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Author Topic: DPS - Don't Panic Sell - BitFunder Passtrough-ish Service  (Read 2570 times)
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pedrog
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October 10, 2013, 02:54:22 PM
 #1

You don't have a driver's license? No passport or credit cards? No problem, I'll manage your BitFunder portfolio!

Conditions:

  • I'll keep your stock as long as you want, collect dividends, sell when you want, will send profits and dividends to an address at your choice.
  • This service is not intended to break any law or rule, this is directed to people who cannot have their account verified because they don't have the required documentation. I will have to manage at least one of my friends portfolio because he has no driver's license, credit cards or even passport, these are not trivial stuff to have.
  • There's a limited number of people I'll be able to work with, this is not intended to be a massive operation, just a gentleman's agreement between me and a few people.
  • I wont be able to do daytrading, unless it is really profitable to pay my time.
  • Buying new stock is also an option on the table.

So, if you have no other option besides selling at a great loss, consider this service, further information via PM.


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1508393398
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bobboooiie
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October 10, 2013, 05:14:52 PM
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First of all, who would trust you? Second by doing that you would be the new "bitfunder" and you would be "breaking" the law instead of the site.
pedrog
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October 10, 2013, 06:03:30 PM
 #3

First of all, who would trust you? Second by doing that you would be the new "bitfunder" and you would be "breaking" the law instead of the site.

Sorry, what law am I breaking?

I actually spoke with a friend of mine, who is a lawyer, and he assured me that there's no problem with this.

If someone doesn't want to trust me, just sell the shares, I'm just offering a different option...

timewaster
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October 11, 2013, 04:05:42 AM
 #4

You haven't actually specified you are not offering this service to those in the United States (your intentions to not break rules are not enough), making you a Foreign Broker-Dealer. Therefore you are already breaking the law by not registering with the SEC.

http://www.sec.gov/divisions/marketreg/bdguide.htm
MoneyMorpheus
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October 11, 2013, 04:31:05 AM
 #5

You haven't actually specified you are not offering this service to those in the United States (your intentions to not break rules are not enough), making you a Foreign Broker-Dealer. Therefore you are already breaking the law by not registering with the SEC.

http://www.sec.gov/divisions/marketreg/bdguide.htm


ROFL, the states law have no power outside the states, when using a foreign service it works under foreign laws, which in a lot of countries they don't even exist for online services. Even if your gob knew who and where he was, it would be legally impossible to accuse him of anything. The real question would be if something can actually happen to you by hiring his services...

I'm not saying people should trust their shares to him though, that is your call, I just find it funny to read how you think the states control the world...

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timewaster
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October 11, 2013, 04:48:07 AM
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Quote
the states law have no power outside the states
Tell that to Julian Assange or Kim Dotcom.

Quote
I just find it funny to read how you think the states control the world...
They try to at least.  Wink

Lots of places have regulations surrounding securities brokering, it's likely they're breaking laws in their own country also.

But they're a small operation and probably won't be caught. Law breaking is a non-issue compared to trust.
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October 11, 2013, 09:37:41 AM
 #7

You haven't actually specified you are not offering this service to those in the United States (your intentions to not break rules are not enough), making you a Foreign Broker-Dealer. Therefore you are already breaking the law by not registering with the SEC.

http://www.sec.gov/divisions/marketreg/bdguide.htm


ROFL, the states law have no power outside the states, when using a foreign service it works under foreign laws, which in a lot of countries they don't even exist for online services. Even if your gob knew who and where he was, it would be legally impossible to accuse him of anything. The real question would be if something can actually happen to you by hiring his services...

I'm not saying people should trust their shares to him though, that is your call, I just find it funny to read how you think the states control the world...

Well not like I would expect someone who starts sentence with "rofl" to know any better but you must be blind. There were at least hundreds examples where US did exactly that. For example http://en.wikipedia.org/wiki/Black_Friday_%282011%29 .
MoneyMorpheus
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October 11, 2013, 12:18:57 PM
 #8

Well the difference with kim dotcom was that he had an us-based website and servers. Therefor he legally operated in the states.

There are a hundred examples where they just had to sit and watch, have you heard of the pirate bay? It was based in Sweden, they tried to take it down a lot of times and failed over and over...

