Comic Book Coin is Coming! 0

[Gunnz]

I don't get it...

[01TheDude]

Still got the nose to the old grindstone, eh?

 

Jane, I offered to let George in on the ground

 

floor in plastics and he turned me down cold.

 

 

- Oh, now don't rub it in.

 

- I'm not rubbing it in.

[1koko]

just hope you looked into the legal issues - I would actually REALLY question any comics book store trying to say book a is worth XXX based on CPG.,,,, not even as part of a call for people to invest......

 

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?

 

 

[01TheDude]

[JTBGOOD-migration]

There are hundreds if not thousands of altcoins created, all except a very small handful have failed. Altcoins are not backed by standard or (in this case) non-standard commodities so you are being purposefully deceitful by trying to imply that the coins are in any way related to the comics you will be buying with others money. Any altcoin is based on pure faith in its ability for utilization.

 

I have seen no where in your "business model" how you explain it will be able to be used or accepted by second or third parties. You also cannot pay "dividends" on altcoins as they are not an invest-able stock that can show returns, so this is illegal and I have not even read half this thread yet.

 

You seem to be very young, very young, like late teens young who read about bitcoins on the internet and thought you could do it to with comics books (that you don't know alot about). You can not with this crowd (or any crowd with your website), If I were you I would quietly back away and do some heavy research into Dogecoin which has shown moderate (by altcoin standards) success based on community and usage.

 

I see that you have answered questions, so why not answer this one:

 

Tell us a little bit about yourself

How old are you?

How long have you been collecting comic books?

How long have you had experience with altcoins?

What is your educational/employment background?

 

 

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!

 

[W16227]

just hope you looked into the legal issues - I would actually REALLY question any comics book store trying to say book a is worth XXX based on CPG.,,,, not even as part of a call for people to invest......

 

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)..... -

 

 

[BarryAllen]

There are hundreds if not thousands of altcoins created, all except a very small handful have failed. Altcoins are not backed by standard or (in this case) non-standard commodities so you are being purposefully deceitful by trying to imply that the coins are in any way related to the comics you will be buying with others money. Any altcoin is based on pure faith in its ability for utilization.

 

I have seen no where in your "business model" how you explain it will be able to be used or accepted by second or third parties. You also cannot pay "dividends" on altcoins as they are not an invest-able stock that can show returns, so this is illegal and I have not even read half this thread yet.

 

You seem to be very young, very young, like late teens young who read about bitcoins on the internet and thought you could do it to with comics books (that you don't know alot about). You can not with this crowd (or any crowd with your website), If I were you I would quietly back away and do some heavy research into Dogecoin which has shown moderate (by altcoin standards) success based on community and usage.

 

I see that you have answered questions, so why not answer this one:

 

Tell us a little bit about yourself

How old are you?

How long have you been collecting comic books?

How long have you had experience with altcoins?

What is your educational/employment background?

 

 

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!

 

I thought you were going away?

 

Seriously, that would be for the best.

 

You are a insufficiently_thoughtful_person.

[01TheDude]

1. Design a half arsed graphic of a coin

2. set up a retro website

3. convince some nerds to buy your comic coin

4. profit!

[W16227]

just hope you looked into the legal issues - I would actually REALLY question any comics book store trying to say book a is worth XXX based on CPG.,,,, not even as part of a call for people to invest......

 

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

[W16227]

1. Design a half arsed graphic of a coin

2. set up a retro website

3. convince some nerds to buy your comic coin

4. profit!

 

 

I wonder if the thread will make it to Friday.........

[comix4fun]

Meanwhile....over at the CryptoComicCoin Reimbursement Department.....**

 

 

 

 

 

 

** Full credit to Dr Chaos for posting this exchange first.

[JTBGOOD-migration]

just hope you looked into the legal issues - I would actually REALLY question any comics book store trying to say book a is worth XXX based on CPG.,,,, not even as part of a call for people to invest......

 

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.

[delekkerste]

--- 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.

 

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.

[comix4fun]

--- 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.

 

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.

 

 

[RockMyAmadeus]

You are wasting your time arguing over semantics like whether 30 is "more than a handful." Stick to the facts, find out as much as you can, and retool. There may be an idea here, a gem in the dirt, if you are persistent. Right now, however, it's just a bunch of dirt.

 

Entrepreneurship...

 

[RockMyAmadeus]

--- 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.

 

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.

 

 

 

Chang looks like he's in the middle of a vicious outbreak of the Herp.

[JTBGOOD-migration]

just hope you looked into the legal issues - I would actually REALLY question any comics book store trying to say book a is worth XXX based on CPG.,,,, not even as part of a call for people to invest......

 

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.

[FutureFlash]

I thought this was joke at first it with the whole retro feel website...then I realized this guy was serious.

 

Hey buy these sweet coins, and I buy sweet comics. Thanks, Bros!

 

Not the first to the dumb and dumber bit, but it fits!

 

 

Edited January 13, 2015 by FutureFlash

[delekkerste]

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.

 

At $5,000, it's not going to be worth their time to investigate you. But, it does put a fairly low cap on how big this can get without attracting the attention of the authorities.

[RockMyAmadeus]

I thought this was joke at first it with the whole retro feel website...then I realized this guy was serious.

 

Hey buy these sweet coins, and I buy sweet comics. Thanks, Bros!

 

Not the first to the dumb and dumber bit, but it fits!

 

 

Lauren Holly is an interesting cat.