There is a possibility someone is wrecking IPO's on purpose. They buy a few shares and purposefully sell below the IPO price to prevent the issuer from raising funds and cause the failure of the IPO.
I wonder if glbse could "lock" trading on an IPO untill a specified time has passed ?
I am currently
working on a restructure of the offering to address the ceiling problem that was mentioned earlier.
Doing so should help with people frontronning the ipo like you describe.
I do not have a problem with people doing that, sure it slows down open market sales of ipo shares, but I still have priv sales, and those people are welcome to seek profit.
That the situation exists just means I have work to do, not that anyone is being devious.
I think of it as a beta-phase were processes and communication can be optimized to scale up this operation.
That knowledge is worth a lot of BTC, but cannot be measured directly.
This is just it. BAKEWELL is not some grand scheme to make a quick buck. Even if it totally sold out at ipo, it would hardly be worth it for me on pure financial data.
I make a shitload more out in the oilsands, and the season is just around the corner (hint to anyone afraid those shares wont sell out... ill be coming home a hungry buyer)
Hell, even working a slow 40 hour week on a maintenance gig on a plant around the city will do me well.
I am a union tradesman in Edmonton.
What this does do however, is present a public and live resume. An interesting attempt to build a business out of this new wild west area of the internet.
I use my real name. BAKEWELL will succeed, and will be something of huge value I can reference in the future.
This is why I am here. Otherwise, id just wait until the new year and blow a rotation or twos paycheck on a minrig myself.
I also started an offering on the glbse/forum here to help push out black boxes:
I must confess a secondary motive here.
Yes, profit is nice and I stand to make a cut...
but one of the largest reasons for opening BAKEWELL is to put pressure on the other securities to operate in a more transparent, ethical, and timely manner
I was an investor long before offering my own security. I am still appalled at what some offerings consider "service"
anyhow, quick rant over. lol.
tldr; thank you, I am working on providing as much value as I can.
