Negative trust posted.
Avoid this scam fellas. Satoshi black hole this one is!
Topic: [ANN] [EasyBitzz] IPO Announcement (Read 1704 times)
Looks like it's time to call this one dead as well. Hopefully the new rules being implemented over at crypto::stocks will start weeding out some of these twat-waffles!
-edit: looks like their site isn't even working at this point. Sca-mboush!
-edit: looks like their site isn't even working at this point. Sca-mboush!
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Because EasyBitzz is a first in the industry
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No your not the first in the industry, you have/had localbitcoins, probably a few BTC-ATM's by now in the usa(at least they pop up in many other countrys) bitinstant, btcquick, CampBX, coinbase, and many other exchanges around the world like bitstamp, btc-e, mtgox(2011-201304?) that also serve us customers in various ways over the years.Because EasyBitzz is a first in the industry
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near the D.C. area.
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Once the exchange is up and running we plan to have transaction fees that will be similar to what online exchanges are charging now. .[/left]
So as far as i understand your about to start an exchange fiat<->BTC in the (Washington?) DC area. Is Washington one of the 5 states that you don't require a license to be a money transmitter as you choose to start up there or do they require a license and in that case how big volumes do your company have to be up to before you can even apply for a license there, and what is the licensing cost in the states you aim to start in, i think there was an estimate of something like 1-2 million usd cost just to get licenses for all 43 states that needs licensing so around 30 000 usd per state you like to have customers from/in.near the D.C. area.
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Once the exchange is up and running we plan to have transaction fees that will be similar to what online exchanges are charging now. .[/left]
In the United States the sale or purchase of Bitcoin is virtually unregulated.
.....
KYC (know your customers) and money laundering regulation does not currently apply to Bitcoin exchanges. It doesn't even apply to typical fiat exchanges.
......
EasyBitzz intends to follow every federal and state law in which it operates, but we intend to buy/sell Bitcoin to our customers without the need for checking accounts, identification procedures, or five day waiting periods.
It looks like you have missed a lot of things thats been happening the last year in the btcworld if you claim the buy/sell of btc is unregulated and that KYC and such don't apply to bitcoinexchanges.
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Mtgox have had many million usd confiscated for an unknown time by the usgov(even thou google and a lot of other big us companys break the same laws and usgov don't mess with them), it may take them a year or two more until they get there money back.
USgov has made it so BTC-TC/ltcglobal and Bitfunder exchanges (btc and ltc currency only) had to close down.
Cryptsy still havent started to accept USD deposits/withdrawals for a single state yet(as far as i know) even thou they should have applied for there licensing in the first states many months ago.
bitinstant closed down
btcquick can't accept us costomers anymore.
Multipool had to buy back there shares as they were not in compliant with SEC rules
And basically every btcexchange(may be a few exceptions left) around the globe seems to have been pressured by the usgov to introduce KYC/AML, in some country's the rules introduced by the exchanges is even breaking local laws to please the usgov.
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So i would say that it looks rather like the usgov is putting more pressure on btcbusiness than normal ones, not the other way around.
How do you mean that your company should be an exception and not be forced to follow all regulations other btc-companys in the usa have to follow, register a proper company, SEC, FINCEN, licensing as money transmittor, KYC....
In almost any country in the world except the usa it would probably be possible to start up such thing pretty easy, but in usa it's just to high fees and to many obsticals for small actors, things looks to be setup for the big company's and the money elite there.
We are hoping for owners who believe in our greater mission of promoting the mass adoption of cryptocurrency.
Believing in someone's mission may be a fine basis for charity, but on its own it is not a basis for investing. See here, and listen to the folks who are bringing objections instead of trying to argue your way out of it.
The way things sit right now...Mt. Gox is holding Bitcoin prices hostage...coinbase takes 5+ days for almost everything...and our friends and family are having problems getting Bitcoin quickly enough to invest in our IPO. This must end. Brick and mortar Bitcoin exchanges will popularize cryptocurrency in new markets, make Bitcoins more accessible to current owners, and stabilize all cryptocurrency through their very existence.
