Bitcoin Forum

Money and I have had a love-hate relationship, I've always had an interest in it. I got a job at 14 as soon as I could mostly so that I would be able to buy cool things like the fastest modem on the market, but I quickly realized money was always going to be necessary for things.
It has always killed me that although currency and debt is central to our lives, few people understand exactly how their assets and debt play into the currency system as a whole. Think about that for a second. You spend 1/3 of your life at your job (if you're lucky) to make money, and you don't even understand the extent of how that account balance plays into the financial system of my country.
I consider myself to be somewhat altruistic but also libertarian, so I've always been very conflicted with the reality that some people get to do very little work and enjoy lots of money based solely upon the virtue of having money in their family. Reconciling the idea that "working hard" and "working smart" with the obscene profits possible in the stock market and options market is very hard to do.
I've spent a couple of hours today watching a satirical video called "The American Dream" after someone posted it to my facebook will. It's essentially a light conspiracy video, but there may be a tinge of truth in it.
I found where someone had posted it to reddit, and that led me to a documentary called "Money As debt" which explains that the biggest threats to the financial system of the world are a lack of productivity and out of control interest rates.
This is what made me think of bitcoin. I'm very afraid that bitcoin is going to die unless people find a way to start seeding the production of goods only available in bitcoins.
The reason for this is simple. Right now the biggest thing I see people trying to use bitcoin for is making money without doing anything, as an investment. This is fine, but long term makes bitcoin inevitably tied to other currency systems. All of these people investing in mining rigs accumulating thousands of BTCs are eventually going to decide enough is enough and the end will come VERY quickly if there are no stores operating only on bitcoin. All of these ideas about bitcoin acting essentially as a forex alternative is great, and people gambling or buying things anonymously using bitcoin is good for the market, but these kind of endeavours will never generate the amount of continuous interest in bitcoin that a few prominent online marketplaces could.....
So here's what I'm thinking.. What we need are Bitcoin venture capitalists. That means people who have been running mining rigs and have accumulated several thousand BTC, but are currently just sitting there looking at is as an asset. Lets be honest, there’s a chance that you’ll get rich with your BTC sitting there, but it’s remote. At this point BTC is too niche, and with it getting coverage in places like forbes magazine and with an OPTIONS MARKET opening up, it’s just a matter of time before people start to look at is as a place to invest (see GAMBLE) instead of becoming a place where anything of value is actually created.
The plan is simple: You agree to fund a small start-up project in BTC. That start-up project agrees to conduct transactions on the internet PRIMARILY in BTC, offering a surcharge for any business conducted in any currency outside of BTC. The other details are specific to the individual agreement that is set up between the bitcoin venture capitalist and the management of the start up.
I have created an organization that's dedicated to matching early adopters with potential startup possibilities. I want to add forums, etc, but I'm very concerned about having to police spam, etc. I feel that by keeping it very simple, clean, and above board we can open up a unique place where individuals who are serious about the advancement of BitCoin can work together towards that end. With that in mind, check out the link

http://www.btcvc.com/

I'd be interested in input from people.

Excellent.  Please check your PMs.

I have a modest idea for enabling bitcoin to be truly decentralized using a series of difficulty locks much like locks allow ships to travel across lakes boundaries of different water levels.

I sent you back a PM. I'm all for the idea of decentralizing in every way possible, so long as the plan for generation and distribution isn't changed drastically. The finite nature of the currency is what makes it particularly attractive for lending into a productive economy. 

Responded. Can you meet me in #bitcoin-otc on freenode IRC?

We can hash out a few details and then we can start a debate on here about it.

this is a great thread, but perhaps it might be worth while to restart this thread and remove the first 3/4 of it about your personal life and your facebook and etc.

The ideas you present at the end are great, but I barely got through the whole post...if I left, I would have missed the meat at the end.

SO great idea, I would participate, and I am participating - but lets restart it so the first message people see has proper punctuation, paragraphs, and is to the juicy point.

We definitely need more service based bitcoin ventures...expect 2 or 3 from me in the coming weeks.

interesting

wish I had more to contribute i hope ill be able to get some bitcoin accepting service going on. We need more places accepting bitcoins to many people are trying to use bitcoins as a way to get money quick, cashing out into USD etc...

