[IPO] Teehe - DAO sports book and casino based on Peershares

The Plaza
#1

Teehe.net

We aim to provide a secure, user-friendly platform using a nonvolatile digital currency; accommodating anonymous wagers with instantaneous deposits and withdraws fulfilling all gambling desires

We are entering into a new era of economics; where money knows no borders and does not rely on government promises. This revolution started with Bitcoin, blockchain and crypto-currency; possibly the greatest inventions of 21th century. Now it is possible to run a business without relying on banks, pay or be payed in minutes – wherever you are and whoever is your counterparty. We the people are no longer limited by the laws of nation states and may choose to remain anonymous for all our financial activities.
This is a true free market, spanning the whole planet – wherever people have access to an Internet connection.

Over the last year we have seen other great inventions based on the blockchain, like concept of DAO (distributed autonomous organization).
DAO runs on the blockchain, existing only on the blockchain. One of the bright and successful examples of this is the Nu network, a shareholder owned company based on PeerShares that acts like central bank and
provides asset that is pegged to US dollar. This enables businesses and people around the world to trade, work and be financially free without being exposed to the perils of volatility.
Just like NuNet, Teehe will be DAO based on PeerShares and will issue its tokens over the blockchain.

Shareholders of Teehe employ managers, who run the business and make decisions based on expected profitability.
To ensure this, managers will have shares in Teehe. Managers aim to please both customers and shareholders.

It is important to set things right in the beginning, to make a secure and future-proof platform. To ensure a long-lived operation, Teehe will avoid interacting with traditional institutions; all business processes needed to establish the platform will be anonymous.
The platform will be designed and coded internally. It will use modern technologies with security and practicality as areas of focus. Many people have been burned in the crypto-currency space due to bad software design; we want to avoid this worrying trend by making sure our platform is robust and coded with security in mind.
Beside classic Internet channels our platform is accessible trough Tor and Namecoin’s p2p DNS system to avoid possible censorship in the future.
Our platform will be exclusively hosted in politically neutral countries with sane and well-implemented privacy laws to ensure safety.
With focus on security, anonymity, and stability we envision a long and fruitful organization.

The native currency of choice is NuBits, a p2p digital currency pegged to United States dollar.
Customers of Teehe do not have to make constant conversions between currencies.
They have a stable monetary instrument. No longer does the customer have to bet 0.3834 to win 0.34774 Bitcoin they can simply bet $110 to win $100.
The ease of use and familiarity of USD will provide a far better experience for customers than existing betting platforms.

Deposits are accepted in any crypto-currency that is liquid with NuBits, at the moment of writing that is exclusively Bitcoin. Customers can use well-established Bitcoin infrastructure to reach Teehe. Customer funds will be denominated in their currency of choice with USD set as default.

Teehe managers have secured the necessary developers to create the platform from start to finish.
What is needed is a distributed group of active investors to supply capital for a stake in Teehe as shareholders.

Managers can be contacted through the following mediums.

Bitmessage addresses: BM-NBBZngFv6Kc3Y8Qmg34eM7s5AtDGQbzD
Email address: Teehe@vistomail.com

For more information about the IPO including the prospectus and business plan visit Teehe.net

11 Likes
This is Your Final Chance to Purchase Shares. Teehe Funding Period Will End in Less Than 1 Day
State of NuBits - what are the next steps?
Nu business expansion
#2

Teehe will help create an economy based around NuBits. This will have a supplemental effect on the price of NuShares and provide organic liquidity for NuBits. Teehe increases the utility of Peercoin through dividend issuance in the form of Peercoin and from the expansion of the PeerShares model. This will be the second DAO formed under PeerShares, paving the way for future ventures.
Teehe will be of value to NuShare and Peercoin investors.

4 Likes
#3

Your peershares implementation is going smoonthly?

#4

We did not start development yet. We are currently in IPO phase and seek partners and investors.

For Peershares implementation we will first wait for Nu to become open-source so we can use updated Peershares code along with bugfixes and new features like motions.

1 Like
#5

I just wanted to mention this as it’s not clear from the original post, but this project was created by Peerchemist (the creator of Peerbox) along with help from one other unnamed community member. This is an important fact for potential investors to know because Peerchemist has a solid reputation in the Peercoin community, which lends immediate credibility to this project. Also, judging from his work on Peerbox, you can be sure that security in Teehe will be a high priority.

https://www.peercointalk.org/index.php?topic=3999.msg38285#msg38285

4 Likes
#6

Seeing the birth of any DAO / DAC makes me all giddy. The concept and potential of them is just so damn exciting.

Looking forward to seeing how this plays out, best wishes!

1 Like
#7

After you all read our papers and study them in detail I would ask for leadership of Nu to comment on this thread with official/semi-official statement; so community can feel this is legit and well planned.
Teehe will benefit Nu greatly, and it would be shame to terminate this IPO due to lack of support from this very community.

#8

How are you dealing with the legal aspects of this? At least in the United States this would be incredibly illegal for multiple reasons. And if you are anonymous how do you maintain trust of all the funds you are holding?

#9

We don’t handle legality, we don’t need to; as much as legal entities are concerned we do not exist.
Teehe is illegal as much as Nu is, if you consider Nu legit you will probably find Teehe legit - that simple.
Only thing that makes Teehe more “fishy” is that there is context of gambling attached to it. Neither Nu or Teehe answer to any government or pay taxes.
If you check out our Prospectus document there is Legality chapter, inspired by one from Nu.
As you can see, it is up to client/investor to decide is Teehe illegal or legal in any specific jurisdiction.

Our initial screening has shown that citizens of USA are very much concerned about this. We consider this doubts and worries exaggerated and clouded by tag of “gambling” that is attached to Teehe. You should look at Teehe as yet another DAO.

Contrary to popular belief online gambling is not illegal in the United States, merely the money transmission process to online gambling companies has been outlawed by the Unlawful Internet Gambling Enforcement Act in 2006.

As for illegal offshore gambling houses, Teehe is not your classic off-shore gambling enterprise.
Teehe is structured to be resilient to attacks from legal entities by its ownership structure in form of DAO.
There is no way for government to seize funds or credit card company to block money transfers.
There is no way for any government or bank to influence Teehe, that is the design.

It is important to say that only contact point of Teehe with “real world” is dividend sold for Fiat by our shareholders. If shareholders can do this without government interference, they are 100% safe and anon.
I do not recall reading about issues with Nu dividends, so I do not think this is a problem.

And if you are anonymous how do you maintain trust of all the funds you are holding?

We consider anonymity a strength, not weakness. If you look at how Nu is structured you will also find that is run by anonymous entities that will answer to nobody in case of collapse. Yet it works.
We have anticipated doubts about this being scam, so @Peerchemist has accepted to be our face in the public.
IPO funds are kept in multisig wallet among @Peerchemist and one neutral party, well know Nu and Peercoin community member who is chosen for good reputation and strong moral.
Even if managers of Teehe want to steal the funds, they cant. That is the design.

2 Likes
#10

Hi @teehe, great that you came up with this and I wish you all the best for the future of this project.

That’s probably a good approach. Since Nu contains the whole multi-currency aspect, which is irrelevant for your concept, its probably still easier to start from the Peershares code and to use the Nu code as reference to improve the functionality where its needed. Are you planning to make the share implementation open-source?

#11

You do make a good point @creon. But we can expect a lot of fixes and polish on original Peershares code once Nu is open-sourced. I am talking about low level stuff, not related to multi-currency, data feeds, motions etc.

However, Peershares implementation is planed down the road some 30-40 days after IPO is completed. There is no need to rush with this now, it is better to go step by step. So, we have a lot of time to think about it.

Naturally our Peershares implementation will be open-sourced. We do not have anything to hide, and it will benefit the community.

#12

Good reply, I will be watching your project.

1 Like
#13

I’ve read the prospectus and business plan and can confirm that it’s very apparent this is a serious project. I think we would all agree that the stability of NuBits would be very useful to users on the Teehe platform, and that Teehe’s success would help grow the Nu ecosystem. Teehe would be the first gambling website to use NuBits, setting the stage for others to adopt NBT.

Good luck! I’m glad to see @Peerchemist involved in particular, due to his excellent work in the Peercoin community. I also appreciate that you are actively answering questions to provide transparency.

5 Likes
#14

Thank you for your support, me and other managers have worked hard to get this far.
I hope we get pass this final step so I can do what I like to do - build stuff :stuck_out_tongue:

2 Likes
#15

Why is it better to raise money thru peershares than from traditional VCs?

#16

Do you know of any traditional VCs that invest in decentralized, anonymous entities that do not have a corporate structure set up somewhere?

Peershares allows the Teehe team to distribute equity and profits outside of the traditional corporate equity system (preferred and common stock, bonds, etc.). It’s what it was designed for.

4 Likes
#17

I’m encouraged by the direction that the Teehe team is taking this venture in and look forward to watching it closely as it develops.

This following should not be construed as me offering investment advice, I’m not qualified to do that and your unique situation is unknown to me – this is just a personal opinion.

While I cannot predict if the Teehe team will be able to develop and launch a successful enterprise, after reading the prospectus and the business plan, and after spending a long time following @peerchemist’s work on Peerbox , I’m confident that the team’s backgrounds in technology, security, and gambling give them an excellent starting point.

4 Likes
#18

What I meant: you have a nive business proposal - why dont you talk with traditional investors, launch a traditional corpration and raise money? like any single company features on coindesk?

#19

Funding raised through traditional venture capital firms eliminate anonymity.
Furthermore, an elimination of anonymity is a point of failure for the organization if legislation were to negatively shift in either the cryptocurrency or gambling industry. In this regard, Teehe management has the foresight to raise funds in an anonymous fashion through Peershares, to prevent third party intervention in the future.
We are aware that start will be harder, but it will pay off in the future.

2 Likes
#20

Why every single bitcoin company in this list (https://angel.co/bitcoin) not anonynous?
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