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

[cheaptar]

<assbot> AMAZING COMPANY!

[notme]

As a potential investor, I was wondering if you would consider doing recycling of electronics.  You could recycle purchased items that a beyond repair, as well as accept bulk electronics by the pound for recycling.  I know I have tons of old shit that has to be more valuable than garpage dump filler.  At the very least, there is bound to be some gold in them.

In addition, what about GPUs?  I'm sure there are lots of used GPUs in the bitcoin community that should have decent resale value.

[MintSpare]

As a potential investor, I was wondering if you would consider doing recycling of electronics.  You could recycle purchased items that a beyond repair, as well as accept bulk electronics by the pound for recycling.  I know I have tons of old shit that has to be more valuable than garpage dump filler.  At the very least, there is bound to be some gold in them.

In addition, what about GPUs?  I'm sure there are lots of used GPUs in the bitcoin community that should have decent resale value.

Hello notme,

Recycling items that are beyond repair for their precious metals wouldn't be cost effective. Since we're paying for shipping on all electronics sent to MintSpare, we'd be losing money on every shipment. That's not including having to either a)  Pay for shipping to a company who retrieves precious metals from electronics or b) Purchase machinery that would allow us to retrieve the precious metals ourselves. We'll be steering clear of this for the foreseeable future.

We won't be revealing any information on potential expansion plans at this time but would like to assure you that we're hard at work growing revenue streams for MintSpare in the near future.

Hope this was informative!

[railzand]

Hope this was informative!

Yes it really was. I am so grateful to all the contibutors to this thread as I have learned a huge amount about business and how not to do it, how to set up a scam and where and when to just leave.
op could learn sth from these guys https://bitcointalk.org/index.php?topic=412586.0;topicseen

[bromide]

Have a free bump. OP!
Chin up, for every idiotic idea, there's an idiot who buys into it.
By way of thanks for my kind words of encouragement, mind telling me how much Havelock charges for the month+ of fees for this IPO?  Does it count as a month of trading?  Did you have to pay in advance, or can you IPO on credit?

[MintSpare]

Progress Update 1/17/2014

The website's fundamentals are all complete, the website itself is fully functional. There are bugs here and there which we'll be squashing on the daily. Our site developer as well as our head of security are hard at work implementing security features throughout the website for the next 10 days or so. In the meantime we're testing out dummy orders to further iron out bugs before our beta launches. Marketing is also a key focus that we're constantly working on. We're aiming to have ads published on many bitcoin related sites, which will give us an ad exposure of roughly 1,000,000 unique visitor views for the first month of launch.

Summarized:

-Bug squashing
-Security implementation
-Testing orders
-Marketing

We're aiming to launch on a Monday, either January 27th or February 3rd.

[Branny]

What are your expected ad costs on those 1000k viewers?

[MintSpare]

What are your expected ad costs on those 1000k viewers?

Hello Branny,

We've already locked in advertising partnerships for 3 websites, giving us a total of 55k unique visitors viewing our ad per day. We should ramp it up to around 100k a day right before launch. The pricing for these 3 partnerships is 1.35 BTC/month. We were able to achieve these rates (as well as surpassing our initial goal) through 'door to door' manual requests for webmasters to create long term advertising partnerships with Mintspare. Our marketing budget for our one month Beta launch (starting either January 27th or February 3rd) is 5-6 BTC.

As an additional note, I (Galfry) will  be present during the Bitcoin Conference in Miami this weekend. I would be more than happy to discuss with any potential investors as well as provide private tours of the Mintspare office/warehouse. If you're just looking to say hi, I love saying hi too!

[twentyseventy]

What is your contingency plan if you do not sell the 50,000 shares required to make the IPO successful?

[MintSpare]

What is your contingency plan if you do not sell the 50,000 shares required to make the IPO successful?

Hello twentyseventy,

It would come down to a combination of the following: private investors, scaled down operation, and some of my personal funds.

[Bobsurplus]

What is your contingency plan if you do not sell the 50,000 shares required to make the IPO successful?

Hello twentyseventy,

It would come down to a combination of the following: private investors, scaled down operation, and some of my personal funds.

You don't even have money for a haircut.. (see pic earlier) what do you mean "some of my personal funds"

[NanoAkron]

What is your contingency plan if you do not sell the 50,000 shares required to make the IPO successful?

Hello twentyseventy,

It would come down to a combination of the following: private investors, scaled down operation, and some of my personal funds.

Why not put in some of your personal funds now, rather than relying entirely on individual investors (who you're screwing with a tiny % ownership/share).

[siarhei]

I saw their ad banner at the bottom of bitcoindifficulty.com

And, actually, from the first sight i wanted to spend some 1 BTC and get 200 shares to invest for future... until I opened this thread...

