[CANNABIT] Investment Details - Announcement & Discussion Thread #cannabit

[SebastianJu]

I don't have many shares but I just finished the form. If I were to get more shares would I need to still buy them on Cryptostocks and fill out the form again with the new number of shares?

No need to do it again since the issuer knows then already the bitcoin address you want it attached to and you were verified by email i guess. So the issuer only needs to check the newest list sent from cryptostocks and will know that something changed and he can adapt.

Again a reminder to shareholders that filled the form. Since there are still 4 users who filled the form, put their bitcoin address and email address in there but did NOT check the email address's inbox. There is an email in the email address inbox that you use for cryptostocks. Check it and answer to it to verify that the real owner of these shares claimed them. That's important!

[nwfella]

Since it seems to be the case that some shareholders did not read their email they registered on the form and with which they are registered at cryptostocks, here a notice:

In order to get fully verified you need to check that email address, maybe check spamfolder when you don't see an email, and follow the instructions.

This is to protect shareholders against scammers who might know a shareholders email address and maybe even the amount of shares they own. Email must get verified too. And in order that no scammer can fake an email coming from another shareholders email address you need to check the instructions. It's actually very easy but important.

Thanks for all your efforts around getting this long overdue transfer to happen.  The truth is that CryptoStocks has literally been a nightmare since the day it opened from a technical perspective (and don't even get me started about the garbage (for the most part) listed there).  Anyhoo, thanks again SebastianJu

[SebastianJu]

Yes, Cryptostocks is and was a nightmare. First, how can someone get the idea to implement 2FA but then put into the account 8 or 9 override codes? I'm pretty sure the website doesn't even have a bruteforce protection so bruteforcing an accounts 2fa sounds 8 to 9 times easier. What an idea...

Then the shareholder list. Not containing a bitcoin address and not containing all shareholders.

Whatever. Hopefully we will be out there soon.

At the moment we have 6 claims that filled the form but did not confirm their email address by checking the inbox of the cryptostocks email and answering the email i sent there. Well, one shareholder told me that he did not receive that email and that it isn't in spamfolder too. I checked the list and we have a large number of gmail addresses there. So it might be that me, sending so many nearly the same emails to gmail, was blocked as a spammer. Fortunately i sent an email to a gmail shareholder yesterday and he received it. So i guess i will repeat the email sending for the emails that are not yet confirmed and/or claimed.

I guess 2 emails each 31 minutes will be enough to not trigger the spam protection? I hope so. Maybe anyone has experience with that?

[SebastianJu]

It seems to work going through the email list slowly. Hope this keeps on working so that every shareholder will get his email in the inbox.

Some people only now changed the option to let the issuer see the email address, my list is not as actual yet but i will note your claim down and when i receive the newest list i will know the claim is real. But your email address can be verified already before that.

Slowly going forward with the claims and verifications.

[SebastianJu]

Yesterday i ended sending all the emails again to those who might have get blocked my previous email. It turned out to some more shareholders verifying.

I checked out cryptostocks and it seems that cannabit finally stopped trading to not change the shares now anymore. So the issuer acted a bit. I will see if i can get more info in some hours when the other shareholder comes online, other timezone, to get more news. Since it's practically sure that the shareholder must have reached the issuer so that this change happened.

On the homepage it says, i only have read that now, that they want to repair the email problem with another third party email system. But it's an old news so probably nothing will happen anymore.

So far i wait for a newer list since some shares were claimed but these shareholders were anonymous in the old list i have.

When these 2 claims are true then we have 18 confirmed investors now, 5 more have claimed shares but did not verify their email address because they didn't check the inbox of their cryptostocks email address. So if you missed that then please do that then we might have 23 confirmed investors.

Of the number of shares that are owned by shareholders we have 93,87% confirmed already. That is why we try, since some days, to get ahold of the issuer to lead him through the steps to create the security on xcp.

I hope this happens soon since we already have the first of the next month and i don't want to get the issuer the idea that he could save another month of divs. But the other shareholder tries all the time.

[SebastianJu]

It seems the Trade Stop is not active anymore. Maybe i misinterpreted what it means. Though when it was active then no trade happened afterwards. So it is no sign of no trades happening but probably it is a setting the issuer has to set. Don't know why it was taken out. The shareholder in contact with the issuer did not say that he reached him by phone. So i wonder what happened.

Anyway, the shareholder is trying to reach him every day, sending him sms and trying to make an appointment to create the security. No luck yet but i hope it will happen soon.

Regarding the Verification. We have still 4 shareholders who claimed their shares in the form but did not verify their email address by answering the email i sent to the email address they use at cryptostocks. Please fix that! The shares in question are of the amounts: 6, 397, 14 and 159 So still not a small part of the public shares.

And we have still a couple thousand shares that are anonymous, means the shareholder did not enable that the issuer can see their email address.

[jeezy]

Whats the current status? Are we ready to move forward and get this finalized?

