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Author Topic: [CRYPTO-TRADE] Crypto-trade.com IPO and official thread!  (Read 171061 times)
neotrix (OP)
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March 05, 2013, 09:27:08 PM
Last edit: November 12, 2013, 05:12:43 PM by neotrix
 #1

Hi everybody

Let me first introduce the project before you read the contract which will be proposed.
As some of you may know already I'm neotrix, 50% shareholder of Esecurity SA. Esecurity SA own koddos.com and kovpslayer.com. I'm also managing Esecurity SA 1 and 2 on litecoinglobal and one fund in BTC on Btct.co since fews months.

As announced yesterday, we are preparing a new trading plateform for crypto currencies and we would like to make this new service 50% publically owned. Let me first introduce this new service coming soon to you.

We have focused mainly on friendly trading interface, API and trading terminal. The website will be first owned by Esecurity SA (Koddos.com) until a new company is registered specially for crypto-trade.com.

Cryto-trade.com will accept trading with EUR and USD ( AUD and more will be added if needed for BTC) for BTC, LTC, NMC, PPC, TRC, DVC.
Pairs offered for trading will be (more will be added) :
BTC/ USD   BTC/EUR   LTC/BTC   LTC/USD   LTC/EUR   TRC/BTC   TRC/USD   NMC/BTC   NMC/USD   PPC/BTC    PPC/USD   DVC/BTC
More currencies and cryptocurrencies can be added later.

The sale of 50% of share to public could have multi effects. While assuring a huge promotion of the site in the community the fund of sales will be used in part to add more features, deposit and withdraw option and more. Good dividend can also be provided to a lot of people in the community according to trade volume and fees calculation as observed daily with respect to actual competitors. I would like to indicate that I don't really need funding for this project and can fund everything by myself, however I see a great potential and benefit to make the public 50% share holder , as explained previously, mainly for promotion purposes.

Fees of transactions will be as follows for users of this trading platform:
0.2% fees transaction for standard member
0.15% fees transaction for VIP member ( more than x volume monthly, more than x shares owned, or other categories can be considered later)


Official link: https://www.crypto-trade.com

The demo is only a prototype and will be updated daily from now to the launch date. Many functions are not enabled actually so you dont need to report any bugs of any sort. Anyways, suggestions for new features, improvement of present ones and other ideas are always welcomed. The display values or figures are dummy values and are in no way reflecting real figures.

The actual hosting is a shared hosting which is purposely used for testing and it will be moved to an efficient dedicated server with 16 cores, plugged onto Esecurity SA Network with High DDOS protection (Koddos.com). Dont be surprised to see the website not loading as fast as it will soon be blazing fast with upgrade in hardware and network.So you may experience performance issues at the moment.

PS : please use only Mozilla firefox for now, other navigator are not fixed and could create problem during your navigation.


LISTING CONTRACT
[/b][/u]


Please find below the contract which will be used for listing soon on BTCT.CO and litecoinglobal (next batch could be sold on other platform):

Description:
Crypto-trade.com is a new  trading platform for crypto currencies, It will allow users to trade USD, EUR for BTC, LTC, NMC, TRC, PPC, DVC. This project is launched under Esecurity SA company ( koddos.com, kovpslayer.com) and will be moved under its own company as soon the registration is completed. The management will be handled by Esecurity SA team (currently managing koddos.com)
The link of the website is : https://crypto-trade.com

Listings
Shares will be sold in BTC or LTC using BTCT.CO for BTC (Other platforms can be selected for other batches in BTC) and using Litecoinglobal for LTC.

Shares issuing:
50% dividend rights and 100% opinion/motion rights will be sold in 5 batches of 10,000 shares ( 10% each) .We will start by selling 1st batch(10,000 shares) for BTC and 2nd batch(10,000 shares) for LTC.The last 3 batches will be sold for BTC only.
It means that 40,000 shares will be available at end for BTC or 40% dividend rights and 10,000 shares for LTC or 10% dividend rights of crypto-trade.com. About the price of this operation we observed volume and estimated profits of our competitors and we decided the price of this sales according some profits estimation. The profits could be some % monthly for shareholders. I let each investor make its own calculation and decide if this offer will fill its expectations and investment requirement before to take any decisions to invest in this opportunity.

