Cryptostocks - Are they Still Relevant?

[WestChi]

Is the Cryptostocks platform still relevant?  I have heard that it is not as active as it used to be and that projects have shifted away from them.

I know of Havelock and NXT, but what are some of the other popular stock platforms available.

[HarmonLi]

Well it turned out that effectively every single stock there is seems to be a scam, may it be an intentional one or just one with poor management skills. I don't think we'll see any more really successful stocks anytime soon...

[PM Poker]

We are not a scam, and listed on Crypto::Stocks (CS), but the fact the owner of the site could care less about it has generated many scams.

We looked at Coinsortium but one of the biggest scammer from CS moved over their, we stayed away and from what I hear it was a wise move.

Currently we are handling all investment personally unless a shareholder want to be part of CS or already is.

[EMIF]

Is the Cryptostocks platform still relevant?  I have heard that it is not as active as it used to be and that projects have shifted away from them.

The biggest problem with CS is Kumala -the owner of platform. He is also owner of Vircurex which has lost users' fund last year. And paid nearly zero for users lost. So, Kumala is not very responsible person for repaying of hacked (if really happened) amount.

I know of Havelock and NXT, but what are some of the other popular stock platforms available.

XCP ,MSC , HZ and may be NEM are other options.

But please keep in your mind:

1) In crypto world , there is no successfully operated companies at least 2 years (except maybe small ones)
2) Havelock is operated by some company located in Panama. So , its not decentralised. At past we have seen some exchanges have been closed. Most of users' fund havent been repaid. Or most of stocks disappeared. So , it was mostly big drama. Be careful...

[Chef Ramsay]

Well it turned out that effectively every single stock there is seems to be a scam, may it be an intentional one or just one with poor management skills. I don't think we'll see any more really successful stocks anytime soon...

Most have turned out bad but CryptoVest Financial Services CVFS has a clean business model and has been paying solid dividends to shareholders on CS and on other related host sites. I'm looking forward to their expansion into a bigger company and would recommend them to others.

[Minerjoe]

What is with BTC economy and so many scams? I guess the world is not ready for decentralization and anonymity yet. I have not seen any other economy with so many scams involved anywhere.

[EMIF]

What is with BTC economy and so many scams? I guess the world is not ready for decentralization and anonymity yet. I have not seen any other economy with so many scams involved anywhere.

Decentralization is  a good thing for daily users. The main problem with BTC for company or (-ish) things is that they shouldnt be decentralised. They should be regulated and accountable for what they do. I dont mean BTC should be regulated but BTC nominated companies should work according to -at least- some local laws . They should be punished when they dont make their responsibilities or break their laws.

However , to happen these , every goverment should make some extra efforts to let and work with BTC nominated stocks. If which country makes first steps and completed the legal structure of it , then I guess that country makes a big advantage and BTC is much closer to mainstream.

[Snail2]

Is the Cryptostocks platform still relevant?  I have heard that it is not as active as it used to be and that projects have shifted away from them.

I know of Havelock and NXT, but what are some of the other popular stock platforms available.

It's relevant only if if you are after DVC .

[Minerjoe]

What is with BTC economy and so many scams? I guess the world is not ready for decentralization and anonymity yet. I have not seen any other economy with so many scams involved anywhere.

Decentralization is  a good thing for daily users. The main problem with BTC for company or (-ish) things is that they shouldnt be decentralised. They should be regulated and accountable for what they do. I dont mean BTC should be regulated but BTC nominated companies should work according to -at least- some local laws . They should be punished when they dont make their responsibilities or break their laws.

However , to happen these , every goverment should make some extra efforts to let and work with BTC nominated stocks. If which country makes first steps and completed the legal structure of it , then I guess that country makes a big advantage and BTC is much closer to mainstream.

I fully agree. I just feel we are losing so many potential supporters due to the face people get scammed, leave crypto and never come back. I ve seen so many posts titled "that s it, leaving crypto for good"...

[SebastianJu]

We are not a scam, and listed on Crypto::Stocks (CS), but the fact the owner of the site could care less about it has generated many scams.

We looked at Coinsortium but one of the biggest scammer from CS moved over their, we stayed away and from what I hear it was a wise move.

Currently we are handling all investment personally unless a shareholder want to be part of CS or already is.

