100bit.co.in - Direct trading exchange - 0.1% fee - Alt coins supported

[Phinnaeus Gage]

Preface: I'm a developer and as a developer I always dreamt of building interesting software business. But sadly I never got support from the bank to move forward with my plan. Now, Bitcoin has given me the freedom to dream again. I wish much more wider acceptance of Bitcoin in coming days.


Failure: My first Bitcoin project was a gambling game (www.100bit.co.in). Inspired by the success of SatoshiBet, PrimeDice etc. I chalked out a plan. I proposed the idea on the board and found a lot of people showing interest to the basic concept of a gambling on blockchain.info data (ref: https://bitcointalk.org/index.php?topic=455724.0). Today was the last day of the game and if you look at the game thread (https://bitcointalk.org/index.php?topic=471521.0), u'll instantly figure out that I was a failure in this project.


Learning: A lot of people can risk 0.01 BTC, but there should be an assured way for everyone of them to win back the bitcoin with profit. That is the reason Ponzi games are so successful over gambling ones !!! One of the participants in the game even mentioned it (https://bitcointalk.org/index.php?topic=471521.msg5287264#msg5287264)


Upcoming Project: I am planning to build a bitcoin club on www.100bit.co.in with the membership model in referral commission distribution. The club will have multiple online services, but membership will be on referral basis and referral commission will be distributed in the upward chain.

Following is what I have decided as of yet.

Membership: n BTC

Direct commission to referrer: x%

Indirect commission distributed in the upward chain: y%


Like the previous project, I want all of your feedback on this idea too. Can it take off ?

It sure does read similar to what I started developing 6 days earlier: https://bitcointalk.org/index.php?topic=517758.0

http://uberkoin.com/ (reverting to http://uberqoin.com/ once in beta)

Hi Bruno... I just read about your project. I think our concepts are somewhat different and it wont clash 

Thanks for the reply, bud. Good luck with your venture.

~Bruno Kucinskas

[newIndia]

Wait a sec, are you suggesting there's a demand for Ponzi/pyramid schemes?

....  huh? 

Unrealistic ideas and dreams,  you need to have a good plan.  Must know marketing.

It is funny to see people throw away comments without reading the thread just to boost their garbage post count, where they'll be paid for constructive post. Dont be hypocrite !!!

[100bitcoin]

This is let u know that our demo of static pages is almost ready and the community will soon get a sneak peak for the same...

[100bitcoin]

This is let u know that our demo of static pages is almost ready and the community will soon get a sneak peak for the same...

Sorry for the delay. You may get to check the basic UI with representing the functionalities at www.100bit.co.in/demo/

[franky1]

im sorry but after 4 months work your 'skeleton' UI looks weak.

i don't recommend anyone using it at all. i smell security weaknesses and potential for loss at every click.

if you are silly enough to sign up. do not use an email address you us for other exchanges and DEFINITELY not the passwords you usually use. many "coming soon" websites are made purely to gather login details in the hope to find one fool that also uses it on another exchange that is funded. or to atleast gather emails to spam you with scams.

[Remember remember the 5th of November]

im sorry but after 4 months work your 'skeleton' UI looks weak.

i don't recommend anyone using it at all. i smell security weaknesses and potential for loss at every click.

if you are silly enough to sign up. do not use an email address you us for other exchanges and DEFINITELY not the passwords you usually use. many "coming soon" websites are made purely to gather login details in the hope to find one fool that also uses it on another exchange that is funded. or to atleast gather emails to spam you with scams.

Really? Speak for yourself, you don't even know the meaning of a capital letter. Don't expect people to take you seriously either.

[franky1]

im sorry but after 4 months work your 'skeleton' UI looks weak.

i don't recommend anyone using it at all. i smell security weaknesses and potential for loss at every click.

if you are silly enough to sign up. do not use an email address you us for other exchanges and DEFINITELY not the passwords you usually use. many "coming soon" websites are made purely to gather login details in the hope to find one fool that also uses it on another exchange that is funded. or to atleast gather emails to spam you with scams.

Really? Speak for yourself, you don't even know the meaning of a capital letter. Don't expect people to take you seriously either.

if the only knit-pick you can find about me is my grammar, then im not worried. as im not asking people to give me their details or funds, have a nice day.

