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Title: what the hell are crypto stocks? Post by: seejeffrun on March 01, 2014, 07:21:30 PM cryptostocks.com
What the F is this? Are these supposed to be real stocks for sale? They don't even verify that it's a real company. You just have to make sure you have an email address that matches your website domain, and you can sell stock. If you buy stock, how do you know you're getting real stock, and a real percentage of the profits? If I'm a company and sell stock, since I'm not registered with the SEC, what will prevent stockholders from suing me if my company loses money? Don't get me wrong, I'm very fascinated by the idea of using bitcoins as a way to finance new startup companies. There's a lot of cumbersome regulation with SEC if you're a company that wants to sell stock. I'm just trying to understand how cryptostocks work, as the website sure doesn't seem to explain much. Title: Re: what the hell are crypto stocks? Post by: superduh on March 01, 2014, 07:24:21 PM SEC is a united states agency.
Title: Re: what the hell are crypto stocks? Post by: Vitamin on March 01, 2014, 07:31:10 PM We have no idea what country's laws apply to these people because they're owned by Vircuex. Like the OP I fail to see how exchanging currency can be turned into company stock. Which company? Who am I in debt to if I do this? This reeks stronger than hotdogs in garlic sauce.
Title: Re: what the hell are crypto stocks? Post by: Stephen Gornick on March 01, 2014, 07:52:32 PM I'm just trying to understand how cryptostocks work, as the website sure doesn't seem to explain much. This is an old post (refers to GLBSE, a "cryptostocks predecessor") but the message is the same: Quote Investors seem to proceed with the belief that these “asset” listings closely resemble the concept of stocks or other security investments made in the regulated world. We might blame Kickstarter for that. Kickstarter in its initial form is a platform that simply allows a donation towards a project where the donation earns some type of reward. Without there being equity there need not be the concept of a corporation or LLC as issuer. Equity markets are not equity markets without the concept of a corporation or LLC where ownership can be shared by its equity investors. Without this concept of a corporate entity or LLC there is then little parallel between an asset listed with GLBSE and a company that trades on a regulated exchange. But when a GLBSE “asset” fails financially or the issuer defrauds, some investors feel the issuer has responsibility for the capital invested into the cyber-equity. These investors may believe that there is responsibility that extends to the real world. Already occurring is evidence of pressure by investors being applied against individuals who had been issuers of assets where financial losses were the result. - http://bitcoinmoney.com/post/23499116232/glbse-stock-market |