15 June 2015 / Verification SR Comments

Know your limit, invest within it

Paywall / Subscribers
The Globe and Mail
Rob Carrick Published January 26, 2018 For Subscribers
Surging investor confidence in early 2018 is starting to look like reckless enthusiasm.
Investors have lately shown a willingness to take on risk in search of home-run returns, and the investment industry is serving up products to capitalize.
The stock markets are not the problem, particularly the Canadian market. Annualized returns over all periods – from the past 12 months to the past 20 years – are far from excessive and could even be called modest. The U.S. market has been a lot stronger in the past decade, but it's now supported by a growing economy. Remember, it's recessions that usually cause a bear market.
Strong market fundamentals support aggressive investing, but there's a limit. Here are four examples of how these limits are being tested right now.
Adviser shame
Financial planner Rona Birenbaum has noticed a trend lately of people disparaging advisers on the basis of it being so easy to invest for yourself that paying someone to do it for you is pointless and a waste. "I'm starting to hear client comments like 'my brother thinks I'm an idiot for using an adviser,'" she said. "You're almost afraid to say you pay for financial advice."
You can see this same thinking in a recent exchange on The Globe and Mail's Gen Y Money Facebook page. After someone asked for referrals to a financial adviser, other members of the community tried to convince him to invest on his own.
Dismissing advisers sends a message that investing is easy, which is an attitude that develops when a bull market is in full swing. There are simple ways to invest on your own – the exchange-traded fund portfolio with just four funds I wrote about recently is one example. But the overall investing process involves a lot more than just buying four ETFs.
You have to rebalance a portfolio when the mix of stocks and bonds gets out of sync, resist the temptation to sell at market lows and tamp down your greed in market highs. And then there's the question of whether the results you're getting are sufficient to achieve your financial goals.
DIY investing is a righteous choice, but it's harder than it looks in today's investing climate. There's no shame in paying a reasonable price for help.
The rise in margin debt
Buying on margin means putting down some of your own money to buy stocks and covering the rest of the cost by borrowing from your broker. If the shares go up in price, you make more of a profit than if you just used your own money. Falling share prices would likewise magnify your losses.
The total amount of debt in investment accounts set up for clients to buy on margin was up 8 per cent between the end of 2016 and Nov. 30, 2017. But this number undersells the extent to which investors are embracing margin.
The Investment Industry Regulatory Organization of Canada reports that margin debt soared to $25.6-billion at Nov. 30 from $15.9-billion in June, 2008, which is just before the last bear market began.
Low interest rates explain a lot of this increase, just as they do the rise in mortgage debt and house prices. But rising margin borrowing also signals a growing acceptance of risk.
In the Maclean's list of the 91 most important economic charts to watch this year, analyst Alexander MacDonald of Cowan Asset Management noted that margin debt no longer closely tracks the ups and downs of the S&P/TSX composite index. Since 2013, margin debt has grown steadily despite an up-and-down market.
It's worth noting that in the latter half of 2008, the total amount of margin debt plunged 44 per cent. Margin debt is toxic in fast-falling markets.
ETFs tied to current trends
Marijuana stocks are driving the unprecedented trading volumes that have jammed up websites and phone lines at some online brokerage firms in early 2018. A few exchange-traded fund companies are capitalizing on this and other hot investing trends.
The Horizons Marijuana Life Sciences Index ETF (HMMJ-TSX) has been a big hit for a fund not even a year old, with a one-month gain to midweek of 47 per cent and high trading volumes that one day this month reached a stunning 5.6 million shares. Horizons now plans an encore – the Horizons Junior Marijuana Growers Index ETF, which must still be approved by regulators.
One other ETF provider has filed a preliminary prospectus for a marijuana ETF, while still other firms are readying niche products in cryptocurrencies such as bitcoin and the blockchain technology on which these currencies are based. Preliminary prospectuses have been submitted for such miscellany as the Harvest Blockchain Technologies ETF, Purpose Investments' Bitcoin Trust and the Evolve Bitcoin ETF.
National Bank Financial reports that 72 per cent of ETF flows in 2017 went into traditional index-tracking products, which is a positive trend because these funds tend to be cheapest to own. But the success of HMMJ highlights the strong potential for lucrative niche ETFs as well. The management expense ratio for this ETF is 0.89 per cent, compared with 0.06 per cent for a cheap Canadian equity ETF.
The "must buy stocks" mindset
The growing thirst for stocks can most clearly be seen in the unprecedented levels of trading done by individuals through online brokerage firms. Basically, investors have broken their brokers' websites by logging on in swarms to trade stocks and see how their accounts are performing.
Brokers were unprepared for this onslaught, which is a fail on their part. But let's understand that the level of trading people are doing today is not normal. It's a speculative surge triggered by a few hot sectors.
A quieter but no less noteworthy move into stocks is being made by mutual fund investors. The Investment Funds Institute of Canada reports net sales of $7-billion in equity funds last year, compared with $6-billion in net redemptions in 2016. More speculative specialty funds generated net sales of close to $2.6-billion, compared with $36.7-million in redemption in 2016.
Mutual funds are typically sold by advisers, a point that raises questions about the advice industry's claim to deliver value by tempering client urges to get aggressive after stock markets rise and to lose heart after declines.
This isn't any kind of stock market forecast, but it does seem late in the game for investors – DIY or advised – to recast themselves as aggressive stock jocks.
Follow Rob Carrick on Twitter @rcarrick
https://www.theglobeandmail.com/globe-investoinside-the-market/know-your-limit-invest-within-it/article37751748/
submitted by SirEbrally to weedstocks [link] [comments]

‘Initial Coin Offering: an Inaccurate Term with an Imperfect Regulator’ (some speech given at the first Computational Law & Blockchain Festival – Singapore Node on 17 March 2018 (#clbfest2018))

