[Crowd Fund] Looking for investors, Awesome Bitcoin game - Monthly Distribution

[evershawn]

Can a mod please move this to the appropriate forum? I'm being told that securities is a better spot for this.

Reposted for self moderation to prevent forum trolls from derailing.

I have an AWESOME new Bitcoin game that I need some help building and I'm going to try to see if crowd funding will work to make that happen. This game is completely original and it's absolutely guaranteed to be a hit. I will be doing phone calls and giving a break down of the specifics to qualified potential investors. I do not wish to release the business plan to the general public at this early stage but I will be covering things with far greater detail with individual investors by phone.

I am attempting to raise a total of 700 BTC for a 40% share in the company. The minimum entry amount per investor will be 2.5 BTC. As soon as the 700 BTC goal is reached, we will take on no more investors because I believe we will have enough seed money to be able to develop and market a robust, bug free and extremely popular active game that is seeing impressive ROI. Investors will receive a 40% distribution each month of the game profit based on the percentage of your investment to the 700 BTC goal. Once the company has a positive cash flow investors can 'cash in' their share at any time and receive their entire original investment back as well as keep all distributions they have received until that point. Investors can also sell / transfer their share at any point. All investors will get a monthly report outlining the financials, milestones and future goals.

The investment will be used for:

-2 Full time programmers for development (3 months)
-1 Full time designer
-6 Months 1 Full time programmer (post beta) for on going development, optimization and bugs
-6 Months of Customer Service (tbd)
-6 Months of Marketing and Advertising
-6 Months of Staffing as needed
-Misc costs of running the business such as rent / utilities, hosting, legal and other bills

I believe the game will be profitable in far less time (and you will too when you hear what it is) but I'm planning a safe road.

I am a US resident and I have built, run and managed many companies in the past. One of them being very similar to this.

I will ask that all potential investors be prepared to sign an NDA since it is very early on and the last thing we need is someone trying to clone this

Please PM me if you're interested so we can set up a call and I can get in to more details with you.

Thanks!

[evershawn]

Posting answers to some of the more serious questions:

Quote from: Vod

I am attempting to raise a total of 700 BTC for a 40% share in the company.

That doesn't seem right.  Who gets the other 60%?  An idea alone is worth 10%-20% max.

Based on what? I didn't say it was just an idea alone. I'm bringing in some proprietary code, management, intellectual property, and other assets. Some of the other % would go to helping recruit executive members of the team and forming future partnerships.

Each deal is unique in my opinion. If I have to raise the ante to get the investment required, I many do that. I don't personally feel it would require giving away 80%+ of the company with a crowd fund type of fund raise. Look at all of the other successful recent crowd funded projects that have given away FAR less. Also, doing monthly distributions is a major perk for any investor.

[evershawn]

Quote from ruru:

You are asking for 700 BTC for 40% of the company which means you're valuing your company at BTC 1,750.00 or approximately $1,100,00.00 at today's prices. It's time to ask some preliminary questions.

What are your revenue and profit projections?

How do you justify your valuation?

How much money are you putting into venture yourself?

How would you mitigate risk if bitcoin price appreciates significantly in value? ie, $2000.00/ BTC in the near future. Surely, this would negatively affect the wagered amount, yes?

How would you deal with NYC's proposed regulatory framework and Canada's bitcoin law requiring foreign business to register with FINTRAC?

Do you really need to hire so many people? By your list there's about 10 people you're planning to hire. You mentioned "executives" what does it mean? Just-Dice.com was exceedingly successful in it's lifetime and was run by 1 person. How would your game compare against Just-Dice's?

Last hint is.. unless your site is so groundbreaking that people are gonna want to copy them, ie. Satoshi Dice and Just-Dice, you might as well tell us the plan right now. Ideas are dime a dozen; execution is what matters.

