Topic: [Dotsforbits]IPO->Closed, money will returned. (Read 4752 times)

Ditto. Promising project and it will be a real shame.

  Hate to see this train derailed... will there be any other chance to get involved in your project ?

hahaha, lol. don't worry. I'll make a doge paper wallet with a nice shibe on it or donate them to some funny cause.

original , sorry for the inconvenience , but dont think that doge and ppc are dead , you just have to HODL

damn ;(

would the refund be done in USD-valuation or the originally used currencies?

but yes: maybe a miracle... or people wait until last moment.

Hey yes the goal is 80k , will wait untill 15 june (may be a miracle will happen)    , if not will close and make a refund.

When was the info in OP (18 kUSD pledged) last updated?

Is it correct that the goal is 80k USD?

Is there a deadline for raising the minimum of 80k dollars ? 

quoting the wallet addresses, just in case ;-)

Hi!

I updated the link ! this is the correct one http://nxt.org/client-download/   (with the slash)

In the description of how to buy, you link to client download: http://nxt.org/client-download

That link is dead. Maybe link to http://nxtclients.org/ and tell people to use the java client?

I tried with the dgex client, but the asset doesn't show up in trader -> asset list. Is that supposed to work?

This is how the site will look like :

 

Thank's for your purchase ! 900 XDFB shares sent to your account, transaction id : 18169327200802989020    5/30/2014, 9:55:00 PM    NXT-E766-A3AR-3JGA-6QL4A    0 NXT    1

 Looks good. Bought some shares via bitcoin yesterday. Do I get my shares now directly to my nxt-account? Sent you an email with id to [email protected].

new article  : http://bitscan.com/articles/crypto-ipo-launched-for-domain-trading-business

Hey thanks ,  you can check out linkedin's in the first post.

From your prospectus:

"The acceptance of this document constitutes an agreement on the part of the recipient hereof
and the recipient's representatives to maintain the confidentiality of the information contained herein.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means,
electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the author."

I've reproduced your document, in whole and in part, stored it in retrieval systems, transmitted it in multiple forms by multiple means - including but not limited to electronic, mechanical, photocopying and recording - without the prior written permission of the author.
Ha!  Haha!
I haz no scruples!  

*FOR YOUR EYES ONLY!  PERSONAL AND CONFIDENTIAL!  DESTROY BY FIRE IF NOT THE INTENDED RECIPIENT!

ty, just started going through that thread and read your--so much lel!

Please elaborate/clarify to start:

"...The Company’s entire equity structure is currently comprised of Class A Shares. After completion of the offering, it is anticipated
the Company’s investors will own 25% of the outstanding shares, while current and expected insiders will retain the balance. ..." -- http://dotsforbits.com/BizPlan.pdf (your prospectus)

vs.

"...Currently, as stated in the prospectus: the shares you buy guarantee you the net profits of DotsforBits. The reason is simple: if we were to issue these shares as equity in the LTD then we would need the name and passport ID number of every single person buying shares. ..." -- https://nxtforum.org/general-discussion/comming-soon-'dfb'/40/ (your other thread)

What do the shares represent, equity or "shares of the profits"?  And what is the intended meaning of "Class A Shares" [sic] within the context of your prospectus? 

---

*BTW, Since this Bitcointalk thread was started, there was just one post in your other thread ...announcing that this one exists.
So still unsure re: "more and more [positive responses]" bit.  Perhaps an allusion to the Reddit link you once again forgot to post?



 

Lol, $80k, according to your pseudo-prospectus, represents merely 25% of this esteemed concern.
And since you are paying yourselves to code, code is as cheap or expensive as you choose to make it


Where are the links to Reddit and other forums?

Ridiculous valuation. Care to elaborate further?
We have put 80 000 dollars as bare minimum goal that will still enable us to carry out the neccessities and major parts of the business plan.
I am not sure if you are familiar with extensive software coding like this project, but it ain't cheap. Then the day to day operations of the site for at least 3 months, then add design and lastly marketing and you should have no problem seeing why 80 000 dollars is a realistic minimum. We obviously do want to raise more like ~200 000 dollars as this would allow us to do everything we want in the business plan and give us a really good start, but like I said 80 000 dollars is minimum. If that number is reached then each shareholder gets several fold more shares than they invested at. I think this is one of the points that has gone by people and we accept our mistake in not highlighting this issue clearly.

