We are pleased to announce that Neo's flagship branch is scheduled to launch on February 24, 2014. As part of the launch, we will also release the following three products:
Instant-Access BTC Wallet
This wallet will function as a standard Bitcoin wallet which utilizes the multi-signature process. Neo will earn revenue from these accounts through the fees paid when exchanging Euros for Bitcoin. Account holders will receive a Bee card, allowing them to make purchases at retailers around the island of Cyprus, and through existing Bitcoin payment gateways.
This wallet will allow the customer to hold Bitcoins over a predetermined time period in their own wallet with multi-signature functionality. These wallets will enable the customer to execute an exchange back to Euros on the predetermined date for either the original Euro amount or for the value of the Bitcoin that is held in the wallet at the time of the exchange, however the maximum amount of gains the customer will receive will be limited to an agreed level. Neo will derive income from this type of wallet through gains made in the value of Bitcoin over an above the agreed percentage.
This wallet will enable merchants to accept Bitcoin payments from anyone. Merchants will have the ability to determine the exact percentage of revenue they wish to retain as Bitcoins and how much they wish to convert instantly to Euros as settlement. Merchants may accept payments into their bank account through electronic transfer, or collect as cash from one of the Neo branches. Should the merchant choose to access their money through one of our branches, they will have access to those funds within one minute of accepting the payment. We have decided to delay the second branch in Nicosia to ensure the flagship branch opening goes smoothly. The second branch will tentatively launch within the first quarter of 2014.
Bee Payment Network
We have taken delivery of the first batch of POS terminals. We are now finalizing the integration with Neo applications. Bee will not charge transaction fees to merchants. This ensures the lowest barrier to entry. Bee will instead derive income from the rental of POS terminals and monthly fees for online payment gateways. We have been working closely with a number of POS and Stock Management System developers to ensure compatibility and ease of integration with their systems and the Bee network. This will enable thousands of Cypriot and international merchants to easily integrate our terminals with existing infrastructure.
Neo EasyCoin is nearing the completion of beta testing. We are waiting for some locations to go online with different payment service providers. We are also working with other payment service providers in Europe to enable Neo EasyCoin to service additional European countries. Neo EasyCoin will provide service to the United States once we are in possession of a written clarification from FinCEN regarding our business model. Our lawyers are working on this daily. While we are confident in our plan, we also want to ensure long-term stability.
We have received consistent and positive attention from local news outlets, including newspapers, television, magazines and news websites. Here are some examples:
Neo's first advertising campaign is now underway. The first television advertisement will premiere on February 1st. Radio advertisements and a new Neo & Bee website will be launched in support of this campaign. The website will include detailed information about our personal and merchant wallet service offerings.
We continue to make progress in establishing clear regulations for the operation of Bitcoin-based businesses in Cyprus. We have taken the necessary steps to obtain a Cyprus investment firm license, which would enable us to offer time-locked wallets to customers. We will offer these wallets when we open the first branch.
Neo Xchange is a new venture in which Neo will act as a brokerage and trade on a new Bitcoin exchange under development. The Neo Xchange platform will offer trade derivatives and other financial instruments. This requires the platform to be regulated. We are working towards obtaining the required licenses from CySEC to operate this platform. More information will be provided as available. Once this platform has been launched, Neo will have greater ability to hedge the instant-access pegged wallets.
We are now developing our own ATM hardware that will enable customers to have access to all subsidiaries in many countries. This development will enable global expansion. By increasing our footprint in this manner, we can assess the data from these portals to determine optimal locations for expansion of the Neo network of branch locations. The Neo Portals project is being managed by Brad Vaivoda. Brad Vaivoda graduated from the University of Colorado at Boulder with a B.Sc in mechanical engineering. After beginning his career performing brake rotor design and analysis in Formula 1, he accepted a position aiding orthopedic surgeons during operations whilst working for Zimmer Holdings Inc., a medical device manufacturer in the orthopedic industry. Most recently, Brad was employed by The Boeing Company as a Test & Evaluation Engineer working across Boeing's commercial aircraft product lines. Brad has since turned his focus to Bitcoin and Bitcoin-related ventures. He has considerable experience with bleeding-edge technology and is familiar with working in fast-paced environments.
He's a co-host of Let's Talk Bitcoin, and personally, I think he's the fucking bomb. I'm even more bullish on NEOBEE!
Do you feel Andreas, Tuur Demeester are responsible for your losses in neo bee? Is there any way to estimate how many bitcoins or $ they raised in their IPO? Anybody here willing to write up a timeline of Neo & Bee from their first announcement of IPO or startup up to today? I didn't invest in Neo Bee but I'd like to learn how to avoid any other scams in the future. It seems like that's the standard procedure of scams nowadays to startup a bitcoin business, acquire investments, deposits and claim a hack, death threat etc and run away with customer deposits and funds. ie mtgox, silk road 2.0 and now neo bee.
So is Havelock Investments trustworthy at this point?
