[IPVO] [Multiple Exchanges] Neo & Bee - LMB Holdings

[mpr20rt]

update?

Update of what?

Are shares still available?

Yes. Note that you can pretty much monitor this by watching the issued count of XBOND. It decreases as people redeem. 218,813 NEOBEE shares have been claimed so far.

Also note that if there are a handful of XBOND holders that hold the majority of the bonds, and they choose NOT to redeem them for this offering, then it may not sell out due to the sheer logistics of it.

In the event this round does not sell out, the remaining shares in this round have already been committed to private buyers.

Either way, we still have a few days to watch it unfold

Was this option announce somewhere? If possible I want to bid into this as well at 0.0025

[1714562773]

1714562773

[1714562773]

1714562773

[1714562773]

1714562773

[1714562773]

1714562773

[1714562773]

1714562773

[xchrisxsays]

So is placing early bids on BitFunder orderbook still in the works or is that not going to happen?

[ThickAsThieves]

update?

Update of what?

Are shares still available?

Yes. Note that you can pretty much monitor this by watching the issued count of XBOND. It decreases as people redeem. 218,813 NEOBEE shares have been claimed so far.

Also note that if there are a handful of XBOND holders that hold the majority of the bonds, and they choose NOT to redeem them for this offering, then it may not sell out due to the sheer logistics of it.

In the event this round does not sell out, the remaining shares in this round have already been committed to private buyers.

Either way, we still have a few days to watch it unfold

Was this option announce somewhere? If possible I want to bid into this as well at 0.0025

The unsold shares are already committed to private buyers, sorry.

[ThickAsThieves]

So is placing early bids on BitFunder orderbook still in the works or is that not going to happen?

Waiting on BitFunder.

[joele]

So is placing early bids on BitFunder orderbook still in the works or is that not going to happen?

Waiting on BitFunder.

I transferred my XBOND shares to admin issuer at around 1:20 EDT, sent the confirmation email to tat.investments email, I have not receive a confirmation back.  Should I receive a confirmation back or just wait for my shares in Bitfunder?

[ThickAsThieves]

So is placing early bids on BitFunder orderbook still in the works or is that not going to happen?

Waiting on BitFunder.

I transferred my XBOND shares to admin issuer at around 1:20 EDT, sent the confirmation email to tat.investments email, I have not receive a confirmation back.  Should I receive a confirmation back or just wait for my shares in Bitfunder?

No one has received confirmations yet. I will probably start parsing all of the emails tomorrow to make sure all the necessary data is included and that everyone's math is sound. This process will also likely include sending confirmation emails.

Thanks!

[mgio]

Why are people putting in bids on BTCT that are below the IPO price? I imagine those will be deleted when the IPO goes live.

[hasher87]

Why are people putting in bids on BTCT that are below the IPO price? I imagine those will be deleted when the IPO goes live.

Im sure there'll be a 'handful' of ppl who will be reversing their decision to hold on to tat.bee

[redmetal]

Why are people putting in bids on BTCT that are below the IPO price? I imagine those will be deleted when the IPO goes live.

8,000,000 shares with a price of 0.003 makes 24,000 BTC, this is alot of money to fill quickly. I am extremely excited for this IPO and see that in the "Long run" this will succeed,

But you will find people who are only after a quick buck who will have very little confidence in holding this for years (with at least 6 months before anything is due)
These short termers will sell at below the price they paid, and I will pick some of these up over the next 6 months at a discounted price.

[canth]

Why are people putting in bids on BTCT that are below the IPO price? I imagine those will be deleted when the IPO goes live.

8,000,000 shares with a price of 0.003 makes 24,000 BTC, this is alot of money to fill quickly. I am extremely excited for this IPO and see that in the "Long run" this will succeed,

But you will find people who are only after a quick buck who will have very little confidence in holding this for years (with at least 6 months before anything is due)
These short termers will sell at below the price they paid, and I will pick some of these up over the next 6 months at a discounted price.

I'd agree with this estimate. There seems to be a very short attention span in crypto currency investing.

[Rannasha]

Why are people putting in bids on BTCT that are below the IPO price? I imagine those will be deleted when the IPO goes live.