Since you asked so many questions, let's try to break each one down:

1) What are your revenue and profit projections? - I will use USD equivalents to keep math simple: 5 million in the first year, 40% of that profit

2) How much money are you putting into venture yourself? - Already 200k USD in

3) How would you mitigate risk if bitcoin price appreciates significantly in value? ie, $2000.00/ BTC in the near future. Surely, this would negatively affect the wagered amount, yes? Absolutely and it's totally built in to the model perfectly so that BTC fluctuation has ZERO negative impact for prices moving up or down. The method here is genius and it will be shared with investors as part of the deck pitch.

4) How would you deal with NYC's proposed regulatory framework? I wouldn't operate in NYC, as NYC regulation only applies to NYC companies, this is a non-issue.

5) Canada's bitcoin law requiring foreign business to register with FINTRAC? Pretty sure that Canada cannot impose laws on US businesses nor would it apply this this one but should it be worthwhile and feasible to comply then we would. There's no firm decision on this one way or another at this point but really does not matter much. Also, these new proposed measures are meant to control bitcoin holding companies / exchanges, not so much games and businesses that just accept Bitcoin for payment.

6) Do you really need to hire so many people? By your list there's about 10 people you're planning to hire. You mentioned "executives" what does it mean? Just-Dice.com was exceedingly successful in it's lifetime and was run by 1 person. How would your game compare against Just-Dice's? Again, you have multiple questions here masquerading as one, let me try to answer them: Just-Dice is not comparable. It was just a copy of another idea "Satoshi's Dice" and there's loads of people that cloned the idea. I don't think it was successful. It had slim profits and the next new clone was the same thing with even more slim profits. The game itself was boring and simple (Yet people played it, so imagine a real fun game) The people on the initial list are just core team members needed to run the company. This is estimated and the ideal for the companies needs based on my past experience. This is not comparable to a 'Just-Dice' game. This has some actual effort put in to building it and it's not an odds calculator that plays on a chance slightly in house favor. I seem to remember a guy putting these little dice games out of business and investor dollars getting taken. That CANNOT happen here. This is a REAL game and has NOTHING to do with house odds. It's player vs player and house takes a rake and some other fee's (no it's not poker or any other card game, casino game or gambling game, the game is a completely NEW game, never done before by anyone. I invented it). Executives mean that later I will be recruiting an all-star team of executives to sit on the board of this company and help me run and propel it forward even further. To get quality executives, you typically need to give up a piece of the company, so I am reserving some of the company equity for that.

7) Last hint is.. unless your site is so groundbreaking that people are gonna want to copy them, ie. Satoshi Dice and Just-Dice, you might as well tell us the plan right now. Ideas are dime a dozen; execution is what matters. Here's YOUR hint - it is ground breaking and people would absolutely copy it. This is why I need to be the first to market with force and dollar backing otherwise I would just do this on my own and keep 100% of the company to myself. My biggest fear is that someone with more dollars than I have comes in and is able to look like the first to market even though it was just a copy of my original game. I want to avoid that and I am willing to give up 40% in order to make that happen.

[bridgesro]

7) Last hint is.. unless your site is so groundbreaking that people are gonna want to copy them, ie. Satoshi Dice and Just-Dice, you might as well tell us the plan right now. Ideas are dime a dozen; execution is what matters. Here's YOUR hint - it is ground breaking and people would absolutely copy it. This is why I need to be the first to market with force and dollar backing otherwise I would just do this on my own and keep 100% of the company to myself. My biggest fear is that someone with more dollars than I have comes in and is able to look like the first to market even though it was just a copy of my original game. I want to avoid that and I am willing to give up 40% in order to make that happen.

I'm going to quote what I posted in a different topic since it addresses the same concern:

You may be able to stop other people from beating you to market, but you can't stop them from coming in once you've launched. If your idea can be easily replicated, what's to stop established players in the industry from copying your idea and providing it to the market? This is competition that probably has more resources at their disposal. Even if you get your idea out there first, will you be able to hold on to your market share after the competition starts moving in on what you've introduced?

