If GLBSE would allow it we'd open it up to the general public. If we are forced to accept only US dollars than the SEC will prevent us from dealing with non-accredited investors. (An accredited investor is a person who makes more than $250k per year defined by the SEC under Rule D of 1933). This is the same hurdle every entrepreneur has, federal law says very clearly that you are only allowed to borrow money from rich people. (Until they enact the JOBS Act which overturns 80 years of law). Excellent. Thank you for clearing that up. I personally think it would be great if this were done through GLBSE. You are sure though, that the SEC will not prevent you from dealing with non-accredited investors if you receive loans in denominations other than USD? That would seem surprising to me based on my knowledge of how the government treats everything from barter to foreign currencies, at least for tax purposes. |
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I just wanted to point this out in case anyone else missed it on first read as I did. We are seeking 1-7 individuals to lend $50,000-$350,000 at an interest rate of 20%.
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If you are interested in lending $50,000US or more to this project and earning a 20% return contact me right away.
Viceroy, are there legal or economic reasons for having a small number of very large lenders rather than a large number of small lenders? You might successfully use GLBSE in the former case, but I think you'd have a much higher chance of success with the latter. |
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Thanks, I was not aware of this. |
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I just read your OP more carefully and I now realize that I will unfortunately be unable to participate. I didn't realize you were looking to secure large loans from only a few individuals and that you would be legally unable to offer equity investments to non-Colorado residents. I was thinking you could use GLBSE to issue shares and pay dividends, but you could still use it to issue a bond which you could buy back later. There are others more familiar with the use of GLBSE than myself that could help you with that. I would maybe check in the Securities subforum. We are not trying to feed the world but instead trying to turn a large profit based on black-market pricing before prohibition ends. Haha, true enough. |
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You need Nitrogen, Phosphorus and Potassium and unfortunately the main source of those is chemical companies. The truth is the plant doesn't care if the Nitrogen you use is from Shell Oil or some other major company, Nitrogen is Nitrogen is Nitrogen and most of it comes from petroleum plants. It is much easier to use 'organic' fertilizer in soil rather than in our water based medium.
What about the use of Aquaponics? Granted, it may not be feasible for the type of plants your growing, nor for as large an operation. I find it fascinating though. |
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Don't bother. Regardless of your state laws cannabis is still federally illegal. GLBSE wouldn't let you list there. They'd get shit on by FBI/DEA or other federal agents.
From GLBSE's terms of service: 4. It is not the Exchange's responsibility to ensure that those trading, listing, or issuing assets on the Exchange are operating according to any kind of rules, regulations, laws, or standards those trading, listing, or issuing assets on the Exchange are subject to in any jurisdiction, beyond these terms of service. You realize that GLBSE is already an unlicensed security, bond, and stock market, right? I don't think they care too much about complying with any particular nation's laws. I find this to be a huge benefit. |
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I don't normally contribute to political campaigns, but you seem to be a pretty cool guy, I can sort of get behind the shrink government from within methodology (though I don't think it will provide widespread, lasting change it may work on a smaller scale), and... BITCOINS! Fare well.
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Based on my understanding from a friend who has made honey mead, it's quite simple to make. Do it!
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Have you considered using GLBSE for this fundraising operation? I would be hesitant to just send you some bitcoins, but if you were verified on GLBSE and offered an IPO I would definitely invest.
If not GLBSE, what methods do you propose to protect your investors, both from potential fraud or from legal liabilities?
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However, my understanding is that supply is limited, so it may be many weeks before new customers can get their hands on one...
Newark seems to have at least 100 to ship today. I just purchased one, we'll see how it goes... I also purchased on on BitMit, but that's from Germany and who knows when it will ship... Want to have my bases covered.  |
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To what address will you send this refund transaction? I think I saw in another thread you were assuming that the previous output's script is acceptable for this, but it is not the case.
I would recommend that you keep a "refund address" on file for your customers, and send all refunds to that address. It also makes it less confusing for them, because they can have that address labeled as "refunds from flower1024", instead of your refund showing up as "payment from Bob for widgets".
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but i think its a very good feature of bitcoin to see the addresses money came from. so you have a chance to send funds back.
There's isn't actually a "from" in Bitcoin. On very simple transactions you may be able to make an educated guess, but it should not be relied upon as an address to which you can send a refund. If you need to send a refund, get a refund address from your customer. |
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tl;dr: The Bitcoin network historically uses about as much energy as the Bank of America building in New York.
That's a beautiful approximation. Off topic, something I saw on reddit, loved, and am trying to spread: move tl;dr to the top and rename it Abstract: |
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I just discovered this yesterday and loved it. I had no idea they accepted bitcoin donations, but now I've sent one. Thanks!
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The only reason I use blockchain.info over Electrum is that Electrum's Android client is pitifully basic to the point of being unusable. |
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Combine this with paying for traffic linking two wifi sites and you could avoid the need for ISPs.
That's exactly the idea behind Hocnet |
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If there's one way to unravel any semblance of professionalism you've built up for your business over many months, it's to have your spouse suddenly appear and start engaging in personal slanging matches with your detractors.
I was immediately reminded of Charles Carreon and wife... |
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The Hocnet project is one possible implementation of this idea. When it first started, the plan was to use bitcoins specifically, but due to various reasons they have decided (I think) to move to a more open ended OpenTransaction system. edit... Upon second reading of the thread, maybe Hocnet is much lower level than the OP had in mind, but I think it's a fantastic concept. |
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Erm... Bitcoin was created so that you wouldn't have to trust a central authority with the management of the money supply, to hold your wealth, to transfer payments from one party to another... not to remove all trusted third parties altogether.
Unless you've got a way to provide a high volume online exchange without any trusted third parties, in which case, go on...
BTC will come of age when there is no longer a "need" to exchange it for fiat currencies. I personally feel no such need. BTC was intended to be exchanged for goods and services between individuals. And fiat currency is a widely desired good in today's world. |
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Use bitcoin as it is intended to be used. Peer to peer, not centralized. Bitcoin is about an individual's ability to assert sole authority and control. Giving that up to someone else is entirely against the intended design.
Erm... Bitcoin was created so that you wouldn't have to trust a central authority with the management of the money supply, to hold your wealth, to transfer payments from one party to another... not to remove all trusted third parties altogether. Unless you've got a way to provide a high volume online exchange without any trusted third parties, in which case, go on... |
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