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Author Topic: [BTC-TC] BitVPS  (Read 32589 times)
Namworld
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February 05, 2013, 05:43:41 AM
 #1

Hello,

S.BVPS is being moved to BTCT.co (Delisting from MPEx on the 15th)

People can sign with their MPEx gpg key a message containing only their BTCT.co username and send it to me as of now. Once we get the list of keys with associated holding, we'll begin transferring.

Regards.
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February 05, 2013, 07:28:34 AM
 #2

Hello,

S.BVPS is being moved to BTCT.co (Delisting from MPEx on the 15th)

Everyone will receive intructions soon.

Regards.

Thanks a lot! I hope Brendio is still around!
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February 06, 2013, 10:37:06 AM
 #3

Updated op post.

We're now taking signed statements for BitVPS's transfer.
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February 16, 2013, 07:46:38 AM
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Shares have been transferred. We're missing 1 individual to sign/show himself.
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February 16, 2013, 11:47:47 AM
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Shares have been transferred. We're missing 1 individual to sign/show himself.

Is it brendio? :/
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February 16, 2013, 11:51:05 AM
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Nope, it was not, He sent his signature the day before we got delisted I think.

We now have all holders confirmed and moved to BTCT.co
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February 17, 2013, 01:25:03 PM
 #7

Where are past monthly statements of performance?

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February 17, 2013, 01:30:04 PM
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RG wasn't making any. The finances for the last few months he was around are unkown.
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February 17, 2013, 01:32:36 PM
 #9

RG wasn't making any. The finances for the last few months he was around are unkown.

When do you plan to release something current then?  Seeing some picture of the company's performance would go far before anyone were to invest.

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February 17, 2013, 02:43:32 PM
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We're not issuing any more shares on the market currently. We're just keeping the shares alive.
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February 17, 2013, 02:59:02 PM
 #11

We're not issuing any more shares on the market currently. We're just keeping the shares alive.

Sure, but the financials on your site end last July.  Something current will help me decide if the listing is worth it to me to buy from the float.  I understand you are getting the house in order, so I am not sitting here demanding they be up in the next hour, but sometime soon, like within a month should be a goal.

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March 25, 2013, 05:16:00 PM
 #12

Hi,

thank you for the earning statements of the last monthes. However, I would be also interested in an inventory. Right now, if I do it myself, I get:

Server #1:  1706.65 USD
Server #2:  2419.99 USD
RAM:             636.00 USD
Reserve:    -4684.33 USD

=                     78.31 USD

Is that correct?


Also, as a potential investor, I would like to know about your plans to make your business profitable again. Because right now your february expenses even after deducing the purchases amount to 1364.37 USD, while your sales are only 1129.48. I like your idea of buying servers instead of renting them. But still, I need some more trust in future earnings to actually invest.

One last question: Will the profits be distributed to all shares (1000000) or only to the outstanding shares (262408)? Because right now I understood, that the non-outstanding shares belong to the management and therefore their part of the earnings will go to you.
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March 26, 2013, 01:42:27 AM
 #13

The 1 million shares are paid for, just like they used to on MPEx.

February hasn't been the best month but that can depend on when renewal dates are on servers.

As for becoming profitable, you will notice in an announcement on BTCT.co

Quote
Planned Savings:

    Chicago 1:    410 USD
    Dallas 2:    227 USD
    California 1:    259 USD
    California IP range:    24 USD
    California IP range:    29 USD
    California 2:    400 USD

Estimated colocation costs in New York: Up to 600 USD depending on bandwidth/# IPs/extras used by customers.

The servers rent we will be cutting will total 1,349 USD, estimated costs for colocation will be 500-600 USD. A minimum of 700 USD monthly in savings. With more clients/servers, the savings on colocation would be even greater with discounts from the datacenter.

As a side note, there was 1,381.94 USD income in February, not 1129.48 USD. 1129.48 USD is only BTC -> USD conversions at the time. There was also some sales in USD.

We have a much better month for  March to top it, you can wait for the March statement. We also have a new design at no costs. We'll still have to pay for servers rent on top of it, hopefully only for one more month, while we get in touch with every customers and get them transferred. With the savings we can pay the debt for the equipment and after a few months we'll be turning in a profit.

Regards.
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March 26, 2013, 02:49:22 AM
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The 1 million shares are paid for, just like they used to on MPEx.

