I dont give a hoot who you call but for cryptx sake, I hope he calls a competent lawyer. You might get away with this if you live in banana republic, but you're not gonna get away with it in the EU or US. BTW, Ive been around the block. Ive been stating this ever since the first major bitcoin IPO happened (gigamining on glbse), and ive been ridiculed by people like you every step of the way. "bitcoin isnt money", "bitcoin isnt regulated", "bitcoin is anonymous", 'its all just virtual", blah blah. Of course I also turned out to be correct, and people who thought they could anonymously invest/gamble in unregistered securities because "bitcoin", they lost fortunes, their anonymity and more often than not, both.
GigaVPS turned it around after consulting with lawyers, but before catching regulatory heat. Cryptx may be able to do the same, just be aware of what the consequences of that will be to you.
Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 100. (Read 565833 times)
its people's choice to take risk
Its not against any law to buy these things. It is however, illegal to sell them in this way. I dont care if you think running ponzi's and all kinds of financial scams should not be prohibited, the reality is that it is prohibited.
Should we call internet police?
its people's choice to take risk
Its not against any law to buy these things. It is however, illegal to sell them in this way. I dont care if you think running ponzi's and all kinds of financial scams should not be prohibited, the reality is that it is prohibited.
...
its people's choice to take risk
its people's choice to take risk
Sure, til your investings [predictably] turn to shit, broke you gets on the dole, and who foots the bill for those government subsidies to the needy and unfortunate?
Thaaat's right, NotLambchop, that's who.
Muh taxes pay for your intrepid investingz
IM not interested in posting in all the scam threads. Lets be clear, the one running the legal risk in this case is the issuer. Investors are pretty well protected, even if they buy illegal securities. Im going by the assumption cryptx is sincere, but making a big mistake that could cost him dearly.
hey, stop trying to take PETA or havelock down
im pretty content with having the ability to invest without needing to be accredited or having a minimum yearly income
its people's choice to take risk
IM not interested in posting in all the scam threads. Lets be clear, the one running the legal risk in this case is the issuer. Investors are pretty well protected, even if they buy illegal securities. Im going by the assumption cryptx is sincere, but making a big mistake that could cost him dearly.
Heya pedro! How are your labcoin shares doing?
There's an entire section for securities in this forum, you better start your own thread or you'll have to post in a lot, a lot of topics...
Heya pedro! How are your labcoin shares doing?
[
G. PROHIBITED ACTIVITIES, CIVIL LIABILITY AND ENFORCEMENT
Civil liability for any person found responsible for the loss or damage caused by the use of fraudulent or deceitful devices....
G. PROHIBITED ACTIVITIES, CIVIL LIABILITY AND ENFORCEMENT
Civil liability for any person found responsible for the loss or damage caused by the use of fraudulent or deceitful devices....
I have no opinion on the above, since I didnt follow it closely, and Im not sure what happened regarding the insider trading allegation (not that it would surprise me one bit),
But.. nice job spotting the mouse while missing the elephant in the room.
To the best of my knowledge, this entire IPO of an unregistered security by a company that is not an authorized investment firm in Belgium or anywhere else, is completely illegal in Belgium, the EU and the US (and probably just about anywhere else). There is a reason all the other exchanges were closed, there is reason gigavps and many others had to remove their public offerings. Moving to another exchange in some fiscal paradise changes nothing about the core of the problem: these unregistered securities are being offered publicly (very publicly, press release and all) to unsophisticated investors in whatever country cryptx shareholders live in, which is everywhere. The location of the exchange doesnt matter at all. Cryptx is simply not allowed to raise capital this way in these markets.
Now I should also add I am convinced (perhaps naively) that Bert has honorable intentions, I dont believe he intends to scam and run off with the bitcoins. His approach seems fairly professional, so Im left wondering, Bert, WTH are you doing? . If you are somehow convinced what you are doing is legal, contact the fsma asap and get their approval. Not that it will do you any good with the US SEC or in any other country, but since you are located in Belgium, at least it would be a start. Im willing to bet however, you will be closed down the moment the FSMA finds out what you are doing, so instead of committing hara kiri, talk to some expert lawyers to help you dig a legal way out of this mess.
LOL
Just wondering how Bitcoin is being treated in the US. Is Bitcoin considered to be currency or legal tender in the US now?
