Topic: [IPVO] [Multiple Exchanges] Neo & Bee - LMB Holdings - page 143. (Read 658701 times)

On to the next question, why even use an RDBMS?
MongoDB Anyone?

Are they also going to be writing the exchange in COBOL?  And will they be running all this on IBM mainframes?

Is NEOBEE a billion dollar company that can afford to waste millions of dollars on overpriced software? Those companies likely have tons of legacy software for Oracle that would cost a fortune to translate to new systems, so they need to keep using it. I'm certainly not saying it never makes sense to use Oracle, but it doesn't make much sense to use it if you're starting a new company with all new code.

MySQL is actually an Oracle product - they acquired it when they bought Sun Microsystems. Tons of large companies use MySQL internally, including Google.

By the way, The enterprise version of Oracle costs $45,000 per processor  That means if they want to scale up they have to pay the license fee over and over again, which means they'll actually be far more limited then if they'd gone with a proven, well used open source solution.  (Unless they're getting some kind of discount)



I laughed.

As far as support goes, support for what?  Are you saying you think the NEOBEE Sysadmins are too stupid to run a database without someone there to hold their hands?

I suppose it makes sense as a sort of "insurance policy" if the developers and sysadmins do screw up something really badly with people's money on the line an Oracle support person might be able to figure out the problem. But it won't be necessary with reasonable coding standards and backup policies.

Anyway, it's not the end of the world if they use Oracle, just a waste of money.  If they did get a "deal" on it then it might not be so bad.  The main thing I was responding too was the idea that somehow they couldn't use open source software.

That does make a lot of sense can't see many businesses in Cyprus conducting business after the Financial crisis remember Zerodays thread all to well
Thanks for the clarification.

Is it possible the business might open early for this reason? I was worried with the recent price rise NeoBee would be missing out.

There is not a single Microsoft product in our business (With exception to one VM running Windows for the Oracle Devs), all of our desktops are running Ubuntu, we got a good deal with Oracle, we already have clients and are providing our services 4 months ahead of schedule, I did wonder how long it would take to get the Oracle vs Open Source debate in full flow.

I cannot wait to announce the biggest brand we have so far, for the Bee network.Our lawyers and KPMG are actively dealing with the Central Bank establishing the framework for us to operate within and our customer facing websites are ready, just waiting for the University (It was a bank holiday yesterday)to give the .com.cy domains the go ahead.

As for burning capital, we are already under budget on many things (so far) the fortunate thing we have going in our favour is we are one of a handful of businesses spending money in Cyprus, this alone buys good deals.

Great, well then you're well aware that these institutions do just fine by using a wide variety of open source and proprietary software. There's no law that says that Microsoft or Oracle need to be used - far from it. I would just say that the focus for NEOBEE should be on establishing the critical relationships that they'll need to survive. The software they use to get up and running shouldn't be picked on pure open source ideological reasons - it should be based upon a number of criteria, including what expertise the technical team has. If they're a bunch of C# coders then MS wouldn't be the worst choice.

I have worked in the biggest financial institutions(CITI,HSBC, etc) yawn. 

The reason you should follow the open source principle is because Bitcoin is open source and NEOBEE would not exist without it being so.

As long as the software does what is needed why wouldn't you go the open source route? 

I don't think there is a law in finance that you have to use Microsoft?

From the comments, it seems that many people here have never worked at a major financial instituion...

Personally, while I laud the support and use of open source software, it's not my focus by investing in NEOBEE. I actually could care less about the software framework choices and would be far more interested in seeing NEOBEE establish the relationships with the regulators and banking industry that's going to be necessary for them to succeed. The software used in creating a business is completely secondary.

That building was being built without our investment. I believe most of our investment is going towards upholding the deposit procedures and such.

I would hope that NEO and BEE support opensource software where possible.

Don't waste BTC on Microsoft crap when you can get just as good open source alternatives.

We have no idea how Oracle is being used, how many processors they might have licensed, what edition they purchased or what pricing they might have negotiated. Regardless, it's very unlikely that the database cost is going to be all that critical to whether or not NEOBEE is a success, IMO.

http://www.oracle.com/us/products/database/enterprise-edition/comparisons/index.html

Reasonable point
They should generate income before burning through it all

Of course there are ways to raise more cash if needed without "dilution", lol. Danny Brewster can simply sell a % of his stake to private investors, which would be the same as diluting his position solely. I am not saying that there will be such investors but it is a way to raise money without diluting minor investors.

Me neither, also their website is a mess.

By the way: I was defending Oracle a little bit earlier on, but that doesn't mean I'm opposed to using postgre...

Here's your answer:

"I'm Too Poor to Buy Cheap"

I'm not an Oracle licensing expert, but my understanding is that it is "too expensive for a (crowdfunded) startup". If anyone can correct that assumption I would be interested to hear it.

Don't they also have a user based license scheme instead of using CPU's?

I think you're missing the point. $47k per CPU is not an acceptable expense for a company that has raised maybe $1-2M. Every one of these initial dollars are precious. If they are all gone before NEOBEE is cash-positive, it fails.

NEOBEE has painted itself into a corner. No dilution. ALL of the public shares are up for sale at the current price point.

If they cannot succeed with the cash they have now, they will not succeed at all, because they have no way to raise more. And they sure are being careless with that cash.

Vycid gives NEOBEE a "don't buy" based on the way they are burning their capital and the absurdly optimistic business plan.

I would be interested in a justification from Danny for that $47k+ expense (or perhaps that he got a special deal?)

I knew he was joking but I am not - the difference between being a troll or not.

I thought it was kinda funny.