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Author Topic: [BTC-TC] BitVPS  (Read 32676 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
#4

Shares have been transferred. We're missing 1 individual to sign/show himself.
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February 16, 2013, 11:47:47 AM
#5

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
#6

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
#10

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
#14

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.


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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
#19

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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May 05, 2013, 02:14:09 PM
#21

April Statement? When will dividends begin?
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May 07, 2013, 05:59:16 AM
#22

Statement should be ready by the end of the week. Not sure about dividends.
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May 08, 2013, 11:13:13 PM
#23

How do you view the other 'sheets' on this spreadsheet?  
When I view the reports linked at https://www.bitvps.com/investors   - I see the same thing for each link - Jan 2013 figures.
I don't see anything to click on to see other months.

edit: ok - looks like it's just the title is stuck at January 2013 - figures are actually different for each one.

@electricwings   BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
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May 09, 2013, 01:43:35 PM
#24

Maybe you should mention that the April Statement is up?

I am looking at the April statement, and I am not sure if I understand everything correctly. Down at the bottom, there are some "Reserve" lines, which are currently negative. Will dividend payments start once these are brought up above zero?

I see a bunch of lines for sever renting, you mentioned that you are switching to owning servers since that would be more economical, when does the switch take place?

Under expenses, there is a line with a bitpay fees of -0.2596, but in the dollar column all the expenses are shown as positive values. Is this a mistake, and it should be a positive expense, or did bitpay actually charge you a negative fee?

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May 10, 2013, 02:32:55 AM
#25

Maybe you should mention that the April Statement is up?

I am looking at the April statement, and I am not sure if I understand everything correctly. Down at the bottom, there are some "Reserve" lines, which are currently negative. Will dividend payments start once these are brought up above zero?

I see a bunch of lines for sever renting, you mentioned that you are switching to owning servers since that would be more economical, when does the switch take place?

Under expenses, there is a line with a bitpay fees of -0.2596, but in the dollar column all the expenses are shown as positive values. Is this a mistake, and it should be a positive expense, or did bitpay actually charge you a negative fee?

Sorry, my bad for the bitpay fees. I didn't copy/paste the amount correctly it seems. I corrected that.

You'll notice if you look at previous months that rented nodes have been going away.

As for dividends, they will indeed resume when reserves are back above 0. We've spent more than BitVPS had, at our own personal expense. I had to sell 80 Bitcoins around 25 USD to get 2000 USD for a server. Prices kept increasing so I didn't have them when we reached the peak of 266 USD/BTC. I sold all the BTC I had available at 250. So I lost 225 x 80 = 18,000 USD compared to if I didn't have to buy a server for BitVPS. Both me and arij had to lend our personal funds to BitVPS at zero interest to get it back on track. But we lost a lot compared to if we could have kept our Bitcoins. It hurts to even think about it >.<
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May 10, 2013, 07:57:41 AM
#26

That have been bad circumstances.
But I wish you the best for BitVPS as I am convinced of your business model.

While bitcoin is becoming more popular I bet there will be enought market to grow
into a profitable size.

I'm gonna set up an account in the next future, too. But first I'll buy shares  Cool

http://btcinvest.net/bitcoin-mining-profit-calculator.php - check it out!next difficulty + time leftcustomizable monthly (diff + USD/BTC) increasements device lead timeupdate: auto-compares device costs to BTC-buy profit ♥ 1btciBCKb59TbzNj5QzC2EXWDARxtJL1f
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May 10, 2013, 11:22:58 AM
#27

Not sure, did I miss something, but your report shows no income from VPS business in April. Is that correct?
Can you please publish BitVPS balance sheet for us too.

Thank you.


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May 10, 2013, 11:34:50 AM
#28

No profits?

Sales are at the top.
Net profit/change is at bottom in blue.
Previous reserve/new reserve in red shows the balances at end of last month and end of current month.
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May 10, 2013, 01:48:23 PM
#29

No profits?

Sales are at the top.
Net profit/change is at bottom in blue.
Previous reserve/new reserve in red shows the balances at end of last month and end of current month.

It is a bit confusing having the separate columns for USD and BTC, but once I understood what you are doing that makes sense. When I first opened the spreadsheet the USD column was off the right side of the screen, so at first glance it looks like there is no profit, but after you see that extra column you see the company actually made some profit.


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May 10, 2013, 06:43:22 PM
#30

No profits?

Sales are at the top.
Net profit/change is at bottom in blue.
Previous reserve/new reserve in red shows the balances at end of last month and end of current month.

It is a bit confusing having the separate columns for USD and BTC, but once I understood what you are doing that makes sense. When I first opened the spreadsheet the USD column was off the right side of the screen, so at first glance it looks like there is no profit, but after you see that extra column you see the company actually made some profit.



Smiley same here. I did not even notice that USD column. I did not notice the horizontal scroll.
Why did you name that BTC column in "CONVERSIONS" as "income"

Income is a financial gain (earned or unearned) accruing over a given period of time.
Selling 2 BTC is not "income" of "-2 BTC" Smiley

BTW, I was searching for help on multy-currency accounting and ended up on this page: http://gnucash.org/docs/v2.4/C/gnucash-guide/chapter_currency.html
This is typical accounting and not really gnucash specific. Best thing you can do is to consider BTC as a investment to "something" and not as a currency used for accounting.

BTW, can you show us that balance sheet of yours too. 

Cheers.

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May 10, 2013, 10:49:14 PM
#31

I'm simply assuming we might need to convert USD to BTC, although I suspect more often than not BTC will be converted to USD to pay expenses. That section works both way.
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May 11, 2013, 01:57:50 AM
#32

I'm simply assuming we might need to convert USD to BTC, although I suspect more often than not BTC will be converted to USD to pay expenses. That section works both way.

Someday you will be able to pay the power bill in bitcoins?

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May 11, 2013, 08:45:21 AM
#33

I'm simply assuming we might need to convert USD to BTC, although I suspect more often than not BTC will be converted to USD to pay expenses. That section works both way.

I assume you live in US so USD is your base currency for all the accounting no matter if you like it or not Smiley
Everything you sell or buy is in USD or is calculated from USD.
So, take the BTC you have and handle it as it was a stock or foreign currency but not your base currency for accounting.
Your basic account structure will look something like this:
Code:
-Assets                      (USD)
   -Current Assets           (USD)
      -US Bank               (USD)
   -Fixed Assets             (USD)
      -"Server Z"             
         -Cost               (USD)
         -Depreciation       (USD)
      -Some other stuff      (USD)
         -Cost               (USD)
         -Depreciation       (USD)

   -Investments
       -Bitcoins             (USD)  <- Yes, USD! (or EUR etc)
-Equity                      (USD)
   -Opening Balances
      -USD                   (USD)
   - ...
   -Shareholders Equity      (USD)

and so on and on

If this makes no sense, read up on basic accounting or get someone to help you. You can actually figure this all out buy reading gnucash help and examples starting from the beginning . Search, if something makes no sense. Get the terminology correct or you will get confused and screw up. Wink
BTW, this is not as hard as CPA's like you to think. Old ladies can pick this up in matter of days/weeks and become an accountant.
Your business is not that complicated. All you really need is a good accounts structure and you ready to go.

I am not a accountant but I can help you setting up the account structure because I have done it multiple times and made my share of mistakes on the way Smiley


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May 20, 2013, 03:43:29 PM
#34

Greetings, I have a couple questions as a potential investor.

1. How open are you to investor ideas and help? For example, I am a web developer by trade and my biggest client is a company that specializes in servers and disaster recovery services. Would you be open to publicly or privately releasing the specs on your current servers in the interest of shopping around and trying to find cheaper hosting? I understand you recently moved your servers and I know that can be a pain, but there is a good chance there could be some significant savings.

2. Is there any focus on the company's online image? The current site design is passable, but it's somewhat lackluster. The "About Us" page is totally blank. Both your Twitter and Facebook pages are totally blank. While these things are superficial, unfortunately they actually matter. I do this for a living and there are some basic things you could do to improve the site. Believe me, I know this superficial "online presence" stuff sucks, but it works.

3. Are there any plans to invest in marketing? I think marketing on sites like Reddit that let you advertise directly to a subreddit offer an opportunity to market cheaply to a very targeted audience. On top of this, are there any pushes to land more "big name" sites by giving discounted hosting in exchange for some space on the homepage? Basically, is the current focus to grow solely on word of mouth?

I think you guys are sitting on top of something very big and with a little more attention to marketing and image, things could really take off. People who use BTC have a sense of pride in what they are doing. They believe in BTC for more than monetary reasons, for many there are deep ideological reasons. When I look at your site I see a VPS company that happens to take BTC, I think you guys should be the BTC VPS company. You could use your Twitter feed to post BTC related stories. You could engage on Facebook with BTC related businesses and bloggers. As someone who has researched you, I know that you host Clark Moody's ticker, why not start a small section on the home page of BTC related businesses you currently host? Maybe have an FAQ section where there is an easy explanation on how to buy BTC and give a first free month to people who pay in BTC. There are dozens of little things like this that will help solidify you as the number one BTC VPS service on the net.

I'm interested in hearing your thoughts on all this.

Reputation Thread (https://bitcointalk.org/index.php?topic=210449.0) | BITVPS: VPS & Dedicated Servers for BTC (https://www.bitvps.com/)
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May 20, 2013, 06:07:54 PM
#35

We took over in December and have been pretty hard pressed expenses wise in the beginning.

1. Not much. We used to rent them. We now have owned servers co-located in New York. We don't have the means to move around. As for server prices, they are published along specs in monthly statements.
2. If you haven't seen our previous website, it was a plain black header/footer with black on white text and a little bit of color. We had no budget for a new design and had to produce one. There is still improvements to come to the current website.
3. Some of our clients are already receiving discounts in exchange of a prominent banner/ad. We're also the most widely advertised servers for Bitcoin service around the community. We don't usually have to pay for this. We're the most known around.

I think you guys are sitting on top of something very big and with a little more attention to marketing and image, things could really take off. People who use BTC have a sense of pride in what they are doing. They believe in BTC for more than monetary reasons, for many there are deep ideological reasons. When I look at your site I see a VPS company that happens to take BTC, I think you guys should be the BTC VPS company.
We pretty much already are, I believe.

As someone who has researched you, I know that you host Clark Moody's ticker, why not start a small section on the home page of BTC related businesses you currently host? Maybe have an FAQ section where there is an easy explanation on how to buy BTC and give a first free month to people who pay in BTC. There are dozens of little things like this that will help solidify you as the number one BTC VPS service on the net.
Yes, we will have a reviews/clients section eventually.
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May 20, 2013, 08:59:40 PM
#36

Thank you for the swift and detailed responses. It is most appreciated and inspires a lot of confidence.

Quote
Not much. We used to rent them. We now have owned servers co-located in New York. We don't have the means to move around. As for server prices, they are published along specs in monthly statements.

In terms of the server specs, I was asking about the actual hardware specs. I can see the prices on the balance sheets, but I can't see what you're getting for those prices. Regardless, I understand that switching server companies is a giant pain and it is off the table as an option right now. If this is something that you guys want to explore in the future, please feel free to contact me.

Quote
If you haven't seen our previous website, it was a plain black header/footer with black on white text and a little bit of color. We had no budget for a new design and had to produce one. There is still improvements to come to the current website.

Good to know. I'm glad you guys see having a solid website as a priority and have taken steps to make it better.

I am very happy to hear your responses. Again, thanks for taking the time to respond to my questions. I will be looking to purchase shares ASAP. Smiley

Reputation Thread (https://bitcointalk.org/index.php?topic=210449.0) | BITVPS: VPS & Dedicated Servers for BTC (https://www.bitvps.com/)
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May 21, 2013, 04:43:16 PM
#37

Hello,

Quick question:  I see 359,306 shares on float out of 1,000,000 issued.  The ~650,000 left they are there any rules on how they can be issued for example: would it be possible to trade X share for a marketing deal?

-nar
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May 21, 2013, 04:52:58 PM
#38

Hello,

Quick question:  I see 359,306 shares on float out of 1,000,000 issued.  The ~650,000 left they are there any rules on how they can be issued for example: would it be possible to trade X share for a marketing deal?

