Cryptsy Fee Shares

[roozifus]

BTC's recent price increase isn't doing them any favors either.

Actually, the price of BTC should be irrelevant. People buy shares with BTC to end up with more BTC than they started with. Fiat doesn't come into this equation. If people aren't buying the shares, that simply means they don't have faith in Cryptsy.

I agree this should actually work in cryptsy's favor. A big part of why I bought some shares was because (unlike my investments into altcoins) if btc keeps going higher I'll get that back in the dividends anyway.

This of course assumes the dividends + any resale of the stock is greater than what I paid for them

But the fact that cryptsy is able and willing to support so many coins makes me think they'll do well in the medium-long term. If they actually manage to pull off the USD <-> crypto thing that will be even better.

[IamNotSure]

Anyone knows why cryptsy stock skyrocketted to 0.4 today ? 1/4 of monthly volume in the last 24h according to crypto:stocks stats. Some insider news about USD/BTC launch ?

BTC's recent price increase isn't doing them any favors either.

About this, I think what he means is that since the dividend is paid in BTC in relation to the transaction fees (and thus volume), the fees in BTC would lower with a high BTC, and increase with a cheap BTC. A bit like in gambling economy where the wagered bets decrease (and then the house advantage) when BTC rises.

But anyway I think cryptsy has proven reliable and service is really improving so I guess it'll be a nice long term investment.

PS: sry for the bump

[stas]

Shares are overvalued

Cryptsy is worth 10-20% of what MCX is worth max...
They are trying to cash in on the Trading Culture that drives MCX.

Let's make it 15% = $12,500,000 x 0.15 = $1.8 million

Even that is high because it's all about momentum...
But let's hope the entire Alt Space keep growing.

Also, these exchanges need to name their Principals...
Or someone needs to force the issue legally.

uhu... where is your MCXnow now?

[roozifus]

Anyone knows why cryptsy stock skyrocketted to 0.4 today ? 1/4 of monthly volume in the last 24h according to crypto:stocks stats. Some insider news about USD/BTC launch ?

I was wondering about that and I hope so.

Then again, there wasn't that many shares for sale between 0.2 and 0.4 so it might just be that a couple of people have bought at a similar time.

But I agree the spike in volume is interesting.

[NeonRonin]

I own 112 shares of Cryptsy Fee Shares, that I bought at 0.05 when BTC and the equivalent USD value was about $20 per share.  My total investment was 5.6 BTC and in USD at the time was $2240. 

Each week, though sometimes a little late, I have received a dividend payment that ranges from 0.0003 per share to 0.0008 based on 2.3 to 4.9 BTC in Fee Shares.  In total I have earned 0.58 BTC from this investment since October.  At current weighted average rate of BTC, ($825.70) this is roughly $478.91 USD.

If I were able to sell all my shares at current trading values, it would return 39.2 BTC or roughly $32,341.57 USD.

What gets interesting is if BigVern's projections come true of 10-20x growth once Fiat trading becomes available.  Let's just say at 2.3 * 10, would be 23 BTC a week or about 0.32 BTC a week with my current shares, at today's BTC weighted value that is $267.61 a week.

Now, if you look at the Winklevoss and Second Market ETFs, they are predicting BTC to hit values of $18,500 to $38,500 one day.   I am then looking at a possibility of $5920 to $12,320 a week. (Who would have thought BTC at the start of last year would hit a $1,200?  It's not impossible that it may one day reach those levels).

I think the current price is probably undervalued, and people reacted to the offering emotionally instead of logically looking at the numbers and potential.

You also have to look at that Cryptsy and Bigvern have filed registerings that are public record, posted office addresses, and have been working their ass off.  MCXNow on the other hand hasn't done any of those things, is an anonymous person that suddenly shutdown the site after taking in a huge amount of BTC during their fee share offering...

[IamNotSure]

I own 112 shares of Cryptsy Fee Shares, that I bought at 0.05 when BTC and the equivalent USD value was about $20 per share.  My total investment was 5.6 BTC and in USD at the time was $2240. 

Each week, though sometimes a little late, I have received a dividend payment that ranges from 0.0003 per share to 0.0008 based on 2.3 to 4.9 BTC in Fee Shares.  In total I have earned 0.58 BTC from this investment since October.  At current weighted average rate of BTC, ($825.70) this is roughly $478.91 USD.

