SCAM IPO [Bakewell] - Finally, a 'transparent' investment that will 'grow'!

[Carnth]

The market has not picked a replacement for an exchange & the glbse has sent nothing out.  so sitting in limbo

Thanks for keeping us updated.

As far as a replacement exchange, Burnside has something that looks very promising.

Once Nefario reseales the list of asset owners to the respective issuiers, moving to a new exchange (like Burnside's) would be practically painless for everybody.

[1714757533]

1714757533

[1714757533]

1714757533

[1714757533]

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[niko]

Based on the GLBSE trade history available in
https://bitcointalk.org/index.php?topic=117491.0

we can see that there were a total of 52 trades of BAKEWELL, for the total of 610 shares worth 91.03 coins. Note that trade history file does not include private transfers. Out of these 610 shares, only 54 were traded below BTC0.15, for the total value of BTC7.63.  I'd say even if we don't get info from GLBSE, it won't be hard to figure out ownership based on what everyone claims. Many people, I am sure, will have some kind of personal ledger they've kept, and the rest can be calculated, as it all needs to add up.

[johnjay3000]

My private list should be pretty much bang on in terms of who has what.
 Unseen advantage in making contact with people and doing the private sales

I am missing a couple handfulls of shares that were sold on the open market out of the ipo allotment, and anything that was done p2p between holders privately.

I am/was holding 65 shares that I brought open market... not sure how I can prove it now though...

[niko]

My private list should be pretty much bang on in terms of who has what.
 Unseen advantage in making contact with people and doing the private sales

I am missing a couple handfulls of shares that were sold on the open market out of the ipo allotment, and anything that was done p2p between holders privately.

I am/was holding 65 shares that I brought open market... not sure how I can prove it now though...

Do you know the date and time of the purchase? Even approximate time might help. You can look up trades in the file linked here: https://bitcointalk.org/index.php?topic=117491.0
If you have problems converting from Unix time to UTC, let me know and I'll provide a converted version.

[Evolvex]

Thanks for the updates Ian, sounds like everythings going well.

Do you hold how many shares I've got or should I be looking to provide some proof etc?

[johnjay3000]

Do you know the date and time of the purchase? Even approximate time might help. You can look up trades in the file linked here: https://bitcointalk.org/index.php?topic=117491.0
If you have problems converting from Unix time to UTC, let me know and I'll provide a converted version.

Yeah I saved all that incase this kind of thing happened.

Code:

Type	Timestamp	btc_amount	# of Shares
buy	13/09/2012 09:17	-฿6.00000000	40
buy	14/09/2012 07:52	-฿0.45000000	3
buy	15/09/2012 23:11	-฿0.30000000	2
sell	17/09/2012 08:31	฿0.14987654	-1
buy	20/09/2012 10:17	-฿1.65000000	11
buy	20/09/2012 10:17	-฿0.74999950	5
buy	26/09/2012 06:43	-฿0.14899899	1
buy	26/09/2012 06:43	-฿0.59599600	4

[niko]

How are the rigs doing? 

[niko]

Going strong pushing 650mhash per card (they are running at 1100) with zero downtime.

I was hoping to overvolt the cards a bit and push them up to 1200ish, but I don't want them to go down while I am out during the day should the ambient temp rise.

Yep, back in my mining days I came to conclusion that stability is more profitable than those elusive extra 50 MH/s per card. Keep on hashing!

[johnjay3000]

So whats the deal with divs? I havent been paying much attention lately so I am a bit out of the loop.

Also, if I was interested in selling, would Bakewell buy them back or would I have to find a seller, and how do we handle them wthout an exchange?

[Carnth]

Also, if I was interested in selling, would Bakewell buy them back or would I have to find a seller, and how do we handle them wthout an exchange?

I am just as confused about how to move forward as everyone else is.

Sure, Ian may know who purchased shares using his "special deal." But who's to say that nobody sold those shares on the open market?
In my opinion, until Nefario decides to do something, there is not much that any asset manager can do.
And everyone will just have to wait (essentially all assets frozen) until that time.

[niko]

Sure, Ian may know who purchased shares using his "special deal." But who's to say that nobody sold those shares on the open market?
In my opinion, until Nefario decides to do something, there is not much that any asset manager can do.
And everyone will just have to wait (essentially all assets frozen) until that time.

It's not that big of a problem, as only 54 shares were sold in the open market. Even if someone lies to not have sold them, they are risking their reputation for ~$80, and we can easily absorb that loss.

