[IPVO] [Multiple Exchanges] Neo & Bee - LMB Holdings - page 172.

cryptocyprus

sr. member

Activity: 686

Merit: 250

Quote from: kingcrimson on September 22, 2013, 12:13:43 AM

What % of shares are gone? Are you happy with the sales so far, is it slow or on target?

I am happy with the progress so far, never expected it to sell out within 24 hours, it is an extremely large amount of BTC. There will be lots more announcements happening almost every day from now until launch.

Just having my first coffee of the day, when I have finished I shall check the percentages.

kingcrimson

legendary

Activity: 1025

Merit: 1000

What % of shares are gone? Are you happy with the sales so far, is it slow or on target?

cryptocyprus

sr. member

Activity: 686

Merit: 250

By the time we get to market the capital controls will no longer be enforced, the regulators are being made aware that they cannot regulate the protocol too.

Yes the power of the banking lobby, don't under estimate the power of the people that put the government into power either, they for some reason currently have a very sour taste in their mouth with regards to the traditional banks. All the politicians are now very concerned about gaining the support of the public following the fiasco.

shaft

newbie

Activity: 7

Merit: 0

Quote from: cryptocyprus on September 21, 2013, 11:42:51 AM

To open a wallet with Neo initially you will need to be a Cypriot resident, we will be opening this up to EU customers once we have ensured no backlogs are created upon start up.

Bee on the other hand will be open to everyone on the island including tourists, you will be able to purchase pre-paid Bee cards (top up with BTC) and or use your smartphone wallet through the POS terminals. The prepaid cards would reduce data roaming fees for existing Bitcoiners who are on their travels in Cyprus.

as a tourist this is fantastic!

Vbs

hero member

Activity: 504

Merit: 500

I'd have to say the prospectus looks very thorough and solid, with detailed milestones and expected expenditures.

The initial and immediate effort in marketing/PR is laudable, I think it will be key for your long-term success and immediate capture of public attention. Get that snowball going downhill asap! Grin

Did a little digging about the software house you're using, they seem an excellent choice: http://www.pvs.com.cy/index.php/company-profile-software-development-cyprus/

237

sr. member

Activity: 264

Merit: 250

Quote from: kcirazy on September 21, 2013, 03:41:10 PM

Quote from: cryptocyprus on September 21, 2013, 01:36:36 PM

No we don't hold the only private key, this is detailed throughout the thread and in the prospectus.

I'm sorry. I made that assumption because it was mentioned that bitcoin balance was corrected as if pegged to the euro.
But then how would you make those corrections to the balance?

Please read the prospectus and the whole thread before asking qustions.

It's starting to repeat itself, and most questions asked here are already answered in the prospectus.

kcirazy

newbie

Activity: 53

Merit: 0

Quote from: cryptocyprus on September 21, 2013, 01:36:36 PM

No we don't hold the only private key, this is detailed throughout the thread and in the prospectus.

I'm sorry. I made that assumption because it was mentioned that bitcoin balance was corrected as if pegged to the euro.
But then how would you make those corrections to the balance?

Herp

sr. member

Activity: 294

Merit: 250

Quote from: JimiQ84 on September 21, 2013, 03:33:17 PM

Quote from: Herp on September 21, 2013, 03:31:40 PM

Well that's interesting but I assume they will have to comply with the currency controls in place or will be forced to do so, especially as rival banks will see them having an unfair advantage in this area.

I'd say this advantage is very fair :-) nothing is stopping rival banks from using bitcoin as means of international money transfer

Not when it circumvents the currency controls the country put into place. This creates a conflict of interest with the very country they're trying to get approval from. Doesn't take a genius to figure out it won't be allowed.

Also, don't underestimate the power of the banking lobby.

JimiQ84

sr. member

Activity: 406

Merit: 250

Quote from: Herp on September 21, 2013, 03:31:40 PM

Well that's interesting but I assume they will have to comply with the currency controls in place or will be forced to do so, especially as rival banks will see them having an unfair advantage in this area.

I'd say this advantage is very fair :-) nothing is stopping rival banks from using bitcoin as means of international money transfer

Herp

sr. member

Activity: 294

Merit: 250

Quote from: JimiQ84 on September 21, 2013, 03:26:36 PM

Quote from: Herp on September 21, 2013, 02:57:01 PM

Your business plan is interesting but:

What incentive will a Cypriot have to deposit money with you when he can just deposit Euros into a real bank where deposits are insured up to 100,000 euros by the state? If he/she owns more than 100,000 euros, can just open multiple 100,000 accounts at several banks to benefit from the insurance.

Keep in mind that no Cypriot holding less than 100,000 euros lost any money so far in those bail-ins. Only those who held more than 100,000 lost money.

It would be more interesting to try and get customers for non-pegged deposits. Those might prove more attractive. Have your bitcoins linked directly to a debit/credit card for daily purchases. I can see the attraction of that but can't see the attraction of your pegged model. Sure, I can see some very wealthy people scared of bail-ins going down this path, but don't see many casual retail customers doing it. Those who know and like Bitcoin will just pick the Bitcoin deposit, not the peg and those who don't know about Bitcoin will just use a regular bank with deposit insurance on <100k euro accounts.

