Topic: CRYPTNEY- Bringing Crypto Currency to the Masses! (Read 3164 times)

[quote  uthor=Scottbit link=topic=656861.msg7497884#msg7497884 date=1403651362]
Looks interesting, but your claims are without visible background.

As I understand, you are also running River Boat Bitcoin Casino? http://www.riverboatbitcoin.com/contact_form.do
Why there is no contact information ?

2003-2014? Who are you kidding



Also, Why is this thread self moderated? Are you afraid of something?
[/quote]

If you were actually good, at research you could figure the casino thing out for yourself...
I will just tell you since you seem not to be able to research yourself, I bought the license to the site it has been operational since 2003. Would you like to know how much I paid for it? TOO BAD. But I have made 30x what I paid for it  . Its managed by a company that supplies the help and all the day to day activities. All I do is collect the money at the end of the month. If you send a message to the support I can assure you it will be answered.
The thread is self moderated to keep off topic post off the thread, if you read the thread you could see that as well.
I have no problem answering questions but I will not keep repeating myself.

Pretty irrelevant, not many people have the experience. Hell CEO of Bitstamp/Kraken/etc don't have experience.

As for crypto capital I don't recognize that address but that is not the only license they hold. Also registered with SWIFT (among other things)

Ill look around and check, thats a very good question.

Fair enough.

As far as proof of experience, it seems that you may have to post some personal information in order to keep things on the level. Is there any websites or 3rd party sources that can verify the experience? Certificates or degrees?

I will delete any off topic trolling type posts, keep it on topic and related I have no problem addressing it. But smart ass comments will be deleted.

Why did you delete TwentySeeventy's comment?

I am sorry it is not up to your standards, If you would like me to go through a work week and detail you ever skill I use I could certainly do that.

A little more information about your experience would be greatly helpful. Unfortunately, we have no way to verify the claim of experience. So veracity of the experience would be cool. Not trying to tear you a new asshole but you have to give a little to get a little. Writing three sentences that basically amounts to "I'm really good at financial stuff, trust me but not gonna post any sort of proof cause just trust me."

I suspect you see the issue, right?

I would answer you, but I feel if I did it would not be good enough regardless. What type of evidence would you like? If your talking about identity type verification that is explained in the IPO.

Still waiting on my answer(s).

Pre-IPO sale, bonus shares when purchased.

Buy 100 get 10 free.
Buy 1000 get 125 free.
Buy 10000 1500 free.

Limited to 15,000 shares of pre-purchase.

Message me for instructions on purchase.

They have the same MSB I can get for free.... They also have made it look as if they are a precious metals dealer. Not sure the GOV is going to like that.
https://www.google.com/search?q=NICHOLS%2C+JUSTIN+A+10200+GANDY+BLVD.+N.+%23411+ST.+PETERSBURG%2C+FL+33702&oq=NICHOLS%2C+JUSTIN+A+10200+GANDY+BLVD.+N.+%23411+ST.+PETERSBURG%2C+FL+33702&aqs=chrome..69i57.1048j0j7&sourceid=chrome&es_sm=0&ie=UTF-8
 
One of the owners does have a criminal record but I do not see it of any importance to the company standings.

They are not a MST in the state they are registered to do business in, this is illegal if they are providing financial services. I know what they are going to say we are registered in Panama yadda yadda yadda.
Guess what Noreiga was the president and it did not stop the U.S. the owners and the LLC are out of FL.
I would start to question them if I was you about MTS # and how they plan to not get shut down by FL, banking commission.

Ok, thanks.

Every coin can be considered depending on the risk level, ex. script audit, IPO holder background.

Interesting...do you have any plans to list Nxt-like coins, or are you going to stick to regular altcoins?

Yes, not only that we would place the funds in escrow and use a draw system for transparency.

They have over 1700 registered users with an ok marketing expenditure. At current volume thats less than .0001BTC of volume per user every day. I guarantee these users are trading at mintpal, Bter, cryptsy etc.

The idea of offering vouchers isn't unique either, crypto-trade offers vouchers (another altcoin exchange + real USD exchange), and there are BTC vouchers available to the public (multiple BTC voucher companies I believe) that people can than exchange at these sites.