-nar

Each share represents 1/1'000'000th of profits. They are effectively all currently issued. That 1 or 500'000 are outstanding bears no impact for holders. Non outstanding shares are the owners' shares. They can be used as seen fit.
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May 22, 2013, 02:52:20 PM
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I strongly advise trading some shares for some marketing to kick up new sales.  I like the openness of the business.  However not sure how much longer you can go without some profit.
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May 22, 2013, 05:10:11 PM
#40

I strongly advise trading some shares for some marketing to kick up new sales.  I like the openness of the business.  However not sure how much longer you can go without some profit.

Did you look at the monthly statement? There was "some profit" last month.

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June 05, 2013, 12:31:07 AM
#41

Is there a more or less fixed day of the month for the previous month's statement to be released?

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June 05, 2013, 03:27:31 AM
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No. Should be released soon. Usually it should be out within the first 2 weeks of the month. No exact schedule tho.
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June 05, 2013, 07:56:46 AM
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No. Should be released soon. Usually it should be out within the first 2 weeks of the month. No exact schedule tho.
Thanks!

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June 05, 2013, 08:08:06 AM
#44

Report is now available on BitVPS website.
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June 08, 2013, 05:24:18 PM
#45

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oZoNo voted NO with comment: Shareholders own nothing except the right to a share of the profits. The issuer owns all the assets. This is effectively a loan that never has to be paid back. -- odolvlobo

While I still think BitVPS has great potential and is a very interesting security, I kind of agree with oZoNo's point: why doesn't this stock come with voting powers?
It should be natural to have something like the power to elect a board member, and/or being automatically granted a board seat if you have enough shares...

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June 09, 2013, 06:42:57 AM
#46

Report is now available on BitVPS website.

Thank you for the report.
Can you publish your balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity.

BTW, BitVPS link in your signature is not working.

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June 09, 2013, 07:31:41 AM
#47

While I still think BitVPS has great potential and is a very interesting security, I kind of agree with oZoNo's point: why doesn't this stock come with voting powers?
It should be natural to have something like the power to elect a board member, and/or being automatically granted a board seat if you have enough shares...
Because it's not stock, it's profit rights. It's a continuation of what RG started.

Can you publish your balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity.

The balance sheet is right at the bottom of reports as a balance or debt. Shareholders equity is 1/1'000'000th profit shares/unit. Not sure what more you want, I don't have anything more to put on there. The servers are not listed but they're all in expenses on one of the reports.
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June 09, 2013, 07:46:49 AM
#48

While I still think BitVPS has great potential and is a very interesting security, I kind of agree with oZoNo's point: why doesn't this stock come with voting powers?
It should be natural to have something like the power to elect a board member, and/or being automatically granted a board seat if you have enough shares...
Because it's not stock, it's profit rights. It's a continuation of what RG started.

Can you publish your balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity.

The balance sheet is right at the bottom of reports as a balance or debt. Shareholders equity is 1/1'000'000th profit shares/unit. Not sure what more you want, I don't have anything more to put on there. The servers are not listed but they're all in expenses on one of the reports.

What about BitVPS assets (current, non-current etc)?
Shareholders equity is the initial amount of BTC that got invested invested into BitVPS (all of it, including reinvested profit!).

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June 09, 2013, 08:25:43 AM
#49

While I still think BitVPS has great potential and is a very interesting security, I kind of agree with oZoNo's point: why doesn't this stock come with voting powers?
It should be natural to have something like the power to elect a board member, and/or being automatically granted a board seat if you have enough shares...
Because it's not stock, it's profit rights. It's a continuation of what RG started.

Can you publish your balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity.

The balance sheet is right at the bottom of reports as a balance or debt. Shareholders equity is 1/1'000'000th profit shares/unit. Not sure what more you want, I don't have anything more to put on there. The servers are not listed but they're all in expenses on one of the reports.

What about BitVPS assets (current, non-current etc)?
Shareholders equity is the initial amount of BTC that got invested invested into BitVPS (all of it, including reinvested profit!).

They were not funding shares, they were profit leases. RG could have spent the money however he liked. He had 100% of profits and decided to sell rights to profit. All 1'000'000 units are issued and active from the start. I have no idea what happened with whatever funds he raised either and it doesn't matter, he wasn't selling ownership in a funding round, he sold rights to profit, with 1'000'000 non-voting units with rights to 1/1'000'000th of profit each, all owned by him personally and active.

They're not common stock, there's no treasury stock, nothing. Just rights to 1/1'000'000th of profit. Otherwise profits would be split between outstanding shares instead of being given a fixed portion of profit.

The only assets are servers + current balances. It's all BitVPS possess currently.
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June 09, 2013, 12:12:40 PM
#50

PM'ed you with a link to recommended reading Wink

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June 09, 2013, 12:50:27 PM
#51

PM'ed you with a link to recommended reading Wink


The statements contain 100% of all BitVPS has, other than listing the owned equipment. There's absolutly zero of the stuff from that link that can be added. There's nothing more. We don't have assets other than servers, we don't have any liabilities, all expenses and BTC/USD conversions are list. What specific info do you want? Those statement not only provide the balances BitVPS has, it shows all the credits/debits from month to month.

I have absolutely zero extra data available to add, other than a list of equipment currently owned.

What exactly are you looking for?
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June 09, 2013, 12:56:16 PM
#52

Here is a question: How many more accounts could BitVPS add to fill up the currently owned servers?

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June 09, 2013, 01:06:16 PM
#53

Here is a question: How many more accounts could BitVPS add to fill up the currently owned servers?

That's a rough question, considering there's multiple plans available and each user don't use the same portion of their limit. I honestly don't have a clue. Try asking arij in BitVPS's IRC channel, he can probably give a rough estimate.
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June 13, 2013, 07:48:57 PM
#54

I think it's pretty clear to anyone who read the BitVPS charter that the "shares" being purchased are essentially a variable annuity which pays out shares of BitVPS' profit.  It is somewhat confusing that the asset is labeled a stock, but I view that more as a limitation of the exchange rather than intentional deception.

BitVPS appears to have become solidly profitable now after the recent cost-cutting.  It looks like if June is as good as May was, the company should be debt-free.  However, forgive me if I'm wrong, but it appears that you have your income rows mixed up (reporting BTC income in the $ row and vice versa).
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June 13, 2013, 09:25:12 PM
#55

Namworld, it makes no difference what you call them - shares, variable annuity, ding-dongs etc. Proper financial reports are still needed to understand, how you guys are doing.
Can you please produce the missing balance sheet with your profit/loss and cash flow statement.

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June 15, 2013, 10:53:35 PM
#56

Proper financial reports are still needed to understand, how you guys are doing.

Those report sheets contains numbers for all we have, except the servers. There is no extra assets, no extra funds, no extra debts, no extra obligations. I know some businesses have a wide list of debts, obligations and assets, but at our size, we only have those servers which we colocate and the cash balances (or if negative, debt to us for expenses we had to cover ourselves.) Those reports are a 100% accurate portrait of where BitVPS currently stands. There is nothing else to show. Just month to month expenses/sales and occasional extra purchases like hardware. With added BTC/USD conversion and rates for extra transparency, as well as all purchases well detailed. This is already more than most around here do.

If I made any more complex reports to list the kind of things you pointed were missing, I'd be adding extra sections filled with zeros.
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June 15, 2013, 10:55:38 PM
#57

Those report sheets contains numbers for all we have, except the servers. There is no extra assets, no extra funds, no extra debts, no extra obligations.
I feel your pain, it must be exhausting to have people constantly asking over and over for something that isn't there... I'm sorry; keep on the great work nonetheless!

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July 03, 2013, 09:17:19 AM
#58

Those report sheets contains numbers for all we have, except the servers. There is no extra assets, no extra funds, no extra debts, no extra obligations.
I feel your pain, it must be exhausting to have people constantly asking over and over for something that isn't there... I'm sorry; keep on the great work nonetheless!


True, but there's indeed many sections missing as he pointed out. Only they would be filled with zeroes in our case, except for assets holding as I said. I'll start keeping track of hardware held if we start having more servers or when servers start breaking.

Statement for June published. The debt backlog was cleared and we managed to go get a small dividend out this month. 4 BTC dividend, or 400 Satoshi per unit. Full dividend expected starting next month. (A portion of profits will be held aside on each month's profit for future large expenses. As usual, you will be able to see the current reserves at the end of each monthly statement. As before on MPEx, at least 1/3rd of profit will be paid out each month.)
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July 25, 2013, 06:23:25 AM
#59

Oops I "lost" my shares by selling them at 0.002. Having bought them at 0.0006 I didn't think they'd go that high after the first dividend.

Now I'm not sure I want to buy in again - too bad as I liked to have a non-mining company.
Congratulations on being profitable!
If you want you can buy back at 0.001882 now Wink

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August 01, 2013, 07:26:56 AM
#60

Oops I "lost" my shares by selling them at 0.002. Having bought them at 0.0006 I didn't think they'd go that high after the first dividend.

Now I'm not sure I want to buy in again - too bad as I liked to have a non-mining company.
Congratulations on being profitable!
If you want you can buy back at 0.001882 now Wink

0.001500 last I checked been a while are July Financials due now
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August 03, 2013, 02:52:20 AM
#61

Nice job in July, guys.
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August 03, 2013, 04:04:32 AM
#62

Monthly statement published
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August 03, 2013, 09:45:54 AM
#63

Monthly statement published
Just read it, it was a gg!

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August 30, 2013, 03:44:40 PM
#64

Is Bitvps down?
http://www.isitdownrightnow.com/bitvps.com.html
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August 30, 2013, 05:14:57 PM
#65

use host-tracker instead.

and apparently yes, it is down (domain lookup failure).

if someone has their IP address, we could check if that works.
or we could check if their hosted servers work.

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#66

use host-tracker instead.

and apparently yes, it is down (domain lookup failure).

if someone has their IP address, we could check if that works.
or we could check if their hosted servers work.


I have a server hosted with them. mwguy.us & index.mwguy.us . That's how I first noticed the problem.

IPV6 : 2610:1c0:0:6:0:feed:43c2:c9ae
IPV4 : 207.12.89.171
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#67

Arij is at the DC to check on the situation.
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September 03, 2013, 04:37:41 PM
#68

Will there be a monthly statement for August?
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September 05, 2013, 04:59:51 AM
#69

Will there be a monthly statement for August?

Yes, it just got published.

It's done within the first week of each month. Please don't request unless it's late. Everyone keeps asking each month Tongue
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September 10, 2013, 08:51:47 AM
#70

Will there be a monthly statement for August?

Yes, it just got published.

It's done within the first week of each month. Please don't request unless it's late. Everyone keeps asking each month Tongue

It looks like you removed 'investors' section from your web site...

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September 10, 2013, 09:44:31 AM
#71

Will there be a monthly statement for August?

Yes, it just got published.

It's done within the first week of each month. Please don't request unless it's late. Everyone keeps asking each month Tongue

It looks like you removed 'investors' section from your web site...

It's now linked from the details page from BTCT.co
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September 23, 2013, 01:17:58 PM
#72

Namworld, what is your take on BTCT shutting down? I imagine with the growth BitVPS has seen over the recent months, relisting on an alternative exchange is not out of the question?

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September 23, 2013, 06:07:11 PM
#73

Namworld, what is your take on BTCT shutting down? I imagine with the growth BitVPS has seen over the recent months, relisting on an alternative exchange is not out of the question?
I'd strongly suggest Havelock.
Not because I trust it, but because I distrust very much Bitfunder.

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September 24, 2013, 02:59:22 PM
#74


I wanted to post a reply here since we have not seen Namworld in a few days. We're very surprised that he's been missing, considering he's a very prolific investor on BTCT and throughout the Bitcoin community.

BitVPS is very disappointed in the BTCT changes. Our share price has tanked due to this news, and there have been no fundamental changes in our financial situation. We are doing better today than any time in the history of BTCVPS/BitVPS. We actually own most of our own equipment now and have been very busy internally investing in infrastructure upgrades including the procurement of redundant switch gear, more servers, better I/O systems, more disks and memory, etc.

Our dividends dropped this past month but only because we've been re-investing into our infrastructure. Thing is, we were PAYING dividends which is great for us. We've got profits to distribute!