[DutchDemon]

This is let u know that our demo of static pages is almost ready and the community will soon get a sneak peak for the same...

Sorry for the delay. You may get to check the basic UI with representing the functionalities at www.100bit.co.in/demo/

Nice functionalities. Looking forward to the final release...

[RocketSingh]

im sorry but after 4 months work your 'skeleton' UI looks weak.

i don't recommend anyone using it at all. i smell security weaknesses and potential for loss at every click.

if you are silly enough to sign up. do not use an email address you us for other exchanges and DEFINITELY not the passwords you usually use. many "coming soon" websites are made purely to gather login details in the hope to find one fool that also uses it on another exchange that is funded. or to atleast gather emails to spam you with scams.

IMHO UI does not reflect security of a website. It is just a mask to attract customers.

[turvarya]

im sorry but after 4 months work your 'skeleton' UI looks weak.

i don't recommend anyone using it at all. i smell security weaknesses and potential for loss at every click.

if you are silly enough to sign up. do not use an email address you us for other exchanges and DEFINITELY not the passwords you usually use. many "coming soon" websites are made purely to gather login details in the hope to find one fool that also uses it on another exchange that is funded. or to atleast gather emails to spam you with scams.

IMHO UI does not reflect security of a website. It is just a mask to attract customers.

franky1 has a point here. A good security is way harder to establish than a decent UI.
So, when they are not able to get the second right, what makes you think, they got the first right? Trust?

[franky1]

franky1 has a point here. A good security is way harder to establish than a decent UI.
So, when they are not able to get the second right, what makes you think, they got the first right? Trust?

cha ching, this guy gets it.

making a front end look good is simply, and fast to do. but to make a secure backend takes ALOT of effort. so if the site owner is LAZY with the front end, then dont expect detailed and thoroughly checked and robust code behind the scenes

[RocketSingh]

franky1 has a point here. A good security is way harder to establish than a decent UI.
So, when they are not able to get the second right, what makes you think, they got the first right? Trust?

cha ching, this guy gets it.

making a front end look good is simply, and fast to do. but to make a secure backend takes ALOT of effort. so if the site owner is LAZY with the front end, then dont expect detailed and thoroughly checked and robust code behind the scenes

I beg to differ u on this. If u have heard of a scam site called oilrigcontractors.com (now down), they had a superb UI. I have also seen a lot other top level scams sporting superb UI. UI has really nothing to do with site security. Moreover excessive use of JS for beautification makes a site vulnerable to XSS attack. BTC-e also sports a weak UI, but that does not make them an insecure site.

[franky1]

franky1 has a point here. A good security is way harder to establish than a decent UI.
So, when they are not able to get the second right, what makes you think, they got the first right? Trust?

cha ching, this guy gets it.

making a front end look good is simply, and fast to do. but to make a secure backend takes ALOT of effort. so if the site owner is LAZY with the front end, then dont expect detailed and thoroughly checked and robust code behind the scenes

I beg to differ u on this. If u have heard of a scam site called oilrigcontractors.com (now down), they had a superb UI. I have also seen a lot other top level scams sporting superb UI. UI has really nothing to do with site security. Moreover excessive use of JS for beautification makes a site vulnerable to XSS attack. BTC-e also sports a weak UI, but that does not make them an insecure site.

thats my point though. if scammers can make a good UI, and do it in days. then any slap-dash coded UI should be put on a lower trust rating than a scammer.. although this MLM is also a scam, which makes it the low of the low of the low in trust rating.. so as i said, screw it ill just quote it

im sorry but after 4 months work your 'skeleton' UI looks weak.

i don't recommend anyone using it at all. i smell security weaknesses and potential for loss at every click.

if you are silly enough to sign up. do not use an email address you us for other exchanges and DEFINITELY not the passwords you usually use. many "coming soon" websites are made purely to gather login details in the hope to find one fool that also uses it on another exchange that is funded. or to atleast gather emails to spam you with scams.

as for btc-e having a weak UI.. excuse me. they have managed to have the trading, the login, the chat, the tradepairs all there, right on the 'homepage' and also keep it secure. not sure where your calling btc-e weak. im not talking about glamour with shiny GIF's im talking about sloppy basic code, feature lacking on a front end. BTC-E does not have sloppy code, but this MLM does.

im now worried more about why your defending an obvious MLM scam.

