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Author Topic: The International Bank of Crypto | Escrow |Pre-order Shares|  (Read 1817 times)
TIBOC
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April 21, 2014, 05:38:19 PM
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Thanks for your opinions we have decided not to continue due to concerns described below and lack of interest.

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April 21, 2014, 06:15:37 PM
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Breakdown of some of the activities The International Bank of Crypto will involve ourselves in once started up

1.   Purchasing shares of mining companies
2.   Purchasing shares of exchanges
3.   Purchasing shares of other reputable companies
4.   Purchasing of Mining contracts
5.   Using Arbitrage bots to generate return
6.   Investing money into companies offering arbitrage
7.   Loaning out BTC with fair rate of interest to others
8.   Offering small amounts of seed funding to organizations we believe will generate return and push cryptocurrencies forward.


So you want to basically do what everyone else in this industry is trying to do to make money?

This would give us 5,000 BTC to invest and make it viable for us to hire real financial experts who will invest your money in the most risk averse but high return method possible.
I know this sounds crazy but our calculations indicate this is the capital needed to be able to cover the costs of our feature list and still provide great return to our shareholders.
[/b]
...

Some questions for you

What do you think?
Are there any other features you would like to see?
Will you be pre-ordering some shares?
Any views would be appreciated.


Dude, is this a joke? You're asking for $2.5 Million in BTC with no experience so you can hire financial experts to try and make money using every avenue that everyone else is using to make money in the BTC space - 90% of whom do it unsuccessfully?

1.   Purchasing shares of mining companies
     ---Any mining companies that you will be able to purchase an interest in will most likely be procurable by the public
2.   Purchasing shares of exchanges
     ---Same as above
3.   Purchasing shares of other reputable companies
     ---As vague as it gets
4.   Purchasing of Mining contracts
     ---No. Just... no.
5.   Using Arbitrage bots to generate return
     ---Unless you have some proprietary knowledge or skill, you'll be one of many in this industry. And you'll pay a lot of BTC to have someone custom code something already available on the market
6.   Investing money into companies offering arbitrage
     ---To your competitors?
7.   Loaning out BTC with fair rate of interest to others
     ---This is a notoriously difficult business to make money in due to the exchange rate risk. See Coinlenders
8.   Offering small amounts of seed funding to organizations we believe will generate return and push cryptocurrencies forward.
     ---VC Funding is great, but everyone is trying to do this - there is a large pool of VCs and a surprisingly small supply of good VC funding candidates (keyword: good)
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April 21, 2014, 06:20:12 PM
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I didn't go through your post, just the topic confirmed my suspicions:-X
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April 21, 2014, 06:25:24 PM
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...What do you think?
...

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April 21, 2014, 08:44:23 PM
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Quote
You’re probably thinking that’s great! Finally, a more transparent and reliable offering. No more getting gox’ed

Actually the exact opposite..

This sounds a lot like some 15 year old was inspired by the neobee news and thought to themself "how can I steal a lot of bitcoins?"
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April 21, 2014, 09:23:52 PM
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Dude, is this a joke? You're asking for $2.5 Million in BTC with no experience so you can hire financial experts to try and make money using every avenue that everyone else is using to make money in the BTC space - 90% of whom do it unsuccessfully?


Hello twentyseventy, we do have experince in the crypto area. Yes we are trying to make money using every avenue that everyone else is. The idea beind The International Bank of Crypto is not to offer some new trading "algorithim" etc... The purpouse is to generate the best returns by the activites described.



90% of whom do it unsuccessfully?


Yes, hence the need to hire experinced employees within the finincial industry who can execute these return generating avenues to create a return.

You disliked some revenue generating stratergies simply because everybody else could do it. E.g. Buying shares in mining companies etc. Yes, anyone can do this but it's missing the point. Buy holding even 1 share you will instantly have acess to a distributed profile of investments and specualtive instruments. Something that really can not be done with 0.05 BTC.




Actually the exact opposite..

This sounds a lot like some 15 year old was inspired by the neobee news and thought to themself "how can I steal a lot of bitcoins?"

Hello jimmothy, Thanks for replying. We have been following the neobee news and it really is shocking as to what transpired. Infact, certain features have been put in place to prevent such a disaster happening to The International Bank of Crypto.

Quote
1.   Pure transparency regarding holdings – Monthly reports
Quote
3.    No one individual allowed to spend funds greater than 10 BTC without agreement from another team member
Quote
8.   Costs over 20 BTC per month disclosed to shareholders

These three features will greatly prevent any indivual running rampant with your hard earned BTC. Your concerns regarding us stealing all your Bitcoins are slighlty unjust, afterall your pre-ordered shares must be held by a trusted escrow.


