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Author Topic: Bitcoin2Cash.com - Cash-Only Marketplace  (Read 15743 times)
NghtRppr
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April 08, 2011, 06:26:43 AM
 #61

Since you've been doing this for a year, don't you already have a good feel for what's involved and what's a reasonable price?

Not really since all of my trades except for a few people testing the waters were over hundreds of dollars and took place about every other week, the maximum being $1000 at once. This is going to be more of a high volume service (hopefully). However, now that I see that the weak point in my business is the fee, I'll lower it for promotional purposes to $5 (which means people that got $5 in the other promotion will get one cash withdrawal for free), possibly lose some money for a little while but then change it from there once I figure out something that isn't losing me money.

Thank you and thanks to everyone else that's given me constructive input and been humble about it rather than kicking sand in my face.
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The Madhatter
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April 08, 2011, 07:44:48 AM
 #62

Then you have no business giving anyone advice on how to run a business. That's an unnecessary risk which is not the kind of thing an entrepreneur should be doing.

I have ran many large corporations in the past and I've studied law for many years. I'm not a charlatan.

It's only unnecessary if I don't mind putting my personal assets at risk for lawsuits or debts, which I do.

An 'anonymous' customer isn't going to sue and reveal who they are. They are going to complain in public.

When someone uses your service to purchase drugs from Silk Road, expect the police... eventually. (Investigators always follow the money.) Your LLC will not help you at all in this case.

In the highly unlikely event that you do end up in a legal battle, the profits from your service will not cover the legal fees. You'll end up paying them out of pocket anyway. So much for protecting your personal assets, as you'll end up spending them voluntarily.

I've already addressed this. Profit is only one possible motive. The satisfaction of acting superior is another possibility. It's a fallacious reasoning to assume that just because there are little profits to be made that people won't be vindictive for other reasons. Some people just like acting like they are king of the hill.

Good. Profit shouldn't be your motive. There isn't any. This only strengthens my point above.

Thank you and thanks to everyone else that's given me constructive input and been humble about it rather than kicking sand in my face.

Don't be so dramatic. You have been offered suggestions from people who are actually doing large volumes of cash in the mail. We are simply pointing out the pitfalls that you need to be aware of. We want to see Bitcoin successful; just as you do. Getting hostile towards people that are trying to help you is really uncalled for.

Anyway, I wish you the best luck and I won't be participating in the betting.

With no ill will or vexation,
The Madhatter
NghtRppr
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April 08, 2011, 06:27:06 PM
 #63

Then you have no business giving anyone advice on how to run a business. That's an unnecessary risk which is not the kind of thing an entrepreneur should be doing.

I have ran many large corporations in the past and I've studied law for many years. I'm not a charlatan.

I didn't say you were a charlatan. I just said you're taking an unnecessary risk and that's not the kind of thing an entrepreneur should be doing. I'm glad you've studied law. Next, you should study business.


It's only unnecessary if I don't mind putting my personal assets at risk for lawsuits or debts, which I do.

An 'anonymous' customer isn't going to sue and reveal who they are. They are going to complain in public.

When someone uses your service to purchase drugs from Silk Road, expect the police... eventually. (Investigators always follow the money.) Your LLC will not help you at all in this case.

In the highly unlikely event that you do end up in a legal battle, the profits from your service will not cover the legal fees. You'll end up paying them out of pocket anyway. So much for protecting your personal assets, as you'll end up spending them voluntarily.

So because I may or may not voluntarily spend my personal assets therefore I should open myself up to involuntarily losing my personal assets? That's ridiculous. The point is to mitigate or mimimize risk. As an individual, I would be forced to fight a legal battle with my personal assets or get a default judgment and lose my personal assets. As an LLC, I could opt for the default judgment, close the business down permanently and still keep my personal assets.

The longer you talk to me the more it's obvious that your advice is worthless at best and harmful at worst. Please, just stop talking to me. You're advice is unwanted and unneeded. Thanks.
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April 08, 2011, 06:40:53 PM
 #64

Generally, horses are not permitted to bet on their own races. There is nothing to stop you from pretending to remain in business past 45 days just to win the bet.

The offer to bet must be limited to those not involved with your enterprise.

Any takers?

I'll take your bet for 50 BTC.

I think you and MadHatter are right, and I don't think mailing out cash is sustainable, but I think it can last more than 45 days.

