comparing bitcoin stock exchanges: mpex / btct / cryptostocks / bitfunder

[Peter Lambert]

Between the high fee and rude operator, it's not clear to me why people use this service.

See here.

I am not sure you linked the correct article? That one is a list of all the closed assets from MPEx, which seems like a reason not to use the exchange since things there don't last very long and tend to lose money? Maybe you just need to enlighten us on how it explains why people use the exchange?

[MPOE-PR]

Between the high fee and rude operator, it's not clear to me why people use this service.

See here.

I am not sure you linked the correct article? That one is a list of all the closed assets from MPEx, which seems like a reason not to use the exchange since things there don't last very long and tend to lose money? Maybe you just need to enlighten us on how it explains why people use the exchange?

Let's think with our thinking hat. Each and every asset GLBSE listed cratered. A purported "exchange" that chiefly lists/promotes scams is indeed an SEC lawsuit waiting to happen. These things matter.

[RangerK]

As others have pointed out, you certainly don't have any business on MPEx.

Your advice is wasted on me.  They don't seem like the type of people I'm willing to work with.

[burnside]

Let's think with our thinking hat. Each and every asset GLBSE listed cratered.

That's not entirely true... Many of them have continued successfully on other exchanges.  Some have continued successfully without exchanges such as Nasty, Asicminer, Moore, and Gigamining. (which was listed on MPEx)  And many of them shut down clean such as DeaDTerra's fund (can't recall the name) and 007.

[Peter Lambert]

Between the high fee and rude operator, it's not clear to me why people use this service.

See here.

I am not sure you linked the correct article? That one is a list of all the closed assets from MPEx, which seems like a reason not to use the exchange since things there don't last very long and tend to lose money? Maybe you just need to enlighten us on how it explains why people use the exchange?

Let's think with our thinking hat. Each and every asset GLBSE listed cratered. A purported "exchange" that chiefly lists/promotes scams is indeed an SEC lawsuit waiting to happen. These things matter.

Comparing yourself to shit does not make yourself look more attractive. Maybe you want to consider how to compare yourself to your current competitors instead of a failed operation from the past?

[MPOE-PR]

That's not entirely true...

Gigavps cratered.

It may not be "entirely true", but do the math, it'd probably be a worthwhile exercise, see if you can replicate previous results, the famous "less than half your btc in less than half a year" observation.

BTCJam is a scam platform because of its average 70% returns on "investments" (management figures, reality probably diverges). It doesn't have to be "entirely true": 30% true is way too much. Arguably 5% true is way too much. MPEx stands well under 1%. Again, these things matter.

Comparing yourself to shit does not make yourself look more attractive. Maybe you want to consider how to compare yourself to your current competitors instead of a failed operation from the past?

There are no current competitors. There's MPEx, and there's various attempts to recreate GLBSE. These compete among themselves for the "most-GLBSE alike" title, and when they don't do that they negotiate to reunite into one single unity of fail, thus actually recreating their model.

Outside of that pretend competition (as you can't really compete when there's no actual difference) there's no such thing as competition going on in BTC finance land: the play exchanges and MPEx couldn't compete if they wanted to, as they serve entirely disjunct markets. The random noob that started this thread for his literary-financial & fiducial new media etc project being a convenient point in case.

I suppose at most you could say the competition is cultural, in the sense of sanity trying to compete with firm conviction. That's hardly any sort of competition either.

[Peter Lambert]

Maybe you want to consider how to compare yourself to your current competitors instead of a failed operation from the past?

There are no current competitors. There's MPEx, and there's various attempts to recreate GLBSE. These compete among themselves for the "most-GLBSE alike" title, and when they don't do that they negotiate to reunite into one single unity of fail, thus actually recreating their model.

Outside of that pretend competition (as you can't really compete when there's no actual difference) there's no such thing as competition going on in BTC finance land: the play exchanges and MPEx couldn't compete if they wanted to, as they serve entirely disjunct markets. The random noob that started this thread for his literary-financial & fiducial new media etc project being a convenient point in case.

I suppose at most you could say the competition is cultural, in the sense of sanity trying to compete with firm conviction. That's hardly any sort of competition either.

See, that wasn't so hard, why didn't you start with that explanation?

The story in the link made me laugh.

[burnside]

That's not entirely true...

Gigavps cratered.

Not any worse than S.Dice did, and both the above mentioned and S.Dice were on MPEx.

How long was S.Dice listed?  How much did everyone lose that bought in at 0.0035+?  Why did those people lose?  (hint, management seemed to have gone on a 3 month post-IPO vacation...)

I don't think any exchange is immune unless the exchange only lists their own stuff.  Which seems to be where MPEx is now?

