[HAVELOCK] Crypto Financial (CFIG) Official Thread

[kleeck]

What is the plan if all four tranches do not sell out? I couldn't seem to find any information regarding action in the event of a failed IPO.

Thanks!

Crypto Financial answered that much earlier in the postings on this thread. See the response given in the following post:

https://bitcointalk.org/index.php?topic=269191.msg2880035#msg2880035

Thank you!

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[MonkeyBear68]

I just looked on Havelock and CFIG is now the largest fund by capitalization; more than double invested in CFIG than the next highest fund. More than 50% of the CFIG shares are now gone and timewise the IPO is about halfway through. This means a full sell-out is possible.

[nubbins]

A whale bought 50,000 shares, it's actually selling pretty slowly

[MonkeyBear68]

A whale bought 50,000 shares, it's actually selling pretty slowly

There are always big investors and small investors in any market or fund. A couple of more whales and hundreds of smaller fish buying in the next nine days still means that CFIG will sell out. Often the smaller investors will watch what the bigger investors are doing and take the lead from them. I believe that 20,000 shares is the maximum allowed, so must be more that one person buying to sell over 50,000 in a day.

[canuckgal]

A whale bought 50,000 shares, it's actually selling pretty slowly

That's crazy!  Could you imagine being so rich, that you can just toss $750k onto a Bitcoin stock anonymously?  If it were me, I would definitely be in this thread telling people how much faith I have in this company, and this would definitely be some positive PR.

[kleeck]

A whale bought 50,000 shares, it's actually selling pretty slowly

That's crazy!  Could you imagine being so rich, that you can just toss $750k onto a Bitcoin stock anonymously?  If it were me, I would definitely be in this thread telling people how much faith I have in this company, and this would definitely be some positive PR.

The individuals that see the value in CFIG don't care if more people buy in so they won't be here cheering it on. CFIG has done a fine job answering questions. If potential investors don't see the value of CFIG that just means less shares to pay out to.

[Korbman]

A whale bought 50,000 shares, it's actually selling pretty slowly

There are always big investors and small investors in any market or fund. A couple of more whales and hundreds of smaller fish buying in the next nine days still means that CFIG will sell out. Often the smaller investors will watch what the bigger investors are doing and take the lead from them. I believe that 20,000 shares is the maximum allowed, so must be more that one person buying to sell over 50,000 in a day.

The investors we're seeing didn't come from the forums or on Havelock (necessarily speaking, of course). Not sure if you guys noticed this, but only about 4,200 shares have actually been publicly purchased from the offering. Suffice it to say, people on the forums aren't actually that interested in investing (en masse) with CFIG (so far).

With that in mind, they're still selling shares, but it's to private entities instead. Meaning, an established Bitcoin financier has probably been in contact with the actual people behind the pseudoanonymous "Crypto Financial", enough for them to transfer BTC6,000-BTC7,000 in one go and have Crypto privately transfer shares to their account. In this case, there's no purchasing limit.

So as it turns out, people are only willing to invest about BTC630 (at the time of writing) in the idea of CFIG. The only other investors have been people with a lot of coin to move around, and who are vastly more privy to the company details than what has been revealed to the public. More than likely it's a VC or other private investor with USD, and CFIG is just pushing the equivalent in BTC to their account.

The individuals that see the value in CFIG don't care if more people buy in so they won't be here cheering it on. CFIG has done a fine job answering questions. If potential investors don't see the value of CFIG that just means less shares to pay out to.

I'll revise that for you: they've done a terrible job at answering important questions...simply because they have no intention of revealing who they are or the fine details of how the business will run. They're just looking for the community to be involved in the project, not for them to invest.

[Crypto Financial]

FOR IMMIDIATE RELEASE:

CRYPTO FINANCIAL (CFIG) is pleased to announce that our public offering of our Virtual Shares will close on Friday August 23rd, 2013 AT 12:00 P.M EST.  Live trading of our shares will commence immediately once the IPO has closed.  Any remaining shares will be placed for sale in the open market at the original IPO price. We appreciate the countless people and organizations that have reached out to us and have showed their support for our venture. 

[xchrisxsays]

FOR IMMIDIATE RELEASE:

CRYPTO FINANCIAL (CFIG) is pleased to announce that our public offering of our Virtual Shares will close on Friday August 23rd, 2013 AT 12:00 P.M EST.  Live trading of our shares will commence immediately once the IPO has closed.  Any remaining shares will be placed for sale in the open market at the original IPO price. We appreciate the countless people and organizations that have reached out to us and have showed their support for our venture. 

This has been a very strange, IceDrill-esque IPO. I don't like it.

[canth]

FOR IMMIDIATE RELEASE:

CRYPTO FINANCIAL (CFIG) is pleased to announce that our public offering of our Virtual Shares will close on Friday August 23rd, 2013 AT 12:00 P.M EST.  Live trading of our shares will commence immediately once the IPO has closed.  Any remaining shares will be placed for sale in the open market at the original IPO price. We appreciate the countless people and organizations that have reached out to us and have showed their support for our venture. 

This has been a very strange, IceDrill-esque IPO. I don't like it.

Do you generally use your spider-sense or ESP to make investment decisions? I'm kidding, but I think that you'd add more to the thread with facts and rationale rather than just gut reactions. "I don't like it" will tend to get you a lot of ignore clicks.

[mindragon]

So as it turns out, people are only willing to invest about BTC630 (at the time of writing) in the idea of CFIG.

Minor nitpick, 828.15 BTC / 5521 shares have sold.

