Topic: [IPVO] [Multiple Exchanges] Neo & Bee - LMB Holdings - page 156. (Read 658701 times)

Damn, too bad about BitFunder. Amazing how not one but two major disruptions have now occurred during this IPVO!   Then again, after BTC-TC shuttered (presumably from SEC pressure) it seemed pretty within the realm of possibility that other exchanges would try to distance themselves from US customers. One would hope that TAT and cryptocyprus have held this in the back of their minds as well and have been at least thinking about different contingency plans if the need should arise.

Lots of NEOBEE panic selling right now on BitFunder, likely due to US customers quickly divesting. But this seems very premature. I hope TAT and/or cryptocyprus can tell us soon how they plan to proceed, I will look forward to their announcement. In the meantime, we can start discussing about the merits various contingency plans.

As I see it, converting BitFunder shares to Havelock shares for US persons (or just persons who wish to retain more anonymity), or migrating old BTC-TC shares to Havelock for these persons, seems somewhat unwise perhaps. Who's to say that Havelock won't be the next exchange to require that their customers prove they are not American? Perhaps there just isn't a safe haven right now. If migrating to Havelock *is* what TAT/cryptocyprus recommend for US persons or anonymity-conscious persons who don't wish to divest, perhaps the 1 BTC exchange transfer fee could at least be reduced or eliminated temporarily as these are unique circumstances.

Maybe the best solution right now would be to let people convert to direct shares though. I think this is a good solution for US persons or anonymity-conscious persons who think they'd like to hold onto shares more long-term. Direct shares do have the disadvantage of lower liquidity (as it's more cumbersome to sell them), but I think the direct shares probably can just be a holding pattern for now. In time, it should be possible to migrate these shares to newer, and better securities exchange systems when they are developed (like a distributed, coloured coin-based platform, for instance).

How about it, TAT and cryptocyprus? Can direct shares be another option for now? Anyone with shares on BitFunder would simply need to sign a message using their public BTC address in order to demonstrate ownership.

I guess on the positive side, all these troublesome developments are occurring before dividends have started to roll in. That would probably complicate matters a lot more. Let's hope we can arrive at a more permanent solution for share issuing before all the real fun begins.

A nice calm, rational response void of any bold, over-sized font.

Thanks, TAT - look forward to the update.

This. I need to have a meeting with Danny to discuss our next steps. Due to time zone differences we will need some time to sync up.

Generally speaking, the shares still represent what they always did. Choosing to sell at loss now is no different than before the announcements.

I will sync up with Danny on Wednesday hopefully, and we'll update everyone once we have confirmed how we are proceeding.

wait.


everyone chill out and WAIT to see what the asset issuer is going to do about the matter. selling shares at a loss at this point is ill informed and premature. surely NEOBEE will have a contingency/ backup plan for this unforseen circumstance. im pretty sure the response is being carefully crafted at this time (unlike the announcement that initiated this shitstorm). surely they are aware of this.

Green

How can I transfer shares to Havelock?

It says:

"How to Transfer Shares:
Simply push the amount of shares to the issuer account on the source exchange, then send an e-mail to [email protected] noting your account name on the destination exchange you have chosen. Please use the same e-mail address you have registered with the source exchange for verification purposes."

What is the name of the issuer account on bitfunder I have to push the shares to?

Also, how do I go about paying the 1 BTC fee? Who do I send it to?

Dividends are calculated based on the company profits.

I'm in the same boat, but there are a lot of investors in the USA, that's a lot of liquidity lost!

Aren't the dividends calculated based on the shares price?

Same here, In fact I just took the opportunity to buy some more

Nah. I'm still happy, because:

1. I'm not from US;
2. I'm a long term investor here. I'm interested in future dividends, not in the shares price;
3. I still want to be a part of something new and huge.

Any chance Neo & Bee will cancel the IPO and we can get our money back. A lot of investors are going to be very unhappy.

This is really really bad. Neo Bee is already trading at well under IPO price on Bitfunder and I imagine it will continue to drop. I'm considering transferring to Havelock but most like I will sell before Havelock gets shut down too. This might just be the end of Bitcoin securities.

So basically, prove you're not US, or be treated as US.

same concerns.

so now what? I use Havelock Investments pretty exclusively (utilized BitFunder heavily at one point when i was into asicminer, but was uncomfortable with the WeExchange wallet/interface (which is actually a pretty sound/safe idea)). I even liquidated my pre IPVO shares on BitFunder to move the btc to Havelock and reinvest.

obviously this will be a logistical nightmare. cryptocyprus, if you will, what are the short term plans to deal with this second, unexpected complication in this offering? I find it ironic that one of the most legitimate btc denominated securities  in existence is being plagued by all these sudden developments. you and Tat have handled these twists in the past and im confident this won't be a deal breaker/ game changer.

so, basically, if you are a US resident, you can't transfer your NEOBEE shares into Bitfunder?

Wow, this is interesting.  I expect most of the securities to drop in value.

How will this affect NeoBee?  All of the US investors will be forced to sell at a loss, now?

Eesh, that's pretty brutal.

This depends on Bitfunder now. There is no practical way to render the shares to individuals in bulk. I have reached out to Ukyo to assist with this, but he his busty with other issues:


Havelock shares are already processed for the most part, just need to process the latecomers.

TAT seems a bit busy at the moment.. give it some time.

https://bitcointalksearch.org/user/thickasthieves-79242

+1

what's the ETA on migrating shares from BTCT to Bitfunder?  I sent in my request a while back (as soon as you posted instructions), and I am surprised they haven't been migrated yet.