tl;dr – A speech given at #clbfest2018 on what initial coin offerings are, why governments all over the world eye them curiously, and how governments regulate them – if they regulate them. Also, on why brick and mortar governments regulate something so digital.
I practise cyberlaw, as I like to call it. Although this is derived from the term cyberspace, which seems to be a bit vintage. It shouldn’t be, if you ask me.
I’m here to talk about initial coin offerings, or ICOs. I shall try to do so, and then some.
To be honest, I’m not a fan of initial coin offering as a term. Neither is the MAS, the Monetary Authority of Singapore, which doesn’t call them that. The MAS calls them digital token offerings, which is so much better.
Here’s why.
Initial Public Offerings
Initial coin offering resembles the traditional term initial public offering. An initial public offering is the first time shares of a private company are offered to the public. Think of listings on the stock exchange.
Owning listed stock means you own a part of the company. You’re a bit of an entrepreneur.
But its modern-day meaning doesn’t lie so much in making us company co-owners. It lies in the monetary value of the stock which, after the listing, is tradable on the financial market.
The same applies to other funky things you can find on the financial market. Like debentures, units in business trusts or their derivatives, or to collective investment schemes. Whatever they are. Let’s not even go there. Suffice it to say they’re all rights of one party against another party or even against the general public.
But their modern-day value doesn’t lie so much in owning these rights. It lies in their tradeability as financial assets.
Stocks and debentures, business trust units or derivatives – they’re all investment objects. Also known as securities.
IPO Regulation
And because of that governments all over the world have said: wait a minute, this is an area with huge information imbalances where, at any given stage, one party – say, the company directors who issue the rights – may know so much more than the rest – say, the potential investors. If we let this happen, those who know more may exploit their information advantage. Hugely undesirable from an economic point of view.
We must make sure, the governments said, those who know more will disclose certain information beforehand so everyone can make an informed decision. Hugely desirable, economically speaking.
And so the governments regulated the initial offering of securities to the public. Among other things they made it a duty to disclose a variety of details to potential buyers. This regulation was done by way of law. Because rule of law.
Initial Coin Token Offerings
Enter Mastercoin which, arguably, held the first ICO in 2013. They offered cryptocurrency, or coin. Ethereum and others followed. They offered coin, too.
Later offerings in the young history of ICOs were not for cryptocurrency, but for other rights. For example, as part of a crowdsale, the right to participate with privileges in an online game to be developed with the money collected.
The right to be privileged in an online game isn’t coin. In the world of information technology, the right to perform an operation is represented by a token. So when someone offers a right, she offers a token. This means all cryptocurrency are tokens, but not all tokens are cryptocurrency.
That’s why it’s a bit of a misnomer to call any token offering a coin offering. That’s why I prefer the way the MAS calls it: digital token offering.
Needless to say tokens carry value, some more, some less.
Bitcoin: hodl!
But this obscure offering where they promise you the right to meet A-list sport stars face-to-face if only you buy many tokens: maybe less.
In any case, their inherent value makes tokens tradable assets. Negatively speaking, you can lose a lot of money with them.
ITO Regulation
And that’s, of course, why the MAS has got its teeth into tokens in the first place. The MAS and other regulators worldwide. Because all these new creatures, tokens, were offered unregulated. If there was any information imbalance at any stage – yeah, well, what to do.
But pretty much all regulators have found tokens have a value and are tradable. There are just different schools of thought on how to deal with it.
China has banned token trading entirely. South Korea has banned it, too, but on second thought has started reversing this ban. On the other end of the spectrum is Japan. Not only does Japan allow token trading. It has even enacted laws which accept virtual currency as payment. In Japan cryptocurrency is money. The European Union or Singapore are somewhere in the middle.
This means: if you want to offer tokens to the public, whether you call it ICO, ITO or even IPO, then you may want to check out where you offer them. If it’s in China, you won’t be allowed to do it. If you’re in Japan, you will be allowed to do it very much.
In Singapore
If you’re in Singapore, it depends on the tokens you want to offer. The MAS’ view on it is still pretty new, they’ve only published it last November. They don’t say it like that, but basically the MAS has taken a look at all the tokens out there. Then it has categorised them in three groups.
Cryptocurrency
First category. On tokens which are cryptocurrency the MAS has found: their value may rise or fall. This may attract those who treat them as an investment object. Just like some people invest in traditional currency for the same reason. But just like any traditional currency, the main purpose of cryptocurrency is to be a medium of exchange. A payment method.
The only currency we regulate as a payment method is the Singapore dollar. We do not regulate other currency as such.
Of course, if anyone uses cryptocurrency fraudulently, our general rules shall apply, including our criminal law. And let’s never forget our rules against money laundering and terrorism financing.
Utility Tokens
Second category. On this kind of token the MAS has found: their main purpose seems to be that of an entry ticket to something. They’re also called utility tokens. Yes, this may attract those who buy these tokens because they hope to sell them on with a profit. Like the guy who buys a ticket to the concert of a famous singer only to sell it on right before the show. But their main function is not to be a tradable asset.
Our rules against conning others or against money laundering and terrorism financing notwithstanding, but when a token represents the right to participate in an online game, this is nothing we regulate.
Capital Market Products
Third category, capital market products. On this third category of tokens the MAS has found: the main purpose of these tokens seems to be that of an investment. Granted, they may make their buyer a co-owner or creditor of a company. But ownership in a company or being in some other relationship with a company is really not why you buy these tokens. Rather, you buy them with a reasonable expectation of profit based significantly on the efforts of the entrepreneurs or managers who run the company.
This is just like traditional securities. Tokens in this category are securities.
We regulate securities.
Thus, if you’re in Singapore, you’re allowed to offer your tokens licence-free if your token offering is really an ICO. That is to say an offering for cryptocurrency. Or if your token is a utility token. But if the tokens you want to offer are a capital market product, then that’s regulated. Then you may have to comply with the highest standards of disclosure.
The Prospectus Requirement
This means your offer may have to be made in or be accompanied by a prospectus. This is a formal document which you will have to prepare and lodge and register with the MAS. It’s full of compulsory statements, and believe me, the average token whitepaper you see out there doesn’t cut it.
There are exemptions from the prospectus requirements. For example for small offers of securities worth less than five million Singapore dollars. Or for private placement offers made to no more than 50 persons. Or for offers made to institutional or accredited investors only.
Also, the MAS has the power to exempt a person from having to fulfil some or all prospectus requirements on a case-by-case basis. But this may happen only if the cost of compliance outweighs the need of the public for protection. And if dispensing isn’t prejudicial to the public interest.
In any case, all these exemptions come for a limited period of time or with other conditions, including advertising restrictions.
The Sandbox
For the sake of completeness I’d like to mention the sandbox. I don’t know if you’ve heard of it. The MAS offers a so-called regulatory sandbox for financial services. In the sandbox, legal and regulatory requirements are relaxed for a while. Companies admitted can experiment there.
But the MAS will only admit you to the sandbox to experiment with new or emerging technology, or with existing technology in a new way, or with a new financial service which addresses a problem or brings benefit.
At the moment there’s no one in the sandbox experimenting with token offerings. But the MAS seems to be keen. It has stated it would consider admitting token offerings, if such fundraising efforts were by companies focused on new technology that will improve the efficiency of capital markets. For example, something that can build a ‘smarter’ initial public offering. Whatever this is.
However, you don’t enter the sandbox easily. You have to apply and you have to be accepted. To be accepted you must demonstrate you’re willing and able to deploy your financial service in Singapore when play time is over. You will have to define test scenarios and expected outcomes and report on them to the MAS. Among other things.
Hence, no one should expect to be admitted to the sandbox just because they do something with token in it.
Questions
Put another way, offering securities, digital or not, is a stiff job, in Singapore or elsewhere. Because of regulatory compliance.
But we know now what kind of token is regulated in the first place and what kind of token isn’t. That’s settled then.
But, you see, I’ve highlighted the situation in Singapore. What about other places?
Yeah, about that. I have a few questions there.
Why Regulate?
First, a quick repeater. Why regulate the offering of securities again?
Okay, trivial. Any textbook on economics has it. Regulation of behaviour exists, mainly, to protect the interests of certain market participants. The offering of securities is regulated to protect worthy potential investors from getting fleeced. The information imbalance thing I’ve mentioned at the beginning. It’s economically undesirable.
Why the State?
Another question. Why regulation of security tokens by the state?
You don’t hear this one so often. That’s probably because, normally, there doesn’t seem to be a reason to ask. I mean, who else, right?
Traditionally, regulation is a service provided by the state to the citizenry. This makes perfect sense in a setting where the state is the first-choice regulator of things in our lives.
But where is there such a setting? And where is there not?
We are many in the confined space on this planet. We live in societies. Due to certain benefits that we see in it many of these societies are constituted as states. As part of our social contracts, we as individuals surrender some of our freedoms to the state. In exchange the state is to protect us. For example by way of regulation.
Where There’s a Limit, There’s a State
But regulation by the state has limits. The state is our provider of regulatory services only within its territory. As soon as we reach the borders, the state meets its limits to regulate.
In the era of globalisation, this happens really often. This is why states have come up with supranational and intergovernmental organisations and policies. Cue Irene, who’s going to speak about the UNCITRAL Model Law on Electronic Transferable Records later. UNCITRAL is the United Nations Commission on International Trade Law. It’s one of these intergovernmental organisations.
However, globalisation still refers to borders in physical space or how to overcome them.
The regulation of security tokens though.
Where There’s No Limit…
Tokens are inherently cyber. Not only that, their main area of application is that limitless, incorporeal space which we’ve created and started to inhabit a while ago: cyberspace.
State territory is physical whereas cyberspace is not. We have started to inhabit cyberspace with the software part of what makes us up. But we have not stopped inhabiting physical space with our physical bodies. We just do both.
There is a fairly distinct border between these two spaces, yet many of us do not realise it well. Perhaps because it runs right through us and we cross it all the time. As a consequence, we tend to obliterate the differences between both physical space and cyberspace.
I daresay states obliterate these differences a lot. For example, they tend to forget where the social contract grants them power and authority and where it doesn’t.
Regulating Remote Areas
Although traditionally they regulate what happens in their territory, states have sought to regulate behaviour in cyberspace, too. But come to think of it what they really do is regulate behaviour in their territory. Because they can’t go beyond that.
In forbidding token trading, China regulates behaviour in China space. In allowing token trading, Japan regulates behaviour in Japan space. And in applying certain brick-and-mortar rules made for traditional securities on security tokens, Singapore regulates behaviour in Singapore space.
Supranational bodies like the European Union may go beyond that and regulate behaviour in European Union space. But that’s because its members are states which allow that.
As of today, there is no cyber state. There’s also no cyber United Nations or cyber European Union. This is why any effect of state regulation on cyberspace is but indirect.
Of course many (perhaps all) laws have, wanted or unwanted, indirect effects. But indirect effects are usually side effects. I daresay the direct effects of law are usually its main effects. But when it comes to regulating behaviour in cyberspace by states, there’s nothing but indirect effect.
As a result, to me the indirect regulation of behaviour in cyberspace by physical-space states smells like a compromise. Like a workaround, until there’s something better. Like a colonial master who insists his home laws shall apply to his colonies far away, as outlandish as the results may be.
Then Who? or What? Why Law?
As we continue to develop tokens, the blockchain technology to register them, or the smart contracts to trade them, maybe we should reflect on who – or what – could be a direct regulator of token offerings in cyberspace?
Who said regulation must be done by way of law anyway, especially by public law? Yes, it’s a great way of regulating in physical space. But in the cyberspace of today, isn’t code the more appropriate way of doing it? If so, we may want to make sure our coders are good regulators. Like we want our lawmakers to be good regulators.
Of course this leads to the greater question of who could be a better regulator of life in cyberspace in general.
Is it anyone’s own business to protect himself? Or as we spend more and more time there, is it better to delegate regulation to some entity in exchange for protection? Some form of cyber social contract?
Perhaps, due to the infinity of cyberspace, there will be no cyber states with limited territory and all that. If so, who else might be our social contract partner? Facebook or Google?
Really?
Or will there be some novel form of cyber state? With some kind of cyber government?
Call me coo-coo, but I don’t think it’s too early to ask. Because, look, with cryptocurrency and digital securities we have money and investment for cyberspace now. And the emergence of money and investment is a token of civilisation.
(First published here.)
[EDIT: grammar mistake]
submitted by Greentica to CryptoCurrency [link] [comments]