The question is why these exchanges don’t exist already? The answer is that it’s a scary market. The stability of Bitcoin is in question. Every week there seems to be a new scandal, and untested government regulation requires significant time and capital investment to create a business that no one is sure will last. While everyone is waiting for permission...we’ll just do it.
With current Bitcoin prices we’re asking for somewhere in the neighborhood of 75,000 dollars. We’ll be using a shoestring budget...but in the end all we need is enough money to get a specialized lawyer, rent a brick and mortar location or two, and hang a sign...everything else is window dressing. We are aware of all the different laws and regulations that exist. They are quite undefined...and can be either worked around (vouchers, private club), ignored (legally challenged), or completely observed. We have access to some free legal help, but in end we’ll hire one of these new brand of crypto-accountant-lawyers to advise us on exactly what is possible. Are we putting the cart before the horse? Absolutely, but right now this is the only way to get things done at a reasonable price.
We expect criticism, but please visit our webpage and read into our motivation. If you believe that we are naive...then perhaps...but we are not trying to steal anyone’s money. Email us, tell us your skills, and we’ll put you to work. We have the foolish idea that people might see the benefits of a publicly owned brick and mortar exchange, and so we are going to open one. If it’s only the founders sitting around a ticker with their Bitcoin wallets open and a stack of twenties then so be it, but we were hoping for some legitimacy. We thought public ownership and a financially transparent business would help in this regard.
This is all uncharted waters, and our business plan is definitely unique...even undefined in many places. Few things can be set in stone as malleability will be required if this venture is to succeed. We want to hear from our shareholders, and cryptostocks makes voting very convenient. EasyBitzz believes cryptocurrency will shake the foundations of economics and government. We expect many people will say that what we are proposing is impossible…and they are free to keep their coins. We are hoping for owners who believe in our greater mission of promoting the mass adoption of cryptocurrency.
The question is why these exchanges don’t exist already? The answer is that it’s a scary market. The stability of Bitcoin is in question. Every week there seems to be a new scandal, and untested government regulation requires significant time and capital investment to create a business that no one is sure will last. While everyone is waiting for permission...we’ll just do it.
With current Bitcoin prices we’re asking for somewhere in the neighborhood of 75,000 dollars. We’ll be using a shoestring budget...but in the end all we need is enough money to get a specialized lawyer, rent a brick and mortar location or two, and hang a sign...everything else is window dressing. We are aware of all the different laws and regulations that exist. They are quite undefined...and can be either worked around (vouchers, private club), ignored (legally challenged), or completely observed. We have access to some free legal help, but in end we’ll hire one of these new brand of crypto-accountant-lawyers to advise us on exactly what is possible. Are we putting the cart before the horse? Absolutely, but right now this is the only way to get things done at a reasonable price.
We expect criticism, but please visit our webpage and read into our motivation. If you believe that we are naive...then perhaps...but we are not trying to steal anyone’s money. Email us, tell us your skills, and we’ll put you to work. We have the foolish idea that people might see the benefits of a publicly owned brick and mortar exchange, and so we are going to open one. If it’s only the founders sitting around a ticker with their Bitcoin wallets open and a stack of twenties then so be it, but we were hoping for some legitimacy. We thought public ownership and a financially transparent business would help in this regard.
This is all uncharted waters, and our business plan is definitely unique...even undefined in many places. Few things can be set in stone as malleability will be required if this venture is to succeed. We want to hear from our shareholders, and cryptostocks makes voting very convenient. EasyBitzz believes cryptocurrency will shake the foundations of economics and government. We expect many people will say that what we are proposing is impossible…and they are free to keep their coins. We are hoping for owners who believe in our greater mission of promoting the mass adoption of cryptocurrency.
i dunno... maybe if you (plural) used more... you know... ellipses... in your official communication...
maybe add at least another "z" to your name... i might invest... two z's is like... you know they're trying something but have they... y'know... got the guts... i think three z's would be better, perhaps four?
