A BTC stock exchange for high-risk, unverified securities?

[jackc]

one look at the various levels of pink sheets OTC
OTCBB and GXG markets is full of pump and dump penny stocks

and theyers lots of hooops to jump through on a laot of those sections to be listed
these guys just manage to pay off enough people[massive listing fee, anointed brokers paid ot consult and given wholesale access to IPO etc etc] and are letter of the law legit [but not SEC]yet rip off millions $$$ from poor dumb "investors"

i welcome any effort a nice guy like you who wants ot protect investors BUT how hard will you have to work to be even more effective than the toothless SEC? i would say it's hard to watch but at the end of the day spend your time and money protecting GLBSE's ass not the investors.
i am beyond angry at the people who enabled pirate40 through their blind greed and idiocy and have the temerity to whine about it. not you.

[MPOE-PR]

Theymos: Look at August new membership. Think how much money people lost on crap "assets". Add these two.

[ciuciu]

Theymos: Look at August new membership. Think how much money people lost on crap "assets". Add these two.

We should all move to a romanian exchange run by a porn website operator like you.

https://bitcointalk.org/index.php?topic=102333.msg1121264#msg1121264

[bitcoinbear]

I'm thinking of tier names right now. Tier 1 would be GLBSEBlue for "bluechip" shares, Tier 3 being GLBSEPink for pink sheets (and all the risk, none of the requirements).

Anyone have a good name for Tier 2 middle tier?

How about GLBSEWhite?

Since you have to get some verificaton to get out of the bottom tier, it would be like whitelisting the assets?

Looks like my suggestion wins!

Market on GLBSE now split into Pink, White, and Blue.

Well, "split", since everything is still in Pink, White and Blue are empty.

[Nefario]

Yeah, will be working with issuers to get them into white, and then eventually blue.

[byronbb]

Not for long.

Also there are several on GLBSE at the moment that would only need a little help in reaching that status.

Most on GLBSE are already that status imo. No offence to you.

[Nefario]

Not for long.

Also there are several on GLBSE at the moment that would only need a little help in reaching that status.

Most on GLBSE are already that status imo. No offence to you.

Not exactly, getting into the white catagory would mean you need:
1) A revenue generating business
2) Provide accounts
3) Get verified (minimum photo and address verification)

The majority of GLBSE assets do not meet these standards.

[wogaut]

Not for long.

Also there are several on GLBSE at the moment that would only need a little help in reaching that status.

Most on GLBSE are already that status imo. No offence to you.

Not exactly, getting into the white catagory would mean you need:
1) A revenue generating business
2) Provide accounts
3) Get verified (minimum photo and address verification)

The majority of GLBSE assets do not meet these standards.

You can start by streamlining the address verification.
Some members (myself included) have to chase you for weeks to get that part done.

[Korbman]

Not for long.

Also there are several on GLBSE at the moment that would only need a little help in reaching that status.

Most on GLBSE are already that status imo. No offence to you.

Not exactly, getting into the white catagory would mean you need:
1) A revenue generating business
2) Provide accounts
3) Get verified (minimum photo and address verification)

The majority of GLBSE assets do not meet these standards.

You can start by streamlining the address verification.
Some members (myself included) have to chase you for weeks to get that part done.

I didn't have any trouble getting verified. I submitted all my information and had my phone and address verified within 2 weeks...all while substantial changes took place on GLBSE and everyone was busy. Given the circumstances I'd say that's pretty good.

I am, however, still waiting for my IPO to launch (and show up in the market). I had my contract, financials, description, and other docs (as well as fee) submitted and paid by August 25th...so 3 weeks ago

[wogaut]

It's clear to me that there are those that had/have no problems at all, but that doesn't make it less of an issue to me.
Sorry.

I am, however, still waiting for my IPO to launch (and show up in the market). I had my contract, financials, description, and other docs (as well as fee) submitted and paid by August 25th...so 3 weeks ago

So the expected launch date you have provided was supposed to be 3 weeks ago?

[Nefario]

It's not intentional guys, I'm really sorry for the delays.

For new assets I want to wait until after the conference, for a number of mainly policy reasons.

For address verification this is actually a tricky issue. We've been doing it a particular way but I'm worried it could be gamed.

How do you prove you live where you do?

Sending a letter with a code doesn't prove anything, just that you can get post at that address. What can really prove you live at a particular address?

[kakobrekla]

It's not intentional guys, I'm really sorry for the delays.

For new assets I want to wait until after the conference, for a number of mainly policy reasons.

For address verification this is actually a tricky issue. We've been doing it a particular way but I'm worried it could be gamed.

How do you prove you live where you do?

Sending a letter with a code doesn't prove anything, just that you can get post at that address. What can really prove you live at a particular address?

Normally I have seen a fresh utility bill is used for that. (electricity, internet, phone...)

[Nefario]

It's not intentional guys, I'm really sorry for the delays.

For new assets I want to wait until after the conference, for a number of mainly policy reasons.

For address verification this is actually a tricky issue. We've been doing it a particular way but I'm worried it could be gamed.

How do you prove you live where you do?