FAQs

FAQs - All Frequently Asked Questions Posted and Updated Here
Q: I have lost massive sums holding various cryptocurrencies since leading coins such as Ethereum have fallen -88% peak-to-trough so far in 2018 and it looks as if it will fall further given the overpriced nature of Ethereum. Vitalik Buterin, the creator of Ethereum said himself that the cryptospace is way too overvalued. That said, why do I want my money tied up on your platform for 9 months? What are the advantages? How much risk am I taking?
A: With Hansecoin, multiple investors will be able to own a piece of the capital gain potential and yield of real estate, some land, an apartment, or an entire apartment complex. The asset provides a floor to the price and increases stability versus speculative tokens.
We are building out the world's first tokenisation platform that will be compliant with regulations. The first project Use Case when secured may deliver underlying yields of 7 to 11.4% or higher, potential capital gains, and provide bonuses and access to future project tokens at an attractive discount versus those joining after the Vesting Period. There is a revolutionary future in its application across multiple asset classes. Notably, this tokenisation approach may become a template for asset backed token projects.
With proof of concept at hand and construction started, the project shall be scaled up as several additional hard asset projects are in the queue and the platform can be white labelled. Our platform offers a replacement tool for the transaction-cost-inefficient closed-end fund structures or venture capital transactions while remaining small, solid, compact and in full regulatory compliance.
Reduced Risk: We are immune to the direction of cryptospace. Even if Ethereum were to go to zero, our token would still be valid and contractually binding. In light of the steep losses in Ethereum and other coins, the participant can stop the hemorrhaging by locking in their cryptocurrencies at a fixed rate in euros for the next 9 months while taking comfort in knowing the above benefits apply, ie, yields, capital gains, bonuses, future project access at a discount, etc. Further, the potential participation in prime residential real estate located a brief commute of 15 minutes from the city center in Tallinn, Estonia carries low risk given the history of otherwise equivalent, yet in terms of quality, design and attractiveness, inferior real estate projects launched in the neighbourhood which still sold out ahead of schedule. Indeed, the demographics of families in formation together with Estonia leading the EU in economic growth is a powerful combination contributing to the breakneck speeds of development in Tallinn.
Estonia has continuously the highest average GDP in the EU (if you compare the current members from 1994 to 2018) and thus is the EU’s fastest growing country. Estonia has been billed as the world’s leading digital nation given its pioneer status of its digital ID card program, the spread of free and ultra high speed WiFi across the country, being the pond from where Skype and Pipedrive sprung, and more. Today, its welcoming position on blockchain technologies, equivalent to that of Switzerland, as well as its e-Residency program is well known. e-Residency enables businesses to transact goods and services regardless of geographic location with the digital signature capacity known from the ID card program. Estonia’s regulators are sincerely collaborative, open for discussion, and evidently working with substantial commitment to create a fair system of regulation, monitoring and enforcement of the current legislation. They are comparatively solution driven so as to remain welcoming to the blockchain community. This explains why Estonia has the highest number of ICOs launched per capita and is ranked #5 worldwide.
From the CEO of CoinMetro, Kevin Murcko: “Although I get approached quite often to advise on ICO projects I rarely bite. Most, while they may be great 'back of napkin ideas' they usually lack substance and their teams, while sometimes quite elaborate, lack the drive, hunger, and experience to take a great idea and turn it into a great business. HanseCoin is different. The company focuses on a very specific use case for tokenization, the Asset-Backed Token, and it puts it to the test.
Not only does it provide a hedge against crypto volatility but it puts that money toward the creation of a regulator-approved platform for tokenizing any hard asset.
As a member of the Supervisory Board, I helped design the tokenization structure and I believe there is a revolutionary future in its application across multiple asset classes.
As As CEO of CoinMetro is it my job to ensure that we are constantly on the lookout for ways to gain market share and add value to not only our platform but the whole of the crypto ecosystem ... Essentially we are talking about an extension of the ICOexpress, call it a 'module', one of many in the works.”

