...and I am led to believe they are not just with a single bank, which further diversifies the risk.
Care to mention who or what "led [you] to believe" that?
Topic: [HAVELOCK] Crypto Financial (CFIG) Official Thread - page 7. (Read 68711 times)
Care to mention who or what "led [you] to believe" that?
...and I am led to believe they are not just with a single bank, which further diversifies the risk.
Care to mention who or what "led [you] to believe" that?
That would be great if realized. Translated into Chinese and posted here.
Does it create a single point of failure as CFIG being the only fiat access?
Yes and no. As previously stated they don't have to be the only ones on the market, and I am led to believe they are not just with a single bank, which further diversifies the risk. Does it create a single point of failure as CFIG being the only fiat access?
That would be great if realized. Translated into Chinese and posted here.
Does it create a single point of failure as CFIG being the only fiat access?
Does it create a single point of failure as CFIG being the only fiat access?
Quote
From the Prospectus:
We intend to furnish virtual stock holders with quarterly reports containing relevant
financial statements.
On a monthly basis Crypto Financial will distribute dividends solely to unit holders on Havelock until the
accumulated dividends total ฿0.15 per unit. Moving forward from that point, dividends will be
distributed equally among Havelock unit holders and private unit holders. One Hundred Percent (100%)
of all net income derived from the exchange of Fiat Currency to Crypto Currencies and vice versa by
Crypto Financial will be paid out in dividends
We intend to furnish virtual stock holders with quarterly reports containing relevant
financial statements.
On a monthly basis Crypto Financial will distribute dividends solely to unit holders on Havelock until the
accumulated dividends total ฿0.15 per unit. Moving forward from that point, dividends will be
distributed equally among Havelock unit holders and private unit holders. One Hundred Percent (100%)
of all net income derived from the exchange of Fiat Currency to Crypto Currencies and vice versa by
Crypto Financial will be paid out in dividends
Have there been quarterly reports published? When is the next one due?
Are there any paying customers yet?
What does net income mean exactly? What are the costs that are taken out of that net and how much money needs to be made before we start seeing dividends? Are they something you imagine will come in the near future or far off?
And what is your marketing plan? I haven't seen anything about this on reddit or anywhere else except buried in this thread. Are large potential partners seeking you out or do you need to find them? Or perhaps there are still kinks that need to be worked out before a big marketing push?
As for partners, we're going to be one of them hopefully.
Quote
From the Prospectus:
We intend to furnish virtual stock holders with quarterly reports containing relevant
financial statements.
On a monthly basis Crypto Financial will distribute dividends solely to unit holders on Havelock until the
accumulated dividends total ฿0.15 per unit. Moving forward from that point, dividends will be
distributed equally among Havelock unit holders and private unit holders. One Hundred Percent (100%)
of all net income derived from the exchange of Fiat Currency to Crypto Currencies and vice versa by
Crypto Financial will be paid out in dividends
We intend to furnish virtual stock holders with quarterly reports containing relevant
financial statements.
On a monthly basis Crypto Financial will distribute dividends solely to unit holders on Havelock until the
accumulated dividends total ฿0.15 per unit. Moving forward from that point, dividends will be
distributed equally among Havelock unit holders and private unit holders. One Hundred Percent (100%)
of all net income derived from the exchange of Fiat Currency to Crypto Currencies and vice versa by
Crypto Financial will be paid out in dividends
Have there been quarterly reports published? When is the next one due?
Are there any paying customers yet?
What does net income mean exactly? What are the costs that are taken out of that net and how much money needs to be made before we start seeing dividends? Are they something you imagine will come in the near future or far off?
And what is your marketing plan? I haven't seen anything about this on reddit or anywhere else except buried in this thread. Are large potential partners seeking you out or do you need to find them? Or perhaps there are still kinks that need to be worked out before a big marketing push?
Why assume that Crypto Capital will be the only place for exchanges. Plenty of room for many companies working in the crypto-realm.
Exchanges will need to be qualified to run an exchange on top of our platform.
If you run an exchange in Mexico or Thailand for example, your main customers will be from your country and with Crypto Capital you will have more liquidity as everyone else on the Crypto Capital platform will be able to also trade at your exchange instantly.
