I'm a shareholder who has watched the business closely since the early beginning, when they first presented their business plans on Let's Talk Bitcoin radio show. What most articles about Neo's problems fail to mention is the outside factors that lead to this delicate situation. Neo's problems started with the IPO or IPVO as they've called it. Their plan was ambitious, to raise a lot of BTC or three separate security exchanges at the same time. BTCT.TO, Havelock and Bitfunder. Out of all these three exchanges, only Havelock is operational at the moment. BTCT.TO was first exchange to shut down due to pressure from US authorities http://www.reddit.com/BitcoinStocks/comments/1iyz6p/btct_exchange_may_close_to_us_customers/ which was followed the next month by Bitfunder shutdown that was also accompanied by a mysterious fund freeze or some other issue that made access to funds impossible for customers and that included Neo & Bee funds raised in the Bitfunder IPO. A hefty chunk of IPO funds were raised on Bitfunder. Danny said in his last statement he covered those lost funds out of his own pocket. https://bitcointalk.org/index.php?topic=289730.msg6030319#msg6030319 Both BTCT.TO and Bitfunder were operated by US citizens from within the US. Danny tried to recover the Bitfunder IPVO funds, he even brought Bitfunder owner to Cyprus in an attempt to find a recovery solution https://bitcointalk.org/index.php?topic=348468.0 Neo's March opening also coincided with the collapse of Mt.Gox, where Danny personally lost BTC which he wanted to use to inject into the company prior to completing an equity sale. Needless to mention price of BTC didn't help with sustaining ongoing EURO fiat expenses like wages and such. What also happened in March, and this part is very important, was a forum assault from the competition MPEx exchange (an exchange mentioned in a recent article regarding Satoshi Dice investigation) who started spreading a lot of disinformation https://bitcointalk.org/index.php?topic=516460.msg5708705#msg5708705 Neo & Bee was targeted by MPEx because they are the main, highest volume listing on Havelock (an exchange they've also targeted a lot using same tools). Neo & Bee also had plans for a regulated security exchange which would have posed bigger threat for MPEx. In addition MPEx was the only BTC security exchange Neo & Bee ignored when they've decided to do the IPO, something which also didn't sit well with MPEx owner. Most of the things MPEx claimed were flat out lies and disinformation, which is something they've constantly done for the past few months using a multitude of accounts to make such campaign more credible. One of Danny's latest posts on the Bitcointalk forum is a reply to such filthy unfounded defamaition https://bitcointalk.org/index.php?topic=516460.msg5709849#msg5709849 MPEx is also the person Danny referred to in his last statement: "My recent silence has been forced due to the actions of two people, one of which has been posting on here thinking they know me and have the inside knowledge about my life which is largely false and they really should obtain some better sources, however those posts had much wider ramifications than they probably assumed they would have, so I hold them partially responsible for what has occurred since their posts" https://bitcointalk.org/index.php?topic=289730.msg6030319#msg6030319 MPEx even went as far as to claim Danny was claiming the identity of a dead kid https://bitcointalk.org/index.php?topic=516460.msg5710145#msg5710145 He was also using multiple accounts to spread disinformation on forum. MPEx main Bitcointalk account was permanently banned following these intense defamation campaign https://bitcointalk.org/index.php?topic=551603.msg6010465#msg6010465 and this is something Bitcointalk libertarian mods rarely do. It came on the heels of a very malicious and targeted defamation campaign using a multitude of accounts. By spreading all these false rumors MPEx did manage to amplify Neo's liquidity issue by making finding a buyer much harder and make both shareholders and employees edgy and ultimately lead to those threats Danny received, which I personally think were very real. There were some articles in the Cypriot press claiming that Danny didn't register complaints with Cypriot police regarding those threats but Danny only claimed he was advised to interrupt contact with all parties involved by "revelant authorities", including the employees who might have been involved in making those threats. He never mentioned going to the Cypriot police for advice. According to what other people said Danny doesn't speak Greek and he most likely contacted either UK police or the UK embassy. According to Danny's words, he planned on returning to Cyprus before those threats were made. In the meantime, back in Cyprus 2-3 individuals that paid Danny 30-40k Euros to buy BTC, a deal which he didn't get to close following the events described above, made official complaints against Danny. (it's possible these very same people made those threats and it's also possible they are ex employees) This lead to an official police registered complaint, apparently turning Danny into person of interest in police investigation and the piece of news that came out in Cyprus Mail which you've also turned into an article recently. It's true that employees were kept in the dark about the liquidity issue Neo faced. This doesn't make Brewster corrupt or crooked. It made sense from his point of view not to cause a panic if alternative funding could have been found. Unfortunately many of the employees gave in to the panic successfully started on forums. If I were to draw a conclusion to this whole unfortunate situation, I'd say the regulators were the ones to mess things up by interfering. Hadn't the regulators closed Bitfunder, Neo & Bee would have still been in business and fully operational today. The liquidity issue wouldn't have brought them down.