Best altcoin exchange: https://vircurex.com/welcome/index?referral_id=241-35101
https://bter.com/signup/121418 | You may run into issues some time, but support will take care of you threw qq in chinese hours
1EGoA5LMV391Psf8ZHShTkTd3tQ6URKQEp
pedrog
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October 11, 2013, 01:11:03 PM
 #9

You haven't actually specified you are not offering this service to those in the United States (your intentions to not break rules are not enough), making you a Foreign Broker-Dealer. Therefore you are already breaking the law by not registering with the SEC.

http://www.sec.gov/divisions/marketreg/bdguide.htm

I assure you I'm following my country's law, and I'm not a broker.

Quote
the states law have no power outside the states
Tell that to Julian Assange or Kim Dotcom.

Quote
I just find it funny to read how you think the states control the world...
They try to at least.  Wink

Lots of places have regulations surrounding securities brokering, it's likely they're breaking laws in their own country also.

But they're a small operation and probably won't be caught. Law breaking is a non-issue compared to trust.

Really?!

You are comparing me managing a few shares to Julian Assange and Kim Dotcom, seriously?

Well not like I would expect someone who starts sentence with "rofl" to know any better but you must be blind. There were at least hundreds examples where US did exactly that. For example http://en.wikipedia.org/wiki/Black_Friday_%282011%29 .

Again, Pokerstars? Full Tilt?!

And people are bringing up US law, I'm not targeting US citizens, I just offered to hold shares for people who cannot get verified, I'm going to do that for a friend of mine, who is my neighbor!

I'm not sending money to any foreign country, I'll send the coins to the blockchain, who has the private keys I don't care!

US citizens should follow their country's laws, as I do with mines!

timewaster
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October 11, 2013, 09:49:53 PM
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Quote
You are comparing me managing a few shares to Julian Assange and Kim Dotcom, seriously?
Just offering examples of US laws having power outside the US. In response to the excerpt I quoted.
Like I already said, you're brokerage service likely won't be big enough for law enforcement to go after.

Quote
... In addition, foreign broker-dealers that, from outside of the United States, induce or attempt to induce securities transactions by any person in the United States, or that use the means or instrumentalities of interstate commerce of the United States for this purpose, also must register. This includes the use of the internet to offer securities, solicit securities transactions, or advertise investment services to U.S. persons. See Securities Exchange Act Release No. 39779 (March 23, 1998) http://www.sec.gov/rules/interp/33-7516.htm.
How hard is it to add "Service not available to US citizens" to your conditions?
pedrog
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October 11, 2013, 10:13:46 PM
 #11

Quote
... In addition, foreign broker-dealers that, from outside of the United States, induce or attempt to induce securities transactions by any person in the United States, or that use the means or instrumentalities of interstate commerce of the United States for this purpose, also must register. This includes the use of the internet to offer securities, solicit securities transactions, or advertise investment services to U.S. persons. See Securities Exchange Act Release No. 39779 (March 23, 1998) http://www.sec.gov/rules/interp/33-7516.htm.
How hard is it to add "Service not available to US citizens" to your conditions?

I'm not a company or even an independent broker, I don't have to saw anything, plus I don't know every jurisdiction and treaty in the world, I may not be able to do business with people in Iran, North Korea, or Burkina Faso, and I don't care, I'm not starting a business here!

timewaster
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October 14, 2013, 02:30:28 AM
 #12

Verified to 'you', right? How else could you verify multiple accounts with one identity?

I believe pedrog is offering their service to US people also, maybe they should advertise in your thread.
pedrog
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October 14, 2013, 02:37:21 AM
 #13

Verified to 'you', right? How else could you verify multiple accounts with one identity?

I believe pedrog is offering their service to US people also, maybe they should advertise in your thread.

If you want another wording, I'll buy the entire portfolio, but it will be paid with the dividends and at a price decide in the future based on the selling price of the shares!

Good enough?

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October 28, 2013, 07:38:13 PM
 #14

I am now a WeExchange Verified user. Smiley


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October 28, 2013, 08:48:47 PM
 #15

This is pointless since Bitfunder is going down the drain anyway.
pedrog
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October 28, 2013, 09:10:13 PM
 #16

This is pointless since Bitfunder is going down the drain anyway.

If that happens we will still own the securities and then it will be the issuers job list them in another exchange or pass dividends in some other way.

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October 29, 2013, 02:28:40 AM
 #17

I'm from China and waiting my account to be verified on weex, I hold a lot of shares on bitfunder and don't want the stock prices to plummet, so if anyone would trust me I can hold the shares for them, just an option too.

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October 29, 2013, 12:52:50 PM
 #18

US arms do not reach to certain places in the world...

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October 31, 2013, 08:49:21 AM
 #19

Still waiting some of my documents to be verified on Weex...

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