Bitcoin Forum

I am currently a newbie in the crypto world.  However, I run several successful companies.  One of which is a company which grows completely on referrals.  If you refer someone to the company, you receive a fixed cash bonus every month they are subscribed.  It's only ONE LEVEL down.  So you only earn from your direct referrals.  Rather than simply giving cash, we were thinking about offering a 'token'.  The value of which can change depending on the growth of the company.

It offers our customers a chance to actually get more value out of their cash and also can be lucrative for investors on an ICO.

Does this make sense?

Any thoughts?

Thank you in advance :-) :D

So you are basically looking to implement a blockchain and or token in your company rather than doing it through cash? What sort of benefits would investors gain from this as I can't really see any reason for an ICO. You should consider telling us more regarding the companies that you are running so we may get a better sense of what it actually all means.

Twice in the last couple days ICO's have been hacked and tens of millions of $USD worth have been stolen. It would have been ~$200,000,000 stolen if white hats had not stepped in. Just something to be aware of amidst the irrational hype of the ICO craze.


See: https://www.reddit.com/r/ethereum/

I believe that this has mainly affected the etherium chain and tokens issued on it, right? There are other options if you simply want a token that you can distribute without building it all from scratch (you still have to do something if you wan't a decent token). Although I have to say that personally, this hack was pretty dumb. Not made by pros.

We are launching a new branch of our existing telecoms company which is MOBILE NETWORK, SIM ONLY deal.  It costs $45 a month and you get unlimited everything.  If you refer someone to the service, your receive $15 every month they are subscribed.  Meaning THREE referrals will essentially wipe out your line rental.  You will still need to redeem your earnings for cash and then pay your bill off or for whatever you want.  If we could implement tokens instead of cash, I can see people becoming more active to refer people so they can redeem tokens which may be worth for than just $15.

The crowd which we have attracted are the type to refer and are looking for new ways to produce income. 

The company grows without any marketing and is providing an every day product which we all use.

We are experts in telecoms and have a big customer base.  The crypto side is something which we wish to use to raise funds to pump growth and ops.


Hope this helps.....??

That does not help at all. Great that you explained what it is you do but still the question remains: Why would I as an investor look at your ICO and think "They are on to something here, I better invest now"? Nothing you have said have made me more confident going towards such a judgement.

How will you determine the value per token? How will the token distribution to the people working for you work when the price can fluctuate? How will I as an investor in the token only see any benefir and possible economic growth? You have not showed any signs of answering those questions and I urge you to do so asap.

Thank you.   The questions you have posed are things which my team and I need to work on.   

I suppose as an investor, the value will increase as each new customer signs up to our offer. 

But....like I said, we're thinking of new ways to take the business further.  It's currently turning over around half a mil.  We're eager to double it lol.


If there is anything which I should consider, it would be greatly appreciated  :D :D


O

Sounds good that you'll go it over with your team but honestly it does not seem like you know what it means to launch such a token or what it means to launch an ICO.

You say that the value will increase as each new customer signs up, but that does not make sense as you will only pay the guy who refered this user. There's no real value for the token itself and such most likely a bad investment from an investors point of view.

As it stands the ICO market is used to get money for nothing. You can try having a go at it but you should be warned: even without crypto regulation I suspect a number of laws are being broken left right and center in both US and EU (I don't have a clue about other regions). You should seek specialist legal advice. I suspect that kind of expertise is hard to come by and should you find it, very expensive.

What goals do you pursue?

well right now, our model only accepts payments (monthly line rental fee) from members from cash and allows members to redeem any referral earnings as cash only.  I feel like we are a missing a trick? Especially as many of our members are eager to learn more about crypto etc.

With more funds, we will be able to scale the business.  Due to the amount of transcactions happening in both directions, it's something which I think (with the right plan and vision) will really benefit investors and users.

If you have a great business that works then why the need for an ICO? ICOs are not only vehicles for scamming, It will also put your business at risk because ICOs are not legal.

Be happy with your business and continue working hard.

the customs with the blockchain system as regulating finance with the cryptocurrency, as those might on use of the distributor decision on delivering message,
the nature on open witnessing audiencies with the records of users transaction on return as closing with the terms of colateral business with the different partisan of service
improves with the shifts as the notice to gives of reference as the validity on arrange between timelines as being on field,
to confirms as future users on connectivity to defines of the decision.