Q: How are you compliant? Many ICOs fail to be even minimally compliant.
A: First, this is not a typical ICO but this structure represents the next evolutionary stage in asset financing in the cryptospace. We are one of if not the world’s first actual asset backed token (ABT) ICO backed by real estate. Together with our counsel and our partners from Coin Metro, we have stayed in lock-step with the regulators here in Estonia to ensure that regardless of future regulatory decisions made, due to the versatility of the project structure, it will remain compliant without that adversely affecting the business. Our token remains a utility token as demonstrated by PricewaterhouseCoopers (PwC) as it is neither a security, a debenture, nor a money market instrument. Still, we are prepared to issue a security token in the future should it become a suitable option and make sense to our expansion. Albeit that from our discussion with the relevant authorities it seems unlikely today Estonia may well pass legislation in this regard. Most importantly, leading companies are connected to our platform and its first project: we have Capital Mill, a leading developer and asset manager, as the real estate project manager, Uusmaa Kinnisvarabüro, the oldest and largest brokerage firm in Estonia as the residential sales agent, SWECO Projekt as the engineering company, 1Partner, a leading valuation company, as our appraiser, Telora AS as our supervisor, Studiomark as our architectural firm, and leading Estonian construction firms allowing the project to be built on time and in suitable quality for the residential clients.

Q: Is VPAT compliant? Does VPAT obey regulation? What about the other tokens PPT and VBT?
A: VPAT is an island, disconnected, and not tradable. Is it non-transferrable thus not a security. VPAT is heavily vetted and all VPAT holders are registered via AML/KYC with CoinMetro. Should our Issuing Company decide to issue another token (PPT, etc), that token may become tradeable and subject to regulatory law at that point.
There is an inherent difference and segregation of the VPAT from the potential PPT or VBT tokens. At the end of 9 months, the VPATs are burned, swapped, or extended and only then are PPTs issued. VPAT holders get various bonuses and preferred issuance of PPTs.
The VPAT is a centralised virtual token which results in a receipt issued to the VPAT participants (like a voucher). It is not an Ethereum based ERC distributed token unlike the PPT which may become subject to the legal, technical and regulatory environment.
As always, we will comply with any future legal, technical, and regulatory law set forth.

Q: What are the advantages of your platform?
A: Our platform offers a replacement tool for a variety of transaction cost inefficient transaction structures. The unwieldy closed-end funds of yesteryear simply front load developments with heavy hand costs for management and distribution. They typically start at around 10 million euros. Friends & family and crowd funding asset capital raises are typically limited to 1.5 – to at best 2 ¼ million euros. Our platform enables a far more efficient and less costly way for anyone who wishes to tokenise a project and raise capital between 1.5 and 10 million euros for their hard asset project, including but not limited to real estate. Blockchain simplifies and facilitates transactions by removing redundant layers.

Q: Future plans to expand?
A: An asset backed tokenisation does not end with standard real estate. This can also be done with other associated hard assets such as factories which include identifiable, traceable and productive machinery and equipment. Indeed, the founders and their partners are themselves invested in industrial assets, farming and agritech. We believe that such capital intensive segments are ideal candidates for subsequent, larger asset backed tokenisation capital raises when the concept with its technology and documentation is proven.
Eventually, HanseCoin, subject to project success, markets and regulation, may even become an issuing house with an investment advisory license. We will also enable others to white label our product since a number of projects have expressed deep interest. Indeed, as stated in the above article, a number of notable voices in the blockchain space such as Multicoin Capital partner Kyle Samani have said, "Using blockchains, you can securitize any asset for 1/100th the cost.” According to Prof. Stephen McKeon of the University of Oregon, "We will undoubtedly see tokenized real estate securities in 2018." An analyst at Apex Token Fund went on to explain, "A new level of liquidity is created when tokenizing traditional assets. This liquidity makes it faster and easier to rebalance a portfolio as the market changes."

Q: Please explain unpaid taxes to the Estonian government as raised here: https://www.reddit.com/CoinMetro/comments/9lyjie/comment/e7g8ws6
A: First, Tiskre Residentsid paid its October land taxes. The company had EUR 3,407.31 land tax to pay which EMTA demands on Oct 1, and we had scheduled to pay them alongside TSD declaration by Oct 10. Notably, we paid it today ahead of time. There is no tax debt and we would expect this to be reflected with the usual delay at sources such as ‘Inforegister’.
Second, Reval Grundwert is a family venture which arranges services to group entities including concept and implementation design, engineering and supervision, planning, family investment. A previous accountant miscalculated and misrepresented two smaller tax filings for which she taken to account and court. The restatement and reconciliation is underway with EMTA.