Would you refund investors if the quota is not met? You need to sell at the very minimum 10% of these shares just to purchase the exchange, and if thats all that is raised (I don't think it would even hit that TBH) your taking a 10% cut for doing just about nothing.

Well this thread is pretty ironic.

In any case, do you even have the necessary experience to run an enterprise such as this one? What makes you qualified to not only manage this security but essentially do what you purport.

Please do provide 3rd party references.

Cryptocapital.co

Wish you the best of luck!

I do, and the price we offer will reflect such. It lacks brand awareness how many people had heard of this exchange before today?

Distressed business can be turned around and made to be profitable, it just needs some work. I am willing to put in that work.

You do realize, that this site is currently operating at a loss? Even if they charged fees, the expenses are 5x what the income would be. Its ridiculous

Do you have a web link for them? I can not find anything on them.

No upfront capital required

If you are on my  investors mailing list this is the email number. Please cross check.

To confirm email please match numbers.
Private investor email #134252

He is probably going to suggest to use cryptofinance to handle fiat.

I do no think the company will offer this service for cheap and they may not be able to deliver what they promise.

Well speak up.

A better question would be "how can I get around this" and that is something I can help with.

No. But you are a money transmitter.

Doesn't matter how you receive the funds, if you are allowing cashout via ACH/WU you are transmitting funds.

Its not a payment company...

This would be the stored value card company
A “Money Transmitter” is defined as “Any person … who engages as a business in accepting currency, or funds denominated in currency, and transmits the currency and funds, or the value of the currency and funds, by any means…” or “any other business engaged as a business in the transfer of funds”. Although this is as all-encompassing a definition as one can imagine, there are some exceptions: (i) transmission of funds where the transfer is incidental to a transaction for goods or services (other than money transmission) for which the money is paying; (ii) providing delivery, communication, or network access services to a money transmitter to support money transmission activities; and (iii) processing payments through a clearance and settlement system by agreement with a seller or creditor for purchase of, or payment of a bill for, a good or service. -

It would function as is, until we can build up momentum. Focusing on alt-coins that are pre-vetted for code security and owner fraud.
It will also take time to get the system in place to take the stored value cards, it will take a direct plug into the exchange to activate the stored value.
If we were to build a exchange from scratch it would have to be PCI compliant, with this one already having bank level security it would be another cost not incurred.


No but that's what the MSB is for take CoinRNR for example

Its bringing it to the masses but targeted the average user. Want to see a segment not serviced? Look at local bitcoins and see how many people you will find that sell 25$ or 50$ dollars in coins.
The simple matter is if you can only buy bitcoin in large amounts at a time it creates resistance in the market place. Its all about finding the least path of resistance in the market place.

http://paymentsviews.com/2012/08/13/so-you-want-to-start-a-payments-company/

There you go, you are talking millions of dollars thanks to the bonds.

Don't get me wrong, you help out this community a lot with keeping security operators in line, but that line right there made me cringe. Your not shark tanking anything, your litterly funding something that might  happen exclusively with other people's money, thats not being shark tanked, thats you getting a 10BTC for free (Putting in effort to grow value of the business, which in turn grows your 10BTC share).

Here is the biggest reason this will fail:
Most people have no clue what bitcoin is. Not to mention dogecoin, methcoin, potcoin or other coins that frankly the public will never be interested in owning. Infact, methcoin / potcoin and other shitcoins make people not want to purchase bitcoin. Realistically, bitcoin, litecoin and other investor / customer friendly coins are the only ones that succeed. You won't be able to take this mainstream.

Even more realistically:
Even the most successful IPO's in cryptoworld don't sell out. You will be lucky to sell even 30%-40% of the 100k shares for sale. Your marketing budget will quickly be eaten, leaving a small operating budget as the revenue of this site is currently 0, with a small daily volume.


I wish you the best of luck, but I can't see this working

Except you can't umbrella under their license for WU/ACH etc.

It is financially impractical to handle fiat as a start up. Easier to start from an alt coin exchange to slowly work up from there.

MSB is free
http://www.fincen.gov/financial_institutions/msb/

What will cost will be KYC/AML integration, I do not see a large overhead for this.

We are using a pre-licensed Money Transmitter to do the stored value cards, so we will umbrella under his license on that aspect.

Wasn't directed at you, was directed at RiverboatBTC

Just trying to find a good deal like what you are doing here. No need to get personal.