Another reason is the limit of 5000 euros/month for international money transfer (bitcoin doesn't have the limit)

Well that's interesting but I assume they will have to comply with the currency controls in place or will be forced to do so, especially as rival banks will see them having an unfair advantage in this area.

Herp

sr. member

Activity: 294

Merit: 250

Quote from: cryptocyprus on September 21, 2013, 03:03:44 PM

Quote from: Herp on September 21, 2013, 02:57:01 PM

Your business plan is interesting but:

What incentive will a Cypriot have to deposit money with you when he can just deposit Euros into a real bank where deposits are insured up to 100,000 euros by the state? If he/she owns more than 100,000 euros, can just open multiple 100,000 accounts at several banks to benefit from the insurance.

Keep in mind that no Cypriot holding less than 100,000 euros lost any money so far in those bail-ins. Only those who held more than 100,000 lost money.

It would be more interesting to try and get customers for non-pegged deposits. Those might prove more attractive. Have your bitcoins linked directly to a debit/credit card for daily purchases. I can see the attraction of that but can't see the attraction of your pegged model. Sure, I can see some very wealthy people scared of bail-ins going down this path, but don't see many casual retail customers doing it. Those who know and like Bitcoin will just pick the Bitcoin deposit, not the peg and those who don't know about Bitcoin will just use a regular bank with deposit insurance on <100k euro accounts.

The first proposal was to take a percentage of peoples money whom had €1000+ in their account. It very nearly happened

First proposal didn't fly and couldn't fly because majority rules. Future bail-ins will apply to accounts above 100,000 Euro across the EU. It was confirmed repeatedly by EU officials that all accounts below 100,000 euros won't be touched by any future bail-ins. I see, however, potential of money being stolen by ECB money printing of Euros as most people are too stupid to realize such move would basically equal a bail-in. Your peg doesn't help with that though.

JimiQ84

sr. member

Activity: 406

Merit: 250

Quote from: Herp on September 21, 2013, 02:57:01 PM

Your business plan is interesting but:

What incentive will a Cypriot have to deposit money with you when he can just deposit Euros into a real bank where deposits are insured up to 100,000 euros by the state? If he/she owns more than 100,000 euros, can just open multiple 100,000 accounts at several banks to benefit from the insurance.

Keep in mind that no Cypriot holding less than 100,000 euros lost any money so far in those bail-ins. Only those who held more than 100,000 lost money.

It would be more interesting to try and get customers for non-pegged deposits. Those might prove more attractive. Have your bitcoins linked directly to a debit/credit card for daily purchases. I can see the attraction of that but can't see the attraction of your pegged model. Sure, I can see some very wealthy people scared of bail-ins going down this path, but don't see many casual retail customers doing it. Those who know and like Bitcoin will just pick the Bitcoin deposit, not the peg and those who don't know about Bitcoin will just use a regular bank with deposit insurance on <100k euro accounts.

Another reason is the limit of 5000 euros/month for international money transfer (bitcoin doesn't have the limit)

cryptocyprus

sr. member

Activity: 686

Merit: 250

Quote from: Herp on September 21, 2013, 02:57:01 PM

Your business plan is interesting but:

What incentive will a Cypriot have to deposit money with you when he can just deposit Euros into a real bank where deposits are insured up to 100,000 euros by the state? If he/she owns more than 100,000 euros, can just open multiple 100,000 accounts at several banks to benefit from the insurance.

Keep in mind that no Cypriot holding less than 100,000 euros lost any money so far in those bail-ins. Only those who held more than 100,000 lost money.

It would be more interesting to try and get customers for non-pegged deposits. Those might prove more attractive. Have your bitcoins linked directly to a debit/credit card for daily purchases. I can see the attraction of that but can't see the attraction of your pegged model. Sure, I can see some very wealthy people scared of bail-ins going down this path, but don't see many casual retail customers doing it. Those who know and like Bitcoin will just pick the Bitcoin deposit, not the peg and those who don't know about Bitcoin will just use a regular bank with deposit insurance on <100k euro accounts.

The first proposal was to take a percentage of peoples money whom had €1000+ in their account. It very nearly happened

Herp

sr. member

Activity: 294

Merit: 250

Your business plan is interesting but:

What incentive will a Cypriot have to deposit money with you when he can just deposit Euros into a real bank where deposits are insured up to 100,000 euros by the state? If he/she owns more than 100,000 euros, can just open multiple 100,000 accounts at several banks to benefit from the insurance.

Keep in mind that no Cypriot holding less than 100,000 euros lost any money so far in those bail-ins. Only those who held more than 100,000 lost money.