[SebastianJu]

Whats the current status? Are we ready to move forward and get this finalized?

Sorry, no movement as of now. The issuer did react though no security was created yet. I hope to hear more on monday from the shareholder who speaks with him.

I assure you that I do what I think has to be done. I don't want to say much more now.

Regarding the collection and verification of shareholders, we still have three shareholders who filled the form but did NOT verify their email. Those shareholders own 397, 14 and 6 shares. Please verify when you read that.

No new claims happened in the last days and since we only confirmed a minority of the shareholders i guess most gave up on cannabit totally or even gave up on bitcoin and left.

It is not a problem since we have confirmed nearly 94% of all confirmable shares.

What we wait for is that the issuer gets in contact with the shareholder and they set the thing up. Then spread divs.

We are still behind this and I will stay behind this.

[SebastianJu]

Mods: 17 days after my last post... I can't believe feeling the fear I have to write this because of the undefined rules.




Hey guys, some of you might notice that there are shares appearing on your counterparty wallet address. The strange name is cannabit when you check the info.

Unfortunately no dividend yet. The small amount of satoshies are no payment, they are the minimum amount of bitcoins needed on an address to have shares on it since the miners would not transfer a bitcoin amount lower than that. They were sent from the issuer when he sent the shares.

We work on pushing the issuer to issue the funds and really... it's so tiring to do this. Well, I'm no one to give up even when your hopes are broken daily. We have found all the doxx needed to go after him when he does not change his ways. And the legal route is open too.

[unixs_26]

these day things are not 100% clear which is why we don't want to hold onto it for too long if we are not going to execute a plan soon.

[Marc De Mesel]

But like i said, Poloniex is not one of the choices because we would have to trust a third centralized party again. And NXT was checked out already. It is pretty complicated and it has it's learning curve to understand it. And then you will have your difficulties with the dividends since the issuer would have to need to change to nxt, which is another step of work and direct payments in bitcoin are not so easy too. That's why nxt was thrown away as an option.

We will bug the issuer to go through with counterparty. Check it out, it is VERY easy. At the end you only need a bitcoin private key and thats all you need to hold shares and get dividends. Really nice concept.

When you choose Counterparty you will see that trading is not practical there and is happening at poloniex, so many shares end up being stored there and you have again counterparty risk.

Nxt is far from perfect but it is the best and biggest "decentralized exchange", where not only the shares are issued, but also exchanged and stored. This because the exchange itself is practical to use, you don't need to transfer your shares to poloniex, and so the highest trading volume of the issued assets ends up also being on NXT itself.

[SebastianJu]

But like i said, Poloniex is not one of the choices because we would have to trust a third centralized party again. And NXT was checked out already. It is pretty complicated and it has it's learning curve to understand it. And then you will have your difficulties with the dividends since the issuer would have to need to change to nxt, which is another step of work and direct payments in bitcoin are not so easy too. That's why nxt was thrown away as an option.

We will bug the issuer to go through with counterparty. Check it out, it is VERY easy. At the end you only need a bitcoin private key and thats all you need to hold shares and get dividends. Really nice concept.

When you choose Counterparty you will see that trading is not practical there and is happening at poloniex, so many shares end up being stored there and you have again counterparty risk.

Nxt is far from perfect but it is the best and biggest "decentralized exchange", where not only the shares are issued, but also exchanged and stored. This because the exchange itself is practical to use, you don't need to transfer your shares to poloniex, and so the highest trading volume of the issued assets ends up also being on NXT itself.

Well, I found out now too that it is hard to trade on counterparty, at least against bitcoins. You need to use special wallets though that means other traders need too. So a real orderbook will not come into existence that way. Though one can sell or buy for xcp, but then you would need to watch a additional price.

I know centralized exchanges work but surely I would not want to hold shares worth a lot on such exchange. The lessons teached on that topic are way too explicit.

NXT was tried... but there is the problem that you can trade them for btc but paying bitcoins out as divs is practically not possible. At the end the issuer would have to buy nxt which is not suitable.

Well, guess for now at counterparty I have to miss the orderbook and trade shares directly.

[Marc De Mesel]

NXT was tried... but there is the problem that you can trade them for btc but paying bitcoins out as divs is practically not possible. At the end the issuer would have to buy nxt which is not suitable.

Well, guess for now at counterparty I have to miss the orderbook and trade shares directly.

Shapeshift has recently been integrated in nxt client so you can simply buy nxt directly in the client with btc and do everything you want to do, like pay dividends. Others can simply convert the nxt in btc, also directly in the client. 

Hope you give it another chance for next project maybe.

 

[SebastianJu]

NXT was tried... but there is the problem that you can trade them for btc but paying bitcoins out as divs is practically not possible. At the end the issuer would have to buy nxt which is not suitable.

Well, guess for now at counterparty I have to miss the orderbook and trade shares directly.

Shapeshift has recently been integrated in nxt client so you can simply buy nxt directly in the client with btc and do everything you want to do, like pay dividends. Others can simply convert the nxt in btc, also directly in the client. 

