[Funding closed, project proceeding as planned]

[Mimex_PR]

Funding closed, project proceeding as planned

[NotLambchop]

Lol, why a new thread?  What's wrong with the old one?  https://bitcointalk.org/index.php?topic=583262.0
*Hope the pic you used on your commercial site is paid for/royalty free.
P.S:  Have your mom prof your next prospectus/pitch deck.

[MrWDunne]

This thread is the new official thread. Mimex-PR shall now be handling all inquiries. I shall be avoiding bitcointalk myself.

[NotLambchop]

Lol welcome to Bitcointalk, Mimex_PR!  Are you one of the new clean socks I suggested for MrWDunne?  Don't fib now...

[mikaeldice]

Didn't you already attempt an initial offering?  How is this new?

[IPO Magic]

New thread, with new PR. Same offering.

Hello Mimex_PR, my name is IPO Magic.  WTF were our parents thinking, amirite?
Anyhow bro, don't get used to free business tips, but i'll point you in the right direction.

While it's nice to hear that "a large proportion of shares must be sold cheaply" and "share price will rise immediately upon launch," it's also helpful to mention stuff like:

-What do these shares represent?  Stock in your firm?  "Share of the profits" (de facto bitcoin standard)?  Make something up--be creative!
-What is the total number of shares issued.
-Will you issue more?
-Pay some lip service to not selling to US persons--you're issuing unregistered securities, just like real grownups!
-Tell us your age, your previous experience in managing multinational currency exchanges, how you plan to spend your summer vocation, and when you hope to finish secondary school.

Oh, and start all your formal writing with "Sirs!"  Because that's classy.  And never forget the exclamation point!

Your mentor,
   IPO Magic

[cinder]

Outside of the UK, a European bank account has been opened to allow customers to trade on Mimex from mainland Europe.  Regulatory approval has also been obtained to allow US and Canadian customers.

Show us the documents on the approval.

[NotLambchop]

This has all been covered before.  No McExchange franchise 4 U.
Piggybacking your ridiculousness on top of another one simply doesn't work.

TY Crypto Capital.  This brings me back to my original question, which banks are you working with?
For a real-world example:
I live in US, NY, NYC, which bank would I be dealing with?  I'd like to contact that bank and verify your involvement with it.
TY again.

Re. "no need to trust or provide your information to the trading software provider, they are a software company, not a financial one":

An exchange operator is an exchange operator, a software provider is a software provider.  If the software provider happens to also be running the exchange, he becomes both.  I'm afraid you've been mislead by your legal counsel.

We currently do not work with a Bank in the U.S, but we will provide a funding option directly to US customers in the near future and will update our customers as soon as it is setup.

OK, no US banks.  Any banks I could contact?

We act as exchange operators, and the "exchange" companies are software providers to our financial company. If you used trading software, is your agreement with the software company that made the software or the broker that provides the software to you as a client.  If you use online banking software provided by your bank to handle your banking needs do you interact directly with the software company that wrote the software for the banking platform? Of course not.

This is getting a bit silly.  When I use my bank's software, I'm dealing with my bank.  The [outside] firm providing banking software to my bank is not opening bank branches and calling itself "bank," while the exchange software providers are not starting their own exchanges while playing licensed brokers.  No parallels whatsoever with your DIY exchanges functioning on open-source software (which you provide along with your "bank - escrow" service).
McExchange Franchise model is amusing as a thought exercise, but I'm afraid no more than that.

We provide exchange software developers to option to engage customers without holding money in their own account, but in an escrow account. An exchange software provider manages the software, they do not need to physically handle your money, they only need to run and manage the matching engine software.

"Physically handle [my] money"?!  Unless you are expecting my bank to send used, nonsequential tens and twenties, you won't be physically handling it either.  An exchange is an exchange, and the person selling unregistered securities on an unlicensed exchange is selling unregistered securities while running an unlicensed exchange.  Regardless of who "escrows" the money.

I don't particularly care if you break every law on the books, but don't kid your "clients."

Think about coinfloor, a UK exchange that uses a money transmitter to hold the funds in escrow and receive and send them back and forth on behalf of their customers. We do the same thing, but on a global multi-currency platform.
...

