It depends on the security. Some offer a means to transfer between exchanges, but most don't.
Also, if it were easy to transfer assets between exchanges, would there still be a price disparity?
No. |
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Furthermore, as more people realize the benefits of using bitcoin, more people will join our site. Since we are still in the early stages of bitcoin, I expect a regular stream of new members from all corners of the world for a long while  This is a very good point. Good to get in the competition early so when an influx of investors come, you're ready. I definitely like the long-term viability of this website, so long as you can survive the original perhaps low traffic. Good luck! I will be investing on Tuesday  |
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I'd just like to voice my two cents and say that paying the refund out as a dividend makes absolutely NO sense. Have none of you invested before? Dividends are one aspect, and one that should be done when the company is doing well. AsicMiner paid whopping dividends when they were performing exceptionally well, and now all you idiots care about is DIVIDENDS DIVIDENDS DIVIDENDS. ActM just got punched in the dick, and you want them to use the extra to cash to pay you guys? Are you nuts?? You will get a lot more return than just one stupid dividend if you reinvest in the company and make it stronger.
There shouldn't even need to be a vote on this, it is a no-brainer. No dividend.
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Any exchanges offer or plan to offer option contract creation on bitcoin itself? Would be interested to see what kind of premiums 2-4 year LEAP contracts would fetch  Hey neilol, can you point me to any good literature on options writing/trading? Trying to learn more about this aspect of trading. Thanks! |
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Where and with what frequency can we expect updates about progress and performance?
Thanks
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This may be a dumb question since I've only played with it for a few minutes, but how frequently does the page update? Do we need to refresh the page ourselves?
Also can I put in a request to show how many users are currently in the chat at any given time?
Awesome job! I'd definitely consider subscribing to a pro version of this!
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I think I agree that the 150K is not a particularly aggressive valuation, given the current valuations in the space.
Other than that, you say you are partially spending the money on marketing. What channels of communication are you going to use to drive volume?
Another thought, is there anything stopping people that are currently using LocalBitcoins from using DealCoins as well? Maybe you should provide incentives to trusted dealers on LocalBitcoin to use DealCoin as well, so the business can start out with a solid reputation.
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If the main point of this exercise is getting Bitcoin publicity, why not do a press release just stating you and the other members of the bitcoin community are raising funds in BC, how much has been promised, how much you need etc. to buy the catalog.
Sounds like a good story as is!
(of course doing this will drive up the price...)
David
This is a decent good idea. I can pledge 100K to start and willing to sell some of that off if more then enough comes in. I'm not good at the press release, reddit, etc.... type of stuff though. Earning a decent return is also part of the exercise. I posted the link to this thread on r/bitcoin and r/bitcoinstocks and its currently at or near the top of both. |
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So wait, does that mean he won 250 BTC in one go? Wow.
He won 196 BTC on a single roll: bet #86899683 4 BTC @ 1.98% 50x <craigbot> 50x...oh shit i thpought it was 50%...haha so luckY!
hahah wow. 20 grand, he sure as hell was luckY |
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It's a great idea, but listing on an exchange really stacks the timeline against you.
Yes I definitely wish I would have known about this earlier. I'm not as worried about getting the money converted to fiat, I'm sure the auction house will give you 48 hours or so to get the money to them. Why are you sure they'll give you 48 hours when they only give everyone else 24? Where have you previously managed to cash out $100k+ of BTC in 24 hours? Most exchanges have withdrawal limits below that even if you've completed all the KYC/AML document checks. Unless you've actually been through the pain that is moving significant sums of BTC into cash you should avoid assuming it's an easy and fast process. Just getting it transferred into your account wouldn't necessarily let you get a cashier cheque (or check if you're from the US) drawn against it. Depending on what we win the auction for, if it's under 200K I was going to float it and wait for the cash out to repay myself, but fair warning, the timeline likely makes this a fun idea but not feasible. Too Bad. If I was rich, this is the exact type of thing I would spend my money on. |
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I'm waiting a little drawdown on the profit before investing ...
We had a little drawdown yesterday when someone accidentally bet 5 BTC at 50x (~2%) when he meant to bet at 2x (~50%): [IMAGE] Nice accident for whoever placed that bet! I was there when it happened. Craigbot was so damn lucky. He was also smart enough to withdraw and stop betting. I wish I made an accident like that. So wait, does that mean he won 250 BTC in one go? Wow. |
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...I read your words as being very condescending. In Dutch if you refer to a third person like you did, it's considered quite offensive...
I intended specifically to refer to more than one person; I intend whatever I write here to be of use to whoever happens along to read it. If any potential participants feel they need individual private consultation, this is not the place for it. ...As a UK limited company you will have to keep proper records of your profits (management fees) because you have to pay taxes on that...I conclude that you have no obligation whatsoever to keep records of bitcoin denominated assets...
Your conclusion is not only erroneous, but grossly so. Basic accounting does not permit companies simply to whip up some profit statements out of thin air, unsupported by detailed records, including detailed records of assets, liabilities, and just about everything else. ...This means you only have to report a short balance sheet and turnover is not even required?
