As far as dividends are concerned I would not expect much for this year at least. We will not have a positive net income for the current financial year. Our strategy as a startup is more long term, we need to spend money to improve our team by raising more team members to full time positions and making new strategic recruitments. There are also other investments that may be necessary such as getting more 2-way ATM's.
This basically means that in the early years we're not even looking to make a profit. It's more about making the right investments that allow us to make a huge profit in the future. So if one is to invest in our company, it is most definitely an investment best thought of as a project that takes many years.
We do plan to make a profit on the next financial year though which starts the 1st of April. And we're looking at paying quarterly dividends as soon as possible. Also our dividends are already payed 100% in bitcoin. We payed small dividends in the first 2 financial years but for this year it's likely there will be no dividends since we made lots of investments in 2014 which result in a negative net income for this financial year. Building the largest ATM network in the Nordics and building a 10-person team did not come without cost.
Topic: [INVESDOR] Bittiraha.fi - Bitcoin services since 2012 - page 3. (Read 5621 times)
This is an interesting security w/ a seemingly solid team and foundation behind it but I was wondering what the expected quarterly dividends will look like. The market sounds fresh and growing but I know pretty much nothing about Scandinavia and the lives that are lead up over there.
Id love to provide some context on Scandinavia:
Countries include Finland, Sweden, Norway, Denmark, and often Iceland and Estonia are considered part of the 'group'.
These countries have an extremely high quality of life with excellent education. Economically citizens are generally well off and especially Norway has a huge amount of wealth and a very high GDP. There is virtually no poverty and healthcare & higher education is free.
The area is highly advanced technologically, with Nokia, Linux, and Angry-birds all originating from Finland. I expect that Scandinavians will embrace digital currency much faster then almost any other area in the world. Finland is an excellent base of operation for Bittiraha.
As for Bittiraha, I can vouch for them. I bought my first Casascius coins from them long ago, and they were very helpful (plug: check out my Casascius eBook linked in my sig!)
This is an interesting security w/ a seemingly solid team and foundation behind it but I was wondering what the expected quarterly dividends will look like. The market sounds fresh and growing but I know pretty much nothing about Scandinavia and the lives that are lead up over there.
What do you consider as major threats to your business? How sustainable it is?
There are threats on multiple levels. The largest ones that stand out are regulation and competition. The regulatory environment in Finland is especially good for Bitcoin companies which means that I'm not too worried about this threat at the moment. In fact it's something we have an advantage in. Things may change of course, but at the moment it is looking good.
Clearly the number #1 threat is competition. Major international Bitcoin companies are the biggest threat and there is local competition as well.
The most important thing to understand is that we are not a 1 trick pony. We are constantly coming up with new business lines and we try to stay one step ahead of the situation in regards to competition.
We also believe in the power of co-operation. We've worked together closely with companies such as BitPay, Bitstamp and Lamassu. We want to make strategic partnerships with Bitcoin companies when we feel it's beneficial.
This sounds honest and realistic. I ll see if I can get in, at least a bit.
Funding round week update #1. Our offer has been public for 1 week. We've had a strong start, here are the numbers:
- We have raised over 35 000 €
- We have reached 23% of our minimum target
- Over 30 new investors are part of the round
- Our presentation video has over 2 000 views
The funding round is still on for the next 55 days. We still have ways to go before we reach our target but with your help we can do it. Every small investment helps us reach our goal.
- We have raised over 35 000 €
- We have reached 23% of our minimum target
- Over 30 new investors are part of the round
- Our presentation video has over 2 000 views
The funding round is still on for the next 55 days. We still have ways to go before we reach our target but with your help we can do it. Every small investment helps us reach our goal.
What do you consider as major threats to your business? How sustainable it is?
There are threats on multiple levels. The largest ones that stand out are regulation and competition. The regulatory environment in Finland is especially good for Bitcoin companies which means that I'm not too worried about this threat at the moment. In fact it's something we have an advantage in. Things may change of course, but at the moment it is looking good.
Clearly the number #1 threat is competition. Major international Bitcoin companies are the biggest threat and there is local competition as well.
The most important thing to understand is that we are not a 1 trick pony. We are constantly coming up with new business lines and we try to stay one step ahead of the situation in regards to competition.
