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Author Topic: Help cheaper in bitcoins get some capital  (Read 1293 times)
Xenland
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September 20, 2011, 05:22:37 AM
 #1

Okay I can't write alot in this post but I will tell you I'm going to the bank on Wensday to get some small business funding to help cut down the 5 day wait time to ship items out to customers. if you are an investor it is your duty to help spell check and give constructive criticism to this essay to help bankers understand how bitcoins work and why i need then why they are cool, etc ,etc why they profitable ,etc ,etc

anyways here is the paste bin let me know if there is anything to improve on

http://pastebin.com/ykGa9fMg
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Xenland
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September 20, 2011, 06:03:19 AM
 #2

Thanks for that quick response, and the multiple corrections!
ive thought about using glbse for high volume of cash i think the issue is if value in bitcoins go back up anytimei have to pay more to payback all the btc. So i could potentially lose money going that route.
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September 20, 2011, 06:06:07 AM
 #3

I suspect banks will want to know how you are handling know-you-customer laws designed to discourage money laundering and terrorist financing. The obvious (possibly wrong) answer is that it is not "cash" recognized by any government, so does not have to be reported (though apparently jewlery (over a certain value) has to be reported in Canada).

You may also point out that you have sales records with shipping addresses if any authorities come asking questions. The annoymized bitcoin transaction record is also public in the block-chain. Without pinning down exactly what bitcoin is, it may be difficult to know if there are any special regulations you have to follow.

James' OpenPGP public key fingerprint: EB14 9E5B F80C 1F2D 3EBE  0A2F B3DE 81FF 7B9D 5160
Xenland
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September 20, 2011, 06:11:00 AM
 #4

I suspect banks will want to know how you are handling know-you-customer laws designed to discourage money laundering and terrorist financing. The obvious (possibly wrong) answer is that it is not "cash" recognized by any government, so does not have to be reported (though apparently jewlery (over a certain value) has to be reported in Canada).

You may also point out that you have sales records with shipping addresses if any authorities come asking questions. The annoymized bitcoin transaction record is also public in the block-chain. Without pinning down exactly what bitcoin is, it may be difficult to know if there are any special regulations you have to follow.
Thats some good advice! I Already have a print out of all my sales records ready to show them but i didnt think to explain about the blockchain and its integrity!
payb.tc
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September 20, 2011, 06:11:09 AM
 #5

you say: A Bitcoin is a digital currency


i'd say:

Bitcoin is a digital currency

OR

A Bitcoin is a unit of digital currency


...plus:

Its as easy as sending an email but just as safe as any modern day Bank.
It's as easy as sending an email but just as safe as any modern-day bank.


by the way, you might want to do a new updated paste after you've made some of these changes, so that we aren't doubling up on each other's corrections.
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September 20, 2011, 12:17:45 PM
 #6

P5: Cheaper In Bitcoins is an online e-commerce website that provides a wide variety of products to exclusively exclusively to the Bitcoin community and only accept Bitcoins as the only currency for payment of products. only accepts Bitcoins as the currency for payment of products.

P10: Bitcoins is are an excellent example of innovative technology of our time!

... If I wanted to purchase an item that can only be exclusively found in Europe
OR ... If I wanted to purchase an item that can only be is exclusively found in Europe

... there are exchange costs, withdrawl fees, and taxation ...

... can be sent instantly with minimum transaction fees, even high priced transactions are only a few cents(USD).

P12: ... times out of ten its it is the merchants fault ...

... as starts up start-ups often fail ...

P16: Cheaper In Bitcoins is a very lightweight company, We company; we only need ...

P19: ... confirms the funds are their there.    (Or were you saying confirms the funds are theirs?)

P24: {missing punctuation at end of final sentence.}

---

Overall a very nice explanation of your setup.

Have you considered just getting 200 btc from the GLBSE and converting it to USD, and using that as your slush instead of asking for credit from a bank?



P5: Cheaper In Bitcoins is an online e-commerce website that provides a wide variety of products to exclusively exclusively to the Bitcoin community and only accept Bitcoins as the only currency for payment of products. only accepts Bitcoins as the currency for payment of products.


If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
Xenland
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September 20, 2011, 12:37:49 PM
 #7

I'll be posting another paste bin with the corrections and I'd also like to note that I've issued a lot more assets for GLBSE to help with the Dwolla integration as per requested by the current bond investors.
Littleshop
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September 20, 2011, 11:14:34 PM
 #8

Are you ever going to ship my order?

