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Author Topic: LOAN to start a UK payment gateway  (Read 4354 times)
franky1
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October 29, 2012, 11:07:26 PM
 #41


Where has anything even remotely resembling a business plan been posted by the OP?  And why is the OP so intent on borrowing BTC when he could easily purchase the required BTC if he secured fiat funding?

well the OP did no write a structured plan using professional wording with specially headed paper suitable for the reading of a bank investor. but i do see a plan for his business.

It's people's desperation for certain services which makes it easy for scammers to proliferate.  The lack of options for people in the UK to trade GBP for BTC means that people are likely to latch onto the first service which pops up offering that.

yea offering something that is normally hard to get is tempting. and so is offering something too good to be true. i don't know all of his 'plan' but it is feasible to achieve as a viable business if he is not a scammer. so i wont consider it a too good to be true thing. but more of the first part.

The point of BitInstant is to get people's fund moved quickly.  If there are no exchanges offering GBP/BTC trades then such a service would be pointless and the OP is effectively talking about becoming an OTC Bitcoin trader in his own right.

i kind of see what u mean but it's not how i read his 'plan'. i never read anything about him becoming an OTC in his 'plan'. but now i think about it, he might USE (not become, but use) OTC just to get his hourly 'refills' he mentioned, until he gets the withdrawals sorted to then become self funding without outside help.

i would say a bitinstant hybrid is more of the close plan that i think the OP has for his end game. also not a MTGOX comparison as that involves direct trading between individuals like OTC does.

just like bitinstant they purchase from person A and sell at a later date/value to person B. and vice versa.

an OTC is where ur website validates peoples reputation so they can direct trade between each other. how i read OP's plan is he will buy from person A and sell to person B as separate transactions. not getting person A and B together to trade direct depending on reputation.

either way the main point i see is there is a need for it in the UK. so hopefully someone somewhere makes it happen.

maybe he will go on dragons den and get one of them to fund him. While telling them he will give the funds to an anonymous user on a IRC chatroom in exchange for what is in their eyes, funny money linked to drugs and scandal. that would go down well.

this is why i like Litecoins. less headaches explaining it because there is no scandal

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majorddf
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October 30, 2012, 11:01:30 AM
 #42

It strikes me that we are caught on a bit of a merry-go-round at the minute.

Scammers have caused total mistrust, which means a financial business needs to realistically get regulated to be taken seriously.

But many people do not want Bitcoin business' to be regulated as it creates intersections with fiat bureaucracy.

Which brings you right back to the starting point.

What is one to do?
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October 30, 2012, 03:49:21 PM
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Set up your business without relying on external funding, once you have traded responsibly obtaining trust and investment is easier.

http://www.bitcoinseedshop.com -  the first bitcoin only cannabis seed shop. Secure, pseudonymous payments.
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