- How do we issue shares to sell?
Shares are just entries in a ledger/database. Once you've picked your IPO-platform/exchange, they can be made to appear out of thin air.
- How do we keep track of who has how many shares?
If you use an exchange, they keep track for you. If you maintain the ledger yourself ("direct" shares, ASICMiner-style), you can use whatever you like: post-it notes, an Excel spreadsheet, a custom written application, etc...
- How do we pay dividends?
Exchanges have options to issue dividends. Load coin into the issuer-account and go for the dividend option. For direct shares, just transfer the appropriate amount of coin to the bitcoin addresses you have on file for your shareholders.
- How do we buy back shares?
Use the trading options of the exchange for regular market buybacks. For direct shares, transfer the coin to the registered bitcoin addresses of shareholders and update your ledger.
- How do we list on bitcoin stock exchanges?
Differs per exchange. There is typically a fee associated with listing and you'll have to submit a detailed prospectus.
- What is a good bitcoin stock exchange?
Bitfunder and Havelock are the primary choices. Recently, Bitfunder announced that it will no longer be available for US investors and there are concerns regarding the long-term future of the exchange. Havelock has not made any statements on the matter of US investors (other than that they're consulting a legal team).
- What are some of the pros and cons of IPO and selling shares?
Pros: Gain additional coin for business operations. This allows the business to expand or become more efficient.
Cons: Reduced profits for the current shareholders (= the owner(s)/creator(s)). Greatly increased need for transparancy and reporting.
