AltCoinBase listing on cryptostocks!Join the crowd funding.Bring FTC to Da MOON!
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Cool man.
PLEASE keep up posted on your status. We’re all big into projects like this. You can’t immagine how much demand there’s going to be for services like these.
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looking forward to seeing more
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[quote name=“altcoinbase” post=“36418” timestamp=“1385420290”]
[quote author=Kevlar link=topic=4715.msg36416#msg36416 date=1385419746]
That’s fantastic news! Congrats on your impending IPO.I had a few questions:
Since there’s no signup, how do users see their transaction log? How do they audit their customer’s purchases?
You said you were NOT a one man show, so who’s on your team? Are you hiring?
[/quote]Sorry for the confusion, as for the current site, there is no sign-up page/ transaction log as the website was created for the sole purpose of testing out my scripts as well as serve as a proof of concept. However, the new website WILL be a user based site similar to the other merchant sites.
I am not ‘hiring’. I do have sufficient personal contacts that are willing to work with me to complete this project, however i doubt they will work for free. So that, the “lawyer fees” and server costs are gonna be a big chunk of the IPO money.
[/quote]Well I think you probably confused us a little. You said you’re not a one man show, but then when asked about your team you just said you had ‘personal contacts’, and that you weren’t hiring, but the IPO money would be used to pay your personal contacts… which implies you would need to hire them. It’s pretty contradictory. Either your a one man show and your raising money to hire, or you have employees working for you presently.
See, investors want to know about the company fundamentals; Who their investing in is actually more important than what the product is. Perhaps you could elaborate on your background and expertise, and on what your specific plans are for the IPO money, who it is you’ll be paying, how much, and for what? Also: Are you US based? What are you doing about regulation? We’ve seen from the other exchanges that dealing in fiat currency is a multi-million dollar expense, I don’t think your IPO will cover that will it?
I’m super interested in these businesses because there’s going to be a huge market for them in the near future, and I’m very interested in investing in infrastructure, so I want to find out more before I take that leap.
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[quote name=“Kevlar” post=“36548” timestamp=“1385487759”]
[quote author=altcoinbase link=topic=4715.msg36418#msg36418 date=1385420290]
[quote author=Kevlar link=topic=4715.msg36416#msg36416 date=1385419746]
That’s fantastic news! Congrats on your impending IPO.I had a few questions:
Since there’s no signup, how do users see their transaction log? How do they audit their customer’s purchases?
You said you were NOT a one man show, so who’s on your team? Are you hiring?
[/quote]Sorry for the confusion, as for the current site, there is no sign-up page/ transaction log as the website was created for the sole purpose of testing out my scripts as well as serve as a proof of concept. However, the new website WILL be a user based site similar to the other merchant sites.
I am not ‘hiring’. I do have sufficient personal contacts that are willing to work with me to complete this project, however i doubt they will work for free. So that, the “lawyer fees” and server costs are gonna be a big chunk of the IPO money.
[/quote]Well I think you probably confused us a little. You said you’re not a one man show, but then when asked about your team you just said you had ‘personal contacts’, and that you weren’t hiring, but the IPO money would be used to pay your personal contacts… which implies you would need to hire them. It’s pretty contradictory. Either your a one man show and your raising money to hire, or you have employees working for you presently.
See, investors want to know about the company fundamentals; Who their investing in is actually more important than what the product is. Perhaps you could elaborate on your background and expertise, and on what your specific plans are for the IPO money, who it is you’ll be paying, how much, and for what? Also: Are you US based? What are you doing about regulation? We’ve seen from the other exchanges that dealing in fiat currency is a multi-million dollar expense, I don’t think your IPO will cover that will it?
I’m super interested in these businesses because there’s going to be a huge market for them in the near future, and I’m very interested in investing in infrastructure, so I want to find out more before I take that leap.
[/quote]Hi Kevlar,
The reason why i choose to go through crypto-stocks is because i want to establish trust with people investing in my site as my personal information is in their server and i can be tracked down if i “run”. Ask away… I’m here to better FTC as well as other alt coins and if someone more qualified is willing to take up this project now, i will gladly consider giving him the domain name and have him/her take over the project.To clarify, firstly i am an undergraduate graduating in 2 semester, i still have alot to learn in regards to coding but with enough determination and correct mentoring, i believe anything is possible.
My “personal contacts” are qualified programmers, student alumni as well as lecturers that i have spoken to who are interested to mentor and/or be a part of the project. When things take off and funding is received, i will finalise the details of remuneration(cash and shares) with those involved later on as nothing can be set in stone without cash in hand.
If all else fails and my personal contact change their mind about joining me in coding, i have received quotations from multiple sources to design, code as well as provide security and site maintenance. The quotations i have received are within IPO funding. Please note that quotations are based on a significantly lower number of users compared to BITPAY or GOX. As it would be nearly impossible to find funding for over a million bucks to create an infrastructure similar to GOX overnight, without a working/proven website.
If all goes as planned and the number of users start to increase, more shares will be sold to fulfill server/hosting requirements as well as other expenses. By then, share price would have hopefully increased significantly and if we are making estimations based on worldcoin’s “Schrambeck project’s” potential future value, such a requirement would not be a major issue. I am not worry about having millions of users on launch day and overloaded servers, that takes too much optimism.
Secondly i am not based in the USA, Bitcoin is officially unregulated here, and capital gains and non-taxable(no prizes for guessing where i am located.) But to be safe, i will only decided on registering the “company” or leaving it rogue (MCXNOW style) after consulting a lawyer. (need $ for that too)
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You are right, for a project this ambitious you will need to raise a lot of money to properly implement and support it. Getting the legalities straight is going to be a lengthy process in itself. You need to get some decent advice on this as there are ways to do this which are less problematic. If you are going on Crypto Stocks then there needs to be a lot of transparency for investors, like your name and location to start with. I suggest you find out what is a suitable course of action. It may be that running this system for small transactions is attainable quite soon compared to handling of $1,000 which will incur full AML and KYC laws. Let us know how you get on.
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[quote name=“Bushstar” post=“37634” timestamp=“1385754927”]
You are right, for a project this ambitious you will need to raise a lot of money to properly implement and support it. Getting the legalities straight is going to be a lengthy process in itself. You need to get some decent advice on this as there are ways to do this which are less problematic. If you are going on Crypto Stocks then there needs to be a lot of transparency for investors, like your name and location to start with. I suggest you find out what is a suitable course of action. It may be that running this system for small transactions is attainable quite soon compared to handling of $1,000 which will incur full AML and KYC laws. Let us know how you get on.
[/quote]
Yes i agree. For now, i would prefer not to reveal my name and location publicly yet but rest assured my personally docs and address is already verified by crypto-stocks in order to enable project listing function. The last i checked, current AML and KYC laws require account user identity verification, besides that, everything is pretty much the same as any other online business as crypto does not require a money changer/transmitter license YET. But laws can change pretty quickly.I totally agree with running a smaller system first and then expanding in the future, but even the smallest of crypto-exchanges require some decent coin to operate somewhat smoothly. If you are still willing to part with 1/2 of the bounty, i am willing to give you the username and password to my cryptostocks account, and you can be the one to set up the IPO and make the 2btc payment to list the project, so there is absolutely no other way i can use the bounty for any other purpose 8) if not i’ll have to part with my own 2 btc :-X
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[quote name=“altcoinbase” post=“38817” timestamp=“1386009414”]
Yes i agree. For now, i would prefer not to reveal my name and location publicly yet but rest assured my personally docs and address is already verified by crypto-stocks in order to enable project listing function.
[/quote]That’s sketchy as hell. Why act shady when asking for investment? You say you want to establish trust, but keep who you really are a mystery? You’re talking about running a business here, and asking for investment so you can get mentoring on how to code? I think you need some mentoring on how to run a business and how to get investment!
Let me give you a little advice from the master of starting businesses, Guy Kawasaki: “What would you do if you didn’t have the money? Now go do that instead.” Read “Art of the Start”, it’s on Amazon. It’ll save you 2 years of frustration.
Questions that immediately spring to mind:
Why are you hiding?
What’s your business plan?
Why should anyone give you money?
How did you arrive at your current valuation? -
[quote name=“Kevlar” post=“38849” timestamp=“1386013533”]
[quote author=altcoinbase link=topic=4715.msg38817#msg38817 date=1386009414]
Yes i agree. For now, i would prefer not to reveal my name and location publicly yet but rest assured my personally docs and address is already verified by crypto-stocks in order to enable project listing function.
[/quote]That’s sketchy as hell. Why act shady when asking for investment? You say you want to establish trust, but keep who you really are a mystery? You’re talking about running a business here, and asking for investment so you can get mentoring on how to code? I think you need some mentoring on how to run a business and how to get investment!
Let me give you a little advice from the master of starting businesses, Guy Kawasaki: “What would you do if you didn’t have the money? Now go do that instead.” Read “Art of the Start”, it’s on Amazon. It’ll save you 2 years of frustration.
Questions that immediately spring to mind:
Why are you hiding?
What’s your business plan?
Why should anyone give you money?
How did you arrive at your current valuation?
[/quote]
I am not a businessman clearly. I am also not a scammer as i made it clear that i am an undergrad undertaking a very ambitious project (please note that i did not claim to have a programming degree from MIT and state that i was working as head programmer in a billion dollar MNC). So if you think that this whole project is sketchy, nobody has a gun to ur head.As of today, nobody is doing anything about this whole altcoin-fiat fiasco, but i see as a doable task. If i get the funding, good, if not too bad.
If you want me to bang out the code for the site alone, i can do it. But obviously it will take awhile and be buggy(which will take time to fix as well). Having more experienced people = better.
Why are you hiding?
1)I am not revealing my identity because there is no need to at this point
eg, Hi my name is Jon Smith from Doe university, heres my facebook! am i less sketchy now?
If i add you on facebook, would you and IMMEDIATELY transfer me some bitcoins? (if yes, next post is gonna be my Facebook address)2)if IPO is successful and a company is being registered, my name will automatically be made public (same goes if i screw up the cryptostocks IPO).
3)To save myself from possible legal implications that i do not know about. (i do not have a full-time lawyer at my beck and call)
Why should anyone give you money?
1)Nobody should give me any money, but if they want to, they can. Its gonna be a big risk betting on a horse like me, but the rewards can be greater.How do i arrive at my current valuation?
1)I arrived at my current valuation purely based on how much funds i will need for the project. And I know OF COURSE when you add the numbers up, a startup CANT POSSIBLY be worth that much! I agree, i totally agree. At the end of the day, the valuation is up to the faith of the crypto community. IS scharmbeck worth 5M USD as a startup, i dont think so. But could it be worth 50M in the near future? :o maybe? -
baconplaza.com is now a thing.
i’m going to turn that thing into a thing or two.
altcoinbase.com will have me as a customer.
that’s settled now.
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Ftc:72DhvqNrDbcRo9Ew7atMkwfY3AbtckCc3V
Are you asking for donations of ftc?
Sorry, Im confused.
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[quote name=“altcoinbase” post=“38817” timestamp=“1386009414”]
[quote author=Bushstar link=topic=4715.msg37634#msg37634 date=1385754927]
You are right, for a project this ambitious you will need to raise a lot of money to properly implement and support it. Getting the legalities straight is going to be a lengthy process in itself. You need to get some decent advice on this as there are ways to do this which are less problematic. If you are going on Crypto Stocks then there needs to be a lot of transparency for investors, like your name and location to start with. I suggest you find out what is a suitable course of action. It may be that running this system for small transactions is attainable quite soon compared to handling of $1,000 which will incur full AML and KYC laws. Let us know how you get on.
[/quote]
Yes i agree. For now, i would prefer not to reveal my name and location publicly yet but rest assured my personally docs and address is already verified by crypto-stocks in order to enable project listing function. The last i checked, current AML and KYC laws require account user identity verification, besides that, everything is pretty much the same as any other online business as crypto does not require a money changer/transmitter license YET. But laws can change pretty quickly.I totally agree with running a smaller system first and then expanding in the future, but even the smallest of crypto-exchanges require some decent coin to operate somewhat smoothly. If you are still willing to part with 1/2 of the bounty, i am willing to give you the username and password to my cryptostocks account, and you can be the one to set up the IPO and make the 2btc payment to list the project, so there is absolutely no other way i can use the bounty for any other purpose 8) if not i’ll have to part with my own 2 btc :-X
[/quote]I am happy to pay for infrastructure for your system directly at this point in time to help you build into a mature system worthy of the bounty. Everyone knows my full name and finding my address would be an easy task. Not knowing who you are gives me no confidence as I have no recourse if you disappear. We are working in crypto where the news is full of people running off with others money on a daily basis.
So let’s start building your system. Can you share your business plan, infrastructure requirements and expected costs?
