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Author Topic: How does one become a Bitcoin entrepreneur?  (Read 5190 times)
cheapster
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May 22, 2012, 08:00:31 AM
 #1

It's pretty exciting coming across these forums and seeing all the energy and enthusiasm being poured into such an innovative and potentially world-altering technology.  I think most people here have technology backgrounds and so becoming a bitcoin entrepreneur was a natural extension of their passion for technology.  How many bitcoin-businesses are profitable?  Probably not that many relative to the total number of ventures out there.  But every failed venture still contributes something important to the overall economy/community of this experiment in digital money.  My question is: how does one become a bitcoin entrepreneur?  Yes, the question is vague, but I'd really like to hear the conversation (from whatever perspective) if you'll entertain it.
Thanks!
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Vladimir
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May 22, 2012, 08:04:04 AM
 #2

1. Pick up some idea, they are dime a dozen.
2. Implement it.
3. Profit.

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Kris
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May 22, 2012, 08:07:35 AM
 #3

Get a innovative idea, best if it is also unique, make it happen, fail or succeed.

Congratulation you are now a Bitcoin entrepreneur!
cheapster
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May 22, 2012, 08:14:34 AM
 #4

Vladimir and Kris, thanks!  So what are your personal experiences and what inspired your ideas?  What were your ideas and was it hard to make them profitable?
FreeMoney
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May 22, 2012, 08:24:37 AM
 #5

I was selling some coins to a guy in Starbucks and it was awkward because he was late and my laptop battery had died and I accessed an instawallet with too many coins from his laptop so I needed to send them to myself... but I didn't know any of my addresses since they are stupidly long. BAM FIRSTBITS. Now I pay hosting fees and make no money, but girls are writting them on their skin so one day it's all going to work out.

But really, figure out how to solve a problem for people and you'll proabably do well.

The Starbucks story is not made up. Firstbits actually occured to me while the guy was still there and I blurted it out and he wasn't impressed. I can't remember exactly but I don't think my first notion of it was very well formed.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Kris
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May 22, 2012, 08:37:01 AM
 #6

Vladimir and Kris, thanks!  So what are your personal experiences and what inspired your ideas?  What were your ideas and was it hard to make them profitable?

My personal experience is that I am still trying Smiley

What inspired my ideas is the need to solve problems for people.

Check my signature for my ideas, Even though they are not as profitable as I would want them to be, I still run them and have been doing this for the past year for the benefit of the bitcoin community.
bitdragon
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May 22, 2012, 08:44:56 AM
 #7

the most difficult and rewarding part is to actually take action and make something happen.
Few people actually take action and fold to fear and surely it can't be this easy, if it was someone else would have already done it.
Chances are high that you should do it anyway and will help you build confidence and lead to greater things.

I encourage myself and you and all others to do it. Dream big and act daily Smiley

FreeMoney
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May 22, 2012, 09:20:41 AM
 #8

...if it was someone else would have already done it.

I totally think that for everything not bitocin related (likely wrongly). But for bitcoin it's like, ok, there are maybe 50k users and 500 makers who are crazy busy so there must be endless ideas that there just hasn't been time to make happen yet. So much brand new going on here.

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2weiX
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May 22, 2012, 09:34:04 AM
 #9

I have a metric fuckton of ideas, but lack the PHP and Java skills (let alone TIME) to make them happen.



Kris
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May 22, 2012, 09:41:18 AM
 #10

I have a metric fuckton of ideas, but lack the PHP and Java skills (let alone TIME) to make them happen.

I'm always here for you 2weiX Smiley
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May 22, 2012, 09:42:20 AM
 #11

I like that quote that invention is 1% inspiration and 99% perspiration. I think becoming an entrepreneur is the same. Some personal sacrifice is required in the short term.

At the moment the number of people using bitcoin regularly is probably a "small town"'s worth. A few tens of thousands. This makes selling a niche product or service difficult. Imagine you are selling something that appeals to 1% of the total market. You are only selling to a few hundred people at the moment so it is not going to pay your bills, feed your family and make you a gazillionaire.

If you take the slightly longer term view and think "hmmm, bitcoin could easily be used by millions of people" then you will be eventually selling your service (which by then has a fantastic website, is thoroughly debugged and dispatches/ expedites super efficiently) to a whole metropolis. Think selling to the whole of New York's population.

Other people will then try and copy you, but you have the first mover advantage and your service just works.

Of course, it is not all about the money. Consider also offering a cut down version of your service for free, and grow the whole bitcoin market.


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Littleshop
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May 22, 2012, 12:37:58 PM
 #12

I have a metric fuckton of ideas, but lack the PHP and Java skills (let alone TIME) to make them happen.

