BitCoinTorrentz.com - Torrent Download Service

[terrytibbs]

I suppose that's true.  All I see on DailyBitcoins nowadays is Dragon's Tale, so some variety would be nice.  Of course that depends on the site's visitors not using an ad-blocker, or white-listing the site.

You also have the option of paying for clicks directly, and i could get 100 clicks for 1btc. It's is a more reliable form of advertising, you are always unsure of how many of those impressions will actually convert into visits to the site.

...and how many impressions result in actual purchases.

[mjcmurfy]

I suppose that's true.  All I see on DailyBitcoins nowadays is Dragon's Tale, so some variety would be nice.  Of course that depends on the site's visitors not using an ad-blocker, or white-listing the site.

...and how many impressions result in actual purchases.

Exactly. It's a total gamble. I'd prefer to take the "definitely getting at least some traffic" route. But at the moment, I'm happy to spend the bitcoins just to get people recognizing the brand than. Whether or not they click, or actually use the service, I'm not too worried about right now.

You also have the option of paying for clicks directly, and i could get 100 clicks for 1btc. It's is a more reliable form of advertising, you are always unsure of how many of those impressions will actually convert into visits to the site.

[mjcmurfy]

I have just listed this company on the GLBSE exchange.
Ticker name: BitCoinTorrentz

There are 1000 total shares, I am selling 200 of them @ 0.2 btc.
Let's test the water with this...

[Cory]

I'm always excited when new companies get listed on the GLBSE.

However, the page http://www.bitcointorrentz.com/bylaws.php, listed in the contract, doesn't exist. It would also be great to see a business plan and a chart of your expenses before investing.

[Ben Walsh (beamer)]

Very interesting service.

I will be watching this thread closely before deciding on whether to invest or not.

[mjcmurfy]

I'm always excited when new companies get listed on the GLBSE.

However, the page http://www.bitcointorrentz.com/bylaws.php, listed in the contract, doesn't exist. It would also be great to see a business plan and a chart of your expenses before investing.

Sorry about that, it was a typo in the contract. I have rectified the error in the server filename to reflect the contract.

With regards to my business plan, I'm the first to admit that im not an economist by any means, I am a scientist. But I have done some growth projections and calculated an estimate of total earnings of approximately 250 btc within 12 months. This estimate is based on a conservative growth model of +1 downloads/day/fortnight (downloads per day per fortnight) and a 0.5gb average filesize. Or in other words, an increase of 1 download per day, each fortnight. I think this is a very achievable target, with some expenditure on marketing. Continuing this model into the following 12 months, I predict total earnings in year 2 to be on the order of 700 BTC.

My expenses right now are primarily advertising and marketing of the service to potential new users, referral commissions, and server rental. The total cost of server rental per annum is approximately $1000, but this cost is split between myself and a colleague who uses it for his own, low resource intensive, website interests. This leaves a total server rental costs at approximately $500 per annum (or approximately 100 btc per annum at CURRENT rates).

This looks like a great project, something that gives value to bitcoins.

Do you plan to change prices if the btc/USD value changes significantly? (If yes, What would you consider significant?)

What are your plans for the money raised from the sale of shares?

The cost of the service WILL be modified as the price of bitcoin falls or rises. I have thought hard about this, and ideologically, I would prefer not to do that, but considering expenses must be paid, I am working on a way to automatically set the fee based on a weighted average of the btc/usd price. This is one of many future updates I have in mind.

The money raised from the sale of these shares will be invested in advertising and marketing to the bitcoin-spending community. I am in the process of creating a google adwords campaign to deliver targeted traffic for some related keywords. I am also advertising on dailybitcoins.org, and intend also to list it on operation fabulous. The remains of any proceeds will be used for whatever other capital investments in the site that I see necessary.

[mjcmurfy]

Just an update on my GLBSE listing. Of the 200 original shares I have offered, 102 have already been purchased. There are still 98 available shares remaining at a price of 0.2btc. The reception has been more significant than I had expected.

Here is a link to the BitCoinTorrentz ticker chart on GLBSE:
http://charts.glbse.com/markets/BitCoinTorrentz.html

[mjcmurfy]

Wow... all 200 shares have now been bought, in less than 24 hours! Thank you to everyone who has invested.
Dividends will be paid every 2 months, on the 16th of the month - the date the company was listed on GLBSE.

With this initial capital injection, I intend to market this service intensively. I will also consider obtaining an even faster, gigabit server, which would increase torrent download speeds by a factor of 10. I will wait until the current one has exceeded it's capacity however.

I will keep this thread updated with any news related to this service.

[Bitcoin Swami]

Wow awesome that was fast.

[Bitcoin Oz]

Ive heard the guys at http://lmptfy.com like your idea too.   

Your referral program needs some banners. 

[mjcmurfy]

Ive heard the guys at http://lmptfy.com like your idea too.   