[RocketSingh]

franky1 has a point here. A good security is way harder to establish than a decent UI.
So, when they are not able to get the second right, what makes you think, they got the first right? Trust?

cha ching, this guy gets it.

making a front end look good is simply, and fast to do. but to make a secure backend takes ALOT of effort. so if the site owner is LAZY with the front end, then dont expect detailed and thoroughly checked and robust code behind the scenes

I beg to differ u on this. If u have heard of a scam site called oilrigcontractors.com (now down), they had a superb UI. I have also seen a lot other top level scams sporting superb UI. UI has really nothing to do with site security. Moreover excessive use of JS for beautification makes a site vulnerable to XSS attack. BTC-e also sports a weak UI, but that does not make them an insecure site.

thats my point though. if scammers can make a good UI, and do it in days. then any slap-dash coded UI should be put on a lower trust rating than a scammer.. although this MLM is also a scam, which makes it the low of the low of the low in trust rating.. so as i said, screw it ill just quote it

im sorry but after 4 months work your 'skeleton' UI looks weak.

i don't recommend anyone using it at all. i smell security weaknesses and potential for loss at every click.

if you are silly enough to sign up. do not use an email address you us for other exchanges and DEFINITELY not the passwords you usually use. many "coming soon" websites are made purely to gather login details in the hope to find one fool that also uses it on another exchange that is funded. or to atleast gather emails to spam you with scams.

as for btc-e having a weak UI.. excuse me. they have managed to have the trading, the login, the chat, the tradepairs all there, right on the 'homepage' and also keep it secure. not sure where your calling btc-e weak. im not talking about glamour with shiny GIF's im talking about sloppy basic code, feature lacking on a front end. BTC-E does not have sloppy code, but this MLM does.

im now worried more about why your defending an obvious MLM scam.

U have a misconception that MLM = SCAM. Let me tell u that MLM structure of payment to its users which has legit businesses model is absolutely legal. People always confuse MLM with Ponzi as Ponzi also plays on the Pyramid model. But Ponzi pay new investor with old investor's money, whereas MLM pays its marketeers for every new sale where part goes to the direct seller and rest gets distributed in the chain of marketeers by which the end marketeer is attached to the company.

By the way, I wont be defending a business if there's a slightest hint of scam. But calling a business scam before its launch, while it is quite open about its business model is pure unjust. I'm not one of those who'll bang their heads on wall to get Amazon or Ebay to accept Bitcoin. Rather I'd like to see pure Bitcoin companies coming up to create a true Bitcoin ecosystem.

If u like BTC-e UI that is your call. But, accept it or not, compared to CoinBase UI BTC-e is nothing.

[Remember remember the 5th of November]

im sorry but after 4 months work your 'skeleton' UI looks weak.

i don't recommend anyone using it at all. i smell security weaknesses and potential for loss at every click.

if you are silly enough to sign up. do not use an email address you us for other exchanges and DEFINITELY not the passwords you usually use. many "coming soon" websites are made purely to gather login details in the hope to find one fool that also uses it on another exchange that is funded. or to atleast gather emails to spam you with scams.

IMHO UI does not reflect security of a website. It is just a mask to attract customers.

franky1 has a point here. A good security is way harder to establish than a decent UI.
So, when they are not able to get the second right, what makes you think, they got the first right? Trust?

Everybody said Satoshi's coding skills were not that great, you trusted him did you not? Your argument is invalid.
Also, not everybody has the aptitude to be an artist. Designing is very difficult, very. It requires creativity, abstractness, some people do not have these qualities.

[DannyHamilton]

Everybody said Satoshi's coding skills were not that great

They weren't.

you trusted him did you not?

Absolutely not!  Where did you get the idea that any of the early adopters trusted Satoshi?  The code is Open Source for a reason. It allows talented and knowledgeable programmers to look at the code and discover (and fix) any weaknesses.  It allows individuals to determine for themselves if the code will work properly, instead of trusting that it will do what the original designer says they intended for it to do.

Your argument is invalid.

In what way?

Also, not everybody has the aptitude to be an artist.