MD

[nubbins]

Minor nitpick, 828.15 BTC / 5521 shares have sold.

(at the time of writing)

Interestingly enough, looks like another ~10k shares got bought up:

Units Outstanding: 155221
Market Cap: ฿23283.1500 (~$2353926.47)

[MonkeyBear68]

So as it turns out, people are only willing to invest about BTC630 (at the time of writing) in the idea of CFIG.

Minor nitpick, 828.15 BTC / 5521 shares have sold.

MD

You guys both must be looking on a different Havelock website than me. Currently I see ฿23283.1500 / 155221 units sold.

Please provide some explanation as to how you derive your numbers.

[MonkeyBear68]

Interestingly enough, looks like another ~10k shares got bought up:

Units Outstanding: 155221
Market Cap: ฿23283.1500 (~$2353926.47)

Phew! At least your numbers concur with what I currently see on the website.  

[Anonymousg64]

I cant believe its not sold out already, most must still think its not going to sell or that they might trap  their funds by investing, but with current policy, if dividends come out good, should double in value quite easily. I doubt the private investors want to wait more then 4 months to start getting dividends.

[Korbman]

So as it turns out, people are only willing to invest about BTC630 (at the time of writing) in the idea of CFIG.

Minor nitpick, 828.15 BTC / 5521 shares have sold.

Indeed, and as Nubbins pointed out, that was just at the time of writing based on what was sold.

You guys both must be looking on a different Havelock website than me. Currently I see ฿23283.1500 / 155221 units sold.

Please provide some explanation as to how you derive your numbers.

Look at the "Public Offerings" tab. The details there are what's publicly being purchased (meaning physically going to "Buy IPO" and making a transaction). The total on the main page is what's outstanding (private + public).

[MonkeyBear68]

So as it turns out, people are only willing to invest about BTC630 (at the time of writing) in the idea of CFIG.

Minor nitpick, 828.15 BTC / 5521 shares have sold.

Indeed, and as Nubbins pointed out, that was just at the time of writing based on what was sold.

You guys both must be looking on a different Havelock website than me. Currently I see ฿23283.1500 / 155221 units sold.

Please provide some explanation as to how you derive your numbers.

Look at the "Public Offerings" tab. The details there are what's publicly being purchased (meaning physically going to "Buy IPO" and making a transaction). The total on the main page is what's outstanding (private + public).

Thank you for that explanation. I can see that a vast amount of the shares were purchased privately. It is somewhat baffling as to why there is not more public interest. Perhaps once the company is established and running successfully then there will be more public interest. At any rate I wish them success.

[Crypto Financial]

Korbman is Correct, we were able to sell many of our shares privately to internal and external investors that have come forward over the past few days to fund our company. We couldn't have done it without the support of people from this Forum and in General from people in the Bitcoin community. We feel confident with moving forward with our venture.

Thank you,

Crypto Financial

[Korbman]

Thank you for that explanation.

No problem, it's usually something easy to miss.

I can see that a vast amount of the shares were purchased privately. It is somewhat baffling as to why there is not more public interest.

It's not baffling at all if you've read through the thread and all the provided documentation (or even emailed them). CFIG didn't provide nearly the much information to the public, and any serious questions regarding operations, financials, background, etc were either avoided, answered using doublespeak, or just copy/pastes from the business plan or prospectus.

Contrary to popular belief, there aren't nearly as many stupid people investors on the forums as there are made out to be. In most cases, the more practical information you provide to inform and involve the public, the more you'll end up raising in funding.

Perhaps once the company is established and running successfully then there will be more public interest. At any rate I wish them success.

Couldn't agree more.

[Duffer1]

I cant believe its not sold out already...

You should read the rest of the thread.  It's pretty obvious why they failed to get even 2% of their ask.

..most must still think its not going to sell or that they might trap  their funds by investing..

There is no buy support for the IPO, I don't see how there would be buy support on the market.  

..if dividends come out good...

They won't, they can't.  You're being asked to take on the significant majority (66%) of first year risk for a 20% stake in ONE of their revenue streams, (which begs the obvious question: do the real owners gain profits from more revenue streams than the "virtual shareholders"?) and by their own business plan you won't even start seeing divs for a year (if they succeed at all), and then (by their own plans), they project 12% total by the end of the second year.  

Now I know they did change their div policy to make it a more attractive offer, but you're still looking at a year or more before you start seeing divs.

Pay no attention to the fact that the smart money is betting that BTC itself will be significantly more valuable than 12% in two years.  (You can't tell me a room full of financial experts that are familiar with Bitcoin hasn't considered the likely value, +appreciation, of $3mil worth of BTC).  

If that sounds like a good deal to you then please take the following advice before you invest in CFIG:  Go to https://www.casascius.com/ buy as many of those as you can afford.  Then bury them in your backyard.  The value appreciation of the coin itself is virtually certain to be more profitable than CFIG shares (in the next two years).

I doubt the private investors want to wait more then 4 months to start getting dividends.

(Edit: to be clear, the following is me going a bit overboard on the hate train)
"Private investors" assumes that CFIG didn't just transfer a tranche or two to Havelock accounts of their own to fake a large VC buy to drum up buy support, and offer the remainder @ market to try to kickstart movement.  They were asking for 1.5mil more than their projected first year starting costs anyways.  Banking two tranches until their official launch would be a clever fall back in case of poor IPO performance.

Edit:
I may be hating on their IPO (for good reason), but I do hope their business succeeds.