Talking about real money (500.000$) like talking  about a bag of chips.

Good luck with building the scam.

if your business model works why do you want to run an ICO and divide your earnings with other people?
Can't you just keep all of them for you?

My thoughts are, it sounds like you are allready running pyramid schemes, and as most ICO's (90%) are pyramid schemes, your project would likely clash combining the two.

First not every single service and businesses needs an ICO, second don’t get me wrong but every time I see a business that is based on referrals I think that might be some kind of pyramid scheme, you can try to use your tokens but don’t be surprised if it has the opposite effect as people quit because instead of receiving cash that they can spend anywhere now receive a token that no one wants.

Both of those ICOs were run by the same scam promotion company. I bet they built their sites with the same vulnerability.

It means you are going to start a news business which is same as is in your practical life .
Here in my life I seen many companies that enters in the market and run away .
Here is a big thing in the Market that if you can't make money from sub refral then you can't make big earnings , so rarely person will join such type of mlm network .
And also here you are saying the company ( where fiat is replaced by the cryptocurrency ) and people or members can make only by direct referral , so I don't think we can make big and also people will not get attract toward such types of the plan .
So.it will be more better if you can start a company where everyone can make earnings by sub level refral also .

Maybe the token could have some features involved in the business, like for example give to the holder a part of the earnings or it could maybe part of the referral network, the people who buys your contracts are not the majority so maybe with the token you can open the business to other parts of the population before unreached?

Excuse me.  I am not looking at anything.  I am simply exploring.  How dare you say I am building a scam. 

Yeah I am talking about real money like a bag of "chips".  Is there a problem with me mentioning that?

What a negative soul you are.

I may be negative but I am not building a scam.

Big difference huh?

Yeah good idea. The bottom line is want investors and users to get something 'better than money'.   

The technology we have designed is all cloud based, so as long as they have an IP, they can subscribe to us. :-)

You can buy everything (legal) with money, don't let anyone tell you anything else.

You want sell some home business for etherum,i can have ten's of that kind businesses,all dead
Next newbie collection

That's really good.  well done!  all the best.

Why would need ICO on this one? Simply im thinking that its somehow like MLM which you would need to join up another people just to make the network big. Its senseless and interest would really be less because theres no use on actual world or any innovations but only focusing on creating a network or community which would use that coin. Whats the main purpose??

Your business is growing, you are a newbie in the crypto world but the first thing you want to contribute is raising ICOs, that's very good to those who are ICOs freak. For me, I think having a sound plan is a way to go with which in this case, I don't see anything new in your project since it has been running successfully already but I tell you ICOs is not cheap no matter how simple others might try to paint it and also be ready for tasking investigative done on you and be ready if you are cut for this.

Thanks for the feedback.  I will take that on board :-)

Making an ICO now is more about advertising and work with community then the idea or business itself.
Making an ICO requires a team of minimum 5 people with good skills.
If an ICO isn't advertised propely it won't get a lot and there would be no token growth for investors too.

It would really be required to have a team and running it alone would really be tough and as you said if its not been advertised it properly then it would be still useless.  Reading  on the plan of this project i can say that its just a team building without any strong purposes.

Love the ferrari ico haha

First and for most you have to make sure that you know what you are about to enter, second is to you have a team than helps you with your business and lastly are you sure you are not one of those people who only wants to run and ICO to scam people? I don't want to be negative but lets face it there are plenty of people who does this kind of scheme and easiest way to be rich now a days. But if your intention is really good and you are serious with your business then try contacting people who have tried running ICO and ask some advice from them.

Offering an ico might be good for both investors and you (always good for you) and just calculate everything you need and put a hardcap like 250k or 1M no need for extreme amount of money.

sure, that sounds reasonable.   

Can you please elaborate more on what great idea do you have?  ;)

OK. I beg to clarify one point:
Do you offer a service to attract customers to my business, or do you have your own business?
For example, I have an affiliate link, here it is:
EverumCasino (https://art.everumpartners.eu/clicks?btag=a_261b_1l_1)
How can you help me attract customers and what will be the price for your work?

I don't see future in such project that run normally and pretty well with fiat money and don't they to use the blockchain to work or there are no benefits if they use it.