Direkt shares is a solution but trading means a lot of work for the issuer. If he allows trading at all.

Did you consider alternatives like bitshares or counterparty and if so why dont you chose them?

I dont think that a working security gets much bad shape only because it was, or is, listed on an exchange that has a couple or many scams. Nothing the issuer can do against. Only risk would be that the owner of the exchange has some lose morale.

I sent kumala an email some days ago and no answer. I guess he dont care. I hope i never get problems with cryptostocks.

[PM Poker]

We have also send numerous emails without an answer.  We also made a reasonable offer to purchase the site, and revamp for more information to shareholders.

We have not looked into other alternatives, because we are looking for accredited investors and will be doing all dividends automatically from our servers.

When we signed up for Crypto::Stocks the owner was responsive, but it is in a very slow death.

[chmod755]

We are not a scam, and listed on Crypto::Stocks (CS), but the fact the owner of the site could care less about it has generated many scams.

Maybe not a scam, but it's still illegal to offer unlicensed securities.

(the "Terms of Service" of Crypto Stocks saying that offers are not securities doesn't make it legal)

[beaknuke]

i left after loosing so much

[ajw7989]

Too many scam stocks on that site. The few that were good are now no longer viable when bitcoin price crashed. The daily transaction in bitcoin is very low now so even if you buy a lot it will take a while to sell when you are ready.

[Bizmark13]

I know of Havelock and NXT, but what are some of the other popular stock platforms available.

XCP ,MSC , HZ and may be NEM are other options.

NEM's asset exchange isn't live yet and probably won't be until a few more weeks at least. And I wouldn't exactly call HZ a "popular" stock platform. It's a NXT clone and most NXT clones (e.g. FIMK, BURST) have asset exchanges which are hardly used. Qora has an asset exchange too although nobody uses it.

Also, BitShares has support for user-issued assets. Again, I don't think it's widely used. NXT is definitely the most popular one with XCP and MSC probably being the second and third most popular platforms, respectively.

For a more comprehensive analysis of decentralized cryptosecurity issuance platforms, check out Overstock's wiki:

http://o.info/index.php/How_to_issue_a_cryptosecurity

Here is a list of guides for each platform in case you want to issue your own cryptosecurity:

http://o.info/index.php/Category:Cryptocurrency

[SebastianJu]

I know of Havelock and NXT, but what are some of the other popular stock platforms available.

XCP ,MSC , HZ and may be NEM are other options.

NEM's asset exchange isn't live yet and probably won't be until a few more weeks at least. And I wouldn't exactly call HZ a "popular" stock platform. It's a NXT clone and most NXT clones (e.g. FIMK, BURST) have asset exchanges which are hardly used. Qora has an asset exchange too although nobody uses it.

Also, BitShares has support for user-issued assets. Again, I don't think it's widely used. NXT is definitely the most popular one with XCP and MSC probably being the second and third most popular platforms, respectively.

For a more comprehensive analysis of decentralized cryptosecurity issuance platforms, check out Overstock's wiki:

http://o.info/index.php/How_to_issue_a_cryptosecurity

Here is a list of guides for each platform in case you want to issue your own cryptosecurity:

http://o.info/index.php/Category:Cryptocurrency

What does BTC compatible mean on the list in first link?

Thanks for the link, i searched for something like that since some days. I think decentralisation is much needed in times when exchanges go scam or simply having a single point of attack could lead to risks for shareholders in case governments go after unregistered securities.

Though on the other hand... anonymous securities werent the best idea most of its time. Im not sure how to solve it and how to be sure that its not only a long lasting scam that collects more coins on the way.

[Bizmark13]

What is with BTC economy and so many scams? I guess the world is not ready for decentralization and anonymity yet. I have not seen any other economy with so many scams involved anywhere.

Decentralization is  a good thing for daily users. The main problem with BTC for company or (-ish) things is that they shouldnt be decentralised. They should be regulated and accountable for what they do. I dont mean BTC should be regulated but BTC nominated companies should work according to -at least- some local laws . They should be punished when they dont make their responsibilities or break their laws.

However , to happen these , every goverment should make some extra efforts to let and work with BTC nominated stocks. If which country makes first steps and completed the legal structure of it , then I guess that country makes a big advantage and BTC is much closer to mainstream.

