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Author Topic: More ideas than capital  (Read 1313 times)
cbeast
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June 12, 2012, 12:29:02 AM
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Here's my conundrum. I have all these ideas for Bitcoin based businesses, but neither the programming skills, nor the cash to hire programmers. What I can do is create a skeleton type website (like the one below) with basic web 1.0 skills, but right now I don't want a bunch of crappy looking websites. I am thinking of hiring filipino web developers, that would at least get me started, but even that can get expensive. I can create a GLBSE IPO or several and get funds for programmers for each site or several at once. Some of the websites will be moneymakers, some are just plain needed and may or may not make money. So should I just build crappy websites and build them slowly as I can afford, or should I look for investors?

Here's another future issue. I am already financing a money lending operation in the Philippines that will take awhile to realize profits, but my goal there is to really start making money with Bitcoin eventually. I'm not sure it would be ethical to include investors in this project, but at some point advertisers will be sought. I plan to merge the money lending with a Bitcoin exchange. For that I may need additional investors, but I hope to bootstrap this project for awhile until the business model is better developed. Or maybe I should just put together one big massive IPO and use the money to develop the projects all at once. Any thoughts?

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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Bitcoin Oz
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June 12, 2012, 12:33:47 AM
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There are limits on how many assets one person can have on glbse so maybe bunch a heap of ideas together along with business plans for each one then try and raise money for them at once.


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June 12, 2012, 12:51:54 AM
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Here's my conundrum. I have all these ideas for Bitcoin based businesses, but neither the programming skills, nor the cash to hire programmers. What I can do is create a skeleton type website (like the one below) with basic web 1.0 skills, but right now I don't want a bunch of crappy looking websites. I am thinking of hiring filipino web developers, that would at least get me started, but even that can get expensive. I can create a GLBSE IPO or several and get funds for programmers for each site or several at once. Some of the websites will be moneymakers, some are just plain needed and may or may not make money. So should I just build crappy websites and build them slowly as I can afford, or should I look for investors?

Here's another future issue. I am already financing a money lending operation in the Philippines that will take awhile to realize profits, but my goal there is to really start making money with Bitcoin eventually. I'm not sure it would be ethical to include investors in this project, but at some point advertisers will be sought. I plan to merge the money lending with a Bitcoin exchange. For that I may need additional investors, but I hope to bootstrap this project for awhile until the business model is better developed. Or maybe I should just put together one big massive IPO and use the money to develop the projects all at once. Any thoughts?

I think that if you're going to include investors in financing any kind of money service in the Philippines, you need to make them aware that the Philippines is a FinCEN embargoed country in which foreign terrorist organisations operate.  It's status is also due to be reviewed by FATF this month as it's been identified as not making sufficient progress in relation to AML/CTF.  Sanctions could be applied following that review.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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June 12, 2012, 01:18:06 AM
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Here's my conundrum. I have all these ideas for Bitcoin based businesses, but neither the programming skills, nor the cash to hire programmers. What I can do is create a skeleton type website (like the one below) with basic web 1.0 skills, but right now I don't want a bunch of crappy looking websites. I am thinking of hiring filipino web developers, that would at least get me started, but even that can get expensive. I can create a GLBSE IPO or several and get funds for programmers for each site or several at once. Some of the websites will be moneymakers, some are just plain needed and may or may not make money. So should I just build crappy websites and build them slowly as I can afford, or should I look for investors?


Twitter bootstrap is your friend if you want pretty-by-default websites.

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June 12, 2012, 01:20:46 AM
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Here's my conundrum. I have all these ideas for Bitcoin based businesses, but neither the programming skills, nor the cash to hire programmers. What I can do is create a skeleton type website (like the one below) with basic web 1.0 skills, but right now I don't want a bunch of crappy looking websites. I am thinking of hiring filipino web developers, that would at least get me started, but even that can get expensive. I can create a GLBSE IPO or several and get funds for programmers for each site or several at once. Some of the websites will be moneymakers, some are just plain needed and may or may not make money. So should I just build crappy websites and build them slowly as I can afford, or should I look for investors?

