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Author Topic: Accepting BTC for NYSE NASDAQ AMEX Equity Stock Trading  (Read 2709 times)
alphaguru
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February 06, 2013, 07:34:44 PM
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Hi, I am an admin at Nonko Trading, I am very enthusiastic about the development of BTC currency.  As such, I am currently spearheading a project of allowing clients to join our firm using BTC.

We are a first mover on this specific type of structure.  So we are open to suggestions and constructive feedback.

I've gone through many posts on this forum and it seems one idea comes to mind.  Trust.  So this is our attempt at letting the board know we are available and we want to establish a line of trust.

After reading this post So you think you're going to start a Bitcoin business, right? We made a check list

1.  Click here for Our version of a business plan - Done
2.  Member of the Web of Trust (WOT) - Done
3.  Announcement on our Company Website
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danieldaniel
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February 06, 2013, 07:53:14 PM
 #2

Are you a government registered broker (if required in your country)?

alphaguru
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February 06, 2013, 07:57:55 PM
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No, we are not registered nor are we required to.  We are a private trading firm.
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February 06, 2013, 10:27:33 PM
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Count of all ratings received: 0. Total of points: 0.

See here.

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
alphaguru
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February 06, 2013, 10:51:20 PM
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Hi, MPOE-PR, Yes we are aware, We are BTC Virgins. 

We wanted to avoid building up our ratings with small transactions for the +1, just for the sake of getting a score.  We don't want to be seen as one of those eBay users with (9999) feedback.

Would you recommend that we build the ratings specifically on transactions related to our business?  Any feedback is welcome.

Deafboy
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February 07, 2013, 12:56:57 AM
 #6

I like the OP of MPOEs Bitcoin business topic, but I wasn't expecting anyone to follow it! Thanks for your great introduction.
I almost feel bad that I'm not into trading on traditional exchanges.
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February 07, 2013, 01:14:26 AM
 #7

Just wondering but do you really have any thing to backup that your real and wont steal our money?

Also do you plan to lower the limit for BTC? I was thinking about putting some inbut 500$ worth is quite a large sum for just some random site

kakobrekla
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February 07, 2013, 01:32:18 AM
 #8

Are funds kept in Bitcoin denomination (as profits and loses) or do you just convert to BTC to fiat? Not really an advantage if so.

Yeah, no stock will outperform Bitcoin.

Luceo
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February 07, 2013, 01:51:02 AM
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Are funds kept in Bitcoin denomination (as profits and loses) or do you just convert to BTC to fiat? Not really an advantage if so.

Yeah, no stock will outperform Bitcoin.

I think you miss the point, this is actually a huge advantage because you can diversify money you make with Bitcoin into stocks without having to go through an exchange, then a bank account.

OP, will you be converting BTC to fiat?

Also, will we be able to withdraw in BTC?

What's minimum account size?

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February 07, 2013, 03:01:19 AM
 #10

Luceo if you check the site minium account size is 500$ but it also says a normal US $ account minium is higher
"Limited time offer for BTC users……Start trading with as little as $500 USD…. our non-BTC clients typically start with $2500-$5000 USD"

http://www.nonkotrading.com/trading-checklist/join-using-your-bitcoins-btc/

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February 07, 2013, 03:17:20 AM
 #11

I think you miss the point,

If the point is having your shit tied to fiat money, then yeah, I am missing it.

alphaguru
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February 07, 2013, 04:58:55 AM
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I like the OP of MPOEs Bitcoin business topic, but I wasn't expecting anyone to follow it! Thanks for your great introduction.
I almost feel bad that I'm not into trading on traditional exchanges.

MPOE put in effort in that post.  We heed his words.

Just wondering but do you really have any thing to backup that your real and wont steal our money?

Also do you plan to lower the limit for BTC? I was thinking about putting some inbut 500$ worth is quite a large sum for just some random site

Your first question does not have an easy answer because it is true, we are at this point just a random site.  I believe a good way to satisfy your uncertainty would be to apply what you have suggested: start with a lower threshold for BTC funded accounts.  Let's give this a try at $100.  Seems like a nice round number.

