Users sent back two shares to the issuer account "labcoin2", one was from me after the first outstanding share disappeared. Sorry for the confussion.
No worries. Thanks for clearing this up.
Topic: [BTC-TC] Virtual Community Exchange [CLOSED] - page 15. (Read 316534 times)
No worries. Thanks for clearing this up.
Users sent back two shares to the issuer account "labcoin2", one was from me after the first outstanding share disappeared. Sorry for the confussion.
If the # of outstanding shares changes, then the asset issuer is buying/selling shares. In this case, it means that apparently 2 shares were bought by the issuer. Hardly anything worth mentioning, I reckon.
Not to derail, but this implies that Labcoin is using IPO funds to buy shares 1/4th IPO price. I understand it was only two shares so far, lets see if they step up the buyback.
If the # of outstanding shares changes, then the asset issuer is buying/selling shares. In this case, it means that apparently 2 shares were bought by the issuer. Hardly anything worth mentioning, I reckon.
Burnside, why does Labcoin have 9999998 shares outstanding?
I was curious about this myself, it was 9999999 a day or so ago when I started noticing.
Burnside, why does Labcoin have 9999998 shares outstanding?
This really doesn't have anything to do with BTC-TC. You should move it one of the Labcoin threads where people might want to discuss it.
Dear Investors and Security Issuers,
As some of you may be aware a collective of security issuers and interested parties have banded together to attempt to purchase Burnside's code so that we can continue to operate the exchange, although perhaps under a different name and likely with some restrictions. If you are a security issuer please join the conversation on the recovery board (in the litecoin forum).
I am urging all security issuers not to make rushed decisions to move to a new exchange right now! Unfortunately some of you have gone to CryptoStocks.com already, which from what I can see is technically inferior and has near-zero liquidity (there are also some oddities like why VirCurEx has not paid dividends there for ages).
At CipherMine we are developing a simple tool to allow an issuer to import the .csv from a shareholder report and use that to distribute a dividend payment manually (ie. you just enter the amount and it sends that much to the shareholders). We intend to give this away to all of you for free.
BTC Trading Co does not shut down entirely for a month yet. You will be able to use the mechanisms there to distribute dividends in the mean time, and then you will still be able to with our tool or something similar.
It is the hope of our collective that we can have something operational within the next couple of months, so hopefully there would only be a short period of time where your securities were illiquid (barring manual trades of course).
To Shareholders, I cannot speak for all but most of us issuers intend to do the Right Thing and are making efforts, including committing significant personal resources, to try to look after you all.
In the mean time, please everyone hang in there and don't make panicked decisions! We will keep you posted as to developments.
Kate.
As some of you may be aware a collective of security issuers and interested parties have banded together to attempt to purchase Burnside's code so that we can continue to operate the exchange, although perhaps under a different name and likely with some restrictions. If you are a security issuer please join the conversation on the recovery board (in the litecoin forum).
I am urging all security issuers not to make rushed decisions to move to a new exchange right now! Unfortunately some of you have gone to CryptoStocks.com already, which from what I can see is technically inferior and has near-zero liquidity (there are also some oddities like why VirCurEx has not paid dividends there for ages).
At CipherMine we are developing a simple tool to allow an issuer to import the .csv from a shareholder report and use that to distribute a dividend payment manually (ie. you just enter the amount and it sends that much to the shareholders). We intend to give this away to all of you for free.
BTC Trading Co does not shut down entirely for a month yet. You will be able to use the mechanisms there to distribute dividends in the mean time, and then you will still be able to with our tool or something similar.
It is the hope of our collective that we can have something operational within the next couple of months, so hopefully there would only be a short period of time where your securities were illiquid (barring manual trades of course).
To Shareholders, I cannot speak for all but most of us issuers intend to do the Right Thing and are making efforts, including committing significant personal resources, to try to look after you all.
In the mean time, please everyone hang in there and don't make panicked decisions! We will keep you posted as to developments.
Kate.
Burnside, can you comment on these developments?
