JTBGOOD-migration

OK, guys, you will be happy to hear that this is my last post on this subject! Well, unless pulled back by popular demand! (Yes, a joke). It has been, well....I guess, "unusual" might cover it! Whether CBC is a success or, as many of you predict, a total bomb (and we will have an inkling soon enough as it opens for trading in less than 6 hours), I will not be bothering you about it any more. Thanks to all who read the posts and even those giving me...uh...advice! It has been fun and I appreciated the opportunity to discuss CBC with you all. Hopefully, I can come back some day and post about a comic book or two. And maybe I will see one or two of you on some crypto forums! Thanks again!

Whoa. There are absolutely, unequivocally zero, none, and less guarantees that the currency will have any value whatsoever. Anyone with that thought should stop even thinking about this coin, and for that matter any crypto coin at all. The market will decide the price of the coin -- period. Full stop. --- Now, separately from the market trading of CBC, let's say for the sake of argument that CBC raises $1,000 (to use easy numbers), goes out and buys approximately $1,000 in comic books and the coin just slowly fades downward to a total value of say, one dollar. Well, at that point, in the unlikely event that no one buys those coins and interest has just gone away, then we can just sell the comics, pay out everyone's share of the proceeds and call it a day. The coin will then close up shop and we all move on to Comic Book Coin 2 (kidding! ). But, that is very different from any guarantees of any trading value or day-to day market price of the coin. They are two separate concepts. If there is confusion on that part, then please don't even think about getting any CBC. --- As for "qualifications" to run a "hedge fund", I have quite a bit actually, but that is besides the point, because this is not a hedge fund. There will be no hedging, or leveraging or any other investment strategies employed which are commonly associated with hedge funds. Now, if you mean what qualifications do I have to buy comic books for CBC, I have none, especially as I am not sure what they would be. This has never been done before quite like this for comic books that I am aware of. I am not some famous collector or anything, if that is what you mean. --- And, finally, there is also no guarantee that any comic books will increase in value. Comic books are notoriously finicky and volatile commodities. Both short-term and long-term valuations can depend on many factors in both micro and macro terms. A simple uptick or downtick in the economy, for example can be a factor which alters prices, not to mention what may happen to certain individual comics. Anyway, you all get the idea.

Yes, any price guide is problematic in that way. As I mentioned earlier the opposite happened when I was looking at a bronze age book a while ago (it may have been Batman #251, but I can't recall) where the price guide was way, way below the actual sales prices of the book. So, it works both ways and comics pricing is not perfect as I am sure you are well aware. But, actions speak louder than words and time will tell if the proper actions are taken.

Decide what, exactly? The value of their investment? I always figured when you have an investment fund the actual real world value of your share is always available. A real world amount that can be cashed out. Do you have that? Or is it "You gave me fifty dollars, here's some comics, decide for yourself what they're worth. And no, your assets cannot be liquidated. Thanks." I'll stick with Acorns I don't know what you mean. Decide which service is more accurate. Because, you don't know and I don't know what the next comic exactly will sell for. You must be one of the few people here who don't collect comics books, but the prices can be extremely volatile. The last sale on GPA tells me nothing but one data point. Was that a big auction with many bidders or a light one with few? You may not realize this, but that makes a huge difference. Comic books with few sales are difficult to get pinned down to an exact figure. Using as many data points and services as possible might be the best way to go is all I was saying. You are also unfamiliar with investing I see. That is not how closed-end funds trade, for example. Many "investment funds" in "the real world" as you put it, trade at prices far above and far below the value of the underlying assets. Furthermore, many bond fund numbers are made up out of nearly nothing but guesses -- literally. You stick with your acorns. Look, I appreciate everyone's questions and concerns, but let's not just make things up. For those of you who just don't understand it or plain just hate it, that is fine. The good news is that it is over within hours, so we will see what happens. But, whether it is a success or the bomb that many of you predict, I promise not to be cluttering your board up with posts about Comic Book Coin. Hopefully, I can come back and write about comic books instead!

