[IPVO] [Multiple Exchanges] Neo & Bee - LMB Holdings - page 173.

cryptocyprus

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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.

MilkyLep

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Bitcoin for all & all for Bitcoin

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, KEO and Leon, do you think there's room for another?

JimiQ84

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I understand this as bank where money is backed by bitcoins held by Neo. So, if something happens (like it happened in Cyprus earlier this year), customers don't lose their money, 'cause they don't hold euros, but bitcoins (it is just represented as euros).

EDIT: It's also more convenient for average Joe to have account with Neo, than just hold some virtual valet, which is essentially useless for day-to-day shopping.

fr33d0miz3r

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

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.

Customers will be able to choose what type of account they want to have: euro-pegged or bitcoins. Accounts of the second type will have static bitcoins amount.

kcirazy

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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.

cryptocyprus

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Activity: 686

Merit: 250

Quote from: wizzardTim on September 21, 2013, 12:26:18 PM

From what I read I think that buying Neo&Bee shares could be the chance of a lifetime!

I believe in what you're doing, congrats in making us move forward.

Thanks!

cryptocyprus

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Activity: 686

Merit: 250

Quote from: fr33d0miz3r on September 21, 2013, 12:24:22 PM

Quote from: cryptocyprus on September 21, 2013, 12:19:28 PM

If the company is registered in Cyprus then that legal entity is based (resident) here.

Good! Thank you for answers!

No problem. Your company can even accept Bee payments.

wizzardTim

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Reality is stranger than fiction

From what I read I think that buying Neo&Bee shares could be the chance of a lifetime!

I believe in what you're doing, congrats in making us move forward.

fr33d0miz3r

hero member

Activity: 518

Merit: 500

Quote from: cryptocyprus on September 21, 2013, 12:19:28 PM

If the company is registered in Cyprus then that legal entity is based (resident) here.

Good! Thank you for answers!

cryptocyprus

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Activity: 686

Merit: 250

Quote from: fr33d0miz3r on September 21, 2013, 12:17:22 PM

Are there any opportunities to have a legit corporate account at Neo&Bee?
For example, if I have a company registered in Cyprus, could I have a N&B account and be able to receive money from other countries using wire transfer? How legal would it be?

If the company is registered in Cyprus then that legal entity is based (resident) here.

fr33d0miz3r

hero member

Activity: 518

Merit: 500

Are there any opportunities to have a legit corporate account at Neo&Bee?
For example, if I have a company registered in Cyprus, could I have a N&B account and be able to receive money from other countries using wire transfer? How legal would it be?

cryptocyprus

sr. member

Activity: 686

Merit: 250

Quote from: fr33d0miz3r on September 21, 2013, 12:07:09 PM

Quote from: ex-trader on September 21, 2013, 11:58:38 AM

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

however the Bitcoin that we top our customers wallets up with, is taken from our own reserves that we openly trade with.

This make lots of money if BTC goes up, but will go bust if BTC falls.

The price will significantly rise only because of their new customers btw.

cryptocyprus, will the customers need be residents of Cyprus, or travelers/tourists/business people who are not residents but came to Cyprus will also be able to open accounts in your bank?

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.

pedrog

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Quote from: fr33d0miz3r on September 21, 2013, 12:07:09 PM

cryptocyprus, will the customers need be residents of Cyprus, or travelers/tourists/business people who are not residents but came to Cyprus will also be able to open accounts in your bank?

https://bitcointalksearch.org/topic/m.3102701

cryptocyprus

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Quote from: fr33d0miz3r on September 21, 2013, 12:07:09 PM

Quote from: ex-trader on September 21, 2013, 11:58:38 AM

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

however the Bitcoin that we top our customers wallets up with, is taken from our own reserves that we openly trade with.

This make lots of money if BTC goes up, but will go bust if BTC falls.

The price will significantly rise only because of their new customers btw.

Not at all, we will be adding demand and displaying that Bitcoin can succeed in the wider world, if anyone wants to jump ship who holds large volumes then the price will also decrease.

fr33d0miz3r

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Activity: 518

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Quote from: ex-trader on September 21, 2013, 11:58:38 AM

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

however the Bitcoin that we top our customers wallets up with, is taken from our own reserves that we openly trade with.

This make lots of money if BTC goes up, but will go bust if BTC falls.

The price will significantly rise only because of their new customers btw.

cryptocyprus, will the customers need be residents of Cyprus, or travelers/tourists/business people who are not residents but came to Cyprus will also be able to open accounts in your bank?

cryptocyprus

sr. member

Activity: 686

Merit: 250

Quote from: ex-trader on September 21, 2013, 11:58:38 AM

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

however the Bitcoin that we top our customers wallets up with, is taken from our own reserves that we openly trade with.

So again I'll ask simple questions.

How much reserves do you have? What price movement does this cover?

You are doing nothing more than gambling with all customers money. You owe them all their money in a fixed amount of Euros via the 'pegging of exchange rates' and are holding all your assets in Bitcoins.

This make lots of money if BTC goes up, but will go bust if BTC falls.

This is not a sustainable or sensible business plan.

Whilst Bitcoin has a use it will have value, we are adding to that usability on a large scale, we will hold our own reserves in Euro and Bitcoin. We do not use our customers money to trade with, we sell them Bitcoin to use and its associated benefits.

EDIT - We have provided a demonstration as to what we could hold as a minimum by the time we open for business and the rate decreases from the top of the April bubble through a crash based on holdings as documented in the prospectus.

ex-trader

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

however the Bitcoin that we top our customers wallets up with, is taken from our own reserves that we openly trade with.

So again I'll ask simple questions.

How much reserves do you have? What price movement does this cover?

You are doing nothing more than gambling with all customers money. You owe them all their money in a fixed amount of Euros via the 'pegging of exchange rates' and are holding all your assets in Bitcoins.

This make lots of money if BTC goes up, but will go bust if BTC falls.

This is not a sustainable or sensible business plan.

ex-trader

sr. member

Activity: 298

Merit: 250

Quote from: pedrog on September 21, 2013, 11:31:24 AM

You clearly haven't been following this topic.

Are you looking for investing or should I just put you in the ignore list? Getting really tired of trolls on securities section, makes it really hard to follow the topics!

Please put me on your ignore list. You are clearly convinced everything is ok with the plan, so you have no need to pay attention to any of my questions or warnings.

cryptocyprus

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Quote from: Deprived on September 21, 2013, 11:47:12 AM

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

Deprived - the wording of the account contracts is being prepared as part of our regulatory proposals.

I wasn't asking for them now - or suggesting they should be ready yet. I was just saying that I'll be interested to read them whenever they're done. I wouldn't expect them to be completed until a lot nearer launch.

Sorry if my comment was read as though I believed they should have already been published - that wasn't my intent.

No I was just pointing it out, that we are already onto that part. All of our customer documentation will be in large print (even the boring parts) there will also be English & Russian translations of the documents which I will openly provide for everyone to see.

Much of the text will be determined by the acceptance of our proposals to the regulators and their direct input on that particular matter.

Deprived

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

Deprived - the wording of the account contracts is being prepared as part of our regulatory proposals.

I wasn't asking for them now - or suggesting they should be ready yet. I was just saying that I'll be interested to read them whenever they're done. I wouldn't expect them to be completed until a lot nearer launch.

Sorry if my comment was read as though I believed they should have already been published - that wasn't my intent.

Topic: [IPVO] [Multiple Exchanges] Neo & Bee - LMB Holdings - page 173. (Read 658701 times)