Here's another future issue. I am already financing a money lending operation in the Philippines that will take awhile to realize profits, but my goal there is to really start making money with Bitcoin eventually. I'm not sure it would be ethical to include investors in this project, but at some point advertisers will be sought. I plan to merge the money lending with a Bitcoin exchange. For that I may need additional investors, but I hope to bootstrap this project for awhile until the business model is better developed. Or maybe I should just put together one big massive IPO and use the money to develop the projects all at once. Any thoughts?

I think that if you're going to include investors in financing any kind of money service in the Philippines, you need to make them aware that the Philippines is a FinCEN embargoed country in which foreign terrorist organisations operate.  It's status is also due to be reviewed by FATF this month as it's been identified as not making sufficient progress in relation to AML/CTF.  Sanctions could be applied following that review.

I could argue that FinCEN is a terrorist organisation  Cheesy

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June 12, 2012, 03:14:19 AM
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I think that if you're going to include investors in financing any kind of money service in the Philippines, you need to make them aware that the Philippines is a FinCEN embargoed country in which foreign terrorist organisations operate.  It's status is also due to be reviewed by FATF this month as it's been identified as not making sufficient progress in relation to AML/CTF.  Sanctions could be applied following that review.
Yeah, that's why I would keep investors out of that part, but a Bitcoin exchange there would not involve any money transmission to my enterprise, so it is not a concern to Fincen. What private citizens in the Philippines do is also not my concern. I am only providing a service to conveniently serve their business.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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June 12, 2012, 03:17:27 AM
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Twitter bootstrap is your friend if you want pretty-by-default websites.
cool cool cool. I'll check that out!

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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June 14, 2012, 01:03:49 AM
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OK, so I have these (roughly) six Bitcoin based business models and websites (well one of them doesn't have a good name yet) so I think I will put them all under one umbrella. I think GLBSE is the way to go for fundraising, although I need to understand a little better how it works. Most of the businesses will be strictly Bitcoin based and the revenue will be easily reportable for accounting and paying dividends. I will probably start with those to gain the confidence of my investors. I don't know how much it will cost to develop all of them so I will only offer a small part of the stock until it grows and bootstrap the businesses one at a time.

Here's the thing: I don't really see any real businesses on GLBSE besides miners and investment magicians. I hope GLBSE is friendly to web-based businesses. Any of which could disappear overnight. I'm not even sure of the legality of this type of funding. I am hoping to learn more about this before I go ahead.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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June 14, 2012, 01:35:41 AM
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Here's the thing: I don't really see any real businesses on GLBSE besides miners and investment magicians. I hope GLBSE is friendly to web-based businesses. Any of which could disappear overnight. I'm not even sure of the legality of this type of funding. I am hoping to learn more about this before I go ahead.

It's probably not. GLBSE is like a black market for IPO, which relies solely on trust.

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June 14, 2012, 01:40:46 AM
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I have a similar problem. No better time to start learning. Well, as soon as you could read would've been better, but the point is, there's not going to be a better time...
cbeast
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June 14, 2012, 02:34:21 AM
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Here's the thing: I don't really see any real businesses on GLBSE besides miners and investment magicians. I hope GLBSE is friendly to web-based businesses. Any of which could disappear overnight. I'm not even sure of the legality of this type of funding. I am hoping to learn more about this before I go ahead.

It's probably not. GLBSE is like a black market for IPO, which relies solely on trust.
I've thought about the trust issue. Mining companies have known hashrates and a solid business plan that is pretty transparent. Websites and real-world businesses are a different story. I plan to make most of the business models transparent. I was thinking of making the accounting books publicly accessible. I'm not sure that has ever been done before. The dividends paid to the stockholders will be just as public. Getting third-party businesses to publish their payments may be a challenge, but Bitcoin has solutions for problems we don't even know about. I hope to show that Bitcoin investment strategies like GLBSE can appeal to mainstream investors.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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June 14, 2012, 02:59:52 AM
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I could argue that FinCEN is a terrorist organisation  Cheesy

+1  No argument needed.

