Topic: [CRYPTOSTOCKS] Vircurex [VCX] - Going public - page 4. (Read 15521 times)

+1 +1

Kumala

How could it not be a breach of the contract even after the passing of vote #16 for whatever reason some people voted yes on that proposal ?

Vote ID #16 at cryptostocks the vote in Vircurex you mention Kumala:
"Change current process of paying out complete revenue as dividend to paying out 70% of the net profit as dividends and retain 30% of the net profits to increase the NAV until NAV reaches the value of 0.25."

Profit for May one think should have been in the neighborhood of the same as April(an up-going trend that was temporary stopped by the security breach and a few days with service not working 100%) if you diden't temporary lower the fees(to 0,1% was it ?), that might be a good thing in the long perspective(to keep customers that otherwise may go trade there coins at another exchange where that was possible) to do, but was probably negative(at least for that month) to the minority(public 30%) shareholders, so such thing you should probably have taken a vote on before doing.

Well anyway, profit was 130.65 BTC according to the May 2013 Report for the month May, if one considers full profit(0,5% fee) for 1/3 of the months volume and 1/5(0,1% fee) on the volume for 2/3 of the month then Vircurex actually trades pretty good volumes in May, volume up 11% even thou the problems you had that month.

Dividend that should be paid out according to the contract should then be 130.65 and if you had not reduced the fees probably up to around 280 BTC

Dividend according to the vote you mention, if that vote's result is a legally binding reason to change the dividend rules set in the original contract. 130,65*0,7= 91,455 BTC and around 280*0,7= 196 BTC if you had not reduced the fees for May.
The retained BTC to raise the NAV then becomes 39,195 BTC or around 84 BTC if you had not reduced the fees for May.

The shareholders(30% public shares) that effectively have voted to give away 8162*0,25=2040,5 BTC (if the vote is reason to change the original contracts rules) of there dividend for the first 12 months period when the majority owner is not entitled to any dividend to build up NAV value, effectively giving away 2040,5*0,7= 1428,35 BTC to the majority owner, you Kumala,
Those shareholders you have decided that you should punish and take another 91,455 to 280 BTC from this month and around 2300-2400BTC in total(1454 BTC 23 400 LTC and 225 263 TRC) the coming months without any support for the actions you have taken in either the contract or the votes you mention.

Would you care to answer the other questions in this thread https://bitcointalksearch.org/topic/vircurex-may-2013-report-is-this-a-joke-kumala-226366

Kumala

why is the host provider not sharing the cost of this loss for there errors?

There is no breach in contract, the dividend payment is inline with the result of request for vote #16.

You can read here https://vircurex.com/Reports/2013-05.pdf
It's mentined in this thread https://bitcointalksearch.org/topic/vircurex-may-2013-report-is-this-a-joke-kumala-226366 to.
The minority shareholders(30%), will pay the full loss in the form of no dividend(in breach of whats stated in the vircurex contract on cryptostocks) has kumala decided.
The first 12 months Vircurex majority shareholder kumala(70%) was not entitled to dividend. Now he has decided that those owning the public 30% of the shares should be the ones paying 100% of the loss in the form of no dividend for the next 9 months or so....

Where did you get this info?

I don't get why people voted for that nan or whatever increase

I don't understand how these sites keep getting hacked, I mean, if you set it up right, and the guy raise 8K BTC in the IPO plus dividends to himslef for the larger part of the shares, he can afford some decent security and IT help.


Then he take is out of dividends to shareholders, well that's a complete lack of discipline to him to run it.

~ 3 weeks and no response to this thread.

Although there is a report Kumala just published to their site indicating that investors will be taking the hit for the losses in the form of no dividends for months to come.

Here's why those people posting in this thread are confused with what you're saying.  In one line you say (Vircurex Ltx?) will acquire the business from the current owner(for 1500BTC), which would mean that at this point you no longer own it, so you would not get to sell 30%.  What it should say is that you're forming (Vircurex Ltx?), then selling a 30% stake in it.  Simple enough.

+1

Is there any new info regarding Cryptostocks being hacked?

To say the least.

Sucks for the people who bought this IPO (not that I think anyone actually did, but anyway).

I like the UI to

easy to read lots of data fast, each page is compact bu has everything

also hard to screw up a miss button press because of the release system and that it is a bit away from the sell/buy buttons

the only thing I would like is a perhaps nicer graph, with volumes
and more historical data, which would come with the graph

but I do really like the UI
read well tick
easy to use tick
hard to make mistakes tick
compact/displays lot of data tick
IT works tick

what more do you want???

money spent here may not improve the return for you or me as a share holder....but I could be wrong its you business!!!!!

No unfortunately the current downtime is unplanned and the datacenter service provider is investigating why the node went down.   

Sounds great. It would be nice if you could announce your downtime in advance though...

(Hoping current downtime is related to this)

A few changes will be published this week (mainly technically, hence not directly visible to the users but help with the overall performance):
 - Yubikey integration
 - Apache replaced with Nginx
 - Asynchronous emails which will provide a much faster trading experience (for trades that affect multiple transactions)

As for the UI, a very tricky topic, balancing simplicity with wealth of information is easier said than done. I am trying to prototype a UI based on Bootstrap but it isn't going as fast (or as effective) as I wish.

Optional UI... I like the UI as it is now, all the info I want or need...

Tho I can understand why some would want a different interface. Not everyone day-trades every possible pair like I like to do.

-- Smoov

Hi just wondering when you're planning to improve the GUI on the site? I see a lot of comments around the internet that seem to suggest if the site was more intuitive they would be much more interested in using it. Wouldn't mind updates as to what's happening with the upgrades every two weeks or so just to keep us in the loop

You have built a CS platform (took your work)  and it integrates with VCX that you have raised funds for, it would only be fair (to you) to be able to get a proper value from it, your work!!!!

also any appreciation can be sent to

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