Whichever legal bracket China places BTC into right now it will still be widely used as a medium of exchange in time in China. They are trying to put a dampener on volatility and over-appreciation by putting some clamps around the edges. That doesn't mean they will not allow it to be utilised in purchase transactions. You are confusing politics and social engineering with genuine intent.

Good question, no expert here but after a bit of searching - have a look at what happened when the Dollar devalued in 1930's due to similar high levels of credit (debt) and high asset prices:

http://www.foreignaffairs.com/articles/136779/barry-eichengreen/when-currencies-collapse


'As international liquidity grew scarce, central banks and private investors searched desperately for other assets, that is, alternatives to the dollar and sterling that were liquid and promised to hold their value. They found them in the currencies of countries still on the gold standard: Belgium, France, the Netherlands, and Switzerland. '


This time there are surely more numbers of substantial economies across the World where money can fly to (to their currencies and markets). Global trade impact (deep recession) may be similar esp with huge amounts of US debt in China. But BTC could, if it's well established by then, take a huge pump.

Anything used as a medium of exchange and which is in wide circulation is a currency.

Your argument is thus invalid.

It's like the blind leading the blind in here sometimes.

You all should have seen this similarly named company months ago (as most of us did no doubt) when you checked out our listing on CS.

As for you who actually registered and sold shares on CS and claim that they are 'listed wrong' (sic) well that really beggars belief.

Sure but remember ken doesn't actually build the chips or boards himself. We have Gerald at VMC HQ dealing with calls and customer enquiries. And Ken has just spent a few days meeting with our main  partner/supplier, so everything should be covered right now.

Think about how a typical CEO structures their day. They usually only work a few hours each morning - and have a few key meetings each week. CEO's are not supposed to be grafters, they are supposed to manage from a distance, delegate, and make key decisions. Ken could commit just 10 hours a week on this (like many CEO's do) and still be doing his full duty. The fact he even wants to spend days and days coding when he does have funds to hire and sit back means his heart is in this company and he is more dedicated to it's success than any career CEO would be.

Agreed 1000%. The proviso bring that platform is safe and won't need to be changed again a few months down the line. If this company goes large can we trust CT to handle the many millions of dollars worth of btc that will be slushing around its system? We trusted Ukyo right?

damiano look up HK. It is an ex UK dependency that was returned to Chinese rule in 1990s I think. It's under Chinese control although they are largely hands-off by prior agreement - that only would relate to the traditional FIAT system, not such a disruptive tech. They could close CT no problem if they saw fit. They closed down that Garden setup so they have history. Yes btcChina is allowed but a minor securities exchange? They have had one exchange in China rip off users already.

I don't think you will be getting equal liquidity across two platforms when the shares are not equally split. What you will get is the bitfunder/btc-tc situation. It looks like perhaps 30% of the shares could end up on CT but I'm not sure those with their shares on there will be happy for long if the market there is slow and prices lower than on CC network. Unlike btc-tc there will be no other investors on CT to bump demand up - the place is very quiet.

I also vote Coloured coins - beta or not they sound like they will be a significant aspect of the future of btc and so longterm they have far more potential to serve us than an exchange in HK. I'm sure most people know HK is under Chinese rule now so if the crackdown/slowdown continues the Chinese SEC could close CT down.

Pardon my French, but why the FUCK are you people still talking to crumbs and V fucking E?

They are pathetic low-life scum. Tell them to fuck off and STOP FUCKING TALKING TO THEM! Is it really that hard?

zumzero - Nice post fella. Its not usual for people to be so open as you are on here basically because there are way too many immature voices. The testosterone levels on here are through the roof most of the time and boys will be boys.

I also think (hope) I recognise honesty when I see it and we have had chats about Ken and raised doubts about some of his decisions over comms etc, but the one thing we do agree on is his honesty. Yes  many shareholders may well be right that in terms of being informed about how this company is progressing they have been badly let down. But I still don't think Ken will do well out of this unless we do well. After so long on this project I can't see him not putting everything he's got into this. Certainly his family are up to their necks so its a big big deal for them all.

lol to zumzero being the most unreliable source. Unlike a few posters on here I've never seen him lie about anything, so that is a strange statement.

Have a good meeting Bara - any info is great but specifics about board and chip delivery status would be kind of nice!

+1

The only proven liar on here who we can say for certain has lied to try to benefit his own share position is VE/Canadianguy.

He deliberately lied about having a VMC machine. He then lied about being paid 5btc by zumzero.

Oh and he's also made repeated threats against Ken's life. If there is anyone on here with zero credibility its VE.

He is just an aggressive, immature, paranoid gym junkie. Get over this creep already.

Now this is an interesting line of questioning. You could be right. But I've always thought the short comments on here are to do with time and a worry that Trolls will twist what he says - which is exactly what crumbs specialises in. Crumbs heavy presence on here might be keeping Ken away. Yes Ken's a grown man but I'm sure we all know how Trolls can wind you up and draw you into an argument and in the end there is no setting the record straigt as Trolls don't listen and are experts at twisting the truth.

All I would say is that if you read the IPO and you read the progress report you see a good standard of English and excellent communication skills. That's what a lot of people invested in - the strength of the IPO proposal as expressed by Ken.

I've told everyone to ignore this prick but still people give him the exposure of dialogue.

There are lots of people who don't get a look in here just because of crumbs hogging every fucking page and that's a shame.

Ive said before there are enough of us here to ask all the right questions. I even think the constant battles with crumbs actually distracts us from making progress in questioning this project and Ken. How long ago would we have realised eASIC could be the issue if crumbs hadn't been personalizing this all the time against Ken.

crumbs ultimate aim is to fracture this thread and damage this company as its his direct opposition. he's been doing that very very well for months - because people KEEP TALKING TO HIM.

eASIC would not allow prototype chips or any chip image of a new product to be shown. They bang out chips all day everyday ofcourse there have been chips made, it stands to reason.

Ahh some of this sounds familiar. Thanks Bargraphics, so the choice was made to go with 28nm after this news release. Check.

Why 50%? I don't understand, that seems quite arbitrary. With eASIC publishing a confirmatory news release I don't think 50% chance of total loss at that time would be a sensible assumption.

And in terms of apportioning 'blame' - I don't think investors are ever to blame for the actions of CEO's. Investors take risks with their own capital, in return for that risk they are usually rewarded. The reward does not always materialise as many small businesses fail. Investors are not to 'blame' for that - it's a fact of life. Now if someone has over-invested yes you can criticise them for that.

So in May 2013 we were close to having hashing 45nm chips? We never saw the pictures I guess (I wasn't around then) but could this be what the shipped products are based around? Or was Ken making it up in May?