[CRYPTOSTOCKS] Private loan pass-through (WIT), Dividend up to 1.2% daily

[Chang Hum]

Seriously, this has got to be a Poe.

http://en.wikipedia.org/wiki/Poe%27s_law

His pitch has got the same comical tone as a Nigerian 401 scam!

[1714692719]

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[Dalkore]

Quote from OP: "They have good income and good social networks, but in a certain very special situation, they will like to borrow money from us with a 2% daily interest"


I am still trying to get my head around this.   What sort of person meets the above description but need a daily loan at 2%?  If they had the income, they wouldn't need the loan at such a sharky rate?


With Bitcoin being a fixed asset (that is in the issuing phase still), I have trouble with these long-term interest lending and dividend paying operations?   Help us understand please.


Thanks,
D

[WITRcenter]

Quote from OP: "They have good income and good social networks, but in a certain very special situation, they will like to borrow money from us with a 2% daily interest"


I am still trying to get my head around this.   What sort of person meets the above description but need a daily loan at 2%?  If they had the income, they wouldn't need the loan at such a sharky rate?


With Bitcoin being a fixed asset (that is in the issuing phase still), I have trouble with these long-term interest lending and dividend paying operations?   Help us understand please.


Thanks,
D

it last only typically for 1 day. Maybe it more likely a fee but not a debt. It's very special, that's only I can tell the investors.
I don't get your 2nd question quite well. But I can have a try. The business are carrying out in fiat currency. Most of the bitcoin is to be restricted so that WIT will be able to borrow money in fiat. The bitcoin is restricted  as collateral. At the early stage, it is not need collateral at all as the personal credit of our own is enough.  But as I'm intended to expand the operation, a collateral is needed.

[WITRcenter]

the 20m usd investment project is still under my due diligence. I have not decided to carry out. But there are lots of investment opportunities around me which I have few resources to catch all of them. Wish I will be better trusted in the community months later and I will be helping community member earning profit in sound investment. By return the dividend in bitcoin, I think Iwill also be helping stabilize the bitcoin exchange rate.

[Dalkore]

Quote from OP: "They have good income and good social networks, but in a certain very special situation, they will like to borrow money from us with a 2% daily interest"


I am still trying to get my head around this.   What sort of person meets the above description but need a daily loan at 2%?  If they had the income, they wouldn't need the loan at such a sharky rate?


With Bitcoin being a fixed asset (that is in the issuing phase still), I have trouble with these long-term interest lending and dividend paying operations?   Help us understand please.


Thanks,
D

it last only typically for 1 day. Maybe it more likely a fee but not a debt. It's very special, that's only I can tell the investors.
I don't get your 2nd question quite well. But I can have a try. The business are carrying out in fiat currency. Most of the bitcoin is to be restricted so that WIT will be able to borrow money in fiat. The bitcoin is restricted  as collateral. At the early stage, it is not need collateral at all as the personal credit of our own is enough.  But as I'm intended to expand the operation, a collateral is needed.

First off, thank you for posting a response.

If I use my imagination I can actually imagine a situation that is "could" work.  To be fair, lets assume you have this "special" clientele for the sake of evaluating this investment.  I might even swing you some BTC to see if this actually works.

Question:    Now I am being hung up on why you need Bitcoins?  If you are doing these short-term (1 day or two), how are you getting the fiat (cash) in your hand to carry out this operation in a timely manner to make it useful to your business and meet your obligations to your investors?

[gene]

But there are lots of investment opportunities around me which I have few resources to catch all of them.

Going by what I've seen here, I have no doubt about that.

[glub0x]

The site has some look and feel of GLBSE
I barely put my GLBSE login before i noticed that i had never seen a page like that there...
conclude what you want (I am barely idiot?)

[Bitcoin Oz]

The site has some look and feel of GLBSE
I barely put my GLBSE login before i noticed that i had never seen a page like that there...
conclude what you want (I am barely idiot?)

Thats because he uses bootstrap for the design which a lot of sites do.

[WITRcenter]

Question:    Now I am being hung up on why you need Bitcoins?  If you are doing these short-term (1 day or two), how are you getting the fiat (cash) in your hand to carry out this operation in a timely manner to make it useful to your business and meet your obligations to your investors?

I can borrow fiat currency @ 0.1% per day. It need bitcoin as pawn. At the early stage, I have already put my own bitcoin and personal credit into this, so the collateral rate is more than 100% and don't need to exchange the money actually. So I just need to figure out the pass-throughed income statement and balance sheet to share profit and risk with investors. I cannot specify the risk clearly right now for the same reason I cannot disclose the business model.

I have given investor an expectations. even the 0.2% dividend rate is not guaranteed. According to the history, even in a very bad business day(if the business is open that day) we will make 20% of our money lend to clients. But it is not guaranteed.

[WITRcenter]

Daily Summary 9/20/2012

Capital account per share, BTC   0.101939
Dividend payable per share, BTC   0.001939
Face value per share, BTC   0.1000
Today's return on face value, %   0.79%
Total return on face value since IPO, %   1.94%
   
Dividend paid out today per share, BTC   0.0000
Accumulated dividend paid out including BSD per share, BTC   0.0000


Find detailed financial report at:

https://docs.google.com/spreadsheet/pub?key=0ArIvBgSQ8q61dEwzMnA5a2t2TlBpY0g2SDdLUERaekE&single=true&gid=0&output=html

There are 518 of shares held publicly right now.

https://cryptostocks.com/securities/17

Thanks for all the investors.

