gweedo
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Activity: 1498
Merit: 1000
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June 18, 2014, 02:39:46 PM |
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It looks like they do, they got a chatbox and there is chatter.
I am more concern with how many of those users have deposited money on the service and are using it. |
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RiverBoatBTC
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June 18, 2014, 02:41:51 PM |
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If this helps any it says Total Volume:1.6709 BTC
Total Trades:5737 |
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arbitrage001
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Activity: 1067
Merit: 1000
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June 18, 2014, 03:21:54 PM |
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It looks like they do, they got a chatbox and there is chatter.
I am more concern with how many of those users have deposited money on the service and are using it. The front end looks very nice and impressive. Cost is a little step and monthly profit from fee will not cover operation cost for a while. Gweedo, if you are interested to take over and want to reduce the risk. I am willing to take a small equity stake with partial shareholder right. |
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armin22
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June 18, 2014, 03:29:16 PM |
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It looks like they do, they got a chatbox and there is chatter.
I am more concern with how many of those users have deposited money on the service and are using it. The front end looks very nice and impressive. Cost is a little step and monthly profit from fee will not cover operation cost for a while. Gweedo, if you are interested to take over and want to reduce the risk. I am willing to take a small equity stake with partial shareholder right.Now this is a GREAT IDEA. |
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gweedo
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Activity: 1498
Merit: 1000
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June 18, 2014, 03:39:40 PM |
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It looks like they do, they got a chatbox and there is chatter.
I am more concern with how many of those users have deposited money on the service and are using it. The front end looks very nice and impressive. Cost is a little step and monthly profit from fee will not cover operation cost for a while. Gweedo, if you are interested to take over and want to reduce the risk. I am willing to take a small equity stake with partial shareholder right.Now this is a GREAT IDEA. If someone draws up good terms, and I can throw in for a group buy. |
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armin22
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June 18, 2014, 03:40:37 PM |
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i'd be happy with a group buy.
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RiverBoatBTC
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June 18, 2014, 03:43:45 PM |
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Gweedo would you be willing to the dev? I got a IPO going for it.
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gweedo
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Activity: 1498
Merit: 1000
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June 18, 2014, 03:45:07 PM |
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Gweedo would you be willing to the dev? I got a IPO going for it.
I can dev for a little bit, but I really would rather put money up and be a capital partner. |
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gweedo
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Activity: 1498
Merit: 1000
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June 18, 2014, 03:48:24 PM |
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I would have to read about it. |
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arbitrage001
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Activity: 1067
Merit: 1000
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June 18, 2014, 03:58:09 PM |
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I would have to read about it. The IPO is too expensive with little value added from this auction. |
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AcoinL.L.C
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Activity: 1036
Merit: 1000
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June 18, 2014, 04:12:06 PM |
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Look. Yes, the software is worth more than the opening bid. That doesn't mean shit. People aren't looking to buy the software, they are looking to buy the business. The fact is, is that its a saturated market and that this will not make money at 10BTC. The amount of money that would have to be spent on marketing would be insane. And you say that the exchange hasn't been hacked? Thats because no one has heard of it! The volume is so little no one will spend their time trying to hack it. If this ever gets up there in volume, maintaining security on the site would be a huge issue.
Im sorry, but this is a massive money pit.
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MrWDunne
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June 18, 2014, 04:17:06 PM |
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Look. Yes, the software is worth more than the opening bid. That doesn't mean shit. People aren't looking to buy the software, they are looking to buy the business. The fact is, is that its a saturated market and that this will not make money at 10BTC. The amount of money that would have to be spent on marketing would be insane. And you say that the exchange hasn't been hacked? Thats because no one has heard of it! The volume is so little no one will spend their time trying to hack it. If this ever gets up there in volume, maintaining security on the site would be a huge issue.
Im sorry, but this is a massive money pit.
