 28th February 2014 then all funds will be returned to investors and this contract will be null and void.
 
Overview
A trading platform/exchange for crypto and fiat currencies with the following possibilities/features:

- buying/selling of BTC/LTC/EUR/USD and other high volume currencies. More will be added by voting.
- trading API
- many other features will be picked via the voting system.

Our aim is to build a fast platform with reliable and quick deposit/withdrawal services.
 
The Listing

A total of 1,200,000 shares will be issued.
40% of these will be made publicly available = 480,000 shares.
51% will be distributed between the 3 founders = 612,000 shares with a 12 month lock-up period.
Up to 3% of the shares will be granted to the programmers who will work on the project during the startup period.
6% of shares will be reserved for the employees of the company (not the founders, but programmers, lawyer etc.) for 12 month. Shares not bought by employees during that time will be made available publicly.

Share Price
The first 120,000 shares will be sold in 6 batches:

Shares # 1 – 20,000 will be sold at a price of 0.00005 BTC each. Sold
Shares # 20,001 – 40,000 will be sold at a price of 0.0001 BTC each. Sold
Shares # 40,001 – 60,000 will be sold at a price of 0.0002 BTC each. - 4168 remain
Shares # 60,001 – 80,000 will be sold at a price of 0.0005 BTC each.
Shares # 80,001 – 100,000 will be sold at a price of 0.001 BTC each.
Shares # 100,001 – 120,000 will be sold at a price of 0.002 BTC each.

Bulk Discount
For a purchase of more than 0.05 BTC you will receive +1% more shares.
For a purchase of more than 0.1 BTC you will receive +2% more shares.
For a purchase of more than 0.5 BTC you will receive +5% more shares.
For a purchase of more than 1 BTC you will receive +7% more shares.

1 Share for Sharing
You can also receive 1 share for free by providing a link to this post in a tweet, facebook/forum post etc. Only 1 share can be obtained this way. Please include the link to your post.

10 Shares for Translation
We will award 10 shares for each translation of this topic to any other language. Please post the translation and a link to this topic in the corresponding local forum of bitcointalk, and reply here.


The listed will own:
- the source code, its customer base as well as wallet balances.
- the domain name.
- hardware.
- a right to vote for new features/currencies/development etc.
 
Operation costs
The money accumulated from sold shares will be used to cover operational and advertisement costs, this will include the salary of the employees, registration of the legal entity, hardware and hosting services etc.

Operation costs for the first 6 month are estimated USD 60,000.

Dividend
The monthly operating profit will be paid out as dividend in the first half of each month after the system goes live (beta). The security issuer will not be entitled to dividends for a period of 12 months after the listing.

Share Buyback
The security issuer has no right to buy back the shares.

Risks
You must consider this investment a high risk investment with a high probability that the expected returns will not materialize or even a total loss if the investment.

There are many risks of running an exchange service, some of them are:double spending attacks, government legal actions against the entity or its founders, website attacks etc.

Please don’t risk more than you can afford to loose.

The team
Our team currently consists of 3 company founders, 1 lead programmer and 2 programmers, all of whom will be working full time for this project.

Time Schedule
February
- First funding period

March
- Registration of legal entity in a tax free country with a low level of regulation.
- Release of remaining stocks to public (e.g. on cryptostocks.com)

April
- Alpha version of the exchange (only for shareholders for testing purposes).

May
- Closed beta version of the exchange (only for shareholders).

June
- Beta version of the exchange working live.

We hope to present the final version end of July

How to invest
During the first funding period please send your investment to the following wallet:

BTC
1JynRVDKL3WeuufYqmFXamgGEysT6PmWpV

Please confirm it with an email containing the transaction id to the following address: investment at cryptoniac.com

The list of investors will be stored here (please specify if you want your name to be public on the list):
https://docs.google.com/spreadsheet/ccc?key=0Asej-zxRCkaQdERzVl9keE5iWVdqaU1CQlB6OXhDZkE&usp=sharing (https://docs.google.com/spreadsheet/ccc?key=0Asej-zxRCkaQdERzVl9keE5iWVdqaU1CQlB6OXhDZkE&usp=sharing)


After the first funding period is over we will choose a suitable securities trading platform and move your shares to your account.

ESCROW
We are currently looking for somebody who can provide an escrow service for our investors until the project is listed on a trading platform. Please reply in this topic or PM.

Hello,

I will not be sending BTC to your investment address.

Ok, you will be able to buy some shares later on cryptostocks.

Sent

Update: first 20,000 shares are sold.

Is this the new version of the fake coin IPO?