[LoweryCBS]

I can borrow fiat currency @ 0.1% per day. It need bitcoin as pawn. At the early stage, I have already put my own bitcoin and personal credit into this, so the collateral rate is more than 100% and don't need to exchange the money actually. So I just need to figure out the pass-throughed income statement and balance sheet to share profit and risk with investors. I cannot specify the risk clearly right now for the same reason I cannot disclose the business model.

If I understand you correctly, what you're saying is:

"Collateral pass-throughed need money. The it statement same fiat day early I the I actually, right so personal than now need sheet specify per balance. I need my income and disclose more the just reason currency 100% figure into already. Can and the out to the risk the I share is stage don't rate risk and business for put as model and borrow @0.1%. Exchange pawn cannot clearly cannot investors. Credit I profit have. So own to to at the bitcoin this bitcoin with."

[Tittiez]

Maybe you should verify yourself on cryptostocks?

[MrTeal]

This is just awesome. Can I run a passthrough to your passthrough?

[Chang Hum]

Question:    Now I am being hung up on why you need Bitcoins?  If you are doing these short-term (1 day or two), how are you getting the fiat (cash) in your hand to carry out this operation in a timely manner to make it useful to your business and meet your obligations to your investors?

I can borrow fiat currency @ 0.1% per day. It need bitcoin as pawn. At the early stage, I have already put my own bitcoin and personal credit into this, so the collateral rate is more than 100% and don't need to exchange the money actually. So I just need to figure out the pass-throughed income statement and balance sheet to share profit and risk with investors. I cannot specify the risk clearly right now for the same reason I cannot disclose the business model.

I have given investor an expectations. even the 0.2% dividend rate is not guaranteed. According to the history, even in a very bad business day(if the business is open that day) we will make 20% of our money lend to clients. But it is not guaranteed.

Are you Chinese or living in China?

[AngryCatfish]

Could you disclose your identity and business model to a trusted member of the community?

[EskimoBob]

I made a joke few pages back abut 5 BTC to get my blessing.
Guess what, this joker sent me 0.0005 BTC and the account number for 5000 BTC transfer.
Those guys are either scammers or this is just another joke on BTC community greed and stupidity.

[greyhawk]

I made a joke few pages back abut 5 BTC to get my blessing.
Guess what, this joker sent me 0.0005 BTC and the account number for 5000 BTC transfer.
Those guys are either scammers or this is just another joke on BTC community greed and stupidity.

He's the Capital One guy under a new name. You know, that outfit that was so hilariously broken, that nefario established his new rules for being listed on GLBSE just so he wouldnt have to put this guy up.

[WITRcenter]

I made a joke few pages back abut 5 BTC to get my blessing.
Guess what, this joker sent me 0.0005 BTC and the account number for 5000 BTC transfer.
Those guys are either scammers or this is just another joke on BTC community greed and stupidity.

EsikmoBob, since you have admitted that you indeed had checked the address, you're a fool who was fooled. The investors who dare to take a little bit on this venture is much much more smart than you.

Attached is the PM history between me and EskimoBob. Smart people won't waste their time to check the address as they can know it is only a parody joke. And after my replying that the 0.0005 BTC was generated by my "mind power", he still persisted publicly here that the coin is sent by me. So my investors, you can guess the EQ level of EsikmoBob. So he trolls me and you are buying my share, I think you are not necessarily wrong.

EsikmoBob, I don't know who sent you the 0.0005BTC. It's not me. (Actually, I am not even sure whether there is really a tip coins donated to you. I don't care.) I have reminded you to check the address first to prevent you from being fool enough to send the 5000 coins right away.

Contract reads like it's written by a 12 year old
Verification: None

Can I send you 5000 coins? If yes, please send me 5 BTC to 1KLhpqL3QGi4a78scb4bonHybrm5iSsoTz to confirm you wish to be blessed.

 

Hello, EskimoBob,

Do you really want to invest so much money in my business? There is risk and you have to think about it seriously. I have sent 5 BTC to your address  and please check it. If you receive the coin and you have not changed your mind, please send 5,000 BTC to this address:

1ChQrwWvGoxSjSaj7cNdgGsqXADAMYTTqi

Thanks.

I only see a transfer of 0.0005 BTC, not 5 BTC.  This is only 10 000 times less than 5

So you really need my blessing? You know that I am not X priest, yes?

Unlike Uri can kill an animal with his thoughts, my mind power can generate 0.0005BTC transaction so far.

[WITRcenter]

He's the Capital One guy under a new name. You know, that outfit that was so hilariously broken, that nefario established his new rules for being listed on GLBSE just so he wouldnt have to put this guy up.

I'm just with a new name, but not under a new name. You're misleading here.

Firstly, I did not cover anything. I have stated the Capital One history in my OP very clearly. It is the exactly same business and nearly the same contract. I changed the name to avoid violating the trademark to bring the exchange legal trouble, while Nefario team aren't afraid of the SEC or British CSRC looking after them.

Secondly,  GLBSE is a private property of Nefario. He can refuse or stop any security to list on his exchange. There is no way that he "have to" put something up. Nefario has offered me to list my share under the condition of verification. I did not take the offer. As an exchange he should neutral to the fact. I don't think he has any rights to publicly accuse the applicant is a scam since I have not actually run away with people's money.  Other people who trolls me I may have the option to argue or ignore, when Nefario trolls me I of course will not list on his exchange.
 

[WITRcenter]

Could you disclose your identity and business model to a trusted member of the community?

I will do this when the timing and circumstance is right. If you and anyone else is really interested, why not talk to me on the skype. WITRcenter.

I guess I cannot succeed in raising 20m USD 3 or 6 months later if I persist that I will keep anonymous.