! The way things sit right now...Mt. Gox is holding Bitcoin prices hostage...coinbase takes 5+ days for almost everything...and our friends and family are having problems getting Bitcoin quickly enough to invest in our IPO. This must end. Brick and mortar Bitcoin exchanges will popularize cryptocurrency in new markets, make Bitcoins more accessible to current owners, and stabilize all cryptocurrency through their very existence.
The question is why these exchanges don’t exist already? The answer is that it’s a scary market. The stability of Bitcoin is in question. Every week there seems to be a new scandal, and untested government regulation requires significant time and capital investment to create a business that no one is sure will last. While everyone is waiting for permission...we’ll just do it.
With current Bitcoin prices we’re asking for somewhere in the neighborhood of 75,000 dollars. We’ll be using a shoestring budget...but in the end all we need is enough money to get a specialized lawyer, rent a brick and mortar location or two, and hang a sign...everything else is window dressing. We are aware of all the different laws and regulations that exist. They are quite undefined...and can be either worked around (vouchers, private club), ignored (legally challenged), or completely observed. We have access to some free legal help, but in end we’ll hire one of these new brand of crypto-accountant-lawyers to advise us on exactly what is possible. Are we putting the cart before the horse? Absolutely, but right now this is the only way to get things done at a reasonable price.
We expect criticism, but please visit our webpage and read into our motivation. If you believe that we are naive...then perhaps...but we are not trying to steal anyone’s money. Email us, tell us your skills, and we’ll put you to work. We have the foolish idea that people might see the benefits of a publicly owned brick and mortar exchange, and so we are going to open one. If it’s only the founders sitting around a ticker with their Bitcoin wallets open and a stack of twenties then so be it, but we were hoping for some legitimacy. We thought public ownership and a financially transparent business would help in this regard.
This is all uncharted waters, and our business plan is definitely unique...even undefined in many places. Few things can be set in stone as malleability will be required if this venture is to succeed. We want to hear from our shareholders, and cryptostocks makes voting very convenient. EasyBitzz believes cryptocurrency will shake the foundations of economics and government. We expect many people will say that what we are proposing is impossible…and they are free to keep their coins. We are hoping for owners who believe in our greater mission of promoting the mass adoption of cryptocurrency.
The question is why these exchanges don’t exist already? The answer is that it’s a scary market. The stability of Bitcoin is in question. Every week there seems to be a new scandal, and untested government regulation requires significant time and capital investment to create a business that no one is sure will last. While everyone is waiting for permission...we’ll just do it.
With current Bitcoin prices we’re asking for somewhere in the neighborhood of 75,000 dollars. We’ll be using a shoestring budget...but in the end all we need is enough money to get a specialized lawyer, rent a brick and mortar location or two, and hang a sign...everything else is window dressing. We are aware of all the different laws and regulations that exist. They are quite undefined...and can be either worked around (vouchers, private club), ignored (legally challenged), or completely observed. We have access to some free legal help, but in end we’ll hire one of these new brand of crypto-accountant-lawyers to advise us on exactly what is possible. Are we putting the cart before the horse? Absolutely, but right now this is the only way to get things done at a reasonable price.
We expect criticism, but please visit our webpage and read into our motivation. If you believe that we are naive...then perhaps...but we are not trying to steal anyone’s money. Email us, tell us your skills, and we’ll put you to work. We have the foolish idea that people might see the benefits of a publicly owned brick and mortar exchange, and so we are going to open one. If it’s only the founders sitting around a ticker with their Bitcoin wallets open and a stack of twenties then so be it, but we were hoping for some legitimacy. We thought public ownership and a financially transparent business would help in this regard.
This is all uncharted waters, and our business plan is definitely unique...even undefined in many places. Few things can be set in stone as malleability will be required if this venture is to succeed. We want to hear from our shareholders, and cryptostocks makes voting very convenient. EasyBitzz believes cryptocurrency will shake the foundations of economics and government. We expect many people will say that what we are proposing is impossible…and they are free to keep their coins. We are hoping for owners who believe in our greater mission of promoting the mass adoption of cryptocurrency.
We will operate in good faith and let the lawyers and government fight it out.