No.  From a cursory look at the website, Coinfloor appears to be no different from other exchanges, it does not farm out AML requirements to third parties, or claim to be just a "software provider."  Again, no parallels with what you are proposing.

As I said, McExchange is an interesting hypothetical, and clever in a geeky, literalist sort'a way, but it's simply a nonstarter as a working, IRL proposition.  Financial regulators simply don't share our sense of humor.

[cinder]

Outside of the UK, a European bank account has been opened to allow customers to trade on Mimex from mainland Europe.  Regulatory approval has also been obtained to allow US and Canadian customers.

Show us the documents on the approval.

We work with CryptoFinancial for US and Canadian customers, as they have a license to accept funds. You'll have to ask them for it. They will also verify that we are working with them.

EDIT: Here is their thread https://bitcointalk.org/index.php?topic=269191.0

They are also who we will be using for JPY

What convincing documents CryptoFinancial show you that they can deliver what they promise?

[NotLambchop]

You have an agreement with a UK bank.  Which you're not at liberty to discuss.
And an agreement with CryptoFinancial.  Which you're also not at liberty to discuss.
CryptoFinancial is also not at liberty to discuss their banking arrangements.  Which begs the question:

...
-Tell us your age, your previous experience in managing multinational currency exchanges, how you plan to spend your summer vocation, and when you hope to finish secondary school.
...

[MrWDunne]

You have an agreement with a UK bank.  Which you're not at liberty to discuss.
And an agreement with CryptoFinancial.  Which you're also not at liberty to discuss.
CryptoFinancial is also not at liberty to discuss their banking arrangements.  Which begs the question:

...
-Tell us your age, your previous experience in managing multinational currency exchanges, how you plan to spend your summer vocation, and when you hope to finish secondary school.
...

I can discuss our agreement with crypto financial, it is simply information I have which is not publicly available that I am not willing to share.

No, I am not in secondary school although yes I am young. Feel free to hold that against me if you wish, although I doubt that would sway your opinion.

As for previous experience with multi national currency exchanges, none. Then again I cannot thing of a single CEO of a bitcoin exchange that does.

[NotLambchop]

Lol, I'm not holding your age against you any more than i hold being a cat against my cat.  But giving a kid with no qualifications money to start an exchange is as absurd as giving it to my cat, as clever as he is.

Go out, have fun, get laid, get wasted--best years of your life!



*how many of these "shares" have you sold, anyhow?  

[MrWDunne]

Lol, I'm not holding your age against you any more than i hold being a cat against my cat .  But giving a kid with no qualifications money to start an exchange is as absurd as giving it to my cat, as clever as he is.

Go out, have fun, get laid, get wasted--best years of your life!

While I appreciate the sentiment I do not wish to waste the opportunity I have before me, not to mention that the service we shall be providing to the UK is sorely needed.

[NotLambchop]

MrWDunne, though it pains me to say this, you are approximately as likely to start your McExchange as my cat (who is a frickin' talented animal, make no mistake.  Should see him with a new cardboard box...)

How many sharez have you sold thus far?

[MrWDunne]

MrWDunne, though it pains me to say this, you are approximately as likely to start your McExchange as my cat (who is a frickin' talented animal, make no mistake.  Should see him with a new cardboard box...)

How many sharez have you sold thus far?

Enough to get us to beta, not a large amount but enough.

You may look it up if you so wish, all of the information is available on the Counterparty blockscanner.

[RiverBoatBTC]

angel.co states 20k of Previous funding.

[MrWDunne]

angel.co states 20k of Previous funding.

Partially accurate, in reality its 12k of funding. Own capital.

Thank you for the point, I have updated it.

[RiverBoatBTC]

What have those funds been used for thus far, a audit of assets and liabilities is always a nice thing to look at for investors.

[AcoinL.L.C]

Why are more funds needing to be raised than, if your expenses are already covered (for the most part)?

[MrWDunne]

Why are more funds needing to be raised than, if your expenses are already covered (for the most part)?

More money needs to be spent on
Multi-tiered security audit
Colocation
Legal fees
Crowdcurity campaign.

To expand on this, the costs listed were the ones we are already committed to.