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Author Topic: [GLBSE] N33D W33D MMJ Growing Op  (Read 4712 times)
Snapman
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June 04, 2012, 12:13:56 PM
 #1

Wanted to get some input on a possible security i have plans for.

www.n33d.org - UnderDevelopment

IPO Description (stock/share):
The owner of this certificate (aka. the shareholder) is a holder of one share of ownership in this organization, which entitles its holder to one vote in motions put forth by the organzation and to one share of the organizations profits. Motions can be put forward for voting by either the organizations CEO, or by 30% or more of shares, and require the vote of 51% or more of shares to pass. Profits are the net income remaining after expenses. Profits earned by the organization will be paid to shareholders as a dividend, divided equally among all shares. Funds will be generated by selling the end product (and/or clones) to local MMJ delivery services & documented patients. Future plans include expanding to additional grow sites.

As a venture such as this can pose risks to the organization making secrecy somewhat mandatory, yet operating an organization without some sort of transpanency is just plain unethical; our organization therefor will be keeping shareholders up to date on progress with daily to weekly photos & journal entries, including the organization's financial reports. Any piece of information that puts at risk the future of this organization, such as names or locations,  will be omitted from the update entries before release.

In the event of winding up of the organization and liquidating of it's assets, after the payment of the organizations creditors, the shareholders will be paid all remaining liquidity, divided equally among shares, such that one share entitles the holder to a single share of liquidity.

No shareholder is liable for the actions of this organization, or anyone who performs any action or task for this organization. No shareholder is liable for any debt that this organization takes on. The limit of liability of a shareholder is solely limited to the capital already invested in this organization when this share was purchased, and no further. Shareholders may not vote out the CEO as this position is permanent.


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June 04, 2012, 12:20:18 PM
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June 04, 2012, 12:24:18 PM
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Really?  You respond with a picture of a sketchy building and something that is illegal?  Snapman is in a state where medical marijuana is legalized, and the outline states that the intended purchasers are also legally entitled to purchase it.

At least this isn't another "give me your BTC so I can buy mining hardware" offering.  It's an actual proven business type that doesn't rely on gambling that BTC value won't crash, or that the difficulty won't shoot up without a corresponding price change.

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June 04, 2012, 12:26:53 PM
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It was bad humour I guess. I have nothing against MJ.
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June 04, 2012, 01:08:46 PM
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TBH. its legal in your state so why the hell not

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Its a new idea and for something like this the banks would not help. Ain't that what bitcoin is about
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June 04, 2012, 02:52:28 PM
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How will you migitate (if at all) the conversion risks of BTC <--> USD?

Are your profits in USD (or other fiat money) or do you sell at a fixed BTC price, regardless of conversion rates?

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June 04, 2012, 03:41:57 PM
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Interesting IPO.

You're setting this up in a place where MM is legal, but as you'll be primarily dealing in fiat will you be properly setting up your company? I would imagine the government would take a dim view of someone setting up an unlicensed grow op in their basement without a business license and the required paperwork, regardless of the status of pot in your jurisdiction.
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June 04, 2012, 04:10:44 PM
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That would be my eventual goal, to legitimize the setup to cover all sides. But until then, i might be able to convince a shop owner or 2 to work with me in BTC. I plan on going around meeting the members of collectives & co-ops here in the area to get the basis down on what i need to be aiming for.

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June 04, 2012, 04:19:20 PM
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See this is what is going to make it harder for all of us.  STAY AWAY.   Can't you just hear Barbra Walters doing and expose using this as content.  Smarten up people, please.

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June 04, 2012, 04:22:01 PM
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See this is what is going to make it harder for all of us.  STAY AWAY.   Can't you just hear Barbra Walters doing and expose using this as content.  Smarten up people, please.

Dalkore

Cute, i see you own Newbit Mining Co, just because i don't want to run ANOTHER mining op, i must be bad? A piece of advice, you cant hijack shares from a potential ipo that doesn't exist yet, its like kicking a dead horse (or kicking a cup of horse ejaculate for this matter.)

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June 04, 2012, 04:35:10 PM
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See this is what is going to make it harder for all of us.  STAY AWAY.   Can't you just hear Barbra Walters doing and expose using this as content.  Smarten up people, please.