05-02-2014: They bought ~5870 BTC (off exchange) which was their largest buy yet.
05-02-2014: Someone went on MPEX and shorted 25,000 PUT contracts with strike @ >$4000/BTC, which is basically a 8 million USD bet that next month the price will be above $4000 (more info)...
Did they run out of sellers and will soon be forced to start buying on exchanges? Are they preparing for the incoming madness or did some dude go mental on MPEX and will soon be in need of a new shirt? I don't know but it looks like something big is coming our way and since I'm a perma bull I decided to front run them (again)... What do you guys think?
The gambling service Satoshi Dice, created byfireduck and then quickly sold to Erik Voorhees in April of 2012, became one of the largest and most notorious gambling services in Bitcoin history. Satoshi Dice, also known as SatoshiDICE has no affiliation with the Bitcoin creator Satoshi Nakamoto. At one point the service became so popular, it could be seen that the large majority of Bitcoin transactions published to the Bitcoin Blockchain were directed at the service.
Rise to Popularity
Although the service was not an original creation of Erik Voorhees, it was his takeover of the project in 2012 and subsequent marketing and development that shepherded it to popularity. To provide proof as to fairness, Satoshi Dice used a system of nonce hashing to determine a winning bet. Each bet transaction was hashed, along with a secret number, and the random resulting hash bytes were used to determine payouts. Satoshi Dice was created with a novel concept of betting to provide an experience of betting that promised fast, simple and fair gambling. A variety of vanity addresses were created with the simple premise of sending to the one marked with the appropriate odds. No other interface was required. Bets were honored more quickly than competing services by accepting bets without confirmations, which was accomplished by using the bet funds as inputs the winning payouts. Chaining the funding of winnings to the placement of the bet meant that a double spend attempt that attempted to claw back a bet payment would then also invalidate the winnings payment. To avoid clawing back losing bet payments, risk analysis on the Blockchain was performed to minimize the cost of losing bet fraud: only bets judged likely to confirm would pay out without a confirmation. The service's popularity attracted heavy criticism of its on-chain mechanics. The use of single Satoshi payments to message losses created large increases to the cost burden of full node operators. The mixing of gambling and settlement on the chain added additional non-pure currency uses for the chain, which is discouraged to make the chain functionality well bounded. The obvious association of the chain with gambling was seen to draw fire from regulators.
In August of 2012 Erik Voorhees listed Satoshi Dice on MPEx as a dividend paying stock. By January of 2013 Satoshi Dice announced they had processed fifteen million dollars in bets and taken five hundred thousand dollars in commissions. The Stock soared to nine million dollars in market value. In May of 2013, Satoshi Dice started to face legal pressure from the US, and blocked U.S. IP addresses from its web interface. Two months later in July of 2013 Erik Voorhees found a buyer of his share of the site and a new operator, settling for one hundred and twenty-six thousand bitcoins, or around twelve million dollars at the time of sale. In 2014 the new operator of the service responded to longstanding calls to reform the service's abuse of the Blockchain by offering off-chain bets. Erik Voorhees's legal troubles with the site did not end with his sale. U.S. investigators stayed on the case and in June of 2014 formally charged Erik Voorhees with an unlawful public share offering on MPEx. Voorhees was forced to buy back the shares and pay more than $50k to settle the case. The new operator of the site was shielded from this scrutiny but in 2014 and 2015 interest slowly waned in the service. Eventually in 2015 Satoshi Dice again offered an investment opportunity to earn profit by providing the house with bankroll funds.
