Ok, but aren't we right back in the same boat then, for US investors? The SEC says that US investors can't do business with unregistered securities. If you do business with US residents then the SEC will come-a-knockin'. Same scenario with Bitfunder, no? Correct me where I'm wrong. Wrong, Maybe, in the UK by law they are "beans" or in other words a commodity. I think this is what they should be in the US too. So, in the UK it would be trading contracts or a barter transaction. I'm not sure this placates the fear of the SEC where US investors are involved. Again, regardless of the individual country's law and vision of Bitcoin, the government of each party involved will dictate the legality of each parties involvement. So, regardless of how the UK views Bitcon, if I, as a US investor, want to use CipherTrade and the SEC gets wind of a US citizen investing in an unregulated security via the exchange, then the SEC is inclined to investigate the matter. Again, if I'm wrong I'd like to see some source material that shows that this isn't how the SEC would operate in this scenario. This is nearly exactly what seems to have happened with Bitfunder. I see no reason to expect it to be avoided, short of playing ball with the SEC. (Which, btw, CipherTrade is talking about doing. See below.) This whole line of conversation could be moot. See Benny's response here: https://forum.litecoin.net/index.php/topic,7176.msg55131.html#msg55131Yes, it does not sound good for the UK exchange. It looks like we can start testing Colored Coins in next few weeks. |
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any new progress on colored coins? :p
Yes. I've mostly finished with p2ptrade. It lacks checks and cuts corners in some places, but is able to make transactions. Here's the first transaction made using ngccc's p2ptrade: https://blockchain.info/tx/fb5656cafe75c5723152b128c6c52b5514787d34125a303908dc018bdd048410I hope we'll be able to make a demo release in a couple of days. We already have almost all components in place, but it works only in dev configuration. Also we might need some testing/debugging/improvements etc. We are also pretty close to a beta release: while there are things which need to be improved, they aren't numerous, and having a big team we can do a lot of work in a short time frame. Are they padded? |
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Ok, but aren't we right back in the same boat then, for US investors? The SEC says that US investors can't do business with unregistered securities. If you do business with US residents then the SEC will come-a-knockin'. Same scenario with Bitfunder, no? Correct me where I'm wrong. Wrong, Maybe, in the UK by law they are "beans" or in other words a commodity. I think this is what they should be in the US too. So, in the UK it would be trading contracts or a barter transaction. |
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After looking through the various exchanges, we currently have only two semi-legal options: https://796.com/And https://www.havelockinvestments.com/All the other exchanges currently available are for play money only and not legal at all. Remember there is no fully legal exchange for Bitcoin securities at the moment, but the two above have done more than anyone else. I understand the long term view is to be listed on a decentralized exchange however for the next 2-3 months this is not possible, and its within the next 2-3 months that a lot of trading will occur due to the eASIC chips coming online. I really do not want to be listed on another play money exchange. At least have some type of licence for money transmission etc... Does anyone disagree? How about this? You will see your 'play money' problem is addressed directly..... https://forum.litecoin.net/index.php/topic,7176.msg54823.html#msg54823This is really good news. Have they addressed how they will handle US investors? No different from the Chinese investors they are considering (via translated site), i guess. You think there is/should be a distinction/consideration for the US? From WoodTech about CIPHERTRADE: At this time we don't believe that we need to be regulated since BDO's view is that cryptocoins are probably "beans" or vouchers under UK law. We would therefore be operating a sort-of barter and contract brokerage service.
However, our intention is to operate in a transparent manner and work with the relevant authorities to comply with any necessary regulation. There is a good precedence for this in the UK; our online gambling industry worked with the authorities rather than try to be surreptitious and as a result we are world-leaders in that space.
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$933,592.80 Sale Today. Looks like a good sale.
6 24.576 TH/s Fash-Hash One Platinum machines.
Hey Ken, I've never posted here before but I have been lurking since the last thread. I own a good amount of shares and have been buying from .0005-.004 (not to be to specific but something in the 5 digit range). That is a considerable amount of risk for me to take, not to mention the risk of btc in the first place. This kind of investing can be a little anxiety provoking. I would just like to say at this point I have placed my faith in you and I'm glad I did. I believe you are working very hard to make this company a reality. Don't listen to the jackass trolls on here. I appreciate your dedication to this projects success. Thanks. |
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$933,592.80 Sale Today. Looks like a good sale.