8,000,000 shares with a price of 0.003 makes 24,000 BTC, this is alot of money to fill quickly. I am extremely excited for this IPO and see that in the "Long run" this will succeed,

But you will find people who are only after a quick buck who will have very little confidence in holding this for years (with at least 6 months before anything is due)
These short termers will sell at below the price they paid, and I will pick some of these up over the next 6 months at a discounted price.

This plan only works if confidence is low enough across the board that the price actually drops below IPO level. If you look at Labcoin, which is either an outright scam or has the worst PR ever, but still trading well above IPO price.

If this IPO is successful and no major confidence-shattering news breaks, I don't see why the shareprice will dip significantly below IPO level.

[HeRetiK]

Thanks for the updated prospectus, keep up the good work.

Some issues I see / points that would require further clarification:

1)
"Euro­pegged accounts remove the risk of BTCEUR price drops from the customer onto the bank, which is hedged with company EUR reserves and an aggressively risk­averse trading desk" (p.7)

I don't see the EUR reserves showing up in the financial projections. Did you just pool Fiat and BTC together to the total BTC holdings (eg. 68,295 BTC for Feb)? If so, what ratio of the holdings will you keep in EUR? Just... a ballpark figure... 1%, 10%, 50%? If not, what are your projected EUR reserves?


2)
From the financial projections: "Total BTC Holdings: 68,295 - Required Reserve (BTC): 67,964"

To me this likes you only plan for 0.49% of BTC holdings on top of what is required. This seems little compared to the sudden price drops BTC tends to make. Which brings me to 3)


3)
The most conservative profit projection you show is based on a BTC growth of 1%. What happens if there is no growth but rather decline? Even assuming that Bitcoin will grow over the next couple of years, there's still a chance that your first year of business will take place during a time of Bitcoin decline. How much decline can you handle?


Edit: Don't get me wrong though, looking at the current state of banking regulations and the reserve requirements for traditional banks you guys are still on a great way, I'm just trying to dissect and understand the aspects of your operation that I think are the most critical

[NUFCrichard]

I have a question about the buisiness plan.  You plan for an appreciation of the Bitcoin price from February onwards for 6 months, how will you be affected by large changes in the Bitcoin $ cost if it moves before next February?  Also you don't seem to have factored the same bitcoin growth in between now and February as you have from February onwards, is this because of the affect your buying will have on the world market?  In the conservative case you would own about 5% of the worlds bitcoin next August so I guess that could change the price a bit!

I wonder if a crash in bitcoin price before February would be advantageous or not for you.  It would mean that you are buying in low, but your IPO money is less valuable.  Also the reputation of bitcoin might have been hurt by a large fall making it less popular with the risk averse...  

I really like the idea and think that as long as the bitcoin price plays ball, it looks very promising.

[ManBearPig]

I'm sorry (you can tell where this is going with that start eh?) but the concept of a Bitcoin bank seems like an oxymoron right now. Most of Bitcoin's supporters are behind it because of the concept of a decentralised currency and the kick in the teeth it can give the banksters.

The money transfer firms WU, PayPal, SWIFT et al. are all sniffing round BTC poised to jump in on this and one big fuck-up will set back the cryptocurrency cause years.

On the reddit for this: http://www.reddit.com/r/Bitcoin/comments/1mmiju/the_first_bitcoin_bank_in_the_world_is_opening_in/ there are some big unanswered questions regarding hedging against large price moves which mirror most of my misgivings about this.

[cryptocyprus]

I am just between meetings so have not had a chance to answer questions on here or Reddit, I have a spreadsheet to post publicly that is pre-programmed with the rates (From the crash starting at the top and ending at the bottom on the last day, just before the rise back up)from the April bubble and demonstrates the effect that they will have on our reserves etc, you can also modify the data to see any of the effects, of any scenario you desire, including trading the reserves.

Once I get back to my office, I will post this spreadsheet.

Sorry for the delay.

[HeroC]

Oh. My. Gosh.


If this really happens, it will be awesome! I cannot wait. Great job, guys!

[ThickAsThieves]

Early bidding is now open on BitFunder: https://bitfunder.com/asset/NEOBEE

[pedrog]

Early bidding is now open on BitFunder: https://bitfunder.com/asset/NEOBEE

WOW, check it a few minutes ago and it was not open yet, finished reading this topic and already more than 400k bids, looks nice!

[Skoutz]

Are there early bids in the other markets?

[Rannasha]

Are there early bids in the other markets?

Yes. BTC-TC has around 230K, not sure about Havelock.