My conclusion: better to refrain from such "investments".

[Bobsurplus]

LOLOLOL, I cant believe this is still going to happen.. Cant wait till you waste all the btc on electronics and are sitting with goods you wont be able to flip quick enough to cover the next big swing upwards in price.

Godspeed!

[zevtiefenbach]

I saw their ad banner at the bottom of bitcoindifficulty.com

And, actually, from the first sight i wanted to spend some 1 BTC and get 200 shares to invest for future... until I opened this thread...

My conclusion: better to refrain from such "investments".

interesting that they are spending their money promoting the IPO and not on the launch of their service (which was supposed to start yesterday?).

it seems that the priority here is to fleece as many people into buying into the IPO as possible and not to operate an effective business. there is still no functional website and none of the meaningful financial questions from this thread have been answered.

[MintSpare]

I saw their ad banner at the bottom of bitcoindifficulty.com

And, actually, from the first sight i wanted to spend some 1 BTC and get 200 shares to invest for future... until I opened this thread...

My conclusion: better to refrain from such "investments".

interesting that they are spending their money promoting the IPO and not on the launch of their service (which was supposed to start yesterday?).

it seems that the priority here is to fleece as many people into buying into the IPO as possible and not to operate an effective business. there is still no functional website and none of the meaningful financial questions from this thread have been answered.

A small amount of funds are being used to promote Mintspare at its launch. In bitcoindifficulty.com's case, we had to close a deal a few days in advance in order to lock a contract in during our launch. In order to not waste advertising space during the time we would rent the advertising spot without Mintspare being launched, we've decided to link it to our IPO. Our intentions are not to use funds to promote the IPO.

We're planning on launching by February 3rd at the latest. All functionalities are in place. The security audit is fully complete. At this point we're just ironing out bugs. Creating a website from the ground up does allow for greater flexibility on one hand, but is prone to more bugs on the other. We're hard at work fixing them.

We will make a launch announcement both on here and as an update via our asset page on Havelock Investments.

[Bobsurplus]

I saw their ad banner at the bottom of bitcoindifficulty.com

And, actually, from the first sight i wanted to spend some 1 BTC and get 200 shares to invest for future... until I opened this thread...

My conclusion: better to refrain from such "investments".

interesting that they are spending their money promoting the IPO and not on the launch of their service (which was supposed to start yesterday?).

it seems that the priority here is to fleece as many people into buying into the IPO as possible and not to operate an effective business. there is still no functional website and none of the meaningful financial questions from this thread have been answered.

A small amount of funds are being used to promote Mintspare at its launch. In bitcoindifficulty.com's case, we had to close a deal a few days in advance in order to lock a contract in during our launch. In order to not waste advertising space during the time we would rent the advertising spot without Mintspare being launched, we've decided to link it to our IPO. Our intentions are not to use funds to promote the IPO.

We're planning on launching by February 3rd at the latest. All functionalities are in place. The security audit is fully complete. At this point we're just ironing out bugs. Creating a website from the ground up does allow for greater flexibility on one hand, but is prone to more bugs on the other. We're hard at work fixing them.

We will make a launch announcement both on here and as an update via our asset page on Havelock Investments.

Shut up with all your nonsense. This is just a scam to take peoples money and turn it in to nothing.


[size=100pt]SCAM[/size]

[zevtiefenbach]

i wonder if they'll answer me on these questions:

1) What are the current revenue/expense projections for January/February?
2) If you don't raise the full IPO amount, how will this change your spending projections?

since you're on-line now maybe you'll answer these questions?

in your IPO you projected to spend 102.14 BTC in January. Has this happened? If not, could you provide a revised revenue/expense projection?

[MintSpare]

i wonder if they'll answer me on these questions:

1) What are the current revenue/expense projections for January/February?
2) If you don't raise the full IPO amount, how will this change your spending projections?

since you're on-line now maybe you'll answer these questions?

in your IPO you projected to spend 102.14 BTC in January. Has this happened? If not, could you provide a revised revenue/expense projection?

There was an error in our projections as they assumed we would launch our beta at the beginning of January, whereas it was supposed to be at the beginning of February.

Our expenses are expected to be less than 40 BTC for January, the majority of this being filled by the creation of the website. We'll provide a revised revenue/expense projection plan once we launch the website. This is because we want to provide accurate revised projections, on top of not steering away from our current focus: launching.

[zevtiefenbach]

There was an error in our projections as they assumed we would launch our beta at the beginning of January, whereas it was supposed to be at the beginning of February.

so not only is the IPO a lousy deal for investors it's also incorrect . . . . but you're still collecting IPO funds?

really, this is just another indication of how ridiculous it is to come to market for funds for a project that you don't have up and running yet.