Topic: VTX on Havelock rallying! - page 2. (Read 5061 times)

Your unbridled optimism would be refreshing if there was any sort of basis for it.

Price at all-time low, still no dividends in sight, virtex still hauling in money hand-over-fist. They've probably collected around 2,000 BTC in fees in the past six months alone.


At this point, the only thing that's severely undervalued is the shareholders

Agreed, has been depressing but I'm still holding. Too be honest looking at price and volume on virtex lately shows that they are most definitely raking in more profit then ever, have a huge influx of people trying to get verified, and once they get miicard set up they'll be able to get all their employees back to working on features for the exchange without having to worry about all this verification crap which has been a huge bottleneck.

There's a lot of things going on on virtex such as shorting, litecoin and Ppcoin support and I even know there are talks of them expanding internationally. Their sales team is working very hard to sign up large Canadian business and educating them on accepting bitcoins through virtex's merchant api... I've heard through the grapevine that there has been quite a bit of recent success on that front and we may see the fruits of that labour very soon.

If we're in for a bit of a downtrend like it seems then we should see the shares get a chance to recoup. Remember virtex makes money when the price goes up down, sideways, and even more so during times of high volatility. They're also a bit of a hedge to buy when you think bitcoin may be going down rather then cashing out into fiat. Also buying any altcoins as a protection against bitcoin failing? Virtex can also act as that because no matter which coins reins supreme virtex will be in a good position to provide it. Once they get through through their growing pains and solve this verification bottleneck they are in for some smooth sailing I believe. I think the chart has bottomed and when we finally receive a solid dividend I'm sure all the holders out there will be very pleased they managed to wait this out.

These shares are severely undervalued and I've been continuing to scoop up more.

Well, it is December 2013, and this thread is pretty funny to read now, in hindsight, when the price has been at 0.15 for a good while.

Or the merchant API will look to become a serious future money maker... Anywho buying pressure looks to be picking up steam again!

Their valuation seems reasonable(ish), but I have nothing to base a p/e ratio on.  It's a gamble.  I expect one of two things will occur when they announce their first div.  1 - They'll split because the buy in isn't enticing, or 2 - The price will dive.  There is a third option (the value will increase), but for this to happen I believe the first div would have to be really damned good.

Really? If you had a chance to buy into BitPay in it's infancy would it's shares have really dropped to .0001 just because their div wasn't immediately "fucking spectacular"? This is the route Virtex is trying to go in Canada.

$50 usd a share for access to only 10% of the profit and no div history at all.  Their first div better be fucking spectacular or this one's gonna get dumped down to .0001 instantly.

As a customer i like the company, never had a problem. As in investor there isnt enough information to value the shares. Revenue can be approximated, but we can only geuss at margins. Having said that i feel it is a well run company and it should do well if bitcoin is here to stay. I own a few shares, I just hope that when they finally release some financial information the shares i already own arnt widly over valued

I traded there before too and happy.  Definitely hope they are successful so I do not have to wire money to eastern Europe or used my old connections in HK / China to trade.  At the end of the day, I don't think the valuation is there at this point.

So, y'know, caveat omnes.

Although, the merchant API certainly is exciting news. The company itself gets a +1 in my book, as I've been dealing with them since Nov '12 without any issues.

The 10000 represents 10% stake. Also until recently they were raking in 3% fees each way. The fact that they lowered their fees, even after their only competitor, LibertyBit, shutdown is pretty telling that they've got their ducks in a row.

The Merchant API is supposed to be their ticket to becoming the BitPay of Canada, reaching out to Canadian companies who are already upset with current credit cards fees to help spread the word of Bitcoin. They seem like an extremely well run company and they are just about the only company that has a chance of pulling something like this off in Canada. As long as Bitcoin continues to take off this is one company I believe should be in a good position to take off with it... In regards to Canada anyway. (I am Canadian so perhaps I'm a bit biased for some homegrown companies)

There are no financial reports yet, but with a 30 day volume of 16k btc, 1.5% max fee (3% on both side) - you are looking at an annual revenue of $576k CAD at about 100 CAD / BTC.  Take away lawyers, hosting, salaries, bank fees, etc.  Not sure how much is left as profit if there's even one.

Also, what does the 10000 shares listed in havelock represent in terms of the total stake of the company?

Well it's fallen back down again... Here's probably the last chance to get some cheap shares before cavirtex releases their new Merchant API next week!
http://www.reddit.com/r/Bitcoin/comments/1jz36j/the_canadian_virtual_exchange_is_seeking_a/

Doesn't the fact that people could currently sell into 17 shares @ 80% profit but are choosing to not do so tell you something? I sure won't.

Still smells like a pump to me. Check out the outstanding bids.

Merchant API and dividend announcement around the corner. The fact that they lowered their fees means they've made enough cash to fund their aggressive growth. They've made a boat load of cash off those outrageous fees I'm sure.

Selling at 0.95 right now. Anyone have any theories as to why?  insider knowledge? I see they lowered their fee's should this not mean lower revenue, or are people expecting more volume because of this?

You may still be crazy, but the fee reduction is great news. Low-volume traders now pay 1.5% instead of 3%!

Well don't ya know.... Virtex lowers their fees! I guess I'm not crazy;)

https://twitter.com/cavirtex

I'm thinking there is some inside trading going on... The merchant API announcement must be imminent.