[HAVELOCK] Mintspare (MS) Bitcoin Electronic Trade-in Service - Official Thread

[NanoAkron]

Well Lynn, I'm glad they've got a sleek website because that certainly makes or breaks a company in this day and age...

But seriously - 100% risk for 20% rewards (max)...I'll pass.

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[lynn_402]

Nope you're wrong. It's 20% equity (equity is the term used to describe ownership) with 40% of revenue (at the discretion of the owner). So investors fund the start-up at 100% of required capital and own 20 % of the company and MAY get 40 % of the revenue (if and when there ever is any after paying his friends salaries etc.)

These terms do not give potential investors an opportunity to share in the upside of the company - even if the venture were successful.

Indeed your criticism if valid, and thanks for clarifying. Giving at least 30% would be more fair. But I thought it was a shame, to see successful fund-raisers on kickstarter who give 0% equity, then seeing this great concept getting blasted for giving 20%.

There's another reason one would profit for investing with Mintspare: it will give visibility to Bitcoin, and allow newcomers to receive and hold their first coins, or to spend them in the Bitcoin-economy which would be even better, thus raising the value of all of our digital assets.

Well Lynn, I'm glad they've got a sleek website because that certainly makes or breaks a company in this day and age...

When coupled with a useful concept, a dedicated and ambitious team, and the necessary funds, I believe it does, yes.

[EduardoDeCastro]

...But I thought it was a shame, to see successful fund-raisers on kickstarter who give 0% equity, then seeing this great concept getting blasted for giving 20%.

That's because people *donate* money to Kickstarter projects.  Just like they do to a bum, Salvation Army or the guy playing slide dobro on the subway.  The Florida d00d passes this off as an investment.  If he billed this absurdity as performance art, fewer people would laugh.  As it stands, he's selling illegal, unregistered securities through an unlicenced Panamanian exchange.

Sure, I know you see unregulated exchanges as your ninja way of sticking it to Da Man.  Sadly, each time someone (predictably) loses an eye, bitcoin "investors" turn staunchly law-abiding, quoting the same chapter and verse they laughed at just days ago.
...only to learn that nanny state is neither eager nor able to make their fuckups all better.  The press points fingers and laughs.

There's another reason one would profit for investing with Mintspare: it will give visibility to Bitcoin, and ...

Bitcoin has enough scams and dumbass ventures.  We don't need another idiot child losing/making off with your coin.
I'm not here with misguided altruistic designs to save you from yourself.  I am doing this for purely selfish reasons.  The media paints us with broad strokes; if i don't want rats scurrying in front of my house, i have to make sure my neighbor isn't breeding them next door.
thx

[zevtiefenbach]

...But I thought it was a shame, to see successful fund-raisers on kickstarter who give 0% equity, then seeing this great concept getting blasted for giving 20%.

That's because people *donate* money to Kickstarter projects.  Just like they do to a bum, Salvation Army or the guy playing slide dobro on the subway.  The Florida d00d passes this off as an investment.  If he billed this absurdity as performance art, fewer people would laugh.  

exactly. this is the sort of "prospectus" or "business plan" that you take to your rich uncle and hope that he funds because it looks like you might finally be turning your life around. this is not an investment opportunity to take to the public-at-large.

my personal mandate here is to try and create some financial literacy so that the btc economy can have more credibility more investors and consumers alike.

my hope would be that people would eventually come to the market with fair deals for investors because the community of investors demands it because they are knowledgable, read the materials and understand the parameters.

i think the case here with mintspare should be used as an example of how not to approach the market . . . with a poor and wildly optimistic business plan that offers terrible terms to any potential investors. . . whether the idea (or website) are good or not, is irrelevant. the terms (and business plan) are lousy making it a very poor investment. . .

[DavidBAL]

Think this is overvalued, but I went ahead and picked up 300 shares.. First day of trading probably will not be pretty but who knows. This is a killer idea though, at a 50% discount I would pick up a lot more! I wish you the best of luck with the project- definitely will use this service personally, and as stated elsewhere I think this is a perfect tool to get people their first Bitcoin. I print a magazine (yBitcoin) and would be interested in seeing how we could partner and if we could help your (our!) business grow.

/db

[zevtiefenbach]

Think this is overvalued, but I went ahead and picked up 300 shares.. First day of trading probably will not be pretty but who knows.

/db

this is what i don't understand, if you know the equity is overvalued and will likely tank when it hits the open market, why buy? why not invest in lottery tickets or something . . .

[DavidBAL]

Think this is overvalued, but I went ahead and picked up 300 shares.. First day of trading probably will not be pretty but who knows.