If I were able to sell all my shares at current trading values, it would return 39.2 BTC or roughly $32,341.57 USD.

What gets interesting is if BigVern's projections come true of 10-20x growth once Fiat trading becomes available.  Let's just say at 2.3 * 10, would be 23 BTC a week or about 0.32 BTC a week with my current shares, at today's BTC weighted value that is $267.61 a week.

Now, if you look at the Winklevoss and Second Market ETFs, they are predicting BTC to hit values of $18,500 to $38,500 one day.   I am then looking at a possibility of $5920 to $12,320 a week. (Who would have thought BTC at the start of last year would hit a $1,200?  It's not impossible that it may one day reach those levels).

I think the current price is probably undervalued, and people reacted to the offering emotionally instead of logically looking at the numbers and potential.

You also have to look at that Cryptsy and Bigvern have filed registerings that are public record, posted office addresses, and have been working their ass off.  MCXNow on the other hand hasn't done any of those things, is an anonymous person that suddenly shutdown the site after taking in a huge amount of BTC during their fee share offering...

Excellent summary. Personally I've invested around 0.1 because I saw many bugs on cryptsy due to the surge in traffic after MCX failure, but I also saw BigVern working his ass off to correct this. Actually, I was thinking that this exchange would be excellent if all the bugs were corrected, which is obviously not the case now. But every week I see improvements and soon people will realize the potential of an investment there.

I personally value cryptsy around 0.5 BTC without fiat trading. With fiat it's another story !

[IamNotSure]

Seen on crypto stocks today

On another note, going forward I will be starting to pay out based on the original per share percentage instead of a whole amount of 2%.   This is due to the fact that we will be buying back some shares soon from some individuals, which means that 2% will no longer represent the whole lot and a per share rate as originally quoted will be easier to calculate.

BigVern

This is not good news, we were getting 2% of revenue before and now we'll be getting 1,5896% according to my calculations

[NeonRonin]

Seen on crypto stocks today

On another note, going forward I will be starting to pay out based on the original per share percentage instead of a whole amount of 2%.   This is due to the fact that we will be buying back some shares soon from some individuals, which means that 2% will no longer represent the whole lot and a per share rate as originally quoted will be easier to calculate.

BigVern

This is not good news, we were getting 2% of revenue before and now we'll be getting 1,5896% according to my calculations

BigVern has actually been providing a little bit of a bonus from when he pulled the outstanding shares from the market.  In the offering he clearly states that each fee share is worth 0.0002% of the earnings and he also made it publicly known that he would do a share buy back, which would not be fair to him to have to continue offering 2% of the revenues on his reclaimed shares.

Personally, unless he is offering a substantial premium over the current market price, I will not be selling mine back.  The real money in this is sometime in the future (and BigVern knows this) as the cryptocurrency market grows and value of BTC increases.

He's making $100k+ a week now and will easily be able to meet Money Transmission funding requirements in a few more weeks at this rate if he hasn't already.  He's no dummy on wanting to retain more of his profits.

[IamNotSure]

BigVern has actually been providing a little bit of a bonus from when he pulled the outstanding shares from the market.  In the offering he clearly states that each fee share is worth 0.0002% of the earnings and he also made it publicly known that he would do a share buy back, which would not be fair to him to have to continue offering 2% of the revenues on his reclaimed shares.

Personally, unless he is offering a substantial premium over the current market price, I will not be selling mine back.  The real money in this is sometime in the future (and BigVern knows this) as the cryptocurrency market grows and value of BTC increases.

He's making $100k+ a week now and will easily be able to meet Money Transmission funding requirements in a few more weeks at this rate if he hasn't already.  He's no dummy on wanting to retain more of his profits.

I totally agree, I wasn't complaining. It is still bad news that the bonus end. Since the IPO wasn't a full success (less than 10% of the shares sold) he's maybe thinking of going close to 100% privately owned, and maybe IPO later when he'll need funds. Now he probably doesn't more cash to develop.

I won't sell either without a nice premium.

I hope that he uses this money to hire skilled programmers to fix his trading engine (colliding orders, lag resulting in negative balances) and his deposit/withdraw engine, and some PR and support to calm the angry (and sometimes stupid) users that start a FUD thread here every week.

[stas]

I own 112 shares of Cryptsy Fee Shares, that I bought at 0.05 when BTC and the equivalent USD value was about $20 per share.  My total investment was 5.6 BTC and in USD at the time was $2240. 

