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Block Chain Space, the 3-month accelerator program for blockchain startups, will launch on February 1st on the campus of ESADE Creapolis in Barcelona. More info here : http://www.blockchain.space |
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Thanks for clearing that up. It's still great news!
Any news on when or where these see kin SHL shares are going to be tradable?
We will announce the date when 'COIN' shares are tradeable on AIM as soon as the date is confirmed by the London Stock Exchange. |
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I have not heard from Seedcoin since like more than a month ago. Anyone knows what is happening now?
We have now closed SF1 on Havelock and have registered the former SF1 investors who converted into shares into the members registry. If you are among those investors and you wish to have more info pls contact us at info@seedco.in; if you are just asking about general information about Seedcoin we have been posting information on social media, such as the fact that two of the Seedcoin startups, CoinSimple and BTC.sx have been selected as semi-finalists of the SWIFT Innotribe Startup Challenge 2015; BTC.sx team will pitch in London and CoinSimple in Singapore. We have also posted photos on the Seedcoin Facebook page about the Seedcoin Coworking Space at Espacio Bitcoin in Buenos Aires where up to 18 desks are available to Bitcoin startup entrepreneurs. Seedcoin Coworking Space is co-sponsored by meXBT and BTC.sx. Seedcoin management team members were in Barcelona to attend the World Mobile Congress and '4YFN' (4 years from now) parallel event where they met Bitcoin entrepreneurs. Seedcoin Chief Startup Officer will be moderating the Startup Ecosystem Panel at Inside Bitcoins NY on April 28. We are currently working on new projects and a new website to be unveiled this month. More news re. Seedcoin, its current startups and future plans re will be made this month. |
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I am looking forward to converting soon and hope we can get a bit more info once this conversion is completed.
yes correct, traditional shares registered to the shareholders' names (hence the documents required). more information will be sent to all shareholders soon, we are now working with the lawyers on the share registration. |
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So, what are SF1's plans for issuing shares to the owners? Is it going to be counterparty? I would like to know how or what platform you plan to use so I can familiarize myself with it now rather at the last minute when I may be very busy.
Not counterparty, just traditional shares. |
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Got everything sent digitally and physical copies are with the courier. Sorry about the panic, the typo caught me off gaurd and just when everything was closed for Xmas good luck in 2015
No problem, thanks for sending the documents. All the best for 2015! |
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For anyone concerned by the SF1 units conversion please find below a reminder about the deadlines to submit the documents in order to convert your SF1 units to SHL shares. Deadline to submit your documents electronically (to info@seedco.in) : December 30th, 2014 Deadline to submit your documents by post sent : January 16th, 2015. The postal address was mentioned in the message sent on December 12th, 2014. |
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also, please clarify what you mean by "certified" copies....do you mean notarized by a notary public?
thanks
No need for certified copies, this has been confirmed as of yesterday after discussion with the agent. |
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hey guys, there's a little problem with the subscription form you sent out. It states that we have until the 30th DEC 2014 to get the electronic documents to you and then it states that if you get the electronic documents on time we have until the 16th January 2015 to get the physical documents to you. THEN at the bottom of the letter you state that if you do not recieve PHYSICAL documents by 23 DEC 2014 we have not met the requirements?  ?? WTF? ? Guys, I want in on this subscription, I believe that this misunderstanding is not entirely my fault (Im not even sure which dates you meant?) so I hope you are willing to allow me in still. Please clarify this mess OK? ?? Hi, Yes, I saw the email message you sent us as well. You are correct there is a typo in the last date, sorry about that. The deadline for the receipt of the physical documents is January 16th 2015. We will resend a message correcting this to the recipient of the original email. Please note you still have time to send this information, no panic... Thank you. |
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reply to AcoinL.L.C
Seedcoin doesn't provide enough capital for the amount of equity they want (15% equity is absurd)
-> equity varies from startup to startup
especially since Seedcoin's management team doesn't have much experience
-> a co-founder of Seedcoin has worked for banks, central banks and IT for the last 20 years (it seems finance and IT are a good combination for identifying startups with potential in the cryptocurrency space), another co-founder has 10 years experience in private equity and VC investments.
and Seedcoin is unknown to many VC's (i.e. they don't have a network)
-> we know many VCs and investors, and Seedcoin startups have been in contact with many VCs as well
Better companies would apply to better incubator / accelerator programs, such as boost, TechStars, or Y Combinator, among the numerous ones out there that are better established.
-> anyone is free to apply to other incubators or accelerator programs, we respect the ones you mention. Please appreciate we have started an incubator specially focused on Bitcoin startups, obviously it would have been difficult to do so 4 or 5 years ago when bitcoin was unknown to most. We started in Summer of 2013 and in that space we are among the early investing and incubating pioneers. Fyi we have contacts with Silicon Valley based incubators and they respect our work.
CoinSimple has a whopping 16 fans on Facebook, doesn't offer a product that brings much value to vendors. I can't see them signing over 50 vendors.
-> your opinion solely, CoinSimple's team has been working hard to deliver a great product enabling vendors to accept bitcoin very easily and the team includes famous members of the crypto currency world
Hive great product, poor monetization ability and to much competition.