Hope you give it another chance for next project maybe.

Well, this is not my project. I surely would have not handled the money of others this way. I would have given support and would have asked if important decisions are to be made. I'm on here only in the unhealthy position of the one trying to move the issuer to do things. Well, he is very slow. Of 7 days a week we can be lucky when he moves one at least. 

Anyway, shapeshift doesn't sound like a very good solution. It would eat fees to turn it into one direction and into the other direction. The issuer wants to pay in bitcoin. He would have to exchange bitcoins, pay fee, lose the orderbook spread and so on. And the shareholders would have to do the same again... It would be costly.

At least counterparty has no such problems with dividends. Hopefully things get implemented into counterwallet that will make it possible to build a correct btc orderbook.

Regarding NXT, I checked it out carefully... and others did too. Only thing is that it has quite a learning curve. For example making an address secure and and and. Though counterwallet is as intuitive as it can be. I like that really and it was refreshing after having to deal with nxt.

Well, I guess both platforms are still in development and good things can be awaited in the future from both.

[Marc De Mesel]

NXT was tried... but there is the problem that you can trade them for btc but paying bitcoins out as divs is practically not possible. At the end the issuer would have to buy nxt which is not suitable.

Well, guess for now at counterparty I have to miss the orderbook and trade shares directly.

Shapeshift has recently been integrated in nxt client so you can simply buy nxt directly in the client with btc and do everything you want to do, like pay dividends. Others can simply convert the nxt in btc, also directly in the client. 

Hope you give it another chance for next project maybe.

Well, this is not my project. I surely would have not handled the money of others this way. I would have given support and would have asked if important decisions are to be made. I'm on here only in the unhealthy position of the one trying to move the issuer to do things. Well, he is very slow. Of 7 days a week we can be lucky when he moves one at least. 

Anyway, shapeshift doesn't sound like a very good solution. It would eat fees to turn it into one direction and into the other direction. The issuer wants to pay in bitcoin. He would have to exchange bitcoins, pay fee, lose the orderbook spread and so on. And the shareholders would have to do the same again... It would be costly.

At least counterparty has no such problems with dividends. Hopefully things get implemented into counterwallet that will make it possible to build a correct btc orderbook.

Regarding NXT, I checked it out carefully... and others did too. Only thing is that it has quite a learning curve. For example making an address secure and and and. Though counterwallet is as intuitive as it can be. I like that really and it was refreshing after having to deal with nxt.

Well, I guess both platforms are still in development and good things can be awaited in the future from both.

Thanks so much for your feedback Sebastian. Really appreciate you explain to me why you chose Counterparty over Nxt Asset Exchange.

[apenzl]

Hi Sebastien,  

A reply from Nxtforum.org:

Paying divs in BTC is very possible with NXT assets. Asset issuer just has to convert BTC to SuperBTC and send divs with  a plugin https://nxtforum.org/nxt-plugins/(plugin)-dividend-payout-plugin-(via-normal-transactions)-for-nrs/.

[edit] To trade, hodl (or shuffle decentralised and transfer back to any BTC wallet, btw) BTC on the Nxt blockchain > http://multigateway.org

[SebastianJu]

Hi Sebastien,  

A reply from Nxtforum.org:

Paying divs in BTC is very possible with NXT assets. Asset issuer just has to convert BTC to SuperBTC and send divs with  a plugin https://nxtforum.org/nxt-plugins/(plugin)-dividend-payout-plugin-(via-normal-transactions)-for-nrs/.

[edit] To trade (or shuffle, btw) BTC on the Nxt blockchain > http://multigateway.org

Sounds like superBTC is only an asset. Another layer to trust then I guess.

I know it is theoretical possible but not out of the box. It would have brought trouble because it would have meant for the issuer that he could pay some in btc, those who took the work to set things up on them, but the rest can't receive btc so he would have to pay nxt. Which would mean more work than simply sending nxt at all.

[apenzl]

True that.

We'll have to wait for Nxt 2.0 to avoid paying any tx fees in NXT.

[SebastianJu]

For the shareholders... it seems cannabit is up and running on counterparty. The share has a strange name though but it has the real name in comment.

A small div was sent, the issuer claimed he could not get the amount he wanted from his exchanger. He will try to gather the remaining coins in the next days. Let's hope this will happen... soon.

Regarding trading on counterparty. It is very hard to trade shares against bitcoin but against xcp works. Though for some reason there is a timeout of 7 days. Need to ask if that can be avoided.

When creating an order in xcp you might check http://coinmarketcap.com/currencies/counterparty/#markets to see the current value.

Hope this will move on it's own from now. Next step remaining divs, step 2 monthly divs coming in regularly... well, one can dream, right?

[ZyclonRacerX]

This is like the classic "Right. Give me the money and wait right here, I'll go get your shit form my guy & be right back."
Only you've been waiting since 2013