Don't get me wrong: I'm not trying to be critical. If I am, I mean it as constructive criticism. Make sure you have a plan in place to differentiate yourself from your competition. Do whatever you can to protect your idea from copycats that can reach a larger audience than you (or worse, steal your own audience before you really take off). If this can't be done, you'll have a hard time finding an investor.

Being the first to market doesn't always equate to success. It's common in history for the first of something to be eclipsed by the first imitator or improvement of the formula from someone else. How can your game be protected against your competitors if they decide to move in on it?

Another general question that I don't think should involve you needing to provide too much information at this stage: what platform will this game be on? You predict $5 million first year revenue: what will the source of this revenue be? (i.e. game sales, in-game advertisements, micro-payments, etc.)

Lastly, you also mentioned that you've started and managed other businesses in the past. Can you provide more details about these businesses and what became of them?

Like I said to the other guy in the post I quoted here, I don't mean to be critical; these are questions I can see big investors asking before they provide such large amounts of money for your company. Make sure you have all of your bases covered. Good luck!

[evershawn]

7) Last hint is.. unless your site is so groundbreaking that people are gonna want to copy them, ie. Satoshi Dice and Just-Dice, you might as well tell us the plan right now. Ideas are dime a dozen; execution is what matters. Here's YOUR hint - it is ground breaking and people would absolutely copy it. This is why I need to be the first to market with force and dollar backing otherwise I would just do this on my own and keep 100% of the company to myself. My biggest fear is that someone with more dollars than I have comes in and is able to look like the first to market even though it was just a copy of my original game. I want to avoid that and I am willing to give up 40% in order to make that happen.

I'm going to quote what I posted in a different topic since it addresses the same concern:

You may be able to stop other people from beating you to market, but you can't stop them from coming in once you've launched. If your idea can be easily replicated, what's to stop established players in the industry from copying your idea and providing it to the market? This is competition that probably has more resources at their disposal. Even if you get your idea out there first, will you be able to hold on to your market share after the competition starts moving in on what you've introduced?

Don't get me wrong: I'm not trying to be critical. If I am, I mean it as constructive criticism. Make sure you have a plan in place to differentiate yourself from your competition. Do whatever you can to protect your idea from copycats that can reach a larger audience than you (or worse, steal your own audience before you really take off). If this can't be done, you'll have a hard time finding an investor.

Being the first to market doesn't always equate to success. It's common in history for the first of something to be eclipsed by the first imitator or improvement of the formula from someone else. How can your game be protected against your competitors if they decide to move in on it?

Another general question that I don't think should involve you needing to provide too much information at this stage: what platform will this game be on? You predict $5 million first year revenue: what will the source of this revenue be? (i.e. game sales, in-game advertisements, micro-payments, etc.)

Lastly, you also mentioned that you've started and managed other businesses in the past. Can you provide more details about these businesses and what became of them?

Like I said to the other guy in the post I quoted here, I don't mean to be critical; these are questions I can see big investors asking before they provide such large amounts of money for your company. Make sure you have all of your bases covered. Good luck!

Again, this is not a simple game, so I would not call it 'easy' to replicate, but anything can be replicated. So it's not like just-dice that some guy can go build in 2 weeks and have a clone. The game is a lot more complicated and it relies heavily on well optimized and complicated code. It's by no means a simple concept like just-dice. At the same time, this is also my own biggest problem, because if I do not have the resources to get my bugs worked out and game stable and optimized once the cat is out of the bag, then I'm not going to seem like the originator of this idea. First to market is a MAJOR advantage in any industry. I want to make sure that is me. I want to have the best and most bug free and well optimized code out as well as a strong marketing push so I can ensure investors are getting a great ROI and my game is making headlines.

The game will be in browser. It's not a game you need to download or buy a copy of. The concept is very easy to understand and there's no real learning curve or tutorial necessary to understand it.