Batches will be sold as follow :
First 2 batches for BTC and LTC will have a face value of 0.20 btc each or the equivalent in LTC ( According to last equivalent LTC rate ), I will try to update the LTC share price everyday.
The 3 lasts batches in BTC will be sold at 0.25 BTC, 0.30 BTC and 0.35 BTC each respectively.
The date is not planned yet for the last 3 batches , and the issuer can launch the last 3 batches at its whole discretion 24 hours after a public announcement.

Assets of the listing:
The listed will
- Own the source code, Design and texts contents
- Own the domain name
- Own 16 cores server to run the website
- Own a percentage of monthly profits
- Own a right to vote for new decision, via motions/opinions system

Operation costs
There will be no operation cost taken on monthly profits other than the 50% rest profit which is not sold to public for the direction of project.  Server will be bought by the direction and plugged to Esecurity SA DDOS protected network for free for the lifetime of the project. No management cost will be deducted as it is included in the rest 50% profit.
Only some costs can be deducted for further development which solely relies on public motion obtaining 51% vote from all shareholders. (the 50% shareholders representing 100% of motion, the direction cannot vote for motion proposed)

Dividend
The monthly net profits includes : total of BTC or LTC earned with fees on transactions + all other crypto currencies fees and usd, Eur fees converted daily to btc or ltc. 50% of this amount will be issued monthly as dividend to the shareholders owning 50% of the right on dividend.
The dividend will be issued, the first day of each month. All shares sold on public market are entitled to the dividend payment.  The dividend could be also provided weekly instead of monthly at the whole discretion of the issuer.
The first dividend will be issued the first month after the launch of the website.
The dividend will be issued proportionately to the number  of shares sold until all shares are sold in public market.
Ex: If only 1 batch of 10% has been sold, 10% of the total website profits will be issued as dividend.

We cannot predict our future dividend and can only analyse monthly profits of our competitors who match around our planned fees. This website ( we won’t expose their identity) does trades summing up to 100k to 200k usd total volume daily and gets 0.4% of this volume around. This would mean a profit of 400 to 800 usd daily. According our estimation, after few months of operation we could make a profit of 25 000 USD monthly easily, and we would reverse if we reach this level, 12.500 USD monthly. This would make the dividend to few % monthly profits for shareholders.

Share Buyback
The issuer has no right to buy back. Shares are definitive sold on public market and the only way for issuer to buy back will be to buy it on public market.

Communication
All important announcements will be made on:
 - Exchanges where listing are listed using their own mailing or inside system
 - bitcointalk.org

Risks and profitability
You must consider this investment a medium risk investment with a high possibility of profits depending on volume observed on other competitors. However operating a crypto currency trading platform incurs some risk related to crypto currencies themselves ( double spend attacks, …) as well as the website could be victims of attack which could impact profits. However , be informed about the fact that we are specialist in server security since years and we will provide our best to avoid such incidents.

Closure of activities
The company can be closed and its activity stopped,  if one of the following case appears :
-   The company suffers losses for 6 months consecutively.
-   The 3 managers are incapable to manage (death, hospitalized for a long time , natural disaster…)
-   One justice order orders us to close our activies ( risk decreased as the final company will be registered in an offshore country with an exchange market not regulated)


Liquidation of the operation in case of closure:
The following describe actions that will be taken in the case of the company’s closure.
In the best case the company will be sold to a competitor or to another big company willing to expand their business in another fields. 50% of sales price will redistributed to shareholders as a final dividend in order to close the fund.
In the worst scenario, all assets will be liquidated and 50% of revenues will be redistributed to shareholders.


Every potential investor are requested to analyze this offer seriously before going ahead to ensure that it meets their expectations and requirements.  The only example for estimations of profits are competitors and this is what we chalked out based on our estimations.

