[Groupbuy] Jupiter KNCMiner (0.5 BTC shares) 12 sold! [CLOSED] !!!

[BenTuras]

Although I like the idea of the IPO, I am not particularly trilled by the idea that yet two more parties are involved in our income from the GB. I just want my income in my own wallet, period.

Hence the following question:

I have tried to find a way to automatically withdraw from BitFunder/WeExchange the moment anything is being deposit on my account but haven't found it yet.

Is there a way to do this ?

[hasher87]

Although I like the idea of the IPO, I am not particularly trilled by the idea that yet two more parties are involved in our income from the GB. I just want my income in my own wallet, period.

Hence the following question:

I have tried to find a way to automatically withdraw from BitFunder/WeExchange the moment anything is being deposit on my account but haven't found it yet.

Is there a way to do this ?

quick question, if you were in their same situation, having a LOT of bitcoin transactions/shareholders to look at, do you prefer to give out the dividends to the shareholder manually?

Personally, i could go mental just to think of it just my two cents there

[tyrion70]

Although I like the idea of the IPO, I am not particularly trilled by the idea that yet two more parties are involved in our income from the GB. I just want my income in my own wallet, period.

Hence the following question:

I have tried to find a way to automatically withdraw from BitFunder/WeExchange the moment anything is being deposit on my account but haven't found it yet.

Is there a way to do this ?

quick question, if you were in their same situation, having a LOT of bitcoin transactions/shareholders to look at, do you prefer to give out the dividends to the shareholder manually?

Personally, i could go mental just to think of it just my two cents there

Hey Hasher,

What Ben is actually referring to is that on bitfunder dividend payments go to your account balance and are not directly payed out to your own bitcoin wallet. I will ask Jon if it's a possibility of adding that feature.

If anyone has an idea on how to do this currently on bitfunder please share

[dnaleor]

a question about the IPO:

maybe add something about the situation were you would just stop mining because the costs are too high.

[namzycad3]

a question about the IPO:

maybe add something about the situation were you would just stop mining because the costs are too high.

+1

[btceic]

Although I like the idea of the IPO, I am not particularly trilled by the idea that yet two more parties are involved in our income from the GB. I just want my income in my own wallet, period.

Hence the following question:

I have tried to find a way to automatically withdraw from BitFunder/WeExchange the moment anything is being deposit on my account but haven't found it yet.

Is there a way to do this ?

quick question, if you were in their same situation, having a LOT of bitcoin transactions/shareholders to look at, do you prefer to give out the dividends to the shareholder manually?

Personally, i could go mental just to think of it just my two cents there

Hey Hasher,

What Ben is actually referring to is that on bitfunder dividend payments go to your account balance and are not directly payed out to your own bitcoin wallet. I will ask Jon if it's a possibility of adding that feature.

If anyone has an idea on how to do this currently on bitfunder please share

I don't think there is a way to do this, they purposefully de-coupled themselves from fiat by going with weexchange as a pass through.

You can send your BTC directly to your wallet, but funding your account must go through weexchange.

[tyrion70]

You can send your BTC directly to your wallet, but funding your account must go through weexchange.

That's good, I wasn't aware of that.. So you don't need WeExchange for that either?

a question about the IPO:

maybe add something about the situation were you would just stop mining because the costs are too high.

Well, technically it's already there.. If costs exceeds proceeds dividends would be negative.. So you would have to pay to own shares We assume that if that happens no-one will vote no when we ask to stop mining.. If we see that coming however we will try to sell the miners first (offcourse through a vote).

I'll think of a sentence to add to the IPO text to clarify :-)

On the other hand, we intend to make this a long(er) lasting venture by expanding. It's going to be a race to keep the best Hash/Joule ratio. To that extend I foresee that we might have to think of something to be able to reinvest some dividends instead of paying them out. But that's something for when we have the KNC miners delivered and we know where we stand..

Thanks and cheers!

[BenTuras]

quick question, if you were in their same situation, having a LOT of bitcoin transactions/shareholders to look at, do you prefer to give out the dividends to the shareholder manually?

Personally, i could go mental just to think of it just my two cents there

To be honest, yes. It's not that hard to create a script that feeds the payments to bitcoind or bitcoin-qt.
But as I said again, I am OK with the current setup, I just don't want my BTC on a website.

[BenTuras]

You can send your BTC directly to your wallet, but funding your account must go through weexchange.

Can you explain to me how ?
I had a look at their FAQ:

Where do I go to deposit or withdraw BTC?
A: To transfer either way, you MUST link a WeExchange account. (Click here for instructions linking a WeExchange Account)
To Deposit BTC:
Log into WeExchange and click on 'Direct Exchange'->'Merchants'. Enter the amount in BitFunder's deposit field.
To Withdraw BTC:
Goto the Transactions page and look on the right hand side.