I'm pretty sure that we can sell assets as long as they are used in a legal manner and we do not sell them as an ongoing concern. This is why no sale can complete prior to shutdown, and the domains, database content, and my involvement cannot be included.
My thoughts are that we should have a silent auction for the site code, with a proportional portion of the purchase price able to be paid in LTC-GLOBAL revenue shares. For example, if you own 10% of the shares, you would get a 10% discount. I likely would apply a multiplier though, such that if you owned 10% of the shares, you'd get a discount equal to 3x that percentage, or something similar, thus diluting my own shares to the benefit of the other revenue shareholders.
I am aware that some of the existing LTC-GLOBAL revenue shareholders would prefer first right of refusal, but I do not believe that such an arrangement would be fair for other revenue shareholders that are not part of the deal because an alternate offer could come in for 2x more, and revenue shareholders that cannot be involved in the deal going forward (US residents) would not receive a fair value. It is my opinion that giving a discount/credit toward the purchase price is the best compromise available.
Given the limitations at hand, I am open to alternate suggestions.
Cheers.
Volcanic... Maybe you could go post in the speculation threads if you want to spin yarns?
I am not winding down because of anything LABCOIN related. The issues we have are not related to any one asset.
Proper disclosure has been made since Day 1 that the site doesn't validate anything and we've been pro-active in trying to keep them to their word.
I am not winding down because of anything LABCOIN related. The issues we have are not related to any one asset.
Proper disclosure has been made since Day 1 that the site doesn't validate anything and we've been pro-active in trying to keep them to their word.
Doesn't anyone also find it very strange the timing of these two events?
The timing of every coincidence is strange. That's what makes it a coincidence. It's when the timing isn't strange that it might mean something.
https://bitcointalksearch.org/topic/m.3257327
If Labcoin wasn't a scam, burnside wouldn't be running away right now. He is partially liable. Even the transaction fees from which he has profited from, since they were used to purchase [possibly] fraudulent shares, could land burnside in a lot of trouble. His legal barriers right now are not the "unknowns", because what is going on here is quite known.
Doesn't anyone also find it very strange the timing of these two events?
If Labcoin wasn't a scam, burnside wouldn't be running away right now. He is partially liable. Even the transaction fees from which he has profited from, since they were used to purchase [possibly] fraudulent shares, could land burnside in a lot of trouble. His legal barriers right now are not the "unknowns", because what is going on here is quite known.
Doesn't anyone also find it very strange the timing of these two events?
You may think it's strange, but this justifies no conclusion like this without further evidence or indication.
All that needs to be proven is that labcoin is a scam, then everything else will come.
https://bitcointalksearch.org/topic/m.3257327
If Labcoin wasn't a scam, burnside wouldn't be running away right now. He is partially liable. Even the transaction fees from which he has profited from, since they were used to purchase [possibly] fraudulent shares, could land burnside in a lot of trouble. His legal barriers right now are not the "unknowns", because what is going on here is quite known.
Doesn't anyone also find it very strange the timing of these two events?
If Labcoin wasn't a scam, burnside wouldn't be running away right now. He is partially liable. Even the transaction fees from which he has profited from, since they were used to purchase [possibly] fraudulent shares, could land burnside in a lot of trouble. His legal barriers right now are not the "unknowns", because what is going on here is quite known.
Doesn't anyone also find it very strange the timing of these two events?
You may think it's strange, but this justifies no conclusion like this without further evidence or indication.
I really think this creates more legal troubles than letting it run its natural course. Example: If Labcoin can't settle to a new exchange, you could be held liable for shutting down BTCT.
I am curious..how could Burnside be liable if labcoin doesn't find a new exchange?
https://bitcointalksearch.org/topic/m.3257327
If Labcoin wasn't a scam, burnside wouldn't be running away right now. He is partially liable. Even the transaction fees from which he has profited from, since they were used to purchase [possibly] fraudulent shares, could land burnside in a lot of trouble. His legal barriers right now are not the "unknowns", because what is going on here is quite known.
Doesn't anyone also find it very strange the timing of these two events?
