Todays btc:usd range was 2.85 - 3.14999, or $0.29999. If you took an order at $3.14999 @ $0.08c profit (your original 1c profit + the 7c price increase) and didn't cash out until 2.85, you would be down by $0.21999 making a loss of 31%. Some days the range can be even wider.  

I'd aim for at least a 50% profit margin in this environment. It's much higher than you would ideally like to charge, but it will ensure your business does not suffer any losses without having to hedge your earnings carefully by speculating on the price. It will give you time to cash out the fiat and still have some bitcoin profit left to pay to shareholders.

Most people are willing to pay the premium for well operated services that can be paid for in bitcoin. It helps them to reduce their own risk by paying for as many of their costs in bitcoin as they can. If you run a reliable business, you will get eager clients even if the price is slightly higher.

You should definitely increase the price. You are only making about a 1.5% profit on the biggest plan, that is not nearly enough. Unless you cash out the bitcoin instantly, you will be dealing with costs more volatile than your profit margin can withstand. If the value of btc drops by 1.5% while you are holding it, your profit is immediately wiped out, any further you will be going into the red. And a 1.5% drop is nothing in the bitcoin markets.

How much does the on-demand rental cost you? And how much profit in btc are you making on each rental once you have paid your fiat costs? Is the price of the rental linked to the btc:usd exchange rate, or do you charge a fixed flat rate?

A breakdown of your expenses such as the btc required to cover your fiat and non-fiat expenses, as well as you growth estimates/earnings projections would be helpful too.

Keep up the good work mate!

Thanks for the draft payb.tc. Looking good! Could you fill the background with the same color as the original logo so I can visualize how it will look in situ? Also, maybe add a drop shadow on the text with some text outline. Good work!

I'm offering a 4 btc bounty for a new logo for BitCoinTorrentz.com.

I'm rubbish at this sort of thing, and want something kind of web-2.0 looking, that fits in with the current style of the site - which admittedly looks rather non web-2.0. LOL. Draw on bitcoin and bittorrent related themes. It's not much to go on, I know - thats why I'm paying for someone else's creativity

The current logo is:



Dimensions: 324 × 69 px.
The height has to be 69px but there is some give on the width.
Preferably around the 300-350px range, but smaller width's are acceptable if you can make it look good.

I need an adobe photoshop image file, or any other vector format that photoshop can open, with all the objects and layers intact (i.e. not flattened).

Please post draft png/jpg's here along with your bitcoin address, or PM me in private.
Feel free to watermark the drafts if you like, fill the background with the same shade of green in the logo above for ease of comparison.

I will send payment of 4btc to the creator of the logo of my choosing, in return for:
1) the photoshop file
2) an unwatermarked png rendering with height 69px
3) any custom fonts you used in the draft

I will probably wait for a few submissions before I decide, but I may decide early if I am drawn to a particular logo.
Just want to add also that I reserve the right not to pick any if I do not find one appropriate for the site.

Thanks a lot

This seems like a good business. We need more dedicated hosting options payable in bitcoin.

I think you are making it more difficult than is necessary for people to invest though.
You should have put more effort in at the start at getting the GLBSE contract right as it cannot be subsequently modified.

• You are saying that 100% will be paid, but unfortunately, that will not be binding as you have stated 50% in the contract.
• I think there might be a contradiction in there too. You first say that the profits earned by the organization are the property of the shareholders, but then go on to say that only 50% of the profits will be paid out, leaving 50% retained earnings. That means that only 50% of the profit of the company is the property of the shareholders, the other 50% is retained earnings - i.e the property of the company. I'm not sure, but does that not invalidate the first statement?
• You said that dividends would be paid quarterly in the contact, but go on to say in this thread that they will be paid monthly. Again, not that it is of massive significance but just pointing out that it is not a binding agreement.
• Despite what it says in the contract, there doesn't seem to be a link to any bylaws for the company. So it's stuck like that and cannot be amended.

I want to invest in this company, but I probably would not buy any of these certificates. Not that I don't trust you to keep your word, but the contract really has to be rock solid if you want to attract legitimate investors. You should probably redo it then list up a new contract.

I'll second all of Peter's questions and ask a few of my own:

1. What are the upload and download speeds of your network? Do you have any files we can test with?
2. What do you forsee people using these servers for?
3. How much do you charge for monthly plans?
4. How do you handle private data remaining on the server when the contracts expire?
5. Are there any usage limitations on what you will allow to be run on these servers?
6. Does any software come pre-installed, such as a HTTP server, FTP server, Mail server, VNC server or VPN server?
7. Does the windows license cost extra or the same price as centOs?
8. What remote access protocols do you allow RDP/SSH/VNC?
9. Do users get full root access to the OS?

I'll also probably think of more, but thats enough for now.

I think you are on to something here, Yankee. I'd pay good money for this service!

Thanks for trying out the service. I am glad you find it useful. I am aware of the bug you mentioned about downloading multiple files (see a few posts above) and should have a fix sorted out by next week.