Sending a letter with a code doesn't prove anything, just that you can get post at that address. What can really prove you live at a particular address?

Normally I have seen a fresh utility bill is used for that. (electricity, internet, phone...)

It normally is, and I've always hated that, for myself I mean, as I've never had a utility bill in my name, utilities were always included in my rent.

But you're right, no one is going to pay the bills for a house unless they live there.

[wogaut]

It normally is, and I've always hated that, for myself I mean, as I've never had a utility bill in my name, utilities were always included in my rent.

But you're right, no one is going to pay the bills for a house unless they live there.

Thanks for the response.

I thought about that particular part too.

If you pay the utility bill for a house you might not live there in case you rent it out. But that is just as good, as in that case you would usually be the owner.

I always hated that too, unfortunately I do not see a practical way to prove a physical identity without providing additional information.

With proper security measures, I would be ok with sending you a utility bill.

[Nefario]

It normally is, and I've always hated that, for myself I mean, as I've never had a utility bill in my name, utilities were always included in my rent.

But you're right, no one is going to pay the bills for a house unless they live there.

Thanks for the response.

I thought about that particular part too.

If you pay the utility bill for a house you might not live there in case you rent it out. But that is just as good, as in that case you would usually be the owner.

I always hated that too, unfortunately I do not see a practical way to prove a physical identity without providing additional information.

With proper security measures, I would be ok with sending you a utility bill.

My public key is on pgp.mit.edu for doctor.nefario@gmail.com, encrypt a high quality scan/pic also showing a little note (on the whitespace) saying your GLBSE username.

[Korbman]

It's clear to me that there are those that had/have no problems at all, but that doesn't make it less of an issue to me.
Sorry.

I am, however, still waiting for my IPO to launch (and show up in the market). I had my contract, financials, description, and other docs (as well as fee) submitted and paid by August 25th...so 3 weeks ago

So the expected launch date you have provided was supposed to be 3 weeks ago?

Sorry, I should have clarified. 3 weeks ago was when everything was all submitted. My launch date was originally set for September 1st...but then given the work that's going on, I'm looking to move it to October 1st instead. But under the IPO tab where you see what's up and coming, I haven't been posted yet. Once I'm there, then I'll start updating the forum thread I've created with details. I don't want to put myself out there when no one can follow up and check on the IPO on GLBSE because it doesn't exist yet.

It's not intentional guys, I'm really sorry for the delays.

For new assets I want to wait until after the conference, for a number of mainly policy reasons.

For address verification this is actually a tricky issue. We've been doing it a particular way but I'm worried it could be gamed.

How do you prove you live where you do?

Sending a letter with a code doesn't prove anything, just that you can get post at that address. What can really prove you live at a particular address?

Normally I have seen a fresh utility bill is used for that. (electricity, internet, phone...)

It normally is, and I've always hated that, for myself I mean, as I've never had a utility bill in my name, utilities were always included in my rent.

But you're right, no one is going to pay the bills for a house unless they live there.

This has always been a problem for me as well. I rent an apartment with 2 other people. My first roommate moved in about a week before my friend and I, so her name is on the power and tv/internet bills. My cell phone is bought and paid for by my company...which is awesome since I don't have to worry about those bills, but crappy because it's not in my name.

I am verified on Mt. Gox though, thankfully since I was able to use my most recent tax returns to show proof of address. Maybe that might be something to pursue? I'm always on edge about that stuff though...utility bills are one thing, but tax docs are just a treasure trove of personal information that you definitely don't want leaked. Unfortunately at the time it was the only thing I could use...

There's a lot of things that do have my name on it though. I have bank statements (stemming back for 4 years when I last switched banks), credit cards, student loans, pay stubs from my current job, car loan, and car insurance all 100% in my name and all with my address. I get how you can fake a few of these items, but still...

And what about people looking to get a start on the exchange without any of these things? What if they live with their parents, or are under 18? Chances are, they don't have any docs that would prove their address under the traditional verification methods. Quite the tricky situation indeed!

[wogaut]

My public key is on pgp.mit.edu for doctor.nefario@gmail.com, encrypt a high quality scan/pic also showing a little note (on the whitespace) saying your GLBSE username.

Sent.

[wogaut]

And what about people looking to get a start on the exchange without any of these things? What if they live with their parents, or are under 18?

If they are under 18 it is even more important to provide the information by someone who is legally responsible for them.
This is all about accountability in case something goes bad. In many countries a minor cannot be held fully financially accountable.
So ID of parents or legal guardians and their utility bill additional to the ID of the kid should be required when under 18.

Re renting: Back when I was renting, the DMV (Department for Motor Vehicles) requested a signed statement from my landlord to show that I live there. I know that's a hassle and it would be great if there's a better way.

[matauc12]

Am I totally missing something or basically this would just be a portal for : send me 1000btc and I will run away because I'm allowed to?

[Capital One Corporation]

On the suggestion of someone else, we would consider setting up a B market, with lower requirements, lower startup fees, and obviously more risk.

opinions?

I agree. The average return of the junk bond is much higher than the TB.