I bought round 30 bitcoins 4 months ago, and with my new found wealth I decided to imitate rich people and start compounding my money. 30 Bitcoins isn't much, but it has become enough to make me seriously consider investment options. Instead of just holding bitcoins and waiting for them to appreciate you can buy equity in bitcoin stocks and bonds and get paid interest in bitcoins! To me, this is a no brainer. You get paid interest on the bitcoins you hold, your stocks have potential for growth, and the bitcoin exchange rate has potential for growth. And you are contributing to a growing bitcoin economy by doing something slightly more productive with your coins (instead of hoarding). Here are some I considered, if you know of any more please post! HavelockInvestments: Have some nice funds. HIM is mining fund, KCIM is a bond. Site is relatively easy to use, transfers are easy and I have not heard of anyone having any trouble with it yet. SDICE is a fund that pays out dividends from S.DICE (satoshi dice stock) on MPEX, currently paying out 30 percent. MPEx: Claims to be the only bitcoin service that has not been hacked. One problem with this exchange is that they require 30BTC to set up an account, and I dont really have that kind of cash to squander. It would be a better idea to buy S.DICE through this exchange since there are no management fees. They have quite a few listings, some with fairly low volume, a lot of them mysterious to me. BTC-TC: Bitcoin Trading Corporation. This one actually looks really interesting. They are marketing their site as a "Virtual Currency" trading platform, most likely to get around some laws regarding registering exchanges and such. They feature options, a ton of stocks, Bonds, and Funds. Similar to Havelock, they also have an SDICE fund.
Why don't call/put options on MPEx.co update very frequently?
Hey, I'm new to MPEx trading, and I have experience trading stock options, so I thought what the hell and made an account on CoinBr.com (an mpex broker). I bought a few 37 calls to expire the last Friday of this month, and in 2 days of watching it, I haven't seen the bid/ask price move hardly at all. In that time frame, Bitcoin has gone up about 70 cents from where I bought it, which isn't huge, but in percentage terms that's pretty good. So why hasn't that option price gone up? Is it just a lack of liquidity on the market? If a stock were to move the equivalent percentage that BTC has in the past few days, the option would go way up. What am I missing here?
About a year ago, I opened accounts with BTCT.co, a company that made exchanging securities for Bitcoins a possibility. However, this was impractical - Bitcoin was extremely volatile, and the price of the security often reflected the price of Bitcoin itself. However, now with Bitcoins relative stability, investment would be viable. Unfortunately, all the old exchanges I knew about are now shut down or inactive. BTCT, Havelock Investments, MPEx, and BitFund. Are there any new security exchanging platforms? Has this died down?
Nachrichten zur MPX BIOCEUTICAL Aktie - Aktuelle TOP-Meldungen - Die wichtigsten MPX BIOCEUTICAL News im Überblick - seriös, schnell und kompetent. MPX BIOCEUTICAL (WKN A2H63S; ISIN: CA5534431021): Aktuelle News und Unternehmensnachrichten. Nachrichten zur MPX INTERNATIONAL Aktie - Aktuelle TOP-Meldungen - Die wichtigsten MPX INTERNATIONAL News im Überblick - seriös, schnell und kompetent. Bitcoin Casino-News; Contact; Blog Archives Are SatoshiDice and MPEx under SEC investigation? Posted on 19th March, 2014. If a recent post by often-controversial bitcoin personality Mircea Popescu is to be believed, the U.S. Securities and Exchange Commission has focused their gaze on well-known bitcoin gambling site SatoshiDice. Popescu posted a series of emails he exchanged with SEC senior ... Bitcoin exchanges all share certain core functionality, but their effectiveness as trading networks can vary greatly as the result of small changes in their design. Here are some key elements to look at when choosing the right exchange.
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