Topic: [HAVELOCK](SFI) Seedcoin Fund I - page 9. (Read 27330 times)

You mention in your prospectus in Havelock that all future IPO batches will also be sold for the same price of BTC0.001.

So what is the incentive for investing at this stage then? We pay the same price now as we would pay in the future, but we have more risk. And there's no dividend being paid anyway, so it really doesn't make sense to invest now, much better to wait and invest later.

Can you comment please?

This was my reply to your message on Dec. 12 (your message was dated Dec. 10 evening time) :

"I am at the Inside Bitcoin conference in Las Vegas so not easy to reply earlier.

If you want to talk I am available at 415-509-9028 and will fly back to Hong Kong on Friday morning."

from my email to which you did not answer since the 36 hours delay in my answer had discouraged you from participating to the IPO. Once again I am sorry I did not reply in the 24 hours of your message.

The 'random people' as you define the entrepreneurs who will receive the bitcoin from this raise are hard working entrepreneurs who are providing helpful and relevant services to the bitcoin community, bitcoin exchanges, payment processors, wallets, etc. Their business plans are available on http://www.seedco.in/home/havelock

None of these entrepreneurs have made public any dividend distribution plans as of today, contrary to mining operations where bitcoin may become available soon after initial hardware investment has been made, non-mining Bitcoin-centric companies live by the same rules as any other startups meaning they need to build something, original products and/or services, acquire clients and manpower to service these clients before paying out dividends. If you are looking for a short term, dividend paying investment this fund may not be the best option, although focused on seed-stage startups Seedcoin is looking for companies with promising prospects on the medium to long term and dividend distribution is not our main criterion of investment when selecting startups for the fund.

To be honest, it pissed me off. I read all their literature (2 hrs), and prepared just a simple couple of questions because their was several obvious things missing from their prospectus e.g. what % of the companies they were investing in they would actually own, which of the companies they were investing in actually paid dividends, and they couldn't be bothered to answer.

Companies that expect investment are going to have to do some basic legwork to get people onside. Some people at least attempt due diligence before giving their bitcoins to random people 

LMAO, thanks for sharing.
I think it is quite important to share this kind of (missing) feedback with other users.

I wrote you an email with a couple of questions, and asked if there was a thread at bitcointalk.org you could refer me to.

You did neither, just said you were busy.

So sorry, I'm too busy to invest in your half-arsed idea of an IPO

Press clips about Seedcoin Fund startups and Seedcoin :

BTC.sx : http://bitcoinexaminer.org/australian-startup-launches-bitcoin-only-margin-trading-platform/

Hive : http://www.coindesk.com/hive-osx-wallet-promises-app-integration/

GoCoin : http://www.coindesk.com/gocoin-raises-500k-bitcoin-payments-asia-south-america/

Seedcoin : http://www.scmp.com/news/hong-kong/article/1351315/hong-kong-based-entrepreneur-planning-asias-first-bitcoin-conference

Seedcoin : http://www.scmp.com/business/banking-finance/article/1358150/hong-kong-entrepreneurs-could-win-slice-bitcoin-pie

Seedcoin : http://www.techinasia.com/bitcoin-change-world/

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Interviews with Seedcoin Fund startup founders :

MEXBT : http://www.youtube.com/watch?v=oLs0WCqUemw

Hive : http://www.youtube.com/watch?v=FUpn0UvmAok

GoCoin : http://www.youtube.com/watch?v=ElKEGGOcFbU

Seedcoin : http://www.youtube.com/watch?v=qpy9gt5Js_k

yes the next 2m shares will be for future companies, each Seedcoin Fund tranche offering will introduce new seed-stage startups.

Each company will have its own dividend policy we cannot impose a uniform dividend policy to seven companies in different markets and at difference stages of development or profitability. 100% of the company shares allocated to Seedcoin Fund will belong to the subscribers of the offering taking place on Havelock and all shares held by the fund will be entitled to the same dividends as any other shareholder of the company. I think investors should take into consideration that it is reasonable to expect that these startups, vetted by Seedcoin and guided by its managers and mentors, and funded, in part, by the Havelock members buying units of this fund, are increasing their chances to succeed among Bitcoin startups. In the event of a buy out or a major investment into these companies the Seedcoin Fund unit holders will get special dividends as compensation for their contribution to the success of these early-stage Bitcoin startups.

So this 2m shares is just for the listed companies. The next 2m shares will be for future companies?