We hope to find a way out of this situation soon but we're still evaluating our options at the moment. It looks like Havelock is our best bet so far but we've not committed to anything yet.

We hope to be in touch with Namworld soon so we can get his take on the situation.


Thanks for the inquiry,
-phungus

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September 24, 2013, 03:11:14 PM
#75


I wanted to post a reply here since we have not seen Namworld in a few days. We're very surprised that he's been missing, considering he's a very prolific investor on BTCT and throughout the Bitcoin community.

BitVPS is very disappointed in the BTCT changes. Our share price has tanked due to this news, and there have been no fundamental changes in our financial situation. We are doing better today than any time in the history of BTCVPS/BitVPS. We actually own most of our own equipment now and have been very busy internally investing in infrastructure upgrades including the procurement of redundant switch gear, more servers, better I/O systems, more disks and memory, etc.

Our dividends dropped this past month but only because we've been re-investing into our infrastructure. Thing is, we were PAYING dividends which is great for us. We've got profits to distribute!

We hope to find a way out of this situation soon but we're still evaluating our options at the moment. It looks like Havelock is our best bet so far but we've not committed to anything yet.

We hope to be in touch with Namworld soon so we can get his take on the situation.


Thanks for the inquiry,
-phungus

Glad to have Co-own replied to us. Despite i am not a holder of VPS, but I'd like to know do you have contact of Namjies, call him back and tell him to deal with all the mess caused by the close down, both on VPS and the BTCBOND side. AFAIK someone is making sell orders at 50% FV and selling down some shares to 30% FV (for a period yesterday, now is ~85%FV priced). Would like to see if you can have some method to call him back and at least post a comment or two on where to go.

PS: Bitfunder sucks+1

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September 24, 2013, 03:17:17 PM
#76



PS: Bitfunder sucks+1

Yes, If you will relist on another exchange, I suggest looking at Havelock. But I wouldn't mind BitFunder so much, if they give you a better deal on getting relisted you should take it.

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September 24, 2013, 03:45:12 PM
#77

For the worst option you can get, why not cryptostocks! it is since GLBSE and still not collapsed!
done trolling with sarcasm

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September 24, 2013, 06:29:25 PM
#78

Hello,

I've been away this weekend. Will find an exchange to be transfered to once I'm back.
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October 07, 2013, 04:06:04 PM
#79

So any news to share tranfer? Also why were dividends not paid out ?
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October 07, 2013, 04:08:04 PM
#80

So any news to share tranfer? Also why were dividends not paid out ?
Skype or phone him (just check the whois of his domain phone). he seems seldom check mail or here.

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October 09, 2013, 10:19:30 PM
#81

whats up here?
Id like to hold my shares.

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October 10, 2013, 03:26:18 AM
#82

More than 2 weeks since the last "update."

No word from anybody at BitVPS regarding a new exchange, direct shares or buyout.

And still no dividend payment.

What's going on?

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October 13, 2013, 10:06:27 PM
#83

I'm getting worried now:

News sent to shareholders:
Quote
There is currently no acceptable place to move the asset. Havelock is not accepting new assets and BTCT.co is closing down and Bitfunder is closing down to US.

Bonds will be bought back. For large holders who would wish to stay, they will be able to lend me funds directly under new terms (1% per month), paid directly to their BTC address.

Please make sure you provided a public BTC address on BTCT.co and that it is accurate. PAYMENTS WILL BE MADE TO THAT ADDRESS!

He's talking about BTC-BOND over there, but I'm worried nonetheless, especially since we got no update here.

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October 13, 2013, 10:27:06 PM
#84

Hello,

As said on other threads, Havelock is not accepting new assets. Bitfunder does not accept US businesses. I am currently unsure about what will be done with shares.

As for statements, I am personally leaving BitVPS and needs to show arij how to do statements and transfer him all passwords and info needed to manage finances. He's been quite busy lately dealing with transfers however. There will be no dividend for September as we made new purchases. We're also moving to a private cabinet at NYI. We might keep making acquisition, focus on advertising and accumulate profits until a solution is found. Havelock may start accepting new assets at some point, but want to check some things first.

I will have to discuss these matters further with the others.

(As a sidenote, as some may know, when RG abandoned BitVPS, I accepted to join as RG had sold me a large amount of shares prior to that. I still have my shares and even more than before and will remain a shareholder.)

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October 13, 2013, 10:30:05 PM
#85

Thank you for the update, bad news are much better than no news at all : )

Still not the end of the world, it will get a bit complicated, but as long as who will be in charge is willing, we can go on a few months without an exchange.
Either with direct shares or waiting for the new exchange based on btct code.

PS: exchange or no exchange, I will expect to still receive monthly updates, right? (and the delay of this month is obviously very acceptable)

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October 13, 2013, 10:36:23 PM
#86

Thank you for the update, bad news are much better than no news at all : )

Still not the end of the world, it will get a bit complicated, but as long as who will be in charge is willing, we can go on a few months without an exchange.
Either with direct shares or waiting for the new exchange based on btct code.

PS: exchange or no exchange, I will expect to still receive monthly updates, right? (and the delay of this month is obviously very acceptable)


Yes, we should have monthly statements in order.
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October 14, 2013, 10:29:13 AM
#87

So, what about going back to MPEx?
No sarcasm intended, I don't understand if this is supposed to be a joke or not.

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October 14, 2013, 12:19:45 PM
#88

It's not. It used to be on MPEx but was delisted: http://trilema.com/2013/sbvps-delisting-notice/
mpex has one of the worst interfaces I've ever seen, one of the worst PR I've ever noticed, and a 30 BTC registration fee.
30 BTC is more or less 1-2% of the whole BITVPS.
Unless they offered free accounts to every BITVPS current investor, it shouldn't even be considered, even disregarding the horrible interface and PR (which, alone, would be enough to walk away IMO).

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October 14, 2013, 12:47:10 PM
#89

The MPEx access isn't for mere mortals. Brokers are available, for example https://coinbr.com/about
Quote
Account management fee : 0.09 BTC monthly.
Quote
BTC withdrawals and asset transfers : 0.1 BTC fee
Quote
Service is under active development and there are no guarantees except our best effort
So you pay, but technically you have no rights.

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October 14, 2013, 09:46:07 PM
#90

mpex has one of the worst interfaces I've ever seen, one of the worst PR I've ever noticed, and a 30 BTC registration fee.
30 BTC is more or less 1-2% of the whole BITVPS.
Unless they offered free accounts to every BITVPS current investor, it shouldn't even be considered, even disregarding the horrible interface and PR (which, alone, would be enough to walk away IMO).

You really have trouble learning, do you. How is it that you find yourself still convinced that what's important about an exchange is what its website looks like? People who hold rounded corners etc as what's important in investing have no business investing. It's been proven time and time again here and I'm sure it'll keep right on happening so long as people steadfastly cling to such completely broken ideas.

Registration was free when MPEx was in beta. You missed out. Then it was 20 BTC. You missed out. It was amply announced that the fee was only ever going to go up. You continued to miss out. Do you see the trend here? What are you doing right now?

As for "the worst PR you've ever noticed", the problem would be that what you've "noticed" before is a slew of people paid (or not) to go around patting people on the back for being idiots and ensuring everyone all the time that everything's just fine. Again, this sort of thing is only desired by and only valuable for people who would be much better suited to playing a dice game or throwing coins into a fountain for that matter. I clear stuff up, and often enough it comes with rubbing salt into cuts because otherwise, some people just cannot see through the emotional, totally undisciplined haze of their preconceived notions.

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October 15, 2013, 06:07:41 AM
#91

I think you should move the monthly statemants back to your website,https://www.bitvps.com/
This is what you can and should do now.
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October 15, 2013, 12:51:45 PM
#92

I think you should move the monthly statemants back to your website,https://www.bitvps.com/
This is what you can and should do now.
You mean linking them on the site (I agree), because they have always been published on google docs IIRC.

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October 15, 2013, 12:55:12 PM
#93

<blah blah blah blah>

You're stupid, I'll help you.

Quote
30 BTC is more or less 1-2% of the whole BITVPS.

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October 15, 2013, 02:11:37 PM
#94

https://bitcointalk.org/index.php?topic=228327.msg3337061#msg3337061
https://bitcointalk.org/index.php?topic=228327.msg3337253#msg3337253

This might be very good news.

TL;DR DMS will likely (90% chance) move to "an exchange" in the near future, and that exchange is none of the above (bitfunder, havelock, mpex).

This might mean that a new exchange is about to be born, and in that case that exchange might accept BITVPS too.

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October 16, 2013, 01:37:03 PM
#95

Let's hope its not picostocks. Cheesy

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October 16, 2013, 04:36:36 PM
#96

Cryptostocks is an exchange, and it's not in the US.
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October 16, 2013, 04:44:33 PM
#97

Currently I do not trust any random small exchange, which could be fraudolent or incompetent and any bad thing can happen.

We should convert to a direct share system, and/or wait for a real exchange to come out.

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October 17, 2013, 07:28:09 AM
#98

I think move back to Mpex is a good idea,BVPS started from Mpex!
And most of the share holders have a Mpex account.people who for whatever reason don't want a full MPEx account
can always register with a MPEx broker such as coinbr.com.
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October 17, 2013, 07:34:40 AM
#99

mpex will not accept bitvps
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October 17, 2013, 07:36:22 AM

mpex will not accept bitvps
I won't accept mpex.

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October 17, 2013, 07:40:12 AM

mpex will not accept bitvps
I won't accept mpex.


Then don't accept mpex, but if the asset issuer decides to get on mpex (which wont happen as they wont accept it), if you dont like mpex you're SOL
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October 17, 2013, 01:53:22 PM

mpex will not accept bitvps

Link?

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October 19, 2013, 05:08:22 AM

Mpex will accept BVPS.It's all about business.
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October 19, 2013, 10:21:58 PM

Are there really enough shareholders to worry about an exchange? Couldn't direct shares be taken care of without much hassle?

Edit: Did I miss any details on what was purchased with profits this past month? Is there a timeline for you (Namworld) stepping down and arij making the transition?

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October 20, 2013, 08:31:13 AM

Are there really enough shareholders to worry about an exchange? Couldn't direct shares be taken care of without much hassle?
Yes, I'd rather have direct shares too, much better than going to a crappy exchange.

Obviously they would have to have a minimum number of shares per trades, it wouldn't be practical to allow 1-share transfers.

Edit: Did I miss any details on what was purchased with profits this past month? Is there a timeline for you (Namworld) stepping down and arij making the transition?
The report isn't out yet, and I'd like answers to both questions too.
However, this month delays are definitely understandable.

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October 20, 2013, 02:27:23 PM

Hello,

As said on other threads, Havelock is not accepting new assets. Bitfunder does not accept US businesses. I am currently unsure about what will be done with shares.

As for statements, I am personally leaving BitVPS and needs to show arij how to do statements and transfer him all passwords and info needed to manage finances. He's been quite busy lately dealing with transfers however. There will be no dividend for September as we made new purchases. We're also moving to a private cabinet at NYI. We might keep making acquisition, focus on advertising and accumulate profits until a solution is found. Havelock may start accepting new assets at some point, but want to check some things first.

I will have to discuss these matters further with the others.

(As a sidenote, as some may know, when RG abandoned BitVPS, I accepted to join as RG had sold me a large amount of shares prior to that. I still have my shares and even more than before and will remain a shareholder.)



Hey Namworld I'm with RSM. We're moving to 796. It's a Hong Kong based exchange. You should consider them.
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October 20, 2013, 06:56:20 PM

Yeah,it's good idea,Namworld if you need any help to move to 796 in hongkong,I can help,I am Chinese.
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October 30, 2013, 06:55:55 AM

any news about this share? is it going to move somewhere???