Dalkore

Cute, i see you own Newbit Mining Co, just because i don't want to run ANOTHER mining op, i must be bad? A piece of advice, you cant hijack shares from a potential ipo that doesn't exist yet, its like kicking a dead horse (or kicking a cup of horse ejaculate for this matter.)

Do you even understand why I made this statement?  Think about the average person that has no opinion of Bitcoin and then reads about how people are using Bitcoins to fund a operation like this?   Stuff like this will just bring bad press to the community.   If you don't even understand that is a likely possibility, I don't know what to say.   For me, someone coming here to fund this type of project is not coming to the community because they support the cause of the reason of expanding the transactional use of Bitcoins.   

You may want to throw it back at me, with myself and partner running a mining operation but we do process transactions and provide extra security to the network at the same time.


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Snapman
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June 04, 2012, 04:53:09 PM
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First off, thats quite a leap, Barbra Walters? Really?

Secondly, if that person does watch Barbra Walters, then they obviously hate free thought and rather tote the party line. (NBC, ABC, or what ever group shes with now...) if people that are foolish enough to believe anything that comes out of her mouth, then its fiat for life with them anyway.

I'm merely providing investors a chance towards something other then another mining op. I'm not advocating the use of marjiuana, or that of any drug, and i'm not cooking meth. I'm growing something that shoudln't even be illegal in the first damn place, but i'm not here to argue politics.


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June 04, 2012, 05:00:38 PM
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See this is what is going to make it harder for all of us.  STAY AWAY.   Can't you just hear Barbra Walters doing and expose using this as content.  Smarten up people, please.

Dalkore

Yes, stay away, but not just for the bad publicity.  I am not trying to thread crap here, rather pointing out the risks of the investment at issue.

US-based grow ops are fraught with problems (from an investor's perspective).  They take a lot of hard work (they're running an actual farm), fail more often than restaurants, AND investors (and lenders) cannot get their money back when they fail.

I've been passed more than a few proposals for investments in grow ops and dispensaries.  Unless you're already in that biz, you should stay out of it. (I am not in it, for the record)

So what's that about not being able to get your money back?  Can't you just sue the guys who ran it?  Well, you can sue, but you'll lose.  Since marijuana is still prohibited by the federal govt. (regardless of any state laws to the contrary), and your case will most likely wind up in federal court, the grower has a proven affirmative defense in that your investment or loan was for a prohibited purpose and your suit is barred.  Don't believe me?  Check this out: http://abcnews.go.com/Business/500000-medical-marijuana-lawsuit-smoke/story?id=16322793#.T8zonzFSR9U

IANAL, just been down this rabbit hole before.

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June 04, 2012, 05:11:29 PM
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What state are you going to setup in?

Because your domain provider is based in Cali, and will give up your info with one letter that smells legalish.
That is if you used real info when you got that domain.

California is swamped with MMJ they have them every few blocks, and has really hurt prices at retail.

What strains are you going to grow?

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June 04, 2012, 05:12:16 PM
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First off, thats quite a leap, Barbra Walters? Really?

Secondly, if that person does watch Barbra Walters, then they obviously hate free thought and rather tote the party line. (NBC, ABC, or what ever group shes with now...) if people that are foolish enough to believe anything that comes out of her mouth, then its fiat for life with them anyway.

I'm merely providing investors a chance towards something other then another mining op. I'm not advocating the use of marjiuana, or that of any drug, and i'm not cooking meth. I'm growing something that shoudln't even be illegal in the first damn place, but i'm not here to argue politics.



I don't want to weigh in on the political statement you mentioned, not my place.


I will say, yes, think Barbra Walters and those types doing a story on this.    We don't need more bad press on how Bitcoins can be used for another <insert random illegal or quasi-legal transaction>.  We want to put a foot forward that shows we are pushing into the light and we are behind Bitcoin because of the financial alternative system it provides savers and businesses.   Being this is the in the epic-center of the movement, we need to assume people are following the development in Bitcoin from here.  

I really want Bitcoin to succeed even more than it has, this doesn't help.   Things like this will force agencies to try to disrupt one of the most important and vulnerable elements of Bitcoin.   FX exchangers like Mt Gox, Dwolla, Bit-Pay, Bit Instant, etc...   They tie this solidly to things like this and it will be all the justification needed to block or make it really hard to get currency in and out of the economy.

