Presenting EasyCoin, Now as an Investment Opportunity!

[Anonymous]

I am now hard at work in deciphering the logistics of starting up EasyCoin Software and Security Services. In the coming days, I will be fleshing out more and more details on its construction and how our company will derive value, not only through monetary means but by making Bitcoin as the currency of tomorrow!

As it has been said, Bitcoin is not an acceptable medium of commerce for mainstream consumers. Not only is it barely possible for consumers to purchase Bitcoins, the methods of transfer and storage are cumbersome.

EasyCoin plans to solve all of this one full swoop by providing secure payment processor software that enables consumers to instantly purchase Bitcoins with a credit card, keep their Bitcoins safe and trade with as little as a click of a mouse.

Even enabling merchants to receive Bitcoins for their products and services by a consumer just using her credit card!

EasyCoin will most definitely be bringing Bitcoin to the mainstream!

So, potential investors in Bitcoin and USD alike, I am --as I have implied-- working on a very concise, clear and detailed plan on how I will be putting more money in your hands and making EasyCoin a viable standard for Bitcoin trade!

Here is the current draft: http://www.mediafire.com/?f6pmkcj302b9emp

If you are confident in this project as-is, feel free to make your pledges. I do not have an accurate number on how much capital I need but I aim to have it not exceed twenty grand.

This is a big project mind you, because I will not settle for less than the most conscious and talented developers, security consultants and staff this project deserves! We will be putting Bitcoin on the map and WE WILL do it right the first time!

Thank you for your time! Questions?

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[Anonymous]

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[TheBitMan]

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Please make it easy to buy

[Anonymous]

This post is intentionally left blank.

Please make it easy to buy

Of course. It's safe to say that's our main objective.

[TheBitMan]

This post is intentionally left blank.

Please make it easy to buy

Of course. It's safe to say that's our main objective.

lol good job on all that work so far.

[Anonymous]

This post is intentionally left blank.

Please make it easy to buy

Of course. It's safe to say that's our main objective.

lol good job on all that work so far.

That's nothing compared to the real meat of this thing.

[Meatpile]

I would recommend strong caution against "financing" this user. He throws out too many ideas without completing anything tangible.

Although I don't get the feeling he is malicious, he certainly isn't focused enough to make use of "twenty grand" in a meaningful fully realized way.

If i ever see a finished project by this person I may change my mind of course. (He should definitely be starting out with something smaller or not asking for investing / donations before being trusted)

[Anonymous]

I would recommend strong caution against "financing" this user. He throws out too many ideas without completing anything tangible.

Although I don't get the feeling he is malicious, he certainly isn't focused enough to make use of "twenty grand" in a meaningful fully realized way.

If i ever see a finished project by this person I may change my mind of course. (He should definitely be starting out with something smaller or not asking for investing / donations before being trusted)

I have committed fully to the BitTalk podcast and I AM FULLY COMMITTED TO EASYCOIN. The other ideas I make are just that -- ideas. They were never intended to be long-term projects. In addition, my Bitcoin screenplay is being fully made into an actual video advertisement as we speak. I do not commit to everything that crosses my mind but when I do commit, I COMMIT.

You are borderline libelous.

This man holds no real say on my character. I caution against taking his word.

I am focused when it is called for. I have lead the construction of a very competitive robot in The BEST Robotics competition and I meet deadlines for personal projects without fail.

I am also a trusted member. I have taken large loans (albeit a month or two ago) in excess of 200BTC and paid them back in full.

I am more than qualified and passionate to create the revolutionary idea that is EasyCoin, without question.

[done]

Atlas I love the ambition. We need more of it on the forums. Looking forward to the updates.

[AtlasONo]

It's great that you've come up with and are committed to this idea but are you the right person to bring it to reality? This seems to be an absolutely massive undertaking and you seem to have little to no experience.

[Anonymous]

It's great that you've come up with and are committed to this idea but are you the right person to bring it to reality? This seems to be an absolutely massive undertaking and you seem to have little to no experience.

