Bitcoin Forum

My first post in this forum, and it is right on the target. I want to start my first bitcoin project. I have good information about the bitcoin and got couple of ideas in my mind. But now have to make a decision which one should i go for it.

#1 - A trading site

A website that attached with other exchangers using API like ShapeShift or CEX. Giving you more details of your trades in charts. Showing the point of buy/sell, current profit/loss and growing markets. A small fee will be charged as my income.

#2 - A lending website

Where lenders and borrowers meet at the same place. We can also add a 3rd person as well in it.

#3 - A custom t-shirt website

Where people customize design and submit it..people votes on them and then one T-shirt gets selected. Now if that T-shirt gets funding from atleast 20 peoples. It will be manufactured and then shipped to all supporters. This is the idea which i am thinking is most profitable. Plus the designer of that T-shirt will get extra bitcoins as it designed got succeeded

What do you think?

Hi
Welcome in most popular and famous cryptocurrency community of the world namely_ BTCTALK |
Nice to meet you! 

Personally I'm in favor of your 3rd idea. And strongly believe with proper implemention of that inital thinking could leads you in to big success!
From my knowledge, in crypto world that kind of service isn't available right now. But in centrelized world that's already make debuts and achieve big noise.

Thanks!

I don't know if the first idea has any potential to make money (for your income), about the second one there are already sites like that, poloniex has it too. About the third one I like the idea, it's pretty same like the KickStarter and it has the potential to make money.

Hi
Yes, I also do believe that! First of 2 haven't anything special to offer the bigger mass audience.
But the last one is much more prominent. And could become very much influencial over bigger community!

Thanks!

 

I think your third idea could be success and may also not require a lot of seed money to start with, both ideas of opening trading site, lending site will require a big team as well as huge seed money. And also don't forget the headache you have to keep about security and market competition/promotion.

i also agree with the 3rd one the first 2 are both hard to manage in fact even companies getting troubles with the 2. the 3rd option is more nearest to reality, you just need to have a good strategy to make it.

custom tshirt or stickers logos is good idea because many guys like to use for fun.. egsample i like to use stickers on my laptop

The picture you see in my Avatar is me wearing a T-Shirt I got from https://www.shirtinator.de/
I think they have a very nice and professional process where you can design your T-shirt and get one if you wish so.

I do not see in any of the 3 ideas anything new or special. Of course, you can enter any business at any time if you think you can provide the same service/product at a better price or a better service/product at the same price as established business.

Often this means you have to work against the resources the established business has put - and continues to put - into their business. Which means you will probably not succeed if you try to perform the lone wolf stunt.

You also write you have some understanding of bitcoin and ideas. My question (as an investor to you as well as an entrepreneur to myself) would be: What skills do you have?

Rico

I voted for customized T shirt  :), people like T-shirts very much , so there is more sales on that , it may be less amount  ,but user and customer base becomes large  once the customer base is  increased  you can start on more products and hence profit will be more.

Welcome to Bitcointalk!

That is not a bad option.As you know there are a lot of exchanges coming up recently making the niche a bit saturated.However,if you think you have sufficient investment for development and marketing,you should totally execute this idea.

DON'T!Have a friend who runs the exact same website and he isn't doing all that well.The site will be filled with scammers and drug addicts who'd never pay back any loans and degrade the quality of the website.

Again,Saturated.A lot of freelance money makers are doing the same with free online T-shirt designers.The concept is applied everywhere but not in the bitcoin industry at the moment.The problem is ,not a lot of good designers sell theirs for free..

yes is true, i bought many tshirt like "heisemberg" from breaking bad, or cat of schroedinger and similar :D

Good luck with your startup.

None of the above

While I stay on the same opinion,I'd like to elaborate.If you open something which is already famous and exists in 4-5 forms,the chances are you are never going to make it big plus a new company in the same domain everyday will be a challenge to be dealt with.Instead,look for a idea which is not implemented before and excel in it.

Trading website:

1) There's just too much competition for bitcoin trading websites. They're easy to build, and costs almost nothing to run. Building-up trust within the community is another challenge.

2) The purpose of cryptocurrency, is to mask users identity. With that said, there's a gap in the market for this sort of business, but the risks (not paying back, fraud ...) is also very Very VERY High.