I noticed they have Neo & Bee on there and was thinking of buying some stock. But having looked out the closure of other bitcoin stock sites and that there isn't any color coins around that would save me by being decentralized I have to wonder if it's safe. I wouldn't want to put money in and then the site closes and as a result the stock plummets in value and I loose everything from stuff unrelated to Neo & Bee themselves. Any thoughts?
Political climate in Cyprus as it pertains to BitCoin
Hello Reddit, this is my first post of hopefully many on this forum. I am a Bitcoin investor and have recently purchased some shares of NEOBEE, which I view as a very promising enterprise with a unique business model in an extremely unique (and volatile) environment. I would like to get some input/opinion as to the political climate in Cyprus as it relates to serious investment in Bitcoin or possibly the country becoming a hub for crypto-currency. Here are some points of consideration to get this started:
Cyprus is a member of the European Union (2004) and thus somewhat subject to the whims of the European Central Bank.
Cyprus' economy has been greatly affected by the bail outs/bail ins related to the sovereign debt crisis / austerity measures / economic relations with the Greek economy.
There are political tensions that exist between ethnic Greek and Turkish Cypriots. Indeed, Turkey does not recognize Cyprus as it currently exists.
In a more general sense, NEO got Goxxed with its launch, thus diminishing its splash onto the world stage.
There are obviously many other considerations and I would like to hear your thoughts as to how they may positively/negatively affect the price of NEOBEE stock moving forward. Thanks!
There's been alot of talk about falling prices, but haven't seen Neo & Bee brought up as a reason. Let's not forget, the stock NEOBEE IPOed for around 12million, and as of a week ago, the CEO issued an official statement staying that the company spent all of its money and is now in debt. Remember that the NEOBEE did not accept fiat but rather bitcoins for investment. Neo & Bee blew its money on rent, salaries, and marketing. I doubt the majority of expenses were denominated in btc. In addition, the theory that Brewster stole some of the coins just means more to be sold now on exchanges. Anyways, I believe Neo & Bee played a material role in this crash to sub 400.
My thoughts on investing in Bitcoin denominated securities.
I had a few thoughts on "investing" bitcoins. I put a little into Neo & Bee as well as SFI through Havelock. I actually think that I likely won't sell those shares for more bitcoins than I bought them for, but I still might consider that I'm coming out ahead. Why? Because the infrastructural improvements that these companies are working on effectively increase the value of an individual Bitcoin itself. Let's consider these two scenarios:
I buy a Bitcoin and hold it. The market price of bitcoin goes of up 100% in a year. I've made 100% ROI in relation to USD if I sell at that point. Nothing wrong with that.
I buy a Bitcoin and buy a BTC-denominated stock representing a company (say MEXBT or NEOBEE). They use that money to further their business and they are successful, but at the same time the BTC price rises 150% and people that own their stocks decided to take profits. Their total Capitalization denominated in BTC is lower, but their Capitalization is actually higher in USD. If I sell my stock at that point... I've actually lost bitcoins and thus haven't turned a profit.... a buy and hold strategy of pure Bitcoin would have worked better.
Or would it have? Who's to say that my contribution to their cause didn't get baked into the market price of a bitcoin and that increase in price wouldn't have occurred without their contribution of new use-cases. It would be impossible to tell just by looking at the market, but if we see new use-cases come up (US->MX remittances and increased use in Cyprus) then by necessity the value of bitcoin would rise. This adds a interesting tragedy/comedy of the commons: It's possible that investing a rapidly appreciating asset into a moderately successful company you believe in will actually benefit those who chose not to invest more because they will still get value-addition to their Bitcoins. inb4: Cognitive dissonance accusation. I'm perfectly aware I'm performing some non sequiturs to get to my conclusion. I just wanted to prompt some discussion.
Mining has become unprofitable due to the massive difficulty increase. ALL mining stocks are going to crash. There's no way to escape the crash, other than to step out as soon as possible. Mining is a zero sum game, there's no way for you to win without someone else losing. Instead, stick your Bitcoin in companies that plan to earn money by expanding the market of Bitcoin users. One good example of this is NeoBee, who plan to get Cypriots to start using Bitcoin. This will earn you money in the long term, and raise the market capitalization of Bitcoin.
Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. Neo & Bee (NEOBEE): The Cyprus-based “bitcoin bank” has been using IPO funds to fuel a massive promotion campaign in the increasingly banking-hostile country. While the stock did fall significantly after the buzz around the IPO, from a high of nearly 0.006 BTC to 0.0034 BTC, NEOBEE has followed a relatively conservative strategy. 11:01:54 gribble: (calc <math expression>) -- Returns the value of the evaluated <math expression>. The syntax is Python syntax; the type of arithmetic is floating point. Floating point arithmetic is used in order to prevent a user from being able to crash to the bot with something like '10**10**10**10'. BOYNECLARKE LAWYERS LLP 99 Wyse Road, Suite 600 Dartmouth, NS B3A 4S5 Fax: 902-463-7500 Tim Hill, Q.C. Tel: 902-460-3442 Email: [email protected] Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin.
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