/db

this is what i don't understand, if you know the equity is overvalued and will likely tank when it hits the open market, why buy? why not invest in lottery tickets or something . . .

Because when I have a passive interest in seeing something succeed, I have no problem investing a bitcoin or two.. If I'm doing something purely to make money, I wait until the math makes sense... Here I like the idea, so I want to contribute. I probably wont make money but who knows.. when the math makes sense I can invest at a much greater scale.

[freedomno1]

Think this is overvalued, but I went ahead and picked up 300 shares.. First day of trading probably will not be pretty but who knows.

/db

this is what i don't understand, if you know the equity is overvalued and will likely tank when it hits the open market, why buy? why not invest in lottery tickets or something . . .

Because when I have a passive interest in seeing something succeed, I have no problem investing a bitcoin or two.. If I'm doing something purely to make money, I wait until the math makes sense... Here I like the idea, so I want to contribute. I probably wont make money but who knows.. when the math makes sense I can invest at a much greater scale.

That's a fair investment a lot of people made a killing off the Facebook IPO after the panic selling and holding on long, and a lot of individuals will make  money off Twitter holding long and getting positions in now.
That said it's far from a Bitcoin return or loss but the premise does hold at a certain valuation they do become valuable to sideliners where the market determines X to be is the unknown.

[mainline]

Think this is overvalued, but I went ahead and picked up 300 shares.. First day of trading probably will not be pretty but who knows.

/db

this is what i don't understand, if you know the equity is overvalued and will likely tank when it hits the open market, why buy? why not invest in lottery tickets or something . . .

Because when I have a passive interest in seeing something succeed, I have no problem investing a bitcoin or two.. If I'm doing something purely to make money,...

What you're doing has nothing to do with the word "investing" as it applies to finance.  Investing is an act of committing money or capital to an endeavor with the expectation of obtaining an additional income or profit.

Your type of "investing" is one of the things that makes bitcoin securities so attractive to scammers and bottom feeders.
"If we do it in bitcoin, we don't even need to convince the marks they'll make money!"

If you must feed the rats, do it with fiat.

[MPOE-PR]

What you're doing has nothing to do with the word "investing" as it applies to finance.  Investing is an act of committing money or capital to an endeavor with the expectation of obtaining an additional income or profit.

Your type of "investing" is one of the things that makes bitcoin securities so attractive to scammers and bottom feeders.
"If we do it in bitcoin, we don't even need to convince the marks they'll make money!"

If you must feed the rats, do it with fiat.

Whoa, sane noob of the month award right here.

[DavidBAL]

Think this is overvalued, but I went ahead and picked up 300 shares.. First day of trading probably will not be pretty but who knows.

/db

this is what i don't understand, if you know the equity is overvalued and will likely tank when it hits the open market, why buy? why not invest in lottery tickets or something . . .

Because when I have a passive interest in seeing something succeed, I have no problem investing a bitcoin or two.. If I'm doing something purely to make money,...

What you're doing has nothing to do with the word "investing" as it applies to finance.  Investing is an act of committing money or capital to an endeavor with the expectation of obtaining an additional income or profit.

Your type of "investing" is one of the things that makes bitcoin securities so attractive to scammers and bottom feeders.
"If we do it in bitcoin, we don't even need to convince the marks they'll make money!"

If you must feed the rats, do it with fiat.

Profits are not only measured in fiat. Yikes, didn't mean to offend anyone with my investment! I know this is the internet and more specifically BTF.. but it does seem a bit uncouth to accuse a company of being a scam when the only crime you see is a high internal valuation… I meet over zealous entrepreneurs every day, doesn't mean they're a scam or that I don't want to see their venture succeed.   

[MintSpare]

        https://i.imgur.com/YDG4i5L.png

Mintspare Update - Friday, February 14th

Open Beta
We’re excited to announce that we’ll be moving from a closed beta format to an open beta format starting today. Visitors will be able to browse and explore more of the website without actually making an account although they will not have access to many features without creating an account.

Website Link: www.mintspare.com

Lowering Costs
Our costs have been and will be significantly lower than projected, in part due to significantly budgeted furniture & computer equipment, opting out of a cargo truck and instead using an employee vehicle, and paying some employees fully with my personal equity instead of salaries.

Security
Over the past week, we’ve been working on setting up an affordable yet effective cold storage system. The majority of bitcoins in our positions are already placed in cold storage. We’ve set up strict security implementations/protocols at our location. We are now trying to take it to the next tier of cold storage security and implement multiple levels of redundancy.