It would be more interesting to try and get customers for non-pegged deposits. Those might prove more attractive. Have your bitcoins linked directly to a debit/credit card for daily purchases. I can see the attraction of that but can't see the attraction of your pegged model. Sure, I can see some very wealthy people scared of bail-ins going down this path, but don't see many casual retail customers doing it. Those who know and like Bitcoin will just pick the Bitcoin deposit, not the peg and those who don't know about Bitcoin will just use a regular bank with deposit insurance on <100k euro accounts.

cryptocyprus

sr. member

Activity: 686

Merit: 250

Quote from: BunworthBanshee on September 21, 2013, 02:20:53 PM

This really is looking great, My first tin foil hat post looks so silly now Tongue

,

But thank you for answering as I am now a proud owner of a few hundred shares, Grin

There was always going to be one Wink

I will be releasing more and more information over the coming weeks and months.

BunworthBanshee

member

Activity: 82

Merit: 10

This really is looking great, My first tin foil hat post looks so silly now Tongue

,

But thank you for answering as I am now a proud owner of a few hundred shares, Grin

cryptocyprus

sr. member

Activity: 686

Merit: 250

Quote from: kcirazy on September 21, 2013, 12:47:58 PM

Quote from: Deprived on September 21, 2013, 10:37:24 AM

2. If you choose to leave the bitcoins with them then thereafter the amount of bitcoins in that address are adjusted so as to always have a value equivalent to the euros you deposited.

What?

So they sell you bitcoins and hold the private key for you, so they can increase or decrease the amount if the value fluctuates.
Potential to make A LOT of money when the value of BTC rises. Bankrupcy when Bitcoin fails. Interesting bet.
Not sure why you would go for that as a customer, but hey... if they can find people that do - good for them.

I wish them good luck.

No we don't hold the only private key, this is detailed throughout the thread and in the prospectus.

cryptocyprus

sr. member

Activity: 686

Merit: 250

Quote from: JimiQ84 on September 21, 2013, 01:05:40 PM

Quote from: cryptocyprus on September 21, 2013, 01:02:37 PM

Quote from: MilkyLep on September 21, 2013, 12:53:45 PM

I admire your tenacity to delve into any and all questions people throw your way. IMHO it shows the deterministic and motivated attitude which many bitcoiners possess and wish to share with the world. Bitcoin is a tangible movement driven by the intangible, I can't wait to follow Neo & Bee's success.

I'm ready to pick up more shares.

That is all. Grin

Off-topic PS : Your earlier statement regarding corporate accounts sent a thought through my mind. I see there are two main breweries in Cyprus, NEO and Leon, do you think there's room for another?

It is Keo, we are Neo

Carlsberg has a large market share too, but I don't really drink so not the best positioned to comment, however the island is full of British Expats of which the majority like a beer or two. I guess you own a brewery?

I want to answer every question in relation to the business, those that have been here to see me either in passing or for business matters, know I can talk for hours on the intricacies of the business. However whilst in Amsterdam my time will be even more tight, the same for when I return but I will make an hour or two a day in the evenings to answer questions in the thread and provide updates and related news/images etc.

Maybe later you'll have some time to update first post of thread with FAQs

I will get this done tomorrow evening.

ex-trader

sr. member

Activity: 298

Merit: 250

Quote from: kcirazy on September 21, 2013, 12:47:58 PM

Quote from: Deprived on September 21, 2013, 10:37:24 AM

2. If you choose to leave the bitcoins with them then thereafter the amount of bitcoins in that address are adjusted so as to always have a value equivalent to the euros you deposited.

What?

So they sell you bitcoins and hold the private key for you, so they can increase or decrease the amount if the value fluctuates.
Potential to make A LOT of money when the value of BTC rises. Bankrupcy when Bitcoin fails. Interesting bet.
Not sure why you would go for that as a customer, but hey... if they can find people that do - good for them.

I wish them good luck.

You summed it up perfectly. It a free option based on deceiving the customer that their deposits are somehow safe.

If there are bitcoin owning investors who don't understand the risks of this business (and there are plenty as Labcoin and Activeminer and Avalon etc prove) then good luck.

Mark my words - you have all been warned.

JimiQ84

sr. member

Activity: 406

Merit: 250

Quote from: cryptocyprus on September 21, 2013, 01:02:37 PM

Quote from: MilkyLep on September 21, 2013, 12:53:45 PM

I admire your tenacity to delve into any and all questions people throw your way. IMHO it shows the deterministic and motivated attitude which many bitcoiners possess and wish to share with the world. Bitcoin is a tangible movement driven by the intangible, I can't wait to follow Neo & Bee's success.

I'm ready to pick up more shares.

That is all. Grin

Off-topic PS : Your earlier statement regarding corporate accounts sent a thought through my mind. I see there are two main breweries in Cyprus, NEO and Leon, do you think there's room for another?

It is Keo, we are Neo

Carlsberg has a large market share too, but I don't really drink so not the best positioned to comment, however the island is full of British Expats of which the majority like a beer or two. I guess you own a brewery?

I want to answer every question in relation to the business, those that have been here to see me either in passing or for business matters, know I can talk for hours on the intricacies of the business. However whilst in Amsterdam my time will be even more tight, the same for when I return but I will make an hour or two a day in the evenings to answer questions in the thread and provide updates and related news/images etc.

Maybe later you'll have some time to update first post of thread with FAQs

Topic: [IPVO] [Multiple Exchanges] Neo & Bee - LMB Holdings - page 172. (Read 658701 times)