[MPEx] S.BVPS BitVPS.COM IPO

[rapeghost]

This is a notice that S.BITVPS will be ready for trading soon.

BitVPS is an ISP specializing in virtual private servers, dedicated servers, and managed services.  We accept Bitcoin primarily but have several PayPal customers. We have just expanded into three US based data centers and one European data center. (Chicago, Dallas, Los Angeles, and Amsterdam)

We generally operate debt-free and are profitable. Money is tight due to our ordering of a new VM node but we expect it to balance out by the end of the month.

Stats:
January: 21 New clients
Februrary: 15 New clients
March: 30 New clients
April: 8 New clients (so far)

Total customer count: 71

Details of the IPO can be found http://polimedia.us/bitcoin/mpex.php?mpsic=S.BVPS

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[rapeghost]

Last months earnings statement can be found here: http://www.bitvps.com/bitvps-march-earnings/

[brendio]

A question for you or MPEx: How does IPO allocation on MPEx function when demand outstrips supply? I can think of three different ways it could be set up:

1) First in, best dressed. Orders are filled at the bid price in order of bid placement at IPO ask price.
2) Proportional. Where there are more bids than IPO shares, bid orders are filled proportionally at IPO ask price (e.g. 60'000 bids; 30'000 shares on offer. Each bid is filled 50%).
3) Trades filled at bid price (auction style); bidders pay more than stated IPO price to secure shares.

I see pros and cons of each. Before placing my bid, I'd like to know which way the exchange functions.

[MPOE-PR]

@Brendio That'd be 1. The relevant parts are in the IPO contract,

one block of 30`000 (thirty thousand) shares at a price of 0.0022 BTC each ; one block of 75`000 (seventy-five thousand) shares at a price of 0.0024 BTC each ; one block of 45`000 (fourty-five thousand) shares at a price of 0.0026 BTC each.

Thus, once S.BVPS goes to trading on the 15th the first 30`000 orders at market price or limit no less than 220000 will receive 30`000 shares, the next 75`000 orders at market price or limit no less than 240000 will receive 75`000 shares and finally the next 45`000 orders at market price or limit no less than 260000 will receive the last 45`000 shares of this IPO. Subsequently BITVPS will not offer any more shares for a period of at least 30 days, and all further orders will have to be satisfied from initial underwriters taking profit/closing out.

[brendio]

@Brendio That'd be 1. The relevant parts are in the IPO contract,

one block of 30`000 (thirty thousand) shares at a price of 0.0022 BTC each ; one block of 75`000 (seventy-five thousand) shares at a price of 0.0024 BTC each ; one block of 45`000 (fourty-five thousand) shares at a price of 0.0026 BTC each.

Thus, once S.BVPS goes to trading on the 15th the first 30`000 orders at market price or limit no less than 220000 will receive 30`000 shares, the next 75`000 orders at market price or limit no less than 240000 will receive 75`000 shares and finally the next 45`000 orders at market price or limit no less than 260000 will receive the last 45`000 shares of this IPO. Subsequently BITVPS will not offer any more shares for a period of at least 30 days, and all further orders will have to be satisfied from initial underwriters taking profit/closing out.

Okay, I just wanted to check, because on GLBSE it would function like option 3 if there are bid orders at greater than 0.0022 BTC each at the time BitVPS places the offer at 0.0022 BTC.

[brendio]

Another question: Will the pending bids for the IPO be displayed on the contract page prior to issue so that one can gauge the level of demand?

[MPOE-PR]

No, you can't actually bid until the stock opens for trading.

Two strategies that may prove useful in getting early dibs are to have your order all signed, encrypted and ready to go (if you're not using the python script or something equivalent) and joining #bitcoin-otc-eu where you'll probably get early notice of trade opening.

[brendio]

Okay, that explains why my buy orders are not working. I've wasted a few bit cents getting a malformed buy order error message.

It would have been nice to get my buy in before open, as I'm not always at the computer.

[MPOE-PR]

I've wasted a few bit cents

Actually, that was a leftover from the beta days, there's no fee for malformed orders anymore. Your 6 bitcents were credited back to your acct.
Thanks for pointing it out.

[MPOE-PR]

@Chaang Noi If you haven't registered your key during the beta you will have to pay 20 BTC to have it registered, yes.

[MPOE-PR]

that is what i assumed, and that is why i never bothered to sign up. i wont be investing after all. good luck to rg!

So you didn't "bother" to get it for free because you assumed it will not be free later on and therefore you will not be investing at all because you are too busy making triangular forex arbitrage bots that aren't triangular and don't arbitrage. With logic of that caliber I'd guess you'll be the one needing the luck. How're the pics coming along honeybuns?

[terrytibbs]

that is what i assumed, and that is why i never bothered to sign up. i wont be investing after all. good luck to rg!

So you didn't "bother" to get it for free because you assumed it will not be free later on and therefore you will not be investing at all because you are too busy making triangular forex arbitrage bots that aren't triangular and don't arbitrage. With logic of that caliber I'd guess you'll be the one needing the luck. How're the pics coming along honeybuns?

lol u mad darling

[MPOE-PR]

There's > 50 people registered, and a tad more liquidity than anywhere else (excluding, of course, your fake bids on tygrr-bot atm).

[terrytibbs]

There's > 50 people registered

ten bucks says more than half got in during the beta period

[rapeghost]

Why don't you take this to a MPEx thread?

[rapeghost]

Though in the spirit of honesty, I do agree 20BTC is a lot. But then I realize not everyone is as poor as me.

[Shadow383]

that is what i assumed, and that is why i never bothered to sign up. i wont be investing after all. good luck to rg!

So you didn't "bother" to get it for free because you assumed it will not be free later on and therefore you will not be investing at all because you are too busy making triangular forex arbitrage bots that aren't triangular and don't arbitrage. With logic of that caliber I'd guess you'll be the one needing the luck. How're the pics coming along honeybuns?

And reactions to potential customers like that ensure that very few people are going to pay up 20BTC when they can do their trading at GLBSE instead...

[MPOE-PR]

I think you may be misrepresenting what a "potential customer" is.

I've rarely seen it equated with "random troll" before, but I am glad to hear you will be starting an exchange to pilot the high seas of lulz with a trusty complement of such high-value, hard-hitting, dream customers. Or alternatively they could just express themselves on GLBSE.

[rjk]

I think you may be misrepresenting what a "potential customer" is.

I've rarely seen it equated with "random troll" before, but I am glad to hear you will be starting an exchange to pilot the high seas of lulz with a trusty complement of such high-value, hard-hitting, dream customers. Or alternatively they could just express themselves on GLBSE.

As the supposed MPOE public relation handle, I find the tone of your messages
highly unprofessional. Your lambasting of potential customers, making very bold
claims about your system and systematically mocking your competitors (future
or existing)  paints the rather worrying picture of someone with a very large ego,
very little business sense,and that is going to have a very hard time handling the
unavoidable conflicts that will occur during the operation of MP[OE,Ex].

I initially found your system(s) interesting, but given what I've observed so far,
I will stay on the sidelines. Good luck with the smart ass attitude.

Hey, at least it isn't an idiot that hardly knows how his own business runs and has a hard time elucidating his own thoughts.

[terrytibbs]

Hey, at least it isn't an idiot that hardly knows how his own business runs and has a hard time elucidating his own thoughts.

Whom do you have in mind?