Each week, though sometimes a little late, I have received a dividend payment that ranges from 0.0003 per share to 0.0008 based on 2.3 to 4.9 BTC in Fee Shares.  In total I have earned 0.58 BTC from this investment since October.  At current weighted average rate of BTC, ($825.70) this is roughly $478.91 USD.

If I were able to sell all my shares at current trading values, it would return 39.2 BTC or roughly $32,341.57 USD.

What gets interesting is if BigVern's projections come true of 10-20x growth once Fiat trading becomes available.  Let's just say at 2.3 * 10, would be 23 BTC a week or about 0.32 BTC a week with my current shares, at today's BTC weighted value that is $267.61 a week.

Now, if you look at the Winklevoss and Second Market ETFs, they are predicting BTC to hit values of $18,500 to $38,500 one day.   I am then looking at a possibility of $5920 to $12,320 a week. (Who would have thought BTC at the start of last year would hit a $1,200?  It's not impossible that it may one day reach those levels).

I think the current price is probably undervalued, and people reacted to the offering emotionally instead of logically looking at the numbers and potential.

You also have to look at that Cryptsy and Bigvern have filed registerings that are public record, posted office addresses, and have been working their ass off.  MCXNow on the other hand hasn't done any of those things, is an anonymous person that suddenly shutdown the site after taking in a huge amount of BTC during their fee share offering...

nice analysis. I hope it plays out that way:)

[IamNotSure]

Have you seen the volume on Doge since Friday ?

Next dividend will be HUGE ! I wonder why the price doesn't reflect that, but IMO it will soon retrace toward 0.3

[rolo]

Have you seen the volume on Doge since Friday ?

Next dividend will be HUGE ! I wonder why the price doesn't reflect that, but IMO it will soon retrace toward 0.3

Came in here to post this - Cryptsy must be looking to do very well out of the current DOGE craze

[MineNerd]

Nice dividend payment this week on Cryptsy fee shares!

[gnomicide]

Have there been any updates on the licensing progress lately? There don't seem to be any announcements on the stock's page or on official channels.

Had I known of cryptostocks back when this was in IPO, I would have invested heavily based on Cryptsy itself. Now its main appeal is in the possibility of the MSB licensing going through, as the current dividends are pretty low (~7% APR) considering the risk/volatility.

[Chellger]

I don't know, but I wonder why the price of the stocks is falling so heavyly. There does not seem to be a real reason for that.

[IamNotSure]

I don't know, but I wonder why the price of the stocks is falling so heavyly. There does not seem to be a real reason for that.

I think that's because there is some sort of boycott from DOGE community... and since it represents a big share of crypsty profits, that explains the drop in the dividends.

[lynn_402]

I don't know, but I wonder why the price of the stocks is falling so heavyly. There does not seem to be a real reason for that.

I think that's because there is some sort of boycott from DOGE community... and since it represents a big share of crypsty profits, that explains the drop in the dividends.

I think it's mostly because the price was based on speculation, for in case Cryptsy manages to add the possibility to buy BTC with USD. Share holders are beginning to realise this may take a lot of time to be added, so they are getting impatient. Plus I'm sure some people sell because they want BTC for some of the promising new projects on Cryptostock (Coinfarm, BitcoinQuebec).

[Chellger]

I like the "security" of Cryptsy. Cryptsy is one major exchange and according to cryptocoincharts.info it is the 6th biggest exchange. That seems somewhat "secure" to me. I guess I'll buy more stocks but I wonder how low it will get. Seems that there is no limit down atm.

[IamNotSure]

I like the "security" of Cryptsy. Cryptsy is one major exchange and according to cryptocoincharts.info it is the 6th biggest exchange. That seems somewhat "secure" to me. I guess I'll buy more stocks but I wonder how low it will get. Seems that there is no limit down atm.

With 2 BTC distributed each week among the 7931 public shareholders, it give a annual yield of 0.01311 / 10% with a share price of 0.1311 BTC

IDK if I should jump in again, I like this stock but the ROI is so low, and no real growth on the horizon. Crypsty is quite secure, has always delivered, but I don't like the fees on cryptostocks and all the junk they list... Crypsty on Havelock would be a no brainer for me.

[winxp11]

I don't understand why the volume of cryptsy increased twice or more, and dividends on shares IPO, decreased by more than twice?

When introduce USD? Already past month, and on this site next week next week, all the time