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

If bitcoin2cash.com is no longer operating as an exchange 45 days from 2011-04-08, and operation is suspended for a period of more than 30 days, I will pay 50 BTC to nanaimogold.
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (MingW32)

iQEcBAEBAgAGBQJNnoK0AAoJEFiqpQYiVaBu5BoH+wdO5IWYKghgl5xq4/MlUo9H
D7tc9umQoykGuHyBf1PZ0lTvekJNA1n1gwGiLSb7uIkp3MyGBZvCMlzAQ/5rmfc2
iqTVHHGuuDjSSj3eI075w6OX53jgZR6uXE8pD6BFbfA8NCFUDuU9777gIDlByjkc
p/otX3l1TRWYSS/e8HN0I2JuWg8x7xGyIbqu8XdN/kOBdSLVkgU7/siMQV1mpS6V
/x7Q9t8TPhyf54Ps558uMGaP9PPQ2JsvNP8uN6gQP1E8ZVcEQunFXzOMLS36WEEr
QhpnjBw99EI2mwifapeUqAJY5uRoUtg4/8IkEylERNPvqufZhXRzpXGF9M+D66U=
=TM2g
-----END PGP SIGNATURE-----


In spirit I accept this wager but practically we need some standard of proof. I can't think of any way to be sure that he is doing any trades.

Until we can agree on that, I can't see this working. Ideas?

S

https://www.nanaimogold.com/ - World's first bitcoin exchange service
NghtRppr
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April 08, 2011, 06:45:11 PM
 #65

I can't think of any way to be sure that he is doing any trades.

How about, doing a trade?
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April 08, 2011, 06:47:36 PM
 #66

The funniest part is that I've already been in business since July of 2010. This is just a site redesign. It's not really a new service other than the automation. I've been sending/receiving cash for quite a while now.

Here's proof: http://bitcointalk.org/index.php?topic=1303.msg17158#msg17158

Maybe I shouldn't have said anything but I can't, in good conscience, let you take nanaimogold's money like that. Unless of course, it's me doing it.  Cool

Yes, I remember. You are that address in Alabama that some folks complained was losing mail. You were not trying to mail out cash (only receive it) until now. As I recall, we suggested that you not use the word "cash" on your mail.

Anyway, I'm not interested in spending time discovering your past. You are not going to succeed in mailing cash to people. In the least you will get joed and your reputation smeared.

Good Luck!

https://www.nanaimogold.com/ - World's first bitcoin exchange service
NghtRppr
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April 08, 2011, 07:06:42 PM
 #67

You were not trying to mail out cash (only receive it) until now.

The name of my business is bitcoin2cash... bitcoin to cash... you turn bitcoins into cash... you give me bitcoins, I give you cash... by mail.

Here's the google cache as evidence: http://webcache.googleusercontent.com/search?q=cache:f00HWY8tmVAJ:bitcoin2cash.com

If you don't know what you're talking about then don't make wild assertions. It only makes you look ignorant.
The Madhatter
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April 09, 2011, 04:03:49 AM
 #68

I'm glad you've studied law. Next, you should study business.

The study of commercial law includes the studying of business if you branch out far enough. You seem to know how much law I've studied. I'm in complete awe at your false assumptions.

So because I may or may not voluntarily spend my personal assets therefore I should open myself up to
involuntarily losing my personal assets? That's ridiculous. The point is to mitigate or mimimize risk. As an individual, I would be forced to fight a legal battle with my personal assets or get a default judgment and lose my personal assets. As an LLC, I could opt for the default judgment, close the business down permanently and still keep my personal assets.

You're assuming that you are, in fact, sued by an 'anonymous' customer. You're also assuming that it isn't some government agency wielding a criminal charge/investigation. If both *highly* unlikely statements are true, you would be right.

What plans do you have for your active customers if you opt for a default judgment? Return the cash? Lose it all to lawyers? I'm sure your customers would like to know.

The longer you talk to me the more it's obvious that your advice is worthless at best and harmful at worst. Please, just stop talking to me. You're advice is unwanted and unneeded. Thanks.

Actually, it is educational to everyone who cares to read it. You are thinking only of yourself.
NghtRppr
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April 09, 2011, 04:11:35 AM
 #69

I'm glad you've studied law. Next, you should study business.

The study of commercial law includes the studying of business if you branch out far enough. You seem to know how much law I've studied. I'm in complete awe at your false assumptions.

So because I may or may not voluntarily spend my personal assets therefore I should open myself up to
involuntarily losing my personal assets? That's ridiculous. The point is to mitigate or mimimize risk. As an individual, I would be forced to fight a legal battle with my personal assets or get a default judgment and lose my personal assets. As an LLC, I could opt for the default judgment, close the business down permanently and still keep my personal assets.

You're assuming that you are, in fact, sued by an 'anonymous' customer. You're also assuming that it isn't some government agency wielding a criminal charge/investigation. If both *highly* unlikely statements are true, you would be right.