It is possible to promote voluntary regulation in a decentralized ecosystem. NXT attempted it with their NXTinspect auditing service, for example.

I know of Havelock and NXT, but what are some of the other popular stock platforms available.

XCP ,MSC , HZ and may be NEM are other options.

NEM's asset exchange isn't live yet and probably won't be until a few more weeks at least. And I wouldn't exactly call HZ a "popular" stock platform. It's a NXT clone and most NXT clones (e.g. FIMK, BURST) have asset exchanges which are hardly used. Qora has an asset exchange too although nobody uses it.

Also, BitShares has support for user-issued assets. Again, I don't think it's widely used. NXT is definitely the most popular one with XCP and MSC probably being the second and third most popular platforms, respectively.

For a more comprehensive analysis of decentralized cryptosecurity issuance platforms, check out Overstock's wiki:

http://o.info/index.php/How_to_issue_a_cryptosecurity

Here is a list of guides for each platform in case you want to issue your own cryptosecurity:

http://o.info/index.php/Category:Cryptocurrency

What does BTC compatible mean on the list in first link?

I didn't write it so I'm not sure what it's supposed to mean. It does seem very strange that NEM is listed as being BTC compatible but NXT isn't. At first, I assumed it might have something to do with being based on Bitcoin's blockchain but there is another column which describes that. Hmm... Perhaps it has something to do with the fact that dividends can be paid out in BTC as opposed to the native currency? That's the only explanation I can think of.

Thanks for the link, i searched for something like that since some days. I think decentralisation is much needed in times when exchanges go scam or simply having a single point of attack could lead to risks for shareholders in case governments go after unregistered securities.

Unfortunately, it's not quite as simple as that. Note that all the exchanges listed on that page are pretty much closed ecosystems and don't really interact with any other cryptocurrencies except for themselves. You can't really buy bitcoins, litecoins, or USD on the NXT asset exchange (or any other distributed asset exchange for that matter) because the assets listed there are really just bitcoin, litecoin, or USD IOUs. This is a big and very complex problem that we are only just beginning to solve. Check out automated transactions and atomic cross-chain trading for the beginnings of what a future decentralized altcoin exchange might look like.

Though on the other hand... anonymous securities werent the best idea most of its time. Im not sure how to solve it and how to be sure that its not only a long lasting scam that collects more coins on the way.

This is indeed a very real danger. ReserveShare for an example was a scam asset that was supposed to represent shares in a new altcoin but actually represented nothing. There are other similar scammy assets on the NXT asset exchange as well. The lack of regulation means that anyone can create their own asset with a misleading name and description. Hence the reason why you might see assets for Facebook, Apple, Gold, or a fake copy of an existing genuine asset, despite none of these assets representing anything.

Fortunately, NXT did implement a few measures to counteract this problem such as removing the ability to search assets by name, not listing assets by default, only displaying assets by inputting the asset's ID, and also by imposing a 1,000 NXT fee for asset creation. Even so, it's not foolproof. The best way to avoid scammy assets is to do your research and check out the asset in question before buying and also to read what other people have said about it on forums such as these.

EDIT: I'm only using NXT as an example because it's the platform that I'm most familiar with. Similar measures could probably be applied for any other crypto asset platform out there.

[jdebunt]

Never liked using CryptoStocks, as their platform is incredibly lacking ease-of-use.

The concept is great though, don't get me wrong, the implementation leaves to be desired.


EDIT: Just tried to enable 2FA on my account, keeps giving a "Something went wrong" error. Sigh...

[ajw7989]

You might be able to find 1 or 2 gems out of the trash stocks listed there. My main concern though is the daily btc volume. It is extremely low making any significant investment hard to get out when u need to.

[SebastianJu]

I found that kumala, owner of cryptostocks, left behind cryptostocks without giving any support anymore. I tried to reach him on behalf of LCSH through different ways i found, but theres no chance to get an answer from him. I even contacted a user on here who claimed he knows him, though no answer.

So having anything worthwhile on cryptostocks sound like a risk. If something goes wrong then thats it i guess.

So these decentralized exchanges, with their IOU's, how sure can one be to get the equivalent of real currency out of the system? I mean some IOU's are given out by NXT itself but some are given out by others. Regardless of who gave them out... is there any security that you can get the value items for your IOUs or is there the risk that NXT or another issuer is simply a scammer?