I'm going to disagree with you. If you're clever you will certainly be able to make this a profitable business. I would take part in this myself, but obviously working on a similar project. |
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AcoinL.L.C
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Activity: 1036
Merit: 1000
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June 18, 2014, 04:25:28 PM |
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Look. Yes, the software is worth more than the opening bid. That doesn't mean shit. People aren't looking to buy the software, they are looking to buy the business. The fact is, is that its a saturated market and that this will not make money at 10BTC. The amount of money that would have to be spent on marketing would be insane. And you say that the exchange hasn't been hacked? Thats because no one has heard of it! The volume is so little no one will spend their time trying to hack it. If this ever gets up there in volume, maintaining security on the site would be a huge issue.
Im sorry, but this is a massive money pit.
I'm going to disagree with you. If you're clever you will certainly be able to make this a profitable business. I would take part in this myself, but obviously working on a similar project. You could make this profitable, thats not the question. The question is how much money do you have to throw at this to make it profitable? This is a huge money sink. Current volume is ~1.6 BTC at day. Say they finally start charging fees, they would make ~$85 a month in fees. Thats a net loss of $415 from just server fee's alone. Your in the hole right off the bat. |
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RiverBoatBTC
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June 18, 2014, 04:40:00 PM |
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They have 0 marketing from as far as I can tell to, so the name is really not worth much.
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coinnext (OP)
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Activity: 112
Merit: 10
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June 18, 2014, 07:31:14 PM |
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They have 0 marketing from as far as I can tell to, so the name is really not worth much.
We actually have been very active marketing wise. We have several advertising campaigns (around 20) running and already pre-paid for (probably around 2K USD total). Around 30% of our visitors are coming through some kind of payed campaign, so that's actually quite reasonable. A few that pop to mind (there are many more) cryptocoincharts.info cryptocointalk.com altcoincalendar.info cryptocoinsnews.com coinmarketcap.com We've partnered with coin developers and have given away around 1-2 BTC worth of free comps. That's a major acquisition channel as well. We also have been highly active on twitter since day one, and have currently 331 genuine followers. Most of the marketing we did however is free. We are currently visible in every community of each coin we have in our market (bitcointalk/reddit/twitter/forum/cryptocointalk). There is probably more I forget to mention now, but the baseline is that on the contrary we have been highly active in the marketing departement. |
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coinnext (OP)
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Activity: 112
Merit: 10
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June 18, 2014, 07:33:56 PM |
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It looks like they do, they got a chatbox and there is chatter.
I am more concern with how many of those users have deposited money on the service and are using it. Currently exactly 1,729+ registered and email verified users. (Note how when I posted this topic less than 24h ago, we only had 1600ish). Over 90% of those users have deposited coins. |
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coinnext (OP)
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Activity: 112
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June 18, 2014, 07:39:49 PM |
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Current volume is ~1.6BTC at day. Say they finally start charging fees, they would make ~$85 a month in fees. Thats a net loss of $415 from just server fee's alone. Your in the hole right off the bat.
I actually got an email from a pretty awesome Bitcoin hosting provider, asking us not to sell and willing to give us free hosting of all our servers to allow us to continue growing without constraints, really a very attractive offer. I think they might be willing to do the same for the buyer so I can always refer the buyer to them. However if $400 per month is a scary lot for you, this might not be the best project to take over, this is really not just a website but a real startup. |
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markj113
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Activity: 2254
Merit: 1043
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June 18, 2014, 07:50:49 PM |
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One thing to consider which im sure many of you haven't, what if the exchange gets hacked and a lot of funds go missing?
All those that join the group buy could be joint liable for the missing funds.
Wouldn't be the first or last time its happened.
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MrWDunne
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June 18, 2014, 08:53:42 PM |
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One thing to consider which im sure many of you haven't, what if the exchange gets hacked and a lot of funds go missing?
All those that join the group buy could be joint liable for the missing funds.
Wouldn't be the first or last time its happened.
1) You're not liable 2) Raise enough funds for a security audit of the code, and servers. As well as a crowdcurity campaign. |
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