██████████████████████████████████████████████████
████████████████████▀▀▀    ▀▀▀████████████████████
██████████████▀      ▄▄▄▄▄▄▄▄      ▀██████████████
███████████▀   ▄██████████████████▄   ▀███████████
█████████    █████████████████████████   █████████
███████`  █████▀      █▌  ██████████████   ███████
██████  █████▀  ▄██████▌  ███████▀▀███████  ▀█████
████▀  ██████  ████████▌  █████▀   ▄███████  ▐████
████  ███████  ████████▌  ███▀   ▄██████████  ████
███  ████████  ▀███████▌  ██   ▄█████████████  ███
███  █████████▄  ▀█████▌  ███████████████████  ███
███  ███████████▄    ▐█▌  ██     ▀███████████  ███
███  ██████████████████▌  ██████▄  ▀█████████  ███
███  ██████████████████▌  ████████▄  ████████  ███
███▌  ████████▌               █████  ███████  ▐███
████▄  ████████████████▌  █████████  ██████▀  ████
█████▄  ███████████████▌  ███████▀  ▄█████   █████
███████  ▀█████████████▌  ███▀▀▀  ▄█████▀  ███████
████████▄   ████████████▄▄███▄▄▄▄█████▀  ▄████████
███████████   ▀████████████████████▀    ██████████
██████████████     ▀▀████████▀▀      █████████████
██████████████████▄▄          ▄▄██████████████████
██████████████████████████████████████████████████
Pool of Stake









ICO Starts
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
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October 30, 2013, 11:49:24 AM

any news about this share? is it going to vanish???
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October 30, 2013, 03:05:49 PM

probably next scam

██████████████████████████████████████████████████
████████████████████▀▀▀    ▀▀▀████████████████████
██████████████▀      ▄▄▄▄▄▄▄▄      ▀██████████████
███████████▀   ▄██████████████████▄   ▀███████████
█████████    █████████████████████████   █████████
███████`  █████▀      █▌  ██████████████   ███████
██████  █████▀  ▄██████▌  ███████▀▀███████  ▀█████
████▀  ██████  ████████▌  █████▀   ▄███████  ▐████
████  ███████  ████████▌  ███▀   ▄██████████  ████
███  ████████  ▀███████▌  ██   ▄█████████████  ███
███  █████████▄  ▀█████▌  ███████████████████  ███
███  ███████████▄    ▐█▌  ██     ▀███████████  ███
███  ██████████████████▌  ██████▄  ▀█████████  ███
███  ██████████████████▌  ████████▄  ████████  ███
███▌  ████████▌               █████  ███████  ▐███
████▄  ████████████████▌  █████████  ██████▀  ████
█████▄  ███████████████▌  ███████▀  ▄█████   █████
███████  ▀█████████████▌  ███▀▀▀  ▄█████▀  ███████
████████▄   ████████████▄▄███▄▄▄▄█████▀  ▄████████
███████████   ▀████████████████████▀    ██████████
██████████████     ▀▀████████▀▀      █████████████
██████████████████▄▄          ▄▄██████████████████
██████████████████████████████████████████████████
Pool of Stake









ICO Starts
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
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October 30, 2013, 03:57:00 PM

CoinBr's fees are getting lowered on November 1st.
Account management fee : 0.019 BTC monthly.
BTC withdrawals and asset transfers : 0.02 BTC fee

I agree it was pretty high if you were only interested in one stock.
This is interesting.

It stil annoys me having to pay if they don't guarantee you anything, but if the price is so low it is at least reasonable, I could accept that, given the alternatives.

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October 31, 2013, 12:29:13 PM

Now I'm getting worried.

Has anyone managed to receive a response from any of the team members?

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November 08, 2013, 05:37:30 AM

Any news on a transition or the business side of BitVPS?

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November 08, 2013, 09:16:49 AM

Now we're waiting for the monthly report of september and october...

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November 09, 2013, 05:00:25 PM

In regard to what has been going on over the past two months(Income statements included):

https://www.bitvps.com/update.txt
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November 10, 2013, 01:13:31 PM

In regard to what has been going on over the past two months(Income statements included):

https://www.bitvps.com/update.txt

Thanks for the update.

While we wait for a trading venue to be chosen, can we sell shares OTC?

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November 10, 2013, 07:13:15 PM

In regard to what has been going on over the past two months(Income statements included):

https://www.bitvps.com/update.txt
Excellent news, thanks very much! : )

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November 12, 2013, 08:32:36 AM

good news.
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November 12, 2013, 10:23:27 AM

Great news
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November 14, 2013, 05:11:52 AM

In regard to what has been going on over the past two months(Income statements included):

https://www.bitvps.com/update.txt

Thanks for the update.

While we wait for a trading venue to be chosen, can we sell shares OTC?

If you want to do that just PM me and we can work something out.
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November 14, 2013, 05:31:02 AM

In regard to what has been going on over the past two months(Income statements included):

https://www.bitvps.com/update.txt

What is the unit used in the income report ? Bitcoins, us dollars, cheese cakes, bubble gums, or what ? Why is money being spent on server software, and what software is that ?
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November 15, 2013, 01:04:54 AM

In regard to what has been going on over the past two months(Income statements included):

https://www.bitvps.com/update.txt

What is the unit used in the income report ? Bitcoins, us dollars, cheese cakes, bubble gums, or what ? Why is money being spent on server software, and what software is that ?

As thankful as I am for the report and arjj popping into the thread, I agree some more details are needed. This may be a side project for the remaining members continuing the efforts but we're all here to help, just let us know what you need.

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November 18, 2013, 06:52:52 AM

Hello,

I don't understand this:

Quote
We currently require several share holders to verify their payout addresses. We currently have about 130 share holders and 30 without proper payout addresses listed. These users who've not yet properly confirmed their payout addresses will be contacted via a separate email and asked to sign a message with the Bitcoin client with their desired payout address.

My public address on BTCT.co was a proper address I do control. So do I have to sign a message? I didn't get any email.

Thanks

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November 18, 2013, 02:36:56 PM

Hello,

I don't understand this:

Quote
We currently require several share holders to verify their payout addresses. We currently have about 130 share holders and 30 without proper payout addresses listed. These users who've not yet properly confirmed their payout addresses will be contacted via a separate email and asked to sign a message with the Bitcoin client with their desired payout address.

My public address on BTCT.co was a proper address I do control. So do I have to sign a message? I didn't get any email.

Thanks

It means if you do not have a payout address they will send you an email to get one. If your payout address was set before BTCT shut down then you will not receive an email. So if you don't get an email it means you had things set up right.

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November 23, 2013, 02:48:53 AM

In regard to what has been going on over the past two months(Income statements included):

https://www.bitvps.com/update.txt

What is the unit used in the income report ? Bitcoins, us dollars, cheese cakes, bubble gums, or what ? Why is money being spent on server software, and what software is that ?

The income report was in USD.

Here is what was purchased over the last two months:
https://www.bitvps.com/septoctexpenses.txt

If you have any other questions please ask.  Smiley
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November 23, 2013, 10:20:16 PM

If you have any other questions please ask.  Smiley
I have one.

In August there were 16 BTC in reserve, are they still there, or did they have to be converted to USD?

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November 24, 2013, 02:56:28 AM

We did convert all reserves from August to USD to make purchases and for regular expenses.
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December 04, 2013, 03:52:23 PM

Dividends for November 2013 have been paid out. A total of 3.55 BTC was paid out amongst 1,000,000 shares.

For share holders with 25 shares or less, dividends could not be paid out because of the small transaction size. We will hold onto these dividends until they accrue and we are able to meet the minimum and send the transaction.

November statement will be ready soon.
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December 04, 2013, 08:26:43 PM

Awesome great to hear! Any chance you can post the tx id here?
 Would you say the upgrades from the past couple months have been useful in expanding the business or is it still too early to tell?

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December 06, 2013, 11:42:53 AM

Ant idea when we can have bitvps listed somewhere?
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December 06, 2013, 01:19:49 PM

Ant idea when we can have bitvps listed somewhere?
There's a new exchange about to be launched, and Deprived should be among the founders unless I'm mistaken. That would be a good choice.
Or, ASICMINER supposedly should launch some sort of colored-coin exchange, though details are vague at best, so I wouldn't hold my breath for that.

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December 06, 2013, 02:06:32 PM

Or, ASICMINER supposedly should launch some sort of colored-coin exchange, though details are vague at best, so I wouldn't hold my breath for that.

ASICMINER's exchange isn't related to colored coins, it is just an automated "direct shares" kind of thing with escrowed trading.

ActiveMining, however, stated that they want to use colored coins when it will be available.

colored coins proof-of-concept: private currencies, stock/bond p2p exchange

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December 07, 2013, 10:52:11 PM

The financial statement for the month of November has been published and is located here:
https://docs.google.com/spreadsheet/ccc?key=0An6qwdlD-DbCdHktZUgtSDRMRGhLMEdfNnZJM2h6RlE&usp=sharing

In regard to finding an exchange to be listed on we are still seeking options. We are currently trying to get in touch with Havelock again since I believe they are accepting new listings at this time.

Best,
James
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December 16, 2013, 09:08:14 PM

The financial statement for the month of November has been published and is located here:
https://docs.google.com/spreadsheet/ccc?key=0An6qwdlD-DbCdHktZUgtSDRMRGhLMEdfNnZJM2h6RlE&usp=sharing

In regard to finding an exchange to be listed on we are still seeking options. We are currently trying to get in touch with Havelock again since I believe they are accepting new listings at this time.

Best,
James

Thanks!
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January 03, 2014, 04:11:31 PM

Hey Guys,

I had given up on bitvps, until I did a search and found this thread.

Reading through the thread, it appears that shareholders with less than 25 shares have to wait till the dividends accrue to a sizable amount sufficient to justify the fees. Guess I'll have to wait.

Also, have you guys considered crypto-trade as an exchange? I own a bit of shares of that exchange. It is small but I think is a growing exchange.

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January 03, 2014, 04:23:57 PM

Hey Guys,

I had given up on bitvps, until I did a search and found this thread.

Reading through the thread, it appears that shareholders with less than 25 shares have to wait till the dividends accrue to a sizable amount sufficient to justify the fees. Guess I'll have to wait.

Also, have you guys considered crypto-trade as an exchange? I own a bit of shares of that exchange. It is small but I think is a growing exchange.

I have reccomend them to use havelock,cryptostocks and even rocktrading, arij told me that havelock was the only one he liked and he would look into it. This was about a month ago tho.
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January 03, 2014, 04:45:43 PM

Hey Guys,

I had given up on bitvps, until I did a search and found this thread.

Reading through the thread, it appears that shareholders with less than 25 shares have to wait till the dividends accrue to a sizable amount sufficient to justify the fees. Guess I'll have to wait.

Also, have you guys considered crypto-trade as an exchange? I own a bit of shares of that exchange. It is small but I think is a growing exchange.

I have reccomend them to use havelock,cryptostocks and even rocktrading, arij told me that havelock was the only one he liked and he would look into it. This was about a month ago tho.

Arij what's your opinion on colored coins and open transactions?
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January 06, 2014, 05:12:29 PM

May I inquire how the end of '13 treated BitVPS? Have you had any spare time to play around with killerstorms' ChromaWallet?

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January 07, 2014, 11:05:58 PM

Have you had any spare time to play around with killerstorms' ChromaWallet?

ChromaWallet isn't ready for a prime time yet, but in a couple of weeks it might be...

I'll be glad to help with evaluation/migration when it is ready.

colored coins proof-of-concept: private currencies, stock/bond p2p exchange

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January 08, 2014, 09:45:40 AM

Happy new year everyone
any news?
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January 09, 2014, 05:17:21 PM

what's Dec. statement?
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January 09, 2014, 05:36:06 PM

Anybody have any idea what a share of BitVPS would sell for now?

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January 16, 2014, 07:55:30 AM

any one have any news?
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January 16, 2014, 07:29:37 PM

It looks like James was on the forums today. Even a nice short update and financial summary would be nice. Perhaps BitVPS' financials would be better suited for quarterly financials?

Have there been any talks with an exchange as of late?

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January 17, 2014, 11:35:25 PM

Does anyone have a contact email address for investors to use ?

Looking at the current www.bitvps.com site, I see the Investors page has been removed.

I would like to discuss an investment issue with the BitVPS operators.
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January 17, 2014, 11:36:51 PM

I also note that the content at https://www.bitvps.com/update.txt has been removed.

Does anyone have a copy please ?
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January 18, 2014, 11:13:57 AM

Does anyone have a contact email address for investors to use ?

Looking at the current www.bitvps.com site, I see the Investors page has been removed.