This was addressed already lol

I can not give you revenue as current owner is letting people use the exchange fee free... He also does not have a way infuse liquid cash into the site which limits its earning potential.

I wanted to keep 20% but I am willing to shark tank it, 10% of something is better then 0% of nothing. I will go about buying more shares in the future.


While I do understand this is a startup and the value VS what we need of course not look great. But try to see it from a potential future value. Customers tend to follow the path of least resistance, that's why box stores do so well. When people can walk into walmart, scan a qr code with their phone and the money is in their account you will see a swift move to our exchange.
The money does not just go to exchange purchase but also, Regulation, formation of entity, initial purchase of 100k encoded stored value cards, liquid capital for bank accounts.

Bex.io wants 25k liquid and they take 50%  off all profit  .

You'll need more money for that one...

He uses the remaining 90% of your BTC to do marketing etc. He never mentions how he profits in here, just says 50% dividends, 25% reinvestment, 25% reserves. Also just says 100k shares for sale, doesn't mention how many he is holding. I wouldn't even consider buying into this if he is keeping more than 10% of the business to himself as a management fee, more than that would be ridiculous. If he wants more than that he should buy shares like everybody else.


Also, since you publish reports on people, can we see the report on YOU?

Valuating a 10 btc new high risk start up project at 100 btc isn't a little too much?

Reserved

To confirm email please match numbers.
Private investor email #134252

Pre-IPO




IPO Details

https://www.youtube.com/watch?v=6KgBomoHO3c

The current offering
100,000 shares for 0.001 BTC per share. Pre-IPO block for a discount available contact me for info

Future Offering
A further block of shares may be raised, these blocks will NEVER be sold for less then the first IPO.  To reward early investors,  a higher price than the initial 0.001 BTC per share shall be offered.  

Return for investors
All profits from the exchange will be 50% dividends 25%, capital reserves, and 25% business reinvestment and development.


Discount on trading fees for all investors, investors buying more then 3 BTC worth of shares will have 6 months free trading.


Capital Allocation
Exchange for sale- We have found a nice exchange going up for sale that will save us money and time. "https://coinnext.com/" we are talking to the owner right now. Its up for auction starts at 10btc, no bids as of yet and it goes on till the 30th.
Adding of voucher system to exchange (Talked to the exchange dev said it would be simple)
First run of stored value cards
Addvertising--- Lots and lots of advertising.
Gov Regulation compliance.



Great Market opportunity
Cryptney will be the the first exchange in the world to have stored value cards on the shelf at big box retailers. Bringing Crypto Currency to the Masses at big box retailers will give us a competitive advantage over other exchanges and services. Our thought is buy Milk, Eggs, and your crypto coins in the same place.
We will also offer WU, and Bank Deposit Methods.
Cash outs will be handled in 3 ways ACH, Direct to Debit/Credit Card and paper check.

The opportunity is for growth is great, stored value cards can be placed around the globe, this allows for regions with non traditional banking to have access. Stores we have been in talks with to get the card on the shelfs

https://www.youtube.com/watch?v=siMZHRlBiQs





Our Security
Security will be bank level compliant.To guarantee that we will not be another victim of bitcoin hackers and fraud we will have outside financial audits open for the public to see.
The software we plan on purchasing has already been security audited by https://www.crowdcurity.com/
Two factor authentication will be implemented through Authy and Google Authenticatior.

Coins
Any coins offered on our site must be vetted, we do not cover the cost of this it is a cost incurred by the listing coin.

Compliance
We will comply with all Laws, if we see new regulation coming in the future we will be proactive in the event it is passed.


Management team:
CEO- D. Stallworth 7 Years in financial underwriting and collections of subprime lending for a in house financing company. Experience in Gov compliance, cost saving strategies, investor relations, and all around great guy  . Any type of supporting documents can be produced, I will not publish them due to my current business on this forum.


Fee Sturcture
No deposit fees

Withdraw fees
ACH 6$
24 Hour wire 35$
Direct to Debit/Credit (TBA)

Fiat - Bitcoin trades
Fee % At 30 day volume
0.3    At < $1000
0.28  At < $5,000
0.23 At < $25,000
0.18  At < $100,000



This will be updated, when updated a note will be made. Trolling will not be tolerated, I am open to actual discussion about topics.