I'm going to go out on a limb here and defend Crypto on the CS front.

Eb0la, while I respect your opinion, as you do this for a living, I'm sure you recognize that IF this takes off, it will take less then a month for it to explode. These services are DESPERATELY needed, and I imagine that there are many many customers who are lying dormant waiting for such an entity. If that is the case you can be sure people will be banging on their door to no end when the time comes that they do open. I'd much rather a extra-support scenario then a another BitInstant-esque fiasco. No? Am I looking at this the wrong way?

Stop the madness

It did. At least to my wine-soaked brain.

I don't think there is anything to gain in investing right now. The IPO is barely moving at the moment. The masses are waiting for confirmation that this a legit venture, and many (much to my disappointment) do not consider Havelock alone to be a good, valid source of confirmation. However, if you TRULY believe in this, investing now does help move the IPO, which could cause a cascading effect on the buy up. (How many are on the sidelines?)

Me? I invested early. Within the first couple hundred shares. Not because I expect a return 'RIGHT NOA' but because I like to think this Bitcoin idea has a chance, and these guys are out on a limb looking for some support that could change everything. I know, I know, foolish and altruistic, right? Someday I'll get these rose-colored glasses off...

Havelock how could we trust you on this?  The valuation is ridiculous.  Do you vouch for the valuation?

@Crypto nothing you've shown me indicates that this is a profit sharing endeavor everything currently points to greedy company overvaluation and risk externalization that will almost certainly result in a loss for the sucker investor.  Why didn't you just come to the community with the real valuation and offer a fixed interest bond?  (Too risky perhaps?) At least then you wouldn't have to dodge the valuation question like Bush dodging shoes.

I hope you can prove me wrong.

Boy look at those shares just flying out the door...../s

I believe you.


Hogwash.  We're talking about immediate risk and future value.  Not just future value.

Who would put up 3mil of a 15mil valuation without seeing anything that comes close to 12mil from the other parties?  Crypto Financial is offering a great idea, a valuable idea, a valuable service.  I want it to succeed.  I even trust you, and them, when you both say that they have the team to pull it off.  But if it's as I suspect and the 3mil is close to 75+% of risked assets, I want more than 20% of the company.  If 3mil was 50% of risked assets (6mil valuation), I'd still need more than 20%.  Unless I was buying a bond.  

Let's forget about the dodgy valuation for now, and look at some other reasons why this offer is just not attractive:

- Overpaying for projected growth.  The cost of each share is overpriced for the first two years of projected earnings IMO, and you have to wait a YEAR before you even start to see it (assuming accurate break even projection).  The obvious conclusion:
- This offer is not competitive in any way.  I believe in supporting crypto currency related ventures, but I can't afford to support them for free.  You know what I'm going to ask, but here it is anyways: Why would I even consider CFIG?  Throw a dart at a list of offerings and you'll hit one with history and profitability.  Not only is it not competitive in any way, any projected ROI or p/e ratio would just be a gamble (longshot imo).  I'd rate the possibility of ROI down at the bottom of the list... just above Kenilworth.  Why?  Because it could take this company 10 years to ever reach $15mil valuation and they're asking for that up front.

You're dodging the questions regarding your valuation, and your IPO isn't competitive at all in the current market.  Your prospectus lists $10mil in assets, but all you've shown us in real assets couldn't possibly add up to more than $100,000.  Where does that $10mil number come from?  

-Is it just the net worth of the individuals involved that could potentially be used for future liquidity?  If so then why aren't they taking the risk and investing in this startup now with their own capital?

-Is it capital that has been raised and dedicated to this project?  Specifically how much capital has been raised for this project (not including the Havelock IPO)?

-Is it a projected future value of the company that you're counting as a current 'asset'?  Really?

Wow, I was really excited about this, but now I'm a bit confused and disheartened. Read:


So every fiat <-->crypto trade that happens on your "Excahnge Platform" through my [hypothetical bitcoin business] gets a fee tacked on by you? Even if I am making the market, not you? What is that fee/commission exactly? Is there a scenario where you would be willing to waiver the fee and instead we give you a lump sum of cash to be agents of your license autonomously? (in that scenario we would set our own fees and do KYC/AML ourselves and send you the details when audited - in this case our customers do not have your debit card or a bank account with you, they simply trust us with the funds). That is a response to this:


Thank you.

I think it's important to note that they are looking to raise 3 million dollars of funds. Meaning that if Bitcoin's price were to spike then they could have a successful IPO much faster than you think, despite not selling all of the shares. (They might be anticipating this)
Thus them saying that the company will still move ahead despite the IPO not being sold out. Also if an established bank is already sponsoring them, it would not be a stretch to value the sponsorship of an already established international bank at 12 mil in such a relevant sector.

If that's their plan, that's SO MUCH WORSE.

I dunno, man. I hate to say it, but does anyone else get the feeling lately that Havelock is becoming more interested in the quantity of funds than the quality?

2 days and only 5% of "Crypto Financial (CFIG)" IPO sold.
Shure, the idea, the documentation published are good. But without having seen a functioning Web site (version 0.1) I am not ready to invest.