The International Bank of Crypto
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April 21, 2014, 09:43:52 PM
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Quote

1.   Pure transparency regarding holdings – Monthly reports

3.    No one individual allowed to spend funds greater than 10 BTC without agreement from another team member

8.   Costs over 20 BTC per month disclosed to shareholders

These three features will greatly prevent any indivual running rampant with your hard earned BTC. Your concerns regarding us stealing all your Bitcoins are slighlty unjust, afterall your pre-ordered shares must be held by a trusted escrow.


Ok I will ignore the fact that this is a horrible investment opportunity even if you are not a scammer.

1. If you are truly transparent what is your full name along with anyone involved?

3. Why should we trust you and your "team members"? This sounds like you just want a bunch of bitcoins you don't own to make shitty investments with no risk.

8. Any costs at all should be disclosed to shareholders. Regardless it doesn't prevent lying, deception, or theft.
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April 21, 2014, 09:45:40 PM
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@TIBOC:

1.  Post your full name.
2.  Post your experience/qualifications/LinkedIn profile.
3.  Repeat for the rest of your team.

That's the absolute minimum for your pitch to be taken seriously IRL.  Bitcoin is no different.

Edit: lol, sorry for pretty much quoting you, jimmothy Cheesy
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April 22, 2014, 06:36:51 PM
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Hello twentyseventy, we do have experince in the crypto area. Yes we are trying to make money using every avenue that everyone else is. The idea beind The International Bank of Crypto is not to offer some new trading "algorithim" etc... The purpouse is to generate the best returns by the activites described.

Besides the fact that you spelled the words 'experience', 'behind', 'algorithm', and 'purpose' wrong - Obviously the purpose is to generate good revenues from these activities. However, you demonstrate no ability to do any of these better than the general market itself besides 'hiring financial experts'.


Yes, hence the need to hire experinced employees within the finincial industry who can execute these return generating avenues to create a return.

You disliked some revenue generating stratergies simply because everybody else could do it. E.g. Buying shares in mining companies etc. Yes, anyone can do this but it's missing the point. Buy holding even 1 share you will instantly have acess to a distributed profile of investments and specualtive instruments. Something that really can not be done with 0.05 BTC.



Ignoring all spelling mistakes after my last comment; no point anymore. And, no, you don't even understand some of my issues here. What mining companies are you evening planning on investing in? There are only very few that would allow outside investment. Do you even have an idea of what kind of business you would invest in besides mining?

No, obviously this can't be done with .05 BTC, but you're soliciting millions of dollars here - you're going to need bigger investors than some bunch of people with $25 in BTC to their name. Your whole plan here is to hire some 'financial experts' to do work for you and kick back and collect the money.

That isn't how it works around here. Even IF you got fully funded, you don't even know who you would hire, do you?
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April 24, 2014, 07:52:07 AM
 #10

Quote

1.   Pure transparency regarding holdings – Monthly reports

3.    No one individual allowed to spend funds greater than 10 BTC without agreement from another team member

8.   Costs over 20 BTC per month disclosed to shareholders

These three features will greatly prevent any indivual running rampant with your hard earned BTC. Your concerns regarding us stealing all your Bitcoins are slighlty unjust, afterall your pre-ordered shares must be held by a trusted escrow.


Ok I will ignore the fact that this is a horrible investment opportunity even if you are not a scammer.

1. If you are truly transparent what is your full name along with anyone involved?

3. Why should we trust you and your "team members"? This sounds like you just want a bunch of bitcoins you don't own to make shitty investments with no risk.

8. Any costs at all should be disclosed to shareholders. Regardless it doesn't prevent lying, deception, or theft.

#3 this had me laughing. It reminds me of the FX industry with managed account offers. There are many so called companies that even get Cash for their investment venues and still crash or never make a profit.  From a very basic rule, look for verified performance history from a firm or trader before considering any investment

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April 25, 2014, 09:00:49 AM
 #11

I love your logo. I love it so much I made a new one for you, you can thank me later by sending me 100 Bitcoin as compensation:


Here's my Bitcoin address for that compensation: 19kkE4p7QkAwUDofZZs9x4ced97MobkqF1
TIBOC
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April 25, 2014, 11:34:46 PM
 #12

Thank you for your opinions. Your comments have given us great insight and we appreciate your concerns. Due to lack of any interest and your concerns we have decided not to continue with the proposed project. We are no scam but restrictions put in place prevent theft of your BTC did not satisfy you, this has been noted. We may at some point return if we feel we can address these issues to a level you as well as we would be satisfied.

- The International Bank of Crypto -
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