Largest source of the revenue will be from each game, there's a house rake. Without giving away too much: The longer the game goes on, the more players are enticed to participate and the harder it is for the involved players to stop playing. It's rather addictive and this part of that is already proven and easily demonstrated in the investor deck. The longer the game, the larger the house rake. As more players join the site / game, revenue grows exponentiatlly.

Other revenue sources would come from site fee's for certain things as well as referrals to partner sites (for example, we don't take or deal with fiat currency, and if you need crypto, you'd visit a referral site to get fiat changed to crypto).

Regarding my resume, happily talk about that with investors. Call me shy, but I don't like posting that to everyone on the WWW. I don't plan on keeping it a secret from investors but don't feel it's necessary to be that specific on a public forum.

[Vod]

So the OP wants everything paid for, including a salary for himself, but also wants to keep 60% of the company.   

Since you will delete this post, the only way I can warn others is by using the trust feature of the forum.

[evershawn]

So the OP wants everything paid for, including a salary for himself, but also wants to keep 60% of the company.   

Since you will delete this post, the only way I can warn others is by using the trust feature of the forum.

Wow, are you serious?

I have answered every question and I have not deleted any post that was not just trolling or off topic. I in fact answered your questions and I have scammed no one and you label me as a scammer using the trust system? I have done nothing to you or any one else to deserve such a thing.

I have every right to ask for any amount I want for equity in MY company. If people don't want to pay that, no one is forcing them to do so. The only person that is blatantly wrong and abusive here, is you.

[Vod]

Well, I was going to remove it if you didn't delete my post.

However, I see you have labelled me a scammer for some reason, so I guess we are even.

[evershawn]

Well, I was going to remove it if you didn't delete my post.

However, I see you have labelled me a scammer for some reason, so I guess we are even.

Your post was the first one I reposted in this new thread. You expect that I'm not going to return negative feedback when you unfairly give it to me?

The fact that you'd do something like that to me without any real reason or cause other than move my topic to self moderated because people were trolling and making useless and off topic comments in the other means that you're clearly someone that people SHOULD NOT rely on for any trustworthy information or assistance. I will make sure to get the word out and use this as an example until your feedback is removed.

[Vod]

I don't give feedback unfairly, unlike you.

You are valuing your idea alone at $300,000.  You can't claim any of that as your time either, since you want to pay yourself a salary on top of it.  

That makes you extremely untrustworthy in my book, so I left the appropriate feedback for those that may not take the time to investigate properly.  Everyone else is free to form their own opinion.

[evershawn]

I don't give feedback unfairly, unlike you.

You are valuing your idea alone at $300,000.  You can't claim any of that as your time either, since you want to pay yourself a salary on top of it.  

That makes you extremely untrustworthy in my book, so I left the appropriate feedback for those that may not take the time to investigate properly.  Everyone else is free to form their own opinion.

The most funny part about this: No where do I say anything about paying myself some salary. You make assumptions and come to conclusions based in information that does not exist. I clearly explained what my goals are and what my plans are for other equity but you conveniently ignored it and came to conclusions based on non-existent facts of your own.

You go around soliciting feedback from actual trust worthy members of this forum by posing as someone trying to be helpful when in reality you're abusive, uninformed and over zealous.

I've been on this forum for a while, never ripped anyone off and made lots of trades. Never done anything but honest business. If you think my equity price is too high, you can state that or tell people that's how you feel, how ever uninformed and inaccurate your OPINION is. I got no problem with that, everyone's entitled to an opinion. But when you start leaving me red negative trust marks and I've answered all your questions publicly, it shows your true colors. You are nothing more than an abusive person that's probably been bullied around in life and feel like this is your opportunity to return that back on society while you hide behind your computer monitor.

[evershawn]

I didn't think you'd have much of a response to that. Cat got your tongue? Where are you getting your facts from because it's clearly not from anything that I've stated.

Freaken Jerk off.

[Vod]

I didn't think you'd have much of a response to that. Cat got your tongue? Where are you getting your facts from because it's clearly not from anything that I've stated.