3) Bitcoin T-shirt company? - I've seen some guys doing that. It's great. Again, you'd be in a niched-out market of people willing to wear geeky t-shirts about Bitcoin. With that said, if you're going into this market, you should create a large portfolio of products such as:


T-shirts
Hats
Cups
Wallets (physical)
belts
watches
bags
perfume
CryptoNotes
vaporizers
phone/laptop cases
room wallpapers
calendars
scarfs
suit cases
books
pens
domain names


--
--

Good Luck

I voted for a loan website. There are some loan websites already but I tried most of them and they did not convinced me.
It would be great if you choose a different way to implement such an service, for example by granting automatic loans up to a particular amount for users with good reputation.

i like third idea
most people like to design something like T-shirt
i can tell my friend who love to draw if your project is done

Not really viable niche. Why focus on bitcoin related designs and limit your business?
There are a lot services or eBay traders which will allow you to design your own T-shirt by picking any image from the internet.

Bitcoin t-shirts are niche market of already saturated 'design your shirt' field.

I agree with most members. First and second ideas are so much more options and websites, and there you have a lot of work to build trust
Still not enough websites where you can buy physical goods for bitcoin, and I expect to expand in this niche

I can also help design t shirts if you need any designers, we can build a business together ;)

Hi
Nice to meet you.
You can try to work with them.
Here is the Link_ https://bitcointalk.org/index.php?topic=1618572.0 |
They are asking designer to join.
[ For clarification_ I'm not involve with them. Just found on service section. And posting here to notice about an opportunity you are interested ]

Thanks!

#1 - A trading site

not bad, but you must have big capital and more budget to promote it since there so many competitor out there. the lowest fee might be attracted people to join your site.

#2 - A lending website

i'm not really sure with this idea but i think it's too risky,

#3 -A custom t-shirt website

as a designer i like this idea, and love the competiton but i'm afraid this is not going well i saw simillar project like this.

Just in my opinion.

What if "A custom t-shirt website" change on "A custom coin website", where customers design their own coin from gold and silver add tools where customers can add pictures, text and draw, one coin will cost 35 - 40$ + shipping 15 - 20$ , payment method can be Bitcoin. Will be something like souvenir production , also nice gift because this coin will be from gold and silver.

Creative thought so. Anything that brings values, is really welcomed. Though the main focus would be business, the results are really more trendy and innovative. Every innovative thoughts should get its award by implementing and achieving the target worked for. I love to support you both in designing t-shirts and coins as well. Good luck.

I think you should start small, and take a stab at the t-shirt thing first. I would also suggest you do not distribute the t-shirt to everyone

that voted, but instead to the people who voted for it. Why would I want to pay for a t-shirt, when I did not vote for it? The t-shirt market

is a bit saturated, but there are still some market share left for the person that creates something new and innovative.  ;D

I can be wrong. But failed to hold up thinking about this post in my innerself.
Looks like the OP forgot about his knowledge gathering post.

We are continuously sharing views regarding on his asking.
But OP never bother to came back here at least once after his initial posting!

So many people voted for T-shirt store which is good as it is easier option for me.
Thanks everyone for your votes. I will get this done asap.

Hi
It's great to see you didn't  forget about the post. So I was wrong.
Anyway, wishing the best for your 1st bitcoin startup. And if you need any further help to tackling issue likes marketing or making clothes from 3rd world, do not bother asking here!

Thanks!

 My vote goes to a custom t-shirt website its good idea.

We're in support of your 3rd proposal. The first two are much larger, riskier ventures with greater competition in a crowded market.

 The 3rd is lower capital expenditure for yourself with more flexibility and creativity!

I think than among the options you presented creating custom t-shirt service is the safest/easiest thing to do.
BTW Op, are you still around? Can you update us with the status of your project, you noted any progress or you abandoned the idea completely?

There are many trading systems.
There are many loan sites.
If you are in the US,
T-shirt idea is nice.
You will carry out the business with cargo within the country.
But the cost of shipping overseas is more expensive than the price of the product.

I am back after vocations, i just found a custom tshirt website that accepts bitcoin called Bitwore.com
They are already doing the same thing which i was thinking of. :(

Open what you have knowledge of..
Since if you don't know shit about trading then isn't a good start...