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Author Topic: Bittourist - ATM solutions for Tourists, expats and locals  (Read 459 times)
bittourist
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April 02, 2016, 08:52:31 AM
Last edit: April 02, 2016, 09:24:09 AM by bittourist
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So below is some info on an idea I have been working on for some time.

Please let me know your thoughts on the idea and any questions i'll be happy to answer.

It will be a registered business and I expect to provide contracts and anything I can to ensure that investors feel their due diligence has been carried out in an appropriate manner.

Any suggestions that could help me achieve this would be appreciated.  I've been working hard on getting everything in place, now is the time to start thinking about funding.  Ideally a single investor that can bring skills.

This is only very brief description, the actual business plan is much more detailed, but i'm not putting that in the public domain.  Although serious investors can of course look it over before commitment. 

I'd just like to add that there is also an opportunity here to perhaps create our own ATM's, platform and software so that it can be used by those that don't read or write English.  There are very large numbers of Chinese that travel around Asia and English is not a strong point, although many do use bitcoin.  At the moment it is my belief that it is best to team up with the providers of ATM and platform running them.  But if investors included people with skills in this area then it could be a possibility.

Our Graphic design and web design company is bringing skills to help with marketing.  We can also provide manpower in the early days.  We just need funding to purchase machines and pay for their placement and the cost of securing the concessions (which are agreed in principle although will not be signed until we have decided on machine location. 

So this is an opportunity for someone with skills to invest and relocate to one of the best places in the world to live.

So this could be perfect for someone who has had enough of life in the west and has the drive and skills to help make this work.

However investing does not automatically entitle you to be involved.  We would need to meet and work out if your skills are going to be beneficial.  All investors will have a voice though even if they are so called "silent investors'.




The Aim of this venture is to fund purchase and placement of Bitcoin ATMS in tourist areas around the world.  The first stage will be along the backpacker and tourist trail in Asia.  Thailand, Bali, Singapore, India, Hong Kong, Vietnam, Laos, Cambodia.

We aim to place them in areas with lots of tourist traffic.  In or very close to Airports, bus stations, train stations and main tourist sites.  In or near to Hotels and Restaurant.

We are graphic designers and website designers and will take care of all promotional aspects, running of the website and also the checking and maintaining of the machines.

People who invest over 10 BTC in the 1st stage of funding will also receive equity in the business on top of the promised return, and all holders of equity will be able to verify the exact amount of business being done through the machines through the company that is providing the machines and platform to run the operation.



Stage 1 - Thailand, Malaysia, Singapore - In or near Airports, Train Stations, Bus Stations and Centre of Tourist areas in Major Cities.  We will also experiment with placing machines on Tourist islands, Beaches and busy tourist areas that have poor and expensive banking services.

Stage 2 - Expand into Indonesia, India, China, Vietnam, Laos, Cambodia, Nepal, Philipines, Hong Kong, Japan

Stage 3 - Following the model that works best in stage 1 and 2 expand into areas outside of Asia.  Central, South America, Africa, Oceania.

It is our belief that regulation in future will prevent the placement of these machines in USA and Europe in prime areas such as Airports.  However we have already established willing partners in Asia that will allow the space for a private booth that contains the machine so it can be open 24 hrs and secure from theft.

We have 5 Airports, 3 train stations, 3 Bus Stations and 10 other locations with very high numbers of touristic passing trade where we have verbal agreements with land owners and/or business operators to place a 1.5m x 1.5m cubicle with door.

For reasons of anonymity we intend not to place CCTV inside the cubicle.  We will instead fit anti tamper alarms.

The machines are small and easy to move should we wish to relocate them.  The cubicles and machine are assembled in our workshop and installed or removed and relocated with just a couple of hours work.

The platform and provider of the ATMs will be able to provide information on performance in real time to all holders of equity so you don't have to take our word for it.

Anyone can buy and place an ATM in a bar or Restaurant, but we believe it is our local knowledge and success in arranging positioning in prime locations such as Airports that will make this business extremely profitable for investors with equity.

Also being Website designers and SEO specialists we will be able to create all promotional materials ourselves and maintain running and updating websites and advertsing without wasting budget on design.

So the maximum amount of the invested money can go towards buying machines and placing them rather than blowing half the budget on Design and promotion.

It is our intention to provide 2% equity for each investor of 10 BTC.  Provide all 50 BTC and recieve bonus 5% equity.  So a single investor of 50 BTC will hold 15% equity.  5 individual investors of 10 BTC each will receive 2 % equity on top of the normal return, and in doing so become entitled to a share of the profits matching your equity.  Also if the business is sold in future you will receive a share of the sale price matching your % of equity in the business.





Some Questions answered....................




We would like to know more, can you provide more information before we invest?

Before you invest feel free to contact us and discuss the full scope of the project.  We are happy to discuss in detail to potential investors.

Some aspects may involve signing a non disclosure agreement to prevent people from attempting to start their own business using our business model.

So no time wasters please.

Is the picture the model of ATM you will be using?

The picture of ATM is not a Bittourist ATM or the model we will be using, it is simply an example of a Bitcoin ATM in Asia to give an idea of what the project is about.

Is there much competition?

