Topic: {IPO} Teehe - DAO sports book and casino (Read 3643 times)
Investors have been refunded in full. Thank you all.
The managers of Teehe declare that this IPO is now terminated.
As stated in Prospectus document, IPO will be terminated before April 1st, 24:00 UTC.
IPO has failed as minimum of $90,000 was not pledged by investors.
We will start payback procedures within 12 hours, depending on manpower available and we expect to finish it within next 48 hours.
We have received a decent number of requests today as last minute request to participate, and they have all been declined. We are sorry if we did not answer to everyone with explanation and we consider this post a proper explanation for our declining.
Some statistics:
Total pledged and deposited funds stand at just under $60,000; also $3,000 authorized but not delivered and $4,800 offered but declined by the managers in last 48 hours.
Great majority of funds have been deposited in form of Bitcoin.
Bitcoin also experienced great loss of value during this period, sliding down from $290 to low of $236 endangering value of pledged funds.
Just under 30 persons have participated in this crowd funding.
Total number of inquires was not much larger, at about 45.
About 190 messages was exchanged with investors in private.
This forum has 134 comments and is second most viewed post on this forum of all time.
Even though we promised total anonymity, about 40% of applicants either used standard alias or provided more than enough information to deduct their identity.
Some applicants presented their real name.
It is guaranteed by the managers that no information will be leaked and all evidence will be destroyed after payback is complete.
We thank you all for supporting us and asking right questions. Thanks to those who doubted us for keeping the balance.
As stated in Prospectus document, IPO will be terminated before April 1st, 24:00 UTC.
IPO has failed as minimum of $90,000 was not pledged by investors.
We will start payback procedures within 12 hours, depending on manpower available and we expect to finish it within next 48 hours.
We have received a decent number of requests today as last minute request to participate, and they have all been declined. We are sorry if we did not answer to everyone with explanation and we consider this post a proper explanation for our declining.
Some statistics:
Total pledged and deposited funds stand at just under $60,000; also $3,000 authorized but not delivered and $4,800 offered but declined by the managers in last 48 hours.
Great majority of funds have been deposited in form of Bitcoin.
Bitcoin also experienced great loss of value during this period, sliding down from $290 to low of $236 endangering value of pledged funds.
Just under 30 persons have participated in this crowd funding.
Total number of inquires was not much larger, at about 45.
About 190 messages was exchanged with investors in private.
This forum has 134 comments and is second most viewed post on this forum of all time.
Even though we promised total anonymity, about 40% of applicants either used standard alias or provided more than enough information to deduct their identity.
Some applicants presented their real name.
It is guaranteed by the managers that no information will be leaked and all evidence will be destroyed after payback is complete.
We thank you all for supporting us and asking right questions. Thanks to those who doubted us for keeping the balance.
Quote
We aim to provide a secure, user-friendly platform using a nonvolatile digital currency
Can you explain this a bit more?
As I don't understand the meaning of "nonvolatile digital currency".
Thanks.
I'm guessing all BTC is getting refunded than?
All you need to know about Teehe is in this thread with links to everything of importance
Only 4 days left to invest!
Only 4 days left to invest!
Really good to see constant development of this project, great implementation use of Peershares and yes Peerchemist being behind this project raised my interest as he is trusted community member and producing excellent work on Peerbox.
Congratulation on the funding will aid the development even further, keep up the excellent work
Fuzzybear
Congratulation on the funding will aid the development even further, keep up the excellent work
Fuzzybear
Completion of second week:
We are proud to announce that contributed funds stand at $44,149.
Crypto portfolio: 19,792 PPC 17,501 NBT and 73 BTC
The 10% bonus will only be applied to investors who participate before the $60,000 milestone is reached.
We are glad to see funds doubling every week, Teehe is growing stronger as more people recognize our project.
Regards, Teehe management
We are proud to announce that contributed funds stand at $44,149.
Crypto portfolio: 19,792 PPC 17,501 NBT and 73 BTC
The 10% bonus will only be applied to investors who participate before the $60,000 milestone is reached.
We are glad to see funds doubling every week, Teehe is growing stronger as more people recognize our project.
