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Author Topic: What are your thoughts on selling a bitcoin startup for bitcoin?  (Read 2354 times)
hughbt
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November 25, 2015, 10:30:17 PM
 #21

I like the name, the font you are using(reminds me of something, old moneybookers?) and unfortunately that's it. It's not expensive to code a site better than this one, so basically you are only selling the brand(with domain etc.). If I were you I would try to build an e-bay like platform(where you have a rating system) with bitbay working as an escrow where you could buy/sell maybe even crowdfund whatever you want. I saw a lot of people here selling things related to cryptos and even accepting crypto payments in their own shops around the world, but they don't have enough exposition(is this the right word?), so there is a potential. IMO that would be a proper startup.
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November 29, 2015, 02:50:17 PM
 #22

If you choose to sell this startup company I don't think that you will make good money, but starting a strategic idea/project to boost the service will be better and also running a kickstarter campaign would be better, but if you can sell then why not. We should know that most of startups fail so there is a higher risk.

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November 29, 2015, 03:40:48 PM
 #23

Few suggestion from me :
1. Use BitPay/Coinbase service. It'll help you & your customer, also they automatically follow bitcoin price too.
2. Consider using good design but simple. Customer won't like unattractive design.
3. Make your website more secure. Add AES, HTTPS & certificate for your website.
4. Do some social promotion.

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November 29, 2015, 03:45:13 PM
 #24

This completely depends on your approach on why "You started the business".If you started a company with an intention to make it successful then selling it obviously seems like a bad idea because you couldn't make it.On the other hand, if you think logically that your idea of the start up is quite played out or saturated and you don't really see any business with the same for now or you have some other idea in then ,in that case selling your start up would be a nice thing to do.No sure if you'll get the same resale value as you had invested but you've to comprise.


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bitbaycom
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November 30, 2015, 08:06:41 AM
 #25

Few suggestion from me :
1. Use BitPay/Coinbase service. It'll help you & your customer, also they automatically follow bitcoin price too.
2. Consider using good design but simple. Customer won't like unattractive design.
3. Make your website more secure. Add AES, HTTPS & certificate for your website.
4. Do some social promotion.

All good points!  

If we do continue without selling the startup, we will be looking at all of these for bitbay.com version 1.2.0  Smiley

Thanks
n2004al
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November 30, 2015, 09:22:38 AM
 #26

As the founder and developer of a bitcoin startup, I'm very interested to know what your thoughts are on the approach of selling a bitcoin startup, website or business for bitcoin?

We developed bitbay.com in the summer with plans to roll out and grow a solid bitcoin marketplace where anything (legal) could be purchased for bitcoin.
The truth is we never really had the funds to keep it operational or to promote the service to enough people to grow the service organically, and so.. this has led us to consider selling the whole startup to someone who does have the resources needed to make it flourish.

As bitbay.com is a bitcoin startup, we think this is a property that would be best fitted to a bitcoin enthusiast or at least to someone who trades in bitcoin.
Also, as it is a marketplace for trading goods and services for bitcoin, it also makes sense to list the startup itself on its own marketplace to demonstrate its own concept.

What are your thoughts on this?


According to me you must use all the possible ways to expose in clear evidence the value of your work. This may bring several goods, the first of whom will be the highest possible price in its selling. Have no good possibilities or bad possibilities in this direction. Must be tried all. No one know from where might be the best offer. Then, as for the selling of your materialized work with bitcoin that depends on your expectations on him. I would sell without hesitation in bitcoin. But this is what I think. You may think otherwise. I believe in bitcoin and I try to have as much as I can of it. So it will be a very fortune for me to be able to sell such materialized work with bitcoin.
bitbaycom
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November 30, 2015, 04:37:14 PM
 #27

As the founder and developer of a bitcoin startup, I'm very interested to know what your thoughts are on the approach of selling a bitcoin startup, website or business for bitcoin?

We developed bitbay.com in the summer with plans to roll out and grow a solid bitcoin marketplace where anything (legal) could be purchased for bitcoin.
The truth is we never really had the funds to keep it operational or to promote the service to enough people to grow the service organically, and so.. this has led us to consider selling the whole startup to someone who does have the resources needed to make it flourish.

As bitbay.com is a bitcoin startup, we think this is a property that would be best fitted to a bitcoin enthusiast or at least to someone who trades in bitcoin.
Also, as it is a marketplace for trading goods and services for bitcoin, it also makes sense to list the startup itself on its own marketplace to demonstrate its own concept.

What are your thoughts on this?


as for the selling of your materialized work with bitcoin that depends on your expectations on him. I would sell without hesitation in bitcoin. But this is what I think. You may think otherwise. I believe in bitcoin and I try to have as much as I can of it. So it will be a very fortune for me to be able to sell such materialized work with bitcoin.

Yup me too. I still very much believe in using bitcoin which is why we'd be more than happy with a bitcoin sale.
bitbaycom
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December 01, 2015, 08:10:36 PM
 #28

This completely depends on your approach on why "You started the business".If you started a company with an intention to make it successful then selling it obviously seems like a bad idea because you couldn't make it.On the other hand, if you think logically that your idea of the start up is quite played out or saturated and you don't really see any business with the same for now or you have some other idea in then ,in that case selling your start up would be a nice thing to do.No sure if you'll get the same resale value as you had invested but you've to comprise.

Didn't really put in any investment other than a lot of development time and the original purchase of the domain name.

Will definitely continue to work on other bitcoin products.
Bitcoinpro
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December 01, 2015, 08:25:48 PM
 #29

its a good name thats for sure

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December 01, 2015, 09:05:46 PM
 #30

As the founder and developer of a bitcoin startup, I'm very interested to know what your thoughts are on the approach of selling a bitcoin startup, website or business for bitcoin?