This may be one of Bitcoins greatest benefits.  Offer the coding work up for BTC or look in the services section.  There are lots of people making code, doing artwork and other things for Bitcoin and below market rates. 

Find what you can do above average and offer it to the community.  Some people buy and sell, some offer consistency, some do great art, some have access to a good deal that others don't and of course some people make things.

cbeast
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May 22, 2012, 12:41:45 PM
 #13

I have a metric fuckton of ideas, but lack the PHP and Java skills (let alone TIME) to make them happen.

Same here. I am working on a business plan to make some of them happen.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
Electrongolf
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May 22, 2012, 07:21:54 PM
 #14

Also, this board will initially try to rip apart your idea. This is a good thing. However, it can be a little discouraging and sometimes people just want to be jerks and shoot down your idea. I have proposed ideas on this forum I thought were great, and got terrible responses. My most recent concept was ripped. Heh heh

But, if you think you can pull it off, go for it! Just don't pay too much attention to the peanut gallery.

Good Luck!

Seal
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May 23, 2012, 12:12:17 AM
 #15

Idea is your first step. You don't have to look far for inspriation. Secondly, implement it, if its a similar idea to an existing one then don't let that stop you. Implement it better which I'm sure wouldn't be hard for many projects.

The more competition we have, the more the bitcoin market will improve. Good luck. The community here is both supportive and brutally honest.

DeathAndTaxes
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May 23, 2012, 12:15:07 AM
 #16

I was selling some coins to a guy in Starbucks and it was awkward because he was late and my laptop battery had died and I accessed an instawallet with too many coins from his laptop so I needed to send them to myself... but I didn't know any of my addresses since they are stupidly long. BAM FIRSTBITS. Now I pay hosting fees and make no money, but girls are writting them on their skin so one day it's all going to work out.

But really, figure out how to solve a problem for people and you'll proabably do well.

The Starbucks story is not made up. Firstbits actually occured to me while the guy was still there and I blurted it out and he wasn't impressed. I can't remember exactly but I don't think my first notion of it was very well formed.

Awesome story.   Just shows necessity is the mother of all inventions.
Yankee (BitInstant)
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May 23, 2012, 01:32:40 AM
 #17

True story.

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
edd
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May 23, 2012, 01:49:24 AM
 #18

I have a metric fuckton of ideas, but lack the PHP and Java skills (let alone TIME) to make them happen.

Ditto. I have plenty of ideas that are within my skillset however and I plan on developing as many as possible. Too bad none of my current projects are profitable enough for me to quit my day job without my wife leaving me.

I tend to agree with FreeMoney in that there are really only a relatively small subset of bitcoin enthusiasts actively working on new ideas but only because most people lack the confidence to just jump in and try. Look at me, I have almost no coding skills and I'm directly involved in running seven bitcoin based projects with almost that many on the backburner. And that's not even counting the ones I support with some BTC and some other minimal contributions like lovebitcoins.org and bitcoin100.org.

Still around.
Fuzzy
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May 23, 2012, 02:14:04 AM
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Also, this board will initially try to rip apart your idea. This is a good thing. However, it can be a little discouraging and sometimes people just want to be jerks and shoot down your idea. I have proposed ideas on this forum I thought were great, and got terrible responses. My most recent concept was ripped. Heh heh

You're not kidding. Talk about a reality check, they people here can point out some important flaws, and will probably save you a lot of time in the long run, but some of them can be really mean too.
Phinnaeus Gage
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May 23, 2012, 02:17:56 AM
 #20

Think outside the box! That's my short answer prior to reading a single post on this thread (just its title). I reserve the right to update this post after reading the posts, of which I'm going to do now.

~Bruno~

Edit 1: So far, I like how you posed the question in the OP.

Edit 2:

Quote
I was selling some coins to a guy in Starbucks and it was awkward because he was late and my laptop battery had died and I accessed an instawallet with too many coins from his laptop so I needed to send them to myself... but I didn't know any of my addresses since they are stupidly long. BAM FIRSTBITS. Now I pay hosting fees and make no money, but girls are writting them on their skin so one day it's all going to work out.

Somebody tell me how this business model could even begin to fail.

Edit 3:

Also, this board will initially try to rip apart your idea. This is a good thing. However, it can be a little discouraging and sometimes people just want to be jerks and shoot down your idea. I have proposed ideas on this forum I thought were great, and got terrible responses. My most recent concept was ripped. Heh heh

But, if you think you can pull it off, go for it! Just don't pay too much attention to the peanut gallery.

Good Luck!

And some people will outright steal your idea and call it their own, like what happened with my Twunker idea.

Finally Edit: You folks who commented did a fine job.

~Bruno~
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