[GLBSE] Ven - digital currency backed by goods

[Nefario]

One of the great things about the bitcoin conference is was the chance to meet and network with some fantastic people. A direct result of this networking is the flurry of deals that are going to start rolling out over the next few weeks and months.

The first such deal is with HubCulture, to allow their digital currency VEN to be traded (and redeemed) for bitcoin.

Everything from membership, access to hubculture pavilions, workspaces around the world, to orange juice can be bought for Ven at hubculture.com which can be traded on GLBSE.com

This asset is being provided by GLBSE itself, as a service to the users allowing them to have access to a stable asset with use outside GLBSE.

The asset itself is provided by hubculture, a registered multi-million dollar business spread around the world, as part of verification I've visited their London offices.

This is a BlueMarket asset.

Initially 10,000 ven will be up for sale.

For more information on Ven see:
https://www.hubculture.com/
https://www.hubculture.com/ven/

IPO and  asset:
https://glbse.com/ipo/220
https://glbse.com/asset/view/VEN

[Atlas]

+1 Will invest in a few.

[Bitcoin Oz]

The issue of this asset requires compliance with United Kingdom anti-money laundering (AML) laws. As such, GLBSE accounts will be required to provide proof of identity and address to GLBSE before being able to purchase units of this Asset.

If I have issued a security and already verified is that ok ?

Will there be any dividends ?

[Nefario]

The issue of this asset requires compliance with United Kingdom anti-money laundering (AML) laws. As such, GLBSE accounts will be required to provide proof of identity and address to GLBSE before being able to purchase units of this Asset.

If I have issued a security and already verified is that ok ?

Will there be any dividends ?

If you've already verified on GLBSE then you'll be fine.

I don't think there are dividends for holding Ven itself, the history of this backet currency has been of steady appreciation against the USD.

There will be a Gold fund from the same people being issued and made available to trade in the next few days as well as other funds and AFAIK these will have dividends in Ven...which is something I need to build into GLBSE.

[odolvlobo]

I looked at HubCulture about a year ago, and from what I could see, it was pretty dead.

[EskimoBob]

Looks like Ven is way more successful than bitcoin. Why am I not surprised? While bitcoin community invent new ways to rip each other off, Ven fanatics are figuring out, how to help each other to build something with RL value so everyone benefits.
I guess we have something to learn form Ven after all.

[kakobrekla]

Looks like Ven is way more successful than bitcoin. Why am I not surprised? While bitcoin community invent new ways to rip each other off, Ven fanatics are figuring out, how to help each other to build something with RL value so everyone benefits.
I guess we have something to learn form Ven after all.

Yeah, take this for example,

Learn about our historic commodity and carbon credit trades using Ven.

Insta scammer green nazi adoption.

[unclescrooge]

Carbon credit...

[Nefario]

Ven is the biggest scam ever.  You can buy 100k worth of "Carbon credits" and "Reforesting the Rainforest" vouchers with them.  The Hub Culture authors book is selling then pulp on Amazon.  Buyer beware.

Yes you can buy these if that is what you're interested in, you can also buy into a gold fund, or buy gold directly.

Other things you can buy using Ven are:
Art
Various funds (a lot of them are environment related, others gold related)
Massages
Movies, music, and books
Access to any of the hub shared workspaces in cities all around the world
Hire a private jet
Invest in (or drink) pricey wine


They don't have a very active online presence(i.e. they prefer to speak in person than spending time on a forum), apart from the site which is really just used to coordinate various activities, but the hubs themselves, the pavillions are bustling places. I've gotten a 1 month membership (bought with Ven) to work from in the center of London.

I think this is good for bitcoiners for two reasons:
1) It adds a whole huge range of products and services that people with bitcoin can now buy, we get plugged instantly into their existing network.

2) It's a stable vehicle to flee to in the event of BTC price fluctuations, obviously not appreciating as quickly as BTC itself but it has appreciated 8% against the dollar in the last couple of years. In terms of stability Ven doesn't really fluctuate at all.

[Bitcoin Oz]

Im surprised no one has setup a linden backed security yet.

[BTCurious]

Im surprised no one has setup a linden backed security yet.

Linden dollars are artificially locked to the USD rate. You might as well simply buy dollars.

[RandomQ]

Interesting company, I'm going to check out there local Meeting Hub.

[Lethos]

Not quiet sure what warrants it to be considered a blue market asset, but I'm sure someone will be interested in it.
I'm not seeing the big deal, am I missing something?

[Nefario]

Not quiet sure what warrants it to be considered a blue market asset, but I'm sure someone will be interested in it.
I'm not seeing the big deal, am I missing something?

Yeah I was thinking about this, and the whole colored market scheme doesn't work for this asset. I'm going to add another market for virtual currencies and put it in that.

Blue market is for shares and bonds.

[puffn]

Slightly off topic, but is there an explanation of the new glbse color scheme anywhere?

[Lethos]

Slightly off topic, but is there an explanation of the new glbse color scheme anywhere?

Stephen did a decent explanation, with a small correction by myself on the black market afterwards.
https://bitcointalk.org/index.php?topic=60489.msg1203243#msg1203243