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OK, the forum software is an important thing at the start. If it is the basis, then it is very important that you set it up well. For example, Bitcointalk plans to move out of SMF software to Epochtalk, but it is a very complex operation. As I know, BTTalk uses an older version of SMF software because of many customisations in the meantime. The regular update can make some mess here.
I am not sure whether it is crucial that your forum is well ranked if you haven't quality posters there. Key-value of the forum is the user database and the quality of discussion which is there. Even if you are the first result on the search, without useful content it does not worth much.
Paid for posting is a good way to bring some users there, but not guarantee success. An example is Cryptotalk (Yobit forum) where all posts are paid, but they are mostly meaningless posts and a bunch of spam. fatigue with pointless posts repulse users who want better discussion.
Niche about websites, blogs, forum promotions is already quite loaded, I am not sure how much scope is free there. Especially for brand new forum/community. Plus, I think written communication is not highly attractive anymore, probably you know that visual social networks like Instagram, TikTok had in expansion. So it will be hard to grow a new "text" community.
I guess you need to offer something new. Topics that are not enough represented in current forums or network groups.
that it wouldn't be if I just wanted to scare you, I suggest you try to build a dedicated discussion about NFT token/goods. this can be considered a relatively new trend, many people still do not understand best all the possibilities and essence of the non-fungible token.
it also connects some niches that you are interested in, has a big potential for your business and also for profit. I guess the potential profit is not uninteresting to you.
I agree, build a NFT forum is better for now. I am created a dedicated NFT forum, I am now looking for some moderators to help me grow the forum together, if anyone interested please do let me know thanks. |
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What do you mean by this?The platform will hold a part of lender's coins?The problem with security and protection against hacks remains.
I mean if the platform never hold any coins, then maybe it safer. All transaction is direct from lender wallet to borrower wallet. |
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So means if few of the borrowers do not make repayment, it will not become 100%. Meaning if 2 of out 10 borrowers not pay back, you still get back 80% of the investment (plus the interest)...
And if none of them pay, we'll get nothing [100% of our funds gone]... Why waste your time in building a system that doesn't guarantee the safety of your lender's assets, when you can just tackle those issues by simplifying everything... - Sometimes a simple/basic system is much better than a complicated system with underlying problems.Your right, why I need to suffer myself to think about difficult solutions... By the way, I just register a domain called lendmecoin.comA .COM is better, so I am thinking at the very beginning, just a simple and clean Marketplace for lenders/borrowers to post their Ad enough. For free, then I open for suggestion on how to improve and add on extra features on that. |
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You might want to check out yield.credit, it is more or less the lending platform developed with the same idea as yours albeit running on Ethereum. One of the things you could improve by looking at that platform is to reduce fees to make loan offers etc. I'm not sure how this could work with the Bitcoin chain though, probably you can do it on a 2nd layer or something similar if you truly want to achieve full decentralization where the blockchain holds all the details and secure the deal.
Thanks for the info, free token after borrower repayment, sound a good idea man... And if in future the token listed in exchange then the borrowers will get free coins too. But after I read their medium post, it inspire me on another way of lending. What should I call it, not sure is that anyone in the market doing it right now. Maybe it is a stupid idea, but just open for discussion. Lets call it Pool Lending!How it works?Very similar to Yield and many other lending platform, lenders put their funds/coins in a pool, there will be various of pool with different coins, interest rate and repayment period (higher interest rate = higher risk here) So borrowers with different levels can lend different pool, Eg. a newbie borrower can only loan Level 1 pool which is higher interest rate and shorter repayment period. When borrower make all repayment on time, then it will be upgraded to level 2 then only he/she can loan Level 2 pool which is lower interest rate and longer repayment period. Let say there is 5 levels of pool, level 1 will be highest risk and level 5 will be lowest risk. Level 1 interest rate will be highest and level 5 is lowest. Lenders are free to choose which level to lend. Once the pool is full no more lending is allowed. Then borrowers can start to receive the coins. Benefit of this is that the lending and repayment done by a group of lenders and borrowers. So means if few of the borrowers do not make repayment, it will not become 100%. Meaning if 2 of out 10 borrowers not pay back, you still get back 80% of the investment (plus the interest)... This is one way, another way is that to combine the high risk borrowers and the lower risk one. So that the risk can be leverage down. How about that? |
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Get rid of the no collateral part, if you offer this to people on the other side of the globe with just an ID and papers then you can't really check to see if they are not faked so you can be sure you're going bankrupt in a few months. People are tricking banks for loans, an online platform will be easypie.
