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Author Topic: Presenting EasyCoin, Now as an Investment Opportunity!  (Read 6056 times)
Jalum
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July 04, 2011, 10:54:23 PM
 #21

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.
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July 04, 2011, 10:57:51 PM
 #22

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
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July 05, 2011, 01:46:03 AM
 #23

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.
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July 05, 2011, 04:26:28 AM
 #24

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.
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July 05, 2011, 05:21:58 AM
 #25

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.
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July 05, 2011, 06:04:40 AM
 #26

Well make sure you tout EasyCoin's ease-of-use - as opposed to "ease-of-us."
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July 05, 2011, 12:03:40 PM
 #27

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
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July 05, 2011, 02:14:51 PM
 #28

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
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July 05, 2011, 02:16:19 PM
 #29

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
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July 05, 2011, 02:59:23 PM
 #30


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").
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July 05, 2011, 03:06:00 PM
 #31


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
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July 05, 2011, 03:38:56 PM
 #32

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
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July 05, 2011, 05:23:57 PM
 #33

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
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July 05, 2011, 07:14:44 PM
 #34

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.
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July 05, 2011, 08:04:14 PM
 #35

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  Tongue

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.

Quote
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.

http://consultcoin.com
Electronic Wealth Consulting
Anonymous
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July 05, 2011, 08:34:36 PM
 #36

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  Tongue

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.

Quote
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. : )
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July 06, 2011, 01:13:04 AM
 #37

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  Tongue

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.

Quote
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.
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July 06, 2011, 01:14:55 AM
 #38

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.
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July 06, 2011, 03:41:08 AM
 #39

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

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July 07, 2011, 03:59:00 AM
 #40

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?

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