[ANN - Pre-ICO] BlockPay - Zero Cost, digital currency Point-Of-Sale systems

[Brob12321]

I think that idea of merchants using this altcoin in a physical store setting is way out there, stores have still not even adopted the most known the the crypto's (bitcoin, ETH) why would they just jump onboard with this random new coin , if somehow it did end up being accepted in stores then there is the issue of liquidity; stores can not buy anything with blockpay so this coin would need to get onto a big exchange for all these merchants to convert to cash and with that added inconvience and cost again I doubt stores will accept this coin;  Just my humble opinion let me know what you think

[mr-whitekey]

I think that idea of merchants using this altcoin in a physical store setting is way out there, stores have still not even adopted the most known the the crypto's (bitcoin, ETH) why would they just jump onboard with this random new coin , if somehow it did end up being accepted in stores then there is the issue of liquidity; stores can not buy anything with blockpay so this coin would need to get onto a big exchange for all these merchants to convert to cash and with that added inconvience and cost again I doubt stores will accept this coin;  Just my humble opinion let me know what you think

Nobody is advocating blockpay as a currency. Blockpay is a Point Of Sales system through which both purchasers and merchants can easily use a host of crypto-currencies. Buyers choose the currency to buy in and merchants choose the currency to receive. The token is an IPO token to rise the capital needed to launch the product on the scale needed.

https://blockpay.ch/

It is a fantastic project from what I can tell, they just need some more investor relations and explicit commitments.    

[titan20]

For the tokenholders to get a return on investment of 3% the company has to realize a transaction volume of 1.000.000.000 (1 billion) euro's per year.
(1.000.000.000 x 0,5% commission x 15% payout tokenholders = 750.000 euro)

 

1,000,000,000 x 0.05 x .15 = 7,500,000 euro not 750,000.

@ 1 billion euro transaction volume per year and 15% on a .05% fee, the project would be an outstanding success for all involved.


But, they have not committed to this.

0,5% = 0,005 and not 0,05 so it is 750.000 euro

[tigerclub]

Have the dream    If the token is so expensive, I doubt that any merchants will use this, and you are not innovative project, there are so many merchant apps.

PS: 697 btc fund raised so far?   

[StratisKing]

Dev, I have PMed you about Chinese translation bounty, plz reply me as long as you see it.     Thank you very much!

[RoseMann]

For the tokenholders to get a return on investment of 3% the company has to realize a transaction volume of 1.000.000.000 (1 billion) euro's per year.
(1.000.000.000 x 0,5% commission x 15% payout tokenholders = 750.000 euro)

 

1,000,000,000 x 0.05 x .15 = 7,500,000 euro not 750,000.

@ 1 billion euro transaction volume per year and 15% on a .05% fee, the project would be an outstanding success for all involved.


But, they have not committed to this.

This seems a bit unreasonable no? I mean, long term goals are great and all but...

[Chris4210x]

Ok let's do some calculations:

100 million coins x 0,0005 btc = 50.000 BTC.
50.000 BTC x 500 Euro = 25 million Euro's

So let's say i am an investor and would like to get a little more return on investment then a savings account.
I want a return of 3% per year.

25 million euro x 3% = 750.000,- euros

The company suggested that the tokenholders would get up to 15% of the commission of 0,5% that is charged to consumers for every transaction.

For the tokenholders to get a return on investment of 3% the company has to realize a transaction volume of 1.000.000.000 (1 billion) euro's per year.
(1.000.000.000 x 0,5% commission x 15% payout tokenholders = 750.000 euro)


1 billion euro of transaction volume! how much is that? Visa has around 50% of total global transaction volume for debit and credit card worth 3,3 trillion USD.
So with a transaction volume of 1 billion, blockpay would be small compared to Visacard which is 3300x bigger.
But the cryptospace has a marketcapitalisation of around 10 billion Euro.

So the succes of blockpay is hugely depended on the growth of the cryptocoin consumer.

If it reaches 1 billion transaction volume, i would say blockpay is very succesful. But even then the return on this high risk investment for tokenholders is a lousy 3%.

I am enthusiastic about this project and would love to participate. Because i think the cryptoscene could and should manage to become successful without Venture Capitalist from the 'real' world. But under these conditions it is more a donation then an investment. Don't get me wrong, i want you to become succesfull, but i will wait to invest in this coin when it hits the exchanges (at much lower prices).

