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Author Topic: New Group Buy Possibility  (Read 886 times)
fractal5
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April 03, 2013, 10:52:45 AM
 #1

This thread is to determine the interest in doing a group buy of a new Bitcoin service.

Over the last few days I've repeatedly looked into group buys for batch #3 and also batch#2 direct buys from Ebay. What I keep getting to a point where I think it would be a much better to invest in a company that rides the Bitcoin popularity wave indirectly though running a Bitcoin service. Why? This would take away having to guess what is going to happen with the Bitcoin price over the next year, which is a fool's errand.

The buy-in and pay-outs would be sent in Bitcoins to allow more privacy, and the person handling any money would be a public unanimously agreed upon individual.

Please throw in business ideas if you like this idea. I'll start with three basic ideas:
- A random number generator with extremely random output. You feed it bitcoins, and it feeds out random numbers over the internet. The results can be public or private.
- A service allowing truly instant Bitcoin transactions. This is just an initial service idea where I have thought out basically none of the details.
- Another competitor to MtGox seeing how they have 80% market share.

I know I'm not even starting to cover what is possible and would be interested to hear other ideas. I think this could actually be much more fun than a joint mining operation.
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strikegold
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April 03, 2013, 11:23:36 AM
 #2

i think your idea is great  Smiley

maby, we could create a group of interested people

then work togheter to start different Bitcoin projects.

i got an idea for a Bitcoin Reward system.
 
i'm in anyway!  Smiley

TradeFortress
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April 03, 2013, 11:25:31 AM
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Sure, go work on it Smiley

Building a successful business or service starts with actually doing it, not talking about it and asking for "group buys" when all you have is a measly forum post.
fractal5
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April 04, 2013, 12:30:00 AM
 #4

i think your idea is great  Smiley

maby, we could create a group of interested people

then work togheter to start different Bitcoin projects.

i got an idea for a Bitcoin Reward system.
 
i'm in anyway!  Smiley
Great, we are now partners! I think the first step is to agree on a mission and an attitude.

Here is my proposal:
Initial Mission: Make money in the Bitcoin business as a pubic group.
Initial Attitude: Lets have fun, cooperate, and be ethical.
fractal5
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April 04, 2013, 12:45:40 AM
 #5

Sure, go work on it Smiley

Building a successful business or service starts with actually doing it, not talking about it and asking for "group buys" when all you have is a measly forum post.
Building a successful business starts with a will. I'm now combining my will with the will of others for a stronger start.
terryie
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April 05, 2013, 02:03:54 AM
 #6

Being new here this is sounds interesting.  I would like to hear the pros/cons and actual implementation.
freebeer2go
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April 05, 2013, 02:10:06 AM
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sounds interesting.
fractal5
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April 05, 2013, 02:58:15 AM
 #8

Being new here this is sounds interesting.  I would like to hear the pros/cons and actual implementation.

Pros:
Its a way to invest in Bitcoin without caring much about the current or future price of Bitcoin.
You have a lot of control over how successful your investment is because each person involved gets a say in how things are done.
You can get business and investing experience.
You can encourage the growth of a currency that apparently isn't controlled by the banking elites by adding more things that can be done with Bitcoin.
This is a totally new way of starting a business, making it fun to do.

Cons:
Starting a business is risky.
Many partnership-based businesses end in failure.
Starting a business is more difficult than investing directly in Bitcoins.


As for implementation, its a work in progress, so anyone can propose an implementation.

My current *plan* for implementation (the actual does not yet exist) is:
1. Develop a mission statement.
2. Decide on a way to make group decisions.
3. Decide on the type of Bitcoin service to be started.
4. Decide on a website host to put the Bitcoin service on.
5. Decide on who will program the site and have access to the website code.
6. Decide on the method of how the investments will be made and paid back.
7. Decide on how the management works to implement the decisions made by the group.
8. Decide on a person to entrust the money to.
9. Send the person the money (probably in Bitcoins).
10. Profit
11. Get involved from there as much or as little as you'd like.