I'm also working on better payment methods to reduce transaction fees and I really like your idea about buying bundled bandwidth credit. I might consider this for the next update. Thanks for the suggestion!

Ok, I'm sold.
Maybe molecular is right and the typo coins will be worth more as a collectors item in the future!

So how long until the new batch of coins are ready? I really want some of these beauties, but I might wait for the corrected holograms. Does anyone know if the 25 btc coin has the same typo on the hologram as the 1btc denominated coins?

Also, I was wondering how the coins feel when sliding them across each other, what with the friction of the plastic hologram covering the metal on one side. Do they feel... right?

The server is now back online.

My apologies about this. The server is down because of unscheduled maintenance due to a fault at the hosting company's datacentre. They have not given any timeframe for how long this maintenance is going to take. Hopefully it shouldn't take more than a couple of hours, but it's after working hours there now so it could be tomorrow before it is sorted out.

Once again, please accept my apologies for this inconvenience.
I will update this thread as soon as the fault has been fixed and the site is back online.

Again, I fully agree with you. In no respect am I in denial about the falling price of bitcoin. I have not invested any money, so I have no reason to be emotional. Bitcoin would function as a currency whether it's price was $1 or $100, I am simply frustrated by the short-sightedness of some of the investors here, because this short-sightedness may doom the widespread adoption of bitcoin before it even has a chance.

Game theory and the prisoners dilemma. I know. But I have the belief that we can change the nash equilibrium if we actually tried. Call me naive or tell me I don't know how the world works, all I am suggesting is that we try to come up with a better way of doing things rather than replicating the same problems of the existing financial system.

You asked me if I do anything to gain money at the expense of others, I would only feel good about it if they gave it willingly to pay me for a service rendered or a product purchased, not if it has been accidentally lost by them due to a mistake they made or through some other form of serendipity. Such as occurs in a movement of the market that they could have not anticipated - they are not giving up their money willingly in this case.

When you say that people participate willingly in the market, and therefore your profiting from their losses is moral, I disagree. I get what you are saying that they are getting the chance of profit, but when the price movements are dictated by those with excessive capital, swaying it in their favor, then they are being unfairly robbed of their chance. That is all.

Ultimately, I know this is true. But it doesn't hurt to try.

Sorry for jumping to conclusions. I agree pretty much with everything you said, including the part about regulated speculation.


When I said that bullish speculation is fine, what I actually meant was that if people believe that bitcoin is going to be the superior currency in the future, then they should convert fiat into bitcoin and not look back. It is the short term scalping of fiat out of the system by buying and immediately selling again that I disagree with. It only serves to create fiat profit for people who are using the exchanges like a casino.

I agree with your point about volatility and small market cap, but I still disagree with people who trade bitcoin solely for fiat profit.

I guess I just disagree with the conversion of bitcoin into fiat at all. I know it might be a naive belief, and that bitcoin business need some fiat to pay expenses that cannot be otherwise paid in bitcoin. I just don't see the point of wanting to sell bitcoin for fiat, a currency which by definition you think is doomed to failure if you are investing in bitcoin in the first place.

Because people with excessive capital can manipulate the market for their own ends.


People choose to participate in day-trading, yes, but other (more important) participants who are actually trying to run successful businesses in the bitcoin economy do not have that choice, as they have to actually conduct real commerce with the currency. They may have no interest in short term speculation but find it difficult to operate in such a volatile environment created by day-traders who contribute absolutely nothing to the underlying economy. Of course, they do have the choice not to use bitcoin, but if business decide not to use the currency, then no amount of speculation is going to make your coins worth anything tangible.

I am not a fool. I realize that speculation is necessary, but if you are going to speculate on bitcoin, at least take the bullish outlook. If you don't believe in bitcoin, then don't invest! It's not investment that I have a problem with, it's short term speculation by people who have no intention of leaving their capital in the system for any period of time, and only care about siphoning fiat out of the system and into their bank accounts.


Enough said. I guess we just see things differently.

I don't play your casino game.

Coming from a self-professed "shameless libertarian elite", your statement doesn't prompt much chagrin on my part. Don't get me wrong, I have nothing against libertarians, it's the shameless part that annoys me. As a moral vacuum, I assume you have done quite well for yourself then?

Seriously. I am tired of hearing this kind of sentiment. People should not feel good about benefiting at the expense of others, especially when not all of the players have access to the same level of information, or are actively misinformed by the people who will ultimately take their money. It's like sitting down to a poker game with a stacked deck.

You don't make me sick, but I do feel somewhat queasy.

In a nutshell my point is that even though it's a zero sum game there are still more losers than winners due to lots of people losing money to a smaller number of bigger players who dominate the market, that it's not a level playing field for all participants and that hopefully this poll will underline the fact.

Also, a side point is that bitcoin is supposed to be an alternative to the current financial system, not the same thing again with the exact same problems caused by irrational speculation. Why do we have to recreate the same problems that are dooming the current financial system?

The only people who advocate speculation are those who are benefiting in fiat at the expense of naive investors and want to freely continue doing so. Biased opinions are null opinions in my view.

+1

This is not just a european problem.