"I will make an exchange with no proof of actual work, no information about the founders etc and expect people to send in BTC"

If you calculate the total amount we are expecting to collect for a successful start you will realize that it's not worth the risk of running away with it. :)

Question,how many shares total,1200000shares or 120000000 shares

Total of 1,200,000 (one million two hundred thousand) shares.

10% will be sold now, then we will move to cryptostocks or a similar platform.

Seems interesting! Will you please state upfront how much does this need to get started? Like 10BTC or what?

So that's how IPO Scam 2.0 looks like.

99% chance of scam

We need to sell at least 100,000 shares.

How much it USD?

Update: for additional promotion we have decided to award 10 shares for each translation of this topic to any other language. Please post the translation and a link to this topic in the corresponding local forum of bitcointalk, and reply here. I will add you to the list.

When will it be possible to sell shares?

As soon as we are on Cryptostocks. Maybe there will be a short period with only buying allowed, we will have to decide what's best.

Second block of shares nearly sold - only 5000 shares remain.

Tomatocage is late again? Too many scams or he's sleeping too much..

Bad news:
We have received a negative trust warning from a user here, you can read it below:
We agree that an escrow service would benefit everybody until the shares are listed on a trading platform, but unfortunately it is not clear which escrow could be concidered safe for our investors and us? The user escrow.ms provides such services but he did not send us any money so this kind of approach could be concidered as blackmailing.

Good news:
You can now receive a share for free by providing a link to this topic in a tweet, facebook post etc. Only 1 share per person. Please post the link here so we can check it and add you to the list.

You can also help us translate the main info to any language and receive 10 shares.

hope not scam

I've lost many to scam operators (WeExchange / Bit Funder) and now I can lose money to the operator before the exchange even goes live? Wow that's fantastic.

These IPOs sure are popping up all over hte place and wow, do people ever throw a lot of bitcoin at them.

This guy is trying to make a profitable exchange that will make him a lot of money and he wants you to pay him to develop it (???) and host it.

It doesn't cost that much to start in exchange in terms of money (if you are a developer). You don't need that much hardware either. I doubt the guy who made the mcxnow exchange had anymore than a single computer to host it from at first.  THat reminds me, I wonder what happened with that IPO, I honestly haven't check since it happened...

"A total of 120,000,000 shares will be issued.
40% of these will be made publicly available = 480,000 shares.
51% will be distributed between the 3 founders = 612,000 shares with a 12 month lock-up period."


excuse me, but 120,000,000*40%=480,000???

 ::) ::) ::)

lol.

'Escrow is blackmailing me. I don't trust escrow, it will take advantage of me.'

This is a rather innovative approach. You really brought something new to the world of scams, stranger on the internet.  

Maybe you should make some research before sending money to everybody. Even a working project could be a scam, check this out: https://bitcointalk.org/index.php?topic=176637.0

We are working to make an exchange that will make all of us money. It does cost much to develop an exchange, it costs even more if you want to make it legal, and even more if you want it to be safe.

• Mcxnow who sold a lot of shares for 0.2 BTC and stopped the exchange for 6 month?
• Vircurex was hacked, shares lost value, no dividends
• Coinex selling shares but will start paying out dividends only in May
• Crypsy shares cost a lot, if you want the dividends to cover the price you'll have to wait 50 years

Thanks - fixed  :D

I've sent several messages to the people who provide escrow services and I hope we will add that soon.

Page in russian here: https://bitcointalk.org/index.php?topic=450492.new#new
How i can get my shares?

Great! Your name is on the list.

Update:

• Only 10,000 shares from the third block remain unsold.
• We have a reply from Cryptostocks, so after the fundraising is finished we will allocate all the purchased shares to investor accounts where you can trade them freely.

Please, if you can recommend en escrow service PM us the contact - we want to include this option for our investors.

Update:

Our project was approved at cryptostocks. Buy now, while it's still cheap!

link please

We will create a listing only after the fundraising is finished here: 1st of March.

Update: Third block - only 4168 shares left.

We are still looking for escrow: https://bitcointalk.org/index.php?topic=451874.0

Hello!

So how are you going to promote your exchange?

why no body respond

You can find the escrow at https://bitcointalk.org/index.php?topic=426303.0
anon136

Our fundraising is over. Unfortunately we were not able to sell a sufficient amount of shares. We will return all of the coins to their owners. If you have invested - please send an email to us with a Btc address to receive the coins. Please use the same email from which your confirmation was sent.

Will you guys do the ipo again?

When can the  invester  receive the coins?

We apologize to all who is waiting for the BTC - we will send the BTC back tonight.

Still waiting

I received my btc this morning

me too

All coins now sent to their owners. We will start a project on cryptostocks soon.

Thanks to everyone who supported us!