Hello all -- I'm back. First let me say that I appreciate a few of you who have said kind things about me in the last few pages. Even a small thing like he's wrong, but he seems like he would be good forum member (I'm paraphrasing) was like a fresh cool breeze on a summer's day -- because you guys on this forum have put me through he wringer! --- First let me address the regulation issue one more time and then I am going to drop it. There are coins worth millions of dollars right now, as we speak, that are using this exact structure and have for years. One coin alone is worth nearly $3 million. Those of you familiar with the crypto world know that I am telling the truth. I have just copied that formula using comic books. --- A number of you seem particularly concerned about the tax consequences of a possible dividend that may occur in two years or so. Yes, it would be considered a taxable event as would selling your coins for a profit as would selling any comic books you personally own for a profit. In fact, selling anything for a profit is a taxable event (almost). Of course your individual circumstances, including your tax bracket has to be considered as well. --- Let me step back for one second and reiterate that I didn't come here to promote the coin. Tonic's Comics made an announcement that he was displaying the comic books and that was about it. This was just a day ago or so, with the coin releasing tomorrow. I made most of my announcements (at various places) last week so to give people a heads up early. The reason I bring this up is that there appears to be a misunderstanding. Comic Book Coin is really geared to a large degree toward crypto fans who are also comic book fans. It is purposefully something different and yes, fun. Many of you are lifelong collectors with very valuable comic book collections and it is unfathomable to you that anyone would let someone else collect comics for them. That is completely understandable. It would be wonderful to have some of you, with your knowledge and experience, become part of the CBC community. And I hope some of you will try it out. We sure would love to have you. But, it is also understandable if some of you don't want to participate. ---Please keep in mind that something like this will require time. This type of coin requires action, not talk. CBC will either do what they say they are going to do or they will not. It will become very clear, very early whether or not CBC plans on carrying out their goals. Either comic books will be purchased and displayed or they will not. Well, you get the idea. ---Finally, let me address what may puzzle me the most about your comments. As an aside, and you may find this interesting, I have talked with many people, in person, forums, emails etc over this last week or so and not one -- not one -- has ever asked me about Comics Price Guides accuracy versus GPA. Nor have they expressed their concern over Avengers Annual #7 as you guys have. So, let me see if I can explain myself in a better fashion as it clearly sticks in many people's craw. ---We believe that 9.8 graded Avengers Annual #7 is going to go up in value over the next few years, by quite a bit. However, this book was purchased as more of a gesture than anything. It's a fairly common comic, even in that grade. But, as the coin wasn't out yet, it seemed like a nice comic to get started with. It featured both The Avengers and Thanos, both extremely well known entities thanks to the movies. Plus, it would allow us to use that comic to illustrate to newbies both the grading system and the CGC system of enclosing books. That comic book was added before there were any coins released, so its value should not matter, but more on that in a moment. However, is it CBC's goal to collect relatively new comic books that are also relatively common? No, it is not, but it is a good book that we believe is going to rise in value in that grade. Hopefully, the CBC collection will get progressively rarer and more valuable as time goes on. But, the bottom line is profit. We are going to look for comic books that we think will make CBC money. Their age and rarity will play into that, naturally, but that is not always what goes up in value at any moment in time. So, while that comic book may not reflect the future collection, it does not preclude CBC from choosing similar books, if they have good profit potential. ---I think I have figured out why you guys are so concerned with using Comics Price Guide to "value" comic books rather than GPA. If I get your comments correctly, you think that Comics Price Guide is not just garbage, but that it always overinflates the price. Therefore, if we use them as a gauge on the website, it would mislead new people regarding the value of the collection. So, in your view a say, $10,000 collection as valued by Comics Price Guide would only really be worth say, $8,000 by GPA standards (to use random numbers). I am not sure you are correct, but I could be persuaded. I looked up quite a few (I don't know, 15 or 20 or so) before I even wrote that on the website and I found them more alike than I expected. But again, and for the thousandth time (exaggeration), if Comics Price Guide proves inadequate, then we will switch. Hey, maybe we will just use both and let everyone decide for themselves. --- I hope that answers the bulk of the topics on the forum. I realize that I will not be able to convince some of you on nearly anything regarding the coin, But, for those of you who are interested, thanks for reading along.

