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Author Topic: OFFERING $10K for 15% EQUITY in Bitcoin Exchange  (Read 2313 times)
sanbel
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February 12, 2017, 12:19:06 PM
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Offering $10k as a passive investor for a planned online only bitcoin exchange/startup/bitcoin remittance company in return for minimum 15-51% equity (equity percentage may be negotiated further down to a MUCH lesser value based on how much additional funds/relevant skills are being brought to the table). Preferred if you have knowledge of how to incorporate a startup in a tax haven with global clients and virtual online only employees. Please respond even if you are unaware how the legal framework and Tech works. Please be willing to take on the "Sole" founder and CEO role ( Founder/CEO role => Low salary (bootstrapping) + raise Funds. Some perspective : Mark Zuckerberg's base annual salary = $1 )
Prefer if founder is US based ( legal paperwork becomes easier ).
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GailSan
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February 12, 2017, 05:04:25 PM
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Do you have the exchange?
BuySomeBitcoins
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February 12, 2017, 05:52:28 PM
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Offering $10k as a passive investor for a planned online only bitcoin exchange/startup/bitcoin remittance company in return for minimum 15-51% equity (equity percentage may be negotiated further down to a MUCH lesser value based on how much additional funds/relevant skills are being brought to the table). Preferred if you have knowledge of how to incorporate a startup in a tax haven with global clients and virtual online only employees. Please respond even if you are unaware how the legal framework and Tech works. Please be willing to take on the "Sole" founder and CEO role ( Founder/CEO role => Low salary (bootstrapping) + raise Funds. Some perspective : Mark Zuckerberg's base annual salary = $1 )
Prefer if founder is US based ( legal paperwork becomes easier ).


you have me at Mark Zuckerberg's base annual salary

sanbel
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February 12, 2017, 06:28:36 PM
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Do you have the exchange?

I do not. Essentially I am looking to put my money in an online only globally accessible exchange for Equity. BitMEX would be a good exchange/website to model upon or clone for this. Equity is negotiable. Only looking to be passive investor. I understand the offer may come across as ridiculous .. but hey -   Everyone's got to start somewhere. The $10k is only to indicate I am willing to put money where my mouth is.
GailSan
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February 12, 2017, 06:40:26 PM
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I don't think its ridiculous at all.
I have never ran or owned an exchange but I was once offered one fully up and running for 1 bitcoin  Wink It was
an alt coin exchange though. This would be a much bigger deal to get involved in. I will keep an eye on your thread but
in all honesty don't think I can offer anything of value to you. Was just curious mostly.
blacklionfounder
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February 13, 2017, 12:44:58 AM
 #6

I'm interested.

We're based in Singapore and registered as a trading company. Singapore currently considers blockchain assets as a tax exempt asset similar to precious metals.

Founder of Black Lion Cold Brew. Crowdfunding.
BuySomeBitcoins
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February 13, 2017, 02:18:49 AM
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singapore currently considers blockchain assets as a tax exempt asset similar to precious metals.

Source ?

b!z
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February 13, 2017, 02:53:26 AM
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I'm offering $10 for 90% equity in a bitcoin exchange that must have 1 billion dollars volume by the end of March
blacklionfounder
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February 13, 2017, 11:06:26 AM
 #9

https://www.iras.gov.sg/irashome/GST/GST-registered-businesses/Specific-business-sectors/e-Commerce/

Buying Goods or Services Using Virtual Currencies
When you use virtual currencies to pay for goods or services, the transaction will be considered as a barter trade.

There are two supplies made - one by the supplier who supplies the goods and services, and another by you who use virtual currencies to pay the supplier.

GST will need to be charged on each supply if the respective supplier is GST-registered.

However, if you use virtual currencies to pay a supplier belonging outside Singapore, you need not charge GST as the supply will be zero-rated.

As a concession, if you use virtual currencies to buy virtual goods or services within the gaming world, you need not charge GST until they are exchanged for real monies, goods or services.

Edit: Another URL: http://www.moneysense.gov.sg/Understanding-Financial-Products/Investments/Consumer-Alerts/Virtual-Currencies.aspx

TL;DR
Tax treatment for GST registered Exchanges (>1m revenue) is if a Buyer is registered in Singapore, VAT/GST is applicable.

Founder of Black Lion Cold Brew. Crowdfunding.
sanbel
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February 13, 2017, 11:57:28 AM
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https://www.iras.gov.sg/irashome/GST/GST-registered-businesses/Specific-business-sectors/e-Commerce/

Buying Goods or Services Using Virtual Currencies
When you use virtual currencies to pay for goods or services, the transaction will be considered as a barter trade.