Again, your conclusion is not only erroneous, but grossly so. (Not to put too fine a point on it, but we're now descending into the absurd: how do you imagine a company would even begin to report taxable income by reporting only a balance sheet? It's a rhetorical question: I am not looking for a reply.) More generally, I hope that you and any other interested readers will appreciate that this thread was opened before the fund launched, specifically with the intention of providing a venue for anyone with an interest to ask questions, make suggestions, and evaluate for themselves what was being proposed. (And it certainly was not opened to provide an ongoing opportunity for tutorials on basic accounting or UK law.) I put a great deal of time and effort both into the preparation of the original listing document and into the discussions which took place on this thread before the fund launched. However, the fund has now launched. As you will hopefully appreciate, that means I now have one or two things that are occupying my time with regard to actually managing the fund -- an activity which I consider altogether more pressing than investing yet more of my time here on the forum, re-hashing the same questions which were already discussed before the fund launched. Re-hashing the same types of questions represents a direct subtraction from the time that I can spend actually managing the fund: it is, in a very real sense, a direct drag on the returns of the fund. I understand that since you are looking to launch a fund of your own, it would naturally be in your interest to occupy my time as much as possible with extended discussions about basic accounting and even your accusations that I am "making it very easy to run a Ponzi out of this". But I hope you will appreciate that my willingness to engage in this exercise is severely limited, and in my eyes this exercise is directly contrary to the interests of those of us who are actually participating in the fund -- including me. Maybe my reluctance to take time away from fund management for re-hashing or for discussing basic accounting sheds some light on why my first response to many questions is going to have to be "RTFM" or even just simply to remind potential participants of what it already says in the listing documents: if the information which I have already spent a great deal of my time providing is in any way insufficient for your needs, then do not participate. SHOTS FIRED. Greg doesn't mess around, damn. Do your thing Greg, go forth and earn BTC! |
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FOR IMMIDIATE RELEASE:
CRYPTO FINANCIAL (CFIG) is pleased to announce that our public offering of our Virtual Shares will close on Friday August 23rd, 2013 AT 12:00 P.M EST. Live trading of our shares will commence immediately once the IPO has closed. Any remaining shares will be placed for sale in the open market at the original IPO price. We appreciate the countless people and organizations that have reached out to us and have showed their support for our venture.
This has been a very strange, IceDrill-esque IPO. I don't like it. |
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Some more shares below the IPO value at the mo. Too late for me  What do you mean "too late for you"? Bought in as much as I wanted. Oh ok. I get the feeling this stock is going to have a significant increase in value after the first NAV report. I get the very distinct impression Dr. Mulhauser knows how to work this market. |
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Some more shares below the IPO value at the mo. Too late for me What do you mean "too late for you"? |
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What is that vertical jump in the profit line that occurred on the 12th, 15th, and 16th?
Someone losing a lot of bitcoins with just a few rolls of the dice. Lots of people use martingale betting on the site. They start by betting a very small amount relative to the bankroll they have available, and double their bet until they win. So long as they win one roll before the doubling gets out of hand, they are guaranteed a small profit. This happens over and over, with the player taking a small profit from the site very reliably, and the siite profits gradually go down. This is balanced by players not using martingale betting, who gradually lose due to the house edge. Eventually the martingale players hit 10 or 15 or whatever losses in a row, and lose their entire bankroll. This shows up as a vertical jump in the profit chart. Apparently this style of betting is particularly common when people play with Bitcoin, and I'm not sure why. Add a whole bunch of similar looking charts together and you get something like the site profit chart... Thanks for the explanation and chart! Very interesting stuff. |
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<snip>
A lot of people there think 130nm is out of date and obsolite, though. They don't realize that what matters is $/W and a cheaper to tape out chip wins in the short run, and over time Labcoin will have time to reduce feature size.
+1. This certainly worked for AsicMiner and they started out with an even smaller amount of seed funds. At some point all mining operations will need to get more cost efficient and they'll need to be creative for sourcing electricity but that doesn't mean that an initial rush to 28nm is the right answer. Labcoin had already taped out their 130nm chip when they did their IPO. The IPO was to raise money for their 65nm chip and pay for massive 130nm orders. People were always hating on the "outdated" chip technology these guys were offering, but the more you think about it, the smarter this game plan sounds. Have the reliable tech first. Excited for sure about these guys. |
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It's virtually impossible to get money out of Gox, and when you can it is taking many, many weeks. The Gox price is now 20% above any other exchange as well, so the price too is irrelevant.
I have no direct experience but this to me is a myth in danger of attaining legendary status. Mt-Gox update from 4th JULY (6weeks ago) 'Mt. Gox is happy to announce that global account withdrawals have now fully resumed as of today...'
'Progress in the Previous Two Weeks
While we announced that there would be a temporary hiatus on withdrawals, during our testing over the past two weeks we managed to process over $1,000,000 USD to customers. As this required a great deal of manpower and was not a perfect solution, we are quite happy with the progress made despite the conditions.'https://www.mtgox.com/press_release_20130704.htmlOntop of that EURO withdrawls have been available throughout although you do see some people complaining they waited a few weeks. It is entirely possible to withdraw Euros and convert to USD. With MTgox prices 10% higher I fail to see how that wouldn't make sense. It's not going to cost 100k to carry out the process. edit: And how do we know big sellers don't get priority treatment from Gox? For a nice fee they might be able to pull leavers for super big clients. Or he could just convert the bitcoins from a reliable source and not risk having a bunch of important money caught in Mt. Gox limbo. |
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While this thread argues definitions, someone's happy to buy up a lot of shares.
We're on the verge of another btc/usd price discovery bubble. A lot of new Walstreet type investors are coming to bitcoin and are going to look for securities to start dumping btc into. This should be an interesting month. That all depends on the results of the congressional investigations and regulation talks. Which could be years from now. The government moves slow. Unless, of course, there is serious money to be made. |
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