I have dealt in quite an area with my 2 years of robotics competitions. I know what it means to plan, to delegate and adapt. Our school, through my leadership, has only risen to the top 50 percentile in competition but has exceeded standards in build quality and aesthetics. I know how to achieve a vision and have proven to do so.

My experience may be minute, along with my time on this planet, but the probability of me achieving success with this project is nearly certain. I can maintain the vision of EasyCoin, if not far beyond its original form.

[mouse]

I think you need to start with a dedicated project hub complete with sub forums where different aspects of the project (technical, financial, managerial, etc) can be discussed by the relevant parties.

[Anonymous]

I think you need to start with a dedicated project hub complete with sub forums where different aspects of the project (technical, financial, managerial, etc) can be discussed by the relevant parties.

Excellent idea. This will definitely eliminate a lot of overhead as opposed to leaving this to phone and mailing lists. God, that would be terrible.

Thank you!

[mouse]

Also, not sure if you saw it, but I propose for initial technical discussion this http://forum.bitcoin.org/index.php?topic=25418.msg318494#msg318494
It always helps to survey what is currently being done in the field so you know what to cherry pick.

Again, goodluck!

[Anonymous]

Also, not sure if you saw it, but I propose for initial technical discussion this http://forum.bitcoin.org/index.php?topic=25418.msg318494#msg318494
It always helps to survey what is currently being done in the field so you know what to cherry pick.

Again, goodluck!

Definitely. Those who fail to learn from history are doomed to repeat it. I'll study up through what you listed. If you would like to be a dedicated adviser to this project, I would be happy to have you.

[mouse]

Also, not sure if you saw it, but I propose for initial technical discussion this http://forum.bitcoin.org/index.php?topic=25418.msg318494#msg318494
It always helps to survey what is currently being done in the field so you know what to cherry pick.

Again, goodluck!

Definitely. Those who fail to learn from history are doomed to repeat it. I'll study up through what you listed. If you would like to be a dedicated adviser to this project, I would be happy to have you.

I'm not currently in a position to dedicated myself to any projects, but I'l be watching this one, and will help out where I can (and where I think I can add something of value). Depending on how it's implemented, I might even be able to help with some of the code.

[Anonymous]

Wish you luck Atlas.

You know paypal was started by a libertarian ?

 

[Jalum]

I would recommend strong caution against "financing" this user. He throws out too many ideas without completing anything tangible.

Although I don't get the feeling he is malicious, he certainly isn't focused enough to make use of "twenty grand" in a meaningful fully realized way.

If i ever see a finished project by this person I may change my mind of course. (He should definitely be starting out with something smaller or not asking for investing / donations before being trusted)

It's almost like he's a teenager who is being homeschooled. 

I know I would definitely trust my $20,000 with someone who was six when 9/11 happened.

[ribuck]

Much as a like the concept, and much as I think Atlas has a great vision, the world has a habit of throwing stumbling blocks in front of any project that is sufficiently novel and innovative.

The path to success is not to raise $20,000 then spend it "on the best developers" etc, then find that there may or may not be something functional when the money is gone. Or there may be something functional but it is not what the market wants.

This kind of project should be done incrementally, so that a rough proof of concept is operating as soon as possible, and is producing at least some income.

Then, progressively increase the scope and improve the quality, based on priorities generated by customer feedback.

This is basically how MtGox bootstrapped itself. Had they tried to raise $20,000 at the beginning, I doubt they would have managed it. And they would have spent so long on the underlying processes that the moment would have passed by the time they got started.

If you don't want to go "agile", then I suggest to find a real venture capitalist who will back the business for $1million or more. That's about what you need to do something like this "procedurally" rather than "by the seat of your pants".

[tysat]

You may want to look into creating an EasyCoin company if you haven't already.  I don't know the specifics of corporate law, just what I learned from my dad when I was younger (he had his own company for over 10 years)... but a company can help be a good shield from legal issues if it's the right kind.

