[alcurEX] Cryptocurrency Exchange

[theomoplatapus]

What motivated your decision to switch from Belize to Estonia?  What problems/opportunities arose?  Also, do you have any sort of projections for monthly profit in the near or short term?  If we were to follow in the footsteps of poloniex, with a daily trading volume of 193 btc, that comes out to a monthly revenue of 11.58 btc at a 0.2% trading fee.  Is this in the ballpark of what you expect?

Also, just my input:  I have a feeling users are willing to tolerate higher trading fees if they are given the opportunity to participate in the profit in some way, like mcxNow does with its fee shares and interests on deposits (which I think are a fantastic idea).  I think maybe something along these lines is in your guys' plan with the other 25% of public shares?

Sorry for the delay. We have been busy with microCoin and the new alcurEX leverage.
http://alcurex.info/alcurex-leverage/

Due to Finnish regulation we will need a real employee who handles the flow of money within the country the company is officially located.

With this in mind we would much prefer having employees located in Estonia as it is very close to Finland, is protected but EU legislation and is still relatively loose in regulation.

Company revenue would still be tax-free as long as the money stays within the company's accounts. Employee pays are of course taxed accordingly.


Poloniex is a good example for profit estimates, but with the addition of alcurEX leverage the revenue could increase by 5-10x.

This estimate comes from the assumption that people who use the leverage will most likely make more fast trades for small profit.

And because people can now trade with a higher capital than what they actually have the exchange and its shareholders will earn fee profits as if the volume was 5-10x larger.

We also expect this function to bring more investors to the site as many exchanges do not have such a function.

Sounds good, thanks for the reply.  I've done a little reading up on Estonia and it does seem like a nice place to do business.

[halibit]

What motivated your decision to switch from Belize to Estonia?  What problems/opportunities arose?  Also, do you have any sort of projections for monthly profit in the near or short term?  If we were to follow in the footsteps of poloniex, with a daily trading volume of 193 btc, that comes out to a monthly revenue of 11.58 btc at a 0.2% trading fee.  Is this in the ballpark of what you expect?

Also, just my input:  I have a feeling users are willing to tolerate higher trading fees if they are given the opportunity to participate in the profit in some way, like mcxNow does with its fee shares and interests on deposits (which I think are a fantastic idea).  I think maybe something along these lines is in your guys' plan with the other 25% of public shares?

Sorry for the delay. We have been busy with microCoin and the new alcurEX leverage.
http://alcurex.info/alcurex-leverage/

Due to Finnish regulation we will need a real employee who handles the flow of money within the country the company is officially located.

With this in mind we would much prefer having employees located in Estonia as it is very close to Finland, is protected but EU legislation and is still relatively loose in regulation.

Company revenue would still be tax-free as long as the money stays within the company's accounts. Employee pays are of course taxed accordingly.


Poloniex is a good example for profit estimates, but with the addition of alcurEX leverage the revenue could increase by 5-10x.

This estimate comes from the assumption that people who use the leverage will most likely make more fast trades for small profit.

And because people can now trade with a higher capital than what they actually have the exchange and its shareholders will earn fee profits as if the volume was 5-10x larger.

We also expect this function to bring more investors to the site as many exchanges do not have such a function.

Sounds good, thanks for the reply.  I've done a little reading up on Estonia and it does seem like a nice place to do business.

Me too.
It is not 0 taxation country, but there is no taxes untill company money is withdrawed out of, example salaries.
It's great for company health because it's more profitable to reinvest free capital than take it out.

Where I live, company need to pay taxes no matter are you use profits of not.
Example in my country, if I buy products on the stock, I need to pay taxes because government looks like I still have this profit in those products.

In long run, Estonia may be better than tax haven countries, because company need to keep booking etc.
Nordic EU is also more safe for us, because there is no possible to make business like damm gox doing right now.

Do anyone know what Estonia government think about digital currencies?
I know Finland is like it's ok and Russian almost banned it, but Estonia, I dont know nothing.