Dividends
Dividends will be held back until our official launch in March. They will then be paid on a weekly basis.

Marketing
Small marketing initiatives have begun while the site is still in beta.  Last Friday Mintspare’s post on r/Bitcoin made it to the front page and garnered us many new users.  In addition to this
we are proud to announce that we also had a mention in Business Insider!

Here are the links:

http://www.businessinsider.com/reddit-bitcoin-apple-protest-2014-2

http://www.reddit.com/r/Bitcoin/comments/1x6yhu/with_all_the_iphone_smashing_going_on/

Marketing is extremely important to our goal of building Mintspare’s brand. Once we launch at the beginning of March, we’ll be implementing many simultaneous advertising campaigns with different sites from within the bitcoin community among other initiatives which we will announce at a later time.

Inside Bitcoin - New York City
Galfry Puechavy, the founder and CEO of Mintspare will be attending one of the largest expected Bitcoin conferences in the world to date: Inside Bitcoin. He will be speaking on behalf of Mintspare at the April 8, 10:45 am - 11:30 am Panel: Creating and Funding the Next 100 Great Bitcoin Companies  

Work at Mintspare
We are growing rapidly and are constantly looking for talented people who are passionate about bitcoin! Part-time or full-time, feel free to send us your resume at: Jobs@Mintspare.com

[Korbman]

Open Beta
We’re excited to announce that we’ll be moving from a closed beta format to an open beta format starting today. Visitors will be able to browse and explore more of the website without actually making an account although they will not have access to many features without creating an account.

Cool beans, I'll have to check it out.

EDIT: I'd like one infinity bitcoins please!

[twentyseventy]

Still offering Infinity BTC?

[MintSpare]

Hey Korbman,

Thanks for the bug report! We sent that off to our developer. We should be completely bug free once the beta closes and we launch officially in March!

If you find any other bugs don't hesitate to email us at report@mintspare.com.

You'll be able to redeem your infinity bitcoins shortly! 

[zevtiefenbach]

Lowering Costs
Our costs have been and will be significantly lower than projected, in part due to significantly budgeted furniture & computer equipment, opting out of a cargo truck and instead using an employee vehicle, and paying some employees fully with my personal equity instead of salaries.

that's nice. how's the projected gross revenue of 71.43 BTC for February looking? still thinking you're going to be generating around $50,000 USD in sales?

[MintSpare]

that's nice. how's the projected gross revenue of 71.43 BTC for February looking? still thinking you're going to be generating around $50,000 USD in sales?

We'll be releasing financial figures shortly after our official launch in March and every month thereafter. They will be provided as an update on both HavelockInvestments.com and this thread.

[zevtiefenbach]

that's nice. how's the projected gross revenue of 71.43 BTC for February looking? still thinking you're going to be generating around $50,000 USD in sales?

We'll be releasing financial figures shortly after our official launch in March and every month thereafter. They will be provided as an update on both HavelockInvestments.com and this thread.

okay. but why release a "guidance" that trumpets lower costs without mentioning that it's highly unlikely that you'll meet your projected revenue? Boasting that you're reducing costs is kinda irrelevant (and misleading) if the income that you projected isn't going to come. . .

[Korbman]

Thanks for the bug report! We sent that off to our developer. We should be completely bug free once the beta closes and we launch officially in March!

Sounds good, and happy to help. I'll play around on the site some more and email you guys directly if I come across any other issues.

[MintSpare]

        
https://i.imgur.com/YDG4i5L.png

Mintspare Update - Friday, February 28th

Key Acquisitions
We recently hired two additional individuals, one full time developer and one part time content marketing expert, both with extensive knowledge in their domain.

Site Development
The site has undergone a large amount of work in page loading efficiency and bug hunting.

Official Launch
Mintspare will be officially launching to the public on March 3rd, with all beta restrictions removed, including the activation of the referral system.

Traffic Sources
We will have three main traffic sources for the month of March.

1. Nationwide PR release
2.  Advertising on Bitcoin related sites
3. Content Marketing (Mintspare Blog)

Blog
Mintspare will have a blog that will focus on constantly releasing interesting news about Mintspare as well as the Bitcoin world.

Inside Bitcoin
If you're interested in meeting or hearing Galfry (Founder & CEO of Mintspare) speak at the Inside Bitcoin convention center in NYC on April 8th, we strongly recommend buying your ticket/hotel now.

Here is the registration page: http://www.mediabistro.com/insidebitcoins/new-york/?c=ibcadflex

Here is more information on the topic of discussion:

https://i.imgur.com/86S6QE0.png