Link to the listing on Btco.co and Litecoinglobal.com :

Batch 1 ( 10 000 shares represnting 10%) BTCT.CO : https://btct.co/security/CRYPTO-TRADE
batch 2 ( 10 000 shares representing 10%) LTC-GLOBAL : https://www.litecoinglobal.com/security/CRYPTO-TRADE


Regards, Neotrix ( Owner and shareholder of Esecurity SA, Koddos.com and Kovpslayer.com)

Crypto-trade.com : https://bitcointalk.org/index.php?topic=149458.0
https://koddos.com and http://kovpslayer.com.  "Bitcointalkdiscount" to get 10% discount recurring.
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March 06, 2013, 12:47:15 AM
 #2

Couple of quick questions.

1.  You refer to 2 managers.  I assume you're one - who are the other 2?

2.  What happens as far as dividends and voting are concerned whilst only some shares are sold?  If those are allocated as though all shares had been sold then it would be impossible to pass any motion until at least 25001 shares had been sold - making it impossible to function at all.  Really you should issue 100,000 shares on ONE platform and take 50k yourself (or split with other managers) with a contractual obligation to abstain on votes with your shares if you don't intend to vote.  Then dividends would scale properly with sales - and vote would be possible from the start.  Sales on other platforms would then be pass-throughs where you'd end the votes ahead of on main platform and proxy the votes in.

Selling different batches of same company on different platforms sounds great until a problem arises.  There's various issues that could cause controversy - e.g. exchange-rate conversions meaning sales on a platform actually occurred at the 'wrong' price, failure/hacking of one platform with loss of funds (do investors on other platforms have to take losses made on a platform shares weren't even for sale on when they invested?)

I think 10k+ BTC is a big ask for a website without any customers yet : to get any sort of trade justifying that you're going to need pretty good systems for depositing/withdrawing fiat (the BTC/USD and BTC/EUR pairs would have to generate bulk of trade - as there just isn't enough market cap in the alt currencies to generate profits justifying the price tag). What deposit/wihtdrawal methods are you intending to strat with?  Do you intend to require AML/KYC information from anyone depositing or withdrawing fiat?  Quick calculations show that to pay even 10% dividends per year you'd need to be handling a fair few million USD/EUR in deposits/withdrawals - that's the sort of size of transaction that it's hard to slide under the radar in most countries.
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March 06, 2013, 01:18:33 AM
 #3

Hey Neotrix,

I am kind of curious about it being in HongKong.
My understanding is that eCurrency is illegal in China and HongKong?
neotrix (OP)
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March 06, 2013, 01:34:45 AM
Last edit: March 06, 2013, 01:54:46 AM by neotrix
 #4

Hey Neotrix,

I am kind of curious about it being in HongKong.
My understanding is that eCurrency is illegal in China and HongKong?

The actual adress in Hong kong is Esecurity Sa adress so nothing illegal as Esecurity SA is registered in Belize. As said in contract Project is actually under Esecurity SA but will be moved to its own company soon. I'm actually talking with my lawers in order to find the best country where I will register the new company dedicated to crypto-trade.

Couple of quick questions.

1.  You refer to 2 managers.  I assume you're one - who are the other 2?

2.  What happens as far as dividends and voting are concerned whilst only some shares are sold?  If those are allocated as though all shares had been sold then it would be impossible to pass any motion until at least 25001 shares had been sold - making it impossible to function at all.  Really you should issue 100,000 shares on ONE platform and take 50k yourself (or split with other managers) with a contractual obligation to abstain on votes with your shares if you don't intend to vote.  Then dividends would scale properly with sales - and vote would be possible from the start.  Sales on other platforms would then be pass-throughs where you'd end the votes ahead of on main platform and proxy the votes in.

Selling different batches of same company on different platforms sounds great until a problem arises.  There's various issues that could cause controversy - e.g. exchange-rate conversions meaning sales on a platform actually occurred at the 'wrong' price, failure/hacking of one platform with loss of funds (do investors on other platforms have to take losses made on a platform shares weren't even for sale on when they invested?)

