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Topic: 100bit.co.in - Direct trading exchange - 0.1% fee - Alt coins supported - page 3. (Read 10997 times)

sr. member
Activity: 860
Merit: 423
Can you sum up the differences between this and a regular solid exchange like Poloniex? I dont see why I should move my funds to there.

1. Poloniex is a real-time exchange like Bitstamp, whereas 100bit.co.in is direct trading exchange like LocalBitcoins, though it allows Alt coin trading as well.

2. 100bit.co.in does not require your fund to stay deposited with the site. So, in case of any security breach, there is no chance that your fund will get affected, unless you have a live trade exactly at that time.

3. 100bit.co.in trading fee is same for all volume of trade. It is 0.001 BTC flat for each trade.

4. 100bit.co.in is an invitation only exchange. It requires a referral & 0.01 BTC to join 100bit.co.in. An user earns 0.003 BTC from each referral joining.
hero member
Activity: 700
Merit: 501
Can you sum up the differences between this and a regular solid exchange like Poloniex? I dont see why I should move my funds to there.
It says "the exchange allows for direct exchange of BTC and altcoins against fiat directly with users". I don't know if OP means this is an actua lp2p exchange or what.
legendary
Activity: 868
Merit: 1006
Can you sum up the differences between this and a regular solid exchange like Poloniex? I dont see why I should move my funds to there.
full member
Activity: 243
Merit: 100
Looks pretty good. A direct exchange for Bitcoin, Alt Coins & FIAT together was indeed needed...
sr. member
Activity: 860
Merit: 423
If you are looking for an early access, please PM us...
sr. member
Activity: 860
Merit: 423
We actually want to operate under real identity, but planning to come out with some proper media coverage. Current data is just a dump for as long as we are testing...

Another scumbag/flake exchange. Do not need. Do not want.

Criticism is always welcome. But it would have been better if u do some constructive criticism. After so many scams, it is no wonder that people will wary about a new business in bitcoin, but at the same time it is also disheartening to see that you are calling something outright scam that we are working on for almost a year. I'd rather like to know, why do you think it is a scam and what would convince you that it is real ?
You lied about your business identity. You got caught. You don't get to handle the money of others.

Where did we lie ? We simply did not put up any personal details. Moreover, we are not yet launched. Check the whois history of bitcoin.org. Do you think Satoshi was lying or he just did not want to put up his personal details ? There are millions of similar example from legitimate companies.

'.co.in'

Seems legit.

Does .co.uk seems illegitimate to u ? According to you www.google.co.in must be a scam as well !!!

Obvious scam. No exchange charges you money to join.

AFAIK, no exchange offers you fixed cost for all amount of trade either.
hero member
Activity: 1395
Merit: 505
Obvious scam. No exchange charges you money to join.
sr. member
Activity: 406
Merit: 250
'.co.in'

Seems legit.
legendary
Activity: 1204
Merit: 1002
We actually want to operate under real identity, but planning to come out with some proper media coverage. Current data is just a dump for as long as we are testing...

Another scumbag/flake exchange. Do not need. Do not want.

Criticism is always welcome. But it would have been better if u do some constructive criticism. After so many scams, it is no wonder that people will wary about a new business in bitcoin, but at the same time it is also disheartening to see that you are calling something outright scam that we are working on for almost a year. I'd rather like to know, why do you think it is a scam and what would convince you that it is real ?
You lied about your business identity. You got caught. You don't get to handle the money of others.
sr. member
Activity: 860
Merit: 423
Quote
Global brands those are accepting bitcoin...

Not tryin' to be a Grammar Nazi, bud, but change "those" to "that". Or, better yet: Global brands currently accepting bitcoin... (and please don't ask me how brands are able to accept anything being that in essence they are inanimate objects  Roll Eyes)

Done... thanx for pointing out

Quote
Registrant Contact Information:
    Name: Hundred Bitcoin
    Address 1: Coin Land
    City: City of Coin
    State: GA
    Zip: 400001
    Country: IN
    Phone: +91.9999999999
    Email: Email Masking [email protected]

Administrative Contact Information:
    Name: Hundred Bitcoin
    Address 1: Coin Land
    City: City of Coin
    State: GA
    Zip: 400001
    Country: IN
    Phone: +91.9999999999
    Email: Email Masking [email protected]

Technical Contact Information:
    Name: Hundred Bitcoin
    Address 1: Coin Land
    City: City of Coin
    State: GA
    Zip: 400001
    Country: IN
    Phone: +91.9999999999
    Email: Email Masking [email protected]

I also suggest either obfuscate the info or supply actual data (doesn't mater which), for the above doesn't cut it.

We actually want to operate under real identity, but planning to come out with some proper media coverage. Current data is just a dump for as long as we are testing...

Another scumbag/flake exchange. Do not need. Do not want.

