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Author Topic: What will be the first bitcoin revenue-based company w traditional FIAT listing?  (Read 793 times)
statdude
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September 26, 2013, 01:01:27 AM
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Why hasn't this happened yet?

Most bitcoin-exchange listings are backed by real corporations.

Why hasn't anyone gone for a listing on a traditional exchange (not necessarily in the US - but even OTC/Pink Sheets?)
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Jumpy
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September 26, 2013, 04:54:45 AM
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Adding an additional currency in your stock releases severely complicates accounting for both currencies and is nearly impossible to do transparently enough to be viable. Think your way through opening a lemonade stand that was started with 0.08 BTC and 15 USD of different investors money. After a week, you need to payout... which currency is your dividend based in? How does the other investor feel about that?

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September 26, 2013, 05:15:42 AM
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Adding an additional currency in your stock releases severely complicates accounting for both currencies and is nearly impossible to do transparently enough to be viable. Think your way through opening a lemonade stand that was started with 0.08 BTC and 15 USD of different investors money. After a week, you need to payout... which currency is your dividend based in? How does the other investor feel about that?


I mean the stock trades in 100% fiat - and pays only dividends as often as traditional stocks do?

I don't think the btc/fiat part is too hard to account for
redbeans2012
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September 26, 2013, 05:29:22 AM
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I remember Mark the owner of gox in an interview said they planned on going public.
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September 26, 2013, 05:45:51 AM
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Unfortunately, even being a business invested via fiat and operating in BTC adds unneeded risk to the arrangement.

In this case, I agree that the accounting is not very difficult, but you would be tying the success of your stock directly to exchange rates that could easily dwarf reasonable margins for a company.

Also, given the relatively low market cap of BTC, there aren't a lot of businesses that even have the capitalization requirements for a fiat listing.

MPOE-PR
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September 26, 2013, 02:50:59 PM
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Most bitcoin-exchange listings are backed by real corporations.

Not at all.

Why hasn't anyone gone for a listing on a traditional exchange (not necessarily in the US - but even OTC/Pink Sheets?)

Why would a bitcoin-based company want to list on a fiat-based exchange?

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
MikeyVeez
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September 26, 2013, 03:54:01 PM
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Simple answer fees and regulations.
twentyseventy
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September 26, 2013, 04:52:09 PM
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We still need to get a BTC-pegged ETF or fund on the market first
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September 26, 2013, 05:08:04 PM
 #9

Every exchange as minimum requirements to be listed.
Just for example, NASDAQ:  1,250,000 publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company, while minimum bid must be $4 USD and needs at least 3 market makers.
Then there are requirements for pre tax earnings, cash flow, time in operation etc. There are no Co's in BTC world, that come even close to those Smiley

OTC aka "pink sheet" stocks (so called unlisted securities) have way lower requirements but still, none of the BTC operations qualify.
Look up Rule 3a51-1 aka Definition of "Penny Stock" (1934 act)

Accounting will be no big deal. BTC can be handled as any foreign currency and rules for that are clear.
If you conduct 0 business in BTC, it will be even easier - BTC becomes an investment and a part of your Co's assets on the balance sheet.

.... day when BTC becomes fully regulated and every exchange operator get fist-f'ed by their local government, BTC has lost the war for financial freedom (at least on some levels).

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
statdude
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September 27, 2013, 07:28:01 PM
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Every exchange as minimum requirements to be listed.
Just for example, NASDAQ:  1,250,000 publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company, while minimum bid must be $4 USD and needs at least 3 market makers.
Then there are requirements for pre tax earnings, cash flow, time in operation etc. There are no Co's in BTC world, that come even close to those Smiley

OTC aka "pink sheet" stocks (so called unlisted securities) have way lower requirements but still, none of the BTC operations qualify.
Look up Rule 3a51-1 aka Definition of "Penny Stock" (1934 act)

Accounting will be no big deal. BTC can be handled as any foreign currency and rules for that are clear.
If you conduct 0 business in BTC, it will be even easier - BTC becomes an investment and a part of your Co's assets on the balance sheet.

.... day when BTC becomes fully regulated and every exchange operator get fist-f'ed by their local government, BTC has lost the war for financial freedom (at least on some levels).

So what are the requirements for OTC reporting and capital (Pink sheets)?

Seems to me these trade similarly to btc exchanges anyway - and are OK with the US Gov't.

Seems like the obvious solution here.

statdude
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September 27, 2013, 07:28:33 PM
 #11

We still need to get a BTC-pegged ETF or fund on the market first

Done. Check out Secondmarket's offering out this week!
twentyseventy
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September 27, 2013, 07:33:24 PM
 #12

We still need to get a BTC-pegged ETF or fund on the market first

Done. Check out Secondmarket's offering out this week!

Yep, saw that! It's not quite a wide-market ETF, but it's a start!
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