Ridiculous valuation. For that reason, I am out...

Hope you guys will raise enaugh to pull this of

Sharing your identity would reduce the amount of skeptical posts 

Most "cryptoinvestments," about 95%, end in fail and AIDS.  So I'd say it's more like Three Card Monte than dice


Where are the links to Reddit and other forums?

Ridiculous IPO... Ok you are clearly allowed to have your subjective opinion, but you have yet to explain *why* you call this IPO ridiculous.
Is it that it's a long term serious investment for once and not a throw of the dice like most cryptoinvestments?
We've already raised ~12 000 dollars of our minimum 80 000 dollar goal with minimal promotion. It's first now that we got everything ready that we have begun promoting this IPO.
I really dislike people who just come to talk negatively without any constructive criticism whatsoever.
Give me some actual feedback or I will simply ignore your spam from now on.

A bit tired of ridiculous IPOs, I guess.  Links to your Reddit and other forums?

What's with your attitude man?
We have this IPO on more forums + reddit. We have also recieved several domain offers and questions on PM over the last 24 hours.

One positive comment in two pages of posts = "more and more." <==Technically agree with the "more" part (one is more than zero), but "more and more" implies a trend...
Hope your "codes" aren't equally overexuberant

Thanks! Glad to see more and more people seeing the potential!

Congratulations, man! This is looking very promising.

WTF is "codes"?

Trades on NXT Asset Exchange:

Date                    Quantity   Price   Total   Ask Order ID   Bid Order ID
23/05/2014 06:53:42   20   15   300   2555379443853192087   11727285596300236855
22/05/2014 21:56:14   22   15   330   2555379443853192087   8764624237745144266
22/05/2014 17:09:12   3.9   15   58.5   2555379443853192087   3390670659353777263
21/05/2014 22:26:03   825   15   12375   2555379443853192087   14510491729189199352
21/05/2014 20:43:23   100   10   1000   7814381488664814077   266059960570006912
21/05/2014 17:44:32   60   15   900   2555379443853192087   18006595740117300130
20/05/2014 22:23:55   515   15   7725   2555379443853192087   9927566491263640268
20/05/2014 22:22:45   177   14.99   2653.23   729980586275634453   6778810482365239991
20/05/2014 13:35:23   13   14.99   194.87   729980586275634453   1654892209305408764
20/05/2014 04:57:42   10   14.99   149.90   729980586275634453   3852553530822918106
19/05/2014 05:34:38   558   15   8370   2555379443853192087   336905780498006625
18/05/2014 18:51:43   100   15   1500   2555379443853192087   15912724739910570658
18/05/2014 10:45:17   5   7.5   37.5   4102407251097554970   7478372152232129055
18/05/2014 10:45:17   26   7.5   195.0   2634029953385496789   7478372152232129055
18/05/2014 10:39:37   250   10   2500   15100084521768204974   14913555811762198541
18/05/2014 07:56:50   9   12.5   112.5   4423110548433953993   11078439009378582710
18/05/2014 07:08:21   100   15   1500   2555379443853192087   17981470032954925009
18/05/2014 07:02:38   200   15   3000   2555379443853192087   16701425257296826539
17/05/2014 20:13:59   3000   15   45000   2555379443853192087   1599888154733985073
17/05/2014 20:10:51   146   14.5   2117.0   4403530343478248765   11505154652130858776
16/05/2014 19:34:37   4   14.5   58.0   4403530343478248765   17904009636939631672
16/05/2014 09:11:09   10   15   150   2555379443853192087   9826057438533995623
15/05/2014 06:04:22   10   15   150   2555379443853192087   651700291326703424
15/05/2014 03:26:49   10   15   150   2555379443853192087   10303005253072701875
15/05/2014 00:05:09   0.01   15   0.15   2555379443853192087   17207527787581314716
14/05/2014 09:38:27   3   15   45   2555379443853192087   10388210007991655726
14/05/2014 05:46:53   35   15   525   2555379443853192087   12182928234213719846
14/05/2014 05:32:09   15   15   225   2555379443853192087   18026204116065577562
14/05/2014 04:57:14   276   14   3864   18235897846613329388   4172515473259738305
14/05/2014 03:54:27   1   12.5   12.5   1918601732505143306   11078439009378582710
14/05/2014 02:23:24   20   14   280   18235897846613329388   12666735378996342760
14/05/2014 01:25:36   10   15   150   2555379443853192087   2873610012224651167
14/05/2014 00:23:09   200   10.01   2002.00   15985484754901229312   17904638928341277549
14/05/2014 00:23:09   99   12   1188   15985484754901229312   1217277578866644253
13/05/2014 21:30:30   1   12   12   11782877424688533249   1217277578866644253
13/05/2014 20:59:04   1   14   14   15500821159756266543   14975942173108219057
13/05/2014 19:35:53   1000   14   14000   15500821159756266543   13476365735025320100
13/05/2014 18:36:41   200   14   2800   15500821159756266543   14725038412219220001
13/05/2014 18:18:56   600   15   9000   2555379443853192087   10863788554210474864
13/05/2014 15:14:32   5   15   75   2555379443853192087   597853838631654416
13/05/2014 12:58:25   100   15   1500   2555379443853192087   837531711344215896
13/05/2014 12:03:43   300   15   4500   2555379443853192087   4041316674413274324
13/05/2014 10:10:23   10   15   150   2555379443853192087   15228694480748106112
13/05/2014 03:41:52   10   15   150   2555379443853192087   14907987564902735403
13/05/2014 03:35:21   100   15   1500   2555379443853192087   6183779521103547821
13/05/2014 02:45:02   220   15   3300   2555379443853192087   7993536071890605130
13/05/2014 02:45:02   100   15   1500   2555379443853192087   12275139951981151241
13/05/2014 01:37:12   50   15   750   2555379443853192087   8064286643142189183
13/05/2014 01:37:12   30   15   450   2555379443853192087   11090501249059827189
12/05/2014 23:18:21   50   15   750   2555379443853192087   7669834431712018934
12/05/2014 22:21:35   10   15   150   2555379443853192087   4098568197090125519
12/05/2014 22:16:23   100   15   1500   2555379443853192087   1224345586858532108
12/05/2014 21:50:27   50   15   750   2555379443853192087   5554158294327762520
12/05/2014 21:50:27   150   15   2250   2555379443853192087   10643098140903476934
12/05/2014 21:06:00   200   15   3000   2555379443853192087   10383903731942411314
12/05/2014 20:49:20   100   15   1500   2555379443853192087   206624593392279744
12/05/2014 19:32:02   1670   15   25050   2555379443853192087   7558505102963661501
12/05/2014 18:55:38   200   15   3000   2555379443853192087   12058964595538062991
12/05/2014 18:36:35   203   11   2233   747775119539454128   1130211388203517401
12/05/2014 18:36:04   50   15   750   2555379443853192087   1468818624204730429
12/05/2014 18:34:33   10   15   150   2555379443853192087   1247103390949196494
12/05/2014 18:32:10   1   15   15   2555379443853192087   9775598269272829362
12/05/2014 18:29:20   100   15   1500   2555379443853192087   14910129188206982279
12/05/2014 18:20:57   17   15   255   2555379443853192087   10540465628240659864
12/05/2014 18:18:18   10000   15   150000   2555379443853192087   2010066680450639251
12/05/2014 18:18:18   200   15   3000   2555379443853192087   12105551626649700109

That's obviously your choice This is a long term investment in a serious business, not a altcoin that you hope to see double overnight.
Either we raise the minimum or we don't. If we don't then everyone gets their money back anyway.

I will definitely be skipping this one.

Hello!
Development, marketing and initial day to day operational costs of course.


Yes, we are building it ourselves, but we also hire in people to the tasks we are not professionals at.
 In the first months of operations we will have a 7 man staff that will obviously need wages.
Servers are just a tiny part of the costs. Design, branding and marketing is where the big costs come in. We are very confident in our product, but for the product to be used it needs aggressive marketing.