[Jalum]

You may want to look into creating an EasyCoin company if you haven't already.  I don't know the specifics of corporate law, just what I learned from my dad when I was younger (he had his own company for over 10 years)... but a company can help be a good shield from legal issues if it's the right kind.

Psst...he's too young to enter into legally binding contracts.  He's literally asking you to just give him $20k and hope for the best.

[tysat]

You may want to look into creating an EasyCoin company if you haven't already.  I don't know the specifics of corporate law, just what I learned from my dad when I was younger (he had his own company for over 10 years)... but a company can help be a good shield from legal issues if it's the right kind.

Psst...he's too young to enter into legally binding contracts.  He's literally asking you to just give him $20k and hope for the best.

Well that changes my thoughts...

[Anonymous]

You may want to look into creating an EasyCoin company if you haven't already.  I don't know the specifics of corporate law, just what I learned from my dad when I was younger (he had his own company for over 10 years)... but a company can help be a good shield from legal issues if it's the right kind.

He's literally asking you to just give him $20k and hope for the best.

Libel. I plan to use methods that make this a legitimate business despite my age. I have never asked for charity nor investment without providing sound and certain value for the investor.

There was a different time in this country where I would be seen as an adult. Most businessmen used to start as early as 14.

[digigalt]

You may want to look into creating an EasyCoin company if you haven't already.  I don't know the specifics of corporate law, just what I learned from my dad when I was younger (he had his own company for over 10 years)... but a company can help be a good shield from legal issues if it's the right kind.

Psst...he's too young to enter into legally binding contracts.  He's literally asking you to just give him $20k and hope for the best.

Libel. I plan to use methods that make this a legitimate business despite my age. Also, I have never asked for charity nor investment without providing sound and certain value for the investor.

There was a different time in this country where I would be seen as an adult. Most businessmen used to start as early as 14.

You're 17. You can't legally enter into a business contract with anyone. That's not libel. Also, your proposal is riddled with spelling and grammar errors. At no point did you even attempt to explain why EasyCoin is easier than simply using a credit card to make purchases - especially when you need a credit card to put money into EasyCoin. Adding an additional step to the purchasing process doesn't make it easier.

[Anonymous]

You may want to look into creating an EasyCoin company if you haven't already.  I don't know the specifics of corporate law, just what I learned from my dad when I was younger (he had his own company for over 10 years)... but a company can help be a good shield from legal issues if it's the right kind.

Psst...he's too young to enter into legally binding contracts.  He's literally asking you to just give him $20k and hope for the best.

Libel. I plan to use methods that make this a legitimate business despite my age. Also, I have never asked for charity nor investment without providing sound and certain value for the investor.

There was a different time in this country where I would be seen as an adult. Most businessmen used to start as early as 14.

You're 17. You can't legally enter into a business contract with anyone. That's not libel. Also, your proposal is riddled with spelling and grammar errors. At no point did you even attempt to explain why EasyCoin is easier than simply using a credit card to make purchases - especially when you need a credit card to put money into EasyCoin. Adding an additional step to the purchasing process doesn't make it easier.

I never denied that I couldn't. I was mainly referring to the last statement.

In addition, EasyCoin is just as easy because in the view of a lot of end users, it will just be a credit card payment for goods.

I believe I explained that. It's alright, I am doing a total revision so more people --especially you-- can actually understand what I am trying to achieve. I take responsibility for this confusion.

You only need to deal with anything more if you wish to trade to other EasyCoin accounts. It's just like PayPal but with sound money. It's a payment processor that uses Bitcoin as the currency.

[digigalt]

Well make sure you tout EasyCoin's ease-of-use - as opposed to "ease-of-us."

[flug]

There's still a lot of detail missing from EasyCoin. If there are lots of instances of EasyCoin, how are bitcoins transferred from one instance to another? What's the general architecture? Is there a single point of failure, legally or technically? Is it a truly international currency? What's the advantage of a new currency over simply designing a Bitcoin service layer?