I think 10k+ BTC is a big ask for a website without any customers yet : to get any sort of trade justifying that you're going to need pretty good systems for depositing/withdrawing fiat (the BTC/USD and BTC/EUR pairs would have to generate bulk of trade - as there just isn't enough market cap in the alt currencies to generate profits justifying the price tag). What deposit/wihtdrawal methods are you intending to strat with?  Do you intend to require AML/KYC information from anyone depositing or withdrawing fiat?  Quick calculations show that to pay even 10% dividends per year you'd need to be handling a fair few million USD/EUR in deposits/withdrawals - that's the sort of size of transaction that it's hard to slide under the radar in most countries.

1.  In fact I said 3, Me, the other shareholder of Esecurity (my main partner on online business since 6 or 7 years) and the the main programmer (which manage the team of programmers working on this project), someone working with me since years who have my full trust and like my partner in koddos, I know him personnaly.

2. In case of motion when not all shares are sold I planned simply to make the vote according ratio of number of shares sold. 51% of actual owner will also be enought to pass the motion.
About different platform we could at end to move all shares to our own website with a special plateform only for our listing in order to avoid such problem. That's anyway a nice question which make me thinking more about this story of multi platform. Anyway for now the one choose for BTC and LTC are same owner.
The price has been estimated to give like 2-3% or more monthly when the website will be fully running after few months. How ? Just make calculation yourself looking for example look btc-e daily volume and also guessing their fees. You will see we are far of 10% yearly at the price we quoted. Additionnaly, we could decide to don't sell the 50% fully if the market don"t follow this idea. Finally as said in contract many time everyone is free to analyse this offer and decide if it meet his investment requierement. Anyway as investors myself in many projects and looking on competitors monthly volume of trade and fees associated, I would myself invest in this listing, honnestly. We dont need the funding for the website and are more selling like a dividend opportunity, then if even 0 share are sold that's will be ok for us. Anyway don't forget first 20 shares will be like 75% cheaper than the last one sold. And we could sell only 20% or so...

About payment processor which will be accepted the list on the home page of demo is a good list for start but will be extanded.
Last word about price, I seen vircurex selling for like 2500 btc of shares representing like 8% of his company bringing actually 11 BTC month due a plateform totally not adapted to trader expectation...Looking at this Crypto-trade 50% price look even more cheap in my opinion.

Crypto-trade.com : https://bitcointalk.org/index.php?topic=149458.0
https://koddos.com and http://kovpslayer.com.  "Bitcointalkdiscount" to get 10% discount recurring.
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March 06, 2013, 06:07:38 AM
 #5

This is really exciting, I can't wait to see how the site ends up.  I definitely like the look and feel of your other sites.


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March 06, 2013, 07:37:43 AM
 #6

when is the exact launch date?

neotrix (OP)
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March 06, 2013, 08:27:50 AM
 #7

This is really exciting, I can't wait to see how the site ends up.  I definitely like the look and feel of your other sites.


Thanks Burnside

when is the exact launch date?

Official launch is planned to be 1st April 2013.

Crypto-trade.com : https://bitcointalk.org/index.php?topic=149458.0
https://koddos.com and http://kovpslayer.com.  "Bitcointalkdiscount" to get 10% discount recurring.
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March 06, 2013, 09:22:54 AM
 #8

Official launch is planned to be 1st April 2013.

Do they have April Fools Day globally?  Or is it just an American thing?  Smiley

Might want to make that release April 2nd.   Grin
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March 06, 2013, 09:26:49 AM
 #9

Official launch is planned to be 1st April 2013.

Do they have April Fools Day globally?  Or is it just an American thing?  Smiley

Might want to make that release April 2nd.   Grin

I think this is for Europa and USA, here in Asia not specially, that's why I forgot the 1st April story when I did setup this date. OK let's go for 2nd april then to avoid some people would think this is a joke...Smiley

PS : Burnside I sent you a MP.

Crypto-trade.com : https://bitcointalk.org/index.php?topic=149458.0
https://koddos.com and http://kovpslayer.com.  "Bitcointalkdiscount" to get 10% discount recurring.
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March 06, 2013, 09:50:23 AM
 #10

Where is the IPO coins going to? You, or does it go back to the company? This is an important distinction.

(Sorry if you already mentioned it in the post :)

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March 06, 2013, 10:23:38 AM
Last edit: March 06, 2013, 10:23:47 PM by neotrix
 #11

Where is the IPO coins going to? You, or does it go back to the company? This is an important distinction.