Your referral program needs some banners. 

Yeah, I'm working on the banner thing, but I'm not a graphic designer. So for, I've got:



and



  They need a bit of work...

[marks1976]

Ive heard the guys at http://lmptfy.com like your idea too.   

Your referral program needs some banners. 

Yeah, I'm working on the banner thing, but I'm not a graphic designer. So for, I've got:



and



  They need a bit of work...

I am a shareholder.  Do you think it would be possible to share one of your banners, because helping you is helping me.

[simonk83]

So what's the benefit of using this service over just paying for Usenet?

I do like the idea as far as it getting people to spend bitcoins, but I suppose if you've ever used Usenet, you'd never look back   That said, there are a lot of people out there who aren't savvy enough to move to usenet (or who truly don't want to pay for it, but then those people are out of your target market as well) and are stuck in the old torrent ways, so I suppose you're after those types.

[Bitcoin Swami]

Ive heard the guys at http://lmptfy.com like your idea too.   

Your referral program needs some banners. 

Yeah, I'm working on the banner thing, but I'm not a graphic designer. So for, I've got:



and



  They need a bit of work...

I am a shareholder.  Do you think it would be possible to share one of your banners, because helping you is helping me.

Cant you just copy the banner to your computer and upload it?

[marks1976]

Ive heard the guys at http://lmptfy.com like your idea too.   

Your referral program needs some banners. 

Yeah, I'm working on the banner thing, but I'm not a graphic designer. So for, I've got:



and



  They need a bit of work...

I am a shareholder.  Do you think it would be possible to share one of your banners, because helping you is helping me.

Cant you just copy the banner to your computer and upload it?

I could do that but I didn't create it so I thought it was best to ask.

[Ben Walsh (beamer)]

LOL

No pun intended? ;0)

Ive heard the guys at http://lmptfy.com like your idea too.   

Your referral program needs some banners. 

Yeah, I'm working on the banner thing, but I'm not a graphic designer. So for, I've got:



and



  They need a bit of work...

I am a shareholder.  Do you think it would be possible to share one of your banners, because helping you is helping me.

Cant you just copy the banner to your computer and upload it?

I could do that but I didn't create it so I thought it was best to ask.

[molecular]

I'm not a graphics designer either. I like the banners, but let me make suggestions:

Yeah, I'm working on the banner thing, but I'm not a graphic designer. So for, I've got:

I suggest scaling "TORRENTZ.COM" to the left until the "T" touches the imaginary line of the left side of the "b" above it.

and



  They need a bit of work...

I'm not sure I would use the bitcoin logo as letter "B". Would leave the logo right there, but prepend "B" to "itcointorrentz.com". I know it's used like that on the site (which I like the style of, btw)

"Remote Torrent Download Service": maybe you can use one of the 2 fonts already used? 3 fonts in one banner is quite a lot. Also maybe italicize it, so it doesn't "fight" the "bitcointorrentz.com" above it?

Just my 2 cents, because I'm invested in the company

----

On another note: Isn't this awesome, we have a working stock exchange. And bitcoin makes everything so liquid. One day bitcointorrenz service goes online, next day the company goes public, issuing shares. Less than a day later the public stock is all bought, 40 BTC capital raised. Couple hours later stock is actively being traded. Isn't this just amazing? How long does such a process take in the "old world"?

[molecular]

Cant you just copy the banner to your computer and upload it?

I could do that but I didn't create it so I thought it was best to ask.

I don't think that's a good idea. The banners should be used by linking to whereever site auhtor puts them, imho, so they can be changed by him later. No?

[HostFat]

Homepage:

Donations Weclome



Can you also add support for magnet links?

You could also add a news page, or a twitter widget ... so people will be able to get news from you even if the service goes offline. ( you can also add a link to this dicussion ... )
I can't see a link to the GLBSE thing on your pages, people should know about it ... even if they don't know anything about this forum

[mjcmurfy]

Homepage:

Donations Weclome

Haha. Nice catch! Thanks.

@marks1976: Yeah, sure, no problem mate. Go ahead and use those banners. I would ask that you use the direct link to them from my server however, so if I change them in the future, they will be updated, and you won't have to re-download and re-upload them again. They are rough and ready right now, and I hope to get some more visually appealing banners put together very soon.

@molecular: if you check my sig, the banner that I am using there is a little bit smaller, but I have aligned "torrentz.com" in the way you suggested. I am pretty obsessive. Not sure how that first banner draft escaped my attention. Thanks for the additional suggestions regarding the banners. I will take it all on board.

And yeah, it's absolutely amazing. Two days ago I was just the creator of another bitcoin site, and today I am the CEO of a publicly traded company! Things certainly do move quickly in the bitcoin world! I absolutely love the idea of GLBSE too. Those guys are going to play a key role in the bitcoin economy in the future.