It's going to be your lawyers who will be fighting it out with the government - and if you're trying to raise the equivalent of less than $100,000 to open this business, I'm guessing you don't have anywhere close to the funds for that kind of legal defense.
We were nervous posting on Bitcointalk.org...because no one offers solutions...veterans and newbies alike find very little good in any idea. We all watched something revolutionizing like ethereum get postponed because of the same type of problems that are being pointed out. This is a simple idea that can be done by any one person with enough cash on hand and Bitcoin in wallet. We are doing this because it is the most efficient way possible to expand Bitcoin users and add stability to an industry in very serious need of some good news.
We are well aware of fincen laws...lawyers have explained that there are several ways to be considered exempt...anything under 1000 dollars per day per customer means these customers can be completely anonymous. There is also a "private club" exemption that may work if we charge a minimal joining charge (thinking about a satoshi)...there is also the thought of running the exchanges like pop-ups. If one is closed down...simply open another. The main point we took away from all of this is that the laws are written but not challenged or enforced. Because EasyBitzz is a first in the industry, emphasizes financial transparency, and public ownership, we would be in a unique position to help define legislation...not simply comply. We will operate in good faith and let the lawyers and government fight it out.
What will be your KYC/AML guidelines? Will you be following FinCEN regulations?
The use of Bitcoin for illegal purposes has placed a black cloud over the otherwise brilliant solution of Bitcoin, and EasyBitzz is undecided in the level of scrutiny that should be aimed at our customers. We believe that anonymity is one of the strongest and most unique properties of cryptocurrency and are hesitant to rob Bitcoin of this attribute for the purpose of purported legitimacy. In the United States the sale or purchase of Bitcoin is virtually unregulated. EasyBitzz could check identification, verify bank accounts, run credit checks, background info, criminal history searches...all of this can be done by subscribing to one of many services for a small monthly fee. For EasyBittz as a company...this may be the safest route to avoid any future legal problems. But there is a greater question of deciding how cryptocurrency will be treated in the future and how EasyBitzz obligation to its customers, owners, and Bitcoin should be defined. KYC (know your customers) and money laundering regulation does not currently apply to Bitcoin exchanges. It doesn't even apply to typical fiat exchanges. These laws are made with banks and investment firms in mind. The idea of applying them to a simple currency exchange would be a little too compliant for EasyBitzz liking. Not sure when the last time anyone changed a dollar bill into Euro (or peso, baht, yuan etc.) but no identification is necessary. Cryptostocks makes it very easy to hold shareholder votes and it would be an interesting thing to poll. EasyBitzz intends to follow every federal and state law in which it operates, but we intend to buy/sell Bitcoin to our customers without the need for checking accounts, identification procedures, or five day waiting periods. Buy/Sell limits could be instituted to combat money laundering, but these are all things that will be brought to the attention of our shareholders. EasyBitzz will not do business with any person or company that we suspect of using Bitcoins for illegal activities, but currently has no plans to sacrifice the anonymity of our customers to combat crime. That is a job for Batman.
You will be an MSB (Money Service Business), so you would need to register with FinCEN or at least abide by their Know Your Customer and/or Anti-Money-Laundering guidelines.
Those three sentences that I've placed emphasis on show me that you have not adequately thought this business plan through.
All bitcoin exchanges I believe are subject to KYC/AML requirements. You may wish to revisit what happened to Mt.Gox, that may be the cause of their problems today;
http://www.theverge.com/2013/8/23/4651926/us-government-seized-5-million-from-bitcoin-behemoth-mt-gox
You may need another look at your biz plan
What will be your KYC/AML guidelines? Will you be following FinCEN regulations?