(Sorry if you already mentioned it in the post Smiley

As explained in the contract. We don't really need a funding for this project and we funded already everything ourself, and we will continu. We see this IPO like an opportunity to everyone to become shareholder and get monthly dividend, additionnaly what best for the promotion of this exchange than thousands of ppl which own a piece? The coins of IPO go also for us, even if a part will be hold as reserve for the company . ( anyway we would hold a reserve of liquidity for the company, even by selling 0 shares)

So the reply you want to get is : coins go to 3 ppl creators and managers of projects. The company don't need more funding that we can bring ourself already so we sell half to offer opportunity to everyone, while thinking to the promotion of project also.

Crypto-trade.com : https://bitcointalk.org/index.php?topic=149458.0
https://koddos.com and http://kovpslayer.com.  "Bitcointalkdiscount" to get 10% discount recurring.
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March 06, 2013, 10:42:11 AM
 #12

Where is the IPO coins going to? You, or does it go back to the company? This is an important distinction.

(Sorry if you already mentioned it in the post Smiley

As explained in the contract. We don't really need a fuding for this project and funded already everything ourself, and we will continu. We see this IPO like an opportunity to everyone to become shareholder and get monthly dividend, additionnaly what best for the promotion of this exchange than thousands of ppl which own a piece? The coins of IPO go also for us, even if a part will be hold as reserve for the company . ( anyway we would hold a reserve of liquidity for the company, even by selling 0 shares)

So the reply you want to get is : coins go to 3 ppl creators and managers of projects. The company don't need more funding that we can bring ourself already so we sell half to offer opportunity to everyone, while thinking to the promotion of project also.
Okay, thanks!

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March 06, 2013, 11:33:23 AM
 #13

So you cannot do a forced buyback, but you could just hold on to the coins from the IPO, crash the company (or get "hacked"), buy back at low market rates and walk away?

All in all you want to get:
2000 + 2000 (in LTC) + 2500 + 3000 + 3500 BTC = 13k BTC for:
Quote
Assets of the listing:
The listed will
- Own the source code, Design and texts contents
- Own the domain name
- Own 16 cores server to run the website
- Own a percentage of monthly profits
- Own a right to vote for new decision, via motions/opinions system

What's your current and projected income, your current and projected expenses?
Why don't you tell us who your competitor (there's only a single one(?!) and it would easily be placed amongs the top 5 markets on http://bitcoincharts.com/markets/) is and how you got to know these numbers (which vary by 100%)?
If you only sell 10k shares, do they still get 50% of the income?

https://www.coinlend.org <-- automated lending at various exchanges.
https://www.bitfinex.com <-- Trade BTC for other currencies and vice versa.
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March 06, 2013, 11:53:17 AM
 #14

So you cannot do a forced buyback, but you could just hold on to the coins from the IPO, crash the company (or get "hacked"), buy back at low market rates and walk away?

All in all you want to get:
2000 + 2000 (in LTC) + 2500 + 3000 + 3500 BTC = 13k BTC for:
Quote
Assets of the listing:
The listed will
- Own the source code, Design and texts contents
- Own the domain name
- Own 16 cores server to run the website
- Own a percentage of monthly profits
- Own a right to vote for new decision, via motions/opinions system

What's your current and projected income, your current and projected expenses?
Why don't you tell us who your competitor (there's only a single one(?!) and it would easily be placed amongs the top 5 markets on http://bitcoincharts.com/markets/) is and how you got to know these numbers (which vary by 100%)?
If you only sell 10k shares, do they still get 50% of the income?


I could crash, buyback cheaper...yes right and so then all communauty is aware about and I have no more trust and customers on trading site, some people are honnest in this world and are more looking for long term business than for fast profits, specially when my actual income allow me to live without any financial problem... Anyway yes this IPO like ALL IPO need investors allow some trust to the issuer.

Additionnaly I'm putting my company name and notoriety in this story, Esecurity SA bring us 50 k months...and worth 10 time more than this IPO according ratio dividend...