There is a difference between being an artist and making a reasonable effort with reasonable skill.

Designing is very difficult, very.

And security is also VERY difficult.  The difference is that nobody loses their identity or life savings to a poor aesthetic.

It requires creativity, abstractness, some people do not have these qualities.

Then why would they be trying to create something that requires those qualities.  If you are serious about running a business, then you either need to ahve the skills, or you need to hire people that have the skills.  If you can't make a reasonable effort with reasonable skill, and you don't bring in someone that can, then why should I believe that you did anything else properly at all?

[Remember remember the 5th of November]

Everybody said Satoshi's coding skills were not that great

They weren't.

you trusted him did you not?

Absolutely not!  Where did you get the idea that any of the early adopters trusted Satoshi?

Think about it a bit, Satoshi may or may not have all those millions of coins(I am also aware that he may have destroyed the private keys, but we can't know), that's a lot of money, especially when the price hits new ATHs. You are/will be trusting him that he doesn't dump them. Why would he destroy his creation? I am not saying he will, just saying, you trust him not to do it.

As for creativity, here's an app I created for Android, https://bitcointalk.org/index.php?topic=101612.0. There was no way for me to create a better UI, I just simply can't, not because if technical difficulties, but because of said aptitude, I am not a creative person.

[DannyHamilton]

Think about it a bit, Satoshi may or may not have all those millions of coins(I am also aware that he may have destroyed the private keys, but we can't know), that's a lot of money, especially when the price hits new ATHs. You are/will be trusting him that he doesn't dump them. Why would he destroy his creation? I am not saying he will, just saying, you trust him not to do it.

No, I don't.

He is welcome to dump those coins anytime he likes.

The exchange rate may come down to record low values, and I'll buy up a bunch of really cheap bitcoins.  I'm actually hoping he dumps them.

As for creativity, here's an app I created for Android, https://bitcointalk.org/index.php?topic=101612.0. There was no way for me to create a better UI, I just simply can't, not because if technical difficulties, but because of said aptitude, I am not a creative person.

And as a hobby project for yourself, it's fine.  But I wouldn't pay any of my money for it, and unless I can download , review, and compile the source code for myself I wouldn't trust it on my device.

[serje]

Oh mate ... long time no see ... But I see you did something interesting .... let's hope this one will work out perfectly!

[iluvpie60]

Update July 19, 2014: Pre-Registration has begun. Visit www.100bit.co.in. There is a demo with a skeleton UI without DB connection.

Update April 5, 2014: Project Development Thread: https://bitcointalk.org/index.php?topic=558065.0

Preface: I'm a developer and as a developer I always dreamt of building interesting software business. But sadly I never got support from the bank to move forward with my plan. Now, Bitcoin has given me the freedom to dream again. I wish much more wider acceptance of Bitcoin in coming days.


Failure: My first Bitcoin project was a gambling game (www.100bit.co.in). Inspired by the success of SatoshiBet, PrimeDice etc. I chalked out a plan. I proposed the idea on the board and found a lot of people showing interest to the basic concept of a gambling on blockchain.info data (ref: https://bitcointalk.org/index.php?topic=455724.0). Today was the last day of the game and if you look at the game thread (https://bitcointalk.org/index.php?topic=471521.0), u'll instantly figure out that I was a failure in this project.


Learning: A lot of people can risk 0.01 BTC, but there should be an assured way for everyone of them to win back the bitcoin with profit. That is the reason Ponzi games are so successful over gambling ones !!! One of the participants in the game even mentioned it (https://bitcointalk.org/index.php?topic=471521.msg5287264#msg5287264)


Upcoming Project: I am planning to build a bitcoin club on www.100bit.co.in with the membership model in referral commission distribution. The club will have multiple online services, but membership will be on referral basis and referral commission will be distributed in the upward chain.

Following is what I have decided as of yet.

Membership: n BTC

Direct commission to referrer: x%

Indirect commission distributed in the upward chain: y%


Like the previous project, I want all of your feedback on this idea too. Can it take off ?

I hope you realize actual pyramid schemes are illegal in most countries and they can actually prosecute you, regardless of how it is structured. There are loopholes obviously because some companies still exist(mainly in sales) and get away with it. But they had DAMN good lawyers.