-> should entrepreneurs stop innovating in sectors where there is 'too much competition'?? this kind of arguments would apply to many successful startups
While bitSIM has a solid management team, their products are to techy for the average user. Not to mention open source wallets (such as Bread) destroy bitSIM's market for smartphones.
-> have you ever used BitSIM? your comments demonstrate you are not familiar with the product.
CryptoPay limited market potential. To late to the game, and not enough funding to compete with existing larger players.
-> is market potential for Cryptopay the same that is pushing the valuation of companies like BitPay or Coinbase well above the USD100m mark? funding is an issue for all startups...
BitcoinATM360 leases Bitcoin ATM's. Not a terrible idea, just very limited market. My bet, is that annual profit won't ever break 25k.
-> BitcoinATM360 does more than leasing Bitcoin ATMs. 'My bet' are the key words here... for disclosure BitcoinATM360 is backed by Seedcoin but has not been financed via SF1.
mexbtc as with other providers, limited market with large market share leaders already inplace. The bitcoin economy isn't large enough to support several large companies in each business sector.
-> then let's hope meXBT continues being the leader on its market in Mexico... Mexico and Latin America have a great potential, meXBT is well positioned to benefit from that potential.
I would also like to draw your attention to the fact that the bitcoin economy is still a nascent economy, the volume of transactions for example in one geographical sector may not be sufficient today for a 'large' player today (unclear about the meaning you may give to 'large') but could be in the future, or at least, we and the entrepreneurs hope so.
Btc.sx is their only investment with any realistic promise. However, bitfinex and the chinese exchanges will give them a run for their money. I don't see them surviving long term.
-> here again, speaking without understanding the model of BTC.sx.. Bitfinex is a partner of BTC.sx and chinese exchanges could potentially be partners as well.
This seems like a quickly written, misconstrued view of what we do. We are open to criticism and comments but if you wish to share your analysis of our work, qualifications or the potential of the startups funded via SF1 - please do a proper background work first. We are helping the development of the future leaders of the digital currency economy, this is a long term play that cannot be achieved in a few months. Entrepreneurs work hard to achieve goals in the ecosystem they envision. Being active and entrepreneurial, and supporting these talented individuals contribute to reaching this vision.
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I have not get any mail from you and I had 5 000 shares.
I don't want to be paid half of what I paid for them, I want shares.
Please contact me to do what is necessary about that.
Sorry for the delay with the messages to the unit holders of SF1 who have more than 2,000 units. Havelock had to process more private transactions than expected for some SF1 unit holders to reach the 2,000 units threshold. We also wanted to make sure unit holders had ample time to let us know if they wished to buy more units before initiating the conversion process. We should get the final feedback from our lawyers on Monday Dec 1st and send an email to the unit holders with more than 2,000 units during the week of Monday 1st. Although delayed please rest assured we are working on the logistics of the conversion process and we will proceed with this operation as previously announced. Thank you. |
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Please note that as of November 4, 2014 SF1 trading has been halted on Havelockinvestments.com Subsequent to a consultation period initiated by Seedco Management Limited on October 1st the results of which have been posted on Havelockinvestments.com, Seedco Management Limited has decided to proceed with a buy-back and unit to share conversion offer. Subject to holding more than 2,000 SF1 units at the time of this offer, SF1 unit holders may be considered eligible to convert SF1 Units to Shares. However, since November 4, we have received a few requests by unit holders holding less than 2,000 SF1 units who have expressed interest to buy additional units in order to reach the 2,000 units minimum threshold for conversion into Shares. After discussion with Havelock Investments we have decided to allow one time single purpose trades at the fixed price of BTC 0.00045 per unit for those unit holders who may wish to reach the threshold of 2,000 units only. If you are a potential buyer or seller of SF1 units at BTC 0.00045 per unit please contact us at info@seedco.in mentioning in the subjet “private transaction of SF1 units” before November 12th 12 noon EST. The private transactions will be brokered via Havelock Investments upon our submission of information to them. |
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Please note that as of November 4, 2014 SF1 trading has been halted on Havelockinvestments.com Subsequent to a consultation period initiated by Seedco Management Limited on October 1st the results of which have been posted on Havelockinvestments.com, Seedco Management Limited has decided to proceed with a buy-back and unit to share conversion offer. Subject to holding more than 2,000 SF1 units at the time of this offer, SF1 unit holders may be considered eligible to convert SF1 Units to Shares. However, since November 4, we have received a few requests by unit holders holding less than 2,000 SF1 units who have expressed interest to buy additional units in order to reach the 2,000 units minimum threshold for conversion into Shares. After discussion with Havelockinvestments.com we have decided to allow one time single purpose trades at the fixed price of BTC 0.00045 per unit for those unit holders who may wish to reach the threshold of 2,000 units only. If you are a potential buyer or seller of SF1 units at BTC 0.00045 per unit please contact us at info@seedco.in mentioning in the subjet “private transaction of SF1 units” before November 12th 12 noon EST. The private transactions will be brokered via Havelock Investments upon our submission of information to them. |
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I've highlighted the part here that really matters with regards to my comment. I do understand that you're converting to real equity for over 2,000 shares but I find it unfair that you're excluding this possibility for smaller shareholders.
