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

[center][size=24pt]Teehe.net[/size][/center]

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[size=12pt]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.[/size]

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

Many of the shareholders of Teehe will come from the Peercoin and NuBits community. The PeerShares implementation was chosen for the following supplemental reasons.

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.

Hi,

I just wanted to say this ambitious project is a brainchild of mine with help of one more community member.
We have worked hard to present this project in best light, so please take a look at documents available @ Teehe.net.

We hope community will see its benefits for the Peercoin ecosystem and help us turn the idea into reality.

If you have any questions, please ask. I will answer questions on this forum.

Very promising stuff!! Please keep us posted about the evolution of this project.

Great!

Very nice :slight_smile:

[quote=“peerchemist, post:3, topic:3394”]Hi,

I just wanted to say this ambitious project is a brainchild of mine with help of one more community member.
We have worked hard to present this project in best light, so please take a look at documents available @ Teehe.net.

We hope community will see its benefits for the Peercoin ecosystem and help us turn the idea into reality.

If you have any questions, please ask. I will answer questions on this forum.[/quote]

The fact that Peerchemist is behind Teehe is a very important fact for potential investors to know, since he has such a solid reputation in this community. It lends this project immediate credibility. Also, judging from his work on Peerbox, you can be sure that security in Teehe will be a high priority.

This is major news. We’ll now have two major Peershares based DACs/DAOs supporting Peercoin and Nu. I hope your IPO is a success! :slight_smile:

Also, this was posted on the Nu forum and is important…

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.

Great to see some concrete plans with building another DAO on Peershares/Nu implementation.

Good luck with IPO!

This was posted on /r/bitcoin by Thireus…

Also I posted on Twitter and Facebook…

Peerchemist, do you want it posted on /r/cryptocurrency and bitcointalk, or would you rather it be kept to the Peercoin and Nu communities for now?

Okay, thanks @Sentinelrv

We will handle /r/cryptocurrency ourselves, we plan to have Reddit AMA there over next 2 weeks.

As for bitcointalk, we already have post: https://bitcointalk.org/index.php?topic=984944.0

However, we would be grateful if you have posted something about us on official Peercoin thread over at bitcointalk.

Done…

https://bitcointalk.org/index.php?topic=793142.msg10741384#msg10741384

I added it to the top of Peercointalk as a news item as well.

Also for everyone reading, here is another important post made by the Teehe account on the NuBits forum…

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.

I’m very happy to see a new DAO using Peershares. Using a stable currency is a stroke of genius. :slight_smile:

Looks like I am late to the party :stuck_out_tongue:

Can’t wait to see what comes of this

I’ve posted another thread on Reddit with a more informative title…

I’ll also post some more on Twitter and Facebook. I believe it’s important to both the future of Peershares and Peercoin that this IPO succeeds, so please everybody do what you can to promote it.

I noticed the x-post of Chinese.
http://8btc.com/thread-14927-1-1.html
and there are some questions from the Chinese .

  1. Does TEEHE has a website already?
  2. What kind of investment does TEEHE accept. (btc/ppc/nbt)

There should be a FAQ section to clarify these doubts.

[quote=“redlee, post:15, topic:3394”]I noticed the x-post of Chinese.
http://8btc.com/thread-14927-1-1.html
and there are some questions from the Chinese .

  1. Does TEEHE has a website already?
  2. What kind of investment does TEEHE accept. (btc/ppc/nbt)

There should be a FAQ section to clarify these doubts.[/quote]

Accepted crypto-currencies: Peercoin (PPC), Bitcoin (BTC), or NuBits (NBT).

You may have seen that Fuzzy is building something to create your own Peershares DAC/DAO by choosing your own settings. I believe what he’s working on will be the old basic version of Peershares though.

In order to launch the Teehe blockchain, will your team be adding features from Nu (once it’s open sourced) to update Peershares, such as motion voting and data feeds? If so, this would be a side benefit of supporting Teehe. With these features added to Peershares, Fuzzy should be able to include them in the tool he’s creating, allowing anyone to easily create a Peershares blockchain that has motion voting and data feeds built in.

[quote=“Sentinelrv, post:17, topic:3394”]You may have seen that Fuzzy is building something to create your own Peershares DAC/DAO by choosing your own settings. I believe what he’s working on will be the old basic version of Peershares though.

In order to launch the Teehe blockchain, will your team be adding features from Nu (once it’s open sourced) to update Peershares, such as motion voting and data feeds? If so, this would be a side benefit of supporting Teehe. With these features added to Peershares, Fuzzy should be able to include them in the tool he’s creating, allowing anyone to easily create a Peershares blockchain that has motion voting and data feeds built in.[/quote]

Yes, we will wait for Nu to become open source.
As for tool Fuzzy is creating, Teehe managers will try to deliver this “Roll your own DAC” functionality as our thank you to community.

Congratulations for launching the IPO

In the prospectus I see “Please make sure that investor has full control of Bitmessage or email address, since managers will contact investors on the same address for share delivery or to return investor funds if IPO is not successful.” Why is that? Why isn’t the full control of Teehe shares address (i.e. privatekeys and by extention wallet passphrase) the equivalent ownership of the shares? If A has control of the addresses private keys and B has the email address, which one does Teehe consider the shareholder?

Will Teehe accept IPO investment until the fun reach $150k and terminate IPO?

I’m not sure I understand your question, so maybe this will help and maybe it won’t. The Teehe Peershares blockchain won’t be created until after Nu is open sourced and things like data feeds and motion voting are added. They’re conducting the IPO now though in order to raise funds for development of the main website (sports book & casino) and so developers can work on building and launching the Teehe Peershares blockchain.

In order to purchase shares, you’ll need to contact a Teehe representative through either the email or bitmessage address provided on teehe.net. You need to make sure you fully control your email or bitmessage address though, because once the Teehe blockchain is ready to be launched, they’ll contact you back through the same address you used to purchase shares with so that you can finally receive your shares.