Bitcoin Forum

Duplicate created by move

Good luck with creating this.

The UK is in desperate need of an exchange, although I'd like to bring a few things to question, which other people are bound to be thinking.

1) Price of IPO?

At that you are valuing the company at £200000? Do you think that is reasonable for something that hasn't even launched yet. I'd question whether other exchanges make as much as you have posted there. More facts on how you came to that figure and how you found data about profitability of other exchanges would really help your cause here.

2) Proof?

Anything at all, especially with regards to confirmation of UK high street bank.

3) Experience?

Do you have any experience at all in running exchanges. For example security etc?


Either way good luck in raising finance for this project.

Sure thing.

Price of IPO?

£200,000 seems like a beyond reasonable valuation considering the profitability of such an enterprise. If you browse the securities section you will see that our valuation is considerably lower than other projects which have less promise and less to show. This is the sort of investment that could make dividend ROI within weeks of launch.

Proof?

Not sure how we can prove a bank account. At this stage we're not willing to confirm who we are with, or give away any details that would help our competitors.

Needless to say, they know what the bank account is for, and they know how we will be running the business. This was not opened at the branch level so we should have no issues with the account staying open.

As for profitability of other exchanges, Bitstamp's 24 hour volume is currently 4860 BTC. Lets say their average user has done over $50,000 of volume this month (unlikely), that means a 0.3% fee on each side of the transaction. That means 0.6% of that volume is taken in fees. That is 29.16 BTC. And this is at a time when they have fairly low 24 hour volume, during periods of volatility it is far higher than this.

Experience?

No experience running an exchange, sorry. There aren't many people who do, except those currently running an exchange.

I have experience with security, and our primary advisor has several decades of banking experience.


Thank you.

Thanks for replying.

I know a lot of investors are going to be still very skeptical so consider this free consulting :)

There is really a lot of risk investing in such a project in my opinion, and given the bank co-operation, perhaps you should ask for a bank loan?

Just an idea as I doubt people are going to buy into this.

RCH

We've had a fair amount of interest so far.

Plus bank co-operation for an account, and bank co-operation for a loan are two separate things. Regardless I prefer to not get into any debt.

Anyhow thank you for the feedback, even if it isn't positive it is still appreciated none the less.

Good luck guys!

It shouldn't have come across a negative, rather constructive since it is what everyone else will be thinking. You may not be aware but re: proof, a lot of people have claimed to have connections with banks, and a lot of people have lied on this forum. I'm absolutely not saying that is the case with this project, but IF you had proof, it would go a long long way with potential investors.

I'm very hopeful that your project gets off the ground, since there is a real gap in the market and active demand for this... the question as with any market gap is why, and in the UK legislation/banks have been the issue up until now.

RCH

Hi RCH,

We will do a small second round of funding days prior to the launch, to give us a cushion for the monthly costs.

At that point we will give out more information about banking.

Best,

William Dunne

I may be interested in those 2400 shares.


PM me, I have an extensive marketing/sales background and I'm from the UK myself and may make a larger investment if you can offer me a role in the team. I have several marketing and branding things set up that were meant for Coinpal but they dont have an exchange, that's fairly obvious. There were 2 places available at fairly large conferences that would get you a fair amount of business/publicity as well as a few people who agreed to do some affiliate work (one will be even more keen seeing as he is in the UK as well). There is 1 conference position left I can probably secure you, if you can get this ready in time.


PM me if you want to talk about it, I need to know a little more about the business. I basically just planned out a whole marketing/branding and launch for an exchange, but they have no exchange and are ultimately scammers, if you provide proof and such to me - I will do the same for you - I reckon if you can offer me a part of the business, you will be a whole step closer to launching this.

PMd

Now also on colored coin.

Bump. Progress has been made, need more investment still.