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

[pedrog]

cryptocyprus, will the customers need be residents of Cyprus, or travelers/tourists/business people who are not residents but came to Cyprus will also be able to open accounts in your bank?

https://bitcointalk.org/index.php?topic=289730.msg3102701#msg3102701

[cryptocyprus]

however the Bitcoin that we top our customers wallets up with, is taken from our own reserves that we openly trade with.

This make lots of money if BTC goes up, but will go bust if BTC falls.

The price will significantly rise only because of their new customers btw.

cryptocyprus, will the customers need be residents of Cyprus, or travelers/tourists/business people who are not residents but came to Cyprus will also be able to open accounts in your bank?

To open a wallet with Neo initially you will need to be a Cypriot resident, we will be opening this up to EU customers once we have ensured no backlogs are created upon start up.

Bee on the other hand will be open to everyone on the island including tourists, you will be able to purchase pre-paid Bee cards (top up with BTC) and or use your smartphone wallet through the POS terminals. The prepaid cards would reduce data roaming fees for existing Bitcoiners who are on their travels in Cyprus.

[fr33d0miz3r]

Are there any opportunities to have a legit corporate account at Neo&Bee?
For example, if I have a company registered in Cyprus, could I have a N&B account and be able to receive money from other countries using wire transfer? How legal would it be?

[cryptocyprus]

Are there any opportunities to have a legit corporate account at Neo&Bee?
For example, if I have a company registered in Cyprus, could I have a N&B account and be able to receive money from other countries using wire transfer? How legal would it be?

If the company is registered in Cyprus then that legal entity is based (resident) here.

[fr33d0miz3r]

If the company is registered in Cyprus then that legal entity is based (resident) here.

Good! Thank you for answers!

[wizzardTim]

From what I read I think that buying Neo&Bee shares could be the chance of a lifetime!

I believe in what you're doing, congrats in making us move forward.

[cryptocyprus]

If the company is registered in Cyprus then that legal entity is based (resident) here.

Good! Thank you for answers!

No problem. Your company can even accept Bee payments.

[cryptocyprus]

From what I read I think that buying Neo&Bee shares could be the chance of a lifetime!

I believe in what you're doing, congrats in making us move forward.

Thanks!

[kcirazy]

2.  If you choose to leave the bitcoins with them then thereafter the amount of bitcoins in that address are adjusted so as to always have a value equivalent to the euros you deposited.

What?

So they sell you bitcoins and hold the private key for you, so they can increase or decrease the amount if the value fluctuates.
Potential to make A LOT of money when the value of BTC rises. Bankrupcy when Bitcoin fails. Interesting bet.
Not sure why you would go for that as a customer, but hey... if they can find people that do - good for them.

I wish them good luck.

[fr33d0miz3r]

What?

So they sell you bitcoins and hold the private key for you, so they can increase or decrease the amount if the value fluctuates.
Potential to make A LOT of money when the value of BTC rises. Bankrupcy when Bitcoin fails. Interesting bet.
Not sure why you would go for that as a customer, but hey... if they can find people that do - good for them.

I wish them good luck.

Customers will be able to choose what type of account they want to have: euro-pegged or bitcoins. Accounts of the second type will have static bitcoins amount.

[JimiQ84]

I understand this as bank where money is backed by bitcoins held by Neo. So, if something happens (like it happened in Cyprus earlier this year), customers don't lose their money, 'cause they don't hold euros, but bitcoins (it is just represented as euros).

EDIT: It's also more convenient for average Joe to have account with Neo, than just hold some virtual valet, which is essentially useless for day-to-day shopping.

[MilkyLep]

I admire your tenacity to delve into any and all questions people throw your way. IMHO it shows the deterministic and motivated attitude which many bitcoiners possess and wish to share with the world. Bitcoin is a tangible movement driven by the intangible, I can't wait to follow Neo & Bee's success.

I'm ready to pick up more shares.

That is all. 


Off-topic PS : Your earlier statement regarding corporate accounts sent a thought through my mind. I see there are two main breweries in Cyprus, KEO and Leon, do you think there's room for another?

[cryptocyprus]

I admire your tenacity to delve into any and all questions people throw your way. IMHO it shows the deterministic and motivated attitude which many bitcoiners possess and wish to share with the world. Bitcoin is a tangible movement driven by the intangible, I can't wait to follow Neo & Bee's success.

I'm ready to pick up more shares.

That is all.  


Off-topic PS : Your earlier statement regarding corporate accounts sent a thought through my mind. I see there are two main breweries in Cyprus, NEO and Leon, do you think there's room for another?

It is Keo, we are Neo  Carlsberg has a large market share too, but I don't really drink so not the best positioned to comment, however the island is full of British Expats of which the majority like a beer or two. I guess you own a brewery?

I want to answer every question in relation to the business, those that have been here to see me either in passing or for business matters, know I can talk for hours on the intricacies of the business. However whilst in Amsterdam my time will be even more tight, the same for when I return but I will make an hour or two a day in the evenings to answer questions in the thread and provide updates and related news/images etc.