The use of Bitcoin for illegal purposes has placed a black cloud over the otherwise brilliant solution of Bitcoin, and EasyBitzz is undecided in the level of scrutiny that should be aimed at our customers. We believe that anonymity is one of the strongest and most unique properties of cryptocurrency and are hesitant to rob Bitcoin of this attribute for the purpose of purported legitimacy. In the United States the sale or purchase of Bitcoin is virtually unregulated. EasyBitzz could check identification, verify bank accounts, run credit checks, background info, criminal history searches...all of this can be done by subscribing to one of many services for a small monthly fee. For EasyBittz as a company...this may be the safest route to avoid any future legal problems. But there is a greater question of deciding how cryptocurrency will be treated in the future and how EasyBitzz obligation to its customers, owners, and Bitcoin should be defined. KYC (know your customers) and money laundering regulation does not currently apply to Bitcoin exchanges. It doesn't even apply to typical fiat exchanges. These laws are made with banks and investment firms in mind. The idea of applying them to a simple currency exchange would be a little too compliant for EasyBitzz liking. Not sure when the last time anyone changed a dollar bill into Euro (or peso, baht, yuan etc.) but no identification is necessary. Cryptostocks makes it very easy to hold shareholder votes and it would be an interesting thing to poll. EasyBitzz intends to follow every federal and state law in which it operates, but we intend to buy/sell Bitcoin to our customers without the need for checking accounts, identification procedures, or five day waiting periods. Buy/Sell limits could be instituted to combat money laundering, but these are all things that will be brought to the attention of our shareholders. EasyBitzz will not do business with any person or company that we suspect of using Bitcoins for illegal activities, but currently has no plans to sacrifice the anonymity of our customers to combat crime. That is a job for Batman.
You will be an MSB (Money Service Business), so you would need to register with FinCEN or at least abide by their Know Your Customer and/or Anti-Money-Laundering guidelines.
Those three sentences that I've placed emphasis on show me that you have not adequately thought this business plan through.
What will be your KYC/AML guidelines? Will you be following FinCEN regulations?
The use of Bitcoin for illegal purposes has placed a black cloud over the otherwise brilliant solution of Bitcoin, and EasyBitzz is undecided in the level of scrutiny that should be aimed at our customers. We believe that anonymity is one of the strongest and most unique properties of cryptocurrency and are hesitant to rob Bitcoin of this attribute for the purpose of purported legitimacy. In the United States the sale or purchase of Bitcoin is virtually unregulated. EasyBitzz could check identification, verify bank accounts, run credit checks, background info, criminal history searches...all of this can be done by subscribing to one of many services for a small monthly fee. For EasyBittz as a company...this may be the safest route to avoid any future legal problems. But there is a greater question of deciding how cryptocurrency will be treated in the future and how EasyBitzz obligation to its customers, owners, and Bitcoin should be defined. KYC (know your customers) and money laundering regulation does not currently apply to Bitcoin exchanges. It doesn't even apply to typical fiat exchanges. These laws are made with banks and investment firms in mind. The idea of applying them to a simple currency exchange would be a little too compliant for EasyBitzz liking. Not sure when the last time anyone changed a dollar bill into Euro (or peso, baht, yuan etc.) but no identification is necessary. Cryptostocks makes it very easy to hold shareholder votes and it would be an interesting thing to poll. EasyBitzz intends to follow every federal and state law in which it operates, but we intend to buy/sell Bitcoin to our customers without the need for checking accounts, identification procedures, or five day waiting periods. Buy/Sell limits could be instituted to combat money laundering, but these are all things that will be brought to the attention of our shareholders. EasyBitzz will not do business with any person or company that we suspect of using Bitcoins for illegal activities, but currently has no plans to sacrifice the anonymity of our customers to combat crime. That is a job for Batman.
What will be your KYC/AML guidelines? Will you be following FinCEN regulations?
I don't understand the business model, you mention by having actual physical exchanges, buildings. How exactly are you going to make this happen what is your plan?
just curious
just curious
No problem, I'd be happy to explain. We plan to use the funds raised by the IPO as the initial start-up money for the company. We feel the amount we raise will allow us to rent a storefront near the D.C. area. A portion of the funds will be set aside for furnishing and getting the space we rent able to accommodate our exchange. Once the exchange is up and running we plan to have transaction fees that will be similar to what online exchanges are charging now. The idea behind an exchange is relatively simple, and after an successful IPO we will have all that is needed to open a fully functioning exchange. After the first exchange opens we will expect to see that reflect on our market value thus giving us the potential means to open another exchange. We believe that this process can be repeated multiple times. Again the real idea is to spread awareness of Bitcoin by also making it vastly more accessible to the general public. I hoped this helped to clear some things up.
