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It's either:
1. A game with no real betting, but probably adverts to drive revenue. or:
2. A proper Ponzi-game with real (and/or virtual) money invested/gambled/lost, but properly regulated and licenced as a gambling site.
I just reckon the Ponzicoin name could get some great global press on the back of 'Bitcoin is not a Ponzi, but PonziCoin actually is intended to be one'.....
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Not sure if this is the right forum or not, but; I own the domains www.ponzicoin.com (and .net .info .org) and had planned to develop a game based around the idea of a Ponzi-style game (either as a pure game or as a gambling site, but with a proper licenced setup), but just haven't had the time to get onto it (or the coding skills to do so myself). Anyway, I've been contacted by DomainAgents, with an offer to purchase the URL. Before I went down the route with them I was wondering if it was anyone on here, since that way I could have a more sensible discussion directly. Or alternatively if someone wants to build a site, I'm happy to cut an equity-share for a partner. Just a heads-up, hopefully I've not offended the rules or anyone, it's been a while since I last posted here....... |
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I have a business based in Jersey (thats Jersey the Island near England, not New Jersey USA to be clear  ). It's pretty easy to use local professionals to setup businesses, but do not think that the money laundering/KYC rules are any different than for any other developed country ie cash/fx transactions require full disclosure of identity etc. The same will probably apply for Bitcoin there, unless it's just being used to buy goods etc. Also most of the local banks are subsidiaries of major global banking groups (for obvious reasons), so they will be under scrutiny from their HQ as to the businesses they enter into. If they don't like Bitcoin at HQ they will ban all their subsidiaries as well. http://en.wikipedia.org/wiki/List_of_banks_in_Jersey |
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Advisor: Lieven Van Neste Type that into Google, the results are interesting. Hope it's not the same man........ |
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Part of the reason for the MtGOX disaster was the "libertarian pilosophy" that has come to be associated with bitcoin. In that philosophy, a shady past, running afoul of the law, lack of proper accounting, financial opaqueness, and avoidance of regulations are not defects; they may even be seen as virtues. Thus, in particular, MtGOX's clients were not bothered by Karpeles's troubles with the FBI (that apparently made him avoid traveling to the US), or the fact that his exchange was completely unregulated and unaudited. They did not think of checking Karpeles's past; and even if they did, they would probably not object to what they would have found.
As long as bitcoiners continue to think that way, the already long list of bitcoin scams and failed-from-the start bitcoin ventures will only continue to grow.
Well said. Bitcoiners actively allow scammers and dreamers, by checking nothing, trusting anything 'because it's Bitcoin' and then accusing any criticism as FUD. |
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So the Neo/Bee super-secret special trading algorithm that can make profits when markets go and down, actually turned into 'oh no lets sell them all at $100, in case they go to zero'..............
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There were red flags, but not those mentioned in that stupid blog post.
The island thing is particularly nonsensical. Is Japan all bad because MTGOX were there? Japan, UK, Singapore, Australia etc............
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Found a older landlord wanting to liquidate quite a few properties. We don't have anywhere near the cash to buy them.
Whats the gross yield and the net after the costs of running them. Might have an idea...... |
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All this talk of FUD and profits and share manipulation is utter meaningless nonsense.
Neo/Bee problems do not stem from FUD or share price movements, they are in the real world, where they screwed up. The same failure would have occurred without any of the threads or posts on this forum.
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@ex-trader
Why don't you reserve judgement for a few months. My money is on Neo surviving.
I just cannot see how that is likely unless someone with a lot of money wishes to do something stupid with it (which in Bitcoin-land is entirely possible). They have no products, no customers, no staff and a reputation that is publicly in tatters. |
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I hope everyone here knows Bitpop and bitcoin.newsfeed are fake bought trolls.
I think the issue of who might be 'trolls' is irrelevant. The fact is that many people (whatever their motivations) called out the problems here and were massively shouted down by the 'believers'. Now the truth is revealed and Neo/Bee is dead. |
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Normally the order of business is:
1. Design products
2. Get approvals
3. Launch with PR
4. Gain customers
5. Make Profits
6. Buy Bentley (if true)
I guess that all seemed too hard so he just went for options 3 and 6.....
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have not yet been any formal complaints from customers of the company
That's probably because they never had any customers........... |
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Personally, I like backing a company that is based in Bitcoin. I believe that the value of Bitcoin will continue to rise.
It's not a company thats based in Bitcoins. It owns property, which is unrelated to Bitcoins. It should be fully invested and have no cash other than for contingencies, future investments etc. If you want to bet on Bitcoin rising hold Bitcoins. This is Fiat investment (nothing wrong with that) that just happened to raise it's money through Bitcoins. |
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I am very very curious if somebody will be able to raise any capital via IPO offering in "bitcoin securities market" after this.
They will because Bitcoin investors have proven many times they are willing to invest in companies with unqualified staff, shaky dream-like business plans and absolutely no due diligence whatsoever. |
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He said the bitcoins are only temporarily inaccessible.
Where are they then? He said there were no funds at GOX: "Having funds on MtGox was a personal risk that I assumed and no company funds were ever held on there" |
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What this looks like to me is either the trolls and haters have killed it, or by their constant attacks have given Danny the cover he needs to pull off a scam. Either way, this appears to be all the fault of the trolls.
Are you mad? The CEO has just said they have no money left. They've spent or lost all of it and owe people money. The company has no net worth or it'd be paying the bills. It's only value is the brand-name which is hard to believe is worth anything ('invest in NEO the bank you can trust, we've only gone bankrupt once this year'). The trolling was not trolling, but truth-telling, NEO was dead weeks ago, now the world is finding it out. The only part of trolling I agree that should not have happened and was unacceptable was the multiple accounts, rudeness, threats to family etc. |
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Just read that.
Firstly, respect to Danny for posting an update and I agree that it is utterly wrong and inappropriate that his family has been dragged into this.
However, it now seems I and some others have been right all along. The money has been spent and lost and there is nothing left.
Sadly all the money has been spent on nothing more than raising the awareness of Neo/Bitcoin in Cyprus, which will now be more than offset by the bad publicity for both that the insolvency of Neo will bring. I highly doubt that anyone would wish to buy or launch a Bitcoin bank again in Cyprus, now that the only well-known one has proven all the risks and gone bust.
What a mess. I'm genuinely sorry and sad for all those involved, staff and investors and for the futher negativity it will bring to the world of Bitcoin.
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Those people people who say that Neo should be left alone as it's new, in the same way as a real world start-up are mis-guided.
The reason that the Bitcoin world does need to be on top of securities all the time it that a large percentage of them have proven to end up being either fraud, scams or very poorly executed.
When was the last time you saw a fund-raise from a company on Nasdaq where the staff were not properly identified, the professional advisors undisclosed or where the founder ran away with the money. This is true for a huge amount of Bitcoin securities. Concerns are legitimate.
But are your concerns specifically true for NEOBEE? Because that's what we're talking about here. My point is that Bitcoin securities do need to hold themselves to more regular scrutiny than normal stocks since they have not been vetted or checked with proper due diligence in the way that normal securities must be. Bitcoin securities by comparison seem to issued primarily on trust. |
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Those people people who say that Neo should be left alone as it's new, in the same way as a real world start-up are mis-guided.
The reason that the Bitcoin world does need to be on top of securities all the time it that a large percentage of them have proven to end up being either fraud, scams or very poorly executed.
When was the last time you saw a fund-raise from a company on Nasdaq where the staff were not properly identified, the professional advisors undisclosed or where the founder ran away with the money. This is true for a huge amount of Bitcoin securities. Concerns are legitimate.
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