We do have a lot of this product done already, but it's codes. Do you read codes?

What, specifically, do you plan to spend our money on?

You mentioned building this yourselves, as part of the 75% ownership stake you deserve, so I don't see much in the way of development costs.  This is a lot of money to spend on servers.. and you don't have a product to show us yet.  Are you planning on using the money to pay yourselves while you develop the project?  Spending it on advertising?  Speculating on domains?

He obviously did it as a gimmick! He goes by his previous name in real life still. You have to understand that this is something he did during the height of the dotcom bubble when "dot com" was as much of a buzzword in the media as Bitcoin is today.
I don't see how having a little fun equals to mental illness, but I'm pretty sure you were just joking anyway.

He changed his name to .Com ;P that should tell you enough about how serious he is about domains. He has also written a book that he is going to publish on the subject. His software expertise will help immensly with our business and he has been working on a appraisal tool (has a lot of other useful functions too) that already blows all our competitors out of the water for years.

So anyway: back to topic

I'm passionate about vintage audio gear.  Most don't find that exceedingly peculiar.
Changing my name to Triode Strapped Beam Pentode, OTOH, might raise a few eyebrows.

*Also, not sure how a career in software translates to flipping domains.

Let's hope for both our sakes that we are right and you are wrong
By the way, if you got some domains laying around that you don't have any big plans for, we have just launched a "Domains for Shares" promotion here: https://bitcointalksearch.org/topic/got-domains-dotsforbits-want-them-623393

Well that's the point! The New gLTDS are coming and there is a lot of money to be made. Also don't forget about the Chinese, Indian, African and Latin-American markets that are just now really starting to sprout. Couple these with the cryptocurrency growth and you have a recipe for a nice profit. These markets just need more exposure in order to educate the masses, we see our business as a Gateway to this sector

There is no doubt a growing demand for domains. I'm just not as convinced as you are about quite how much The more people involved in this sector though the better.

Thanks, I forgot to mention one more crucial point:
These shares will be 100% tradable on the NXT DEX, so if any investor for some reason wants out, he can trade them there. So a significant portion of the risk is lowered by having that option too.

We are working hard on building the core business and have come a long way and decided to seek funding now to complete and make this a reality as soon as possible. But I respect your personal opinion.

We are going to apply to become a official registrar as soon as we start turning a nice profit. If this includes selling more shares, then so be it. We mention this in our business plan too. So we *do* plan on going all the way, but we have to take it in incremental steps. Gaping over too much at once is even more risk!

Hopefully you'll be a customer of ours in the future and the domain and crypto world keeps growing, which will be in both our interests

Back in the days the guy was pretty crazy...about domains.
Wouldn’t call a guy with this background a mental disordered ? !

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Any way thanks stopping by.. and have a good day!

Thank you for your reply.

$250k funding still is a lot of investor risk for 25% equity in a non-operational business.

Domain businesses can be scaled up quickly.

Build the core business, then ask for seed funding would be my opinion when you have actual data and figures to back up your projections.

IF you were asking a reasonable amount of money to apply to become an official registrar and wanted to be the first crypto registrar then I'd be interested since I believe that is something lacking at the minute, however, your advantage in the market cannot only be based on being involved in the crypto community and being first-movers. That's not good enough in my opinion.

Welp, not going to be needing DSM-5 for this one. 

Could you please elaborate on what you mean by incomplete?
You mention some valid concerns in your post, but not really asking for much more details, so it's hard to know how to "complete it" to your satisfaction without further details.



Linkedin and NXT community involvement since it's inception should cover the first in terms of our crypto-involvement. We are all crypto-enthusiasts and all have been in the domain game for years, 2 professionally.

The valuation is based on several different factors, but I can understand your skepticism, so I'll do my best to shed some additional light on it:

Firstly we are getting funded entirely by cryptocurrencies, so as you probably know even if we raise the total amount it will still carry a big risk until we sell it through the exchanges. By then the value of either of these cryptos can have sunk significantly, so this risk is calculated into the sum we hope to raise. Pretty much every other IPO ever conducted has not had to worry about this, so it's a completely new element. But that comes with the territory of being innovative in a new and emergent market. A challenge which we accept.