I would like to discuss an investment issue with the BitVPS operators.
I only have this outdated income statement: https://docs.google.com/spreadsheet/ccc?key=0AjGS9IMt1lA6dG9jNlVuLVlkcWVzNDVYMGJva0otZEE&usp=drive_web#gid=0

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January 18, 2014, 05:44:13 PM

Hello investors,

There are a few things we would like to address:

1. This will be the official BitVPS forum account for all bitvps related business
2. For all investor related issues or concerns please email investors@bitvps.com
3. We would like to apologize for the delay in publishing the December statement. We will have it posted soon.

Best regards,

BitVPS
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January 18, 2014, 06:14:57 PM

Well thanks for stopping by, is there anyway arij could add a trust rating to your profile so investors and customers alike can confirm the authenticity of the account?

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January 18, 2014, 06:38:54 PM

Well thanks for stopping by, is there anyway arij could add a trust rating to your profile so investors and customers alike can confirm the authenticity of the account?

I can confirm that this account was created by BitVPS. I have also added the feedback.
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January 18, 2014, 07:41:33 PM

Well thanks for stopping by, is there anyway arij could add a trust rating to your profile so investors and customers alike can confirm the authenticity of the account?

I can confirm that this account was created by BitVPS. I have also added the feedback.

Awesome thanks for the quick reply, it's good to see you around these parts again!

Has business been on an upswing since the recent upgrades to servers etc.? You mentioned last month talking with Havelock since they started accepting assets again, were you ever able to make contact with them? From what i've seen and heard their fees for listing seem slightly...inflated.

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January 19, 2014, 04:15:49 PM

You mentioned last month talking with Havelock since they started accepting assets again, were you ever able to make contact with them? From what i've seen and heard their fees for listing seem slightly...inflated.
I'd rephrase it: their fee are very high, their IPO was borderline-scammy, their attitude is definitely suspect.

At first I was pushing to move there, but that was before their change of management... now I think they'd better be avoided.
I'd rather wait and see if something better and new comes this way.

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January 20, 2014, 04:28:06 AM

You mentioned last month talking with Havelock since they started accepting assets again, were you ever able to make contact with them? From what i've seen and heard their fees for listing seem slightly...inflated.
I'd rephrase it: their fee are very high, their IPO was borderline-scammy, their attitude is definitely suspect.

At first I was pushing to move there, but that was before their change of management... now I think they'd better be avoided.
I'd rather wait and see if something better and new comes this way.


It definitely would not be my first vote mainly due to many of the points you brought up. IMHO Havelock Investments certainly doesn't seem like the right fit for BitVPS, this is why I asked about ChromaWallet (colored coins) a few days ago.

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January 30, 2014, 06:13:30 PM

Happy spring festival!
we still cant see Dec. statement,where can we see it?
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January 30, 2014, 11:20:27 PM

Happy spring festival!
we still cant see Dec. statement,where can we see it?

Perhaps roll January's alongside December's statement considering the date?

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February 01, 2014, 07:37:37 PM

It's already FEB.where can we see DEC. share?
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February 11, 2014, 12:21:03 PM

Hello everybody,

I'd like to apologize for the delay in the December statement. The link is below.

https://bitvps.com/Investors/

Thanks,
BitVPS
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February 11, 2014, 02:43:53 PM

Hello everybody,

I'd like to apologize for the delay in the December statement. The link is below.

https://bitvps.com/Investors/December2013.htm

Thanks,
BitVPS

I tried the link, but I am getting a 404 not found error.

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February 11, 2014, 05:25:19 PM

Hello everybody,

I'd like to apologize for the delay in the December statement. The link is below.

https://bitvps.com/Investors/December2013.htm

Thanks,
BitVPS

I tried the link, but I am getting a 404 not found error.

https://bitvps.com/Investors/ this will work for you
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February 11, 2014, 06:25:03 PM

At first I was like web design?  Huh

Then I was like web design!  Shocked

Thanks for getting this out to us, did January see an increase in income as well?

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February 11, 2014, 10:26:53 PM

Hello everybody,

I'd like to apologize for the delay in the December statement. The link is below.

https://bitvps.com/Investors/December2013.htm

Thanks,
BitVPS

I tried the link, but I am getting a 404 not found error.

https://bitvps.com/Investors/ this will work for you

Yes this is the correct link. I apologize for posting the wrong one.
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February 12, 2014, 02:27:51 PM

Hello everybody,

I'd like to apologize for the delay in the December statement. The link is below.

https://bitvps.com/Investors/December2013.htm

Thanks,
BitVPS

I tried the link, but I am getting a 404 not found error.

https://bitvps.com/Investors/ this will work for you
It doesn't scroll down for me (Chrome@OSX), even after clicking in the spreadsheet.

https://www.dropbox.com/s/7yjzt6mf58qvmn1/Screenshot%202014-02-12%2015.27.06.png

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February 12, 2014, 03:57:17 PM

Hello everybody,

I'd like to apologize for the delay in the December statement. The link is below.

https://bitvps.com/Investors/December2013.htm

Thanks,
BitVPS

I tried the link, but I am getting a 404 not found error.

https://bitvps.com/Investors/ this will work for you
It doesn't scroll down for me (Chrome@OSX), even after clicking in the spreadsheet.

https://www.dropbox.com/s/7yjzt6mf58qvmn1/Screenshot%202014-02-12%2015.27.06.png

Try using arrow key, worked for me
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February 13, 2014, 10:25:13 AM

Try using arrow key, worked for me
Didn't for me :/

Could someone copy-paste it to a real document?

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February 13, 2014, 09:26:39 PM

I believe this is what you're looking for.

https://bitvps.com/Investors/dec2013.html

Let me know if it works, if not I'll go ahead and figure something else out.

BitVPS, can you give us some more information on how business is doing, future plans/hold-ups/dividends? Numbers for January? It seems like you are putting alot of effort into making BitVPS successful, would you mind sharing some feedback with us when time allows?

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March 07, 2014, 12:41:36 AM

Any updates?

Any word on listing on an exchange?


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March 11, 2014, 05:16:19 AM

updates? any news?
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March 11, 2014, 04:31:48 PM

Jan.and Feb. statements?
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March 11, 2014, 04:41:04 PM

Who do we contact to transfer shares in the case of a sale?

Edit: Has anybody sold any of the shares since BTCT went down? I am thinking of selling mine off, and I am not sure what to use as a starting price, 0.0001?

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March 11, 2014, 04:43:06 PM

Curious as well so friendly post been a while since I checked this asset out
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March 21, 2014, 01:38:17 AM

Hello everyone,

We would like to apologize for the lack of communication that we have maintained with our investors over the last few weeks. There have been some big developments going on internally. We will email all investors before the end of March with some big news relating to shares and the future of BitVPS.

Sincerely,
BitVPS
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March 21, 2014, 03:54:04 AM

Hello everyone,

We would like to apologize for the lack of communication that we have maintained with our investors over the last few weeks. There have been some big developments going on internally. We will email all investors before the end of March with some big news relating to shares and the future of BitVPS.

Sincerely,
BitVPS

Well now you got me hooked. Interested to see the update.

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March 21, 2014, 06:47:07 AM

Hello everyone,

We would like to apologize for the lack of communication that we have maintained with our investors over the last few weeks. There have been some big developments going on internally. We will email all investors before the end of March with some big news relating to shares and the future of BitVPS.

Sincerely,
BitVPS
Interesting that there is big development going on, but how will you be able to email all investors if you for some investors only have there public BTC-TC bitcoinadress and no emailadress to go with it or did all investors pm/email Nameworld there emailadress when BTC-TC winded down ?

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March 21, 2014, 12:29:03 PM

Hello everyone,

We would like to apologize for the lack of communication that we have maintained with our investors over the last few weeks. There have been some big developments going on internally. We will email all investors before the end of March with some big news relating to shares and the future of BitVPS.

Sincerely,
BitVPS
I appreciate the apology.

Still a bit concerned, since it's easy to assume those "big news" to be also "good news", but I do not take it for granted...

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March 30, 2014, 08:42:00 AM

any one received emails?
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March 30, 2014, 09:55:00 AM

any one received emails?
I didn't.

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March 31, 2014, 04:14:39 AM

Checking in to say nothing was received in my inbox. Figured another work week's worth of patience may be due.

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April 01, 2014, 06:50:06 AM

was it March 2014 or March 2015?

██████████████████████████████████████████████████
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Peter Lambert
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April 09, 2014, 04:40:50 PM

I was seeking some sort of update, got a hold of arij on IRC:

Quote
[12:36] <arij> there was an update which was going to be posted on the 1st, we felt it wasnt ready yet. it has been prepared and is ready now
[12:37] <arij> it is going to be sent out to all investors via email, and we will host a copy of it on our web server

[12:41] <pLambert> is it good news or bad news?
[12:43] <arij> i cannot comment on that

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April 10, 2014, 05:29:42 AM

Quote from: the email
To whom it may concern,

     There have been many developments and changes in Bitcoin securities
sector. We have seen the closure of several Bitcoin Exchanges; from both
securities and FX platforms. This has given BitVPS reason to think about
how we proceed as a publicly listed company. After review with our
general counsel we have decided that the only viable method as a company
is to perform a share buy-back.
     Our goal is to make this process as simple and straight-forward as
possible ensuring you receive your money in an organized and timely
manner. This process will be supervised by the BitVPS management,
general counsel and administrative staff.
We’re offering a rate for buy back that was calculated from the average
of the last two months of BitVPS’ dividends paid, multiplied by 12
months and divided by one (1) million and rounded up to the nearest
three (3) decimal places.We have provided the calculations to obtain the
buy back rate and it is available at the end of this document.
To this end we plan to carry out the buy back in a timed fashion. This
means we will place a constraint on eligibility of inclusion. For
clarification purposes this has been set at five (5) business days from
the public release of this letter. If, after five (5) business days, we
have received no response your shares will enter forfeiture and be
returned to BitVPS.

We have placed this constraint to ensure we are not relying on
individuals to respond. This will ensure the deal can be completed
quickly whilst allowing people adequate time for consultation.

     To sufficiently prove ownership of the associated shares & email
address we will require you to respond from the associated email and
also provide a signed message with the address receiving dividends from
BitVPS.

     This may seem long winded but we are in no position to confirm
details based on information obtained from the previous Exchange
entities - working from a provided list is a difficult situation and one
we must handle appropriately. This method will offer us a level of
confidence we are dealing with the correct investor.

For interested parties, we’re also prepared to offer service credit for
BitVPS services at a rate of $0.035. Services with custom or promotional
prices are still eligible for this plan but they will be billed at the
standard price.

     To provide the correct information please ensure the following
details are provided upon your reply:

Associated Bitcoin address
Signed message “BitVPS Investor” should be provided with the
aforementioned address.
Confirm if the BitVPS investor email address is the address for which
you would like to continue to receive share buy back information from
BitVPS.
Payments will begin on April 14th 2014 and will be paid ONLY to the
signed, verified and previously provided Bitcoin address; there will be
no exceptions given for this.

Example of successful notification for repayment

1. Shareholder confirms the following:
a. That they’ve been receiving dividend payouts
b. Bitcoin address used for payouts
c. signature with associated Bitcoin address
d. E-mail address associated with the provided Bitcoin address
2. Shareholder is paid $0.025 USD for each share of BitVPS in their
possession via Bitcoin. To further provide an offer of a fair rate of
exchange we will use coinbase.com 24 hour average at the time of
payback.

Buy Back Calculations

To ensure this was calculated fairly we used a formula based on profit &
loss over the last 2 months. This ensured an average of recent turnover
to obtain a suitable price. Once this was obtained we performed an
upward rounding to the nearest three (3) decimal places.

     To this end we have calculated the price to be $0.025/share. This
was derived from taking the average of the final dividends paid for the
last 2 public statements of BitVPS, and multiplying it by 12, for 12
months. Then finally dividing it by one (1) million for the shares and
rounding to the nearest third (3) decimal place.

We’d like to express our sincere gratitude to all shareholders who’ve
been with us since the beginning. BitVPS could not have grown to the
multi-faceted hosting solutions provider it’s become without all of you.

     If you have any questions or issues, please do not hesitate to
contact us as soon as possible.

Regards,
The BitVPS Team

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April 10, 2014, 06:59:30 AM

I invested 700 dollars, and you think I can be content with your forced 20 dollars buy-back?
I would have been less offended if you had just said "Fuck you, I'm keeping your money."

