Don't take it personally, kid. He obviously had a bad experience or 10 and now feels the need to call everything bullshit (without bothering to check it out).

Funny, I just went through that thread.  No wonder the guy went broke is having trouble paying back his investors. You can't make a viable business paying out 70% to your contractors.  Oh well, I wish him and his investors well.

Edit:

I've read even further. Now THAT's funny. People invested 25 BTC to set up A STUDIO on Chaturbate?  Here I thought he was building a cam site, as we are.  At least I know how he was planning to pay out 70% to the contractors.

$1 paid by customer
| \- $0.45 kept by cam site
|--  $0.38 to contrator / model
|--  $0.085 to MRKYLE
\--  $0.085 to investors

Hmm, which piece of the pie looks more appealing?

Nah, let's just play dice.

OK, I've had enough lols for one day. Back to work.

Thanks to all, we've reached our funding goal.  No, not on here - in the real world.

Zoznoz, you're obviously an intelligent person, so I feel the need to reply to your last post.

Perhaps I didn't make myself clear. I had no intention _ever_ of remaining anonymous to potential investors. I _did_ insist on remaining anonymous on this forum, for what I consider to be obvious reasons.  

Potential investors did, as you described, receive detailed financials and the complete business plan. I'm surprised that I should be expected to detail such confidential information out in this forum.  Maybe I'll post it on craigstlist next time? 

The two Skype calls I had scheduled from members of this forum both flaked out.  While I'm sure there are some good people on here (and I'd like to think you're one of them), the vast majority are well, not my kind of people, to put it politely.

People like leen93, as a recent example  

Best,
Rosa

Who said I wasn't putting any of my own money into this?  So far I've put 100% into it.  Anyway, thanks for your input, I do believe the round will be filled by the end of the weekend.

Rosa

I'm sorry you people have been scammed so many times in the past. It has obviously prejudiced you against legitimate opportunities.  It's very interesting to note that none of the Skype calls I've arranged as a result of this thread, NONE have been from the accusers.

I wish you well - I do believe my funding will be in place this weekend.  Thanks again for your time, and while I encourage you to keep your wits about you, this needless bashing has stopped you from critically evaluating the opportunity.  Or perhaps it was just too big for you, so you felt the need to be a keyboard warrior.  Whichever, I'll have my funding, and you can go back to microloan hell.

Take care, one and all.

Thanks for actually reading - it seems to be a scarce quality around these parts.


1. No, adult-related merchant accounts such as CCBill, charging 12-15%, exist and are used by the adult industry successfully, including cam sites. Their large discount rate reflects the risk (or so they say).  Bitcoin transactions are of course our long term focus, as the chargeback rate for that is, well, zero, and the discount rate is also effectively zero.
2. We have a site in development using the most modern technologies possible - NodeJS etc etc.  I've been involved with the Internet industry in one form or another since the middle of the 90s.  I know what works. Edit: we have a decent domain name for the niche, too.
3. Yes, actually, I've been involved in the cam business for 6 years.  Do I have 100 models? No, not this week.  But I don't have zero. And, of course, our business plan is focused on getting models to the site, and keeping them there while volume ramps up.
4. Actually, I do.  I have a couple of mailing lists with an aggregate of ~20k subscribers who are VERY interested in the niche. I also have sites with 700k+ page views / mo on which I can advertise at zero cost, and several others in the same niche on which I can place advertisements inexpensively.  Please see my OP.


No, not blindly. I'm asking for a Skype call. Please reread my OP and replies.  Obviously you know Chaturbate, and how they rose quickly. To say their recruitment policies were "inspirational" in our business plan preparation would be very accurate.  As I write this, there are well over a thousand models on Chaturbate.  

There is craigslist in the major cities of the niche I target - I'm happy to pay you a similar commission.


Well, I don't live in the US, the servers will never be in the US, and the company is not incorporated in the US.  If you dislike the term Guarantee, why not think of it like a dividend. Are dividends guaranteed? Is the word accurate? If our investors look at our cashflow projections, they will check to see if we can afford to pay 5% quarterly.  We believe we can, and that by month 4, we will not have to top up our distributions to match the "stated minimum dividend", if that's your preferred terminology.

It is of course your right not to believe.


Two things here.

1. The cost of the software development does not account for anywhere NEAR the 250BTC asked.  If you know how Chaturbate gained AND KEPT its models at the beginning, you will understand why we need a large float.   Nobody wants to visit a site without models, and no models want to hang out on a site without customers.  The pump, as they say, must be primed.

2. If you expect a site built with turnkey software to do well, well, you've either been hanging out on flippa.com too long, or you just don't know. Videowhisper is good for what it is.  But name one top cam site which uses it or any other turnkey script.  My developer is building the site using Meteor, and yes, of course it's rough - it's still in development.