Current project income: 0 as not launched yet.
Estimation project income after few months : 25 k usd monthly
Current project expense : Nothing as everything is bought by us, server plugged to our own network and ddos protected.

About the price as said each is free to decide or not if it fit its expectation but we etablished it according estimation of income and going for a few % profits monthly for last buyer (last batch being sold expensiver). It means more % profits for first buyers also.

We was analysing mainly BTC-e as its the only site whch allow to trade alternate with real volume for our estimation.

Another thing we can take in consideration is that recently vircurex having a low volume due not adapted plateform and promising 11 btc profits only per month...sold like 8% of its company already for like 2500 btc. Then I really think as i said in another post, the price of our IPO still reasonnable while looking on other offer.

Crypto-trade.com : https://bitcointalk.org/index.php?topic=149458.0
https://koddos.com and http://kovpslayer.com.  "Bitcointalkdiscount" to get 10% discount recurring.
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March 06, 2013, 11:59:25 AM
 #15

Good luck for the launch.

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March 06, 2013, 12:01:00 PM
 #16

Good luck for the launch.

Thank you for support  Smiley

Crypto-trade.com : https://bitcointalk.org/index.php?topic=149458.0
https://koddos.com and http://kovpslayer.com.  "Bitcointalkdiscount" to get 10% discount recurring.
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March 06, 2013, 01:33:03 PM
 #17

Anonymous voted ABSTAIN with comment: "The dividend will be issued proportionately to the number of shares sold until all shares are sold in public market. Ex: If only 1 batch of 10% has been sold, 10% of the total website profits will be issued as dividend." Would this actually be 50% + 10% distribution since the site needs 50% for operation costs?

Reply for BCTC.CO shareholder who voted ( cannot reply him by email but I guess he follow this thread)

The site dont need 50% for operation cost, We sell only up to 50% and we will keep for us minimun 50%. It mean we could sell only 20% of site if the market don't follow it.

If only 10% ( 1 batch) is sold then only 10% will be reversed to sharholders owning 10% of website, and 90% will be keep by administration. The goal is to sell 50% anyway, and this article in contract was trying to explain solution in case of not all share ae sold, or simply as I doubt the 50 000 shares ( 5 batch at toal of 10 000 shares) will be sold fully before the launch or first dividend. This article was also meaning if at first dividend only 10% is sold hen only 10% is reversed.

I hope it reply to your questions.

Crypto-trade.com : https://bitcointalk.org/index.php?topic=149458.0
https://koddos.com and http://kovpslayer.com.  "Bitcointalkdiscount" to get 10% discount recurring.
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March 06, 2013, 02:31:35 PM
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When will the IPO be? April 1st?

Since you don't need the funds for the website it doesn't make sense selling shares now.
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March 06, 2013, 02:42:17 PM
 #19

When will the IPO be? April 1st?

Since you don't need the funds for the website it doesn't make sense selling shares now.

Starting to sell from tomorrow I think, contract has been added already to BTCT.CO and LTC-GLOBAL (1 batch of 10% each). We decided to start now and selling cheaper first shares in order to offer more profit possibilities to early adopters who are ready to bet it will be a sucess, while other batch will be sold later expensiver when no real risk seeing the actual profits...

We dont need funding, everything is paid already or we have the money sitting for. As said in others post, even if NO shares are sold we will launch and operate the website.

It make sense to start sell now in order to promote the project in the communauty, shareholder will be first users also i can guess. That's a part of marketing strategy.

Crypto-trade.com : https://bitcointalk.org/index.php?topic=149458.0
https://koddos.com and http://kovpslayer.com.  "Bitcointalkdiscount" to get 10% discount recurring.
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March 06, 2013, 02:48:21 PM
 #20

It's great to have a competitor to btc-e! I'm tired of having that site being DDOS'd every other day.

On that note, how will you defend against DDOS? How will you maintain a near 24/7 uptime?

Also, please consider including either customizable charts for the exchanges, for example changing the timeline duration and changing candlestick vs average price. Perhaps an embedded chart from LTCcharts may work. If that is too difficult for a new website, a simple chart like on BTC-e still works very well for viewing the activity of the last 2 hours graphically.
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