Topic: [IPVO] [Multiple Exchanges] Neo & Bee - LMB Holdings - page 169. (Read 658701 times)

Due to the announced closing of the BTCT.co virtual securities exchange, we have halted trading on the BTCT.co, TAT.NEOBEE, passthrough of this asset in preparation for a migration to NEOBEE on Bitfunder.com and/or NEOBEE on HavelockInvestments.com for all current shareholders.

We apologize for this inconvenience and appreciate your patience in this matter. We will be posting detailed instructions on the next steps for shareholders.

There are advantages and disadvantages to both options. A forced buyback may cost NEOBEE quite a bit of money since not everyone will use the funds from the buyback to buy NEOBEE on BF or HL. But without a forced buyback, you may end up with shares never being claimed.

This!

Can't say I love weexchange but I've not had a problem with it either. They've never had my funds for longer than the hour it takes to process the conversions.

Which would be no problem at all, as long as Burnside waives the fees - something that I'd like seen done for the last few weeks of operations.

Yes, I just don't want to deal with we exchange at all.  

tranfering shares will be a big mess, and there will be people who will not claim shares for some reason (there are still a lot of AM shares unclaimed from last time something like this happened). Much cleaner would be to forced buy back and let us buy in bitfunder/havelock ourself

reserved

 For someone trying to remove shares/btc from bf, you need access to 2 accounts, both with 2 factor. Seems pretty safe to me.

To my recollection no one has ever lost their shares from bf.

There is also Havelock

I invested on btct for the first time and the first time I've invested in a company with btc.. I do not want to use bitfunder because of we exchange..  I felt safest here.. Really bummed.. For those of us that don't like the decision of where our shares are going how do we go about refunds?

Manage a private shareholder list until either a new exchange opens or can be made (maybe even pull some strings with contacts at cySEC and launch our own platform).


Try my hardest to be with my daughter.


We already have a dead mans switch in place to ensure that there is not a single point of failure.

That is the plan, myself and TAT are just working out the logistics as I type this. We are fortunate enough to already have the underlying asset elsewhere and another pass through on Havelock so migration is much easier for ourselves.

I'm very happy to hear that. Hopefully all our assets could be transferred from BTC-TC to some other stock exchange.

I humbly suggest that LMB should act proactively and begin tracking shareholders internally and provide means to transfer shares between shareholders on request. It could either be a robot (e.g. the one suggested by jgarzik, maybe with an additional trigger condition in order to allow escrow/arbitration services), or can be done manually with certain limits (one transfer per 10000 shares per week). Pass-throughs can provide liquidity, but would not be the responsibility of LMB.

If the globe is hit by a gigantic asteroid - what's the plan? 

Hypothetically - both BitFunder/Havelock shut down along the way - what’s the plan?

Thanks for the update - looking forward to seeing what you guys come up with. I'm guessing individual investor preference as to which exchange their shares are transferred to is out of the question (Havelock, thx ).  

From the site:

IMPORTANT NOTICE TO ALL BTC TRADING CORP WEBSITE PARTICIPANTS

As a result of recent changes in the virtual currency regulatory environment, the btct.co and litecoinglobal.com virtual stock market websites will be closing down.  The following is our current schedule:

Approximately a week ago, both sites were closed to any new users and new asset creation was disabled.
 
Effective immediately, in conjunction with this release, trading will be halted, all order books cleared, and trading re-enabled.
 
October 7, 2013, all forms of secondary market trading will be halted on both sites.
 
Approximately October 31, 2013, both sites will be taken offline.  It is strongly suggested that participants take the following steps to protect all of their virtual assets:
 
All participants should take steps to transfer all of your BTC and LTC (and any other data you wish to keep, such as CSV trade histories) held on the sites to your personal computer or another trusted site.
 
All participants should make sure that their public BTC or LTC address is properly set in the Account page on the Settings tab whereby it can be shared with all issuers.
 
All “issuers” should have the contact information concerning their “investors”, and we ask that all “issuers” communicate with their “investors” as soon as possible as to how they will ensure that all are treated appropriately.
We regret this development. However, we want to do everything we can to minimize problems arising from this transition.  It is our goal to keep this shutdown orderly and calm.

Thank you for your participation, creativity, loyalty and sense of community over the past year.  Additional communications will follow as we work out the details.

Ethan Burnside
BTC Trading Corp.

Trading has been halted on BTCT so as to prevent any shareholders from panic out of ignorance to BTCT's closure and to allow a frozen state to make a migration easier.

We will provide more details about a migration plan once it is ready.

Thank you!

Good guess.