You can keep your 20 dollars but I want you to remember every day that you screwed many investors who trusted in you.

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April 10, 2014, 08:18:59 AM

Can I buy the whole thing for 2x that much ?
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April 10, 2014, 01:26:13 PM

Calculating purely from the dividends is bullshit. They were not paying out all profit as dividends, they were re-investing to grow the business. The buyout should be calculated from the assets the company has, plus the estimated upcoming dividends.

PS: Make sure you check your spam folder if you don't see the email in your inbox.

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April 10, 2014, 11:21:29 PM

Quote from: the email
To whom it may concern,

After review with our general counsel we have decided that the only viable method as a company
is to perform a share buy-back.
What did the contract with BitVPS shareholder say about buyback, was it mentioned in it and how should the price be calculated.

Quote from: the email
To this end we plan to carry out the buy back in a timed fashion. This
means we will place a constraint on eligibility of inclusion. For
clarification purposes this has been set at five (5) business days from
the public release of this letter. If, after five (5) business days, we
have received no response your shares will enter forfeiture and be
returned to BitVPS.
This cannot however you look at it be legal, to steal shares from those that check there mail less than once a week.
How do you define business days by the way, mo-fr 5 days a week as business days or all 7 days in a week as business day ?
How is the public release date/time defined was/is it the day/time you posted it somewhere, on your homepage maby or will you post it here on bitcointalk, i dont see in that the mail that you send out that it was dated with day and time.
So what time & day was/is the release time and what time and day is the latest you want shareholders to answer if they accept your offer ?

Quote from: the email
To sufficiently prove ownership of the associated shares & email
address we will require you to respond from the associated email and
also provide a signed message with the address receiving dividends from
BitVPS.

Have bitVPS been paying out dividend after BTCTs closure ?
Witch address did you pay to and what amount per share and what date & time was these payouts made for the months that has been after the closure so people know what address you want them to sign messages from, is it the public address most people entered at btct ?

Quote from: the email
Signed message "BitVPS Investor" should be provided with the
aforementioned address.
Is that(BitVPS Investor) the exact text that should be in the the signed message ?

Quote from: the email
Example of successful notification for repayment

1. Shareholder confirms the following:
a. That they’ve been receiving dividend payouts
b. Bitcoin address used for payouts
c. signature with associated Bitcoin address
d. E-mail address associated with the provided Bitcoin address
2. Shareholder is paid $0.025 USD for each share of BitVPS in their
possession via Bitcoin. To further provide an offer of a fair rate of
exchange we will use coinbase.com 24 hour average at the time of
payback.
1 a You need to inform shareholders when and how much per share that was payed out as dividend after btct's closure so they can see if you have been paying out the dividend and if the correct amount has been payed out as it can be hard to see what payouts have come from btvps when some people might have had shares in a lot of company's that has been paying out dividend after the closure.

Quote from: the email
Buy Back Calculations

To ensure this was calculated fairly we used a formula based on profit &
loss over the last 2 months. This ensured an average of recent turnover
to obtain a suitable price. Once this was obtained we performed an
upward rounding to the nearest three (3) decimal places.

     To this end we have calculated the price to be $0.025/share. This
was derived from taking the average of the final dividends paid for the
last 2 public statements of BitVPS
, and multiplying it by 12, for 12
months. Then finally dividing it by one (1) million for the shares and
rounding to the nearest third (3) decimal place.

     If you have any questions or issues, please do not hesitate to
contact us as soon as possible.
Who came to the conclusion that the last 2 public statements dividend should be the base for the buyback price, where is those statements published and for what months are they and how has the statements that you haven't published after those looked like and how is the future profit for the company expected to look like, are the last 2 monthly statements representative to BitVPS past and future expected profits.
Is BitVPS only expected to earn 12 times the avg monthly profit of those 2 months for the entire future ?
Is it regulated in the contract with the shareholders that only 12 times the monthly profit for an arbitrary chosen period should be used for calculating the base for buyout price, that sounds very strange then ?
Can you please publish all months statements from the time bitVPS started selling shares to the public up until the last one for mars 2014 so people can have a closer look at how the offer is related to past performance.

0.025usd per share sounds extremely low compared to what the share was traded at, a more reasonable buyback price would be something like the estimated profit per share for the next 10 years or something.
What was the avg sellprice of the BitVPS stock in BTC and USD when they were issued ?

Hello everyone,

We would like to apologize for the lack of communication that we have maintained with our investors over the last few weeks. There have been some big developments going on internally. We will email all investors before the end of March with some big news relating to shares and the future of BitVPS.

Sincerely,
BitVPS
It looks like you forgot to tell shareholders what the big development that has been going on internally was, did you strike a great deal with some big company or something ?

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April 11, 2014, 03:11:56 AM

Completely unacceptable.
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April 11, 2014, 07:12:31 AM

nice SCAM

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██████████████████████████████████████████████████
Pool of Stake









ICO Starts
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April 11, 2014, 09:46:53 AM

Thy my offer is serious, what stops you to actually auction your business for 10x+ more rather than scam everyone and face some sort of investigation?
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April 11, 2014, 10:28:33 AM

Quote
    To this end we have calculated the price to be $0.025/share. This
was derived from taking the average of the final dividends paid for the
last 2 public statements of BitVPS, and multiplying it by 12, for 12
months. Then finally dividing it by one (1) million for the shares and
rounding to the nearest third (3) decimal place.

So they are buying the whole thing back for just $2500?! This implies that average monthly dividend is just $208.

Quote
We’d like to express our sincere gratitude to all shareholders who’ve
been with us since the beginning. BitVPS could not have grown to the
multi-faceted hosting solutions provider it’s become without all of you.

Well, according to your logic, this "multi-faceted hosting solutions provider" is worth only $2500, so it looks like it haven't grown much, you don't need to thank us.

I bet domain name alone is worth way more than $2500.

I would like to correct your calculation, it is actually $25,000 paid total for the company. This is 0.025cents multiplied by 1 million

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April 11, 2014, 11:38:59 AM

Thy my offer is serious, what stops you to actually auction your business for 10x+ more rather than scam everyone and face some sort of investigation?
I only have a small amount of shares, my concern is more about what others may loose here that invested in this stock if things isen't handled correct.
The second part of your sentence must be aimed to BitVPS/Nameworld.

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April 11, 2014, 12:21:18 PM

Good links there with the buyback clause from the listing on Mpex:

"2.2. The Terms of the IPO.

(a) The Directors have elected to divide BitVPS into 1`000`000 (one million) equal non-voting shares with a total equity value of 1`200 BTC (0.0012 BTC each). In the event of liquidation or breach of this Agreement they solemnly promise and warrant to repay all investors holding shares at this minimum value. The Directors through their elected representative solemnly promise and warrant never to issue more shares either on MPEX or any other venue nor in any way to dillute existing shareholders at any point in the future ;"

So it looks like 0.0012 BTC per share is the minimum BitVPS has to offer per share if they like to buy them back.

and the price structure for the first 150 000 shares looks like it was:
 
"(b) Based on the Statements of Profit and Loss published as per 2.1.b above, as well as on evaluation of market demand, future profitability and projected evolution, the Directors have elected to offer in this IPO a total of 150`000 (one hundred thousand) shares, as follows : one block of 30`000 (thirty thousand) shares at a price of 0.0022 BTC each ; one block of 75`000 (seventy-five thousand) shares at a price of 0.0024 BTC each ; one block of 45`000 (fourty-five thousand) shares at a price of 0.0026 BTC each.
(c) The Directors warrant that no further shares will be offered by them for a period of 30 days from the date these offered shares are sold. The Directors further warrant that they will never sell more than half the total shares."

If one assumes that the first 150 000 shares were sold out at there stated price then they raised 30 000 * 0.0022 + 75 000 * 0.0024 + 45 000 * 0.0026 = 66+ 180+117 = 363 BTC there and possibly 700+ btc more if the rest of the shares up to 419 306 that have been sold (accourding to outstanding shares on the link to the btct page) were at 0.0026 or higher price.

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April 11, 2014, 03:38:51 PM

Good links there with the buyback clause from the listing on Mpex:

"2.2. The Terms of the IPO.

(a) The Directors have elected to divide BitVPS into 1`000`000 (one million) equal non-voting shares with a total equity value of 1`200 BTC (0.0012 BTC each). In the event of liquidation or breach of this Agreement they solemnly promise and warrant to repay all investors holding shares at this minimum value. The Directors through their elected representative solemnly promise and warrant never to issue more shares either on MPEX or any other venue nor in any way to dillute existing shareholders at any point in the future ;"

So it looks like 0.0012 BTC per share is the minimum BitVPS has to offer per share if they like to buy them back.

and the price structure for the first 150 000 shares looks like it was:
 
"(b) Based on the Statements of Profit and Loss published as per 2.1.b above, as well as on evaluation of market demand, future profitability and projected evolution, the Directors have elected to offer in this IPO a total of 150`000 (one hundred thousand) shares, as follows : one block of 30`000 (thirty thousand) shares at a price of 0.0022 BTC each ; one block of 75`000 (seventy-five thousand) shares at a price of 0.0024 BTC each ; one block of 45`000 (fourty-five thousand) shares at a price of 0.0026 BTC each.
(c) The Directors warrant that no further shares will be offered by them for a period of 30 days from the date these offered shares are sold. The Directors further warrant that they will never sell more than half the total shares."

If one assumes that the first 150 000 shares were sold out at there stated price then they raised 30 000 * 0.0022 + 75 000 * 0.0024 + 45 000 * 0.0026 = 66+ 180+117 = 363 BTC there and possibly 700+ btc more if the rest of the shares up to 419 306 that have been sold (accourding to outstanding shares on the link to the btct page) were at 0.0026 or higher price.

According to RG's original contract, at the time of sale, he was supposed to share the proceeds with the investors. We purchased the entirety of BitVPS for 100 BTC. This included simply a domain name, a handful of customers, and rental contracts for servers which were a huge burden as the company was not profitable at the time (BitVPS owned no assets at this time). RG failed to share the BTC he acquired from us, with the investors. At this point we had no obligation to continue supporting the investors.

On top of this, RG was in breach of his own contract for various reasons. BitVPS was de-listed from MPEX as a result. It is outlined in his contract what should be done, by him, in the case of his contract being breached.

We decided to keep paying out dividends while neglecting the fact that we had no real obligation to do so. We are trying to close this chapter in BitVPS's life in a way where we wont go bankrupt. I understand while this may not seem ideal for all, it is what BitVPS can realistically afford while basing the buyout on numbers from our recent financial statements.

We currently have ~$4,500 in the bank. Most of the money for the buyout was going to come straight out of my pocket. BitVPS is already in debt to me for over $8,000 which I decided to just forget about and start with a clean slate. As mentioned earlier there were two options we felt we had. One being this buyout, and the second option being to declare bankruptcy. As much as we wish we could pay 0.0012 BTC per share, it is literally not possible. This amount, unfortunately, would put us directly into bankruptcy. I shouldn't need to explain where bankruptcy would lead us.

To answer some of the other questions:
-0.025 * 1,000,000 = 25,000 (not 2,500!)
-We will grant a three day grace period (on top of the original 5 business days) to claim your shares. Final day for claiming your shares will be 4/18/2014 (typo, edited the date). We will process claims made after this date only under certain circumstances.
-If you need to find out the BTC address associated with your account just send us an email. As long as you email us within the 5 (8 days including grace period) day time frame, you will not be disqualified.

I hope this answers some of your questions. If you have any further questions (and comments or suggestions) please ask. You will get a much faster response if you are able to msg me on freenode (nick: arij).
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April 11, 2014, 05:14:47 PM

According to RG's original contract, at the time of sale, he was supposed to share the proceeds with the investors. We purchased the entirety of BitVPS for 100 BTC. This included simply a domain name, a handful of customers, and rental contracts for servers which were a huge burden as the company was not profitable at the time (BitVPS owned no assets at this time). RG failed to share the BTC he acquired from us, with the investors. At this point we had no obligation to continue supporting the investors.

On top of this, RG was in breach of his own contract for various reasons. BitVPS was de-listed from MPEX as a result. It is outlined in his contract what should be done, by him, in the case of his contract being breached.