[Anonymous]

There's still a lot of detail missing from EasyCoin. If there are lots of instances of EasyCoin, how are bitcoins transferred from one instance to another? What's the general architecture? Is there a single point of failure, legally or technically? Is it a truly international currency? What's the advantage of a new currency over simply designing a Bitcoin service layer?

Bitcoins will have to be transferred through the de-facto client in order to get them to other services, which is hardly an issue. The general architecture is cloud-based software. There is no single point of failure if everybody has accessibility to the EasyCoin software.

It's not a new currency. It is a Bitcoin service layer.

More detail will be coming.

[Anonymous]

Well make sure you tout EasyCoin's ease-of-use - as opposed to "ease-of-us."

Thank you. I'll make sure such mistakes aren't in my finals as opposed to this draft. : )

[Jalum]

Please, Atlas, give us a rundown on how many different bitcoin-related projects you've proposed on this forum in the last two months and how they're all coming along.  Also make note of which ones you've solicited real money or BTC for (and whether you've asked for donations or labeled them as "investments").

[Anonymous]

Please, Atlas, give us a rundown on how many different bitcoin-related projects you've proposed on this forum in the last two months and how they're all coming along.  Also make note of which ones you've solicited real money or BTC for (and whether you've asked for donations or labeled them as "investments").

The only two other active projects I am aware of is the Bitcoin Lobbying Firm (Donations) and the Bitcoin Reddit Ad Fund (Donations). Each have their funds tucked in a safe place. I really wish to return the money to the donors of the Lobby Idea considering Gavin is already doing such efforts as we speak, unless they want me to forward the money to Gavin.

The Reddit Ad Fund will begin to be used (towards Ads on Reddit of course) once the media attention is justified in the eyes of the community and once the funds reach sufficient maturation.

There is one project near completion and that is my commercial screenplay. The actual video is being created as we speak.

As for BitTalk.tv (Donations as payment.). That's running smoothly.

Anything else was just throwing ideas on the wall.

[Anonymous]

Addendum:

I had started an eyeglasses proposal several months ago. I didn't take it further because I needed to get a good mechanical engineer on board. I had a few pledges though.

[Jalum]

Addendum:

I had started an eyeglasses proposal several months ago. I didn't take it further because I needed to get a good mechanical engineer on board. I had a few pledges though.

Could you expound on your eyeglasses proposal?

[Anonymous]

Addendum:

I had started an eyeglasses proposal several months ago. I didn't take it further because I needed to get a good mechanical engineer on board. I had a few pledges though.

Could you expound on your eyeglasses proposal?

I wanted to bring back an earlier form of eyeglasses called the Pince-Nez, essentially rimless glasses that just sit on the bridge of one's nose. There are modern replicas but they are of piss poor quality. Mine wouldn't be. They would be on par with other industry-standard eyewear.

[abednego]

Atlas,

I admire your ambition!  You remind me of myself 10 years ago.  Recently I have been interviewing for web developers to work on my own project.  I have great ideas and plans for the functionality of sites and the services they will deliver to make Bitcoin better and encourage mainstream adoption.  From my business background I know that to see my ideas realized I must first begin with a sound business plan.

I can see you are getting a lot of flack for your age.  I've been there; the dot com boom came in my teen years and I ran website projects back then for fun and profit.  I fancied myself a fully capable businessman at age 15 and aspired to be a millionaire by 18.  I realized over time it takes a few more years to accomplish that goal!  What I found over time is that harnessing the entrepreneurial spirit young and honing it over various forays is an awesome journey in itself apart from the money.

But in the end... it is still about money.  You can have a cool idea and lots of people in the 90's had plenty of ideas and were given lots of money... but you are too young to remember how much of a disaster that was.  My apologies for invoking your age 

What these dot com failures lacked was a sound business plan and revenue model.  In your prospectus you, like most visionaries with a great idea, devote very little to the fundamental purpose and premise of a business... generating revenue.  In fact, I only find it in one small section where you address it vaguely and almost as a side note to your grand idea.

Fees? How much will an EasyCoin service charge?
Prices will vary from subsidiary-to-subsidiary. Due to our software being open and available
to anyone who wishes to open an EasyCoin service, whether it be for their store or as an
independent payment processor, it will be a competitive environment enabling the lowest costs
and best service possible.

You assume much about how cheap it will be to operate your business and seem to believe that the very nature of Bitcoin and your great idea will magically fund its sustainability.  When someone seriously considering investing in a business reads over a document like yours to consider risking their capital this single aspect will be given the MOST focus.  You cannot expect venture capitalists to be very technical and understand the inner workings of a site... but you can guarantee they understand the principles of finance.

Those are my 0.02 BTC.  You have a great idea.  I look forward to talking to you further about this.

[Anonymous]

Atlas,

I admire your ambition!  You remind me of myself 10 years ago.  Recently I have been interviewing for web developers to work on my own project.  I have great ideas and plans for the functionality of sites and the services they will deliver to make Bitcoin better and encourage mainstream adoption.  From my business background I know that to see my ideas realized I must first begin with a sound business plan.

I can see you are getting a lot of flack for your age.  I've been there; the dot com boom came in my teen years and I ran website projects back then for fun and profit.  I fancied myself a fully capable businessman at age 15 and aspired to be a millionaire by 18.  I realized over time it takes a few more years to accomplish that goal!  What I found over time is that harnessing the entrepreneurial spirit young and honing it over various forays is an awesome journey in itself apart from the money.

But in the end... it is still about money.  You can have a cool idea and lots of people in the 90's had plenty of ideas and were given lots of money... but you are too young to remember how much of a disaster that was.  My apologies for invoking your age  

What these dot com failures lacked was a sound business plan and revenue model.  In your prospectus you, like most visionaries with a great idea, devote very little to the fundamental purpose and premise of a business... generating revenue.  In fact, I only find it in one small section where you address it vaguely and almost as a side note to your grand idea.

Fees? How much will an EasyCoin service charge?
Prices will vary from subsidiary-to-subsidiary. Due to our software being open and available
to anyone who wishes to open an EasyCoin service, whether it be for their store or as an
independent payment processor, it will be a competitive environment enabling the lowest costs
and best service possible.

You assume much about how cheap it will be to operate your business and seem to believe that the very nature of Bitcoin and your great idea will magically fund its sustainability.  When someone seriously considering investing in a business reads over a document like yours to consider risking their capital this single aspect will be given the MOST focus.  You cannot expect venture capitalists to be very technical and understand the inner workings of a site... but you can guarantee they understand the principles of finance.

Those are my 0.02 BTC.  You have a great idea.  I look forward to talking to you further about this.

I am very aware of the fact that a sound business plan is required and that this won't be cheap. I threw out the 20K figure two days ago.

I am also aware of monetary incentive. I thought I have made that clear.

I have yet to provide sound figures but I will. Mind you, this is a mere incomplete (yes, very shallow) draft. I shouldn't of announced this so early.

Anyways, thanks. I hope to speak to you soon. : )

[JeffK]

Atlas,

I admire your ambition!  You remind me of myself 10 years ago.  Recently I have been interviewing for web developers to work on my own project.  I have great ideas and plans for the functionality of sites and the services they will deliver to make Bitcoin better and encourage mainstream adoption.  From my business background I know that to see my ideas realized I must first begin with a sound business plan.

I can see you are getting a lot of flack for your age.  I've been there; the dot com boom came in my teen years and I ran website projects back then for fun and profit.  I fancied myself a fully capable businessman at age 15 and aspired to be a millionaire by 18.  I realized over time it takes a few more years to accomplish that goal!  What I found over time is that harnessing the entrepreneurial spirit young and honing it over various forays is an awesome journey in itself apart from the money.