You can not run a cam site pushing several Gigabits per second on a single server worth a couple of grand.  As I said earlier, I've been in the internet business since before Internet Explorer. I know how to build systems that work at scale.

Edit: While we won't need anything this complex to begin, this is what you can expect to grow into as you increase scale.

http://highscalability.com/blog/2010/3/16/justintvs-live-video-broadcasting-architecture.html


Nope, as I mentioned previously, we built a gaming site last year, and this was to be the announcement account for it.  If you'd like to run an instant bet gaming site based on rock paper scissors, let me know. I no longer have any wish to be a part of the illegitimate gaming "industry".   My apologies if you would have preferred me to make a new account.


Thanks for this, by the way.  Presenting and defending actually helps solidify the pitch.  I'm meeting with a couple of real world investors this afternoon, and this has really helped.

Zoznoz, thanks for coming down to a more reasonable place.  

Obviously I'm not going to divulge the entire business plan on an open forum, nor would I expect anyone to invest without vetting the business plan and vetting me personally. The OP is simply the elevator pitch.  26% guarantee for 3 years, estimated IRR 50%+.

Anyone who finds it interesting should contact me directly, and most certainly should do their due diligence. I've built a million dollar company before, and this time I'd prefer to aim a little higher.

Take care,
Rosa

I forgot to address your "nothing to stop you from running off with the money" point - in my OP, I believe I mentioned that as a debt deal, the investment would be secured by the assets of the company - in other words, debt investors come before equity owners.  The goal is to build a business here.  Anyone who doesn't believe the business will be successful should _NOT_ put a penny into it, either in debt or equity (and I've put about 40k in already getting the business to this point.)  And anyone from a first world country who would run off with $93k is a really short-sighted moron.  That's what? 18 months of living expenses?  If I'm going to be running off with money, it's going to be for millions - enough that I could run. Forever.  $93k might be enough to do so in India.  I assure you, it's not enough here.

Lastly, to assess the risk of default, consider this: If the business works as planned, how much do you think the equity partners will earn?  Significantly more than $93k, I assure you.  Run away with 250 bitcoins, or build something worth a few million?  The choice, to me, is obvious.

A kind thank you to Zoznoz and the "bitcoin police", for your constructive criticism. I can only assume that your unfounded attack is an attempt to get me to show my true colors. So allow me the podium for a couple of minutes....

Other than the size of the ask - real money, for a real business, with real profits - could you elaborate on why you call this a 100 % Scam?  Does real money scare you?  Or are you stuck in microloan purgatory?  As I mentioned in the OP, I'm fully verifiable and have no problem justifying both myself, and the business. I would suggest that just because it's outside your comfort zone that you cut down on the hyperbole. There's money in cams, but it takes money to get started. 

Re Just Dice - As I said - this is not a gambling site.  Just Dice, as an unregulated gambling site was always operating in a legal grey zone.  We built a gambling site last year, but didn't launch it for precisely this reason.  Adult sites are legitimate, and cam sites are the best adult business model - I know - I've been at this for 6 years now.

Luckily, there are a few _real_ investors on this board. Thank you for your PMs, and I look forward to our Skype calls tomorrow.  To the naysayers, I'm happy to have a Skype call with you too. Unless you want to hide behind your big bold red letters.

Sincerely,

Mr. SCAM/RETARD.

Funding received, thanks.

Hello. If you are looking for a secure place to invest your bitcoins while waiting for prices to rebound, allow me to present to you this Bitcoin-based income sharing opportunity.

The Details:
Max to be Raised:         250 BTC

Term:                             3 Years
Income Share:            10% GROSS from all Bitcoin-denominated sales.

Guarantee:            1.6% monthly (21% APR) or
                               6% quarterly (26% APR)
                               (guarantee waived for first 3 months)

Estimated payout         (based on Bitcoin sales at 10%)
   Year 1:             57.45 BTC / 23% ROI
   Year 2:            163.94 BTC / 66% ROI
   Year 3:            270.28 BTC / 108% ROI
   Total:             491.67 BTC / 197% ROI

   IRR:               53.7%

Minimum Investment:      Based on investor interest. We prefer the smallest number of investors possible.
Early Redemption:       by negotiation.

Payout frequency:       Instant upon customer purchase, automatic. Guarantee top-ups made at the end of the period if necessary.

At Maturity:         Full repayment of capital.

The Business: 
   We are developing a niche webcam chat site for an underserved yet hungry market. Think MyFreeCams, LiveJasmin, or Chaturbate but with an ethnic focus.  The business model is simple - customers purchase "credits" with either bitcoins or a credit card, and then spend those credits with webcam models. This can be in the form of tips, private one-on-one sessions, or in limited group performances.  In the latter two cases, customers use tokens like a debit account, and when they spend all of their credits, they must purchase more if they wish to continue.