This is only my plan, after a method of group decision making exists than my plan is as valid as your plan. So, the group-decision making process could change the plan to something completely different. As soon as there is a systematic group decision-making process being done, its anyone's guess as to what happens next. Thats why this is a fun project.
edmanr2003
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April 05, 2013, 03:09:33 AM
 #9

I am still not precisely what this group will be doing as a whole, and what would be the major benefit to not directly just investing in the stock itself?
fractal5
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April 05, 2013, 03:10:58 AM
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I am still not precisely what this group will be doing as a whole, and what would be the major benefit to not directly just investing in the stock itself?
Did you read the post above yours?
edmanr2003
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April 05, 2013, 03:19:53 AM
 #11

I will keep my eyes peeled to see what sort of idea's come up.
Rallye
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April 05, 2013, 04:35:16 AM
 #12

id be interested if this is put together properly
fractal5
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April 05, 2013, 02:41:35 PM
 #13

Is there anyone else interested in this investment idea? If one more person is interested I'll definitely put additional effort into it.
terryie
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April 06, 2013, 03:37:45 AM
 #14

I am wondering what services/products could be offered.  I can see using the funds now spent on online sites for amusement used for this investment.
johnblaze
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April 06, 2013, 04:04:02 AM
 #15

The thing is, the people who already have created bitcoin services can easily replicate your idea faster and with more market share. Thats the problem. I am new but there are like thousands of bitcoin related service websites popping up all the time. Everyone wants to do what you're doing.

There is a common saying in business:

"Ideas are worth nothing. Execution is everything."
SeansinWiscottle
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April 06, 2013, 05:01:09 AM
 #16

Is there anyone else interested in this investment idea? If one more person is interested I'll definitely put additional effort into it.

I am. I would be willing to invest my time and smarts to a group project.
fractal5
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April 06, 2013, 05:40:21 AM
 #17

The thing is, the people who already have created bitcoin services can easily replicate your idea faster and with more market share. Thats the problem. I am new but there are like thousands of bitcoin related service websites popping up all the time. Everyone wants to do what you're doing.

There is a common saying in business:

"Ideas are worth nothing. Execution is everything."
I'm sure there are lots of new Bitcoin services popping up all the time. Some will succeed and others will fail. Hopefully the one I get involved in will succeed.

99.9% of businesses start in an environment where much better capitalized people can easily replicate their business and start with more market share. Our Bitcoin service will be in that 99.9% where its possible other businesses can do the same thing faster. I don't see Goldman Sachs trying to replicate Bitcoin. Of course, if they liked Bitcoin so much they could spend $100M a year on mining equipment and dominate the market for the next 20 years. Will they? No. The point is that if a big-capital company comes in and likes what we are doing, they are much more likely to buy us out than attempt to replicate.

Ideas are worth the price someone is willing to pay for them.

There is a common saying in business:
"Think before you act."
fractal5
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April 06, 2013, 05:56:58 AM
 #18

Is there anyone else interested in this investment idea? If one more person is interested I'll definitely put additional effort into it.

I am. I would be willing to invest my time and smarts to a group project.
Welcome to the club! I'm done work on Stage 1: Evaluating Interest, and going to move on to Stage 2: Create Mission Statement. Agreeing on a shared mission establishes focus and also allows people to understand and cooperate with the group more easily.
Headsaflame
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April 06, 2013, 06:04:02 AM
 #19

I'd love to work on some bitcoin related business ideas.  It's much more logical to me to invest in a bitcoin business instead of buying bitcoin. If we care out bitcoin's longterm success, using it is far better than just buying it and hoarding it, hoping the value will go up.

I'm working on setting up a service for opening online stores and accepting bitcoin payment.
http://img855.imageshack.us/img855/6783/screenshot20130406at157.png


I have a lot of ideas, I'm definitely for brainstorming and working together!
fractal5
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April 07, 2013, 12:11:37 AM
 #20

I'd love to work on some bitcoin related business ideas.  It's much more logical to me to invest in a bitcoin business instead of buying bitcoin. If we care out bitcoin's longterm success, using it is far better than just buying it and hoarding it, hoping the value will go up.

I'm working on setting up a service for opening online stores and accepting bitcoin payment.
I think that a website Bitcoin website integration service will probably end up at or near the top of the idea pile, so thanks for adding that in. Certainly its something that can build up Bitcoin popularity.
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