[MCR]

Here is alcurex video where you can see the project is running.

http://alcurex.info/download/alcurex_demo.wmv
or
http://alcurex.info/layouts-mockup/

There is still alot work to do, but we have many coders working with that.
- Some pages and links.
- Information, pictures and text
- wallets
- Chart modify
- Server migration
- security
- Auditing
- Launch

[eoJ]

You say in your OP that shareholders will have voting rights. Surely this is meaningless, as you'll hold the majority of shares and control the board of directors, your vote will always win over the votes of the people investing?

[thy]

You say in your OP that shareholders will have voting rights. Surely this is meaningless, as you'll hold the majority of shares and control the board of directors, your vote will always win over the votes of the people investing?

Only publically hold shares have voting rights on Cryptostocks, the shares still held by the issuer don't have voting rights. So if an issuer of a stock put up a vote for something, then the investors in that stock control 100% of the voting power.

[MCR]

Greetings from the alcurEX dev team.

We are currently in the process of adding the first cryptocurrencies to alcurEX and will start votes on what to add soon.
You can vote with your shares on Cryptostocks.

The IPO will end March 10th in any case so you can rely on that being the last day for purchasing shares.

The exchange should not take long to launch, but some delays may occur due to testing and developing security.
It is very important that alcurEX is as secure as possible, even if it means slightly slower withdraws.


Feel free to ask or comment. I will try my best to answer your questions.

[MCR]

A little glimpse of the future projects of alcurEX.

We will start working on these after leverage is fully functional and USD markets have been added.

[novaboy2k]

Greetings from the alcurEX dev team.

We are currently in the process of adding the first cryptocurrencies to alcurEX and will start votes on what to add soon.
You can vote with your shares on Cryptostocks.

The IPO will end March 10th in any case so you can rely on that being the last day for purchasing shares.

The exchange should not take long to launch, but some delays may occur due to testing and developing security.
It is very important that alcurEX is as secure as possible, even if it means slightly slower withdraws.


Feel free to ask or comment. I will try my best to answer your questions.

All sounds very interesting. Will the exchange release be this month do you think?

[MCR]

Just a friendly reminder that the IPO ends in under 3 hours and this is the last chance to buy alcurEX shares.

The IPO ends at exactly 0:00 (GMT +0), which is a little under 3 hours from now.

Cryptostocks link:
https://cryptostocks.com/securities/90

[bitwho]

Even though you were asked multiple times in the other thread and PMs you never gave us a time frame. On a sunday afternoon you do one post and warn us we have 3 hrs ...  


this was not a fair warning. I placed a buy order at @0.001btc i would appriciate it if you could just sell us the shares. It was not a fair warning.

[scryptographer]

Even though you were asked multiple times in the other thread and PMs you never gave us a time frame. On a sunday afternoon you do one post and warn us we have 3 hrs ...  


this was not a fair warning. I placed a buy order at @0.001btc i would appriciate it if you could just sell us the shares. It was not a fair warning.

It was posted both in this thread and on CryptoStocks on the 24th of February that the IPO would close today.

[bitwho]

today is not today everywhere in the world. its march 9 right now for me and few more places in the world. and it will still be march 9 for 3 more hours.

[MCR]

The IPO has ended! alcurEX shares are no longer available for purchase from us.

Congratulations and thank you to all co-owners! You now own 25% of alcurEX and are entitled to 50% of all profit alcurEX exchange produces.

70,980 shares were sold in total to the public, which means that the total amount of shares to ever exist is 283,920 shares.

All current public shareholders will still get 50% of profit, even though the total amount public shareholders own is 25%.
The other 25% is being saved for plans in the far future and the remaining 50% is for alcurEX employees.

The exchange will be released this month and a more accurate date will be announced soon.

We will call votes on the first cryptocurrencies to add on the exchange tomorrow.
All shareholders can vote with their shares at Cryptostocks once voting starts.

The main currencies on the exchange are:
BTC
LTC
XPM
MRC
USD (Will be added as soon as possible)

[bitwho]

The IPO has ended! alcurEX shares are no longer available for purchase from us.