Ben Walsh (beamer)
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September 20, 2011, 11:25:28 PM
 #9

Question for Littleshop ...

Have you previously contacted cheaper in bitcoins regarding this order issue ?

When ?

What response have you received to date ?

Are you ever going to ship my order?

BTC Difficulty Avg Change Google Gadget - http://bit.ly/nWZLkr
How many Bitcoins can I expect to mine ? - http://bitcoindetailedcalculator.appspot.com
BTC Donation Address : 13Wu7W7jmjQot7xnqogHYSmUmR1MzyB3YE
Xenland
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September 20, 2011, 11:33:18 PM
 #10

I don't know who littleshop is but I have a pretty good Idea and all orders went out today!
everyone please check your email and or pms for tracking numbers!
Sorry for the long wait times everyone.


Note: again, i have discontinued products that will take extra shipping work and processing.
krepta3000
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September 21, 2011, 12:07:32 AM
 #11

I love this site!  I wish I could work for you, I'd be a great employee!
Littleshop
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September 21, 2011, 12:10:03 AM
 #12

Question for Littleshop ...

Have you previously contacted cheaper in bitcoins regarding this order issue ?

When ?

What response have you received to date ?

Are you ever going to ship my order?
We have exchanged many emails and had two chat sessions.

I paid on the 6th of sept and my order may have been shipped today.


Ben Walsh (beamer)
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September 21, 2011, 12:19:14 AM
 #13

And your email is ?

Question for Littleshop ...

Have you previously contacted cheaper in bitcoins regarding this order issue ?

When ?

What response have you received to date ?

Are you ever going to ship my order?
We have exchanged many emails and had two chat sessions.

I paid on the 6th of sept and my order may have been shipped today.



BTC Difficulty Avg Change Google Gadget - http://bit.ly/nWZLkr
How many Bitcoins can I expect to mine ? - http://bitcoindetailedcalculator.appspot.com
BTC Donation Address : 13Wu7W7jmjQot7xnqogHYSmUmR1MzyB3YE
Littleshop
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September 21, 2011, 12:28:07 AM
 #14

And your email is ?

Why would I post that here.  Do you represent cheaperinbitcoins ?

Xenland
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September 21, 2011, 12:57:55 AM
 #15

Ben Walsh (beamer)  does not have any affiliation with me even if he did I wouldn't recommend posting your email publicly even if he was.
Littleshop
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September 21, 2011, 01:00:58 AM
 #16

Ok my package has been shipped by the tracking # now.  Looking forward to it.

Ben, contact via forum if needed.

Xenland
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September 21, 2011, 01:49:19 AM
 #17

I love this site!  I wish I could work for you, I'd be a great employee!

Not looking for employees just quite yet. I'll be sure to post about it when I do require some handy work done.
Ben Walsh (beamer)
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September 21, 2011, 06:18:46 AM
 #18

I don't represent cib.

You posted part of a conversation that should have remained private, so I wondered if you would post more.

Looked like Zenland wasn't sure who it was complaining at the time - thought I would help him identify you.
And your email is ?

Why would I post that here.  Do you represent cheaperinbitcoins ?

BTC Difficulty Avg Change Google Gadget - http://bit.ly/nWZLkr
How many Bitcoins can I expect to mine ? - http://bitcoindetailedcalculator.appspot.com
BTC Donation Address : 13Wu7W7jmjQot7xnqogHYSmUmR1MzyB3YE
Xenland
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September 21, 2011, 11:43:48 PM
 #19

Alright went to the bank asked for a line of credit and with out taking any of my information down she asked "How long ive been in bussiness". I told her I went public on september 1st and made X amount of profit in the first two weeks. She then stated that it takes at least a year of building a good enough track record to accepted and then politly stated that I could try to apply but theres no garuntee that it will be accepted. After I asked to look a my credit score, she she te best she could do was 6 months.

So basically what this means is almost nothing. I will use GLBSE for funding the reserve to make shipping proccessing times shorter. All this means in the end is that investors will make alot of momey instead of the bank. Which is how it should be.....

Am I Right?
Xenland
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September 22, 2011, 12:59:35 AM
 #20

Actually i have not givin it much thought but I'm not opposed to the idea. Ill just be honest and say I get a little bit of anxiety just thinking about selling a piece of my bussiness.

I might have to do some research before i offer of course.

What kind of shares did you have in mind?
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