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Author Topic: GLBSE for dummies ?  (Read 1354 times)
Lolcust
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August 18, 2011, 10:09:16 PM
 #1

Basically, what it says on the can.

Is there a resource someone with no market experience and an idea for (very small) coin-related endeavor should familiarize himself with to avoid horrible (or just embarrassing) mistakes when attempting to use said instrument to raise some (tiny) capital ?

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Exonumia
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August 19, 2011, 04:05:05 AM
 #2

Basically, what it says on the can.

Is there a resource someone with no market experience and an idea for (very small) coin-related endeavor should familiarize himself with to avoid horrible (or just embarrassing) mistakes when attempting to use said instrument to raise some (tiny) capital ?

I'll bite... what's a GLBSE?

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August 19, 2011, 04:16:18 AM
 #3

Gigantic Lebanese Blue Socialist Elephant?
Generously Large Bowl (of ice cream) Sunday Event?
Global Librarian Blind School Educator?

In all seriousness, I believe it's "Global Bitcoin Stock Exchange"  And I'll admit that I took a look, watched a few videos about generating the contract and signing it etc, but quickly realized that I was in over my head, so I backed away very slowly without letting the website know I was frightened...

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Bitcoin Swami
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August 19, 2011, 04:26:00 AM
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Gigantic Lebanese Blue Socialist Elephant?
Generously Large Bowl (of ice cream) Sunday Event?
Global Librarian Blind School Educator?

In all seriousness, I believe it's "Global Bitcoin Stock Exchange"  And I'll admit that I took a look, watched a few videos about generating the contract and signing it etc, but quickly realized that I was in over my head, so I backed away very slowly without letting the website know I was frightened...

I felt the same way when I first went there.  I think the idea is very very exciting though.  A whole stock market thats traded in just bitcoins, where you can invest in bitcoin companies and get payed dividends from their profits.

Now instead of just trading bitcoins you can trade bitcion stocks too.  Of course the volume needs to get higher, and I really haven't seen too many companies on there that i have total faith in at the moment.

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August 19, 2011, 04:32:31 AM
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I felt the same way when I first went there.  I think the idea is very very exciting though.  A whole stock market thats traded in just bitcoins, where you can invest in bitcoin companies and get payed dividends from their profits.

Now instead of just trading bitcoins you can trade bitcion stocks too.  Of course the volume needs to get higher, and I really haven't seen too many companies on there that i have total faith in at the moment.

I totally agree, I think this is a fantastic idea (which is why I was going to attempt to put out some bitcoin stock for our company), but the process was sort of convoluted... And this is coming from a programmer...  I see the concept, I love the concept, I think they're headed in the right direction, I just think the process of getting listed needs to be refined a bit...

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August 19, 2011, 04:44:27 AM
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I felt the same way when I first went there.  I think the idea is very very exciting though.  A whole stock market thats traded in just bitcoins, where you can invest in bitcoin companies and get payed dividends from their profits.

Now instead of just trading bitcoins you can trade bitcion stocks too.  Of course the volume needs to get higher, and I really haven't seen too many companies on there that i have total faith in at the moment.

I totally agree, I think this is a fantastic idea (which is why I was going to attempt to put out some bitcoin stock for our company), but the process was sort of convoluted... And this is coming from a programmer...  I see the concept, I love the concept, I think they're headed in the right direction, I just think the process of getting listed needs to be refined a bit...

I agree too, maybe you should try again and ask nefario for help.   I'll buy a few shares. :
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August 19, 2011, 05:02:41 AM
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In all seriousness, I believe it's "Global Bitcoin Stock Exchange"  ...

Ahh thanks! This does sound very interesting!

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August 19, 2011, 05:47:16 AM
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In all seriousness, I believe it's "Global Bitcoin Stock Exchange"  ...

Ahh thanks! This does sound very interesting!



thats correct.

I am trying to find a video production person to do some intro and explanation videos.
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August 19, 2011, 05:49:33 AM
 #9

I do agree that the process isn't user friendly and it is difficult to understand the mechanics for a new user.

But I can totally understand the complexities of putting a portion of your company for sale and the need to do it right the first time.  Once you make your offer, there are no "woopsies"....you need to get it right the first time.

I too would be willing to work with a consultant to assist my listing on GLBSE.


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August 19, 2011, 01:26:59 PM
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GLBSE is an amazing idea, and looks well made from the website! However as far as I know its illegal to have anonymous investors.  So once again, great idea destroyed by (slightly) stupid laws.

(how can you really argue with the laws though, I mean otherwise money laundering would be a piece of cake to any terrorist or drug cartel in the world to anonymously invest in things)
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August 19, 2011, 01:33:33 PM
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GLBSE is an amazing idea, and looks well made from the website! However as far as I know its illegal to have anonymous investors.  So once again, great idea destroyed by (slightly) stupid laws.

(how can you really argue with the laws though, I mean otherwise money laundering would be a piece of cake to any terrorist or drug cartel in the world to anonymously invest in things)

The GLBSE doesn't follow the laws. Everything on GLBSE is based on reputation.

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August 19, 2011, 01:40:29 PM
 #12

GLBSE is an amazing idea, and looks well made from the website! However as far as I know its illegal to have anonymous investors.  So once again, great idea destroyed by (slightly) stupid laws.

(how can you really argue with the laws though, I mean otherwise money laundering would be a piece of cake to any terrorist or drug cartel in the world to anonymously invest in things)

Do laws even apply since everything is traded in this "kooky world of warcraft style funny money?"
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August 19, 2011, 06:11:10 PM
 #13

Quote
Do laws even apply since everything is traded in this "kooky world of warcraft style funny money?"

exactly.
nor do there exist any regulatory oversight commissions.

already there are a few questionable businesses listed there.
like the islamic bank, and Pandora's Bitcoin Junction's ongoing startup company.
https://bitcointalk.org/index.php?topic=31281.0

it's a neat idea,
and it's been done before in other virtual realms (second life, and eve online)
but i would strongly advise against anyone actually investing in it.

at least until it grows and actually has some background information, reporting, and ways to recompense bitcoins invested in blatantly fradulent organizations.
Meatpile
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August 20, 2011, 05:57:06 PM
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at least until it grows and actually has some background information, reporting, and ways to recompense bitcoins invested in blatantly fradulent organizations.

Come on dude that is never going to happen.

I dont know how it works in most of the world, but in Canada if someone steals your car and crashes it. You dont even get compensated. Even if they catch and arrest who did it. You get zero compensation. How would you ever get compensated from a bad investment in a shady anonymous business?
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August 20, 2011, 11:46:56 PM
 #15

i love how your signature doesn't go anywhere,
and there's no website associated to your gblse listing.

... so the value of your shares went up? big deal.
doesn't make you any more legitimate in my eyes.
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