Post
Topic
Board Securities
Re: Problem with BOURSE forced buyback on Cryptostocks
by
rini17
on 25/01/2014, 14:09:07 UTC
Shame how this devolved into MP trolling, it only suits the BitcoinBourse perpetrator. This BOURSE cryptostocks stuff is only most recent of the string of fail (but more likely, outright scam) that this is. Just a short review:

September 2013: IPO launched by dotcoin and forensick, with early bird share prices of 0.1 BTC, total 30000 shares. I have talked personally to the cofounder (forensick), what made me gain some trust and I did invest in it.
October 2013: BitcoinBourse launched, IPO is still running (onsite) with share prices of 0.15BTC. Shares trading is not possible, will be only after all shares sell. Still over 20k shares unsold.
November 2013: The cofounder (forensick) left the company and told me he has not seen any bitcoins from the IPO and moreover was left with some outstanding debt by Markus Weiler (dotcoin).
December 2013:Announced planned relaunch by Christmas, with finally enabled trading of shares. Relaunch was later postponed. Still over 18k shares unsold to this day. Shareholders can't do anything and Markus explicitly wrote  to me shareholders aren't to receive any information how the IPO proceeds were used.

Whole time, the trade (and thus, dividends) on the exchange has been meager or non-existant. It has many reasons, from the weird SSL certificate, the fact that ID verification is needed, supply/demand on the order book was not seeded so it was often empty, to nonexistent or inappropriate advertising.  I tried to write Markus about this, he was convinced that Adwords campaign is the most he can do. He refused to understand that people coming to some random site via adwords click will not want to do ID verification. That won't stop him from claiming in the newsletters he has 500 or however much users. Also, instead of devoting the time to the project, he launched another side project, CryptoBourse, and started and stopped selling shares of both bourses on Cryptostocks.

If anyone considers to take steps against BitcoinSARL and its "CEO" Markus Weiler, I can provide assistance. I have got some background information that issuance of such unregistered "shares" may be frowned upon by French regulator. But most likely I'll never see my bitcoins again.