Bibei.com launches OKDICE stock trading

Recently, Bitbays (www.bitbays.com), a dual-currency Bitcoin exchange focusing on USD and RMB, will launch Bitcoin stock trading. The first listed stock, OKDICE, will be open for subscription from September 15 to September 21.

Stock issuance and trading are no strangers to the Bitcoin world. From the initial 796 Exchange’s BBK stock trading to the recent listing of Bitcoin Group in Australia, various attempts have emerged one after another. Although BBK’s stock has experienced a round of sharp rises and then continued to fall after listing, just like A-shares, the entire industry will not stop innovating, because Bitcoin represents the future and more pioneering attempts should be made.

Elon, the founder of BiBay, said that although the Bitcoin community is a bit radical in exploring and trying new things, BiBay Technology went through six months of research and demonstration before launching Bitcoin stock trading. The reason why the stock listings in the Bitcoin community were unsuccessful in the past was analyzed. There were reasons for the lax listing process itself, improper selection of listed companies and lack of supervision after listing. These aspects can be improved through management and technical means. BiBay's stock trading business focuses on meeting the actual needs of customers and solving the problems of difficulty in stock circulation and inconvenience in exit among shareholders of a large number of crowdfunding companies.

From a technical point of view, virtual currency stock trading represented by BitShares has obvious advantages that traditional stock exchanges do not have: First, using virtual currency as proof of holding shares greatly increases the transparency of listed companies' equity, and the total amount of issued shares does not rely on the credibility of a certain institution but is guaranteed by open protocols and public peer-to-peer network data. Second, the characteristics of virtual currency can ensure that any other exchange that wants to provide trading of the same stock only needs to support trading of that currency. In addition, customers can store shares in their offline wallets just like storing any virtual currency, which is something that traditional exchanges cannot do.

In addition, when it comes to the selection of listed companies, BitBays tends to adopt a more unique standard, namely: listed companies must be profitable companies, and listed companies can meet the conditions of weekly or even daily disclosure of financial data. Because the most favorable support for a company's stock price comes from the company's continuous profits and stable dividends. If this is met, it can continue to bring benefits to shareholders. Disclosing financial data weekly can avoid insider information and speculation before the quarterly financial reports of traditional listed companies. Try to be fair and transparent.

The counterpart of OKDICE is the Satoshi Dice website, which is the largest application website in the Bitcoin world. Since the digital currency dice adopts an open and transparent random algorithm, the business is very attractive to players. The business has developed rapidly and quickly occupied more than half of the transactions in the blockchain. Later, the founder sold the website for 120,000 BTC. Digital currency entertainment has also become the most popular consumer application of Bitcoin in the market. In addition to absorbing the open and transparent characteristics of Satoshi Dice, OKDICE also provides users with ways to play as a banker, as well as ways to play dice with multiple currencies, enriching the content of the game. Since its launch in May 2015, OKDICE has distributed dividends to customers in the amount of 268.68 Bitcoins and 15,876 Litecoins. Calculated at the price at that time, it was approximately RMB 710,000. The average dividend per share is approximately RMB 0.713. Calculated at the listing price of RMB 5.5, the cumulative dividends in 4 months are 12.9%, and the annualized return rate is 39%. (Other currency businesses are not included)

We chose OKDICE because it meets these two conditions: OKDICE pays dividends monthly and is relatively stable. In addition, OKDICE discloses operating data in real time, so it is easy for customers to calculate the return on investment for the month.

Similar to the traditional listing process, the BitBays team conducted a strict due diligence on the listed company OKDICE. The OKDICE team has been engaged in the sales and mining business of Bitcoin mining machines for a long time, and has been operating honestly in the industry with a good reputation. Currently, OKDICE's business is developing steadily. It is also negotiating equity investment matters with listed companies.

On the basis of fully ensuring the accuracy and timeliness of information disclosure, BitBays guarantees the interests of its trading customers through necessary business supervision of OKDICE and grasp of its future development.

Bibei.com also admitted that it is currently evaluating whether to use BTS or other virtual currency technology architecture, but this does not hinder the listing of OKDICE. After launching OKDCIE stock trading, it will improve this technology and launch a series of equity transactions of companies with good dividends and stable business development. Typical company targets include chain inns and chain restaurants.