pepinw
Newbie
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Activity: 4
Merit: 0
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August 26, 2013, 08:24:23 PM |
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I'll be in on this for 10BTC.
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wonko
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August 26, 2013, 09:52:35 PM |
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I would be in too  but only if OP has enough money to float the bid himself and then sell out the shares after the fact |
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superbit (OP)
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August 26, 2013, 10:14:31 PM |
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I would be in too but only if OP has enough money to float the bid himself and then sell out the shares after the fact That is my plan unless I come up with something better in the short-term, but my cap is $175K and unfortunately I don't see that bid hanging on. |
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Stuartuk
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August 26, 2013, 10:33:43 PM |
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Due to the potential final bid price unfortunately this may have a slim chance - but if you are serious about the 175k you should definitely look for a similar idea in the future that would generate PR for btc. I'm pretty certain you would get all you investment back in a short period of time by floating on an exchange and you could issue 95% of the interest for 100% of your investment and thus make an instant 5% on the deal to cover your costs and make a little instant profit.
Good luck!
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Stuartuk
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August 26, 2013, 10:38:42 PM |
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I can do 2 things:
1) I can write a press release if you'd like.
2) I can write a "Gangster's Paradise" bitcoin song once we win, and we'll be able to use it without having to pay any royalties to anyone!
We've been spending most our lives living in a bitcoin paradise...
If you got weird Al Yankovich onboard for that it would go global! It might confuse people over his Amish version though |
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pmelt
Newbie
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Activity: 25
Merit: 0
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August 27, 2013, 06:44:29 AM |
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I'd be in on this too, and I'd love to talk about it on my podcast to generate other interest if you start selling shares. This could be pretty cool.
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canth
Legendary
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Activity: 1442
Merit: 1001
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August 27, 2013, 11:52:08 AM |
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Great idea. I'm in - I'll pledge at least 10BTC.
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Deprived
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August 27, 2013, 12:34:01 PM |
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You can put me down for 100 BTC.
I'd offer to escrow but don't think it's worth it because:
a) It's highly unlikely we'll win
b) I'm sure there won't be a problem selling whatever you want to sell.
Would suggest terms are that:
Shares are allocated in order of pledges up to whatever amount you choose to sell.
If you win then people have 48 hours to send their BTC once you've proved payment at your end.
Share are charged for at spot + 10% - extra being to cover exchange fees, pay you for doing it and cover the fee to list (spot being spot at whichever exchange you use).
And your call how many you sell and how many you keep for yourself.
I don't generally invest in fiat-denominated stuff but this seems like a bit of fun.
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Deprived
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August 27, 2013, 12:46:09 PM |
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Couple of other things to consider if you decide to try to proceed:
1. If you do it, make the security name generic (e.g. BTC-Music) rather than specific. That way it leaves open the possibility of investors voting to issue more shares to expand holdings.
2. Be careful to consider the tax implications - especially if you're a US citizen. It's likely there'll be tax withheld unless you complete documentation. Either way it's entirely possible any royalties paid are going to be treated as taxable income to you personally - so make sure it won't push you up into a higher band or something nasty (as there wouldn't be a way to push the tax liability onto investors without them also completing lots of documents).
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LiteBit
Legendary
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Activity: 1133
Merit: 1050
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August 27, 2013, 01:25:30 PM |
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In for 10 up to 20 BTC. Agreed, this sounds fun.
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superbit (OP)
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August 27, 2013, 02:42:57 PM |
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You can put me down for 100 BTC.
I'd offer to escrow but don't think it's worth it because:
a) It's highly unlikely we'll win
b) I'm sure there won't be a problem selling whatever you want to sell.
Would suggest terms are that:
Shares are allocated in order of pledges up to whatever amount you choose to sell.
If you win then people have 48 hours to send their BTC once you've proved payment at your end.
Share are charged for at spot + 10% - extra being to cover exchange fees, pay you for doing it and cover the fee to list (spot being spot at whichever exchange you use).
And your call how many you sell and how many you keep for yourself.
I don't generally invest in fiat-denominated stuff but this seems like a bit of fun.
Great feedback, Thanks. I agree, it's kind of unlikely we'll win, but it may open up the possibilities now to do this in the future with a little more notice. |
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maxmint
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August 27, 2013, 02:59:50 PM |
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If this idea gets some media attention it could bring awesome results. But I would not jump the gun on this but rather come up with a solid plan.
True, Coolio's songs would be an awesome asset, but you could start this as well in a couple of weeks with some other artist.
This model could evolve into something very interesting, I'm really excited to see where this is going!
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Moebius327
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August 27, 2013, 03:46:06 PM |
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Would invest.  |
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carnitastaco
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August 27, 2013, 06:32:08 PM |
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Would invest. Absolutely in if this (or something similar in the future) happens. |
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ojm
Newbie
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Activity: 13
Merit: 0
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August 28, 2013, 07:21:19 AM |
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Crazy idea! I'd be in for 25 BTC.
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superbit (OP)
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August 28, 2013, 03:44:54 PM |
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Well that's annoying.
**This item has been sold through our “Buy It Now” option**
I logged in to bid and that's what I saw. There was no word of a buy it now option, it must have popped up right when the auction started. I wonder what the price was? We might have had a shot.
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maxmint
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August 28, 2013, 03:47:01 PM |
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Well that's annoying.
**This item has been sold through our “Buy It Now” option**
I logged in to bid and that's what I saw. There was no word of a buy it now option, it must have popped up right when the auction started. I wonder what the price was? We might have had a shot.
As I said in a post before, the idea in general is great. It does not necessarily have to be Coolio – although that would have been great. |
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orco#2
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September 13, 2013, 01:57:56 PM |
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I will invest
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xchrisxsays
Member
Offline
Activity: 98
Merit: 10
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September 13, 2013, 02:03:06 PM |
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Well that's annoying.
**This item has been sold through our “Buy It Now” option**
I logged in to bid and that's what I saw. There was no word of a buy it now option, it must have popped up right when the auction started. I wonder what the price was? We might have had a shot.
Well that's unfortunate, but keep your eye out for other similar opportunities. You definitely have the communities interest! |
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