Quote from: DeadwoodDan on March 24, 2014, 05:47:15 AM

Quote from: vleroybrown on March 23, 2014, 04:21:14 PM

I have come to find out that if you list on Cryptostocks there is a simple way to set the price of your investment offering permanently by raising an IPO flag indefinitely. Investors should beware of this since once this happens you do not have access to your original funds and are locked into ownership or stocks you may wish to sell. Do not invest money you may need since that's how it is and any company listed can do this anytime. How that this is ok with everybody is beyond me since now I know it is pissing me off since I want to use my money to start my own p2p currency company.

Not sure what you're whining about, this is how bitcoin exchanges work. Caveat emptor, where the emptor is anyone dumb enough to send their pseudoanonymous cryptocurrency in an irreversible transaction to some random guy on the internet, lol!

pretty sure Saul of Tarsus wrote something about this

or maybe that was some homophobic screed

i forget

anyway, bitcoin! do not send it to internet stranger!

In my opinion, vleroybrown is right to be concerned and angered by this 'IPO flag' on Cryptostocks.

As far as I know, Cryptostocks is the only exchange that allows asset issuers to raise and lower an IPO flag whenever and as long as they want (I believe this is a new 'feature' of Cryptostocks). Other exchanges, such as Havelock, have IPOs from time to time when they list a new security, but the IPO is only for a specified period of time, and once it's over, it's over. In other words, on Havelock, an IPO is really an IPO. On Cryptostocks, this "IPO flag" has become a way unscrupulous asset issuers can stop people from being able to sell their shares whenever they want. These issuers are abusing this feature whenever they want in order to lock people into their investments and prevent them from being able to get out of their positions.

As far as I know, Cryptostocks is also the only exchange that allows anyone who pays their listing fee to list an 'asset' there, without requiring them to go through any type of verification. The verification and vetting process that other exchanges perform does not guarantee by any means that an asset will turn out to be a profitable investment, or even that it won't turn out to have been a scam too, but it does weed out a lot of the anonymous asset issuers and the flagrant scams (like the 'FIDOR' asset that was listed on Cryptostocks a while back claiming to be Fidor Bank, but that the real Fidor Bank had never heard of, but which wasn't caught until they'd already scammed people, since Cryptostocks didn't perform any verification when they listed them).