No. But fun fact: in the context of my post, that doesnt matter at all. You cant sell unregistered securities for crates of banana's either, even though thats not considered currency. The key wording in the definition of a security, is that it can be traded for anything of value. Crates of banana's have value, and so do bitcoins.
The term ‘‘sale’’ or ‘‘sell’’ shall include every contract of
sale or disposition of a security or interest in a security, for
value.
https://www.sec.gov/about/laws/sa33.pdf
Just wondering how Bitcoin is being treated in the US. Is Bitcoin considered to be currency or legal tender in the US now?
Cryptx is simply not allowed to raise capital this way in these markets.
[
G. PROHIBITED ACTIVITIES, CIVIL LIABILITY AND ENFORCEMENT
Civil liability for any person found responsible for the loss or damage caused by the use of fraudulent or deceitful devices....
G. PROHIBITED ACTIVITIES, CIVIL LIABILITY AND ENFORCEMENT
Civil liability for any person found responsible for the loss or damage caused by the use of fraudulent or deceitful devices....
I have no opinion on the above, since I didnt follow it closely, and Im not sure what happened regarding the insider trading allegation (not that it would surprise me one bit),
But.. nice job spotting the mouse while missing the elephant in the room.
To the best of my knowledge, this entire IPO of an unregistered security by a company that is not an authorized investment firm in Belgium or anywhere else, is completely illegal in Belgium, the EU and the US (and probably just about anywhere else). There is a reason all the other exchanges were closed, there is reason gigavps and many others had to remove their public offerings. Moving to another exchange in some fiscal paradise changes nothing about the core of the problem: these unregistered securities are being offered publicly (very publicly, press release and all) to unsophisticated investors in whatever country cryptx shareholders live in, which is everywhere. The location of the exchange doesnt matter at all. Cryptx is simply not allowed to raise capital this way in these markets.
Now I should also add I am convinced (perhaps naively) that Bert has honorable intentions, I dont believe he intends to scam and run off with the bitcoins. His approach seems fairly professional, so Im left wondering, Bert, WTH are you doing? . If you are somehow convinced what you are doing is legal, contact the fsma asap and get their approval. Not that it will do you any good with the US SEC or in any other country, but since you are located in Belgium, at least it would be a start. Im willing to bet however, you will be closed down the moment the FSMA finds out what you are doing, so instead of committing hara kiri, talk to some expert lawyers to help you dig a legal way out of this mess.
If i could vote, i wold give big resounding NO to 50/50, we should have that loan paid back as quickly as possible by putting 100% towards it so that reinvestment's can start sooner
If i could vote, i wold give big resounding NO to 50/50, we should have that loan paid back as quickly as possible by putting 100% towards it so that reinvestment's can start sooner
I'm just guessing here, but I'm thinking my votes would counter yours.
Here's an idea for accounting
http://piratepad.net/4IuFS2gHeU
Since there is no public source for share-ownership. fill in the shares you own, you can do so anonymously. Let's see whether it adds to 30% of total shares or more.
I'm down. Revised:
http://piratepad.net/4IuFS2gHeU
If i could vote, i wold give big resounding NO to 50/50, we should have that loan paid back as quickly as possible by putting 100% towards it so that reinvestment's can start sooner
If i could vote, i wold give big resounding NO to 50/50, we should have that loan paid back as quickly as possible by putting 100% towards it so that reinvestment's can start sooner
I'm just guessing here, but I'm thinking my votes would counter yours.
Here's an idea for accounting
http://piratepad.net/4IuFS2gHeU
Since there is no public source for share-ownership. fill in the shares you own, you can do so anonymously. Let's see whether it adds to 30% of total shares or more.
If i could vote, i wold give big resounding NO to 50/50, we should have that loan paid back as quickly as possible by putting 100% towards it so that reinvestment's can start sooner
I'm just guessing here, but I'm thinking my votes would counter yours.
If i could vote, i would give a big resounding NO to 50/50, we should have that loan paid back as quickly as possible by putting 100% towards it so that reinvestment's can start sooner
CryptX, will dividends from the last two missing payouts be included in next week's dividends?
I think not. All income from last and this week goes to pay off the pre-finance. From email
Dear unit holders,
As the IPO is running towards an end, we would like to inform you about where we are and what is going to happen.