We decided to keep paying out dividends while neglecting the fact that we had no real obligation to do so. We are trying to close this chapter in BitVPS's life in a way where we wont go bankrupt. I understand while this may not seem ideal for all, it is what BitVPS can realistically afford while basing the buyout on numbers from our recent financial statements.

We currently have ~$4,500 in the bank. Most of the money for the buyout was going to come straight out of my pocket. BitVPS is already in debt to me for over $8,000 which I decided to just forget about and start with a clean slate. As mentioned earlier there were two options we felt we had. One being this buyout, and the second option being to declare bankruptcy. As much as we wish we could pay 0.0012 BTC per share, it is literally not possible. This amount, unfortunately, would put us directly into bankruptcy. I shouldn't need to explain where bankruptcy would lead us.

To answer some of the other questions:
-0.025 * 1,000,000 = 25,000 (not 2,500!)
-We will grant a three day grace period (on top of the original 5 business days) to claim your shares. Final day for claiming your shares will be 4/18/2014 (typo, edited the date). We will process claims made after this date only under certain circumstances.
-If you need to find out the BTC address associated with your account just send us an email. As long as you email us within the 5 (8 days including grace period) day time frame, you will not be disqualified.

I hope this answers some of your questions. If you have any further questions (and comments or suggestions) please ask. You will get a much faster response if you are able to msg me on freenode (nick: arij).

Okey thanks for explaining things, basically you bought part of the old company but not it's liability then and most of the problems for BitVPS seems to have happened before you bought it and the fact that btcprice went up a lot the last year probably hasn't made the numbers in btc look any better for the company i guess. The current situation in USA according to how they interpret stocks and similar things not denominated in usd probably haven't made things better either.

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April 11, 2014, 11:58:16 PM

Why are we learning this essential information just now?!

Or did I miss some announcement?

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April 12, 2014, 12:40:24 PM

If you are bankrupt, you have to declare bankruptcy... that's why there are laws regulating bankruptcy...

Quote from: the email
To whom it may concern,
[...]

Thank you for posting that, mine was in my spam folder...

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April 12, 2014, 12:42:26 PM

Instead of basing the repayment on the result of november and december, you should publish results from January, February and March and base the repayment on the total profit, not just the dividend, since some of the profit was reinvested back into the company.

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April 12, 2014, 01:47:54 PM

Instead of basing the repayment on the result of november and december, you should publish results from January, February and March and base the repayment on the total profit, not just the dividend, since some of the profit was reinvested back into the company.
- OR - just don't buy back since it's violating the contract.

You can't expect to say "your money was useful, now fuck off and die" and walk away clean...

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April 12, 2014, 01:49:20 PM

Okey thanks for explaining things, basically you bought part of the old company but not it's liability then and most of the problems for BitVPS seems to have happened before you bought it and the fact that btcprice went up a lot the last year probably hasn't made the numbers in btc look any better for the company i guess. The current situation in USA according to how they interpret stocks and similar things not denominated in usd probably haven't made things better either.
1. if you buy a company you buy the whole package, including the obligations and liabilities
2. if you allow trading after you buy it, you can't "just stop it" later, unless the contract allows you to do so

They are trying to scam us plain and simple.

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April 12, 2014, 03:37:51 PM

If you are bankrupt, you have to declare bankruptcy... that's why there are laws regulating bankruptcy...

Quote from: the email
To whom it may concern,
[...]

Thank you for posting that, mine was in my spam folder...


Being in debt does not equal going bankrupt. We are able to pay the debts which we currently hold.
Now on the other hand, basing the buy back price off of a invalidated contract would put BitVPS into such a large amount of debt that we would not be able to pay employees, operations would seize, and we would be forced into bankruptcy.

- OR - just don't buy back since it's violating the contract.

You can't expect to say "your money was useful, now fuck off and die" and walk away clean...

The "contract" (rg's contract) was breached by himself.
A quote from the "contract":
(g) In the event of the sale of BitVPS or voluntary liquidation thereof, all proceeds will be distributed fairly to all shareholders by proportion to the shares they hold. -- This was a requirement, as outlined by the previous directors of BitVPS, in the event of the sale of BitVPS. This clearly failed to happen.

We paid, in Bitcoin (100BTC), for BitVPS. Yes, we should have came forward with this earlier, but it is what it is. We are good people and certainly not out to scam anyone.
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April 12, 2014, 04:56:26 PM

... We purchased the entirety of BitVPS for 100 BTC...

Odd question:  How did you buy the entirety of BitVPS without buying the shares which represent it?
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April 12, 2014, 04:58:55 PM

... We purchased the entirety of BitVPS for 100 BTC...

Odd question:  How did you buy the entirety of BitVPS without buying the shares which represent it?

Maybe that was just badly worded. If you read RG's contract you can clearly see that the investor/shareholder side of the business was to end with the sale.
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April 12, 2014, 05:05:34 PM

... We purchased the entirety of BitVPS for 100 BTC...

Odd question:  How did you buy the entirety of BitVPS without buying the shares which represent it?

Maybe that was just badly worded. If you read RG's contract you can clearly see that the investor/shareholder side of the business was to end with the sale.

Not sure how else to put it, but you bought something from rg which he did not fully own.  Such sales are invalid.  If I buy a stolen car, even in good faith, I'll have a hard time registering it.
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April 12, 2014, 06:26:11 PM

... We purchased the entirety of BitVPS for 100 BTC...

Odd question:  How did you buy the entirety of BitVPS without buying the shares which represent it?

Maybe that was just badly worded. If you read RG's contract you can clearly see that the investor/shareholder side of the business was to end with the sale.

Not sure how else to put it, but you bought something from rg which he did not fully own.  Such sales are invalid.  If I buy a stolen car, even in good faith, I'll have a hard time registering it.

The sale is perfectly legal. The example you gave is incorrect as the original rg contract didn't entitle you to any hardware only net profits. A better example of this would be if one guy bought a 1 terahash miner as a preorder. He later decides to sell all of the hashrate. He sells 1 terahash total, 100ghash to 10 people. The 10 people agree that they get 100ghash and if the unit is sold they will split the sale of the unit evenly among them. The original buyer agrees and hosts it for a for months. He later decides to sell the unit. He sells the unit to bob. He keeps all the money from the sale and the 10 people who bought 100ghash are angry. Now does bob have a obligation to continue to host those 10 people even tho he never agreed to it?In this example RG is the person who bought the unit and didnt share the money gained from the sale with the 10 people.
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April 12, 2014, 07:06:54 PM

No.  Excerpt from the IPO prospectus:

...
 The Terms of the IPO.

(a) The Directors have elected to divide BitVPS into 1`000`000 (one million) equal non-voting shares with a total equity value of 1`200 BTC (0.0012 BTC each). ...

Shares represent equity, ownership interest, not "share of the profit." 
That said, you are correct in assuming that I'm owed nothing -- I'm not a BitVPS shareholder.
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April 12, 2014, 09:28:59 PM

... We purchased the entirety of BitVPS for 100 BTC...

Odd question:  How did you buy the entirety of BitVPS without buying the shares which represent it?

Maybe that was just badly worded. If you read RG's contract you can clearly see that the investor/shareholder side of the business was to end with the sale.

Not sure how else to put it, but you bought something from rg which he did not fully own.  Such sales are invalid.  If I buy a stolen car, even in good faith, I'll have a hard time registering it.

This does not change anything for us. It was his duty and obligation to share the proceeds with his investors.
Once again, he failed to do so. If you look back you will see many instances where his original contract was in fact breached by him.

1) Failure to publish monthly statements by the 5th of each month -
(e) The Directors solemnly promise and warrant that complete and accurate Statements of Profit and Loss for each calendar month will be published by them no later than by the fifth day of the new month. Under exceptional circumstances and for good cause the publishing of the Statements of Profit and Loss can be deferred no more than once in a calendar year so that the Statement of Profit and Loss of one month is published together with the Statement of Profit and Loss of the next month.

2) Failure to share proceeds with investors -
(g) In the event of the sale of BitVPS or voluntary liquidation thereof, all proceeds will be distributed fairly to all shareholders by proportion to the shares they hold.

3) Failure to use IPO funds to expand business -
(d) The Directors solemnly promise and warrant that all proceeds from this IPO will be used to develop and expand BitVPS and will not be taken out of the company by them. The Directors further solemnly promise and warrant that they will not introduce their own expenses into the expenses of BitVPS, and that all money taken out of BitVPS by them will be in the form of dividends, paid fairly to all shareholders by proportion to the shares they hold.

Finally, I would like to add this:
3.2. Should BitVPS fail to execute this Agreement, as for instance by but not limited to breaching 2.2.e above, MPEX will notify the named individuals of their breach and may, at its sole discretion, suspend BitVPS from trading thus activating the liquidation of BitVPS.

And what should have happened in the case of this contract being breached:
(a) The Directors have elected to divide BitVPS into 1`000`000 (one million) equal non-voting shares with a total equity value of 1`200 BTC (0.0012 BTC each). In the event of liquidation or breach of this Agreement they solemnly promise and warrant to repay all investors holding shares at this minimum value. The Directors through their elected representative solemnly promise and warrant never to issue more shares either on MPEX or any other venue nor in any way to dillute existing shareholders at any point in the future ;

Putting all of this aside, we have stuck with you guys for a while. At this point the need to pay employees a realistic salary is greatly outweighing any of our other needs. Out of respect and sincerity we have decided to take on the responsibility to pay for these shares when we have no obligation to do so.

If you want to track down the previous managers to get your slice of the sale proceeds go ahead. It is your right.
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April 12, 2014, 10:34:23 PM

...
This does not change anything for us. It was his duty and obligation to share the proceeds with his investors.
Once again, he failed to do so. If you look back you will see many instances where his original contract was in fact breached by him.
[stuff rg did wrong]

I'm not arguing that rg didn't fail in his obligations to his shareholders.  He did.
What you are failing to acknowledge is he had no right to sell you BitVPS, BitVPS was co-owned by the shareholders.  It simply was not his to sell unless he did a full buyback, which was not the case.  As I pointed out above,
Quote
The Terms of the IPO.

(a) The Directors have elected to divide BitVPS into 1`000`000 (one million) equal non-voting shares with a total equity value of 1`200 BTC (0.0012 BTC each). ...

These shares explicitly represent BitVPS, not "profits of BitVPS" as your colleague suggested.  To acquire BitVPS you had to acquire those shares.  As I understand it, you did not.

*I'm not accusing you of any intentional wrongdoing.  If you didn't realize that rg defrauded his investors, he also defrauded you by selling you something he had no right to sell.  If, OTOH, you went into this deal knowing that shareholders were defrauded, you are complicit in rg's wrongdoing.
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April 12, 2014, 11:16:36 PM

...
This does not change anything for us. It was his duty and obligation to share the proceeds with his investors.
Once again, he failed to do so. If you look back you will see many instances where his original contract was in fact breached by him.
[stuff rg did wrong]

I'm not arguing that rg didn't fail in his obligations to his shareholders.  He did.
What you are failing to acknowledge is he had no right to sell you BitVPS, BitVPS was co-owned by the shareholders.  It simply was not his to sell unless he did a full buyback, which was not the case.  As I pointed out above,
Quote
The Terms of the IPO.

(a) The Directors have elected to divide BitVPS into 1`000`000 (one million) equal non-voting shares with a total equity value of 1`200 BTC (0.0012 BTC each). ...

These shares explicitly represent BitVPS, not "profits of BitVPS" as your colleague suggested.  To acquire BitVPS you had to acquire those shares.  As I understand it, you did not.

*I'm not accusing you of any intentional wrongdoing.  If you didn't realize that rg defrauded his investors, he also defrauded you by selling you something he had no right to sell.  If, OTOH, you went into this deal knowing that shareholders were defrauded, you are complicit in rg's wrongdoing.

RG was well within his rights to sell BitVPS. As non-voting shares, these shares have no rights to any decisions which are made within the company. These rights were reserved explicitly for the managers or directors of the company, in this case RG. RG was the only member who had the right to make the final decision regardless what any of his shareholders wanted.

Every shareholder here invested into the companies profitability at the expense of any and all voting rights. This is a profit share of BitVPS and nothing else.
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April 12, 2014, 11:43:40 PM

...Every shareholder here invested into the companies profitability at the expense of any and all voting rights. This is a profit share of BitVPS and nothing else.