Regards, Teehe management
Timeline of Seed Funding:
March 11: Teehe launches IPO, most active thread here @ https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734
March 14: FAQ section created http://teehe.net/pdf/teehe-faq.pdf
March 15: Acquired new team member https://bitcointalksearch.org/topic/m.10780059
March 19: Contributed funds stand at over $22,000 with 11,042.30 PPC, 1500 NBT, and 62.99 BTC
March 20: Professional artist joins https://www.peercointalk.org/index.php?topic=3999.msg38484#msg38484
March 22: Prospectus document translated to Mandarin http://teehe.net/pdf/teehe-prospectus-CN.pdf
March 11: Teehe launches IPO, most active thread here @ https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734
March 14: FAQ section created http://teehe.net/pdf/teehe-faq.pdf
March 15: Acquired new team member https://bitcointalksearch.org/topic/m.10780059
March 19: Contributed funds stand at over $22,000 with 11,042.30 PPC, 1500 NBT, and 62.99 BTC
March 20: Professional artist joins https://www.peercointalk.org/index.php?topic=3999.msg38484#msg38484
March 22: Prospectus document translated to Mandarin http://teehe.net/pdf/teehe-prospectus-CN.pdf
Terminology of IPO discussion:
@Teehe is my take on your offering1 (regarding the question of "IPOing" before a product has been released) a fair assessment in your team's opinion?
I see Teehe's fundraising as similar to—but not exactly like[1]—an angel or Series A round, rather than a traditional IPO. The primary difference from a traditional venture in this case would that rather than seek that funding from an isolated set of VCs, they've solicited interest from the larger cryptocurrency community.
An "IPO" usually is offered after a product has been released and a proper evaluation of its fundamentals can be made.
--
[1] That they are using Peershares to generate the DAO's shares mean that they are offering a different type of equity than a "typical" convertable note to exchange preferred to common stock in the future.
Response:
@Ben yes this is a fair assessment.
In this regard, we discussed labeling our venture as an IPO, Series Seed Funding, and Crowdfunding. IPO was chosen as it is more familiar to the laymen rather than the financial lingo of Series Seed Funding. IPO may not be the best description of the venture, but it is more simplistic.
The most accurate description of the Teehe plan is as follows. The first round of funding is not an “IPO” but rather a Series Seed Funding. This will allow the platform to be developed upon which a Series A Funding will occur. Shares are reserved for a Series B Funding to allow for expansion and scalability.
Source: https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734/74?u=teehe
@Teehe is my take on your offering1 (regarding the question of "IPOing" before a product has been released) a fair assessment in your team's opinion?
I see Teehe's fundraising as similar to—but not exactly like[1]—an angel or Series A round, rather than a traditional IPO. The primary difference from a traditional venture in this case would that rather than seek that funding from an isolated set of VCs, they've solicited interest from the larger cryptocurrency community.
An "IPO" usually is offered after a product has been released and a proper evaluation of its fundamentals can be made.
--
[1] That they are using Peershares to generate the DAO's shares mean that they are offering a different type of equity than a "typical" convertable note to exchange preferred to common stock in the future.
Response:
@Ben yes this is a fair assessment.
In this regard, we discussed labeling our venture as an IPO, Series Seed Funding, and Crowdfunding. IPO was chosen as it is more familiar to the laymen rather than the financial lingo of Series Seed Funding. IPO may not be the best description of the venture, but it is more simplistic.
The most accurate description of the Teehe plan is as follows. The first round of funding is not an “IPO” but rather a Series Seed Funding. This will allow the platform to be developed upon which a Series A Funding will occur. Shares are reserved for a Series B Funding to allow for expansion and scalability.
Source: https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734/74?u=teehe
Long way to go to hit the minimum.
Completion of the first week of the IPO:
Contributed funds stand at 11,042.30 PPC, 1500 NBT, and 62.99 BTC
Amount contributed at time of contribution $22,518
At current market prices approximately $22,150
Contributed funds stand at 11,042.30 PPC, 1500 NBT, and 62.99 BTC
Amount contributed at time of contribution $22,518
At current market prices approximately $22,150
FAQ section added at http://teehe.net/
Sooner or later someone has to create a decentralized autonomous (anonymous) organization such as Teehe. It's just a matter of time and here we have a perfect opportunity to be the first ones to enter the competition. I personally advocate gambling that can be cryptographically proven to be fair and Teehe seems like a good platform to represent this ideology.
Announcement:
@Hyena has joined Teehe team.
Hyena is a cryptocurrency enthusiast since 2011. He is the owner and lead developer of cryptograffiti.info. Also, he is working on a Bitcoin based online multiplayer betting game and is interested in hosting it on Teehe.
He has master's degree in software engineering and he is currently working in the area of cyber defence as an expert of secure programming.
We have agreed that many attack vectors can be prevented simply by the architectural choices of the software system.