No matter what you say, this is not a cryptocurrency - it is an investment fund. You are soliciting investors. You are buying up assets with their money. You are issuing ownership interests in these assets (and plan to buy them back when it makes sense). You intend to pay dividends. You can say it's crypto all you want, but it is indistinguishable from an investment fund except that it's wrapped up in the guise of a cryptocurrency with a really low nominal price per unit. Paying dividends is not illegal. Paying dividends from an illegally organized investment fund, though, is. You can say it's not illegal, but one phone call to the SEC and you're finished. Not that it couldn't be made legal, but that would require you to form an LLC and an L.P., pay up for legal documents, restrict your buyers to qualified investors, etc. You'd probably also want/need a bunch of third-party service providers for legal/compliance/security reasons as well. If what you're doing was actually legal, what would stop people from starting investment partnerships in the guise of a cryptocurrency to avoid all the SEC requirements? You keep making comparisons to actual cryptocurrencies to justify why the detractors here are wrong, but this simply won't be viewed as a cryptocurrency in the eyes of the law. OK, I can see we are getting nowhere, so I will leave you all for a while. But this does not make any sense. Everything you described applies to every coin ever issued. The only difference is that some coins just make promises of future value due to their programming skills or marketing, etc. But, one is essentially buying a share of their services company (to use an investment word again). But, for the sake of your argument, let's say you are correct and that asset-based (well, explicit assets as opposed to implied) coins fall into a different category. Then there are lots and lots of those also (I don't know an exact number). Furthermore, there is no need to call any government agency as they are fully aware of it. You are not the first person to think this angle up. Crypto has been going on for years and these issues have been and are currently hashed out continuously. And no doubt, regulation will be forthcoming at some point (in my view). But, look everyone, this is all old news and old points being made about crypto that I am not going to bandy about. A quick Google search on the topic and you could be reading for weeks. There is nothing different about CBC than many other coins that have been around without incident for years, including asset-based coins. Furthermore, there is far more shenanigans going on with blockchain coins than asset-based coins, so if the government is going to suddenly begin caring about this subject they will assuredly begin where people have lost the most money. But, hey, one never knows what the future will bring regarding regulation, which I have stated repeatedly. For those with an interest take a look. For those of you who are not, I completely understand.

They can call this a coin or a cryptocurrency, but they're soliciting investors, investing in comics, issuing dividends, engaging in buybacks - it's an investment company as far as the SEC is concerned. I hope they have consulted a good securities lawyer because this looks flat-out illegal without complying with all the regulations in place. Oh, and any dividends are absolutely going to be taxable in the eyes of the IRS. this..... oh - and you should make sure to inform the comic shop that will be holding on to the books that they may be at significant risk. If the SEC, FTC, IRS or any of the regulatory agencies take a hard look at this - the store can/will get raided and ANY stock confiscated and potentially sold. Hope you guys formed an LLC as well - or bye bye to those personal assets. Cuz if that one guy from China shows up with 50% of the coins and demands to take half of the books and is refused....... you are now in the fraud playground. Ok, that is ridiculous both factually and regarding the law. Furthermore, those agencies are well aware of crypto and what is going on and have even made some comments about it. But, even if it what you said was remotely true, they sure won't be going after some lowly coin with $5,000 in comic books before all of those coins worth hundreds of millions of dollars (in Bitcoins case, billions) in people's hard earned money. And all they are offering is promises (in most cases). Look, I understand, many of you dislike this idea and only time will discover if you are correct in your assessment. But, to think that the SEC is going to start some huge crackdown on a coin worth $5,000 is just ludicrous and hyperbolic. The crypto world is what it is. If you don't like it, that is understandable and you are not alone. But, for many of us, it is a fun hobby (like comic books are) and it is enjoyable as it is.

