Bitcoin Forum

A situation has dawned in which some information not previously known to me has come up, hence for no I am steeping back from this project and from this IPO. It no longer has my support or my encouragement behind it until some things has been cleared up, really sorry to all the investors and that I had to go back on my words (which I try to never do) but in this case it was necessary.
//DeaDTerra

Great news, and great expected profit.

The link to the google docs seems to be broken (it points toward an untitled document, not sure where the problem comes from).

Looking forward the IPO :)
Raphy

Thank you, seems like I screwed up with the link. It should be fixed now :)
//DeaDTerra

GLBSE Link ?

I suggest you change the permissions on the Google Doc before it's too late.  ;)

It will be linked in a couple of minutes :), The issuer is waiting on the 6 confirms on the 8 BTC :P
//DeaDTerra

Thanks for the warning it will be done asap :P
//DeaDTerra

Hi

Just the normal question that's normally asked. What insurances are there that if things do not go to plan that I will get my initial investment back?

Thanks

Please see the message,
https://bitcointalk.org/index.php?topic=88902.msg979814#msg979814
Regarding my current position.
//DeaDTerra

Ok 1 more thing

http://media.giantbomb.com/uploads/1/18622/1804131-shut_up_and_take_my_money_.jpg

Could not resist

I was just thinking this as I PM'ed DT.  ;D

Why not a clause like "either twice the price of the previous 120 hour average market price or 0.103 BTC, whatever is higher"? Otherwise you have a strong motivation to dump share prices after some time, keep it down for 120 hours and then buy back cheaply. Also if you say 3% interest, you mean 3% of 0.1 BTC which is the value of each share. It would only make sense that you can buy them back for that price too (at a small premium maybe) and neither overpriced (twice the price) nor under the face value.

Also please include a clause how you'd handle expansions of that bond (let's say you want to issue 10000 more bonds) - at which price will they get into the market and will you pre-announce this?

Also the usual:
Current pirate exposure? Any planned future pirate exposure?

I second this!

What about about possible BTC price increase. Will you still able to pay 3% per week in BTC let's say a year later?

I second that question about buyback price. Rather do it like Goat does in his Tyggr-bond-B. This is too risky for investors as well as for you possibly too.

Hi,

Developer of the site here, i would like to ensure everyone that all payments will be honored and the platform already started to be profitable. Of course volumes need to grow, but the profit generation mechanism is proven. Additionally we will be adding Bitcoin margin trading in the next 12 hours as an additional profit driver. Thanks anyone for watching, questions and feedbacks are welcome.

Alberto Armandi

Nice. Will be getting a few of these  :)

Curious about these questions as well.

And subbed.

It will be a nice investment opportunity for GLBSE investors if it's fully worked out.

But there are something that's not included in the google doc page. That is, I don't know which one of the following is true.

1. Alberto is the sole owner of BitDayTrade. Only he is responsible of repaying. You are the investment bank/PR for him.

2. Both Alberto and you own some shares of BitDayTrade. You are partly responsible for this bond.

I have to ask because it does make a lot of difference.

I might have missed it but when is the IPO?

Please include a link to your GLBSE page in OP.

In the google doc: 24th of June 20:00

This is relevant to my interests :)

Thanks for that, I really can't read.

https://www.glbse.com/ipos

I don't see it...

It's not up on GLBSE yet as far as I know.

Waiting for it to be approved.

Just a quick logic question.

If he has funds on this scale, then why does he need to borrow money from a few Bitcoiners at high interest in the first place?

Companies, capital, and assets != BTC. It's more like saying, "I need BTC to pursue business ventures, but if something goes awfully wrong, I'll sell my third car to pay back my investors" than saying "Give me money. I don't really need it, and I won't invest it, but I'll pay interest".

He needs a large,regular, liquid supply of coins? Also one way to get people committed to the success of your venture is to adequately compensate them.

Requesting more disclosure.


Is this still happening?

+1

Dunno what's going on behind the scenes, but: https://glbse.com/asset/view/BDT

Also, the document linked from https://glbse.com/ipo/136 is basically deleted. Launch date is supposedly: 2012-06-25 20:00:00

Since he's apparently claiming/operating REBATE, will he also be paying dividends on that bond?

ETA: Oh -- missed OP edit.

Hi,

The IPO is still happening and rebate is set to be launched within 12/24 hours. Payments of dividends will start this week.

So are you going to shed any light on why it's no longer endorsed by the OP? As an investor, it makes me feel kind of queasy

The OP misunderstood that i was in charge of rebate too, and the project delayed too long, that caused him financial losses and he's willing to step out until we have a clear situation, with bitcoinrebate up and running. I'm identify verified on GLBSE and pretty well know on the internet by the way, if this can ease your feeling of queasiness.
On top of that bitcoinrebate.com will be up and running tomorrow before the IPO.

Cheers
Alberto Armandi

For any pre-sale request, get in touch by mail at info@bitdaytrade.com and we will arrange a Skype chat or call, or get me on the phone at +85281721048
Another update, next week BDT will be expanding considerably the number and nature of commodities offered for trade.

Are you going to verify on glbse ? While Ludvig is trustworthy I dont know Alberto and untill we find out why Ludvig left the project I dont think I can invest. Disclosure is needed and verification on glbse will help too.