Any idea how much of these companies profits go into the dividends?

answer from Gabriel Miron, founder of MEXBT.com

MEXBT is the first Profesional Bitcoin exchange for Mexico, and part of Latin America.  We are aiming for an average growth of 50% each month in the first few months of operations.  Our main focus is to target the remittance corridor from the United States to Mexico, but this will be tackled after we have established MEXBT as the most reliable Bitcoin exchange in the country.  

This will be a case by case decision and in conformity with Havelock's policies and approval of transfer of coins.

How can you be so sure of this? It would actually be against Havelock's new policy to do that. Certainly these incubated businesses don't need all the money at once, do they? Havelock can gradually dispense money based on invoices and such or some other proof showing how they're going to be spent. It's either this or Havelock doesn't stick to their own terms.

Claiming to have "been involved" with nary an iota of substantiation does not constitute establishing your competence or expertise. It constitutes further proof that you're able and willing to say anything, and that you're either unaware of how to present yourself or else too lazy to actually do it correctly. Same goes for passing off conference organization as some kind of artifact of financial expertise.

Yes, various idiots have been murkying the waters of this forum with similar contentless assuring for years; this doesn't mean it's in any way acceptable. You can either demonstrate that you're capable and serious, which means following the actual protocols of the field, or else you can appeal to the groups here that have no business investing and who will cheer on your good intentions 'til their last satoshi is gone. Don't mistake that second option as anything other than blowing it.

Answer from Nikos, Monero's founder:

Monero is creating a collection of plugins for various platforms that will allow merchants to easily integrate existing payment processors (Bitpay, Coinbase, BIPS, GoCoin, BitPagos) into their e-commerce stores. Merchants will not have to integrate each processor separately and the plugins will allow easy switching between them. Although the plugins will be free and open-source, Monero will generate recurring revenue through a Software-As-A-Service (SaaS) model by providing additional capabilities to merchants. At this moment, Monero does not publicize the list of features that the SaaS will provide, since they are under development. You can sign up for the Monero mailing list at monero.co in order to receive up-to-date information about those SaaS features. 

One clarification: In your question, you mentioned integration of existing exchanges, like Mt Gox. Monero will not integrate those. Instead, as mentioned above, it will integrate payment processors like Bitpay, Coinbase, BIPS, GoCoin, and BitPagos.

Hive has been on my observe list for a while so I do recognize this as an interesting group
They have a thread here for anyone who wants to check them out
For the other assets not familiar with at this point in time
https://bitcointalksearch.org/topic/introducing-hive-a-beautiful-new-wallet-for-mac-os-x-304060

Its D@T so no off topics

There is no maintenance fee, 11% is a one time fee.

@Seedcoin

Does this fund also have a maintenance fee or is that 11% off a one time fee that covers all future expenses?

Sure your are right managing other people's funds requires expertise. I have been involved with private equity and venture capital for the last nine years mainly in China and South East Asia. I also would like to point out - specially for the "find" part - that I have personally met most of the entrepreneurs including the founders of MEXBT.com, GoCoin, Hive, BTC.sx; my partner has met the Cryptopay co-founders in the UK; I will meet Monero's founder next week and our Austin-based mentor has met the founder of zSIM. We have organized a conference in Singapore, the first bitcoin conference in Asia, on November 15 where many of these entrepreneurs were present and we had 200 attendees from all over the world. So in the "find" area I can say we have been quite active, in addition to the tens of entrepreneurs my two partners and I have talked to in meetups, over skype, and via email. For the "help" part we have already been providing services in finding partners, registering companies, assessing risks and the regulatory environment, defining the business model, defining the business strategy and targeting certain markets. Of course much more work still needs to be done but this is what we do daily. I think the result of this work will very soon demonstrate our focus and dedication to our main task: helping entrepreneurs around the world to build successful bitcoin-centric startups.

as a reply to Korbman and your question I have started contacting the founders so that they can reply to the comments made by Korbman earlier

from Korbman re. Cryptopay

response from Cryptopay
We are located in Europe and one of our key feature is that we know how to become fully compliant with the current local legal framework. Our payouts to Europe don’t impose any limits on the amount and are credited to merchant’s bank account the next working day.

As our company is still early stage — we can be flexible on our business model and we are happy to provide the solutions for merchant’s with specific needs.
Cryptopay is going to roll out our POS solution within the next month and that might be something that could increase the adoption of Bitcoin payments to brick&mortar stores.
At the moment, as we don’t serve US customers, we are working outside the scope of American regulations, so our legal costs are significantly lower than in the US.

PS: We believe, that you can’t rely on just one company, even if it is “very” well known.

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I will post startup business plans / pitchdecks asap on:
http://www.seedco.in/home/havelock

BTC.sx pitchdeck is there now, more coming.

http://www.mexbt.com/

Found this website.