Topic: [HAVELOCK] Mintspare (MS) Bitcoin Electronic Trade-in Service - Official Thread - page 10. (Read 35877 times)

You've been able to scam 127BTC by not talking about your valuation so why start now..


I suspect that you bloody well know repayment, let alone profit, can't happen (at least not for "investors").  Or if you have projected it to happen your ROI for investors timeframe extends beyond the projected lifetime of this "business."





I have but one keyboard, I must lawl.

Mintspare are you taking a salary?  Are you paying yourself, or anyone (partners, silent partners, pre-ipo investors, employees etc..) in Bitcoin?

This is just getting humorous now.

Never mind it was a joke from the beginning.

Is this guy looking for a job in politics because this "business" "plan" and resulting actions get more absurd by the post.

You are a RIPOFF

Stop trying to take money out of this community's pockets.

Zevtiefenbach,

Thank you for voicing your opinion, I sincerely appreciate that.

Your concern in regards to our valuation is your rightful opinion, and I will not touch base on that. However I will note that 40% of Mintspare's profits will be directed to 20% of public shares until all shares have been paid out 0.005 BTC each.

Our prospectus was created over a long drawn out process that took many months of thoughtful consideration. We've made a best effort to provide as accurate information as possible. We ultimately made a mistake that reduced our expenses in the first month of our IPO. Taking into account the scope of our operation, and the length of our IPO prospectus, we hope that the community can understand us making a single mistake that ultimately is used to take better care of investors' funds (there is no need to spend the amount stated in our first month when we haven't yet launched). We've previously stated that the expected launch date of our beta was in February.

They do not care to make it clear that the business proposal changed, they think because they spent less (due to the incompetence to follow through with prior statements) that they have no need to keep their investors abreast on the change of situation.

It because of losers like this that we need regulation in the crypto coin market.

the IPO prospectus is in theory your contract with potential investors. not being able to deliver on this contract is a problem.

it's a problem that indicates a lack of clarity and attention to detail on your proposed business plan. as an outsider, it was clear that you weren't going to follow your business plan because the majority of your expenses were projected to be expensed before you received your IPO funds. since you aren't (according to the prospectus) putting your own funds forward as part of the business plan, it was clear that your prospectus and proposed business plan were not going to go ahead as stated.

indeed, it was, at least to some extent, a fiction. the extent of it being a fiction is unclear. however, not following through on your stated business plan (in the first month) really undermines your credibility (which is something earlier in the thread you wanted to build. . . )

my concern on this from the start has been twofold:

1) the investing conditions are extremely unfavourable to any potential investor. (granting 20% equity to 100 % of capital)
2) the prospectus that you are asking people to invest in is entirely speculative and being proposed by people who clearly have no ability to form a coherent and realistic business plan and then successfully follow it.

if your business proposal has changed, you have an obligation to the investment community to make that clear. you shouldn't come to market asking people for money with a proposal that changes a few weeks later.

you need to sit down and figure out a practical (and fair!) plan that you can follow before you ask people to fund it.

changing things on the fly is okay (i guess) when you're playing with your mommy or daddy's money but when you want to be part of an investment community and you're playing with stranger's money, you really should uphold a much higher standard of transparency and integrity.

You're correct, our projected expenses for the month of January are incorrect. They're actually much less than what is stated on our IPO paper.

Hope this helped clear up any misunderstandings.

so not only is the IPO a lousy deal for investors it's also incorrect . . . . but you're still collecting IPO funds?

really, this is just another indication of how ridiculous it is to come to market for funds for a project that you don't have up and running yet.

There was an error in our projections as they assumed we would launch our beta at the beginning of January, whereas it was supposed to be at the beginning of February.

Our expenses are expected to be less than 40 BTC for January, the majority of this being filled by the creation of the website. We'll provide a revised revenue/expense projection plan once we launch the website. This is because we want to provide accurate revised projections, on top of not steering away from our current focus: launching.

since you're on-line now maybe you'll answer these questions?

in your IPO you projected to spend 102.14 BTC in January. Has this happened? If not, could you provide a revised revenue/expense projection?

Shut up with all your nonsense. This is just a scam to take peoples money and turn it in to nothing.


[size=100pt]SCAM[/size]

A small amount of funds are being used to promote Mintspare at its launch. In bitcoindifficulty.com's case, we had to close a deal a few days in advance in order to lock a contract in during our launch. In order to not waste advertising space during the time we would rent the advertising spot without Mintspare being launched, we've decided to link it to our IPO. Our intentions are not to use funds to promote the IPO.

We're planning on launching by February 3rd at the latest. All functionalities are in place. The security audit is fully complete. At this point we're just ironing out bugs. Creating a website from the ground up does allow for greater flexibility on one hand, but is prone to more bugs on the other. We're hard at work fixing them.

We will make a launch announcement both on here and as an update via our asset page on Havelock Investments.

interesting that they are spending their money promoting the IPO and not on the launch of their service (which was supposed to start yesterday?).

it seems that the priority here is to fleece as many people into buying into the IPO as possible and not to operate an effective business. there is still no functional website and none of the meaningful financial questions from this thread have been answered.

LOLOLOL, I cant believe this is still going to happen.. Cant wait till you waste all the btc on electronics and are sitting with goods you wont be able to flip quick enough to cover the next big swing upwards in price.

Godspeed!

I saw their ad banner at the bottom of bitcoindifficulty.com

And, actually, from the first sight i wanted to spend some 1 BTC and get 200 shares to invest for future... until I opened this thread...

My conclusion: better to refrain from such "investments".

Why not put in some of your personal funds now, rather than relying entirely on individual investors (who you're screwing with a tiny % ownership/share).

You don't even have money for a haircut.. (see pic earlier) what do you mean "some of my personal funds"

Hello twentyseventy,

It would come down to a combination of the following: private investors, scaled down operation, and some of my personal funds.

What is your contingency plan if you do not sell the 50,000 shares required to make the IPO successful?