Anyone want to start a "Get Rich Slow" scheme?

The idea of HOC (at least the way I understood it) was very good, and I firmly believe that someone will eventually take the lessons learned from HOC and move them forward in a venture with a true possibility for success.  There were definitely some problems with HOC that could easily be avoided in the next attempt. 

HOC was too loosely defined when we bought into the idea and as such we all bought in with our own ideas in mind as to what HOC really was.  Unfortunately, this meant that there were many different factions all believing that their definition of HOC was the correct one and could not understand why others seemed to be spending time on needless activities instead of focusing on the things that needed to be done.  It took some time before it dawned on me that there appeared to many of us that we were not ever getting started while to others it appeared that too many were not on board with the plan they were trying to execute.

Although there were far more than two differing opinions as to what exactly HOC even was,  I believe on a base level we could be broken into 2 separate camps...


(1.) Those that believed that HOC is mostly about the coin and that any resulting business would have to arise from a highly valued HOC price.

     These people wanted to create a media buzz through promotion of the coin to attract additional investors and then possibly build a business if successful in creating a high price, They did not understand why there was so much talk about business projects instead of first focusing on ways to promote the coin.

(2.) Those that believed that HOC was mostly about the business and that the HOC price would be driven by the success and/or failure of the business.
   
     These people wanted to create a successful organization that would attract investors by demonstrating that they had a sound business model in place and drive the price of the coin by creating a desire to buy into part ownership of a successful organization. They did not understand why people were placing so much focus on promoting the coin instead of creating the base from which to drive the future price of the coin.

At this point, I believe we can all agree that the plan outlined in the first camp had completely run it's course and did not succeed.  I believe that many of the smaller investors who were part of the first camp had already dumped and ran.  I also believe based upon some the posts that the initial management positions of HOC were all occupied by the folks who had always been in the first camp which is why the folks in camp 2 felt so completly alone and frustrated.   


In case you hadn't guessed, I was firmly in camp 2 and had from the start been somewhat in awe of the possibilities that could be harnessed by bringing so many talented people together, each with their own unique specialties working towards the creation of a wildly successful organization. 

If anyone ever starts this type of venture with a clearer vision of what the end game looks like and is completely upfront about the fact that we would be creating a business first and that the coin is secondary to the business I believe they could probably get the correct people (with a common goal) on board to begin with.  It would also be good if the basic framework for an original company charter/constitution were already defined and posted describing the basic guidelines the company was going to operate under the day after the IPO release.  Having a working voting system and date and time of the initial scheduled meeting(s) to discuss and vote on the original agenda items would also be useful to ensure that the momentum was not lost during the confusion of nobody having a clue where to even begin following the IPO release.  Providing the initial structure that everyone who invests agrees too from the beginning would allow things to get started right away.

I am probably not that person, but if anyone with better leadership and/or organizational qualities wants to take a chance at starting this type of venture off the correct way please let me know as I would like to be a part of it.

I am very confident that this idea will eventually be successful if everyone goes into it with the understanding that what we have is simply an idea with a relativly small initial investment that will take quite a lot of time, planning, volunteer effort, and reinvestment of initial profits before it can get off the ground and generate any meaningful returns for any of the investors.  I do however believe that we could send the price of of the coin up in the short term if we could only demonstrate that we have a firm foundation and a workable plan for moving forward.  In the longer term, I would look for payoffs both in the income produced by the business as well as a wildly higher coin price stemming from the success of the organization.  Yes I do envision riches, but in my vision that comes a few years down the road and is much more sustainable over the long term.

So you ask, knowing what I know now would I ever invest in this type of venture again with a bunch of people I have never even met?

Hell YES!!

I would however want ensure that there were some guiding principals in place first.

Hopefully as more and more exchanges become active and/or gain a bigger market share, attacks against a single entity will no longer be effective in driving the price one way or the other in sufficient enough amounts to make the effort pay off for the attacker.

In the meantime hang on tight, it is going to be a wild ride as long as MtGox controls 80% of the transactions.

Hopefully as more and more exchanges become active, attacks against a single entity will no longer be effective in driving the price one way or the other in sufficient enough amounts to make the effort pay off for the attacker. 

In the meantime hang on tight, it is going to be a wild ride as long as MtGox controls 80% of the transactions.

Why do you not want to be linked to your previous identity?  Are you running from something?

Quite impressive.  I will need to begin your courses at a later date however since it is was already past my bedtime when I read this post and there looks to be a lot of hours to view.  Thanks for your efforts in training up the newbies.

Don't quit BitCoin, just refuse to take PayPal as a payment since it is just too easy for a scammer to hide behind PayPal knowing that all they have to do is file a claim with PayPal to get a full refund after you have already sent the BitCoin.  PayPal will always side with the buyer even when the seller has incontrovertible proof.

With any luck, we can eventually drive the corrupt PayPal out of business with the success of BitCoin.

Very nice.  Do you plan on adding additional exchanges in the future?

I use BTC-e along with several other exchanges to keep everything spread out in case any one of them becomes corrupt or all "GOXed" up when you really need to trade.  I do like the many different options for Alt Coins and other currencies available on BTC-e.

I believe that the number of alternatives will increase dramatically over the next few years due to the popularity of the all of the Alt. Coins and the absolutely abysmal record that MtGox is creating by being sooooo unstable.

Well "Hell there" to you too.

Thanks for making me laugh.

I am interested in this as well and have done a fair amount of searching, but have only found indications/rumors that many of the exchanges are planning to offer it.  I am sure that it will happen sometime soon since there is a big demand for it and if easier methods for deposits/withdrawals is introduced the alternative currency market would become Hugh overnight.  Make it profitable and someone will build it.

Hello fellow newbies.  Just posting and counting down the hours until I become a real live person.