Secondly, we are not just going to sell some domains. We are aiming to be a serious contender on the domain marketplace, parking and appraisal scene. Since you are already very familiar with the selling part I am a bit puzzled as to why you find it hard to believe that such a business will be worth 1 million dollars? Add parking and the appraisal business and the 1 million dollar evaluation suddenly don't seem to be a lot at all.

Thirdly, we are the absolute first serious company in this market that will accept all the major cryptocurrencies. This market alone is huge and continues to grow weekly. Having first mover advantage and branding/marketing here is a big deal.
This is also why it is so important to us to have a good and genuine relationship to the cryptocurrency scene. We donated NXT.org (bought for 15 000 dollars) and had it developed, just to help out the community. This sort of relationship is not something one can easily purchase. We have put months upon months into crypto activism.

Also regarding software, we do have software started and infact our appraisal tools are completely cutting edge and unlike anything in the domain game yet. It has been under development for years. But as you probably know, development and marketing cost money. Quite a lot of money. And as the numbers show: a significant sum of this will go directly to transfer-repository fees.


I think you should go back and re-read the plan, the $300m number is only one of the variant projections.
We have a conservative one, realistic one and optimistic one.
Conservative for 2018: 7.9 million, realistic ~100million (if everything goes smooth and the domain market keeps growing at a steady rate, as experts and all available numbers suggest) and then 250 million or the optimistic one.


Everyone is allowed to have their own opinions, but please read the full business plan and see the actual numbers before latching onto one tidbit and try to denounce our entire efforts based on that out of context.


Would never ever moderate anyones post in any shape way or form. I am happy to answer all questions you might have and don't mind at all that you raise your valid concerns. It's good to settle them and hopefully provide you with satisfactory answers!


Even with the very conservative estimate people are looking at more than 40x ROI. Of course there is going to be risk, but nothing comparative to the risk of dealing with altcoins in the first place.
We are trying to build a serious business based around this and think everyone understands that there is inherent risk in any investment, but we are also confident that our business plans and answers will make it easy for people to make up their own minds.


Tens of thousands and hundreds upon hundreds of hours of work. Not sure what would satisfy you as financial proof.


Thanks! I hope you find my answers clarify some of your concerns.

You say your business plan notes in painstaking detail but your business plan is shockingly incomplete.

I would be interested to know the background of the people founding the company. Also 25% equity is not going to cut the mustard for $250k... Valuing the company at $1m is just absurd as at the minute you have absolutely nothing... according to the report you haven't even developed any software etc...

It doesn't matter how well presented a business plan is, if the underlying figures are so negative.

You emphasise throughout the plan of your huge forecasted figures but these are not at all realistic... $300m in 2018. Come on really...

I would know this because I currently sell domains and I have a large portfolio as well as experience in this sector. Domains are very illiquid. You will not make $1m let alone $300m in my opinion.

Moderate my post at your will but these are the kind of thoughts any potential investor in your business are going to be coming up with.

The equity is not even remotely comparable to the risk.

How much cash have you founders put up yourselves in this project already? Financial proof of this?

So many points to be raised but these are just some of the main ones.


Best of luck with your project.

Why are we raising money? The business plan describes this in painstaking detail.
Opening up a domain market is far from free, all the math is in there for you to confirm

We are trying to improve the domainmarket trade, yes, current fees are ridiculously high and noone accept the major cryptocurrencies. With the growth of cryptos we see a huge untapped market here.

Why are you even raising money? Why do you need it?
Is it to get rich or to improve anything?

Yes:)

Does your site offer brokerage services like sedo?

reserved

The fund-raising is over.
Unfortunately the project did not got funded, all money will be returned to the people dooring the next week, so please put up sell orders at 15 NXT/share to get the money back , I will start buying them back after will receive the shares from the altcoin investors.

The fund-raising is over.
Unfortunately the project did not got funded, all money will be returned to the people dooring the next week, so please put up sell orders at 15 NXT/share to get the money back , I will start buying them back after will receive the shares from the altcoin investors.