Quote from: Germican on November 05, 2014, 02:57:28 PM

Quote from: mooncake on November 05, 2014, 02:41:06 PM

Could you offer some possibilities why the price dropped from the initial offer price of 0.001BTC to 0.00015BTC, a whopping -85%? As an investor, it really pained my heart to see the price of such a good security dropping so much.

The price tanked due to the climate of bitcoin and bitcoin securities. From the very beginning this was a long term investment that you couldn't expect anything for at least a few years. But because bitcoin changed so much (ie new investments, the price dropping or new alts ect) people want to constantly move their bitcoins around to the next big thing. The issue is most investors are amateur investors and couldn't properly assess what they were investing in and are very susceptible to hype. This cause people to sink money in at ipo then try pulling it out but there simply wasn't enough buy support to allow for that. There were 2 million shares released but it was rate rare to ever even see 1000 share buy walls when the price was above 0.0005.

That said I completely agree the value is over 0.001 bitcoins per share as the companies are doing great. Plus the value when bitcoin was invested in these companies for equity was when the buying power of bitcoin was 600+ USD. So by today's standards not even factoring in the growth I'd feel the value of the shares would be closer to 0.002 bitcoins. Because of this I have been buying since ipo consistently.

Now I am quite happy to convert to a registered SHL holding however they have not indicated the qualifications required. Currently they have not indicated if US citizens are able to convert. So I'm hoping they can but won't know until those emails are sent out our Seedcoin clarifies on here.

If they don't allow US citizens to convert I won't be taking that lightly. I am completely unwilling to sell back at a major loss when the shares have much much higher value. I do understand why they are deciding to move it off Havelock and I agree with it I simply do not agree with the value they plan on buying back at. I think a full refund is the only acceptable buy back price but even that I personally wouldn't want to sell back at due to my valuation of the shares.

My only question right now is... Has the Seedcoin lawyer identified any thing that may make holders of 2000+ shares unable to convert to SHL.

I am more concerned that the initial 4 blocks were not subscribed fully by retail Havelock investors like you and me. As a result, the unsubscribed blocks were taken by Seedcoin or Seedcoin-related entities. Since they hold huge quantity of securities, they can dump them at any point in time, and cause a dramatic drop in price. And indeed, when you look at the price chart, you will see several huge dumps, causing a huge drop in price, which did not recover.

If the price can be influenced like that, Seedcoin can certainly manipulate the price for the last 30 days, and the eventual buy-back price.

Seedcoin has yet to comment which IMO, they should.

Regarding the condition to convert Seedcoin units to shares, I hope Seedcoin can consider the request for existing unit holders to buy back the units from Seedcoin at the Seedcoin-determined buy-back price of 0.00045BTC so that the unit holders have an opportunity with the conversion. Yes, they did have an opportunity to buy the units during the consultation window but like that Seedcoin mentioned, it was a consultation with no confirmed decisions made. So now when the decisions had been confirmed, it is fair that existing unit holders with less than 2,000 units should have an option for conversion, through buying back of the shortfall.