Topic: SCAM IPO [Bakewell] - Finally, a 'transparent' investment that will 'grow'! - page 13. (Read 47857 times)

Ian, where is all the different information so far? From my count there is asset creation fee, transfer fee on private sales, cash in from asset sales, cash out for asset redemption (at a lower price than sold), btc -> usd transfer, and rig purchase, cpa contract in and out. Anything else?

Fine by me. Add average hashing rates for each rig, too.

+1
and +1 for johnjay3000

Lets start with a basic Cashflow, later we can expand this thing...

Personally I would like to see where money is being spent (i.e. transfer fees, equiptment, etc.) and where money is coming from (i.e. mining, share sales). However I would be more than happy with just a basic covering of incoming and outgoing.

Well, let's start with the obvious, you want a Google docs spreadsheet. What info you do want in it?

It would be interesting if you could raise USD for a mining company somehow, rather than btc.

Then all your accounting is in USD and bitcoin is simply used as the transport protocol to get the USD to you.

Bitcoin is also the transport protocol to get the usd back to investors as dividends to save paypal and bank fees.

Do not do a NAV.

NAVs are for assets funds like BMF and MOVE.TO (things that are a compilation of other things).

Stocks (like BAKEWELL) have Market Capitalization, Price/Earnings ratios etc.

You can give the investors a list of all company owned assets (like the 2 rigs you just bought) and left over BTC. This will give us a number, but it doesn't give us a true valuation of the company. How you use those assets, your plans, and your ideas help increase (or decrease) the value. This is how a company stock price can rise (or tank) when a new CEO takes over--even though the rest of the company hasn't changed.

So, the only way to really figure out a market capitalization (and price per share) of a company stock is find out what people are willing to pay for it on the market. If the market thinks the company will succeed, then the price will rise. If not, then the price will fall.

The more people that are confident in a company, the stronger the price will be.

Of course there are things you can do to help the price. (See my opinion)

As an investor, there are two ways to make money on a stock in the long run: Growth and Dividends.
- Growth is allowing the share price to.. uh, well... grow. The classic buy low, sell high.
- I'm sure we all know what dividends are (paying out company profits to shareholders).

My opinion:

It's very very difficult for a company to do both (growth and dividends). So I would focus on one or the other, and it looks like you already have everything ready for dividends. I think everyone here would prefer dividends as well.
The best course of action is to:
Maintain the price by keeping the company strong and issue dividends on a regular basis.
Taking down the huge ask wall is a good start. There is simply not enough BTC going around to fill that wall (liquidity crunch). So the share price will never rise above it. I agree with deprived on that issue.
Release shares in smaller batches is the way to go.

I agree with Deprived's post.  I think it is in everyone's best interest ultimately in the end to only have shares that reflect the rigs we have + funding a new one.  Releasing everything at once only serves to devalue what existing holders have..

+1 for something a lot more solid than I have.

Even with the startup troubles going on, they are temporary and will pass. Bakewell is gathering steam and will be a hell of an asset to have soon.

Now if only I can find more coin to throw in...

Ian,

Just wanted to say, as I lurk this thread, that I'm pleased with the way you handle and conduct the management of this asset.

I was approached by someone wanting to borrow GLBSE assets to short, and I presented a screen-shot of my current holdings.

They weren't interested in shorting BAKEWELL.

Something like S.Dice would be the simplest and quickest to drop in and use. First x many shares (probably 2500 here) are sold for regular price, then there's a small bump up in price, then repeat. Add in a week between release of selling out of one block and starting the next and you may see the price rise more on it's own that it would with just staggered releases. Depending on rate and market of course this sort of plan could get the price up to 0.175-0.2 pretty easily by the time everything is sold out.

The biggest problem I see coming is that any change in sales may make it harder to finish the IPO quickly, and the end goal is to be able to buy a SC Rig (or comprable) sometime before the end of the year (is there any sort of established goal time yet?, maybe just before the GPUs are useless).

The other thing you might want to consider looking into is the release of further shares, as long as you can do it without stalling the growth of current shares it may be worth looking into, but that's probably something for another motion.

Thank you Usagi and Ian.  Now that this is all done I hope that this can be put to rest and we can move on now.

Through the mountain of bullshit and everything else there is this.

However funds have already been received on the address Ian provided from a vanity address belonging to usagi. blockchain.info.

Maybe an impending dividend will help sell some IPO shares then. Here's hoping.

I honestly think the best thing to do is pay the stupid dividend to get the BTC back from usagi, and then you don't have to deal with him anymore.  As a bonus, those of us who own shares don't have to shuffle through more back and forth BS that is accumulating in this thread and doesn't matter.

You use "principal" for principle and smickles uses "principle" for principal? What are you, twins?

And not shockingly, Usagi is now spreading FUD about Bakewell, as things do not appear to be going his way. Acting like a child and taking constant underhanded swipes at your clients and former clients is not the way to try to drum up support for your business.

Ideally, that specified time would be in 2020. Combine this with the idea of holding IPO proceeds in escrow and you have an almost safe GLBSE.

for those of us playing along at home
are you guys really arguing over 4btc ? or is that some initial payment or something ?

Its more likely that the market for funding other people's mining farms is saturated.

I don't think it#s being done to wreck IPOs - it's being done because it's profitable.  It's a direct effect of IPOs that offer bonus shares/discounts to large buyers AND put far more shares up for sale then will sell out in a short period.

How to make money on such IPOs:

1. Buy bulk shares, so you pay less than the listed IPO price.
2. Relist said shares at 1 satoshi below IPO price.
3. Once they've sold, if there's still bulk shares left go back to stage 1.

It makes the person doing it profit - without the IPO issuer selling any more shares to the public.  I'd considered doing it myself on this specific offering to be honest: as it's the perfect sort of IPO to make money in that way (about 9% profit basically).  To be clear, I haven't done it (yet) on this OR any other IPO - but it's precisely (one of) the sort of thing my tiny LTC fund (which you're aware of) intends to do.  We're not looking to make money by picking good value investments (as there aren't many).  We're looking to make money from the poor judgment of both asset managers and investors.

My point: if it's being done intentionally there's a perfectly sound reason to do it for financial gain - so no need for conspiracy theories about someone trying to wreck IPOs.

No way GLBSE should lock trading on IPOs that don't sell out fast:

1.  Investors should have the ability to liquidate assets.
2.  It would make the IPO sell out even slower - as with a bid-wall (or bid-mountain in this case) noone can buy in unless they believe there's a near-zero chance of them being able to cash-out in the foreseeable future.
3.  Why punish investors/speculators for the short-sightedness of an asset issuer?