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.
It's far fetched to claim this is a ponzi. All they say is "We have 7000 Bitcoin now and we don't want everything converted to fiat", because they want to keep some coins for liquidity reasons and to avoid fiat to Bitcoin exchanges afterwards. I don't see any problem with that, but if you still do, please elaborate.
As I understood it, they were hoping the IPO to bring in at least 4000BTC. The kind of mania we saw was not a sure thing. I interpret this to mean that 4000BTC is the absolute minimum they need, and anything above that could legitimately be held for later use. On the other hand I'm very interested in hearing more details about this.
They should have alot of extra to work with since the figure they gave was if bitcoin was priced around $90.