Freaken Jerk off.

Why bother replying?  You'll just delete my words.   

[evershawn]

I didn't think you'd have much of a response to that. Cat got your tongue? Where are you getting your facts from because it's clearly not from anything that I've stated.

Freaken Jerk off.

Why bother replying?  You'll just delete my words.   

Wow, are you a liar too? Have I deleted any of this arguement? The only thing I've ever deleted is just trolling stuff from other people that had nothing to do with this. I've answered every question here and I haven't ducked anything.

You sound like some little kid that get's his kicks out of harassing people. Now you've also proven to be a liar saying I deleted your comments.

[Vod]

I didn't think you'd have much of a response to that. Cat got your tongue? Where are you getting your facts from because it's clearly not from anything that I've stated.

Freaken Jerk off.

Why bother replying?  You'll just delete my words.  

Wow, are you a liar too? Have I deleted any of this arguement? The only thing I've ever deleted is just trolling stuff from other people that had nothing to do with this. I've answered every question here and I haven't ducked anything.

You sound like some little kid that get's his kicks out of harassing people. Now you've also proven to be a liar saying I deleted your comments.

You need to re-read my words and understand their context.  No where did I say you deleted my words.  I said you will.  No lie at all.     I'm not going to waste time beating your arguments when you can delete all my work with just a click.  Sorry.

Now you can have your temper tantrum and call me every name in the book.  I'm done with you.  

[evershawn]

I didn't think you'd have much of a response to that. Cat got your tongue? Where are you getting your facts from because it's clearly not from anything that I've stated.

Freaken Jerk off.

Why bother replying?  You'll just delete my words.   

The only truth here is that you're speechless to respond to any of the facts I've pointed out.

I'm removing my negative feedback for you. There's no point in degrading to the same abuse of the feedback system that you have. I did that in retaliatory anger. I've opened a thread on you to discuss with more prominent members of this community. So far everyone agrees that your feedback and wrong, undeserved and abusive. So hopefully you get served up with you've got coming by REAL trusted members of this community and can rate you down to where you need to be.

[Jaaawsh]

Don't remove negative feedback from him, he deserves it, You're one of the MANY people he has abused with his positive trust. Help take it down so he can't do it to anyone else!

[evershawn]

I didn't think you'd have much of a response to that. Cat got your tongue? Where are you getting your facts from because it's clearly not from anything that I've stated.

Freaken Jerk off.

Why bother replying?  You'll just delete my words.  

Wow, are you a liar too? Have I deleted any of this arguement? The only thing I've ever deleted is just trolling stuff from other people that had nothing to do with this. I've answered every question here and I haven't ducked anything.

You sound like some little kid that get's his kicks out of harassing people. Now you've also proven to be a liar saying I deleted your comments.

You need to re-read my words and understand their context.  No where did I say you deleted my words.  I said you will.  No lie at all.     I'm not going to waste time beating your arguments when you can delete all my work with just a click.  Sorry.

Now you can have your temper tantrum and call me every name in the book.  I'm done with you.  

Let me fix your statement for you:

You're not going to waste your time trying to answer questions back at you which have no good answer, like where I discussed anything about paying myself a salary which was the BASIS for your negative trust rating....

[Vod]

So far everyone agrees that your feedback and wrong, undeserved and abusive.

You reading the same thread I am?  I don't see that at all.

Anyway, thank you for showing everyone how you would react should things not go the way you plan in this business.  You are an immature hothead who has probably never run a company in his life.  You can delete these messages now.  

[evershawn]

Don't remove negative feedback from him, he deserves it, You're one of the MANY people he has abused with his positive trust. Help take it down so he can't do it to anyone else!

At this point I'm pleading to high ranking members of the community to do something about him. They're the ones that can pretty much make his account worthless, not guys like you and me that have not gone around soliciting feedback from people to use as a vehicle to abuse people with and entertain himself with his smug and arrogant attitude about all of this.