What plans do you have for your active customers if you opt for a default judgment? Return the cash? Lose it all to lawyers? I'm sure your customers would like to know.

The longer you talk to me the more it's obvious that your advice is worthless at best and harmful at worst. Please, just stop talking to me. You're advice is unwanted and unneeded. Thanks.

Actually, it is educational to everyone who cares to read it. You are thinking only of yourself.


Don't care. Didn't read it. Now ignoring you. Bye.
The Madhatter
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April 09, 2011, 04:12:37 AM
 #70

Quote
Don't care. Didn't read it. Now ignoring you. Bye.

How childish.
The Madhatter
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April 09, 2011, 05:07:11 AM
 #71

In spirit I accept this wager but practically we need some standard of proof. I can't think of any way to be sure that he is doing any trades.

As a side note: does anyone know what happened to BitPredict (Bitcoin Prediction Market)?
kiba
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April 09, 2011, 05:22:27 AM
 #72


As a side note: does anyone know what happened to BitPredict (Bitcoin Prediction Market)?

It didn't went anywhere. The owner I was working with is inactive. In any case, I should talk to him about the project and how to proceed.(I got paid a long time ago but I should be responsible for what I produced even if he gave me no deadline and no discipline)

The project is open source and I don't give up very easily. Eventually, I will return to the project.

P.S. For those who are worried about my ability to complete the Automata RTS project, I will have a completed project soon(http://jstet.kibabase.com/jstet.html for those who's interested) that demonstrate my ability to complete projects despite no discipline and deadline. I will deliver a roadmap that will details what I want to complete, though I don't know how long the project will take to mature to beta and that will be my deadline. Blogging about my progress each day will be my discipline.

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April 09, 2011, 05:40:32 AM
 #73

I can't seem to login... I just put my gmail email in there right? ie: xxxxxx@gmail.com?

167q1CHgVjzLCwQwQvJ3tRMUCrjfqvSznd Donations are welcome Smiley Please be kind if I helped
NghtRppr
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April 09, 2011, 05:56:48 AM
 #74

I can't seem to login... I just put my gmail email in there right? ie: xxxxxx@gmail.com?

No, you put in https://www.google.com/accounts/o8/id because we will never know your email address, only a random string that Google sends back after you login.
nster
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April 09, 2011, 06:06:36 AM
 #75

I can't seem to login... I just put my gmail email in there right? ie: xxxxxx@gmail.com?

No, you put in https://www.google.com/accounts/o8/id because we will never know your email address, only a random string that Google sends back after you login.

 Embarrassed

167q1CHgVjzLCwQwQvJ3tRMUCrjfqvSznd Donations are welcome Smiley Please be kind if I helped
NghtRppr
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April 09, 2011, 06:17:02 AM
 #76

I can't seem to login... I just put my gmail email in there right? ie: xxxxxx@gmail.com?

No, you put in https://www.google.com/accounts/o8/id because we will never know your email address, only a random string that Google sends back after you login.

 Embarrassed

What's wrong?
nster
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April 09, 2011, 06:19:14 AM
 #77

I can't seem to login... I just put my gmail email in there right? ie: xxxxxx@gmail.com?

No, you put in https://www.google.com/accounts/o8/id because we will never know your email address, only a random string that Google sends back after you login.

 Embarrassed

What's wrong?

nothing, just embarassed

167q1CHgVjzLCwQwQvJ3tRMUCrjfqvSznd Donations are welcome Smiley Please be kind if I helped
NghtRppr
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April 09, 2011, 06:48:49 AM
 #78

I can't seem to login... I just put my gmail email in there right? ie: xxxxxx@gmail.com?

No, you put in https://www.google.com/accounts/o8/id because we will never know your email address, only a random string that Google sends back after you login.

 Embarrassed

What's wrong?

nothing, just embarassed

Oh, well there's no need. OpenID is still not that popular even though lots of big names are backing it. It's no surprise that a lot of people aren't used to it.
BitterTea
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April 09, 2011, 03:07:55 PM
 #79

In spirit I accept this wager but practically we need some standard of proof. I can't think of any way to be sure that he is doing any trades.

Until we can agree on that, I can't see this working. Ideas?

S

I'll attempt to perform an exchange after 45 days.
NghtRppr
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April 12, 2011, 08:52:59 AM
 #80

Why OpenID?

Also, I forgot to mention that if you use Google's version of OpenID with your Google account you can have two-factor authentication which makes this the most secure exchange at the moment, unless someone else has two-factor authentication or is also using OpenID.

Read more about it: http://googleblog.blogspot.com/2011/02/advanced-sign-in-security-for-your.html

Also, Google provides the ability to use one-time-passwords which is useful if you need to use an insecure network or a limited browser.

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