There are two supplies made - one by the supplier who supplies the goods and services, and another by you who use virtual currencies to pay the supplier.

GST will need to be charged on each supply if the respective supplier is GST-registered.

However, if you use virtual currencies to pay a supplier belonging outside Singapore, you need not charge GST as the supply will be zero-rated.

As a concession, if you use virtual currencies to buy virtual goods or services within the gaming world, you need not charge GST until they are exchanged for real monies, goods or services.

Edit: Another URL: http://www.moneysense.gov.sg/Understanding-Financial-Products/Investments/Consumer-Alerts/Virtual-Currencies.aspx

TL;DR
Tax treatment for GST registered Exchanges (>1m revenue) is if a Buyer is registered in Singapore, VAT/GST is applicable.

Hi... Thank you for your well thought-out response.

I would most likely be a passive investor so you would have to lead from the front - which may most importantly include raising additional funds in return for "further" dilution of your 85% equity . I have thought this through - If you have too, please pm me and we can discuss this further. No point in laying out the entire business plan here as there are too many trolls on here.

Please be willing to incorporate the exchange in Seychelles like BitMEX did. I am thinking longterm here - like being profitable or breaking even in 2-3 years ... ( implying 2-3 years no salary or steady stream
of income ).

I have ideas on how to automate the whole end to end process but I am willing to discuss this only with the right person after having discussed how to sign the legal paperwork. Willing to take a bank loan or collateral or rise further funds under my name if we have a prototype ready with a decent customer base after 6 months and if I come across the right CEO or leader material - who is fine with taking over the entire end to end process in return for equity. CEO does not have to be full-time job and certainly wont be getting a full pay-check. It all depends on how much work is involved, how much of the process can be automated and how much of it can be a One man show.
sanbel
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February 13, 2017, 12:03:36 PM
 #11

http://www.privacy-solutions.com/setting-offshore-ibc-seychelles.html

List of TAX HAVENS is on the left column. I am giving this 2 weeks to find the right person to invest in.
zahra4577
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February 13, 2017, 12:04:13 PM
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You created a similar thread in India section https://bitcointalk.org/index.php?topic=1787526 and looking for someone from preferably from Bangalore to meet in person.
Here in this thread you looking for someone from US,where actually are you based?

sanbel
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February 13, 2017, 12:17:26 PM
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You created a similar thread in India section https://bitcointalk.org/index.php?topic=1787526 and looking for someone from preferably from Bangalore to meet in person.
Here in this thread you looking for someone from US,where actually are you based?

I am a global citizen and the company will be "online only" so it shouldn't matter  Grin. I can have the documents shipped and signed. Sad Smiley Smiley Smiley We are talking about
bitcoin here - an online only global virtual currency - come-on!  I'd like the company to be virtual as well and catering only to virtual CIP / KYC verified and AML processed clients.

Background checks will be requested and provided. Next question?
OROBTC
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February 14, 2017, 05:27:44 AM
 #14

...

I would be somewhat interested in learning more about this opportunity.  I would be a passive investor only.

If any project advances to your satisfaction, sanbel, I would welcome a PM with a few details.
blacklionfounder
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February 14, 2017, 03:43:27 PM
 #15

Hi sanbel,

I sent you a PM, I look forward to corresponding with you. I am also running a Blockchain Mastery course.
My company will be selling pre-configured USB wallets in addition to the above course.

It will cover basic (To us, at least), security protocols, anonymity and transacting with blockchain assets on exchanges. Stuff we take for granted.

Founder of Black Lion Cold Brew. Crowdfunding.
anonymous2061
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February 14, 2017, 05:54:47 PM
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Have a look here.
https://bitcointalk.org/index.php?topic=1788329.msg17832563#msg17832563

Considering to sell my bitcoin exchange. It is fully functional, supports 5 pairs. BTC,ETC,USDT,XMR,ETH. Multisig functionality. Plus much more. If anyone is interested plz msg me within a offer. I will sell you the VM file. If you want me to upload it to your server. I can do that too.

Please note you will need to sign up for tether and bitgo so, I can install the api keys.
Each Vm file will have different keys. So, don't try to resell it you could be in Jail
sanbel
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April 06, 2017, 05:54:23 PM
 #17

Hi Everyone,

Thank you for your inputs and your personal messages. I am sorry I could not get back to everyone individually. I intended to put in $10k in return for 8-15% equity in a globally scale-able bitcoin startup ( preferably an exchange). I did not get a 15% equity offer in a globally scale-able startup for $10k. I  now realize that you need much more liquidity to start an exchange and the "money transmission laws" both within a countries borders and across international borders are complex. So this is still an ongoing process and still at the early stages of ideation.  I will update this thread if anything materializes.
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