Are funds kept in Bitcoin denomination (as profits and loses) or do you just convert to BTC to fiat? Not really an advantage if so.

Yeah, no stock will outperform Bitcoin.

Since BTC is relatively new.  Funds are not kept in BTC denomination.  Our back office technology does not support BTC currency at the moment.  

Are funds kept in Bitcoin denomination (as profits and loses) or do you just convert to BTC to fiat? Not really an advantage if so.

Yeah, no stock will outperform Bitcoin.

I think you miss the point, this is actually a huge advantage because you can diversify money you make with Bitcoin into stocks without having to go through an exchange, then a bank account.

OP, will you be converting BTC to fiat?

Also, will we be able to withdraw in BTC?

What's minimum account size?

Awesome, we see eye-to-eye on this.  We believe an integration with BTC can be a great channel for users to diversify their BTC into: Stocks, Commodity Stocks. ETF's, Currency Shares.  The advantage would be: less hands involved in the whole process.  Basically, exactly what Luceo said.

Based on the market rate, we can convert BTC to USD and we can allow users to withdrawal their USD back to BTC.

By popular demand, $100 USD is now the minimum account size


I think you miss the point,

If the point is having your shit tied to fiat money, then yeah, I am missing it.

Or if you just have way too much BTC it would be a good way to hedge yourself against a falling BTC, not that I am saying BTC will fall, but its always good to spread your risk.
TraderTimm
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February 07, 2013, 06:37:43 AM
 #13

The problem here is that the "major" markets are fundamentally broken.

I hope I don't have to review specifically why, as you should already know. Between High Frequency Trading snatching fractions, inane monetary policy from the Federal Reserve (to the tune of $84 Billion a month) - why in the hell would I want to invest in a market that is prone to systemic failure?

Also, why would I want to invest in sovereign currencies via Forex?

I realize not everyone thinks as I do, and they're free to do what they please, but I would beg some of them to reconsider. When the big "adjustment" comes, you won't want to be anywhere near a conventional market, at all.

fortitudinem multis - catenum regit omnia
MPOE-PR
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February 07, 2013, 08:24:21 AM
 #14

Count of all ratings received: 0. Total of points: 0.

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Hi, MPOE-PR, Yes we are aware, We are BTC Virgins.  

We wanted to avoid building up our ratings with small transactions for the +1, just for the sake of getting a score.  We don't want to be seen as one of those eBay users with (9999) feedback.

Would you recommend that we build the ratings specifically on transactions related to our business?  Any feedback is welcome.

I appreciate you did take the step to register.

The thing is, it pays to take the time and build a reputation. Not a lot of +1 transactions from nobody as those won't really help, but actual deals.

I guess the best advice in the end is just don't be in a rush.

Also, bitcoin-assets isn't such a bad place to be.

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
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February 07, 2013, 11:40:26 AM
 #15

I like the OP of MPOEs Bitcoin business topic, but I wasn't expecting anyone to follow it! Thanks for your great introduction.
I almost feel bad that I'm not into trading on traditional exchanges.

MPOE put in effort in that post.  We heed his words.

Just wondering but do you really have any thing to backup that your real and wont steal our money?

Also do you plan to lower the limit for BTC? I was thinking about putting some inbut 500$ worth is quite a large sum for just some random site

Your first question does not have an easy answer because it is true, we are at this point just a random site.  I believe a good way to satisfy your uncertainty would be to apply what you have suggested: start with a lower threshold for BTC funded accounts.  Let's give this a try at $100.  Seems like a nice round number.

Are funds kept in Bitcoin denomination (as profits and loses) or do you just convert to BTC to fiat? Not really an advantage if so.

Yeah, no stock will outperform Bitcoin.

Since BTC is relatively new.  Funds are not kept in BTC denomination.  Our back office technology does not support BTC currency at the moment.  

Are funds kept in Bitcoin denomination (as profits and loses) or do you just convert to BTC to fiat? Not really an advantage if so.

Yeah, no stock will outperform Bitcoin.

I think you miss the point, this is actually a huge advantage because you can diversify money you make with Bitcoin into stocks without having to go through an exchange, then a bank account.