MPEx has a lot going for it, but the batting average is probably not it.


Add: That trilema post you linked is hilarious!  Reminds me of that old game "lemmings".

[odolvlobo]

The reason I'm looking into this is that I'm thinking of doing crowdfunding for a literary project, and rather than appealing to straight philanthropy, I thought it'd be more fun and effective to sell shares of the proposed book.  Is anyone aware of this having been done before?  I'm not.  Any thoughts are appreciated.

A stock exchange listing is not appropriate for your book project.  I recommend that you try Kickstarter or one of the other crowd-funding sites. These sites are designed specifically for projects like yours.

[RangerK]

Thanks for the comment, firstly. 

However, I think supporters should have the chance to recoup their philanthropic investment.  Especially with Bitcoin breaking barriers to finance, there is no reason a stock-trading model shouldn't apply to the arts.  I'm left with three choices if I want to pioneer this model:

1)  Work through bitstarter or kickstarter.  I could, with a lot of work, automate the sending of dividends to shareholders, but there is no infrastructure for trading shares.

2)  Implement my own share-trading platform.  I've considered this.  I would greatly prefer to focus on what I do best -- writing -- and benefit from a division of labor with specialists.

3)  Use an existing bitcoin stock exchange.

(I'm pursuing option #3 with btct.co.)

[slob]

If these exchanges are offshore, does that mean the investors should be too?

[Hfleer]

I did a quick comparison of bitcoin stock exchanges today and thought I'd share my initial impressions.  Please let me know if I missed any major exchanges, or if I got the wrong impression anywhere:

MPEX
website: primitive
30 day volume: 22,000 btc
listing fee: 30 btc!!!
other comments: They operator seems insufferably rude.  You can see it in his FAQ.  These guys are best known for handling the recent SatoshiDice deal.  Between the high fee and rude operator, it's not clear to me why people use this service.

BTCT
website: so-so
30 day volume: 108,000 btc
listing fee: 5 btc
other comments: Based in Bolivia.  You can really sense the legal uncertainty of bitcoin securities on this websites.  There are huge, very verbose disclaimers all over the place.

Cryptostocks
website: nice!
30 day volume: 300 btc
listing fee: 2btc!
other comments: looks great.  I'm not sure how long they've been around.  Maybe they're new and that's why the volume is so low.  I dig the low listing fee.

BitFunder
website: nice!
30 day volume: not sure, but I think it's very high
listing fee: 5btc
other comments: another great-looking site.  Everything seems professional

That's it.

The reason I'm looking into this is that I'm thinking of doing crowdfunding for a literary project, and rather than appealing to straight philanthropy, I thought it'd be more fun and effective to sell shares of the proposed book.  Is anyone aware of this having been done before?  I'm not.  Any thoughts are appreciated.

I prefer Btct.co to the others listed for various reasons.  I think it has the best overall combination of usability and variety of stocks right now.

[RangerK]

I prefer Btct.co to the others listed for various reasons.  I think it has the best overall combination of usability and variety of stocks right now.

I corresponded with one of their owners recently.  He made a very good impression.  Very professional.

[Hfleer]

I did a quick comparison of bitcoin stock exchanges today and thought I'd share my initial impressions.  Please let me know if I missed any major exchanges, or if I got the wrong impression anywhere:

Thought it would be interesting to see what others thought.  Where they agree or disagree.  I posted a poll here:  https://bitcointalk.org/index.php?topic=272848.0

[supermono]

Since BTCT will be closing, what are the plans for W4A-BOOK? Will it be moving to one of the other exchanges, such as bitfunder.com or havelockinvestments.com?
Or will you be issuing a refund and buying back the shares?

[freedomno1]

O_O I didn't revive this thread for a reason and ya not sure why the book asset on btct linked to this

[RangerK]

Since BTCT will be closing, what are the plans for W4A-BOOK? Will it be moving to one of the other exchanges, such as bitfunder.com or havelockinvestments.com?
Or will you be issuing a refund and buying back the shares?

It will either be moved to a different exchange, or I'll do a buy-back at the original issuing price.

[zirt]

Hello,
I would like to make some investments but the more I read the more I see scams, and not serious websites.
Has anyone found a quite safe way to invest my money?
Thanks

[Peter Lambert]

Hello,
I would like to make some investments but the more I read the more I see scams, and not serious websites.
Has anyone found a quite safe way to invest my money?
Thanks

Take a look at CoinBr, they recently lowered all their fees and are quite reasonable now. They act as a broker for MPEx, so you can get the solid investments from MPEx without having to pay the huge registration fee, and the user interface is nice.  Here is my referal link: https://coinbr.com/ref?c=G7fzMs7Kfh