Congratulations and thank you to all co-owners! You now own 25% of alcurEX and are entitled to 50% of all profit alcurEX exchange produces.

70,980 shares were sold in total to the public, which means that the total amount of shares to ever exist is 283,920 shares.

All current public shareholders will still get 50% of profit, even though the total amount public shareholders own is 25%.
The other 25% is being saved for plans in the far future and the remaining 50% is for alcurEX employees.

The exchange will be released this month and a more accurate date will be announced soon.

We will call votes on the first cryptocurrencies to add on the exchange tomorrow.
All shareholders can vote with their shares at Cryptostocks once voting starts.

The main currencies on the exchange are:
BTC
LTC
XPM
MRC
USD (Will be added as soon as possible)

this i my last attempt. You have never, ever, mentioned a time of the end of the IPO. Only March 10.

my time now is 9:23 PM march 9th 2014. Some of us its is not march 10th yet. At 4 30 Pm earlier today you said we had 3 hours left for the IPO. For the very first time you said MArch 10     00:00GM time.    This means you close the IPO before March 10. You actually closed it 1 hrs later but never the less. you did not even reach the march 10 fully. You should have indicated you were going to close at the end of march 9th. Almost everyone that missed it it was becuase they thought they hade more then Zero- seconds timefram in March 10.  Again. you never even give a zoning time. It is still March 9th now. it is not even 10PM now.


It is un-acceptible how short this warning was. After you made us wait for this extension.

If you want me to explain why did it matter for us to know the exact time then i will here:
This was an open buy with a deadline. The dead line makes it interesting to invest last minute. because the less people invest the more shares % i would receive. therefore smart investors will wait the last minute to invest. if they all invested at the begging, then all these buy orders would appeal to some of the people that had not made up mind. They will see all the buy in and would start to see that this is indeed a good investment. I know you want people to buy a lot , but to me as an investors, even thjough i believe in your company and i want to help by supporting you foundation it is primarily becuase i want to make money. more invester the less shares i get. this is not an egoistic strategy is plain statistics. We are investing to make more money. If you think i am wrong more then 10 btc buy-in was done within the last hr. i think the total bought was 45 btcs at 12 pm when i checked this morning. so who know how many bought in within those 3 hrs. needless to say. knowing the final time it would have been good.

i am sorry but i can not believe you only give us a 3 hr warning on a sunday. didnt even take into account to give us timeframe or time zone. Not only that but you announced the closing time at march 10th 00:00:00 in your timezone. So it wasnt even technically march 10. it wasnt even a full day. If you read the thread , you will see other people were confused on the deadline. Almost everyone expected some hour in March 10. not at 00:00:00. and that is only the time. no one know the timezone. for me it is still march 9th as i type. 1 hrs after you closed the IPO

I would like for you to honor me my buy in order. it is there at 0.001 btcs. You can Pm me and we can do the trade on cryptostocs. I would appreciated it for you to honor this.

This will be my final attempt to reach out and show you the unfairness of this closure.

[halibit]

The IPO has ended! alcurEX shares are no longer available for purchase from us.

Congratulations and thank you to all co-owners! You now own 25% of alcurEX and are entitled to 50% of all profit alcurEX exchange produces.

70,980 shares were sold in total to the public, which means that the total amount of shares to ever exist is 283,920 shares.

All current public shareholders will still get 50% of profit, even though the total amount public shareholders own is 25%.
The other 25% is being saved for plans in the far future and the remaining 50% is for alcurEX employees.

The exchange will be released this month and a more accurate date will be announced soon.

We will call votes on the first cryptocurrencies to add on the exchange tomorrow.
All shareholders can vote with their shares at Cryptostocks once voting starts.

The main currencies on the exchange are:
BTC
LTC
XPM
MRC
USD (Will be added as soon as possible)

this i my last attempt. You have never, ever, mentioned a time of the end of the IPO. Only March 10.

my time now is 9:23 PM march 9th 2014. Some of us its is not march 10th yet. At 4 30 Pm earlier today you said we had 3 hours left for the IPO. For the very first time you said MArch 10     00:00GM time.    This means you close the IPO before March 10. You actually closed it 1 hrs later but never the less. you did not even reach the march 10 fully. You should have indicated you were going to close at the end of march 9th. Almost everyone that missed it it was becuase they thought they hade more then Zero- seconds timefram in March 10.  Again. you never even give a zoning time. It is still March 9th now. it is not even 10PM now.