[JimiQ84]

I admire your tenacity to delve into any and all questions people throw your way. IMHO it shows the deterministic and motivated attitude which many bitcoiners possess and wish to share with the world. Bitcoin is a tangible movement driven by the intangible, I can't wait to follow Neo & Bee's success.

I'm ready to pick up more shares.

That is all.  


Off-topic PS : Your earlier statement regarding corporate accounts sent a thought through my mind. I see there are two main breweries in Cyprus, NEO and Leon, do you think there's room for another?

It is Keo, we are Neo  Carlsberg has a large market share too, but I don't really drink so not the best positioned to comment, however the island is full of British Expats of which the majority like a beer or two. I guess you own a brewery?

I want to answer every question in relation to the business, those that have been here to see me either in passing or for business matters, know I can talk for hours on the intricacies of the business. However whilst in Amsterdam my time will be even more tight, the same for when I return but I will make an hour or two a day in the evenings to answer questions in the thread and provide updates and related news/images etc.

Maybe later you'll have some time to update first post of thread with FAQs

[ex-trader]

2.  If you choose to leave the bitcoins with them then thereafter the amount of bitcoins in that address are adjusted so as to always have a value equivalent to the euros you deposited.

What?

So they sell you bitcoins and hold the private key for you, so they can increase or decrease the amount if the value fluctuates.
Potential to make A LOT of money when the value of BTC rises. Bankrupcy when Bitcoin fails. Interesting bet.
Not sure why you would go for that as a customer, but hey... if they can find people that do - good for them.

I wish them good luck.

You summed it up perfectly. It a free option based on deceiving the customer that their deposits are somehow safe.

If there are bitcoin owning investors who don't understand the risks of this business (and there are plenty as Labcoin and Activeminer and Avalon etc prove) then good luck.

Mark my words - you have all been warned.

[cryptocyprus]

I admire your tenacity to delve into any and all questions people throw your way. IMHO it shows the deterministic and motivated attitude which many bitcoiners possess and wish to share with the world. Bitcoin is a tangible movement driven by the intangible, I can't wait to follow Neo & Bee's success.

I'm ready to pick up more shares.

That is all.  


Off-topic PS : Your earlier statement regarding corporate accounts sent a thought through my mind. I see there are two main breweries in Cyprus, NEO and Leon, do you think there's room for another?

It is Keo, we are Neo   Carlsberg has a large market share too, but I don't really drink so not the best positioned to comment, however the island is full of British Expats of which the majority like a beer or two. I guess you own a brewery?

I want to answer every question in relation to the business, those that have been here to see me either in passing or for business matters, know I can talk for hours on the intricacies of the business. However whilst in Amsterdam my time will be even more tight, the same for when I return but I will make an hour or two a day in the evenings to answer questions in the thread and provide updates and related news/images etc.

Maybe later you'll have some time to update first post of thread with FAQs

I will get this done tomorrow evening.

[cryptocyprus]

2.  If you choose to leave the bitcoins with them then thereafter the amount of bitcoins in that address are adjusted so as to always have a value equivalent to the euros you deposited.

What?

So they sell you bitcoins and hold the private key for you, so they can increase or decrease the amount if the value fluctuates.
Potential to make A LOT of money when the value of BTC rises. Bankrupcy when Bitcoin fails. Interesting bet.
Not sure why you would go for that as a customer, but hey... if they can find people that do - good for them.

I wish them good luck.

No we don't hold the only private key, this is detailed throughout the thread and in the prospectus.

[BunworthBanshee]

This really is looking great, My first tin foil hat post looks so silly now ,

But thank you for answering as I am now a proud owner of a few hundred shares,

[cryptocyprus]

This really is looking great, My first tin foil hat post looks so silly now ,

But thank you for answering as I am now a proud owner of a few hundred shares,

There was always going to be one I will be releasing more and more information over the coming weeks and months.

[Herp]

Your business plan is interesting but:

What incentive will a Cypriot have to deposit money with you when he can just deposit Euros into a real bank where deposits are insured up to 100,000 euros by the state? If he/she owns more than 100,000 euros, can just open multiple 100,000 accounts at several banks to benefit from the insurance.

Keep in mind that no Cypriot holding less than 100,000 euros lost any money so far in those bail-ins. Only those who held more than 100,000 lost money.

It would be more interesting to try and get customers for non-pegged deposits. Those might prove more attractive. Have your bitcoins linked directly to a debit/credit card for daily purchases. I can see the attraction of that but can't see the attraction of your pegged model. Sure, I can see some very wealthy people scared of bail-ins going down this path, but don't see many casual retail customers doing it. Those who know and like Bitcoin will just pick the Bitcoin deposit, not the peg and those who don't know about Bitcoin will just use a regular bank with deposit insurance on <100k euro accounts.