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June 14, 2012, 03:09:31 AM
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I'm actually trying to setup a website right now.  Never done it before, and I feel a bit overwhelmed.  I registered a domain and bought hosting with Dreamhost.  I picked them because I've heard good things.  To get an idea of how much of a newb I am at this sort of thing, as soon as I saw "One-Click Installs" in the Dreamhost Web Panel I went straight for it.  I "one click" installed WordPress, and I picked that because I've heard of it before.  But, seriously, I have no clue what I'm doing.
cbeast
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June 14, 2012, 03:16:32 AM
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I think that if you're going to include investors in financing any kind of money service in the Philippines, you need to make them aware that the Philippines is a FinCEN embargoed country in which foreign terrorist organisations operate.  It's status is also due to be reviewed by FATF this month as it's been identified as not making sufficient progress in relation to AML/CTF.  Sanctions could be applied following that review.
It's funny, because I am friends with (and at one time engaged to) a member of a royal Muslim family there, though she is Christian. The whole terrorist thing is more about filipinos being tired of getting rolled over by every major empire in the last 400 years. The Sultanate was the last pride of the Philippines until Manny Pacquiao and look how they cheated him in Las Vegas. Filipinos are considered the n****rs of the Asian nations and are literally enslaved by Arabs, Japanese, Americans, and even Chinese. Now maybe the internet and Bitcoin will help them achieve autonomy away from the influence of corrupt oligarchs.

I'm actually trying to setup a website right now.  Never done it before, and I feel a bit overwhelmed.  I registered a domain and bought hosting with Dreamhost.  I picked them because I've heard good things.  To get an idea of how much of a newb I am at this sort of thing, as soon as I saw "One-Click Installs" in the Dreamhost Web Panel I went straight for it.  I "one click" installed WordPress, and I picked that because I've heard of it before.  But, seriously, I have no clue what I'm doing.

That's how we learn. I'm not that much better!

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
Bitcoin Oz
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June 14, 2012, 03:23:56 AM
 #15

OK, so I have these (roughly) six Bitcoin based business models and websites (well one of them doesn't have a good name yet) so I think I will put them all under one umbrella. I think GLBSE is the way to go for fundraising, although I need to understand a little better how it works. Most of the businesses will be strictly Bitcoin based and the revenue will be easily reportable for accounting and paying dividends. I will probably start with those to gain the confidence of my investors. I don't know how much it will cost to develop all of them so I will only offer a small part of the stock until it grows and bootstrap the businesses one at a time.

Here's the thing: I don't really see any real businesses on GLBSE besides miners and investment magicians. I hope GLBSE is friendly to web-based businesses. Any of which could disappear overnight. I'm not even sure of the legality of this type of funding. I am hoping to learn more about this before I go ahead.

Starting to get more variety with rugatu,feedzebirds and cheaperinbitcoins etc. The vast majority is still mining related though.

cbeast
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June 14, 2012, 03:58:21 AM
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Starting to get more variety with rugatu,feedzebirds and cheaperinbitcoins etc. The vast majority is still mining related though.
I love feedzebirds. Keep plugging away on that, it will catch on.  Smiley
I will need programmers for some of my ideas. Later I'll need actual staff.  Cheesy

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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June 14, 2012, 04:03:21 AM
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As you know I've PM'd you, posting here so I can keep track of the thread.
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June 14, 2012, 04:08:56 AM
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I'm actually trying to setup a website right now.  Never done it before, and I feel a bit overwhelmed.  I registered a domain and bought hosting with Dreamhost.  I picked them because I've heard good things.  To get an idea of how much of a newb I am at this sort of thing, as soon as I saw "One-Click Installs" in the Dreamhost Web Panel I went straight for it.  I "one click" installed WordPress, and I picked that because I've heard of it before.  But, seriously, I have no clue what I'm doing.

WordPress has evolved into a pretty impressive content management system but is still easy to set up for basic functions.  In addition, you'll find no shortage of people able to give you help with its configuration.
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