They can call this a coin or a cryptocurrency, but they're soliciting investors, investing in comics, issuing dividends, engaging in buybacks - it's an investment company as far as the SEC is concerned. I hope you have consulted a good securities lawyer because this looks flat-out illegal without complying with all the regulations in place. Oh, and any dividends are absolutely going to be taxable in the eyes of the IRS. +1 Interesting concept. Can you please provide details of this investment fund with transferable units (the coins). I would like to see your fund manager licence, past performance, details of how the funds assets are segregated and that you have been in compliance with all rules when establishing this fund. Do you have a prospectus? How do you ensure that the coins are not sold to the public without the full regulatory exposure required? Also - who is the insurance carrier guaranteeing the integrity of the so called "wallet" - you know, those vaporware phantom entities that HACKERS EXPLOIT? (go and read how many bitcoin hacks there have been)..... - OK, I am going to try and answer these concerns all together. You are all asking very legitimate questions or posting very legitimate comments. But, this is all crypto 101 stuff that has been covered for years and years and years. The short answer, if there is such a thing on a topic like this, is the U.S. government has thus far taken a hands-off approach to crypto (unless one is dealing drugs with BTC, that is). In fact, right now, as we speak there is legislation moving forward that specifically bans the government from interfering in crypto. (I am not going to look it up right now, but I believe it was Rand Paul who introduced it). On the other hand, the attorney general of New York has been soliciting comment (or whatever the term is) on the subject and has even done some live chats on the subject. Who knows what's on his mind. In my view, although it may not be a majority view, regulation is inevitable in some form or another. And, to be clear, whatever that regulation turns out to be, CBC will comply with fully. Right now, the crypto community is really dominated by libertarians, and as you might imagine, they are not for any regulation. (Generally speaking, of course). Still, future regulation is a factor everyone needs to consider before buying any crypto currency. Now, I truly understand your comments about this, but they are with the whole world of crypto currency. Will it change to be more reflective of the world of stocks and bonds etc.? Probably, but it is unknown at the moment. And that is really a short answer. There is much, much more that could be mentioned, and I encourage everyone to do that research.

Italic is my add --- That is a bit of an exaggeration as there are over 500 trading right now and nearly 30 of them are valued at over a million dollars. So, that is more than a handful. But, your point is a solid one, in that the crypto market is crazy (and risky!) and some have failed. But, as far as I know, none that are asset-based coins have failed. --- I don't understand your comment regarding the value of coins. You claim I am being deceitful because the comic books will have no bearing on the value. You say: "Any altcoin is based on pure faith in its ability for utilization." That is only partially true. For example, let's say Comic Book Coin opens tomorrow and it raises $5,000. CBC goes out and purchases comic books. Now, let's say somewhere down the road CBC begins to fall and fall and fall. Well, someone is eventually going to buy those coins because they can get (their share) of approximately $5,000 in comic books. If one can buy every single coin for $100, they will. And really if something like that happens, it would probably be best to just sell off the comics at that point, distribute the cash to the coin holders and wrap the coin up. However, I doubt highly that it will happen that way. --- On this point, I am again a bit stumped. There are no second or third parties involved. Yes, it would be nice (and is a goal) to get people to accept the coin directly, but for now it will trade for Ripple, which can be converted to any currency you prefer. --- Dividends is a stock term, but not solely. Crypto has a habit of using investment terms for a lot of their activities. It is most definitely not illegal and furthermore happens every day in the crypto world. I (not CBC) own a few coins in a crypto right now that pays monthly dividends. However, as stated, dividends are a longer term goal and you are right if you are suggesting that future regulation could make dividends more complex. But, they most certainly will not be illegal. --- Ha! I wish was a teenager, but alas, I am light-years from that. I don't want to get into my personal stuff, but I am old, I know a lot about crypto and comics, despite what you might think. But, none of that is important and I will tell you why. In the crypto world (and here too), my background could be identical to Mother Theresa's and I wouldn't be trusted by the community(s) until I put up or shut up. And that is the way it should be. But, I can say no one from the comic book circles will know me as I have been essentially away from it for many years. And even when I was a serious collector (well, what I consider serious), I did not really go to all of the conventions and signings etc. So, as I stated earlier, you guys would (and clearly do) consider me an amateur or casual collector. And from your perspective it is absolutely true. Now, if you ask my circle of friends, they will say I know more about comics than nearly anyone they know, but that doesn't mean anything to you, nor should it. Either I perform for coin holders or I don't. Only time will tell that. But, I am not hiding. Come down and visit your comics at the comic shop and you may very well run into me. But , the internet is a strange place and I certainly don't want people lurking around at my house or anything. Look, CBC is not for everyone and it is not meant to be. It is perfectly understandable if you are not interested. It should be a fun coin, not a coin for one's life savings. We have no control over who buys the coin, of course, but over time, we are hoping for a fun community who loves crypto and comics -- hopefully they combine for a profitable journey!