We are sure this is a great addition to our team and will help us deliver a prestigious platform for our future customers.
@Hyena has joined Teehe team.
Hyena is a cryptocurrency enthusiast since 2011. He is the owner and lead developer of cryptograffiti.info. Also, he is working on a Bitcoin based online multiplayer betting game and is interested in hosting it on Teehe.
He has master's degree in software engineering and he is currently working in the area of cyber defence as an expert of secure programming.
We have agreed that many attack vectors can be prevented simply by the architectural choices of the software system.
We are sure this is a great addition to our team and will help us deliver a prestigious platform for our future customers.
As a gambler I have been waiting for something like this
Looks promising
Looks promising
Just in case people are unaware, this project was created by Peerchemist (the creator of Peerbox) along with help from one other unnamed community member. This is an important fact for potential investors to know because Peerchemist has a solid reputation in the Peercoin community, which lends immediate credibility to this project. Also, judging from his work on Peerbox, you can be sure that security in Teehe will be a high priority.
https://www.peercointalk.org/index.php?topic=3999.msg38285#msg38285
https://www.peercointalk.org/index.php?topic=3999.msg38285#msg38285
very interesting development! will watch this closely
You can follow updates and IPO status on Twitter
https://twitter.com/Teehesports
Most active discussion @ discuss.nubits.com
https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734
https://twitter.com/Teehesports
Most active discussion @ discuss.nubits.com
https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734
Teehe.net
Quote
We aim to provide a secure, user-friendly platform using a nonvolatile digital currency; accommodating anonymous wagers with instantaneous deposits and withdraws fulfilling all gambling desires.
We are entering into a new era of economics; where money knows no borders and does not rely on government promises.
This revolution started with Bitcoin, blockchain and crypto-currency; possibly the greatest inventions of 21th century.
Now it is possible to run a business without relying on banks, pay or be payed in minutes – wherever you are and whoever is your counterparty.
We the people are no longer limited by the laws of nation states and may choose to remain anonymous for all our financial activities.
This is a true free market, spanning the whole planet – wherever people have access to an Internet connection.
Over the last year we have seen other great inventions based on the blockchain, like concept of DAO (distributed autonomous organization).
DAO runs on the blockchain, existing only on the blockchain. One of the bright and successful examples of this is the Nu network, a shareholder owned company based on PeerShares that acts like central bank and provides asset that is pegged to US dollar. This enables businesses and people around the world to trade, work and be financially free without being exposed to the perils of volatility. Just like NuNet, Teehe will be DAO based on PeerShares and will issue its tokens over the blockchain.
Shareholders of Teehe employ managers, who run the business and make decisions based on expected profitability.
To ensure this, managers will have shares in Teehe. Managers aim to please both customers and shareholders.
It is important to set things right in the beginning, to make a secure and future-proof platform. To ensure a long-lived operation, Teehe will avoid interacting with traditional institutions; all business processes needed to establish the platform will be anonymous.
The platform will be designed and coded internally. It will use modern technologies with security and practicality as areas of focus.
Many people have been burned in the crypto-currency space due to bad software design; we want to avoid this worrying trend by making sure our platform is robust and coded with security in mind.
Beside traditional channels out platform is accessible trough Tor and Namecoin's p2p DNS system to avoid possible censorship in the future. Our platform will be exclusively hosted in politically neutral countries with sane and well-implemented privacy laws to ensure safety. With focus on security, anonymity, and stability we envision a long and fruitful organization.
The native currency of choice is NuBits, a p2p digital currency pegged to United States dollar. Customers of Teehe do not have to make constant conversions between currencies.
They have a stable monetary instrument. No longer does the customer have to bet 0.3834 to win 0.34774 Bitcoin they can simply bet $110 to win $100.
The ease of use and familiarity of USD will provide a far better experience for customers than existing betting platforms.
Deposits are accepted in any crypto-currency that is liquid with NuBits, at the moment of writing that is exclusively Bitcoin. Customers can use well-established Bitcoin infrastructure to reach Teehe. Customer funds will be denominated in their currency of choice with USD set as default.
Teehe managers have secured the necessary developers to create the platform from start to finish. What is needed is a distributed group of active investors to supply capital for a stake in Teehe as shareholders.
Managers can be contacted through the following mediums.
Code:
Bitmessage addresses: BM-NBBZngFv6Kc3Y8Qmg34eM7s5AtDGQbzD
Email address: [email protected]
Email address: [email protected]
For more information about the IPO including the prospectus and business plan visit Teehe.net
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