Cheers!  
  

Hi Titan20, I really like your passion for your Project You really got a lot of good questions, I hope I answer them all to your satisfaction. Let us tackle the numbers.

First, the 15%, of the 0.5% transaction fees, are the sales commission for our BlockPay Ambassadors. If you sign up a bar in your town, you will get (0.5%*15%) in sales commission for each transaction running through that BlockPay. (0.08% of the total transaction, that is not bad.)

Second, we need far less to be profitable. According to my numbers we break even with around 3,500,000 USD transaction volume or 17,500 USD in transaction fees per month. 15% sales commission 2,625 USD for BlockPay Ambassadors. You take the rest 14,875 USD - deduct our startup expenses and taxes and end up with the net profits per month. These will be distributed according to stake. As you can see 3,5 mio USD per month on a global scale is not that much.

We have over 60 BlockPay Ambassadors today, and when each Ambassador can sign up 5 new stores per month we will have a good network by spring 2017.

Yes at the end we also need the consumer site. If the Blockchain community is not starting to use their coins on the market, then we will not reach our goals too. So we are bootstrapping as much as we can today to get a BlockPay in every store our there.

Gosh when we make a 1 billion USD in transaction volume then we reached true mass adoption for crypto currencies. That should be our new national day

 

The company suggested that the tokenholders would get up to 15% of the commission of 0,5% that is charged to consumers for every transaction.
  

My knowledge is that the 15% is only for Ambassadors whom actively sign merchants with blockpay. It comes from the small fee of only those people whom use the blockpay app at that specific location that the ambassador signed up, not the total set of transaction fees and not to coin holders. There is an undefined, unenforceable promise to profit share with blockpay token holders.

Also, blockpay is not the only project this team is up to. The funds raised here will go to fund other projects as well. as I understand it. Any other project could add value which would alter the value of the coins should the team share this value as promised.


https://blockpay.ch/community/blockpay-ambassador/

Yes right mr-whitekey. BlockPay is just one side of the coin. Echo on the other end is a powerful social chat messenger with a blockchain wallet baked it. PayPal and Whatsapp are looking how to integrate Bitcoin already but they are not private and anonym. I think you can already send Bitcoin with Viber too right? Anyways, Echo will combine the best of WhatsApp and PayPal in one app. Imagine we just get 10 million users who can send Bitcoin over the chat messenger and pay at a BlockPay in seconds. There is a lot of potential up. And WhatsApp has around 1 billion users. Skype 800, WeChat 700 and so on. It is a giant market that we want to tackle with smarter and better technologies.

I want to invest with BTS.

How can I do that?

BTS are on Polo.


Thank you

Hi koanado,

The best is you send your funds first to your OpenLedger account and then send it forward to "ico.blockpay" . It is important you send it to your own account first so that we know your OpenLedger account!! I don´t want to send the BlockPay tokens to the Poloniex wallet....

Thank you for your support, any questions send me a pm.

[ShooterXD]

This looking so much great!

Ill take some btc in this!

Any bounty? Like Steemit post, or any other translation?

[Chris4210x]

This looking so much great!

Ill take some btc in this!

Any bounty? Like Steemit post, or any other translation?

Yes we have a special forum bounty program for the Bitcointalk forum. You can find the full program managed by SFR10 here: https://bitcointalk.org/index.php?topic=1594462.0

[Paidi]

To improve Pre-ICO I suggest you add some Bounty program  like other ICO Facebook , twitter , Blogs
A great way to introduce BlockPay  to the public so far only bitcointalk users  know about BlockPay 

[kellendil]

To improve Pre-ICO I suggest you add some Bounty program  like other ICO Facebook , twitter , Blogs
A great way to introduce BlockPay  to the public so far only bitcointalk users  know about BlockPay 

yes thats a good idea.

[AltcoinScamfinder]

Have the dream    If the token is so expensive, I doubt that any merchants will use this, and you are not innovative project, there are so many merchant apps.

PS: 697 btc fund raised so far?   

Token price is irrelevant. Total project value is the measure to care about.

[AltcoinScamfinder]

To improve Pre-ICO I suggest you add some Bounty program  like other ICO Facebook , twitter , Blogs
A great way to introduce BlockPay  to the public so far only bitcointalk users  know about BlockPay  

yes thats a good idea.

In my opinion no bounties should be used. The project doesn't need 1000 random people tweeting it. It needs dedicated followers and investors that approach merchants for the introduction fee (reward).