Based on the GLBSE trade history available in
https://bitcointalk.org/index.php?topic=117491.0

we can see that there were a total of 52 trades of BAKEWELL, for the total of 610 shares worth 91.03 coins. Note that trade history file does not include private transfers. Out of these 610 shares, only 54 were traded below BTC0.15, for the total value of BTC7.63.  I'd say even if we don't get info from GLBSE, it won't be hard to figure out ownership based on what everyone claims. Many people, I am sure, will have some kind of personal ledger they've kept, and the rest can be calculated, as it all needs to add up.

[niko]

Would it hurt to start asking shareholders to submit their claims to you now?  Perhaps it would turn out that no p2p trades are claimed. Even if they are claimed, both seller and buyer would need to claim their part, and it would all need to add up in your book.

[Carnth]

If you plan on continuing operations with a new exchange, I would highly recommend https://btct.co/
burnside has spent a lot of time on the Litecoin version of his exchange (where I manage an asset), and has now just released the BTC side.
Burnside got a lawyer, and registered it in Belize.
As a standard feature, you will be emailed all shareholder information on a routine basis--just in case. And, it's not slow!

[Bitcoin Oz]

If you plan on continuing operations with a new exchange, I would highly recommend https://btct.co/
burnside has spent a lot of time on the Litecoin version of his exchange (where I manage an asset), and has now just released the BTC side.
Burnside got a lawyer, and registered it in Belize.
As a standard feature, you will be emailed all shareholder information on a routine basis--just in case. And, it's not slow!

+10

[matthewh3]

If you plan on continuing operations with a new exchange, I would highly recommend https://btct.co/
burnside has spent a lot of time on the Litecoin version of his exchange (where I manage an asset), and has now just released the BTC side.
Burnside got a lawyer, and registered it in Belize.
As a standard feature, you will be emailed all shareholder information on a routine basis--just in case. And, it's not slow!

+10

+1

[niko]

Would it hurt to start asking shareholders to submit their claims to you now?  Perhaps it would turn out that no p2p trades are claimed. Even if they are claimed, both seller and buyer would need to claim their part, and it would all need to add up in your book.

Let's give it a try


Shareholders:
If you held BAKEWELL shares at the time the glbse went down, please PM me any information you have regarding your holdings.

Have you received the claims from everyone? Anyone missing?

[niko]

Have you received the claims from everyone? Anyone missing?

A little less than half the shares in the wild have been claimed.
Most people seem honest, some seem like total bullshit...
 and a good portion know they liked me, think they might have bought me, but do not really know what they held.

I have not received anything from the GLBSE yet.

It's been 12 days now since you started collecting claims. Would it be wise to set a deadline, so we can move forward?

[Carnth]

A few options exist to relist, still not sure what the best option would be, and everywhere has really low volume - I guess investing in bitcoin land is killed now?

I would be very happy to see BAKEWELL continue on https://btct.co/

We would need to win some sort of popularity contest or somesuch to get onto btct.co but I'll look into it more, it seems to be the most recommended around the forum and easiest to get involved with.

On the upside, should we take a new listing somewhere, it gives us the opportunity to address some of the problems we had on the GLBSE (thinking back to the ceiling problem and lots of shares on the market)

I know how btct.co works, because I manage an asset on burnside's Litecoin Global's exchange (and btct.co is just a copy-n-paste of that).

It's true the when a new asset is listed on btct.co, your asset is approved by umm.. lets call them "asset moderators" (full disclosure: I am one).
Here's how it works:

• You sign up, list your asset.
  
• The moderators take a look at your asset contract, your history (from forums, irc, whatever) and then give a YES or NO vote.
• Once you get 5 YES votes, your asset is approved and trading can begin.

Burnside did this so that assets approvals are not in his hands (although I'm sure he is a moderator as well).



Other benefits of btct.co:

• Speed. Burside developed the exchange with speed in mind and continues in that direction.
• Community Involvement. Burnside is actively involved with the community. He listens to all suggestions and implements the best ones
• Registered as an actual company in Beleize
• As a asset issuer/manager, you will be emailed all shareholder info (as of right now) at least twice a day. This email includes the email address of all shareholders and how many shares they own--just in case.
• I heard burnside is "going easy" on previous GLBSE asset issuers and might reduce or even refund the asset creation fee.

[burnside]

That is correct.  GLBSE assets will get the 5 BTC refunded to their account once we have verified that they existed on GLBSE before the shutdown.

We also have an import script that will import Nefario's list, create accounts, transfer the shares to the new accounts, and email the users their new account info,

Cheers.

[LoweryCBS]

Anyone have opinions on cryptostocks, therocktrading, havelockinvestments, mpex, or anywhere else they would like to mention?

Just want to make sure we take a look at everything and have hear everyone out.

I am quite impressed by BTC-TradingCo.  Bakewell will thrive there.