I can understand but please believe we have tried our best to offer this to all unit holders. There were too many unit holders with small amount of units to be able to do so and we regret this. It was never our intention to deprive unit holders from the opportunity to continue participating to this investment venture but legal and economic constraints eventually prevailed. This is why we have clearly mentioned this constraint in number of units in the consultation poll on October 1st and hoped that traders willing to convert into shares would be able to reach that level between the publication of the results of the consultation poll and yesterday. |
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There is no 'value' for SF1 to be seen here other than the price of the last seller's price.
But wasn't the value the equity in the start ups? Per the prospectus in the event of a buy out of a start up company the unit holders will be compensated pro-rata. That's where I find the value in the shares. The price on Havelock had no bearing on that and that is where I developed my value for the shares. 'pro-rata of their unit holdings' refers to how many units of SF1 holders may hold, in this case this is a buy back not a single startup private acquisition by a VC fund for example. re. the question about the investor eligibility to convert shares, please contact us at info@seedco.in as this is a conversation we would like to follow up on a case by case basis, and for which we need more information from you, thank you. |
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Look, SeedCoin, you can pick one or the other. If you think that the value is far in excess of your buy-back price, then you're doing the unitholders a disservice.
This comment was made as a personal hint to be taken in an ironic way. It could be taken out of context by some and given a more serious meaning. It is not a financial assessment in any way and should not be construed as such, it is a token of personal faith in SF1 since I have been deeply involved with SF1 for now more than a year as I started speaking with entrepreneurs back in Summer 2013. My remark, in case anyone missed this, is meant to draw the attention to the fact that I find IMO a hypocrite would have the audacity of blaming someone to see value where he/she did not only a few weeks ago. There is no 'value' for SF1 to be seen here other than the price of the last seller's price. In response to your comment I do not agree with your remark about 'doing the unitholders a disservice'. In order to know if unit holders may or may be better off we would need to assess what would happen if no one bought back any units and let these sit at BTC 0.00015 with extremely low levels of trading. We now give the opportunity to unit holders to hold shares in these startups, that may be a better option in the long run for these unit holders. Granted we do not give this opportunity to all unit holders and that is unfortunate; however, unit holders with less than 2,000 units had units which represented at the time of the consultation poll effectively BTC 0.3 (maximum) in bitcoin value, for which they will now get BTC 0.9 (maximum - or 3 times the last selling price). For those holding much less, anywhere from 1 unit to 100 units of SF1 (worth BTC 0.00045 to 0.045 at buy back price) for example and this is a common case among SF1 unit holders the unavailability of the share conversion option may not seem to be a huge problem, as seen during the consultation poll conducted in October. |
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Could you offer some possibilities why the price dropped from the initial offer price of 0.001BTC to 0.00015BTC, a whopping -85%? As an investor, it really pained my heart to see the price of such a good security dropping so much.
I think a full refund is the only acceptable buy back price but even that I personally wouldn't want to sell back at due to my valuation of the shares. Thank you for making comments worth reading. However you should realize that 'full refund' IMO is not the right wording here; no one is refunding anyone, this is a buy back process and although you and some of the investors and/or outsiders to this process may feel the pricing is low please consider that there is no obligation for anyone to 'refund' nor to buy any of these units at a higher price than the last seller's price previous to our first information re. to a potential buy back. I do not think any investor on Havelockinvestments.com is asking any fund to 'refund' their units based on the original IPO price, this would seem a dangerous precedent and in disregard of basic fundamentals of the investment process. SF1 Funds have been raised (back in January) and invested, any other operation such as this buy back process is a completely separate process, made with privately raised funds which could have been used for any other operation. |
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It's actually fairly ingenious for a scam.
Step 1) create a fund that does essentially nothing, but you've got a clause in there that you can buy back shares based on 30-60 (etc) day moving average, 2) pretend that you're actually doing something for a little bit, 3) cease all activity for a time greater than a multiple of 30-60 days, so that by that time most investors had dumped their coins and crashed the price, 4) magically come back and take advantage of the clause, using the IPO funds to buy back all the shares at the dirt cheap average price.
With an IPO raising BTC2,000, and a buyback of BTC900, that's not a bad haul for 11 months of doing nothing.
I did not realize we had ceased all activity for a while... oh, sorry you mean we were pretending to do something and then, we ceased pretending we were doing something, which is even more ingenious than 'pretending we are actually doing something'... but all the while we were busy making investors "dump their coins and crash the price"... since we have magical powers no problem we can come back and take advantage of the pretending we were busy doing (apart from that time when we ceased doing that) and 'magically' buy back the units. After all this non-activity I am anxious to take more days off being busy non-pretending. If you think my answer does not make sense, please read again your initial statement, that should clarify it. |
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does this mean you need 2001 shares to qualify for transfer, or just 2000 only?
2,000 units or more |
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