6 24.576 TH/s Fash-Hash One Platinum machines.
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This is very important to us. This is our moto: "If You Make Your Customers Successful, You Will Be Successful". Now that being said we have no control over the difficulty, so we are working on R & D to make our machines run faster. Now, here is our promise to our customers, if at anytime before we ship the machine to our customer and the machine will not return a positive ROI within the first year, we will at their option refund 100% of the purchase price of the machine.
Not sure what "if at anytime before we ship the machine to our customer" means. Also, is this ROI promise in BTC (20BTC investment must earn 20BTC in a year) or fiat ($5k investment must earn $5k in a year)? The machines are priced in fiat, so the promise is in fiat. |
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To: kslaughter / whomever it may concern
ROI is looking quite dismal. Is there any chance the delivered equipment will run faster than advertised? Or is there any other way you can make it up to your customers somehow by delivering extra units or something? I spent over $10,000 with you guys and would appreciate it if you allow me to at least break even on my purchase. If not, do not expect me to be a repeat customer.
Thanks for your time,
Ch
This is very important to us. This is our moto: "If You Make Your Customers Successful, You Will Be Successful". Now that being said we have no control over the difficulty, so we are working on R & D to make our machines run faster. Now, here is our promise to our customers, if at anytime before we ship the machine to our customer and the machine will not return a positive ROI within the first year, we will at their option refund 100% of the purchase price of the machine. |
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Ken will you be listing more shares on crypto stocks?
i sure hope not. i don't want my shares diluted any more then they already are. There was no dilution as far as I understand. Still a total of 25Mill shares. A total of 25M, but only 10M listed until .0025 is paid in dividends. |
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VMC Sales:
3rd Quarter 2013 $1,404,217
October 2013 $520,898
Total Sales YTD $1,925,115
Thank you. Are you going to publish the full picture (balance sheet, CF and PL statements) on 15th, as promised? Yes, we are working on it. |
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VMC Sales:
3rd Quarter 2013 $1,404,217
October 2013 $520,898
Total Sales YTD $1,925,115
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I've read through most of this thread and forgive me if this question has already been answered..
Ken said that he would like the actM shares transferrd to amc-tender before the 14th
Is possibly to make more than 1 transfer to amc-tender using the same address and details as I've acquired more shares?
Cheers
A few people have asked this but no response as of yet. Yes, you can make more that one transfer. |
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when can share holders expect dividends again? will we receive a few weeks worth of divs?
As soon as we have a solution in place, yes all AMC-TENDER shares will receive accumulated dividends. |
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Ken said 1TH/s was added with "additional hashing resources" (read: "eASIC chips but we can't say that because of NDA") so we are definitely mining above 1TH/s unless he is lying which I cannot fathom.
So why have the extra 2.8 bitcoin payments stopped? Damn, look at the mining address with your own eyes!!!!!!!! The recurring 0.5 bitcoin payments are from the sold mining gear, no evidence anything has been stepped up. So a week later we are still mining under 1TH/s. The only alternative explanation for extra hashing power is either there is none, or it is being sent to an address we don't know about. As I have said before, all mining revenue goes to that one address; however, we don't have all systems set up to automatically send payouts, some we have to send manually. So, that being said you will see more revenue in our mining address when we manually send those payouts. |
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I suggest Ken distribute the dividends to those who have completed the shares transfer, so the shareholder can confirm their shares even the dividends is just some satoshi.
Good idea; however, I will have to wait until the deadline, so that everyone receives their dividends. |
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Just transferred my shares to AMC-TENDER, afaik I don't have to email Ken like last time, can someone else confirm this?
That is correct, we are just holding the shares until we have a solution, then we will announce the procedure for transferring the shares. Will we be getting any dividends while you hold the shares? (Weren't we supposed to receive dividends yesterday to our public bitcoin address?) The dividends are being accumulated on all the shares in AMC-TENDER. This is why the dividends have been suspended until we get all the shares into AMC-TENDER, so that everyone receives their dividends. After we have a solution for the trading of our shares, be that "Direct Shares", "Pass-Through-Shares", or "Listed Shares" we will distribute the accumulated dividends. |
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Just transferred my shares to AMC-TENDER, afaik I don't have to email Ken like last time, can someone else confirm this?
That is correct, we are just holding the shares until we have a solution, then we will announce the procedure for transferring the shares. |
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