I already explained the reason, i got it directly from Ludvig, by chatting with him on skype. I won't paste chat logs here, i will ask him tomorrow to clarify this. As already said, i'm ID verified on GLBSE (sent passport), you can check the verification tab at https://glbse.com/asset/view/BDT (https://glbse.com/asset/view/BDT).

Here is my linkedIn profile :

http://www.linkedin.com/pub/alberto-armandi/11/a74/b27 (http://www.linkedin.com/pub/alberto-armandi/11/a74/b27)

I'm CEO of Enso Limited Hong Kong,the profile is regularly updated and i have connections with some important companies CEOs and individuals that i happened to know during the Enso Limited endeavour. During said endeavor we had to face thousands of angry customer because of delays in shipment of products, and i think we did a good job if Engadget kept on reviewing our devices for months after we've launched the first iteration. You can read about that on the link you'll find at http://www.enso-now.com (http://www.enso-now.com)
 
Here is also my Google,twitter and facebook profile :

https://plus.google.com/110728464989415539084/about (https://plus.google.com/110728464989415539084/about)
http://www.twitter.com/albertoarmandi (http://www.twitter.com/albertoarmandi)
http://www.facebook.com/alberto.armandi (http://www.facebook.com/alberto.armandi)

I'll also post soon a detailed curriculum vitae but my linkedIn profile, as said, is almost up to date.

Moreover if you'd like a more direct contact, i'm available to talk on the phone from 9.00 AM to 24.00PM Italian GMT+1 Time

Cheers
Alberto

You and your company took so much beating on engadget (http://www.engadget.com/tag/zenpad/).
It's really a surprise you've decided to put that link here. Looking at the given record and the names they've been calling you, you really expect someone to trust you with their money, while there's a possibility to be delivered more of the same?
After OP backed down with obscure reasons I've rarely found in legit business and information revealed in your post, I might as well go with the pirate.
At least I don't know what he's doing and no one called him a liar yet.
Thanks for being upfront with such information. It was a great help having such insight while deciding on your IPO.

As an owner of REBATE shares, the delay in REBATE doesn't give confidence. It is nice if it starts working soon, but I personally would like to see it run a while and generate income before I invest in another project from the same owner...

Beating is normal on Engadget for a small startup, standards are very high. The companies they post the most about are big names, with billions in cash. Anyhow, this IPO is based on a real business, that will grow with time. I have provided these kind of extensive informations because i don't have anything to hide in my view, and i do believe in transparency. I wish you best of luck in investing with other ventures.

Any chance to change the contract or respond to questions why the buyback clause states: "The issuer has the right to buy back,at any time, all bonds issued for twice the price of the previous 120 hour average market price."
Do you expect the bond price to devaluate at some time in the future (for example if you stop paying dividends). Why not buy back the bonds at the original IPO price? It's basically a debt with fixed interest rate.

Actually i don't know manage directly REBATE asset, it is managed by a trusted third party. I'll test run the site for about a week before it's handed over to the new management permanently.  

The reason why I decided to back of from the project for now is due to that I received the information that Alberto was main developer for Rebate, a project that has cost me reputation,time and money. I don't like working with people that leave lose ends hence I decided to back off from this project for now.
//DeaDTerra

This is very important, and your reaction is understandable. I dove into REBATE after your announcement and still waiting for it to become a success. I can't see any reason why it couldn't be launched later, or why more information couldn't be provided afterwards regarding its future.

I think I'll invest in BDT too, but I hope we'll get more transparency and professionalism from now on.

The difference is that BDT is supposed to give 3% on face value in any case. REBATE won't give anything until its up and running.

Plus it sounds like he is only the developer of REBATE but completely responsible for BDT.

I agree that his linkedin profile does not inspire confidence and the information out there on Enso is not very positive.  Perhaps this is why he must borrow BTC at a rate of 3% per week.

IPO postponed to Tuesday 26 at the same time.

Why? Again, this is not confidence-inspiring.

Because rebate will be up and running tomorrow morning, i'm doing last test rounds. It's very related to this IPO as you must have learned. It should rather be confidence-inspiring, since i'm finishing a project which lamented long unacceptable delays before launching a new IPO.
Care to explain what you mean ?

Cheers
Alberto

I mean Rebate long suffered delays, so having delays in BDT... does not make me feel warm and secure.

These delays we're looking at are very different in nature. REBATE was delayed due to development work rescheduling while BDT is up and running, and i'm delaying the IPO to mantain my word that Rebate shall be up before BDT IPO. Makes sense ?

I am currently in talks with someone else to take over the role of managing this IPO.

Since we have not yet finalized the terms and due to some important changes that need to be made in the contract, trying to go forward with the IPO today as previously mentioned would lead to too much chaos.

I will delay the IPO until I'm confident we can carry it out properly, which I hope will be in 2-3 weeks. Our potential investors deserve more than a rushed IPO.

I'm sorry for these delays and the confusion caused, and thank you for your patience.

Alberto

Rofl, now I know that this security will stick to its word.

At least I can comfortably cancel my bids and retrieve the BTC for a few weeks

All I can say is...Jeez........

Will there still be pre-IPO sales?

The bond offering is relaunched, and has a new thread - https://bitcointalk.org/index.php?topic=93445.