In other words, you went into this sale knowing the shareholders were defrauded?  And now you chose to argue that the shares, by virtue of being non-voting stock, could be simply annulled?  Am I understanding you correctly?
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April 13, 2014, 12:37:03 AM

...Every shareholder here invested into the companies profitability at the expense of any and all voting rights. This is a profit share of BitVPS and nothing else.

In other words, you went into this sale knowing the shareholders were defrauded?  And now you chose to argue that the shares, by virtue of being non-voting stock, could be simply annulled?  Am I understanding you correctly?

We did not purchase knowing that the shareholders were "defrauded" or that the contract had been breached. We came to this realization a while after the purchase was made. Once we finally were able to get a true understanding of how bitvps was operating, looking through past financial statements, and seeking legal advice it was determined that the original contract set forth by rg had been breached long ago.
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April 13, 2014, 02:14:14 AM

RG was well within his rights to sell BitVPS. As non-voting shares, these shares have no rights to any decisions which are made within the company. These rights were reserved explicitly for the managers or directors of the company, in this case RG. RG was the only member who had the right to make the final decision regardless what any of his shareholders wanted.

Every shareholder here invested into the companies profitability at the expense of any and all voting rights. This is a profit share of BitVPS and nothing else.

I suspect that @arij does not understand the distinction between "non-voting share" and "profit-only share".   Or perhaps I do not understand it.  AFAIK the owner of a non-voting share is still the owner of a slice of the company, not just of its profits.  Am I wrong?

However, since these bitcoin companies are intentionally created and operated outside any legal framework, perhaps any word intheir contracts and prospectuses means anything that anyone likes it to mean...  Sad

Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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April 13, 2014, 06:21:01 AM

...Every shareholder here invested into the companies profitability at the expense of any and all voting rights. This is a profit share of BitVPS and nothing else.

In other words, you went into this sale knowing the shareholders were defrauded?  And now you chose to argue that the shares, by virtue of being non-voting stock, could be simply annulled?  Am I understanding you correctly?

We did not purchase knowing that the shareholders were "defrauded" or that the contract had been breached. We came to this realization a while after the purchase was made. Once we finally were able to get a true understanding of how bitvps was operating, looking through past financial statements, and seeking legal advice it was determined that the original contract set forth by rg had been breached long ago.

In that case, you were also victimized by rg, and whatever contract you negotiated with him is meaningless.  I get the "Wild West Cowboy" approach to business here, but horse thieves were shot then, and so were the guys who knowingly bought those stolen horses.
And now you know.
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April 13, 2014, 08:00:40 AM

The December 213 statement posted here earlier only lists income and expenses. What about the assets and debts?  Didn't the company own some bitcoins?

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April 13, 2014, 03:33:47 PM

The December 213 statement posted here earlier only lists income and expenses. What about the assets and debts?  Didn't the company own some bitcoins?

Any assets purchased would be listed under expenses. We did not list the debt.

BitVPS does not hold any Bitcoin as all of our expenses are in USD.
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April 13, 2014, 04:48:08 PM

Any assets purchased would be listed under expenses. We did not list the debt.
BitVPS does not hold any Bitcoin as all of our expenses are in USD.
"Assets" are company property, money in the bank, money owed to the company. All that the company has now, not just what come in and went out last month.  Assets and debts are essential to figure out how much the company (and its shares) are worth.

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April 14, 2014, 12:05:49 AM

The December 213 statement posted here earlier only lists income and expenses. What about the assets and debts? 

Any assets purchased would be listed under expenses.
The difference between assets and expenses: if you had two cars, bought two more for 25'000$ each, one is stolen, and you find that the the three remaining cars are worth 10'000$ each in the market,  your expenses are "50'000$ to buy two cars" but you assets are "three cars worth 30'000$".

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April 14, 2014, 06:33:47 PM

Wait, wait, I'm more than a little confused here.

So we're being told we're getting 0.025 USD per share? As in, two and a half cents?
Not 0.025 BTC per share?

Either I'm reading this incorrectly, or something very wrong is going on here.

At 0.025 USD per share, someone with 10,000 shares--one percent of the company--will walk with 250 USD.
That's a lot less than a single bitcoin is worth now.
So we're to accept that we're basically being stiffed and given pocket change?

I've got to be reading this wrong, because I have about 2,000 shares in the company and spent quite a few on BTCT to get them.
If my count is right, actually, my initial investment runs in the several thousand dollar range now.

What's going on here?
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April 15, 2014, 12:18:15 AM

What's going on here?

I think I can summarize as follows.

arij bought the whole operation from RG, and was informed, after buying, of some essential information, which indicates that the business comes with more liability than profitability. So basically, RG screwed arij. If arij was a reasonable person, he would go to the law to have RG pay for his actions.

However, arij decided not to, for some reason I don't understand. Then he thought that he could ask every investors to just forget about their investment, while at the same time insulting their intelligence by disguising a "here's a penny, go fuck yourself" as a fair proposition.

Of course everybody is protesting, and hoping for arij to come back to reason and turn against RG, rather than against an angry crowd of random people.

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April 15, 2014, 02:30:11 AM


(As a sidenote, as some may know, when RG abandoned BitVPS, I accepted to join as RG had sold me a large amount of shares prior to that. I still have my shares and even more than before and will remain a shareholder.)



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April 15, 2014, 06:26:47 AM

What's going on here?

I think I can summarize as follows.

arij bought the whole operation from RG, and was informed, after buying, of some essential information, which indicates that the business comes with more liability than profitability. So basically, RG screwed arij. If arij was a reasonable person, he would go to the law to have RG pay for his actions.

However, arij decided not to, for some reason I don't understand. Then he thought that he could ask every investors to just forget about their investment, while at the same time insulting their intelligence by disguising a "here's a penny, go fuck yourself" as a fair proposition.

Of course everybody is protesting, and hoping for arij to come back to reason and turn against RG, rather than against an angry crowd of random people.

So, to be laconic...
RG hustled arij, so arij is screwing his investors.

I'm okay with investment risk, but I'm very much not okay with being scammed.
To be frank, this is a load of crap.

The only reason I invested in this company in the first place was because there was a set minimum the shares could be worth listed in the contract on btct.
To have an agreement I put my trust in broken like this is frustrating to say the least.
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April 15, 2014, 09:44:41 AM

Ok, here's my deal.

Shares were valued ~0.0015 BTC each when btct.co closed down, when BTC were valued ~200$.
Now BTCs are ~500$, so it would be fair to expect a price of 0.0006 BTC per share.

Pay that, or you are a scammer, and I'll have a chat with my lawyer in a few days.

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April 15, 2014, 05:00:49 PM

Ok, here's my deal.

Shares were valued ~0.0015 BTC each when btct.co closed down, when BTC were valued ~200$.
Now BTCs are ~500$, so it would be fair to expect a price of 0.0006 BTC per share.

Pay that, or you are a scammer, and I'll have a chat with my lawyer in a few days.


Over 50% of public shares have accepted and agreed to our offer. This is including 3/5 of the largest share holders.
We have consulted with a lawyer who specializes in securities prior to making our offer. We are well within our rights to execute this mandatory buy back and at +50%, the majority has already agreed to it. Rg broke his mpex contract/obligations to you guys. I would suggest finding rg and asking him where the proceeds of the sale went.

This is a non-negotiable gesture of good will and we hope you will claim your shares.
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April 15, 2014, 07:30:07 PM

Ok, here's my deal.

Shares were valued ~0.0015 BTC each when btct.co closed down, when BTC were valued ~200$.
Now BTCs are ~500$, so it would be fair to expect a price of 0.0006 BTC per share.

Pay that, or you are a scammer, and I'll have a chat with my lawyer in a few days.


Over 50% of public shares have accepted and agreed to our offer. This is including 3/5 of the largest share holders.
We have consulted with a lawyer who specializes in securities prior to making our offer. We are well within our rights to execute this mandatory buy back and at +50%, the majority has already agreed to it. Rg broke his mpex contract/obligations to you guys. I would suggest finding rg and asking him where the proceeds of the sale went.

This is a non-negotiable gesture of good will and we hope you will claim your shares.

I never invested anything with RG.
I invested my money with you, on BTCT.co, under the contract that was written there.
So the price per share limit there makes perfect sense to me.

And you can say it as many times as you want, but "We're taking the thing you bought back for a tiny fraction of what you paid for it" is not a gesture of good will. It's an insult to everyone who invested with you.


Quote
2.2. The Terms of the IPO.

(a) The Directors have elected to divide BitVPS into 1`000`000 (one million) equal non-voting shares with a total equity value of 1`200 BTC (0.0012 BTC each). In the event of liquidation or breach of this Agreement they solemnly promise and warrant to repay all investors holding shares at this minimum value. The Directors through their elected representative solemnly promise and warrant never to issue more shares either on MPEX or any other venue nor in any way to dillute existing shareholders at any point in the future ;

This is the contract I agreed to, and this is the contract you are obligated to uphold.
This is between you and I. I never dealt with RG, and, to be frank, your dealings with him don't matter to me at all. They are not legally relevant.
I want you to pay what was promised. That's 0.0012 BTC per share.
I'm willing to accept the loss--since I did pay more than that for my investment--but if you want to show good will, you will keep the promises you made.

If not, be sure to give out an address where I can contact this lawyer of yours. I'm sure we can come to an arrangement.
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April 16, 2014, 12:54:16 AM

Ok, here's my deal.

Shares were valued ~0.0015 BTC each when btct.co closed down, when BTC were valued ~200$.
Now BTCs are ~500$, so it would be fair to expect a price of 0.0006 BTC per share.

Pay that, or you are a scammer, and I'll have a chat with my lawyer in a few days.


Over 50% of public shares have accepted and agreed to our offer. This is including 3/5 of the largest share holders.
We have consulted with a lawyer who specializes in securities prior to making our offer. We are well within our rights to execute this mandatory buy back and at +50%, the majority has already agreed to it. Rg broke his mpex contract/obligations to you guys. I would suggest finding rg and asking him where the proceeds of the sale went.

This is a non-negotiable gesture of good will and we hope you will claim your shares.

I never invested anything with RG.
I invested my money with you, on BTCT.co, under the contract that was written there.
So the price per share limit there makes perfect sense to me.

And you can say it as many times as you want, but "We're taking the thing you bought back for a tiny fraction of what you paid for it" is not a gesture of good will. It's an insult to everyone who invested with you.


Quote
2.2. The Terms of the IPO.

(a) The Directors have elected to divide BitVPS into 1`000`000 (one million) equal non-voting shares with a total equity value of 1`200 BTC (0.0012 BTC each). In the event of liquidation or breach of this Agreement they solemnly promise and warrant to repay all investors holding shares at this minimum value. The Directors through their elected representative solemnly promise and warrant never to issue more shares either on MPEX or any other venue nor in any way to dillute existing shareholders at any point in the future ;

This is the contract I agreed to, and this is the contract you are obligated to uphold.
This is between you and I. I never dealt with RG, and, to be frank, your dealings with him don't matter to me at all. They are not legally relevant.
I want you to pay what was promised. That's 0.0012 BTC per share.
I'm willing to accept the loss--since I did pay more than that for my investment--but if you want to show good will, you will keep the promises you made.

If not, be sure to give out an address where I can contact this lawyer of yours. I'm sure we can come to an arrangement.

The snippet which you provided is RG's contract. This was never on BTCT.

Here are links to our Contract & Prospectus:

1) http://puu.sh/8alXJ.jpg - Here you can see we were listed as a REVENUE SHARE.
Snippet from the Contract section: "Each share is entitled to 1/1,000,000th of BitVPS' profits."

2) http://puu.sh/8alZc.jpg - Here is a snippet from the Executive Summary section (right below the Contract section): "we can't make any promises regarding the past contract"

When BitVPS was on BTCT.co this Contract & Prospectus was publicly available for any investor to see. I suggest you thoroughly read the screen shots which I have provided. You can also use the Internet Archive Wayback Machine to pull up the same information. http://web.archive.org/web/*/btct.co/security/BITVPS - Click June 18th. Once you see the website you will need to view the source.

fixed typo*