At present there are only 2 ATMS within a 1500 mile radius of all our proposed sites in Stage 1.  They are not in prime locations, but are located in a busy city, although not in the busiest area.  They are profitable.

Why should we invest with you, what protections do we have, and if we have equity how do we know we are being paid the correcy proportion of profit?

The machines we will use and the platform is provided by a respected third party, we have an agreed set percententage of profit that they will be receiving in return for promotion of our business and an ongoing relationship beyond simply purchasing the machines.  So as machines and the software running them change, the providers will be with us all the way, the incentive of profit share means they can adapt software to suit our application.  Any holders of equity 2% and above will have access to the providers platform which will show performance of each machine in real time.

Can investors get involved in the business?

Absolutely, it is our hope that holders of equity of 2% and above can contribute some skills.  We want tourists to know that you can go on holiday and leave your cards (and their high charges) at home.  So if you are to share in profit, it makes sense that you use all your skills to spread the word and provide input that can be used to improve or adapt out business model.

How are you able to place machines in Airports, I can't imagine one being allowed in a European or USA main Airport.?

Having lived in this part of the world for over 15 years we have had time to undertsand law, and regulations, we have a verbal agreement with site owners in several locations inside terminals.  One company operates all the main airports and we have an agreement in principle.  They have agreed to provide written, signed confirmation before instalation.  The agreement runs until the date they have to renew their monopoly on running the airports.  A small payment for each machine must be paid 3 months after instalation (we wanted a 3 month probation period incase we experiment with location of machines, we only want to pay once, not everytime we move the machine in the trial period).


So what happens if they are not awarded the contract to continue operation of the airports?

Well that is over 10 years away, but in the unlikely event it can be placed in the taxi, Bus, Train terminals which are on their own land and we already have agreements to place machines in their locations around the country.  So one way or another we will have machines in or very near to the terminals.

How did you get these agreements?

Through our work as designers we have worked with many companies linked to the tourist trade.  This has enabled us to cultivate connections so when approaching the people who have the Authority we have friends who can make the introduction.

So is everything in place, do we just need the machines?

Exactly, thats it, we have spent a long time (18 months) and money traveling to meet people to get them on board and to get to where we are now.  Anyone can buy machines and place them in a bar/restaurant.  But permission to place machines in the places we plan for stage 1 takes a lot of time and effort.

What about competition if it works people will copy your idea?

Thats business, but the reason we approached the land owners an operators rather than just placing them in a store in the airports is because when we sign the agreements we will be the only company allowed to operate there.  So we we hold the monopoly for the agreed period.  The agreement will include option for renewal with the increase linked to inflation and not higher.  Other operators will only be able to bid for the concession if we decide not to renew.

So no other Bitcoin ATMS allowed where we hold the concession?

No thats not our plan, we are protecting ourselves from being muscled out and will need this if the business really takes off or if we want to sell the business.  In the contract we will have the right to allow other crypro currency ATMS to locate in the airports, bus stations and train stations.  We are all for bitoin adoption and welcome other operators.  To deny would be against the spirit of Bitcoin.  However we are realists and therefore must protect ourselves and have a duty to any other operators we award concessions to protect from those that may wish to push us out and operate themselves if it becomes the sucess we intend it to become.

So do you expect to put these in airports in western countries?

That may or may not be possible, but we have already established that in most Asian countries bitcoin is not under attack.  Due to the fact it is bringing foreign currency into countries which need it, apart from a few outspoken individuals (whose opinions have no impact on laws), it is viewed favourable since it leads to more money entering the economy and not being lost in transfer fees.  Our business model is not only about placement in transport hubs.  In countries where that is not possible we will go for placement near to transport and in busy touristic locations.

Are the ATM's only for tourists?

No they are for everyone and expats will be some of our most loyal customers.  Some of them are repatriating money to their home countries, others are regulary bringing in money to live, build houses and open businesses.  We can also offer solutions to locals who own online business to receive payment in bitcoin and withdraw the cash from our ATM's.

So does the scope goes beyond just offering ATM?

Yes it is our intention that we can encourage people to adopt bitcoin, the ATM's provide an easy solution to withdraw cash at low cost.  So they can avoid credit cards and paypal charges and also the long wait for funds to arrive in their local bank accounts.  So we hope to not only get tourists and expats to use the machines, but encourage locals to adopt bitcoin in countries where regulations may be more relaxed or easier to get around than in the west
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April 04, 2016, 04:19:07 AM
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We've decided to go ahead with the website and purchase the 1st machine ourselves.

That way we will be able to provide proof of concept and also prove to potential investors that we are indeed able to place the machines in the prime locations that we have verbal agreements for.

If we can show a machines performance and already have contracts in place that should put us in a far stronger position to move forward.

We also intend to place machines in small out of the way places that have very poor banking facilities but very high numbers of tourists passing through.  Of which there are many is S.E Asia.

Looking to the future we also intend to provide delivery of cash by UAV (unmanned aerial vehicle), through our website and/or smart phone application.  Cash being lightweight will be very easy and cheap to deliver in this way.  Also we are looking at doing this in out of the way areas way off normal flight routes.

So we will need people who can help development of these applications. 

We are designers, our skills don't go that far.  So an investor with these skills would be ideal.
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