I'm concerned that we're going to face a liquidity freeze in very short order if we don't start getting a lot more liquidity in the market. People are already starting to hoard their bitcoins, and it would seem to be with good reason. If something was consistently doubling in value why would you get rid of it? The problem is there are HUGE swaths of BTC that are held by mining pools. Unless those mining pools are investing back into the BTC economy, buying from BTC stores, etc, it's just a perpetual ponzi scheme until all of the coins are generated.

Your speech got me going a little bit, Check your messages :)

Welcome to the forum btcvc.


You are not the only one already working on this, so I challenge you to a healthy and exciting competition.   :)

I agree that there is great opportunity for startups with services in bitcoin.

There is already a resource for getting startup capital, glbse.com, and it's worked very very well for most of those who have used it. UBX, DISHWARA, and SIN are just 3 ticker symbols(two mining operations and an exchange service Ubitex) that I was personally invovled with in helping them get started on the exchange. They all managed to get all or most of the funding they needed to begin.

I think you could help a lot of startups (Keep in mind I build glbse.com) through the stock market, many just need help in getting their contract written and shares set up. The work involved isn't too much if you know what you're doing, but it's already put a few people off.

Help startups by helping them get listed on the exchange, and you don't need to find any rich investors, as there are plenty of smaller ones willing to invest (as well as the big ones).

As of writing it's a little difficult to use (the client, getting started buying and selling is not easy). Right now we have heavy development on a web client which should be available to use by the 6th of June, and will kickstart usage on the exchange.

I've also got a looooong list of features that I'm adding as fast as I can.

btcvc, pm me if you're interested and I'll train you up so you can help get startups listed and funded through the exchange.

Nefario.

Nefario, what amounts are typically seen coming from "smaller investors". I'm just curious wether I should consider it as well.

glbse can handle very tiny amounts, so it depends on the price of a single share, thats the barrier to becoming an investor, buying a single share, which for many listed items is around 1 bitcoin.

Your BTC venture capital may be a good idea.

But your notions about liquidity freezes and how btc will be/might be used are all wrong. Probably best if you kept that to yourself if you want to be taken seriously. BTC could take over the monetary role of gold in the banking system (i.e. exclude jewellery, electronics, etc) and do nothing else to be massively successful, and not 1 in 1000 people would even trade it.

A single use metaphor for bitcoin will exclude others from participating. Anyone who thinks less participation is going to make bitcoin more robust is ridiculously optimistic. Anyone who thinks less participation will make it survive the attacks on it, from those threatened by it, has not paid attention to the events of the last ten years.

Unless bitcoin makes to soccer momcoin status, it will not survive attacks, legal or in the network.

Now why anyone would choose to support a currency that excludes other uses by those who are interested in it is beyond me.

Not sure exactly what you are arguing (incoherently) here, but you seem to have wrongly assumed that I was advocating for exclusive use of bitcoin. Read carefully what I said, bitcoin doesn't NEED widespread adoption to prevent "liquidity freezes" or whatever the hell this guy is blathering on about ... I said nothing about it GETTING widespread adoption, if so, all the better.

Sounds to me like he may be wanting to "unfreeze" some of your capital so that it becomes his capital.

While Bitcoin may be thriving on exchanges like mtgox, there are plenty of people who want bitcoin and can't buy them easily. It's good that are exchanges to give people a general idea of the currency exchange rates, but they have barriers of entry that much them somewhat unattractive as far as I can tell. When trying to buy Bitcoin, I still regularly run across people trying to get one another to send US currency through the postal service. Talk about Security!

Bitcoin Venture Capital is making arrangements to make sure that all transactions are securely arranged. Identification through CA Certificates offered by Comodo and GlobalSign is going to be available to anyone who uses our service. All of our startups are signing an agreement to purchase any business related goods and services through BTC first before converting to another currency.

From the initial responses that we've gotten, a lot of people are tired of paying transaction fees to get their currency in and out of the exchanges. Building a native economy and businesses that operate exclusively in Bitcoin whenever possible is something that will benefit everyone.

Comodo got hax0red.