[BitFunder] btcQuick - Bitcoin Sales Service

[superbit]

Do you offer GOX USD codes, or just BTC codes?  Looks like you had USD codes but they are now out of stock.

Thanks,

[btcash]

Do you offer GOX USD codes, or just BTC codes?  Looks like you had USD codes but they are now out of stock.

MtGox stopped issuing codes.

[MikeMark]

Thank you for the March P&L.

Any way to see the "number of sales" data?
One sale of 1140 BTC shows a different picture than 114 sales of 10BTC.

Also, I love how you have memberships. A small barrier to signup, but should go a long way towards making people buy again and again. Can you share any data regarding this? Any RFM numbers for members? (How Recently they've bought (so number of members signing up per day), at what Frequency do they buy and re-buy, how much do Money do they spend per transaction.)

Not sure if you're tracking these numbers, but if not - you should track RFM - it would help a lot - and not only to us share holders. But also to you in optimizing processes and conversion rates and increasing revenue.

+10

[Deprived]

Have to say it's nice to see a decent set of accounts that seems to contain the information they should.  Haven't had a chance to go over them properly and analyse the numbers - but at least I now CAN, which is more than can be said for most other securities.

[Ascension]

Dividend will be paid out tomorrow as to include sales from 04/15/2013.


Thanks,
-Ascension

[🏰 TradeFortress 🏰]

Your products say out of stock on the website, by the way.

[Ascension]

Thank you for the March P&L.

Any way to see the "number of sales" data?
One sale of 1140 BTC shows a different picture than 114 sales of 10BTC.

Also, I love how you have memberships. A small barrier to signup, but should go a long way towards making people buy again and again. Can you share any data regarding this? Any RFM numbers for members? (How Recently they've bought (so number of members signing up per day), at what Frequency do they buy and re-buy, how much do Money do they spend per transaction.)

Not sure if you're tracking these numbers, but if not - you should track RFM - it would help a lot - and not only to us share holders. But also to you in optimizing processes and conversion rates and increasing revenue.

+10

In the future we will add # of transaction and the average sale. For march we had 406 orders for an average of $160.53 per order.

[Ascension]

A dividend of ฿12.5 or ฿0.00000025 per share has been paid.

[penta]

my math might be bad but how i cant seem to match your PL report
https://docs.google.com/spreadsheet/pub?key=0AoYY1V1t8ncndFBwV04zZzBKRWFqbFFua2JsT3Jaemc&single=true&gid=2&output=html

with your march profits. also with 1000 more btc raised from ipo how come the sales were so bad compared to february?

2013 February - $1,790.62 USD (Est. 57.72469375 BTC)
2013 March - $ 2,741.64 USD (Est. 21.08461538 BTC) - March P&L

also at current share prices the company is valued at around 500k usd, seems pretty insane for a company with less than 3k a month profits.
for people that bought shares how do you justify that?

[wisard]

my math might be bad but how i cant seem to match your PL report
https://docs.google.com/spreadsheet/pub?key=0AoYY1V1t8ncndFBwV04zZzBKRWFqbFFua2JsT3Jaemc&single=true&gid=2&output=html

with your march profits. also with 1000 more btc raised from ipo how come the sales were so bad compared to february?

2013 February - $1,790.62 USD (Est. 57.72469375 BTC)
2013 March - $ 2,741.64 USD (Est. 21.08461538 BTC) - March P&L

also at current share prices the company is valued at around 500k usd, seems pretty insane for a company with less than 3k a month profits.
for people that bought shares how do you justify that?

So I'm not Ascension obviously. But money raised does not mean sales will rise too.
As the P&L report says, no money was spent in marketing - so all growth in March has been organic.

Also, many companies with $3000 per month profit will be priced at over $500,000. Thats not a completely bad p/e ratio for a new firm. Think of this as a startup and not a mature company.

You can't evaluate a bitcoin based company the same way you would evaluate a NYSE company. The risks with bitcoin are different. The risks with a company buying and selling bitcoins needs to be understood before you invest. You should consider investment in btcQuick as high risk.

[deadweasel]

my math might be bad but how i cant seem to match your PL report
https://docs.google.com/spreadsheet/pub?key=0AoYY1V1t8ncndFBwV04zZzBKRWFqbFFua2JsT3Jaemc&single=true&gid=2&output=html

with your march profits. also with 1000 more btc raised from ipo how come the sales were so bad compared to february?

2013 February - $1,790.62 USD (Est. 57.72469375 BTC)
2013 March - $ 2,741.64 USD (Est. 21.08461538 BTC) - March P&L

also at current share prices the company is valued at around 500k usd, seems pretty insane for a company with less than 3k a month profits.
for people that bought shares how do you justify that?

So I'm not Ascension obviously. But money raised does not mean sales will rise too.
As the P&L report says, no money was spent in marketing - so all growth in March has been organic.

Also, many companies with $3000 per month profit will be priced at over $500,000. Thats not a completely bad p/e ratio for a new firm. Think of this as a startup and not a mature company.

You can't evaluate a bitcoin based company the same way you would evaluate a NYSE company. The risks with bitcoin are different. The risks with a company buying and selling bitcoins needs to be understood before you invest. You should consider investment in btcQuick as high risk.

+1

Having used btcquick.com, I think they have huge potentinal.  Buying BTC with CC (and w/out suffering OTC) has been a dream of mine since BTC before coinbase was around.  I got the coins quickly in my email.

[bitsalame]

Still out of stock?
What is wrong with the inventory, you are losing so many sales right now!!!
Please Ascension, reply the PM I sent you.

[Ascension]

A dividend of ฿8.000000 or ฿0.00000016 per share was paid this morning.

[wisard]

Thank you for your consistency these past couple of times.
Hope you keep the momentum going.
You are doing good.

[Ascension]

Just wanted to post an update. Dividend will be posted before 05/01/2013 @ 7:00PM MST

[🏰 TradeFortress 🏰]

Sounds good.

[josh4580]

Ascension,

why is the dividend so low this month?

Thanks in advance.

[SilentSonicBoom]

Are more bitcoins being posted for sale with all this volatility in the price today?

[Ascension]

Just wanted to post an update. I will be working on finishing the P&L over the next couple of days. As soon as I have it ready I will post it.

We have launched our new website (to be considered beta testing) to simplify the process of buying bitcoins with our service.

Please PM me any suggestions or bugs that you may find if you decide to try it out.

Thanks,
-Ascension

[Ascension]

Wanted to post an update. We have decided to change our dividend payment schedule to a bi-weekly format and this will be the case for this month (May 15th & May 31st).

We have also launched our new site and so far the response from our customers has been positive. We are going to be adding more features over the next couple of weeks to make it easier and faster.

We will be releasing the remainder of shares that did not sell in batch 2 (~3,000,000 shares) on May 15th @ 7:00PM MST. The dividend will be posted before we release the shares.

I am still working on the P&L as the new site launch has taken up most of my time that last couple of days.

Thanks,
-Ascension