Don't forget that there are many Bitcoin related companies out there today that can't get a fiat account only because they accept Bitcoin for their business.
With Crypto Capital they will be able to manage an international account on a global level and interact in fiat when they need to with other crypto or non crypto related business.
This service is not only for exchanges.
Thank you,
CFIG
Exchanges will need to be qualified to run an exchange on top of our platform.
If you run an exchange in Mexico or Thailand for example, your main customers will be from your country and with Crypto Capital you will have more liquidity as everyone else on the Crypto Capital platform will be able to also trade at your exchange instantly.
Don't forget that there are many Bitcoin related companies out there today that can't get a fiat account only because they accept Bitcoin for their business.
With Crypto Capital they will be able to manage an international account on a global level and interact in fiat when they need to with other crypto or non crypto related business.
This service is not only for exchanges.
Thank you,
CFIG
Another issue is by lowering the bar, they're opening fiat/crypto trading to a lot of incompetent people (just look at altcoins exchanges...).
The fact that CFIG will make starting an exchange easier for incompetent people is something I've worried about since hearing about it. Hopefully it ends up being expensive enough to set up an exchange account that idiots will be dissuaded.
TraderTim clearly doesn't know how difficult it is for one to get a bank account for anything related to bitcoin, especially as an exchange.
Wells Fargo is especially bad. Walk into a branch, bring up bitcoin and bam your account is closed
Wells Fargo is especially bad. Walk into a branch, bring up bitcoin and bam your account is closed
We handle the Fiat account side. Exchanges handle the engine matching crypto to fiat side.
So "only" the fiat side is centralized. What a truly innovative system you've worked out. With fees to match, I'm sure.
I'll just call it right now - its a plain old money-grab, and it will end in tears.
We handle the Fiat account side. Exchanges handle the engine matching crypto to fiat side.
So "only" the fiat side is centralized. What a truly innovative system you've worked out. With fees to match, I'm sure.
I'll just call it right now - its a plain old money-grab, and it will end in tears.
We handle the Fiat account side. Exchanges handle the engine matching crypto to fiat side.
Awesome, so now there's a centralized clearinghouse for exchanges that only needs to be compromised once to have a Goxxing of truly epic proportions.
Also, I'm not holding my breath on the "provably solvent" part, either.
1) They only hold fiat in escrowAlso, I'm not holding my breath on the "provably solvent" part, either.
2) No need for them to go fractional, they will make enough from the fees they put on exchanges.
3) The way it works means even if one exchange acts irresponsibly they will be fine.
The only ways this could screw up are
a) they are intentionally negligent.
b) their bank accounts are closed.
Either Havelock of CFIG may correct me on this, but that is the impression I have.
4) There is no need to believe that CFIG would be the only central clearing house for something of this nature. Competition will inevitably arise.
This service is desperately needed to take bitcoin adoption to a higher level because it is the fiat conversion that provides the most friction right now in terms of fees and time.
Awesome, so now there's a centralized clearinghouse for exchanges that only needs to be compromised once to have a Goxxing of truly epic proportions.
Also, I'm not holding my breath on the "provably solvent" part, either.
1) They only hold fiat in escrowAlso, I'm not holding my breath on the "provably solvent" part, either.
2) No need for them to go fractional, they will make enough from the fees they put on exchanges.
3) The way it works means even if one exchange acts irresponsibly they will be fine.
The only ways this could screw up are
a) they are intentionally negligent.
b) their bank accounts are closed.
Either Havelock of CFIG may correct me on this, but that is the impression I have.
Awesome, so now there's a centralized clearinghouse for exchanges that only needs to be compromised once to have a Goxxing of truly epic proportions.
Also, I'm not holding my breath on the "provably solvent" part, either.
Also, I'm not holding my breath on the "provably solvent" part, either.
Thank you. But sign up and spread the word...
The service is only as good as the users and the exchanges.
The service is only as good as the users and the exchanges.