Q: How do you securitize the asset? Is it asset backed at the beginning?
A: The VPAT token is issued and provides a receipt as noted in the info memo. Funds are employed for the project platform infrastructure/software development and to secure the use case. The owners contribute the land into the asset company at a EUR 459,810 or a 15.4% discount to appraised market value to effectively sponsor the platform development for the Use Case even ahead of the full raise and the potential PPT issuance. The externally appraised value only reflects a sale as is: no potential, no expected value increases, it is considered conservative. Initially, the Issuer provides a deposit to the Asset Company owners in lieu of the irrevocable undertaking to, in the future, enter into the contracts. The deposit in this instance covers 90% of the fixed asset price. All-in the relevant discount to fair market value is thus 23.8% which should be considered a substantial buffer.
From the closing of the hard floor raise through the VPAT, the Issuer by securing itself with the future documentation in escrow, irrevocable undertakings locked in, and a pledge over the asset company's shares, is collateralised throughout its infrastructure development phase. Even the VPAT is an asset backed token.
Note, in the unlikely event that the tokenisation were to fail with no regulatorily compliant tokenisation at hand or the Issuer to fail in its development, the Issuer would accelerate the share pledge against the Asset Company. The asset could be sold and even a fire sale should suffice to cover the Issuer's relevant risk exposure, a restructuring, rescission, or new development in light of the aformentioned large discount.
In case of questions please do not hesitate to ask.

Q: How long do actual building developments take? [USE CASE]
A: In a simplified form and besides weather conditions etc., individual buildings and their build out time depend on the building types of which there are 2 in sector 1 (one apartment, one row house), another one in sector 2 (simpler row houses) and again two types in sector 3 (apartment buildings) plus a kindergarten on the plot between 2 and 3. Some of them such as in sector 1 individually take between 6 and 7 months to build core and shell, and subject to the client package requirements (three pre-defined), the interior furnishing and fittings takes between 1 and 1.5 months. The row houses in sector 2 can be erected within 5-6 months, then interiors and the furnishing as above plus landscaping (seasonal). The affordable housing in sector 3 could be built in the same time frame for the simpler apartment buildings and about 11 months for a grouping of three which are best erected as an ensemble.
A time schedule has been defined by the accredited, experienced external project management firm with owners, engineers, architects, interior architects and reputable construction companies which shows the targeted build out rhythm with overlapping and parallel build-outs. You can find this information in the project model section p.30 onwards. If you have specific questions do not hesitate to contact us and we shall be glad to go through this in applicable detail with you.
If you look at the plots and the drone videos listed for the asset company you can see that infrastructure (road, electricity, gas, water, sewage and street lighting) has been built out already alongside sector 3 and 2. Key information and extensive descriptions are also at hand in the info memo.

Q: Are all incoming ETH converted to EUR immediately?
A: Yes, though subject to market conditions. For example, the time it took to get sufficient confirmations was considerably longer in December 2017 when the crypto market was spiking. Until our minimum target of 2.281671m EUR is received, the deposit required to secure the projects initial use case, all incoming ETH is converted to EUR. Once this amount is surpassed, Hansecoin reserves the right to hold qualities of ETH as it sees fit based in its internal risk management policies.

Q: What happens if the soft cap for your asset raise is not met?
A: I presume you are referring to the hard floor of EUR 3.275 M as a fall-back rather than the soft or target cap. Were that hard floor fail to be reached, the software and platform infrastructure development would have to be carried on by HanseCoin preferably with its community in parallel to progressing with the road map, however, after an extension window of e.g. another 10, 15 or even 30 days were to run out before reaching the hard floor, and if no restructuring of the agreements with the asset owners could be agreed upon (deposit levels, timing), the development would have to carry on without securing the use case. The latter would remain an obligation of the owners to develop without HanseCoin. In turn, in such an unlikely event, HanseCoin would have to secure another Use Case for which it has two more assets at hand in the same attractive area, one in a comparable development stage and one at an earlier stage. Both would allow for collateralisation and lower deposit levels so that a replacement would be a suitable option. As stated in the info memo if less (as in not enough to entertain any of the other options) is raised until a future PPT issuance on the basis of the Hansecoin platform, the VPAT may have to be rescinded.
Notably, the aforementioned time frame and cascade of options should, from our perspective, allow HanseCoin sufficient capacity to attain sufficient commitment from VPAT partners and progress with the Asset Company on mutually agreeable terms.

Q: What if you can't get approved to go on with the development, or when the approval is getting delayed an unreasonable (>1y?) amount of time?
A: The risk of development of the tokenisation to become regulatorily compliant is mitigated as follows: HanseCoin will file alongside its efforts to create the PPTs, its application to attain an investment firm license in Estonia allowing it to act as fund manager. This puts it on the safe side if considerations of certain tokens as securities were to become effective. The board and supervisory board of HanseCoin assisted by counsel and auditors will take all necessary steps and employ their professional experience to meet the requirements and become licensed in the defined regulatory process. As indicated in the roadmap, CoinMetro as an exchange requires substantially more comprehensive licensing for a variety of their additional services to be rendered in the future and is seeking theirs with a view to having them in place by end of Q2 2019.
If the technical development of the tokenisation were to be delayed beyond the date of regulatory compliance, HanseCoin with the VPAT has the option to seek an extension to complete whatever technical matters would have to be resolved, albeit that the economic interest at hand should mitigate that. HanseCoin is keen to issue, list, and expand their tokenisation platform approach to a wide audience of potential participants and process a variety of underlying hard assets, as only then it is successful. The interest of HanseCoin's founders and team are aligned with the VPAT holders. We will push the development with determination and daily grind. As such we believe that a delay as you indicated beyond a month or even three months over the Vesting Period whilst technically possible is highly unlikely.

Q: What can HanseCoin offer me that I already do not have access to? I can already directly invest in property or buy equity in residental property via crowdfunding websites etc. What I cannot do as a U.K. citizen is easily invest in overseas property, does HanseCoin fix that problem? In addition will HanseCoin give people in emerging markets easy access to say, European and American property? What kind of restrictions might I face if , as a U.K. citizen, I wanted to buy an ABT for a U.S. property?
A: You can own a piece of real estate in any jurisdiction via our platform, ie, fractional ownership. As we onboard new projects, some will be European. The US comes with certain restrictions that may make onboarding US based projects an issue. At this time, the projects of interest are non-US. We will be sure we are compliant with any projects we approve.
Re crowd funding, on our home page at Hansecoin.com, scroll down and read:
Let’s talk about The Gap.

Q: Can I own Hansecoin if I am a US resident?
A: As referred to in the disclaimers of the info memo and the webpage, HanseCoin with its ongoing private sale and the upcoming public sale in principle is currently not offered to participants who are U.S. residents as regulation so implies and we are not offering securities at this time. Without providing legal advice, a private pre-sale may e.g. allow up to 35 non-accredited investors to participate under certain limitations and exemptions under rule 506 (b), however it may have little bearing on us as the private (pre-)sale of Hansecoin VPAT's would likely be considered a form of general solicitation in the U.S. Thus, in consideration of rule 506 (c) only accredited investors, i.e. those who can verify that they are, may have a path to participate in the private (pre-) sale. May we suggest to consider this with counsel and message us directly so that we can review the matter, in case you are an interested accredited investor. We obviously value your interest and shall be glad to continue the dialogue. It is not unlikely with upcoming regulation in Estonia and the EU as well as HanseCoin progressing to become a regulated investment firm in the near future that future issues including a potential mastercoin could be offered also in the U.S. We certainly would be glad if market rules were to allow truly global coverage.
NEW FAQS FOR RON TO POST ON WEBSITE:

Q: Did I understand correctly, that HanseCoin is a overarching platform for more asset backed token projects? That token PPT token itself is not limited to the current real estate (RE) you are developing? If so, what happens if let's say, the current RE is finished and you start another project, will there then the same process as now, but with a PPT2?
A: HanseCoin is an overarching platform and not limited to one project, albeit that the first project contributed at a significant discount to the platform to support its launch carries itself and the platform build-out. HanseCoin's goal is to efficiently onboard a variety of projects which fit the 'Gap' range for development capital, i.e. small/mid cap project financings for hard assets. We have three projects in the short term pipeline which shall be launched in stages over the next months. The structuring employed in the initial project can, as per current review be rolled out in more than a dozen, potentially more jurisdictions of the current EU-27. Variations of the structure used by HanseCoin render it sufficiently resilient to over time include more hard assets including factory machinery and equipment as well as segments such as rolling stock. However, we start with something small, solid and compact in real estate development where platform and participants in its onboarded project(s) can capitalise on sufficient potential to reap liquidity premiums and reduce transaction cost through tokenisation.

Q: Can I draw a similarity to Coin Metro’s (CM's) ICO express here: Both HanseCoin and ICO Express to onboard external projects? Now you guys lead the real estate (RE) development yourself, but maybe the next project is developed by an external team but uses your platform for tokenization?
A: I would say that we will work closely with CM's on their ICO Express, as there is no need to reinvent the wheel and we believe that they are in the process of setting up an excellent platform. Technically, I would consider us the Asset Financing Module associated with/connected to their platform. Given our understanding of RE in specific and asset financing in general the intention is to process a series of projects and develop the capacity of HanseCoin to assess, validate, wherever needed structure and adapt/improve underlying projects with strong project financing parties (project managers, engineers, architects, banks, brokers, supervisors, construction companies) etc. - we facilitate the RE development or third party projects employing HanseCoin as the project tokenisation platform.
In other asset finance segments, such as factory and machinery, the industries we can work with are widely varied, as Chris just stated, this can be biotech as well as manufacturing, the key is the underlying asset.
For retail solutions the logistics solutions connecting e-commerce and highstreet require substantial investments in hardware, data processing capacity and software. Whilst the line there blurs between pure hard assets and its steering/process technology, the physically distributed logistics aspect is intriguing and we believe we can in the future benefit from tokenisation.

Q: I'm interested in finding out more re contributing to the private sale (amount of funds being raised, minimum contribution size, etc).
A: Pursuant to ongoing discussions with a variety of interested parties including family offices across Germany, Austria and Scandinavia committing to certain amounts we have created a sliding incentive scale for those entering the Private Sale:
During the current phase up till the hard floor for the platform build-out we offer small, yet attractive discounts to early bird participants, whereas larger ticket sizes obtain higher discounts. Parties committing participations of EUR 50,000k receive a discount (as a token amount bonus) of 2.25%, EUR 100,000 equates 2.5% discount/bonus, EUR 200,000 results in 3% discount/bonus and tickets of EUR 500 k and above receive a 4% discount/ bonus.
For those followers here on Telegram the ticket sizes can be amended but discounts/bonus tokens of 1% kick in starting at EUR 10,000 (equivalent in ETH).
For the sake of good order, recently we have done one brief flash sale to reward our hardcore followers, tech contributors and early birds at a significant one time only 5% discount/bonus. We do not envisage it to be repeated.
As the token vesting period ends after latest 9 months and a tradable token is then issued even the lowest rung of discounts is slightly better than many peer products and approaches, certainly better than parking it in money market products. For small to medium size participants, generally, parking liquidity in attractive vehicles with underlying real estate and hard assets in Europe is not such a bad idea at this time. The tokens are available at short notice.
If this is of interest to you please advise which volumes in the above brackets you wish to pursue and we shall open the Private Sale to you.

Q: How does HanseCoin compare to other companies attempting to issue asset backed tokens? Aren’t such tokens securities?
A: Hansecoin has a unique approach in that it has achieved regulatory compliance even with token issuance. Have a look at the Whitepaper. Normally, tokens of this nature will be regulated as securities. So for HanseCoin to stay compliant, we have a regulatorily compliant token (VPAT) for the platform which is already asset backed. It is non-negotiable, non-transferrable, and non-tradeable thus is not a security token. HanseCoin will later issue tokenized securities known as PPTs upon being regulated as an investment firm in lock-step with what EU / Estonian regulators decide.
As noted, Hansecoin is live already. Its original token, the VPAT, is already asset backed and called an ABT. Due to substantial demand from private equity we are in a private sale at the moment. If and when suitable a public sale may be announced.
So, no more weeks of waiting as with so many others. If you are interested to enter into the private sale please register and let us know. [my note: Smartlands has launched their mastercoin which should be a security since it is tradeable but not issuing tokenized securities as of yet.]

Q: How can HanseCoin claim to have first mover advantage compared to, say, Smartlands, when HanseCoin hasn't even finished its capital raise or developed its platform? If my understanding is correct, Smartlands completed their token sale last year and have already developed their core platform
Also, I'm finding the whitepaper diifficult to digest. It’s very wordy. I'm sure the key points could be presented more succinctly.
A: For the sake of good order, Smartlands has placed its token but is not asset backed from the begininng. By the way, it has lost -24.8% from its peak 4 days ago, though through its excellent PR, I believe it is the only coin that has outperformed bitcoin this year, which attests to the power of the asset backed token.
That said, Smartlands does not have any live project. HanseCoin has not made such claims but is the first regulated asset backed token in that it has the underlying asset pledged to it in proportion to the funds raised, and one live project plus three which its shareholders have either secured or control over. The issuance of the HanseCoin PPT token is solely deferred due to and dependent on the current regulation. In order to become independent from that, HanseCoin will file to become a regulated investment adviser in December so that by February it can issue securities and thus tokenised securities no matter what ambiguity may exist then for other token approaches.
In the meantime, those who are holding HanseCoin VPAT tokens whose value is not pegged to any cryptocurrency but to hard assets sidestepped the recent huge drop seen in bitcoin and most all other cryptocurrencies. The average cryptocurrency has now lost over 90% of its value in 2018. Meanwhile, the value of the VPAT is pegged to the euro and the underlying asset.
Besides blockchain related software improvements, the current platform development is predominantly geared to the expansion into 17 EU jurisdictions and related systems compatibility, database design, and applicable interfaces, compliance process designs, linkage with exchanges, as well as research and development into future tokenisation components.
As to the whitepaper, based on requirements of the EFSA (the Estonian regulator), PWC Legal as our counsel, auditors, and tax advisers, we have to reflect the matter comprehensively. The summary pages tend to be important whilst the flow charts are there to assist with visuals.
Whilst you may consider it excessive, we have condensed both the tokenisation and the use case significantly. Some of our team have longstanding careers in investment banking, corporate audit, and structured finance. Any offering circular in asset backed bonds, a closed end fund prospectus or an euqity placement memorandum would run into hundreds of pages and a 8x multiple word count.
Our target was to simplify the sourcing, issuance and distribution of asset financing with benefits to participants and developers alike whilst substantially reducing transaction cost to enable and accelerate that. That is the key proposition of blockchain and only our platform is live and doing that. Having a listed token today is secondary.
Here are some bullet points which focus on the key points to our platform:
· First-mover Advantage - HanseCoin is the world's first regulated blockchain platform to tokenise hard assets;
· Technology - Solid Blockchain technology applied properly greatly lowers transaction costs across the board from project inception to completion thus participants reap high yields;
· Demand - Leading developers and sponsors across Europe wish to onboard their projects onto our platform;
· Regulatory Compliant - Regulatory passporting capacity into the majority of EU markets and capacity to go beyond;
· Client Access to Higher Yield - Development projects bring high yields to people who are not classic development investors at a time of historically low interest rates;
· Risk Mitigation - Excellent diversification opportunity to peg capital to the value of the underlying hard assets.
· Ongoing Transaction & Success Fee Generation - The platform generates ongoing transaction fees per project. The more projects and more participants, the higher the profits which are shared between Participants and the platform.
But the way, together with CoinMetro (www.coinmetro.com) and its CEO Kevin Murcko we will at Slush to present their exchange and our platform as the first solid Asset Backed Token for hard assets to listed on CoinMetro.

Q: How do projects such as https://www.meridio.co compete with HanseCoin?
A: Meridio.co offers fractional ownership which, whilst fine as a concept, does not lend itself to fit the tokenised securities approach EU regulators are starting to take (they have MIFID, AIFM, etc. to work with) and the specific segment of project/asset financing where development capital is actually required, the small and mid cap segment in Europe and beyond (we call it 'the gap' of EUR 1.5 to EUR 10 m of equity participations in projects) is not addressed. HanseCoin already owns shovel ready land and its platform is regulated.

Q: A few questions:
1a. Which tokens do private sale participants receive for their contribution? VPAT, PPT or both?
2a. Are VPAT tokens temporary in nature, having no further use once they have been swapped or burned following the completion of the platform development?
3a. What is the main potential benefit to a participant in acquiring VPAT tokens?
4a. Is PPT the participation token for the first project only or for all future projects supported by the platform? (Or something in between?)
5a. What is the HanseCoin master token?
A:
1a. The private sale participants receive VPATs.
2a. The VPAT is the asset backed token which starts the platform and provides exclusive access to (a) the PPTs prior to them becoming tradable as well as (b) the VBTs. All VPATs are burned, swapped, or extended at the end of the vesting period.
3a. The VPAT provides exclusive access to future tokens including the tradeable PPT, VBTs for bonuses, and potential further privileges which the platform may grant to its early sponsors and participants. The VPAT is also the only path to secure discounted PPT token access.
4a. As of today, the PPT covers the initial project use case. Each additional project will see an appropriate amount of PPTs issued to reflect the initial capital requirement of the underlying asset development project at its inception. During the platform development and regulation phase, additional VPATs will be issued in regard to further projects in the pipeline. The first PPT will be known as HanseCoin 8. Each additional project will countdown from 8 thus the second project will be known as HanseCoin 7, and so forth. Upon the first issuance and listing of a PPT, thus subject to further regulation of tokenised securities, it is envisaged to have VPATs only issued for each private sale phase.
5a. A master coin which represents not just one specific project but the value of HanseCoin as a whole company will be issued at some point when project tokens have gained critical mass in terms of projects, countries/markets covered and distribution. It seems likely that the countdown will fit well with this. The valuation will be dictated by the ongoing projects, projects to be on-boarded, and any white-labelling on the HanseCoin platform. We envisage that all original VPAT holders should have privileged access to an attractive bonus for the master coin which shall be accrued through VBTs during the PPT issuance period. These specific VBTs would vest until the issuance of the master coin. This is an exclusive benefit to the initial VPAT participants.

Q: So are VPAT and PPT *categories* of token rather that the actual tokens themselves? In other words, HanseCoin 8 is *a* PPT not *the* PPT? Also, if private sale participants receive VPATs, then why does hansecoin.coinmetro.com offer "HANS" tokens, which Chris tells me refers to "HanseCoin 8" tokens? Shouldn't coinmetro be offering VPAT tokens at this stage, not PPT tokens?
A: VPAT is a virtual token. PPT will be a compliant tokenized security we issue sometime next year, potentially ahead of the projected 9 month vesting period of the VPAT. The PPT will be compliant, in line with regulations as they are formed.
HANS is the ticker for the VPAT. Only the first phase VPAT currently exists that represents the first use case. HanseCoin 8 is the first use case. HanseCoin 7 will be the second use case, ticking down by one each time a new project is launched.
By the way, there is no such thing as a security token even though STO stands for security token offering. But then, many of the terms used in the cryptospace have been bastardized such as the term 'whitepaper'.

Q: I presume the VPAT for the second project will have a different ticker? What is the ticker for the first PPT (HanseCoin 8)?
A: A ticker will be assigned then by the listing exchange and the symbol is not decided, yet, although it seems reasonable to consider a variation of HANS (which is the ticker for the first VPAT) plus an indicator (technically, the ticker can remain as is whilst the sub-category is defined as an index).
submitted by HanseCoin to u/HanseCoin [link] [comments]

Actual, real crypto investments?

We all know, or at least we SHOULD know, that cryptocurrencies are not an investment. Right?
The trouble is, ever since that famous $7 million bitcoin pizza, the crypto world seems to be divided between the early arrival millionaires, the wannabes, and the predators out to scam them.
And there has been a very, very long list of scammers, hasn't there? Many of the names are well known, especially the ones in jail, or heading there.
Trouble is, like a shark in a shoal of fish, they scared many away, especially the get-rich-quick crowd. Its not easy to watch your money evaporate, and the effect on the community as a whole is crippling, as the departing hordes do more damage to the cryptoconomy than the predators ever did.
Over on /asicgroupbuy, we've had our share of disasters. We had one of our own lose over $7k of our money, and then disappear, in shame or guilt. It doesn't really matter which. We were into GAW's scam, though we got out with a profit. We were gobbled up by Moolah, and most recently by Chris's LTCgear scam. We've reached a point where people are saying there's nothing left to invest in.
While cryptos aren't an investment, there are investments in the cryptosphere. Mining being an obvious one... but as we all know, the days of the small miner are well and truly over. The rewards are simply not enough to cover capital and operating costs. Don't believe me? Try it yourself, but be prepared to lose most or all of what you put in. And of course so-called 'cloud' mining is for the most part a massive con. Sure, they may pay out short term... After all, I paid for my ex-GAW Gridseeds thanks to profits from the Cointellect scam before they soured. But the numbers just don't stack up when you look hard.
And yet, we all know there IS money being made in mining. Mostly by those huge, anonymous chinese mines we've all seen pictures and videos of. Noisy, hot, dank hellholes hidden in the jungle with thousands of screaming ASICs and a couple of guys running around 24/7 keeping them going and sleeping on the floor.
But this kind of thing costs millions, and is way out of our league.

Or is it?

Yesterday, I was in town, picking up a batch of (physical, non-crypto) coins someone brought back from Sydney for me. And it was a glorious day, perfect for a leisurely stroll.
I had been looking at the Bitcoin Group's IPO, after seeing that our new Prime Minister has kicked it off with an OnMarket Bookbuilds launch. I even linked the referral on my Facebook page, not that I expect anyone to ever use it. I read the Prospectus (Note: Specifically NOT available to US citizens) and was thinking of investing. So I thought "Why not drop by their office and pick up a paper copy? Makes the form easier to fill out if I decide to buy shares."
Well, I gotta say I was impressed. I met much of the team, had a long chat with Sam, their CEO, and had all my hard questions answered. Ended up borrowing their WiFi to transfer a couple grand over for a small stake, and will likely increase it before the offer closes.
In a nutshell, they're going to ramp up their existing mines in China and Iceland to around 13% of the total BTC hashrate. The Chinese mines are located in remote areas, adjacent to hydro power stations... apparently these stations can't sell their electricity onto the grid, so they've done really good deals to supply cheap power. Current ASICs are Antminer S5's, with a mix of S5's and the coming S7's making up the 50,000+ miners to be installed. They should be generating around $35 million a year, and although they won't be paying dividends, by reinvesting profits their market cap should increase nicely. At least that's the plan.
This is a real company, very open and inviting. They even host the Melbourne Bitcoin Meetups and have a museum and facilities for public use. Here's a pic of Martin in the museum room which has examples of every miner ever built... an impressive collection of mostly black boxes. ;)
http://i.imgur.com/YHWZKID.jpg

Note that this is not an invitation to invest in this particular company!

Apart from the fact that that would be illegal in the US (although there ARE ways for americans to buy in via proxies), this post is not about one company. Rather it is about the fact that real-world opportunities DO exist, and we shouldn't let the 'Wolves and Weasels' (to borrow GoodShibe's description of them) destroy our faith in the crypto world.

Nor is this about BTC.

While Bitcoin Mining is the current most profitable way to mine, that won't necessarily hold true indefinitely. We spoke at length about next year's halving, and although our opinion on the likely outcome differed, they do have plans in place either way. Sam told me he holds significant amounts of altcoins, including Doge, and is not averse to them. While the focus is now purely on BTC, that isn't necessarily graven in stone.

Stay Active, and Keep Your Eye On The Ball!

There are most definitely legitimate opportunities in the cryptosphere. Whether its Dogecoin or Bitcoin or something else. Whether its a public float of a mining company, a new exchange, or some other business, some very smart people are doing a lot of hard work creating value out there.
But you'll never hear about it if you don't listen. Just like we all found out about that pizza long after it was too late to get aboard, if you don't pay attention, you will be sitting on the sidelines wishing you had known about the next big thing. Sure, /dogecoin isn't what it used to be. Neither are any of the other crypto subs. So what? That just makes them easier to keep an eye on, doesn't it? Stay subscribed. Look in regularly. And read (and maybe even upvote and comment in occasionally) all those posts that aren't about the good old days, or silly dog/pinapple pics.
Maybe that way, THESE will become 'the good old days'. Think about that. :)
submitted by Fulvio55 to dogecoin [link] [comments]

Poloniex Tutorials - YouTube Bitcoin Q&A: Crossing the chasm of theoretical vs. real need How Bitcoin Futures Will Affect Price Back in a Bitcoin groove, Bcash and GBTC, Bgold, IOTA, ICO fans can't wait CROWD1

site:example.com find submissions from "example.com" url:text search for "text" in url selftext:text search for "text" in self post contents self:yes (or self:no) include (or exclude) self posts nsfw:yes (or nsfw:no) include (or exclude) results marked as NSFW. e.g. subreddit:aww site:imgur.com dog. see the search faq for details. Bitcoin Group Ltd, Hash Power to the Final Hour 2 IMPORTANT NOTICES The Offer This Prospectus is issued by Bitcoin Group Limited ACN 601 628 497 (Bitcoin Group). The Offer contained in this Prospectus constitutes an invitation to apply for fully paid ordinary shares (New Shares) in the Bitcoin Group. This Prospectus has been Bitcoin Group. This Prospectus has been issued for the purposes of Part 6D of the Corporations Act 2001 (Cth) ... information is an example of forward looking statements. These forward looking statements speak only as of the date of this Prospectus and Bitcoin Group does not undertake to publicly update or revise any forward looking statement. Forward looking statements involve unknown risks ... ASIC issues stop order on pre-prospectus publications by Bitcoin Group Limited * 6 Key Takeaways from ASIC’s Review of IPO Marketing * Related international articles Even though this may be surprising for many parties concerned, for example, a proprietary trading business requiring a license according to Section 1(1a) no. 4 of the German Banking Act is already operated by someone who advertises externally (for example, on Internet forums or the like) that he regularly purchases or sells Bitcoins. The same normally applies to mining pools.

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Poloniex Tutorials - YouTube

Bitcoin is back in its $4600 groove. It's as if China does not not exist :). An example of ICO fans wanting profits NOW while quiet Bitcoin fans strategically plan for long term winnings. An Iota ... In this video I explain how the price of a bitcoin is determined, and I show examples of how that price fluctuates across different markets and exchanges. Featuring content and the price of ... Bitcoin la Mejor Inversión.com Recommended for you. 44:39. Zoom Meeting: How To Use (with example of a Breakout Group) - Duration: 33:12. George Kao Recommended for you. 33:12. CROWD1 CONVERTIR ... Bitcoin futures launch tomorrow (Dec. 10) on CBOE and on December 18th for CME Group. Many people speculate that the cause for Bitcoin's run-up recently is over anticipation for these Bitcoin futures. How to SHORT or LONG Bitcoin with Leverage ... Proper Way to Use Stop Limit Order (Live Ripple Example) - Duration: 11:17. Satoshi Scope 85,407 views. 11:17. 24 videos Play all Binance Guides ...

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