Seems to me I need a WeExchange account :-(

[KSV]

You can send your BTC directly to your wallet, but funding your account must go through weexchange.

Can you explain to me how ?
I had a look at their FAQ:

Where do I go to deposit or withdraw BTC?
A: To transfer either way, you MUST link a WeExchange account. (Click here for instructions linking a WeExchange Account)
To Deposit BTC:
Log into WeExchange and click on 'Direct Exchange'->'Merchants'. Enter the amount in BitFunder's deposit field.
To Withdraw BTC:
Goto the Transactions page and look on the right hand side.


Seems to me I need a WeExchange account :-(

yup, u need a bitfunder PLUS a weExchange acct. . .

[mxmz.in]

I DO NOT like to have another account to be able to receive BTC.
Isn't the point of BTC is to be able to avoid a middleman at all?

EDIT: It looks like bitfunder decided to force BTC to weexchange, for LTC they allow direct address.

[tyrion70]

I DO NOT like to have another account to be able to receive BTC.
Isn't the point of BTC is to be able to avoid a middleman at all?

EDIT: It looks like bitfunder decided to force BTC to weexchange, for LTC they allow direct address.

You don't have to shout

I don't know if that is the point of BTC.. Fact is we said we would try to IPO from the start so I don't know if you know any exchanges where you don't need an account but as far as I know all exchanges require you to register.

Anyways, we can't force anyone to bitfunder so if you don't want to we'll pay your shares manually. We would greatly appreciate it though cause from our point of view it makes life a lot easier (paying dividends; contacting shareholders; votes; trading etc..).

Cheers,

[mxmz.in]

...

I don't know if that is the point of BTC.. Fact is we said we would try to IPO from the start so I don't know if you know any exchanges where you don't need an account but as far as I know all exchanges require you to register.

...

Cheers,

Registering with WeExchange I am forced to agree to this nonsense : "
!!!!! ATTENTION !!!!!

THIS SITE IS IN BETA DEVELOPMENT AND MAY BE PRONE TO ERRORS.
"

[tyrion70]

Registering with WeExchange I am forced to agree to this nonsense : "
!!!!! ATTENTION !!!!!

THIS SITE IS IN BETA DEVELOPMENT AND MAY BE PRONE TO ERRORS.
"

Yeah saw that too.. But a lot of bitcoin sites have either a beta notice or a disclaimer to get bitcoin a step further in society those disclaimers should be removed..

From btct.co:
This site is currently in beta. Nothing is verified. Everything is virtual. Do your homework. Watch out for scams. Be diligent.

Coinbase is also still in beta

At least it's not alpha.. I think the bitcoin client used to be beta as well but I'm not sure of that..

[mxmz.in]

btct.co has been around for a while so we can at least bet on their experience.

what are the benefits of bitfunder that outweigh the risk of having to deal with weexchange?

[tyrion70]

btct.co has been around for a while so we can at least bet on their experience.

what are the benefits of bitfunder that outweigh the risk of having to deal with weexchange?

Well actually WeExchange has been around for some time as well (July 2012):
https://bitcointalk.org/index.php?topic=85829.msg945138#msg945138

Bitfunder has been around for that long as well.. I don't know when btct.co started but I think its around the same time, somewhere in 2012?

It was trivial for us if we would use bitfunder or btct.co. But the communication with Jon so far has been perfect. WeExchange and Bitfunder are closely connected by the way, so I don't believe it introduces an extra risk. If anything it should make it more secure.

Cheers,

[btceic]

You guys have nothing to worry about in regards to bitfunder and weexchange, I can confirm that it works well and both are polished and professional.

[photon]

Okay, I've been reading through these posts and the PM, but can someone explain to me the benefit of going through the IPO versus keeping shares as they are? If we're getting paid the same either way, why switch over to the IPO arrangement?

Is the only benefit that there's no fee to sell my shares to someone else? Since I don't plan on doing that, is there another benefit worth setting up the accounts and transferring to the IPO? I'm honestly asking; no sarcasm here.

[btceic]

Okay, I've been reading through these posts and the PM, but can someone explain to me the benefit of going through the IPO versus keeping shares as they are? If we're getting paid the same either way, why switch over to the IPO arrangement?

Is the only benefit that there's no fee to sell my shares to someone else? Since I don't plan on doing that, is there another benefit worth setting up the accounts and transferring to the IPO? I'm honestly asking; no sarcasm here.

I think it has more to do with the management of it all.
bitfunder has tools that tyrion70 and blastbob need in order to manage all of the people and the shares that are outstanding.

I am ok with them not doing it via spreadsheet either.

just my 2 satoshi's

[hasher87]

You guys have nothing to worry about in regards to bitfunder and weexchange, I can confirm that it works well and both are polished and professional.

i have registered both for quite a while now, and i can vouch that both sites are good