We also believe in the power of co-operation. We've worked together closely with companies such as BitPay, Bitstamp and Lamassu. We want to make strategic partnerships with Bitcoin companies when we feel it's beneficial.
Funding round day #6. We have raised over 30 000 € which means we have over 20% of our minimum target!
What do you consider as major threats to your business? How sustainable it is?
Funding round day #6. We have raised over 30 000 € which means we have over 20% of our minimum target!
Update.
Today Invesdor made our offering public on their website: https://www.invesdor.com/finland/en
Also we have now raised over 20 000 €.
Today Invesdor made our offering public on their website: https://www.invesdor.com/finland/en
Also we have now raised over 20 000 €.
Bump for this great website. The Finnish market isn't small, and I'm sure this could do well.
Good luck!
Good luck!
this is a bit of a basic question, but if shares are bought and you are successful, how and where can we cash out the shares (is there a market to trade them)? Or, is the idea that dividends will be given out according to profits?
Currently we give out yearly dividends payed out in bitcoin. We're looking at giving out quarterly dividends. As far as trading the shares, I have good news regarding that as well. We are going to list our company on Privanet (http://www.privanet.fi/en/quotations) which is a place where shares of companies like ours can be easily traded.
this is a bit of a basic question, but if shares are bought and you are successful, how and where can we cash out the shares (is there a market to trade them)? Or, is the idea that dividends will be given out according to profits?
Status: 18 500 € raised during the first 4 days. Tomorrow the offering will go public on Invesdor website. It has been in "hidden mode" so far.
If you are trying to raise capital here it means you are no better than every other offering that has ever gone before in bitcointalk/securities, i.e. Doomed.
I can assure you that Bitcointalk is not our number #1 channel for raising capital. However I don't see why I shouldn't. Any channel is a plus.
How many bitcoin ATM's do you have in Finland? Can you tell more about their statistics and what your plans are for the next 6 months, 1 year, and 2 years?
We have 8 active locations in Finland. The volume has been growing surprisingly well recently. We believe one reason is that there has been a lot of talk locally about how local Bitcoin companies have to give information to authorities. Tax people, customs, other authorities. However our ATM's run with pretty much no verifications or checks (unless the amounts are really high, over 15k€). It's more anonymous than doing bank transfer based trading. This could be why especially recently we've seen an ATM trading volume increase.
Our most recent and best location is our first 2-way ATM and we have been positively surprised by the selling volume. Lots of people want to sell their bitcoins and get cash. Cash is, once again, more anonymous.
Our strategy is to first of all make sure all of our ATM's are in excellent locations. Malls, seaports, airports. And we want to upgrade all of the good locations to 2-way. Then we will expand based on the demand. If there is demand, we invest more in the ATM's. This is a gradual process.
In terms of our ATM business we are not currently thinking about international markets. We still have work to do in this area in Finland alone. We have other services that we are planning to push internationally. The ATM network is relatively light on our resources to operate over here but doing this kind of business abroad would require a lot of resources.
If you are trying to raise capital here it means you are no better than every other offering that has ever gone before in bitcointalk/securities, i.e. Doomed.
How many bitcoin ATM's do you have in Finland? Can you tell more about their statistics and what your plans are for the next 6 months, 1 year, and 2 years?
It's kind of weird how the info is not visible at first sight. Thanks for the update though, seems clearer now. It's not that onbvious that all this information would be available upon registering.
You're right. It may be that the way Invesdor has chosen to do this is not optimal. We will try to be clear about this in our marketing so that everyone knows there is much more to be seen inside.
The detailed pitch can be seen by registering to Invesdor website: https://www.invesdor.com/finland/en/pitches/427?token=f30988c60e9a202e6398a5e9f14c6d76. Registration does not cost anything nor does it have any obligations.
It's kind of weird how the info is not visible at first sight. Thanks for the update though, seems clearer now. It's not that onbvious that all this information would be available upon registering.
The detailed pitch can be seen by registering to Invesdor website: https://www.invesdor.com/finland/en/pitches/427?token=f30988c60e9a202e6398a5e9f14c6d76. Registration does not cost anything nor does it have any obligations.
Jump to: