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Author Topic: Safebit is looking for investments...  (Read 2805 times)
Eli
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August 03, 2011, 11:45:50 PM
 #1

I'm working on a presentation to showcase Safebit to investors as an investment opportunity and I'd like to get some yes on the presentation before I wrap it up.

Please let me know what you think, and if you have tips for me, let me know!











For those who are interested in knowing who's behind Safebit:

Safebit is a project started by myself, Eli Sklar - my full real name as registered in Israel
I own a registered company in Israel, the registration number for my company is 514543479
You can check the full details as it is registered in Israel: http://147.237.72.24/WebOJSite/CompaniesDetails.aspx?id=514543479 (Hebrew only, I'm afraid).

This: http://dl.dropbox.com/u/1290056/Gridct.pdf is a signed document by the Israeli Department of Justice that this company does exists and is a registered business in Israel, it's in Hebrew but you'll get the spirit of things...

I can provide any other details that you may need to prove that this is a legit business.
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oyster2000
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August 03, 2011, 11:58:32 PM
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good work, looks good.... just need the members now.......

Eli
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August 04, 2011, 12:38:08 AM
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good work, looks good.... just need the members now.......

You're looking at him...  Roll Eyes
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August 04, 2011, 12:55:29 AM
 #4

How come you didn't show the price blip and dip?

Feel like investing in a Miner?:
http://bitcointalk.org/index.php?topic=30044.msg377773#msg377773
A soup to nuts newbee system for a secure, portable USB wallet (free instructions):
NoobHowTo: http://bitcointalk.org/index.php?topic=27088.msg341387#msg341387
CurbsideProphet
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August 04, 2011, 12:58:17 AM
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I just took a quick glance but I noticed several spelling errors on slide two.  "Indevidual" (twice) and "architectureral."

1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
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August 04, 2011, 03:39:17 AM
 #6

Eli, I think this is great.  This is exactly what Bitcoin needs to help move it more into the mainstream and out of the domain of techies.  You did a nice job on the mock-ups of the UI, it looks very polished.  What tools/languages have you been using for development? 

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August 04, 2011, 06:15:39 AM
 #7

Question: Is this a self install service or a centralized service (i.e., wordpress.com or wordpress.org)?

If it's .org, I wholly support. If it's .com, not in the least bit interested in another centralized service.

founding editor for the SiliconANGLE network.
Bitrated user: rizzn.
Eli
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August 04, 2011, 12:24:27 PM
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How come you didn't show the price blip and dip?

Because for me it's not a representing the overall trend, as you noted it was a blip and dip, these things happen and they are only interesting at the time of their existence, afterwards it's just a tiny anomaly.
Eli
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August 04, 2011, 12:31:01 PM
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Question: Is this a self install service or a centralized service (i.e., wordpress.com or wordpress.org)?

If it's .org, I wholly support. If it's .com, not in the least bit interested in another centralized service.

Like Wordpress - Both.

Safebit remote will allow access to your wallet from anywhere, something like a hosted wallet (not exactly though).
Safebit local will let you use it locally on your own hardware with no strings to the remote service.

It's up to the user to select what kind of security they chose.
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August 04, 2011, 06:53:46 PM
 #10

How come you didn't show the price blip and dip?

Because for me it's not a representing the overall trend, as you noted it was a blip and dip, these things happen and they are only interesting at the time of their existence, afterwards it's just a tiny anomaly.

All of the investors that I have ever done business with take a very dim view of hiding pertinent data.

And if you don't think the blip and dip are important then we think very differently.

Good Luck

Feel like investing in a Miner?:
http://bitcointalk.org/index.php?topic=30044.msg377773#msg377773
A soup to nuts newbee system for a secure, portable USB wallet (free instructions):
NoobHowTo: http://bitcointalk.org/index.php?topic=27088.msg341387#msg341387
Yuvea
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August 04, 2011, 07:40:28 PM
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you need to get someone who knows how to use a spellchecker to go through those slides, it hurts my eyes.
JCbit
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August 04, 2011, 08:21:05 PM
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its gonna be difficult to get users to trust ANY form of online wallet with the mybitcoin fiasco.
how are users to know you just won't pack up and leave with all our btc
Eli
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August 04, 2011, 10:05:10 PM
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its gonna be difficult to get users to trust ANY form of online wallet with the mybitcoin fiasco.
how are users to know you just won't pack up and leave with all our btc

An online wallet is only a part of it, for the most part it's a local wallet designed to work directly from your computer.
Eli
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August 06, 2011, 12:59:31 AM
 #14

How come you didn't show the price blip and dip?

Because for me it's not a representing the overall trend, as you noted it was a blip and dip, these things happen and they are only interesting at the time of their existence, afterwards it's just a tiny anomaly.

All of the investors that I have ever done business with take a very dim view of hiding pertinent data.

And if you don't think the blip and dip are important then we think very differently.

Good Luck


I'm not hiding any data.
The way the numbers are factored in is by taking the first week of every month and looking at the numbers. You can see in [utl=http://www.reddit.com/r/Bitcoin/comments/j423v/im_trying_to_get_some_historical_data_on_bitcoin/]this reddit post[/url] that I've asked about this and got little to no help, and also check out [utl=https://spreadsheets.google.com/spreadsheet/ccc?key=0AsACp255EvXsdFFpMTRmX2lrdHl0aHZ5bHltaGQxVEE&hl=en_US]this google spreadsheet[/url] to take a look at my numbers.

And whether it's important or not - perhaps now it looks important to you, but I believe that if we take things into perspective, it's not going to count much in the near 3-4 months. There were quite a few such blips and dips before and they are simply ignored today because they are not more than a slight change in the historical data, practically unnoticeable. How important they are? I simply don't know...
oyster2000
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August 06, 2011, 02:09:23 AM
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Quote
good work, looks good.... just need the members now.......

man, when i said members

signups

members=signups etc etc

ultraimports
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August 07, 2011, 02:28:36 AM
 #16

How much are you looking to get from investors? Can you or will you take smaller "seed" investors (such as myself?). Have you valuated your company/project yet?
NetTecture
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August 07, 2011, 06:08:05 AM
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How much are you looking to get from investors? Can you or will you take smaller "seed" investors (such as myself?). Have you valuated your company/project yet?

I second that. Could be interesting if that is done properly -as investment.
Eli
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August 07, 2011, 08:42:42 AM
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How much are you looking to get from investors? Can you or will you take smaller "seed" investors (such as myself?). Have you valuated your company/project yet?

I second that. Could be interesting if that is done properly -as investment.

Yes, I'm considering all my options, and a small seed investment is something that is the best way to go.

I'm generally looking to secure around $200-$300k for a year of development, but that's including some (3-4) employees and the general mishmash of managing a full-blown startup, and I have a hard time believing that someone will drop a $200k in advance in a Bitcoin project.

To be more realistic, I need $45 to support myself and the company that I have for around 6 months, and I would really like to have a full time Python developer, that would be around $50-$60k for 6 months as well.
Those sums are not exactly big when it comes to investment, they are not small nonetheless, and my guess is that the investor that takes up the offer will setup some kind of a milestone for two-three months after the initial investment to see where things are going and if they're heading in the right direction, and then invest the extra funds needed.

Regarding valuation, if anyone offers me a $50k check with my companies name on it, I will most probably sign 10% on the spot, for anything other than that, we'll have to discuss about it, and it would probably be a bit more personal (skype/face-to-face meeting).
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August 07, 2011, 08:47:31 AM
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Regarding valuation, if anyone offers me a $50k check with my companies name on it, I will most probably sign 10% on the spot, for anything other than that, we'll have to discuss about it, and it would probably be a bit more personal (skype/face-to-face meeting).

How do you justify your present half a million dollar valuation? Does your power point presentation worth that much or is there something else?


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Eli
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August 07, 2011, 10:09:56 AM
 #20

Regarding valuation, if anyone offers me a $50k check with my companies name on it, I will most probably sign 10% on the spot, for anything other than that, we'll have to discuss about it, and it would probably be a bit more personal (skype/face-to-face meeting).

How do you justify your present half a million dollar valuation? Does your power point presentation worth that much or is there something else?



That's what I'm willing to sign off if offered on the spot, like I said, for other numbers we can have a private talk.

I don't justify the valuation, I need the sum of money presented above, for a period of 6 months and the 10% is what I feel comfortable signing off from my company for that kind of investment, we can talk about shorter terms (2-3 months milestones) and different valuation - again, privately. And I'm open for counter offers that sound more reasonable to you...

Although the project is in its infancy, it does gained some popularity in the 6 weeks that it exists, and I feel like I have a decent plan going with it financially, both for the long and short terms. But I may be wrong an this maybe over estimated, let me know what numbers you had in mind.
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