Author Topic: [ANN] Introducing Kexcoin - BitShares Powered Real Estate Crowd Funding Project  (Read 48555 times)

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Offline paliboy

1) We are based in the UK and governed by UK law
Name of the company? Link to the public registry so that we can verify?

2) We have been successfully providing student accommodation for almost 40 years (winning multiple awards) why would we need a business plan now?
Because this is a new company. Although the experience of team is very valuable, we would like to see revenue projections, cost projections, risk assesment.

3) Why would we leave the company after 1 year? The idea it to build up the company to generate more profits and increase the size of the portfolio? The company is the value not the Kexcoin that we receive in payment for many, many, years of work?
You never know why you might leave... We all are mortals and your kids might not be interested in running this business or you might not have kids or...

4) The core team get 10% (prorata) of the funds raised not 15% and nothing else. No salaries for the full time. If anything it's too little.
If it's too little, why are you doing it?  ;) It's up to investors to decide if your compensation is fair, not you.

5) We aim to be as transparent as possible and everything will be accounted for and audited for public viewing. We will be using a well known international firm for this.
Name of the company? How often will you report back to investors? Montly? Quarterly? Which channel will be used for reports?

6) We expect the first buyback to be performed in 3-6 months.
Are you really able to start generating revenue that fast?

7) I'm unsure why it's a flawed buy back or why the price would go down? As we buy back and destroy the Kexcoin they become more finite? With regular buybacks from regular profits we expect the price to increase. As you know you can set your sell orders on the exchange at higher prices and wait for them to be filled.
Because we already experienced it with other buybacks ;(

8 ) Core team receives 10% of tokens, what will be other 5% used for? Contractors? What if you need to hire a new full-time employee?

9) What costs are associated with your business? How big are they?

10) Is Kexcoin company 100% decoupled from Kexgill? What guarantee do we have that you won't be buying properties from Kexgill?

11) You mentioned that Kexgill has 120m GBP in assets, you forgot to tell use how much it has in liabilities. I would expect it to be highly leveraged.

12) It tool you 39 years to build a company with 120m GBP in assets, now you want to build similar company with about 70m GBP in assets in couple of months. Isn't it too ambitious?

13) Are you able to use these 70m GBP to buy properties in reasonable time (1-2 years?)

14) Since you already have a successful company, why didn't you bring also some fund to Kexcoin? When this ICO is successful, Kexcoin will have debt to assets ratio 100%.



Offline fav

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what turned me off is the 15 year buyback cap. real estate is a long term investment, yet after 15 years you just stop buyback and own everything.

Offline kexcoin

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What important facts are missing and what would you like to know? I'm happy to explain?

1) We are based in the UK and governed by UK law
2) We have been successfully providing student accommodation for almost 40 years (winning multiple awards) why would we need a business plan now?
3) Why would we leave the company after 1 year? The idea it to build up the company to generate more profits and increase the size of the portfolio? The company is the value not the Kexcoin that we receive in payment for many, many, years of work?
4) The core team get 10% (prorata) of the funds raised not 15% and nothing else. No salaries for the full time. If anything it's too little.
5) We aim to be as transparent as possible and everything will be accounted for and audited for public viewing. We will be using a well known international firm for this.
6) We expect the first buyback to be performed in 3-6 months.
7) I'm unsure why it's a flawed buy back or why the price would go down? As we buy back and destroy the Kexcoin they become more finite? With regular buybacks from regular profits we expect the price to increase. As you know you can set your sell orders on the exchange at higher prices and wait for them to be filled.

Let me know what you want to know and I'll provide what I can.

Offline pc

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This announcement is lacking so much essential information that I can only advise everybody to take extra care in applying their due diligence.

? it's an ANN, there are links to website and whitepaper.

what's up with the hostility here?

Why do you sense hostility when I'm only advising caution? :-)

Neither the website nor the whitepaper provide important facts.

