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We have a customer base, already have a brokerage firm and the vast majority of the UK Bitcoin space (that we've spoken to) planning to use us.
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MrWDunne I would like to give you a BIG hug  You are a genius sir and have helped me with something i was trying to do for 3 months. Thankyou You are very welcome. I'll give any help if needs be, just drop me a message. |
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If no new bids within 24 hours, the auction is over.
I am still committed to my bid. Perfect, well you have 24 hours and if there is no new bids your one is the winner. |
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Looking for a forum member who could possibly act as escrow for an IPO we are doing. The role would essentially be holding funds until they need to be spent. These costs would have to be justified to yourself prior to doing so. For the security of shareholders.
Do not apply unless you have considerable rep either here or on OTC.
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https://bitcointalk.org/index.php?topic=448250.msg5501939#msg5501939You openly promote a known ponzi before. You may be sincere in trying to run a legitimate service. But I question your competency in decision making and project management. Please have a fully working platform before asking other for money and valuing a no profit, no sales company at 500k. And be transparent about who invest how much. There is a reason why it is called "IPO". When did I ever promote on ponzi? I once participated in one, which is gambling. Can't see any issues around that myself. Not that I like to gamble any more, though. I never threw more than $5 into it (regardless of what I said)Also we have a fully working platform, but thats different from complete. We just need to add various features to make it more manageable. As for the valuation, if we were to make a valuation based upon current assets and profits we wouldn't make enough to launch, in the same way as a lot of the BTC based companies that IPO here. The valuation is based on potential, and the performance of similar services. As well as the value simply held by our possession of a UK bank account. |
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If no new bids within 24 hours, the auction is over.
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If no new bids within 24 hours, the auction is over.
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MrWDunne:
Platform written in native language does not come cheap, and the support for multiple DB and redundancy aren't free. How long do you think $30k will last with service guarantee, reliability and customized feature? If you think you can do it at this price, go ahead and offer your service. Create your own post and offer your own service.
Working on my own exchange, so I kind of already have done as stated. $30k gets you a working, well tested service. Throw in another $5k for a bug bounty program and for future development costs and you're golden. I am well aware that its not free, hence the $30k And you value your company 500k without a working platform, no proof of license, and no idea how to handle security threat ? It only someone takes less than 30 mins for someone to identity sql injection for the open source project. Are you going to pay out all stolen coin out from your own pocket? It amazes me that you have managed to program any sort of platform. We don't need a license, this is the UK not the US. As for SQL injection, we know. Hence why we are having security checks done. We already identified one security hole and fixed that, and now we're looking more. Once it is finished we look for a professional firm to do so. And what is the total cost to get the platform running? To fix issues, handle hosting and security issue? Only another £7,000. Most of that is pentesting. |
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No, you don't need to get registered. The facts are accurate but they do not apply to us, that being said we are going to apply for that license but it is really only for appearance and at £50 no reason not to. Same reason why coinfloor got it. The FCA is responsible for licensing companies like ourselves, but we don't fit in the current framework. That being said they plan to add firms like ourselves to the framework in the future with "project innovate". |
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MrWDunne:
Platform written in native language does not come cheap, and the support for multiple DB and redundancy aren't free. How long do you think $30k will last with service guarantee, reliability and customized feature? If you think you can do it at this price, go ahead and offer your service. Create your own post and offer your own service.
Working on my own exchange, so I kind of already have done as stated. $30k gets you a working, well tested service. Throw in another $5k for a bug bounty program and for future development costs and you're golden. I am well aware that its not free, hence the $30k And you value your company 500k without a working platform, no proof of license, and no idea how to handle security threat ? It only someone takes less than 30 mins for someone to identity sql injection for the open source project. Are you going to pay out all stolen coin out from your own pocket? It amazes me that you have managed to program any sort of platform. We don't need a license, this is the UK not the US. As for SQL injection, we know. Hence why we are having security checks done. We already identified one security hole and fixed that, and now we're looking more. Once it is finished we look for a professional firm to do so. |
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3) If an exchange gets hacked, people lose money. Thats why we need security. Colocation is hosting not security.
Since you are running an exchange, what is the nature of this hack? How does people actually lose money? What measure is taken to prevent this kind of "hack"? Have you not been following the news. All of the break ins at various exchanges/services resulting in the loss of their funds. Just to clarify, by exchange we mean a service like BitStamp, which holds the coins and fiat and allows people to trade. As for how we prevent it, we find the security holes before the bad guys do and fix them. Of course I follow news. For an exchange operator, I just like to know if you know the specific nature of security threat. And have measure in place to prevent and minimize it. And not playing with fire. The fiat, if you have license as you claimed, will be sitting in your bank account. It is pretty obvious that no one can "steal" or hack the fiat sitting in your company bank account. Which leave the coin wallet the source of vulnerability. When customer deposit coin in, how was the coin being handled? And what is the withdraw policy for coin? Fairly standard, presuming the funds are in the hot wallet it will be withdrawn to their address. The cold wallet is a 2 of 3 multi-sig address. |
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3) If an exchange gets hacked, people lose money. Thats why we need security. Colocation is hosting not security.
