Quote from: creativex on September 26, 2013, 06:44:04 PM

Quote from: pankkake on September 26, 2013, 06:34:52 PM

Quote from: creativex on September 26, 2013, 06:21:56 PM

Asset issuers on bitfunder can unilaterally alter their own contracts.

This is common knowledge and my primary reason for never having registered for an account on bf. To me this says "this exchange is not to be taken seriously"

CX, please recall that in the situation with AMC/VMC's IPO Ukyo enforced the initial terms, forcing all shares to be sold at 0.0005 and greatly angering Ken:

Quote

Quote from: Ukyo on May 31, 2013, 04:31:08 PM
Quote from: kslaughter on May 31, 2013, 04:22:36 PM
Quote from: dhenson on May 31, 2013, 03:54:59 PM
Quote from: kslaughter on May 31, 2013, 03:37:16 PM
The description does not say that, and it controls.

Can someone translate?

Sorry for the legal ease. The description says that AMC may post the shares at no less that .0005

I think the issue is that the vast number of shares you are trying to sell, in comparison to the market, is huge.
It seems to me, that people would like you to set an official amount of shares at prices. This is why the tier method has worked in the past.

Perhaps you should say up to X shares will be Y price, and then Z shares will be A price, etc.. and use reasonable numbers.
I am sure the shareholder would much rather have that.

My two cents.

I think there was plenty of demand at the .0008 range and the volume was good. Now by your God action you have caused my
investor to be mad at me. I had no choice except to reduce the price to .0005 when I all the right per the description to sell
shares at no less that .0005. You have hurt my reputation my you blantant action based on what in your "God" mind was the
right price. The market was setting the price. I tried to sell shares at .0009, but the market did not agree, so I reduced my
price to .0008 and the market started buy again. I have went my the letter of the description which is posted on bitfunder.com

https://bitcointalk.org/index.php?topic=158806.msg2334871#msg2334871

Bitfunder is more flexible about changing contracts, which is a good thing because many assets undergo evolution for completely legitimate reasons (EG MiningCO's 1:10 split).

Ukyo is pretty strict about looking out for the investors, so that flexibility is limited to changes which are to their benefit.

Burnside OTOH, while strict and inflexible about changing contracts, allows any scam with enough votes to be listed (GARDEN, LABCOIN, CRYPTX) and doesn't really do much when they start screwing over investors.

I trust Ukyo even more than I trust you CX (no offense intended, both of you are controlling some of my BTC Cool

) and as you say, "trust is all that matters in this space."