Btcjam...  Your right, I found some negative comments when Google BTCJam: https://99bitcoins.com/btcjam-investment-went-bust/And when I try to visit BTCJam.com, it is not reachable. Not sure is the web site is dead or what. Again you're focusing your energy on how to charge members/users before you've passed the first fence and that is why should people use your platform! You need to be appealing to borrowers and at the same time offer lenders some real income to risk their coins, you have to get clients first, then you can charge them if you will be tossing a $100 membership fee around but for them, there is no way to gain more than that nobody will buy it.
Rogue that, you ring my bell, okie I will try to help lenders & borrowers first before think about revenue. And I am pretty sure if I can solve their problems sure they will happy to pay for it. The net is full of those, what would your platform offer to make it stand in that crowd, especially since it will be a new one so there will be the trust issue?
As the idea is being started in Bitcointalk, so I think to let members here to try this service at the first phase. And those already have good lending history here will be given good rating and approval to use my new platform. This mean New Registration is not open at the first stage, all wanted to use the platform will need to go through me and I will manually register and approve the profile. And the advertisement will not be shown publicly. Something like Beta version. As Bitcointalk already have Lending thread for lender/borrower to deal each other, so my new platform need to have more functions like Rating/Comment/Blacklist etc to improve what is missing or require. |
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Hi all,
Thanks all for the reply, my purpose of this post is actually to see how people (or potential users/customers) reaction before I really go and built it. And I found it is so negative so I decided not to do it.
However, I did some reading on the posts in Bitcointalk forum and I found another opportunity!
Moved the content to the top.
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Hi all,
I have updated the post with a new idea called P2P lending platform.
I found some posts here whereby members lending crypto coins (Eg. bitcoin, ETH or USDT) to others and received payback with interest up to 0.1% per day, which is up to 3% per month. And they are many members need to lend the coins too.
Then I go and search, I found coinlend.org where it is a platform provide Auto Bot Lending service from exchange like Bitfinex or Poloniex.
I try to search a P2P platform project here but so far I didn't found any (please reply and tell me if you saw it here before)
So, forget about the BitcoinHouse, how about a P2P lending platform that allow lenders to lend their coins to others.
And borrowers which can get the coins instantly (with or without collateral), repay the interest later.
Interest and repayment period is set by lender with multiple options:
Example:
1) Min lending amount: 0.01BTC, Max lending amount 1BTC, Min repayment period: 3 days, Max repayment period, 30 days, Interest Rate: 0.1/day
2) Min lending amount: 0.1ETH, Max lending amount 10ETH, Min repayment period: 10 days, Max repayment period, 60 days, Interest Rate: 0.08/day
Both lenders and borrowers can post the advertisements and accept the offers.
Like what forum suggested and what I think of, I think in order to get people to use the platform, it must be can protect the lenders and borrowers.
For lenders:
1) To protect lender coins (so collateral may become necessary or a MUST), and it must be sufficient enough to cover the coin value.
2) Platform WILL NOT hold all lender's coin, this is to avoid wallets that stored in the server being hacked by somebody and all coins gone.
3) Automate the lending process, once any borrowers interested to loan from you, the system will notify you by email. You just need to click login to our system and check for the offer, then proceed to transfer the coins to the borrower.
4) All lending history will be stored and the if same borrower would like to loan again, he/she can direct make offer to you.
For borrowers:
1) No KYC is required, but you will need to have some coins for collateral purpose.
2) Your free to choose the lowest interest rate lender's offer.
3) If you pay the repayment on time, you will get good rating and you will get lower interest rate than others.
For security purpose, email sent to both lender & borrower will have a secret phase (could be a text or a photo and it will be changed every 3-6 months). So when you receive an email pretending as us but it doen't show the secret phase or invalid secret phase, please do not click any link in the email or login or transfer any coins!!!
This platform act like a marketplace where lenders and borrowers can post the advertisement about lending/loan of the crypto currency Eg. Bitcoin. Registration is required of course in order to post the advertisement, as it is a totally NEW platform, then profile filtering is very IMPORTANT. So at the very beginning, I will manually verify and approve the registration and every advertisement to avoid SPAM.
Members from Bitcointalk forum will be given higher and quicker priority for verification. And those already have transactions here it will give more trust to my new platform.
Any other suggestion?
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