So what are they worth? You say the coins and the comics are separate, but the coins are backed by the books? If someone in China buys out half of your coins and wants to cash out on day 2, what does he get? Do you sell the book and have 0 books left? Or do you pay him half of the CPG value of your book? What if you buy a book I really want, can I buy enough coins to cash in on this book and do an even trade? Do those coins stay in the market after you sell a book and lose value, or do you buyback coins and keep the currency even? And who really owns the books? You? TonicComics? Thomas Neely? Does everyone with the coins "own" the book? Can I use these on Amazon? eBay? Silkroad? Where can I spend these? If they can't be spent, should we just call them stocks like someone earlier stated? You keep going back to why we should care about crypto-currency, but this is a comic book forum. People here just want to know what comics, are they pressed, and can you flip them better than they can when the time comes. Your last point is very important and I would like to address that first, if I may. Yes, this is a comic book forum and I don't know why CBC has gotten such a reaction. Tonic's Comics just made a mention that they were carrying the books for display, and people started to be a bit...well, active. As you can see, I am not a regular on this forum, but I just popped in to defend him as all he did was make a mention of something occurring at his shop. He does not own CBC and has no say in its direction. He is going to display the comic books. I truly didn't mean to start a commotion, and though I have not spoken to him about this forum yet (as I have been busy), I am sure he didn't either. You are completely correct in saying that many will truly not care about this topic in the least bit. If it is in the wrong section of your forum, then by all means move it to where this sort of topic should be. I apologize if this has caused angst among some of you guys who are regulars. Now, as to your first part, that is not really how it works. If someone from China, to use your example, buys half of the coins, then he is entitled to half of whatever the market values CBC at at the time. The reason I can't answer your question regarding what are the coins worth, is that no one knows the answer to that yet. It is not trading until tomorrow. After that, it will be up to the buyers and sellers to determine the value. As to what you can exchange them for, that is pretty much anything you want. Ripple is convertible into every currency in the world (or close to it). However, many people tend to just buy other cryptos or keep them "stored" in Ripple's currency (XRP) or BTC (Bitcoin). I hope I answered everything there -- thanks!

I have to go for a little while. You guys really keep me on my toes!! I am not ignoring you, I just have to go do other things for the coin for a while. As I have said, CBC is not for everyone and you can all listen to rfoiii, if he is the resident advisor. That is fine and I completely understand your reticence. For those of you who are interested, well thanks first of all and please be sure to check out that website, that some of you find horrible . As I said earlier though, I have gotten tons of compliments on it. Maybe the crypto world wanted something a little different -- who knows, but the reactions are interesting. For those of you who have purchased some of the silver and gold "coins" that acquire as they go, this coin is going to be similar. And once you are a coin holder, come down and visit us (and your comics) anytime and say hello!

Oh, it's you again. Good Morning! I thought you started a new thread with the "real" Comic Book Coin specifically to get people to stop posting here? I think you said "don't feed the trolls" or something to that effect. But, it's...uh...nice to see you back! Just waiting for some sign of intelligence or a realistic business proposal to come from you. Don't mind me. Are you really sure that you would recognize a sign of intelligence?

Younger than 35 (most likely late 20's). Will claim for >15 years, but realistically has not been seriously collecting at all (doesn't own a book worth over $20). State college, job jumper and unhappy with the corporate world not bowing down to his genius by making him CEO in the first 10 months of employment at each job. Ha! that's it -- you got me!

Those are nice!

Oh, it's you again. Good Morning! I thought you started a new thread with the "real" Comic Book Coin specifically to get people to stop posting here? I think you said "don't feed the trolls" or something to that effect. But, it's...uh...nice to see you back!