Dear Investors and Security Issuers,
As some of you may be aware a collective of security issuers and interested parties have banded together to attempt to purchase Burnside's code so that we can continue to operate the exchange, although perhaps under a different name and likely with some restrictions. If you are a security issuer please join the conversation on the recovery board (in the litecoin forum).
I am urging all security issuers not to make rushed decisions to move to a new exchange right now! Unfortunately some of you have gone to CryptoStocks.com already, which from what I can see is technically inferior and has near-zero liquidity (there are also some oddities like why VirCurEx has not paid dividends there for ages).
At CipherMine we are developing a simple tool to allow an issuer to import the .csv from a shareholder report and use that to distribute a dividend payment manually (ie. you just enter the amount and it sends that much to the shareholders). We intend to give this away to all of you for free.
BTC Trading Co does not shut down entirely for a month yet. You will be able to use the mechanisms there to distribute dividends in the mean time, and then you will still be able to with our tool or something similar.
It is the hope of our collective that we can have something operational within the next couple of months, so hopefully there would only be a short period of time where your securities were illiquid (barring manual trades of course).
To Shareholders, I cannot speak for all but most of us issuers intend to do the Right Thing and are making efforts, including committing significant personal resources, to try to look after you all.
In the mean time, please everyone hang in there and don't make panicked decisions! We will keep you posted as to developments.
Kate.
As some of you may be aware a collective of security issuers and interested parties have banded together to attempt to purchase Burnside's code so that we can continue to operate the exchange, although perhaps under a different name and likely with some restrictions. If you are a security issuer please join the conversation on the recovery board (in the litecoin forum).
I am urging all security issuers not to make rushed decisions to move to a new exchange right now! Unfortunately some of you have gone to CryptoStocks.com already, which from what I can see is technically inferior and has near-zero liquidity (there are also some oddities like why VirCurEx has not paid dividends there for ages).
At CipherMine we are developing a simple tool to allow an issuer to import the .csv from a shareholder report and use that to distribute a dividend payment manually (ie. you just enter the amount and it sends that much to the shareholders). We intend to give this away to all of you for free.
BTC Trading Co does not shut down entirely for a month yet. You will be able to use the mechanisms there to distribute dividends in the mean time, and then you will still be able to with our tool or something similar.
It is the hope of our collective that we can have something operational within the next couple of months, so hopefully there would only be a short period of time where your securities were illiquid (barring manual trades of course).
To Shareholders, I cannot speak for all but most of us issuers intend to do the Right Thing and are making efforts, including committing significant personal resources, to try to look after you all.
In the mean time, please everyone hang in there and don't make panicked decisions! We will keep you posted as to developments.
Kate.
Burnside, can you comment on these developments?
I really think this creates more legal troubles than letting it run its natural course. Example: If Labcoin can't settle to a new exchange, you could be held liable for shutting down BTCT.
I am curious..how could Burnside be liable if labcoin doesn't find a new exchange?
I think labcoin should be more concerned about finding some working ASICs tbh.
I really think this creates more legal troubles than letting it run its natural course. Example: If Labcoin can't settle to a new exchange, you could be held liable for shutting down BTCT.
I am curious..how could Burnside be liable if labcoin doesn't find a new exchange?
I know you all are busy w/ the close down. But, I don't know where else to turn as support and my PM to ya have not been answered. I cancelled a loan in progress funding on btcjams yesterday to get my asset on collateral back so, I could sell or watever w/ them. Your site crashed mid way and only 1 of my 3 stocks were returned. I've emailed btcjams, send info to btc-tc support and have pm'd you directly here with the details. I know it's just a small amount, but it's my small amount. TY.
BURNSIDE or someone PLEASE HELP. Look when your site went down the other nite I was mid transfers from btc on collateral assets. ONLY 1 of my assets were transferred correctly. My sn on BTC-TC is the same as it is here.