February hasn't been the best month but that can depend on when renewal dates are on servers.

As for becoming profitable, you will notice in an announcement on BTCT.co

Quote
Planned Savings:

    Chicago 1:    410 USD
    Dallas 2:    227 USD
    California 1:    259 USD
    California IP range:    24 USD
    California IP range:    29 USD
    California 2:    400 USD

Estimated colocation costs in New York: Up to 600 USD depending on bandwidth/# IPs/extras used by customers.

The servers rent we will be cutting will total 1,349 USD, estimated costs for colocation will be 500-600 USD. A minimum of 700 USD monthly in savings. With more clients/servers, the savings on colocation would be even greater with discounts from the datacenter.

As a side note, there was 1,381.94 USD income in February, not 1129.48 USD. 1129.48 USD is only BTC -> USD conversions at the time. There was also some sales in USD.

We have a much better month for  March to top it, you can wait for the March statement. We also have a new design at no costs. We'll still have to pay for servers rent on top of it, hopefully only for one more month, while we get in touch with every customers and get them transferred. With the savings we can pay the debt for the equipment and after a few months we'll be turning in a profit.

Regards.

Just thought I would state that BitVPS is a great company and I'll be renewing my annual subscription in a month or two. I will be getting a KVM-6 this time, since my kongzi.ca project is almost ready to go live and is already accumulating users and data. So that should help out with the costs.

Good luck guys. Great business.
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March 27, 2013, 09:23:34 AM
 #15

Thank you, namworld, for your detailed answer. I like your company, because of the nice investor relation policies and because I like the way you are handling the "turnaround". I'm really looking forward to your next earning record, because I'm curious how the company's development continued.

Sadly, the valuation at btct is still somewhat high: If we assume you'll make it to monthly earnings of 1000 USD in the near future, this would at the moment equal 11.6 BTC per month or 139.2 BTC per year. However, your market cap is at 1000000*0.003 = 3000 BTC, which gives a P/E of

3000 /  139.2 = 21.6

That P/E for the optimistic case seems a little high for me. E.g. McDonalds has a P/E around 16.5 at the moment, and they are little more established than your company at the moment  Wink So to justify the valuation, you would either need to grow the company at a really high speed or the BTC conversion rate has to go down significantly.

Therefore, if I were you, I would try to sell as many shares as possible at this high valuation and buy more servers in turn. Because now you are getting the most USD and therefore the most server capacity out of your BTC.

So things are staying exciting. I'll keep watching bitvps and see if I'll find a good time to invest.  Cool
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March 27, 2013, 10:19:17 AM
 #16

We're not currently planning to release any more shares than the ones which were already released. They used to be RG's and are now the new administration's shares. Any sale of shares wouldn't go toward expenses for BitVPS.
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April 04, 2013, 07:57:16 AM
 #17

Cross-post from the BIB.BVPS thread:

Quote
I have some great news!

Brendio and I have been working together to get the BIB.BVPS shareholders taken care of.  He provided me with a copy of the GLBSE csv and I have used it to transfer all of the BIB.BVPS pass through shares directly to shares in BITVPS.

For each shareholder, a new account has been created, the shares moved into it, and an email with access details sent.

As with previous btct.co imports, I wouldn't be surprised if a lot of our emails get filtered.  Please make sure to check your spam folder.  If you held BIB.BVPS and you can't find this email anywhere, please PM me and I'll do what I can to assist.

Cheers.


I'm not a Coinbase fan -- I placed a buy order, they took the funds out of my account, then a week later the price went up and they canceled the buy and closed my account.  You've been warned.  Use a different exchange.
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April 11, 2013, 11:46:11 PM
 #18

Shouldn't the march statement be up by now?

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April 12, 2013, 04:54:30 PM
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Shouldn't the march statement be up by now?

Monday will be the 15th of April.  I'd think so.  Where is the statement?
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April 13, 2013, 03:38:54 AM
 #20

Yes, we've been pretty busy. I just added the March statement on the list. I had yet to tally the BitPay and Paypal sales.

We've turned a very small profit this month due to raising sales. New design seems quite appreciate. We have yet to complete transferring customers from certain nodes to the New York datacenter to our newly purchased servers. Once completed, we can stop paying the monthly rent on the rented servers, colocation being much cheaper.

After that profits should be up significantly and the debts for the servers/hardware acquisition should be paid off quickly.
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