Topic: [ANN][XRC]RhinoCoin - A Decentralized Record Label - SKYHOOK - NEW WEBSITE - page 8. (Read 34863 times)

Why not?

If it's really legitimate then they should offer a trusted escrow.

They release the promised product and escrow releases the funds.

Everyone wins.

Unless of course they are trying to scam people which it seems like.

Newbie accounts posting here in support + no escrow + some kind of obscure indie label =  SCAM

sorry, try again.

Impulse,

I think you're right.  I think Eric Voorhees had to pay some SEC fine recently for selling some IPO shares which were not approved by the SEC.

Interesting dilemma.  I wonder if they'd bother with a small unknown.

Vlad2Vlad - Yes, it is very similar to a real IPO on a real stock exchange. That is why, in the SEC's opinion, it would probably be illegal in the USA. The IPO is not so much about RhinoCoin, but about raising money for the company. RhinoCoin itself is not what people want, they are buying "profit shares" of the company. The fact that these profits are paid out only in RhinoCoin, not fiat currency (or even BTC) is the part of the law that has not been fully tested yet.

Other than that issue, on the surface at least this IPO looks 100 times better than almost all the other amateur or scammy looking IPOs that populate the cryptocurrency landscape.

As for getting listed on Nasdaq though, that is unlikely. A recent study said "Nearly 90 percent of the CFOs surveyed said their firms spent more than $1 million on one-time costs associated with the transaction. " And, another study said operating as a public company adds about $2.5 million, on average, to a company’s cost structure, with $1.5 million of that devoted to higher compensation for CEOs, CFOs, and others in the finance function, such as investor-relations professionals. That figure also covers increased board costs, as more than 80% of companies had either added new members to their boards or increased director compensation prior to their IPO.

That study includes companies with revenues as high as $4 billion, so of course Rhino would have a lot less expenses. But, it could easily cost them $500,000 for a real IPO, and another $500,000 year in extra expenses once they are public. Once they are public, I don't think they could have both the stock and the coin though, partially because that would be complicated, but mainly because there is no way it would ever comply with SEC laws. It is one thing to ignore the SEC and hope they don't notice you are care about what you are doing, but when you file for an IPO they scrutinize every little detail.

- Eric

This is seriously the next level of Cryptos.  Adding Counterparty Features (in future updates) you can even do on block contracts, escrow, etc. 

So this coin is actually incorporating an actual business plan.  Real life revenue streams and cash flows.  Imagine that. lol, a coin with an actual plan.  A coin-stock hybrid:  CryptoStock.

This is the type of coin, that if it succeeds, can seriously get listed on a real stock exchange like Nasdaq.  I think that's where top Alts, with cash-flows, will end up in 2-3 years.

Limited max cap of only 20 million coins is a huge bonus and the IPO seems fairly prices given the limited dilution and the business potential.


Reserved...

good idea, still waiting to go, 

I am expecting this 2 be quite until after July 5th   Once everyone is locked and loaded watch the enthusiasm!!

The difference is that as far as I know, companies sites like Indiegogo and Kickstarter are not allowed to pay out rewards/dividends that are a percentage of the profit from the venture due to SEC laws.

This is kind of a no-brainer. This isn't a shitcoin released on vapour-promises for a quick pump-and-dump. This is a niche offering to crowdfund ongoing equity investment with a recording studio in Montreal. If you were asked to buy equity in a similar venture using fiat-- and you probably wouldn't since you're concerned with US federal law risks with regard to foreign investment-- then obviously you wouldn't give it a second thought.

Stop comparing this to shares in a company and start comparing it to indiegogo, Kickstarter, etc. Initiatives on those sites aren't bound to deliver on their backer rewards, and that's the inherent risk you take supporting something you believe in. For certain types of crowdsourcing funding, the fundee receives the funds no matter how much of their target was pledged, and from that point on, they're free to do what they will, even if that includes wasting it and saying they tried. It's up to you to vet your investment in those cases, as it is with Rhinocoin, and decide for yourself if it's worth it to you to essentially donate to their cause and maybe receive equity returns.

This is a fantastic idea-- one of the best niche-focused, targeted uses of cryptocurrency as a recurring source of community involvement that the crypto world has seen yet. I have a feeling it's going to succeed wildly.

Nice! This could be epic.

What exactly are you guys looking for?

Do we want a third party holding all the funds?

Adding more and more costs before we even start

Not trying to start anything just curious I love it!!  I want 2 understand what everyone is so worried about... there is crypto being created everyday with absolutely no backing and yet it gets tons of investors... This should really be a no brainer

It is an interesting concept, but what you say is correct. Not only is this essential information normally released, in this case I believe they are skirting around some very nasty federal laws in at least the US. They are basically proposing to sell unregulated stocks.

Interested to see what happens, but my BTC will be staying in the wallet on this one.

offer escrow or this will just be flagged as another scam

I am not sure what problem the escrow is attempting to solve.  For this project and community to succeed it will require the trust and cooperation on all sides, as do most other crypto currencies; investors, operators, developers and artists will have to build relationships based on trust, mutual reward and/or benefit backed by a cryptographic means of exchange and consensus.

We have every intention on following threw with all aspects outlined in the pre-announcement and plan on running a fully transparent IPO.  The launch is currently handled via the blockchain.info api and will provide a detailed investor breakdown list upon request, which could also be verified against the blockchain.  We feel that our IPO procedure is completely fair and secure.

Your suggestions and/or feedback is appreciated and welcomed, we are in this to revolutionize the music industry together.

Richard
RhinoCoin Founder
www.rhinocoin.org

Thanks for your support Lovethecoins, we thought it would definitely be interesting building a crypto community around a legitimate business model, the fact that it is in the music business is an added bonus :-)

What we are presenting is a turn-key business start up based around a crypto community.  Musicians and artists around the world have struggled to gain access to the necessary resources to successfully fund, release and promote their works.  The music industry is currently controlled by a few major players often stifling talent and/or controlling which artists get promoted.  Talent is viewed as a commodity that must produce a product that can easily be marketed with the current trend. 

Legally binding contracts often define the obligations and limitations to artists ensuring maximum profits to the label. Great talent often remains anonymous or will never reach its true potential due to the profit oriented motives of the major labels burdened by extremely high operational costs.  In the current business model major players in the music industry use contract manipulation to control and profit from their artists.

The music industry has been searching for and is in need of a change.  RhinoCoin - A Decentralized Record Label, is a new and unique approach of creating, producing and releasing music while rewarding the artists and the community.  The RhinoCoin Label and Community is way to give the artistic control back to the people and let the true talent rise to the top.

Why no escrow for the IPO ?

looks nice, the detail of plan is believable

I´m in if you offer escrow service  or kind like that

Amazing idea!  Finally, something new in the Music Industry!

There are 31 coins worth more and this coin is actually backed by something... I don't see the problem here I love it