This the mail I've sent to BTCJAMS (who have never ever responded to my support emails regarding anything for as long as I've been on that site), and I've sent this twice to your support system on BTC-TC. Look i know yall are super busy and it's not a lot of btc, but it is mine and as of now, the time is ticking on me being able to move my 4 active shares and my labcoins have taken a nose dive which was the whole purpose of cashing em out that nite. SOMEONE PLEASE HELP!!!!
Hi, due the the closing of btctc, I deleted a loan in funding to get my assets back. I only receive 1 of 3 assets I had on hold.
I'm missing 2 of my assets
I have received:
Asset: KENILWORTH
Quantity: 20
I am missing:
From Account: SendCookies
To Account: celso
Asset: ACTIVEMINING
Quantity: 4
and
From Account: SendCookies
To Account: celso
Asset: LABCOIN
Quantity: 25
Anything not received in your account would still be in the BTCJAM account. Unfortunately there's little I can do to validate your claim, and thus little I can do to intervene. I hope that makes sense. It should be easy for BTCJAM to check out and fix up.
Cheers.
Burnside, I have tried to contact btcjams for months now. Never ne response from them. It's not that hard for you to validate. you can see the transfer to them and out from them whenever I do this. U can also see that your servers did crash at the time of me receiving the first asset and I did not receive the other 2. Look, it's a value of less than $10 and even lower now. I am already too late to transfer my active shares as that deadline has passed, and labcoin shares are who knows where now. I can write it off, but, it's the principle of the whole thing. If this is too much trouble for ya, that is fine. Please just PM me in regards to this matter as cluttering up this thread is not my intention. TY.
I really think this creates more legal troubles than letting it run its natural course. Example: If Labcoin can't settle to a new exchange, you could be held liable for shutting down BTCT.
I think you are mistaken. BTC-TC provides a platform for people to trade shares of Labcoin with each other. When BTC-TC goes away, people can still trade shares with each other. The key here is that BTC-TC is a third-party in your relationship with Labcoin, and it is not responsible for that relationship or its outcome.
I like how an exchange operator can just decide to shut down. If anything, this brings the most legal scrutiny, as people don't cope with their losses quietly..
What losses? Only holders of the BTCT.co shares are sustaining real loses. All the other securities should have stayed at market value.
If your security dropped in price because of the shutdown, because they are unable to move to another exchange, consider getting another security.
A share price drop would be considered a loss, buddy.
I know this is a sensitive subject, but there are still a lot of unknowns out there around how governments are going to react to bitcoin. Using bitcoin is thus inherently risky. In this case, the government has not reacted in a way beneficial to btct.co and thus a wind down is necessary.
If you're an alcoholic and your city council votes to go dry, do you blame the shopkeeper that can no longer sell you the alcohol? Or do you blame the city that enacted the new law?
The saving grace for everyone is that the exchange has spent a lot of bitcoins on legal fees to make sure that we have the time to let things wind down in an orderly fashion, thus preserving as much value for everyone as possible.
Doesn't sound like there is a specific reason you're shutting down, other than there being "too many unknowns". You're just guessing. Since the beginning of bitcoin people have known we would face the risk of governments talking about us, so why did it take you this long to make this decision? The risk has been around since the start. Nobody came knocking on your door.. seems to me you're just selling out. But why start the exchange in the first place then, if you're just going to pull the plug on us? You made your money, so you're out.. See, that causes a severe lack of trust from investors now in all of bitcoin land. How do you think fiat investors would feel if the NYSE just decided to stop because they made enough money? At least sell BTCT to someone, don't just bootfuck it to the ground.
Well then why don't you start your own exchange since you seem to know soo much. We still don't know the full situation and all you are doing is making accusations based on 0 fact.
Just because your Labcoin shares are dropping due to the Labcoin teams incompetence doesn't make it burnsides fault.
All of my securities took a small hit on the first day but immediately bounced back. I got out of Labcoin a while ago, too many broken promises.
Getting :
Error:
Xcoind backend failure at 135
When trying to transfer funds.
EDIT: Now getting it on all pages.
Error:
Xcoind backend failure at 135
When trying to transfer funds.
EDIT: Now getting it on all pages.
Got the same error
Should be back now.
Cheers.
Jump to: