My "Bitcoin" Start up

[FTLane]

i put Bitcoin in quotations because it's much more then that. Hey guys I've been a member of this forum for a while and this is my first post giving you a look at my start up. What I do is provide financial solutions for people revolving mainly around the Bitcoin/Blockchain framework.

For example many people are paying credit card fees for let's say 3% when they sell goods. I can lower these fees to around 0% using bitcoin payments. So for every time they sell something through bitcoin payment they save 3%. I make a contract with them that says I get 50% of all the money I save them. So if they are doing let's say $100,000 in sales a month I get $1500 a month from them.

Another thing I do is create professional crypto coins like bitcoin for communities, companies etc. There is a lot of profit to be had in this area.

So what do you think of my start up? Also I'm looking for profit motivated people to work with me (note I didn't say work for me) and get into this market.

 

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[Oswalito]

So you offer get companies to use bitcoin as payment instead of credit cards and instead of charging them 2-3% fee. You'll only charge them 1%?

you're basically creating a company with payment gateway using bitcoin? what happens when people go to buy on that merchant's site and they don't know what bitcoins are? Or don't have bitcoins?

 

[FTLane]

So you offer get companies to use bitcoin as payment instead of credit cards and instead of charging them 2-3% fee. You'll only charge them 1%?

you're basically creating a company with payment gateway using bitcoin? what happens when people go to buy on that merchant's site and they don't know what bitcoins are? Or don't have bitcoins?

The company isn't forced to only deal in bitcoin. Bitcoin payments will just be a new form of payment offered. We don't just do payments either if a company or community wishes we are also able to create a coin for them.

 

[Oswalito]

The company isn't forced to only deal in bitcoin. Bitcoin payments will just be a new form of payment offered. We don't just do payments either if a company or community wishes we are also able to create a coin for them.

So, you're just another payment gateway with lower %. I think payment gateways work, I mean look at paypal, skrill, etc...there are a bunch.

I think this falls into, not reinventing the wheel but bringing a different/better execution to the table? If I had to choose a gateway provider nowadays though, I'd probably still stick to paypal because they've been around for so long or have the website take full responsibility and handle it all without a third party.

 

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[FTLane]

So, you're just another payment gateway with lower %. I think payment gateways work, I mean look at paypal, skrill, etc...there are a bunch.

I think this falls into, not reinventing the wheel but bringing a different/better execution to the table?

Like I said before we do payment services but that isn't our only business. We also create coins for companies and communities. this combination is extremely innovative.

It would be like if paypal let you use them as a payment gateway but in addition would make you your own currency if you wish.

 

[Fenix]

Interesting, FTLane

What are the benefits for a company in having its own crypto coin?

Then, if someone wanted to work with you, what type of expertise would you have?

 

[Oswalito]

Like I said before we do payment services but that isn't our only business. We also create coins for companies and communities. this combination is extremely innovative.

It would be like if paypal let you use them as a payment gateway but in addition would make you your own currency if you wish.

Can't I already make my own currency on my own website though? "buy 1000 coins for 1$" Now you have 1000 coins to spend on my site.

what would be the difference between that and having a crypto currency? (there might be a legit difference, I have no idea, sell me on this I guess)

 

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[FTLane]

Interesting, FTLane

What are the benefits for a company in having its own crypto coin?

Then, if someone wanted to work with you, what type of expertise do you have?

A crypto coin in truth can represent anything from currency to a contract or even an asset. A company may want its own coin to lower transaction costs, to be more decentralized, to break into an emerging market etc. the benefits really can not be understated. If you give me an example of a more specific company I could give you a more direct response of the benefits they would see.

I have a good understanding of the current financial network and its flaws and how to correct them.

 

[Oswalito]

A crypto coin in truth can represent anything from currency to a contract or even an asset. A company may want its own coin to lower transaction costs, to be more decentralized, to break into an emerging market etc. the benefits really can not be understated. If you give me an example of a more specific company I could give you a more direct response of the benefits they would see.

I have a good understanding of the current financial network and its flaws and how to correct them.

Twitch.tv Very specific company.

Geniunely curious. Let's say I'm Mr Twitch. What can a crypto coin do for me? ( My project is kinda in the same line of business)

 

[FTLane]

Can't I already make my own currency on my own website though? "buy 1000 coins for 1$" Now you have 1000 coins to spend on my site.

what would be the difference between that and having a crypto currency? (there might be a legit difference, I have no idea, sell me on this I guess)

The coins you are referring to would most likely be tremendously easy to hack and wouldn't have the security that cryptographic coins do. Cryptographic coins also have a market cap in the billions of dollars and are recognized as an evolution in the financial system. Crypto coins are traded on exchanges all across the world and also have an active community at its back.

 

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[FTLane]

Twitch.tv Very specific company.

Geniunely curious. Let's say I'm Mr Twitch. What can a crypto coin do for me? ( My project is kinda in the same line of business)

Well first off like I said transaction costs would be lowered dramaticaly by using cryptocurrency. In addition if twitch.tv commisioned me to make a coin for them they would have a better way for viewers to donate to streamers. If their was a "twitch coin" twitch.tv could distribute it among there users and in turn the users could donate to streamers and buy things from twitch.tv. All the while twitch.tv is paying little to no transaction costs and expanding their own community by having a brandable coin that others may see and become interested in the primary product.

 

[Oswalito]

Very interesting.

I'm genuinely interested now.

I'd like to know more about you. You may PM me if you prefer.

 

[FTLane]

Very interesting.

I'm genuinely interested now.

I'd like to know more about you. You may PM me if you prefer.

Message sent, I'm always looking for motivated people to work with.

 

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[Fenix]

FTlane, how much time would you take to create a cryptocoin and deliver it, so that the company can use it with its customers?

 

[FTLane]

FTlane, how much time would you take to create a cryptocoin and deliver it, so that the company can you it with its customers?

Depends on what features they want and what services they want me to provide. If they just want a basic crypto coin I could have it done fairly fast. Are you interested in using my services?

 

[Phones]

In Mr. Wonderful words, if you start to have success, what stops another big player from crunching you like the cockroach you are?

What differentiates you from BitStamp, GoCoin etc?

 

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[FTLane]

In Mr. Wonderful words, if you start to have success, what stops another big player from crunching you like the cockroach you are?

What differentiates you from BitStamp, GoCoin etc?

Part bureaucracy and mostly not being very inteligent, the well you'll get crushed by your bigger competitors argument in an emerging market idea is not very true from my point of view. Even if you do have countless recources Success is much more than just mimicking someone else.

I already explained a couple times what makes me different.

 

[Vigilante]

Can I pay for your services in Monopoly money?

 

[Phones]

Part bureaucracy and mostly not being very inteligent, the well you'll get crushed by your bigger competitors argument in an emerging market idea is not very true from my point of view. Even if you do have countless recources Success is much more than just mimicking someone else.

I already explained a couple times what makes me different.

You said what makes you different, now tell me, from a customer perspective, how are you services better?

Let's say I go into Zappos, why on earth would I convert my EUR & USD into Zappos currency? To save 3%? But wouldn't I be spending almost the same to convert to Zappos currency? Can you imagine the cost to educate a consumer on the potential advantage of this?

Now, from a seller/business perspective, I like the beauty of BitStamp/GoCoin, why? Because there are people with Bitcoins ready to trade them for physical goods. But no one, no one, is going to convert USD or EUR into Bitcoin for the sole purpose of paying with Bitcoin when they can just pay with a Credit Card/Deposit, it doesn't make sense.

Please explain me, because, if I, who know what Bitcoin is and have done some good amount of research, can't understand it, how will the average consumer do it?

 

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[FTLane]

Can I pay for your services in Monopoly money?

trolling isn't very fastlane.

 

[MitchC]

Could you possibly create their own currency and control the exchange value make it stay at 1 for 1?

If you did this, aren't there still fee's in converting to that currency? And back?

If not, I think your onto something, imagine Amazon having it's own currency it could hand out and ensure it was spent there, even accumulate as rewards... aaand have no transaction fee's bar your 1%

But I still fail to see how going from one currency then back can have no fee's...

 

[Fenix]

Are you interested in using my services?

Not know, maybe in the future. I wanted to know the time for the realization of the cryptocoin.

Fairly fast, it doesn't help me a lot, because what it means:
1 week?
2 weeks?
1 month?

I already explained a couple times what makes me different.

Comparing what you provide with Gocoin, the example Phones quoted, correct me if I'm wrong:

You provide the possibility to create one's own coin, with the features one wants. Gocoin doesn't provide it.

If I wanted a coin of mine, I'll choose you instead of Gocoin.

You provide to a company the possibility to accept Bitcoin as payment. Gocoin does it as well, demanding 1% of the purchases, while you demand 50% of the commission one saves compared to those of Paypal, Visa, etc...

So, let's make an example:

We sell $100k.

Gocoin demands $1k

If I use Paypal, since the fees are almost 3% + $0.30 = $3,000.30, you'd take 50% of this, so $1.500,15

Why should I choose you instead of Gocoin?

 

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[Jake]

Do you provide anything unique?

Bitpay provides this service for 0%
Coinbase does it for 1% (first $1 million is free)

Do you provide anything different than these 2 companies? Why would someone trust you over these companies which not only provide money transfers services to companies like Microsoft and Dell but are also VC backed by $100's of millions .

 

[juicemania]

@FTLane could you elaborate a little more on "creating a basic crypto coin"? Counterparty provides similar service where you could go and create an 'FTLaneCoin' for instance. Would you leverage a service like that or would you actually create an actual altcoin? Leveraging Counterparty would be a good option for this as it is supported by the bitcoin blockchain, although there are a number of other ways to accomplish this as well.

When you mention you'd provide whatever features the customer wanted, could you give an example of a feature you would customize?

There is definitely lot of opportunity in this space right now so I think you may be on to something. But, as always, the devil is in the details.

Look forward to hearing more about this.

 

[Davo]

.

 

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[themaxx]

Good idea but a competitive market. Stripe is getting into bitcoins and I wouldn't want to go up against them.