For example, what's the legal/jurisdictional framework for this ICO?
Where is the business plan? (Hint: the whitepaper is not it.)
What prevents them from paying themselves high salaries, eating up any potential profits?
What prevents them from selling their 10% of the $80M they'll be raising after 1 year and leaving the company? (Hint: in real estate you can usually assume ROI after 15-20 years!)
How soon do they plan to raise any profits? (Hint: How long does it take to buy and let houses worth $80M?)
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline yvv

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For those who have not enough brains to distinguish between good buybacks and bad buybacks here is a little example: bitAssets also use buyback and burn model. But guess what is the difference? Tip: bitAsset investors are protected by forced settlement and they are guaranteed to sell their tokens at face value no matter what current market price is.

What is offered here is a bullshit. Investors are tricked into a guaranteed loss. No, people, you have to buy back your tokens at no less than you sell them during ICO. I don't know how to do this, it's your job to come up with a way. Until then  you may stick your tokens into your butt.

Offline paliboy


It's in shareholder's best interest if a company buys back cheap.
No, it is not. If they buy cheap, this means that you will sell cheap. How is it in your interest?
Quote

It depends on whether you are a short-term or long-term shareholder (some call them speculator vs investor).

Offline yvv

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It's in shareholder's best interest if a company buys back cheap.

No, it is not. If they buy cheap, this means that you will sell cheap. How is it in your interest?

Quote
The real problem is the later point you mentioned... they will own some tokens so they can buy back from themselves.

Yes, they leave 15% to themselves and who knows how much more will they buy from themselves during ICO. They leave themselves a HUGE spaces for all kind of manipulations.

Offline paliboy

The problem is that they set it up such a way, that they are able to buy their tokens back cheaper than they sold them during ICO, which means that you will not be able to sell them at higher price than you bought. Same as OBITS. And there is no way to control how much will they buy back from themselves, driving the price down.

It's in shareholder's best interest if a company buys back cheap. The real problem is the later point you mentioned... they will own some tokens so they can buy back from themselves.

Offline yvv

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yup nothing wrong with buyback and  burn

There is no problem with buybacks. The problem is that they set it up such a way, that they are able to buy their tokens back cheaper than they sold them during ICO, which means that you will not be able to sell them at higher price than you bought. Same as OBITS. And there is no way to control how much will they buy back from themselves, driving the price down.

Quote
The way to guarantee a profit is to hold until the price is above the price you paid.

Bullshit! The only way to guarantee a profit is to stay away from this scam.
« Last Edit: August 16, 2017, 11:04:53 am by yvv »

Offline edward freeman

Great Job MarketingMonk!
I like the project, great idea...
KexCoin

It is true that OBITS price is interesting to say the least...  how do you say low
What is possible for OBITS, increased price, increased volume, increased availability, monthly share-drops...
OBITS...  its a good thing

I am heading-up a Project to develop the Java Trading/Wallet client for the HEAT platform  based community-crypto-union project to provide crypto-banking to the more than 2 billion un-banked in the world today...

freemanfinicum.github.io

Offline fav

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Cool Project, I think this is an excellent use case for bitshares tech. Also I personally prefer the buyback mechanism as it is more favorable for taxes here in the US.

yup nothing wrong with buyback and  burn.

This announcement is lacking so much essential information that I can only advise everybody to take extra care in applying their due diligence.

? it's an ANN, there are links to website and whitepaper.

what's up with the hostility here?

Offline pc

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This announcement is lacking so much essential information that I can only advise everybody to take extra care in applying their due diligence.
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline lafona

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Cool Project, I think this is an excellent use case for bitshares tech. Also I personally prefer the buyback mechanism as it is more favorable for taxes here in the US.
BTS Witnesses: delegate-1.lafona     Witness Thread: https://bitsharestalk.org/index.php/topic,21569.msg280911/topicseen.html#msg280911
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Offline yvv

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The way to guarantee a profit is to hold until the price is above the price you paid.

Which means that you buy a token and watch how its price goes down forever, like OBITS. Thanks, leave your shit tokens to yourself.

Offline MarketingMonk

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The price falls when tokens holders are willing to sell for lower and lower prices.
The way to guarantee a profit is to hold until the price is above the price you paid.

This is the same for any cryptocurrency you buy. The difference here is that, as long as the properties are rented out, there is a consistent flow of new demand coming into the market combined with an ever decreasing supply of coins.