Bump.

One more week till end of IPO.  Still have quite a number of shares to be sold.   Support the Alt-Chains buy buying a share or two of Vircurex.

Help toi grow Vircurex by buying its shares on https://cryptostocks.com

The end of the IPO is end of February.

Details of the contract can be seen here:
https://cryptostocks.com/securities/34

The cash from the listing will be used for the operations costs (hosting, legal entity, etc) only.  My efforts will be compensated from the dividends of the shares I hold and the increase in share value over time, thus I have the utmost interest to make this a success.

Support for Terracoin has been released.

The minimum transaction size must be 0.0001.   If your trade is smaller than that then the buttons are disabled.   Did that solve it?

I released TRC trading on Vircurex. 

Update on the listing.

We have two positive news for the listing of Vircurex.

1. The license fee costs for the platform has been reduced by 200BTC.
2. The cost of BTC/USD has changed in a favourable way, i.e. we will require to raise less BTCs.

Assuming the BTC/USD remains at its current level, we'll adjust he listing as follows:

   Total number of shares issued:   31,000 shares
   Total publicly listed/traded shares:    9,300 shares

Haha, this is a full time job, just answering the threads already takes up 50% of my time. The other half, well I'll be putting up a "Developer's log" so you guys can see whats going on and whats going to happen.

No worries, full disclosure and transparency.
No.
The current costs are not comparable with the planned setup after the listing. First of all, there will be the incorporation which will cost money to establish and maintain, then we have the various development activities that are required afterwords to incorporate payment processors. Also support for Linden Dollars is planned, that as well will require efforts and funds.
The systems are run on a VPS, thus no server infrastructure is required. All development infrastructure will be provided by myself, no assets required either.
The assets owned are primarily intangible assets (domain name, license for the platform).
This is understandably most difficult to predict. Yes, assuming a quarter on quarter growth of merely 10% you get 4% yield. The 10% growth is my expected bottom line, with the incorporation and thus access to more financial services as well as selected marketing activities and a more agressive referral system we should be able to grow way beyond that rate. If we are to make a dividend yield of 4% to 8% then we are very well within the parameters of a mature market.
Yes, and thats why we intent to convert all BTC right away after the listing into USD to eliminate any future currency fluctuations.

No it is not owned by Vircurex. Are you suggesting that Cryptostocks should be listed too?

Only the expenses will be converted, as most of the services that we require cannot be purchased (yet) in Bitcoin, e.g. incorporation.  The income will of course be paid out in BTC.
Selected members of this community seem to have the impression that running an online Bitcoin Exchange is a fully automated platform where all I need to do is collect my income once a month. The shocking truth is that this is not the case. It is a very time consuming business, daily monitoring of security logs, backup validation, user inquiries, account reviews, AML/KYC activities, further code developments and improvements, marketing, etc.
Yes, whilst the 30% of the shareholder bring in the cash for the initial period, the operators of the platform bring in amounts of time and personal committment that can't even be expressed in $. The operators have the utmost interest to make this a success, as they will be looking back at months and years of invested time. For the typical average investor, the risk is limited to the Bitcoins he decided to invest.
As quoted in other posts, if this investment is too risky for the average investor, buy only one or two shares for 0.25BTC to support the Alt-Chain Exchange.

The public traded shares can be seen on Cryptostocks.com. To further enhance credibility, I will be moving the collected funds from the share sales to a fresh BTC address and publish it here. That will allow anyone to validate that the amounts have been in fact collected and then will be moved to the respective exchanges for conversion to USD.


And that is exactly what we are addressing here, one of the very first steps will be to incorporate Vircurex, just as the named examples.

With immediately I mean, once we have sold the shares, right after that I will convert it (BTC-E, MTGox, Vircurex, whereever to get it converted). To make this clear, all profits (or be it cost savings) wherever they might come from will be made public and will come to the benefit of VCX.

In case you guys are not reading the Market section: Vircurex.com is going public on https://cryptstocks.com

Details at https://cryptostocks.com/securities/34

Help support the multi alt-chain exchange by becoming a shareholder (for as little as 0.25BTC per share).

Initially that was the default setting but after many users "complaining" that the screen looks to crowded we defaulted it to BTC only.

The chain of arguments is getting too complicated, lets me "streamline it":
I am forming a company (Vircurex Ltx?) which will acquire the current trading platform and its business from its current owner (for 1500BTC). I am offering to sell 30% of the company shares to the public (Face value being sold 3375BTC). 70% I will be holding. For the first one year, I will not be collecting any dividends, all of those go to the 30% shareholders.

As for the valuation 30%/70%/3375BTC:  As with any startup, the valuation of the company depends very much on its the outlook of its future business. And that is something each and every investor needs to judge by himself.


Each exchange is focusing on different services, both quoted exchanges are primarily focusing on BTC trading which of course Vircurex is providing too in addition to the other virtual currencies (currently only Bitcoin deviates, but I am also looking into Lindens) which in its depth is unique on the market.


On the asset side we have:
 - Domain name
 - License for the platform
 - 4700 registered users, 2020 who have logged on in the last 3 months, 1060 who have logged on in the last 4 weeks, 880 who have a BTC balance on their account.

Let me reiterate, the vision is to create a fully transparent community driven exchange supporting Bitcoins, the Alts and possibly other virtual currencies. I'll be publishing all details of the monthly expenses and revenues on the Vircurex's page.

But like with any other investment, don't invest what you can't afford to loose.  If you are not planning to invest (yet) then support the continuous Alt-Chain exchange platform buying a share or two.