But in the end... it is still about money.  You can have a cool idea and lots of people in the 90's had plenty of ideas and were given lots of money... but you are too young to remember how much of a disaster that was.  My apologies for invoking your age  

What these dot com failures lacked was a sound business plan and revenue model.  In your prospectus you, like most visionaries with a great idea, devote very little to the fundamental purpose and premise of a business... generating revenue.  In fact, I only find it in one small section where you address it vaguely and almost as a side note to your grand idea.

Fees? How much will an EasyCoin service charge?
Prices will vary from subsidiary-to-subsidiary. Due to our software being open and available
to anyone who wishes to open an EasyCoin service, whether it be for their store or as an
independent payment processor, it will be a competitive environment enabling the lowest costs
and best service possible.

You assume much about how cheap it will be to operate your business and seem to believe that the very nature of Bitcoin and your great idea will magically fund its sustainability.  When someone seriously considering investing in a business reads over a document like yours to consider risking their capital this single aspect will be given the MOST focus.  You cannot expect venture capitalists to be very technical and understand the inner workings of a site... but you can guarantee they understand the principles of finance.

Those are my 0.02 BTC.  You have a great idea.  I look forward to talking to you further about this.

I am very aware of the fact that a sound business plan is required and that this won't be cheap. I threw out the 20K figure two days ago.

I am also aware of monetary incentive. I thought I have made that clear.

I have yet to provide sound figures but I will. Mind you, this is a mere incomplete (yes, very shallow) draft. I shouldn't of announced this so early.

Anyways, thanks. I hope to speak to you soon. : )

Please get some sound figures together so developers like myself can consider throwing out bids.

Also realize that $20,000 USD may be way underestimating for an exchange that handles money. The last similar startup I joined through Hacker News (ycombinator) used about $100,000 in the 6 months I worked there, which was already nearly half a year into the project. I have no idea what the total costs were.

If you are serious about this, both as a business venture and a community project, know that you might have to get a solid resume together and invest in a suit for meeting with investors, since if you want this to be successful you will need solid capital and development backing by professionals.

[JeffK]

As an aside, you may have to get a friend older than 18 to be the lead man on this, as, like other people said, you can't legally enter contracts yet.

[FlipPro]

Atlas you're doing a good job. Keep your head up, this is a good idea !

[Giraffe.BC]

There's still a lot of detail missing from EasyCoin. If there are lots of instances of EasyCoin, how are bitcoins transferred from one instance to another? What's the general architecture? Is there a single point of failure, legally or technically? Is it a truly international currency? What's the advantage of a new currency over simply designing a Bitcoin service layer?

Bitcoins will have to be transferred through the de-facto client in order to get them to other services, which is hardly an issue. The general architecture is cloud-based software. There is no single point of failure if everybody has accessibility to the EasyCoin software.

It's not a new currency. It is a Bitcoin service layer.

More detail will be coming.

I think you'll have an easier time convincing investors with a working demo than with just descriptions.  Can you put your software (executables, not source code, obviously) online somewhere with the payment processing code circumvented so people can see what it will look like to the end user?

[TeraPool]

You may want to look into creating an EasyCoin company if you haven't already.  I don't know the specifics of corporate law, just what I learned from my dad when I was younger (he had his own company for over 10 years)... but a company can help be a good shield from legal issues if it's the right kind.

He's literally asking you to just give him $20k and hope for the best.

Libel. I plan to use methods that make this a legitimate business despite my age. I have never asked for charity nor investment without providing sound and certain value for the investor.

There was a different time in this country where I would be seen as an adult. Most businessmen used to start as early as 14.

Yea, selling newspapers and going door to door making a buck. Like I did.

Not asking for a large investment when I had nothing to prove.

[TeraPool]

HOW MUCH OF YOUR OWN MONEY HAVE YOU PUT INTO THIS VENTURE SO FAR, ATLAS?

I am willing to invest, but not until I know that exact amount.

[Anonymous]

How will this compare to bitwillet ?

http://www.bitwillet.com/

It seems to be almost what you want.

[Anonymous]

When I have it fully elaborated, I'll return to discussing this venture. Stay tuned.