Topic: SANDSTORM: - A Collective Investment Vehicle for BTC. - - page 8. (Read 35774 times)

The bolded line is concerning.  Allowing folks to immediately purchase half the [edit] remaining [/e] IPO and you couldn't predict this type of buying?  Free market economy at its best.

lol yeah i figured, just want more ipo shares

I said twice that selling shares was suspended prior to you requesting these 5000units.

The only fair way to sell the remainder of the the shares after announcing the transfer to havelock was to sell the shares through the havelock platform.

1. The twitter account will be specific to Havelock Investments.  The existing Canadianbitcoins feeds will be only for that business (separate from Havelock).

2. I would post Havelock related questions to the Havelock thread to keep things simple.

Thanks

The problem in Sandstorm and what we've just seen, while a good model, is a perfect example of the problems inherent in BTC today.  Majority control of assets by a small group of people is the ever-present danger, allowing this to happen on any new investment opportunity further tarnishes what the opportunity *could have been*.  I've got the exact same trading/investment model as Sandstorm (for the most part) and agree it is profitable if done correctly and patiently, however there is no way I'd open it up to an IPO...

Which is why I was looking forward to invest in Sandstorm.  Which is why refreshing to go from No IPO Yet to Sold Out was disheartening a bit (but no major surprise).  Or seeing the initial buys and immediate 20x flip, that was suspect.  And then to get the email at 1:07EST saying "The IPO is live!".  Really?  After it sold out 6:59 ago?  That's bad form, yo.

This was my initial impression of Havelock and I can say I'm not so thrilled about it.  To let them release what amounts to a cash-n-dump IPO, regardless of the potential profitability of Sandstorm (which I think will likely do well if they continue on this model), makes me instantly weary of even following any future IPO or fund announcements until there is a serious reconsideration of how the initial units are sold.  Majority control by the few sucks in ANY market, hell, it's the death knell of BTC and has been since day one.

Btw, to the chap with the Ricky avatar - well played, sir.

Then someone will simply use two or three or four accounts.

If you're running an exchange, you need to be fair. If someone wants to buy all their shares available, then let them. Do not create artificial limitations.

A better IPO would have been launched in batches anyways.

Hi, putting a limit of the number of units per person during an IPO is something we'll be taking a look at.  "One option we can consider is limit the maximum number of units per person during an IPO based on a percentage of the units being released.  IE person A can only purchase 10% of the units at a time."  Thanks for your input.

why should there be a limit? the guy beat you to providing capital for SANDSTORM's "collective investment vehicle". should he not get to assume all that comes with it? it should make no difference to the owner of SANDSTORM who just needs an x amount of anyone's bitcoins to "create wealth through BTC related activities for a long time". lol

all a limit does is increase the probability you guys will be set up for a ponzi since whales kill how ponzis propogate..but so few of you have any experience in knowing how they're set up anyways. Oh well, live and let live. I will leave this here so I don't feel bad about not warning you guys enough.
First-Hand telling of an online Ponzi: Eve Online's Currin Trading

Also, I will be watching these securities very very closely to see if i can short these when excitement peaks again

Hi Mitchell,

i think the issue is not that there were not enough shares but that it was possible to a person with 2 accounts without too much efforts to buy out everything and then speculate by being 100% shareholder on havelock

why weren't there some tighter restrictions as to how many shares one account is allowed to buy?

Hello all,

I thought I'd address some of the issues brought up here.

1. "It's a scam":  The bitcoin community relies heavily on trust and we try to be as transparent as possible, as well as try to have our listing companies be as transparent as possible.  So far I have not seen any evidence of Sandstorm being dishonest.  Ultimately it's up to you as an investor to decide if the risk of purchasing any shares in any listing is worth the reward.

2.  "IPO sold out too fast/weren't enough shares": Sandstorm only released a limited number of shares because that represents the number of shares on which Sandstorm decided it can return a attractive dividend based on the assets it currently manages.  They could have released more shares but this would dilute existing investors' holdings/return on investment, which would have been not in the investors best interests.   

3. "The price is too high": I can't speak as to why an investor would pay X price for a share. It's up to each investor to determine at what price they believe a share should be worth and trade accordingly.  If you feel something is overpriced, then you do not need to purchase it (and I've seen numerous people post this sentiment as well).

All that being said, we're always open to suggestions to improve the IPO process and improve Havelock in general.  One option we can consider is limit the maximum number of units per person during an IPO based on a percentage of the units being released.  IE person A can only purchase 10% of the units at a time.  If anyone else has thoughts on how to improve the process, pleases let us know either here on bitcointalk.org or contact us at [email protected].

It's an exciting time in the bitcoin world and the interest in Sandstorm shows that the community cares a lot.   

Thanks,
Mitchell

Well I also do a lot of trading so this is interesting since you listed in Havelock I will have to believe LB cough I meant havelock on this one and give you a chance hes pretty observant on his listings
Best of luck I can use you as my index
See if I beat the index in any given week and get a bit of capital back  

Congrats on your IPO selling out in less than a minute too shoot darn napping on the ball to self well +1 BTC I'll play with the idiots and just use profit from the retardness level rising till I lose the profit and have whats left shares at fair market value and whatever I made from just using the profits from the silly trades

But Hot Dang kicked some aussie arse there I applaud you again and am scared now at the market will wait patiently for what you said is Fair Value and just arbitrage accumulated profit till logic kicks in and yes I will take the risk I am doing diligence and well mumbles if the market wants to do what it does lets it this will be a hard lesson for those who don't pay attention markets are rational, when people do their due diligence but before that kicks in its madness

Anyways I have just one more thing to say
Idiots with money are a guilt free opportunity  

Edited in
I read through the thread 10 pages is not much to read through compared to some threads ^^
Anyways I would put the dead man switch info on page 1 that's about it
Best of Luck looks fair enough in retrospect your IPO is the most profitable tip of the week

LB: Secret ninja  

That's not the solution. It's about getting the standard processes right for future IPOs. And it's about building trust for the community to invest in securities safely.

I would have bought a ton of shares, but had no chance. No way I'm buying this particular one post-IPO, that's why the IPO was important for me.

or just don't participate in this shady scheme

The IPO process is a bunch of bs. There should be a max number of shares per account if demand is that high. It's just unfair if the amount of shares you get depends on how often you hit F5...

A regular IPO process lets you buy as many shares you want before it goes live. Before the official listing, you get the PERCENTAGE of the shares you bought before vs. the number of shares available. That way, the issuer can even adjust the number of shares beforehand.

(repost from reddit)

+1