They never applied for a bank license as they will never use your deposit to fractionalize your funds and loan them out. As they always stated they are a fiduciary financial services company licensed by MICI which is the commerce department which handles international financial and remittance license. The license allows them to accept, manage and transmit funds internationaly and act as an escrow service for exchanges and customers. The online platform allows users, exchanges and companies working in the Crypto realm to have a fiat account and interact seemlessly and without friction within the platform, solving the fiat issue plauging exchanges. In short they have with one license what you would need from 50 different states from the US. Still early in Panama they will answer more questions as they come online.
If you review everything they always corrected people that assumed that they will act as a bank.
Sent from my mobile, so may look better in my head!
If you review everything they always corrected people that assumed that they will act as a bank.
Sent from my mobile, so may look better in my head!
Thank you for your reply, and for your patience!
Congratulations on a great service, and I wish you much success.
They never applied for a bank license as they will never use your deposit to fractionalize your funds and loan them out. As they always stated they are a fiduciary financial services company licensed by MICI which is the commerce department which handles international financial and remittance license. The license allows them to accept, manage and transmit funds internationaly and act as an escrow service for exchanges and customers. The online platform allows users, exchanges and companies working in the Crypto realm to have a fiat account and interact seemlessly and without friction within the platform, solving the fiat issue plauging exchanges. In short they have with one license what you would need from 50 different states from the US. Still early in Panama they will answer more questions as they come online.
If you review everything they always corrected people that assumed that they will act as a bank.
Sent from my mobile, so may look better in my head!
If you review everything they always corrected people that assumed that they will act as a bank.
Sent from my mobile, so may look better in my head!
We have already registered with SWIFT http://www.swift.com/bsl/facelets/bicsearch.faces;jsessionid=Ash3ntNdZP2VzC9EY17-NsSBLj_DMY8MVICBmQkT
Just enter our name and the captcha
You can check the Panama Government site for our Operation License at:
https://www.panamaemprende.gob.pa/publico.php?pag=certificAO&anio=2013&ao=42273&Suc=614116&a_buscar=__crypto%20capital______&np=
Also you are welcomed to come and visit our offices at any time. We have personally met with several companies in the Bitcoin space at our office.
Just call ahead and will get you a private tour.
Just enter our name and the captcha
You can check the Panama Government site for our Operation License at:
https://www.panamaemprende.gob.pa/publico.php?pag=certificAO&anio=2013&ao=42273&Suc=614116&a_buscar=__crypto%20capital______&np=
Also you are welcomed to come and visit our offices at any time. We have personally met with several companies in the Bitcoin space at our office.
Just call ahead and will get you a private tour.
Thank you for entertaining an old grinch, and thank you for your invitation - I will take a visit next time I'm in Panama.
It is reassuring to see your business license and SWIFT registration. However, I have the impression that you either need a trust license or a bank permit, both issued by the "Superintendencia de Bancos de Panama", in order to be able to accept deposits from customers. Am I mistaken, or do you have such a license?
Edit: Sorry if all my nosing around sounds negative, that's not my intention: I'm really a big fan and I think you provide a very important service that will be a kick-ass success, I'm just trying to get a better understanding of the business.
We have already registered with SWIFT http://www.swift.com/bsl/facelets/bicsearch.faces;jsessionid=Ash3ntNdZP2VzC9EY17-NsSBLj_DMY8MVICBmQkT
Just enter our name and the captcha
You can check the Panama Government site for our Operation License at:
https://www.panamaemprende.gob.pa/publico.php?pag=certificAO&anio=2013&ao=42273&Suc=614116&a_buscar=__crypto%20capital______&np=
Also you are welcomed to come and visit our offices at any time. We have personally met with several companies in the Bitcoin space at our office.
Just call ahead and will get you a private tour.
Just enter our name and the captcha
You can check the Panama Government site for our Operation License at:
https://www.panamaemprende.gob.pa/publico.php?pag=certificAO&anio=2013&ao=42273&Suc=614116&a_buscar=__crypto%20capital______&np=
Also you are welcomed to come and visit our offices at any time. We have personally met with several companies in the Bitcoin space at our office.
Just call ahead and will get you a private tour.
Jump to: