Q: How do you plan to convert 7000 Bitcoin into fiat? No need for full disclosure, but this question is critical.
A: ... I do believe there is still some discussion around if ALL 7k should be sold ASAP or if a portion should be held for dividend payments etc. ...
Please establish and communicate a policy around this ASAP. I do NOT like to see investor funds being used for dividend payments, the money is there to grow your business, not to placate the shareholders.
I'm dumping my shares. Talks about operating the security as a ponzi scheme should not be taken lightly. This is
exactly the type of publicity we don't need in the BTC security marketplace.
Obviously Labcoin is by no means a Ponzi-Scheme. Labcoin does
NOT intend to pay dividends until the project is profitable. The shares in the IPO has been placed already and Labcoin does
NOT intend to raise more capital. I cannot even see how a company without re-investment incentive or a continuous dilution of share capital could even function as a Ponzi scheme.
I will make sure that Labcoin prioritizes having a developer Q/A and for the Founder Fabrizio to hold an open discussion.
I am sorry if I made it unclear. Holding a small portion of Bitcoin would NOT be to pay dividends out of 'thin air' of course. This would simply be a small buffer to use for dividends if say Fiat payments are made for bulk chips or miners from customers and BTC is hard to 'come by'. I will pose this question more clearly to the Labcoin team, but rest assured this is NOT a large amount of Bitcoin we are talking about and of course no coin will be held at all if needed to grow the project or pay for Chips/Hardware/Dev etc.