OP, will you be converting BTC to fiat?

Also, will we be able to withdraw in BTC?

What's minimum account size?

Awesome, we see eye-to-eye on this.  We believe an integration with BTC can be a great channel for users to diversify their BTC into: Stocks, Commodity Stocks. ETF's, Currency Shares.  The advantage would be: less hands involved in the whole process.  Basically, exactly what Luceo said.

Based on the market rate, we can convert BTC to USD and we can allow users to withdrawal their USD back to BTC.

By popular demand, $100 USD is now the minimum account size


I think you miss the point,

If the point is having your shit tied to fiat money, then yeah, I am missing it.

Or if you just have way too much BTC it would be a good way to hedge yourself against a falling BTC, not that I am saying BTC will fall, but its always good to spread your risk.
okay cool 100$ ill probally sign up and start tonight. On a side note for deposits/withdrawls are they instant or nearly instant? For example If i deposited lets say 10BTC today and bought lets say google stock and it went up could i sell tommarow or even the same day and withdraw to BTC?

Also do 100$ for acccount mean that the account must always have 100$ or just to start you need 100$ in it

alphaguru
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February 07, 2013, 01:44:18 PM
 #16

okay cool 100$ ill probally sign up and start tonight. On a side note for deposits/withdrawls are they instant or nearly instant? For example If i deposited lets say 10BTC today and bought lets say google stock and it went up could i sell tommarow or even the same day and withdraw to BTC?

Also do 100$ for acccount mean that the account must always have 100$ or just to start you need 100$ in it

Deposits are instant and you can trade the same day.

Trades that result in a profit would need one day to settle before you can withdrawal.

Example:
1. Let's say you send 10BTC, which is approximately $211.90 at today's market rate, you wouldn't be able to buy GOOG, but you can buy about 3 shares of QQQ ($67.19).  
2. If those shares went up $10.00 to $77.19 today.  You can sell those 3 shares for a $30.00 profit.
3. Tomorrow after the trade settles, your account balance would be somewhere around $241.90 minus cost on commissions $7.98 ($3.99 each way) and a $9.50 web-platform fee. Total real balance about $224.42
4. Assuming you make no trades that same day that you want to make a withdrawal, we can send you $224.42, which is about 10.59BTC
5. A gain of approximate .59 BTC

Your account doesn't always have to have $100, but the less money you have the less buying power you have to acquire shares.
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February 07, 2013, 01:47:31 PM
 #17

Private Domain Registration that was registered a year ago
PO Box on some island
A phone number in Vancouver
And you're in Dallas

Smells fishy.

Since he's in USA, he needs to be licensed properly.
alphaguru
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February 07, 2013, 06:46:38 PM
 #18

Private Domain Registration that was registered a year ago
PO Box on some island
A phone number in Vancouver
And you're in Dallas

Smells fishy.

Since he's in USA, he needs to be licensed properly.


Hi Vampire,

1.  The website itself is relatively new, however the entity is older and was established offshore to avoid heavy compliance. 
2.  PO Box belongs to our offshore agent, Morning Star Holdings, in the Island of Nevis, an offshore tax haven.  Many other companies use this exact same address.
3.  We have a Vancouver number because we have many Canadian traders and that makes it convenient for them to contact us
4.  There is an independent contractor that refers traders to us that might live in the US, but we are not a US based company and have no operations in the US

Since we are NOT a broker or brokerage firm, nor do we offer any trading services or investment advice, we do not require a license.
starsoccer9
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February 19, 2013, 10:26:56 PM
 #19

Just made my account and I have to say that the admin(alphaguru) is quite nice and was very helpful helping me setup my account and learn how to use the site.

The site/trading interface its self didnt seem to hard to use to me and im quite new to trading. All in all my experience has been pretty good nothing really to complain about at all. I would recommend anyone who likes BTC and wants to get involved in the stock market use this as its the only stock market accepting BTC to my knowledge.

sunnankar
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February 19, 2013, 11:15:16 PM
 #20

Since we are NOT a broker or brokerage firm, nor do we offer any trading services or investment advice, we do not require a license.

So what service exactly are you providing?

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