Some clarifications on the questions:

1500BTC license / business transfer:
The onetime fee/investment of the business to acquire a license to use Vircurex as well as handover the platform with all data, and yes, Vircurex is currently privtely owned by myself. This listing is about transforming this venture to the next level.

30% /  70%  Share Ownership:
I am selling 30% of the shares to the public, thus 70% remain my property which I intend to keep. Not sure what the reference to GLBSE is about, but this is a common approach for many startups, you issue shares for a fraction of your enterprise, while retaining control by holding the majority of the shares. With myself being a major shareholder, I will naturally take all decisions in the best interest of the company.

Costs:
The states costs of 1575BTC over 3 years is the upper limit I foresee, assuming that the Exchange develops within the foreseen parameters. Should it go beyond our expectations then the increased revenue will be managed to pay for the increase hosting costs. A large scale of the costs are fixed costs (server hosting, yearly fee for up-keeping a legal entity, SSL certificates, eMail service, remote site backup service, etc.).  The calculations were made based on a BTC price of 20USD.

Business development:
Obviously the 11BTC will not suffice to run a full blown legal entity, hence various plans are in the working:
a) Incorporating Vircurex: We cannot deal with payment processors (e.g. BitInstant) as of today because their prerequisite is a legal entity.
b) Expanding funding options beyond our current options (e.g. Liberty Reserve, BitInstant, etc.)
c) Marketing /Ads, thus the budget for that
d) Expanding the supported currencies, again here a) is important
These are just to name a few.

As stated, a breakeven is at ~170 BTC trading volume per day, I believe that to be a reachable target long before the 3 years.

Complicated?  Once you get the hang of it rather not, sophisticated, surely yes.

But back to your question, how to trade.   Per default the BTC/NMC trading page appears. If you want to trade any other currency pair, just click on that currency pair in the box on the right hand side, e.g. BTC/DVC.

By the way, we offer any-2-any trading, you could trade e.g. NMC/DVC. In order to activate those, go to your user settings->layout and uncheck the box infront of "Show only BTC rates". 

Hope this helps.

Vircurex will be listed on https://cryptostocks.com

See announcement under security forum for details: https://bitcointalk.org/index.php?topic=140700.0

Note:
This listing will only become effective if at least 10,000 shares are sold. If the 10,000 shares are not sold by 28th February 2013 then all shares will be purchased back at the face value of 0.25 BTC per share and this contract will be null and void.

Overview
Vircurex is a privately owned trading platform for virtual currencies, it supports buying and selling of Bitcoins and many of its derivatives. The platform offers:
 - trading (buying/selling)
 - underwriting options
 - coupons
 - full trading API

Virtual currencies can be purchased using Euro or USD. Additional currencies are planned.

Objectives of the listing
To facilitate the further development of the platform, ensure ongoing operation as well as constantly enhance the functionality we decided to raise capital by selling 30% of our equity.

Some plans - but not limited to - are:
 - incorporation of Vircurex,
 - integrating other payment processors
 - advertisement campaigns
 - infrastructure upgrades

The Listing
A total of 45,000 shares at a face value of 0.25BTC each will be issued. 30% of these will be made publicly available.
If all shares are sold, 3,375 BTC will be divided into
   1,500 BTC onetime payment to license the platform and transfer the ownership of the complete infrastructure from its current owner
        300 BTC for advertisement costs over the next 3 years
   1,575 BTC to cover all operational costs over the next 3 years

Investment / Assets / Licenses
The listed security (and subsequently the legally incorporated entity) will
- own the source code, its customer base as well as wallet balances
- own the domain name

Operation costs / Revenue / Profit
Current monthly revenue from trading activities as well as advertisements is ~11 BTC.
The security listings proceedings will cover all operational expenses for the period of 3 years, hence all revenues will be net profit and paid out as dividends during that period.

Dividend
The monthly net profit will be paid out as dividend, typically in the first week of the month. All issued shares are entitled to the dividend payment.

Currency Exchange Risks
All expenses are paid in USD, thus to limit the possible risk of currency fluctuations, all proceedings from the listing will be converted to USD immediately. The funds will be held in a bank account and will not be used for anything other than paying the operational costs of the platform.

Share Buyback
The security issuer has the right to buy back the shares at 25% above the 30 day average trading price.

Special conditions
The security issuer will not be entitled to dividends for a period of 12 months after the listing.

Forward Looking Statement
Next 12 Months
Assuming a current 11 BTC monthly revenue and a quarter on quarter growth rate of 10% then the security will offer a 4% to 5% dividend yield. We believe a 10% growth quarter on quarter is a conservative number, in addition, most operational costs are fixed costs, hence any further growth will reflect in an over proportional increase of the dividend yield.

After 3 years
The trading platform will have to generate sufficient revenue to for it to continue its operation beyond 3 years. With the average monthly operations costs of 50BTC and the current trading fee of 0.5%, the exchange will require a daily trading volume of ~170BTC to break even.

Communication and Publications
All important announcements will be made on
 - the exchange that Vircurex will be listed on
 - bitcointalk.org

The list is subject to change depending on the development of the various forums.

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. Operating a virtual currency trading platform incurs the risks of:
- double spend attacks on weak virtual currencies
- security breaches (e.g. 0 Day vulnerabilities)
- legal actions by governments against our service offering
- availability of key personnel to operate the platform
- continuation of the virtual currency networks (blockchains)

Each potential investor need to consult with their financial advisor as to whether or not this investment is suitable for their specific risk profile.

Link to the listing on Cryptostocks.com:  https://cryptostocks.com/securities/34