Dalkore

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June 05, 2012, 08:18:01 PM
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That cookie cutter approach will only go so far, before your loaded with nothing but the same types of organization crowding one another in a small econ system. We will eventually progress to the point where we have a million bit-pay's/dwollas/mtgox's/and mining operation type groups where each only has a few customers, complete and utter oversaturation.

Tip toeing around MSM won't help, even if there was no "news" for them to report, then would make some. Only sheeple believe that marijuana is the "devils drug", and there's no hope for them anyways. Blame big pharma for all the negative propaganda spewed out over the airwaves for the past century, theyd rather charge my insurance for $1000 pain pills then having me grow my own medication.

If you honestly believe that the financial organizations around the world will allow bitcoin to progress any further then a convenience to those of us who live on the net without enforcing the entire weight of the local governmental judicial systems, then you will have a rude awaking.

California is swamped with MMJ they have them every few blocks, and has really hurt prices at retail.

Yes random, this might have been true about a year ago, but the state and federal police in cali have had a wild hair up their ass lately (started worsening when obama invited himself into the white house), limiting and even shutting down all dispensaries in certain counties all over the state (mmj groups have been able to bypass this by basing their business in a county which allows it, transfering from storefront to delivery). Even LA, the dispensary capital has been regulated down to 100 dispensaries over the entire county, down from a near 1000.

As for strains, looking to start off with bluedream, superjack, ppp, and bubblicious.

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June 05, 2012, 09:02:42 PM
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So "greyhat" SEO/potential spamming (TCC), downloading most likely illegal content by proxy (BITCOINTORRENTZ), shady investments with 7% return per week (pirate pass throughs) with no disclosed business model at all and even "shares when hit by meteorite" (IMPACT) are all fine, but a MMJ operation would really damage the image of BTC and GLBSE?!

I'd rather have some more hard facts:
Expenses, projected income, how much money shall be raised, how many shares...

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June 05, 2012, 09:16:39 PM
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So "greyhat" SEO/potential spamming (TCC)

Not illegal, many legitimate companies sell blackhat SEO services.

downloading most likely illegal content by proxy (BITCOINTORRENTZ)
Also not illegal, BitcoinTorrentz is hosted in Russia where our IP laws don't have effect (the service itself isn't illegal, but those using it may be breaking the law).

shady investments with 7% return per week (pirate pass throughs)

If you look hard enough you will find a couple of ways to make an almost automated return legally of 10-12% like Pirate does with very little risk. There are many opportunities there and many other people are doing it.

but a MMJ operation would really damage the image of BTC and GLBSE?!

Out of all of these, which do you think the newspaper would write about? Of course the weed!

The newspapers love making up horror stories about "homegrown skunk cannabis killing our children", almost all the press coverage Bitcoin has gotten is about "the ebay of drugs", they're going to start calling it some sort of drug currency. If this comes about I would honestly consider leaving Bitcoin altogether, it's got a bad enough rep as it is.

Can you imagine trying to convince a fortune 500 company to use Bitcoin, when all the press are calling it a drug currency?

Busy ATM.
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June 05, 2012, 09:39:25 PM
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Lets just make this simple, there are only a couple of assets on GLBSE, we don't want anything too controversial yet or it'll ruin Bitcoins image. I can see it already, the press will love it, you can invest in grow ops with a few mouse clicks using Bitcoins.

I have nothing against medical MJ, but I genuinely do not want to see a grow op on any Bitcoin stock exchange, and I ask you not to go ahead with this as it WILL hurt Bitcoins image very badly.

Also, most medical states require that you don't make a profit from growing MJ, you are only allowed to charge enough to cover your costs, therefore if this venture ever made money it'd be illegal (depending on your state).

^^^^

Well put.    Either you are here to support this community and this movement or not.  Getting into an debate over whether marijuana should or should not be federally legal and then justifying your position by using Bitcoin to further it, in my opinion, its political and not for the betterment of bitcoin and what we are trying to do here, provide a truly viable alternative international medium of exchange and measurement of value (atleast that is why I think).

These types of ideas of course could be done with this and another of other means but you should really think hard about how that would reflect on the rest of us.   I know you think I am wrong about this but trust me, I am correct if you are looking after the interests of our group and not just some members.   

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June 05, 2012, 11:13:37 PM
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 Grin when is IPO? how much per share? I'm in...   Roll Eyes
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