We developed bitbay.com in the summer with plans to roll out and grow a solid bitcoin marketplace where anything (legal) could be purchased for bitcoin.
The truth is we never really had the funds to keep it operational or to promote the service to enough people to grow the service organically, and so.. this has led us to consider selling the whole startup to someone who does have the resources needed to make it flourish.

As bitbay.com is a bitcoin startup, we think this is a property that would be best fitted to a bitcoin enthusiast or at least to someone who trades in bitcoin.
Also, as it is a marketplace for trading goods and services for bitcoin, it also makes sense to list the startup itself on its own marketplace to demonstrate its own concept.

What are your thoughts on this?

It has been mentioned in other posts, it depends on how much you value the company. If you want to see the company become a product of your work, selling it isn't a good idea.

If you're worried about the ethics of selling a startup for the same currency it was started around, I don't see any issue with it.

As for the idea itself, if it is like a Bitcoin Amazon, I'd be all for it. It would be a great idea, however you have to realize that there are competitors like Tiger Direct and newegg that provide the same services and have a backing. However, based on what I read, you intend to make it like a Bitcoin Ebay, were users would list and sell goods and services. The main issue I see with the services aspect is that the various locals would not have access to all the services listed, but I assume that you already have a workaround for that.

Other than that, it sounds like a good idea if you want to pass it off to someone else to help it grow. As long as it isn't a pump n dump service, and the person/organization that purchases it intends on growing the service, I'd say go ahead.














 

 

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Bitware
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December 01, 2015, 10:28:13 PM
 #31

If it becomes popular, I believe that Ebay will come after the use of "bay" in the name and website for trademark infringement as "potentially confusing similarity for customers that will damage the Ebay brand," which is probably why you're trying to drum-up interest here for the sale.

https://www.google.com/search?q=similar+name+trademark+violations

Does the potential buyer have enough financial resources for fight Ebay in civil court?

Probably not.

I recommend staying away from this.
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December 01, 2015, 10:38:21 PM
 #32

Sure, sell it if you decided you cannot handle it.

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December 02, 2015, 04:59:51 AM
 #33

I don't think you're going to be able to find a buyer (or at least a meaningful offer). Start-ups are only really useful if they either have a patent for the idea their using or their brandname has huge value (i.e. is well known and attracts consumers already) and potential for growth in the future. Right now there's nothing stopping someone from copying you're idea (without buying you out) and using their own branding - because buying you out would really only be for the branding and you're branding doesn't do anything at the moment.
bitbaycom
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December 02, 2015, 08:11:16 AM
 #34

If it becomes popular, I believe that Ebay will come after the use of "bay" in the name and website for trademark infringement as "potentially confusing similarity for customers that will damage the Ebay brand," which is probably why you're trying to drum-up interest here for the sale.

https://www.google.com/search?q=similar+name+trademark+violations

Does the potential buyer have enough financial resources for fight Ebay in civil court?

Probably not.

I recommend staying away from this.

I have had this looked into and we're absolutely fine.

*As long we don't start doing online auctions which we have no plans of doing.

Bitbay is a place for listing goods/services for a fixed bitcoin purchase. It's more like a directory of sellers than an auction site.  
The only features that ebay has that we would like to develop is a good profile / rating system and payment processing.
This functionality coupled with the word 'bay' is not enough to cause any trademark or copyright violations.

quantumgravity
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December 02, 2015, 09:09:20 AM
 #35

As the founder and developer of a bitcoin startup, I'm very interested to know what your thoughts are on the approach of selling a bitcoin startup, website or business for bitcoin?

We developed bitbay.com in the summer with plans to roll out and grow a solid bitcoin marketplace where anything (legal) could be purchased for bitcoin.
The truth is we never really had the funds to keep it operational or to promote the service to enough people to grow the service organically, and so.. this has led us to consider selling the whole startup to someone who does have the resources needed to make it flourish.

As bitbay.com is a bitcoin startup, we think this is a property that would be best fitted to a bitcoin enthusiast or at least to someone who trades in bitcoin.
Also, as it is a marketplace for trading goods and services for bitcoin, it also makes sense to list the startup itself on its own marketplace to demonstrate its own concept.

What are your thoughts on this?


If it is a lack of funds that are the reason you want to sell, then I don't think you should. Instead of selling it outright, you could sell shares of stock of your company/website. The SEC recently changed the rules and made it so you don't have to be a millionaire to invest in companies anymore. There are a lot of reputable sites that do Bitcoin denominated Stock IPOs. I would suggest BTCTCPOP.co. Look into it if you aren't completely certain you want to sell.

But, to answer your original question, YES you should sell for BTC. It is a BTC business after all!

primecoin
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December 08, 2015, 06:18:17 PM
 #36

I think its a good idea to sell your bitcoin domain name and website for bitcoin instead of fiat. I also really like your domain and icon design. Nice and simple yet very marketable. Looks good for mass markets.
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December 08, 2015, 07:30:03 PM
 #37

I think its a good idea to sell your bitcoin domain name and website for bitcoin instead of fiat. I also really like your domain and icon design. Nice and simple yet very marketable. Looks good for mass markets.

Thank you primecoin!  Smiley
primecoin
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December 08, 2015, 07:50:40 PM
 #38

The domain name alone must be worth a few thousand $$$. Very short and easy to remember. Could be used for anything bitcoin really.
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December 08, 2015, 08:34:33 PM
 #39

I like the website app but I don't think I'd be able to aford the whole lot so how much would you sell me just the domain name for? and the logo icon artwork?
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December 08, 2015, 09:02:32 PM
 #40


Please email an offer to: info@bitbay.com

We consider all offers Smiley
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