I don't understand the business model, you mention by having actual physical exchanges, buildings. How exactly are you going to make this happen what is your plan?
just curious
just curious
Another fine offering from Cryptostocks. Can we kill it before it lays eggs?
Your friend,
Rarity
Yea things starts to get really silly over at cryptostocks, 15 listing sofar in feb alone and we are only 20 days into the month, shall we guess that 1 or 2 individuals is behind 50-75% of them ?Your friend,
Rarity
What do this one say "Transparency in all aspects of business will be of paramount concern" I demand Advanced verification for your listing on cryptostocks then and that should be done before you move forward and release stocks so we all know who's behind this listing,
"*Open trade will be initiated shortly after final share is sold"
no thank you, you say you won't allow trade unless people buy 135 million shares in this, you got to be joking, there is no way you will get 135 btc in funding based on such bad listing.
You should have Cryptosocks guarantee that there will be no IPOflag raised at any point in your stock and if Cryptostocks can implement such function/feature and also guarantee investor there money back if they invest in your listing and you run away, then you may get a few people to invest a few free faucet gifts, 100 sat in your shares.
1 post is all you have on bitcointalk, thats hardly promising, witch is your main account on bitcointalk ?
You website is still under construction it so people will hardly be able to visit it "for updates and the full business proposal"
Bitcoin Needs More Users Bitcoin Needs A Foundation
The founders of EasyBitzz recognize the tremendous gap between those currently involved in cryptocurrency and the rest of the world. The EasyBitzz team is committed to eliminating this gap through the creation of brick and mortar Bitcoin exchanges. Cryptocurrency has reached a precarious plateau where growth is stunted and stability unrealized. Electronic currency has unfathomable potential but lacks the foundation necessary for mass adoption. EasyBitzz believes this problem can most easily be solved by making Bitcoin and other cryptocurrencies more accessible. EasyBitzz primary mission is promoting the mass adoption of Bitcoin through the creation of multiple brick and mortar Bitcoin exchanges. These exchanges will lend stability, efficiency, and accessibility to all cryptocurrencies.
Share Structure:
Total Shares: 300 million
45% of all shares to be made public
Initial Public Offering: 135 million non-dilutable shares
Initial Public Offering Price: .000001 btc
1btc = 1,000,000 shares = (.333% of the company)
Issue Date: February 21st, 12:01am (Eastern Standard Time)
*IPO and public trade listed on Cryptostocks.com/securities/97
*Open trade will be initiated shortly after final share is sold
*Transparency in all aspects of business will be of paramount concern
*Founders will reinvest using personal shares to expand EasyBitzz
Note to Forum regulars:
Our headquarters is located near Washington D.C. and we personally plan to be spending the next few months scouting locations, moving furniture, and overseeing every exchange opening. If at any point you agree with our mission and would like to be involved please contact us directly. While financial success is always a motivation, EasyBitzz is far more concerned with the greater cause of promoting the mass adoption of cryptocurrency.
Visit our website EasyBitzz.com for updates and the full business proposal.
Share Structure:
Total Shares: 300 million
45% of all shares to be made public
Initial Public Offering: 135 million non-dilutable shares
Initial Public Offering Price: .000001 btc
1btc = 1,000,000 shares = (.333% of the company)
Issue Date: February 21st, 12:01am (Eastern Standard Time)
*IPO and public trade listed on Cryptostocks.com/securities/97
*Open trade will be initiated shortly after final share is sold
*Transparency in all aspects of business will be of paramount concern
*Founders will reinvest using personal shares to expand EasyBitzz
Note to Forum regulars:
Our headquarters is located near Washington D.C. and we personally plan to be spending the next few months scouting locations, moving furniture, and overseeing every exchange opening. If at any point you agree with our mission and would like to be involved please contact us directly. While financial success is always a motivation, EasyBitzz is far more concerned with the greater cause of promoting the mass adoption of cryptocurrency.
Visit our website EasyBitzz.com for updates and the full business proposal.
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