   The use of credit cards for adult purchases is very expensive to the merchant - in most cases, 12-15% of sales is paid as merchant fees.  For that reason, we are prioritizing bitcoin payments.  The clients will receive additional credits for purchases made by bitcoin.  Please note - we will still be accepting credit cards!  It would be economic suicide at this point to go bitcoin only.

   Models receive 50-60% of the cost of the credits, and are paid twice monthly.  Again, the traditional channels for paying models is expensive, and we will be prioritizing payouts via the bitcoin network.  We will provide easy instructions for models on how to receive bitcoins and convert them to their local currency.

The Niche and Competition:
   We estimate there are currently about 2500 models in our niche, generating $3-$5 million per month in fees. There are two operators who specialize in our niche, both with outdated java-based systems.  In addition, a limited number of models work on the general websites, which are technologically much more advanced.

   Over three years, we plan scale up to approximately 30% of the existing market.  As the market is extendable, we don't anticipate we will impact the business of any existing operator to the point that they will feel the need to react to our entry.

Use of Funds:
   The funds will be used to complete development, for working capital, and to establish a model payout buffer account. Models are the lifeblood of the operation, and they must be paid on time, every time.

        The guarantee is made by the corporation, and as a standard debt deal, will be secured by all assets of the corporation.

The Team:
   - 6 years of experience in the niche.
   - Direct access to our target market with 20k + email list, 700k+ impressions / mo for display advertising.
   - 2 years of experience in bitcoin-related businesses.

   You will have direct access to the owners, and if you choose to make yourself known to us, we will give you our personal information and references too.  Due to the nature of the business, it isn't prudent to publish our personal information, but for investors, it's not a problem at all. You are investing in a legitimate though controversial business, with exceptional profit potential and global appeal.

Why invest in Adult?

1: It's not mining   Unlike mining, where ever-increasing capital is deployed to fight over the same reward blocks, Adult is expanding.

2: It's not gambling   We built a game last year, but never launched it because bitcoin gaming is in our opinion saturated.  Bitcoin Gaming is always going to be limited to bitcoin users only, and any successful game will always be operating at the fringes of the law.

3: The use of Bitcoin in Adult is increasing.  Some have pegged estimates at 15% of sales, some higher, some lower.  We have built our projections at 10%. At a minimum, we will guarantee the return above, either monthly or quarterly, your choice.

4: It's recession resistant.  No matter how bad the economy gets, there will always be lonely people who need to satisfy their needs.

Why Cams?

1: Cams are the evolution of online adult entertainment.  Unlike standard adult sites, where content is non-interactive, piracy is rampant.  While you can record a webcam show and share it, the true value is in its interactivity, which can not be replicated.

2: Cams are the best kind of adult site for use with bitcoin.  It's not subscription based, and does not depend on rebilling. 

Legality:

Webcam services are fully legal in the country of our incorporation and operation. The legality of being a webcam model varies from country to country. Upon registration, the models agree to indemnify us from their activities.

All models must supply government photo identification proving their date of birth.  We will have a team monitoring the website at all times to ensure no illegal activities occur, and to ensure no minors ever appear on camera. We take enforcement of these basic rules very seriously.

Expressions of Interest

If you would like to discuss the opportunity further, please send a PM, with your Skype address and the number (roughly) of bitcoins you would be interested in investing into the opportunity.  As mentioned above, we prefer to work with as few investors as possible, to keep things manageable.

Brokers protected.

Thank you for your time.

Isn't Thailand the country which made Bitcoins illegal?

Why on earth start a bitcoin exchange there? More importantly for its users, why would you trust such an exchange?

Other than the fact that they're American (with all the NSA spying that potentially entails), they seem to be well-run - one of the best of the bunch.

Have a long talk with your chosen deity. The chances of getting your money back are slim. 

Well, banks have this little thing called insurance. In the US it's called FDIC, and your account at a bank is insured for up to $250k.  Who guarantees the deposits at this ponzi thing? Nobody.

Yes, there is fractional reserve. No, it's not the same as a ponzi.


OH how I wish the HYIP/Ponzi crew never heard of Bitcoin.

Why take the risk?  There are plenty of well connected countries with less draconian laws. Costa Rica as mentioned above is an excellent choice for gambling sites but bandwidth is limited and expensive. So the best option IMHO is to run the website somewhere onshore but do all bet calculations in CR.

Come on, the answer is simple - Crypto's real name is whatever the Havelock guy's name is, which is the same as whatever the virtex guy is. Same guy, just being intentionally vague and pretending to be some newb.

<speculation only, but seems the most likely conclusion>

I mine for Jesus!

(just kiddin')

There are always new games in the works.  How much marketing did SD actually do? 

Very interesting.  No proof, but highly circumstantial. Time will tell.  Great, now I have to figure out the abc conjecture.

FREEDOM!!!!!  Thanks all.