Current Status:
Currently, about 11,085 units are sold during IPO, which brings the total of outstanding units to 77,291. We increased hashrate from 7.55 GH to 15 GH/share on Monday, which brings the total hashrate of PetaMine to 1159 TH/s.
Why does it matter how many shares are sold in IPO? We now have 15GH/share, so what would be the benefit?
The more shares sold in IPO, the less CryptX has to pre-finance, we currently pre-financed 964 BTC. If and additional 10,000 shares are sold in IPO, the loan would be reduced to 530 BTC, with complete IPO sold out, this would mean, no loan has to be paid back.
What will happen after IPO?
Dividend payout will resume next Friday (June 6th), we propose to alter the dividend / reinvestment ratio to 50/50. So 50% of net mining revenue will be paid out as dividend. The remaining 50% will be used to repay the loan of 964 BTC CryptX has pre-financed to pay for new hardware, after that funds will be used to further expand PetaMine.
Team CryptX
CryptX, will dividends from the last two missing payouts be included in next week's dividends? Dear unit holders,
As the IPO is running towards an end, we would like to inform you about where we are and what is going to happen.
Current Status:
Currently, about 11,085 units are sold during IPO, which brings the total of outstanding units to 77,291. We increased hashrate from 7.55 GH to 15 GH/share on Monday, which brings the total hashrate of PetaMine to 1159 TH/s.
Why does it matter how many shares are sold in IPO? We now have 15GH/share, so what would be the benefit?
The more shares sold in IPO, the less CryptX has to pre-finance, we currently pre-financed 964 BTC. If and additional 10,000 shares are sold in IPO, the loan would be reduced to 530 BTC, with complete IPO sold out, this would mean, no loan has to be paid back.
What will happen after IPO?
Dividend payout will resume next Friday (June 6th), we propose to alter the dividend / reinvestment ratio to 50/50. So 50% of net mining revenue will be paid out as dividend. The remaining 50% will be used to repay the loan of 964 BTC CryptX has pre-financed to pay for new hardware, after that funds will be used to further expand PetaMine.
Team CryptX
Why does it matter how many shares are sold in IPO? We now have 15GH/share, so what would be the benefit?
The more shares sold in IPO, the less CryptX has to pre-finance, we currently pre-financed 964 BTC. If and additional 10,000 shares are sold in IPO, the loan would be reduced to 530 BTC, with complete IPO sold out, this would mean, no loan has to be paid back.
The more shares sold in IPO, the less CryptX has to pre-finance, we currently pre-financed 964 BTC. If and additional 10,000 shares are sold in IPO, the loan would be reduced to 530 BTC, with complete IPO sold out, this would mean, no loan has to be paid back.
Ah ok that makes sense. It would have been more motivating for investors if we were clearer about this early on imho.
It was mentioned, in Prospecuts, and this post of CryptX:
We suggest to read the Prospectus in detail, depending on how many shares are sold in IPO, we can deploy a certain amount of hardware.
Quote
Depending on the quantity of units sold, one of the following scenarios will unfold:
Call me dumb, but I really don't see anything about pre-financing in there.
In any case, just because it appears in the prospectus doesn't mean that potential investors "get it." Whatever happened to our marketing effort?
Why does it matter how many shares are sold in IPO? We now have 15GH/share, so what would be the benefit?
The more shares sold in IPO, the less CryptX has to pre-finance, we currently pre-financed 964 BTC. If and additional 10,000 shares are sold in IPO, the loan would be reduced to 530 BTC, with complete IPO sold out, this would mean, no loan has to be paid back.
The more shares sold in IPO, the less CryptX has to pre-finance, we currently pre-financed 964 BTC. If and additional 10,000 shares are sold in IPO, the loan would be reduced to 530 BTC, with complete IPO sold out, this would mean, no loan has to be paid back.
Ah ok that makes sense. It would have been more motivating for investors if we were clearer about this early on imho.
It was mentioned, in Prospecuts, and this post of CryptX:
We suggest to read the Prospectus in detail, depending on how many shares are sold in IPO, we can deploy a certain amount of hardware.
Quote
Depending on the quantity of units sold, one of the following scenarios will unfold:
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