Many of the ICOs that do large bounty programs just give away equity for no real return. Twitter followers and Facebook likes from new spam users are worth zero.

And the ICO is nearing sold out without any aggressive PR. Which is a huge accomplishment.

[Chris4210x]

Important Announcement!
We have now reached over 60 ambassadors worldwide. The first round of Ambassadors is now closed. Thanks a lot to all the people that signed in and for all our followers and supporters . We will let you know when the second Ambassadors round will be open! Please sign in the ambassadors waiting list in our website!
https://blockpay.ch/community/blockpay-ambassador/
Your BlockPay team!

[Chris4210x]

To improve Pre-ICO I suggest you add some Bounty program  like other ICO Facebook , twitter , Blogs
A great way to introduce BlockPay  to the public so far only bitcointalk users  know about BlockPay  

yes thats a good idea.

In my opinion no bounties should be used. The project doesn't need 1000 random people tweeting it. It needs dedicated followers and investors that approach merchants for the introduction fee (reward).

Many of the ICOs that do large bounty programs just give away equity for no real return. Twitter followers and Facebook likes from new spam users are worth zero.

And the ICO is nearing sold out without any aggressive PR. Which is a huge accomplishment.

Right our biggest supporters like you AltcoinScamfinder are our best marketing! Thank you for your great work.

[Chris4210x]

Important Announcement!
Phase 3 will close at Sunday 04.09.2016 8pm UTC+1. BlockPay distribution will start on Monday 05.09.2016 on the OpenLedger Exchange.
More info also at http://www.maxkeiser.com/2016/08/blockpay-announces-next-steps-after-the-end-of-pre-ico/#1d2CCIVkcGD3fYAb.99

Updates for the ICO in 2017
We will announce the detailed timeline, prices and ICO terms for the possible 2nd ICO when we need further expansion capital. ICO prices can be adjusted  to meet future market conditions and to guarantee a successful crowdfunding.

[AltcoinScamfinder]

To improve Pre-ICO I suggest you add some Bounty program  like other ICO Facebook , twitter , Blogs
A great way to introduce BlockPay  to the public so far only bitcointalk users  know about BlockPay  

yes thats a good idea.

In my opinion no bounties should be used. The project doesn't need 1000 random people tweeting it. It needs dedicated followers and investors that approach merchants for the introduction fee (reward).

Many of the ICOs that do large bounty programs just give away equity for no real return. Twitter followers and Facebook likes from new spam users are worth zero.

And the ICO is nearing sold out without any aggressive PR. Which is a huge accomplishment.

Right our biggest supporters like you AltcoinScamfinder are our best marketing! Thank you for your great work.

Making me blush and shit.

In all seriousness. I just try to familiarize myself with projects and make a judgement call on value, business aspect and plan.

I personally am very bullish on the bridge between physical trade and crypto. That's the reason I was early and fairly heavily committed in Plutus.it

I think this project may have a realistic plan, and a decent roadmap. So it's worth my time and money.

Lots left to do, prove and realize.

I very much like the direction and the clarification regarding the second ICO. Clear positive not to nail down price and date before capital need and market price is clear.

Good luck team. Im sure you will fill the ICO shortly.

Edit: Even though I personally find him hard to stomach, I'm impressed that you received Max Kaiser mention. Nice one.

Disclaimer: I have received no payment from the team, nor am I part of the tram behind Blockpay in any respect. I also do not personally know the team. All my statements are based on publicly available information and none of my statement is a guarantee, recommendation or financial advice.

[siameze]

DEV.

I asked you but got no reply and I sent you about 10 messages on skype. Do we still have a deal where I get back 45% of the btc I invest. If we are still on I am ready to go forward and invest the 200 btc we discussed.

[Deuceisgood]

DEV.

I asked you but got no reply and I sent you about 10 messages on skype. Do we still have a deal where I get back 45% of the btc I invest. If we are still on I am ready to go forward and invest the 200 btc we discussed.

Dude. That echo you hear is a polite, but resounding 'NO.' You are entitled to neither a response nor a dialogue.

Yoda: Invest or do not, there is no 'deal where I get back'

[RoseMann]

Well after listening to the Beyond Bitcoin recording I'm a bit more interested in this project. I think I'll keep following you guys on there for a bit and choose whether to commit fairly soon. Best of luck with your project