Since you are running an exchange, what is the nature of this hack? How does people actually lose money? What measure is taken to prevent this kind of "hack"? Have you not been following the news. All of the break ins at various exchanges/services resulting in the loss of their funds. Just to clarify, by exchange we mean a service like BitStamp, which holds the coins and fiat and allows people to trade. As for how we prevent it, we find the security holes before the bad guys do and fix them. |
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1) The started date of this IPO dated April 24th. The link you provided belong to someone else. How much longer do you need to let potential investor see a fully functional working platform?
2) Campbx, based in US, has a fully functional exchange (and customer) without the license; Cryptsy (US based) also have a fully functional exchange that is running without license to handle fiat, why Cryto Financial approach you and not them?
3) The exchange platform, is just a front end portal to run the trade engine and account for balances. What is this security issue you speak of which need co-location? What is the nature of security threat for an exchange?
4) You have not address the issue of competitive advantage. For any user currently using an exchange out there, why would anyone use a brand new exchange without trust? Bitstamp is located in Euro zone, SEPA transfer already work for bistamp. As for people in Australia, they can use itbit, bitfinex and coinjar with same 1 day wire transfer. Merchant service is already covered by bitpay and coinbase. And margin trading is covered by bitfinex.
5) The 8.5 btc worth of dividend, how do you derive this number? What volume and fee are needed to get this amount of dividend? Is the 8.5 btc being divided by the 500k company valuation (which amount to around 1% ROI). Also, what is the expected monthly expense to run a exchange capable providing 30% RoI?
6) Since this is an IPO, can you provide the names of those who already joined in? That could instill confident to those who may want to join in.
1) We're now a month away from launch. We should have the platform finished (from your perspective) in about two weeks. We'll still need some security and back end work done though. 2) They didn't approach us, we approached them. They will accept multiple exchanges. As for why we have been speaking with one of their board members for about six months, they advised we use their services. 3) If an exchange gets hacked, people lose money. Thats why we need security. Colocation is hosting not security. 4) I did address the main advantage for the UK market. Trust shouldn't be too difficult, just time and features. For example proof of solvency. 5) Received 8.5btc in investment so far. All profits go to those who invested until they earn ROI. 6) No, I have no names. I don't want to know names, I don't need to know names. |
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MrWDunne:
Platform written in native language does not come cheap, and the support for multiple DB and redundancy aren't free. How long do you think $30k will last with service guarantee, reliability and customized feature? If you think you can do it at this price, go ahead and offer your service. Create your own post and offer your own service.
Working on my own exchange, so I kind of already have done as stated. $30k gets you a working, well tested service. Throw in another $5k for a bug bounty program and for future development costs and you're golden. I am well aware that its not free, hence the $30k |
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Any plans for a LTC dice site?
LTC? Ew, no! Just to add my 0.02, I would invest in LTC dice, at the moment my LTC is just sitting dormant. A lot of us would Doge has a huge community but LTC has a big one as well Problem here is that LTC community is delusional, as opposite to doge community who (I hope) are in it just for the lulz. LTC fans are seriously convinced that LTC is [innovative|the next big thing|silver to Bitcoin's gold] or other crap like that, while reality is that it's just a copy+paste coin like dozens and dozens of others. Actual worth: ZERO. doge is another copycat, but it's born from the lulz, for the lulz. Its innovation isn't in the coin per-se, but in a bizarre "marketing" which is basically "we know it doesn't make sense but lolz". So it's a joke, but its fans know it's a joke, so it's fine. Disclaimers: 1. I'm not sure if this is doog's line of reasoning as well 2. Likely I won't bother to reply to LTC delusional fans Scrypt, GPU proof tm |
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Sorry if this has been asked/answered already, are those accounts traditional UK based bank accounts, or Isle of Man/Guernsey type accounts?
UK bank account. Not that it would matter, they all have Faster Payments I only ask, as Marc Warne (Bittylicious) apparently still cannot get a standard UK bank to entertain his business after nearly a year of trying, going by his recent BBC Radio 4 interview. I know, neither can CoinFloor (so far, anyway) or any of the other exchanges that have attempted it. Care to share, how you have managed to secure this banking arrangement? Friends and family, were of considerable help. That and having a dialogue with them being frank about the risks but describing how we will get around them (essentially the risks are reputation and money laundering). |
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I just saw this and I thought if I can get ROI at the same time as helping to get a good UK Bitcoin exchange then why not.How do I buy shares from you and how much are they each?  CounterParty or Colored Coins. To give a good description: 1) Go to CounterWallet.co and create a wallet *write down the seed* 2) Send some bitcoins to one of your addresses (doesn't matter which) 3) Click buy/sell, put I would like to buy DUNNECAP for BTC 4) Type the number that you want to buy *note, you need something like an extra 0.5% to cover fees* 5) Confirm it, and leave the wallet open until the DUNNECAP show in the wallet. 6) Import the address you used into your bitcoin wallet, thats where the dividend payments will go. |
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Sorry if this has been asked/answered already, are those accounts traditional UK based bank accounts, or Isle of Man/Guernsey type accounts?
UK bank account. Not that it would matter, they all have Faster Payments I only ask, as Marc Warne (Bittylicious) apparently still cannot get a standard UK bank to entertain his business after nearly a year of trying, going by his recent BBC Radio 4 interview. I know, neither can CoinFloor (so far, anyway) or any of the other exchanges that have attempted it. |
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