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Topic
Board Securities
Re: [IPVO] [Multiple Exchanges] Neo & Bee - The Bitcoin Bank (Cyprus) - LMB Holdings
by
richard_dein
on 16/09/2013, 14:45:43 UTC
Just an opinion.

Bank of Cyprus had a market cap of only two magnitudes above the IPVO price, while having a large market share and dipping into a much larger range of businesses.

The opportunity is the mistrust of the Cypriots against their current banking system, but Bitcoin would sound equally shady to a lot of them. Mass adoption of Bitcoin could also expose Cyprus to external manipulation, so there is a risk that the grand plan would backfire. Moreover, remember Cyprus is a small country with ~1 million people, who are current having trouble spending money - expect much less consumer activity than your "usual" developed country, and note that a large part of this business revolve around consumer services.

Neo & Bee will at best grow just like an average start-up of its kind, probably even slower in its valuation in terms of Bitcoins. Nonetheless this can be seen as a worthwhile venture. If you believe in this startup, you should look away from the Bitcoin share price and focus on how it strengthens the Bitcoin economy. Basically, see it as a donation to help the rest of your Bitcoins rise. Good luck.