It is un-acceptible how short this warning was. After you made us wait for this extension.

If you want me to explain why did it matter for us to know the exact time then i will here:
This was an open buy with a deadline. The dead line makes it interesting to invest last minute. because the less people invest the more shares % i would receive. therefore smart investors will wait the last minute to invest. if they all invested at the begging, then it would show to people with a not made up mind that this is indeed a good investment. The more invested the less shares i get. this is not an egoistic strategy is plain statistics. We are investing to make more money. If you think i am wrong more then 10 btc buy-in was done within the last hr. i know it was 45 btcs at 12 pm when i checked this morning. so who know how many bought in within those 3 hrs. needless to say. knowing the final time it would have been good.

i am sorry but i can not believe you only give us a 3 hr warning on a sunday. didnt even take into account to give us timeframe or time zone. Not only that but you announced the closing time at march 10th 00:00:00 in your timezone. So it wasnt even technically march 10. it wasnt even a full day.

I would like for you to honor me my buy in order. it is there at 0.001 btcs. You can Pm me and we can do the trade on cryptostocs. I would appreciated it for you to honor this.

This will be my final attempt to reach out and show you the unfairness of this closure.

Sad, but when IPO is end, there is no any more what to sell.
Shares held publicly 70,980 is final amount.

[MCR]

A small status update:

The exchange is finishing nicely and will definitely be done this month.
We will be doing security testing even after it is done so that is why we have reserved the entire rest of March as a deadline.

The coin votings will start soon.
We will call for votes after we have gathered a list of potential altcoins to add.
Feel free to give submissions in this thread. It would help our process and give better chances for your coin.

We have taken a shareholder list that shows the email, user ID and amount of shares owned by each person.
This is a very convenient feature offered by Cryptostocks.
With this list we can always retrieve your shares on another platform even if something were to happen to Cryptostocks.

We will also need to destroy our extra shares.
The total amount of shares there should be is 283,920, but we will leave ourselves an amount that is convenient for dividends.
This will be either 0, which would mean we will bring half of our profit to the site and it would all be shared by public shareholders or we will keep 70,980, in which case we would bring 100% of profit to the site and share it there between us and public shareholders.
We will probably go with 0 shares, because there are other expenses that are paid from our profits.
If we were to take from the full 100%, these costs would diminish the profits of public shareholders also.

We will probably have to contact the site support again, since there seems to be no automated way of destroying shares.
We discussed this before opening the IPO and they told it was possible.

[eNtityX013]

CryptoStocks show that you are still selling shares?

[halibit]

CryptoStocks show that you are still selling shares?

Shares are not for sale as you can see on trade table and Shares held publicly amount. 70,980 is final amount.
They are just waiting for deletion. This is something cryptostock admin only can do.

[thy]

A small status update:

...

We will also need to destroy our extra shares.
The total amount of shares there should be is 283,920, but we will leave ourselves an amount that is convenient for dividends.
This will be either 0, which would mean we will bring half of our profit to the site and it would all be shared by public shareholders or we will keep 70,980, in which case we would bring 100% of profit to the site and share it there between us and public shareholders.
We will probably go with 0 shares, because there are other expenses that are paid from our profits.
If we were to take from the full 100%, these costs would diminish the profits of public shareholders also.

We will probably have to contact the site support again, since there seems to be no automated way of destroying shares.
We discussed this before opening the IPO and they told it was possible.

I guess you haven't read up on how dividend works on Cryptostocks, your not allowed to pay dividend to shares still held(or bought back) by yourself.

"Dividends
The project owner can pay dividends to the shareholders, although dividends will not be paid to shares held by the project owner."

[shango]

Can we get an update ?
March will be over in 5 days, are you going to make it to launch the exchange on time?