Criticism is always welcome. But it would have been better if u do some constructive criticism. After so many scams, it is no wonder that people will wary about a new business in bitcoin, but at the same time it is also disheartening to see that you are calling something outright scam that we are working on for almost a year. I'd rather like to know, why do you think it is a scam and what would convince you that it is real ?
legendary
Activity: 1204
Merit: 1002
Another scumbag/flake exchange. Do not need. Do not want.
vip
Activity: 1428
Merit: 1145
Quote
Registrant Contact Information:
    Name: Hundred Bitcoin
    Address 1: Coin Land
    City: City of Coin
    State: GA
    Zip: 400001
    Country: IN
    Phone: +91.9999999999
    Email: Email Masking [email protected]

Administrative Contact Information:
    Name: Hundred Bitcoin
    Address 1: Coin Land
    City: City of Coin
    State: GA
    Zip: 400001
    Country: IN
    Phone: +91.9999999999
    Email: Email Masking [email protected]

Technical Contact Information:
    Name: Hundred Bitcoin
    Address 1: Coin Land
    City: City of Coin
    State: GA
    Zip: 400001
    Country: IN
    Phone: +91.9999999999
    Email: Email Masking [email protected]

I also suggest either obfuscate the info or supply actual data (doesn't mater which), for the above doesn't cut it.
vip
Activity: 1428
Merit: 1145
Quote
Global brands those are accepting bitcoin...

Not tryin' to be a Grammar Nazi, bud, but change "those" to "that". Or, better yet: Global brands currently accepting bitcoin... (and please don't ask me how brands are able to accept anything being that in essence they are inanimate objects  Roll Eyes)
full member
Activity: 243
Merit: 100
Happy New Year bitcoiners Smiley

A lot of things have taken place at our end in last few months. We did not expect it will take so much time, but we are happy to say, that at last we are close to launch. OP is updated with the latest info. Expecting support from the community...

www.100bit.co.in

Seems this is going to be the first exchange offering direct trade of alt coins. Till date localbitcoins and a few others were offering it for bitcoin only. Will be looking forward for the launch...
legendary
Activity: 1662
Merit: 1050
Happy New Year bitcoiners Smiley

A lot of things have taken place at our end in last few months. We did not expect it will take so much time, but we are happy to say, that at last we are close to launch. OP is updated with the latest info. Expecting support from the community...

www.100bit.co.in

Nice to see that you are still at work. Very few projects I have seen in BitcoinTalk that they announced months ago and ultimately delivered the end product. Probably Trezor was the longest running in this category, it took around 2 years to deliver after the announcement.
sr. member
Activity: 860
Merit: 423
Happy New Year bitcoiners Smiley

A lot of things have taken place at our end in last few months. We did not expect it will take so much time, but we are happy to say, that at last we are close to launch. OP is updated with the latest info. Expecting support from the community...

www.100bit.co.in
hero member
Activity: 700
Merit: 500
Update July 19, 2014: Pre-Registration has begun. Visit www.100bit.co.in. There is a demo with a skeleton UI without DB connection.

Update April 5, 2014: Project Development Thread: https://bitcointalksearch.org/topic/building-a-localbitcoins-alternative-you-can-invest-and-earn-dividend-558065

Preface: I'm a developer and as a developer I always dreamt of building interesting software business. But sadly I never got support from the bank to move forward with my plan. Now, Bitcoin has given me the freedom to dream again. I wish much more wider acceptance of Bitcoin in coming days.


Failure: My first Bitcoin project was a gambling game (www.100bit.co.in). Inspired by the success of SatoshiBet, PrimeDice etc. I chalked out a plan. I proposed the idea on the board and found a lot of people showing interest to the basic concept of a gambling on blockchain.info data (ref: https://bitcointalksearch.org/topic/a-gambling-project-455724). Today was the last day of the game and if you look at the game thread (https://bitcointalksearch.org/topic/www100bitcoin-a-gambling-project-based-on-blockchain-info-471521), u'll instantly figure out that I was a failure in this project.


Learning: A lot of people can risk 0.01 BTC, but there should be an assured way for everyone of them to win back the bitcoin with profit. That is the reason Ponzi games are so successful over gambling ones !!! One of the participants in the game even mentioned it (https://bitcointalksearch.org/topic/m.5287264)


Upcoming Project: I am planning to build a bitcoin club on www.100bit.co.in with the membership model in referral commission distribution. The club will have multiple online services, but membership will be on referral basis and referral commission will be distributed in the upward chain.

Following is what I have decided as of yet.

Membership: n BTC

Direct commission to referrer: x%

Indirect commission distributed in the upward chain: y%


Like the previous project, I want all of your feedback on this idea too. Can it take off ?






I hope you realize actual pyramid schemes are illegal in most countries and they can actually prosecute you, regardless of how it is structured. There are loopholes obviously because some companies still exist(mainly in sales) and get away with it. But they had DAMN good lawyers.
legendary
Activity: 1232
Merit: 1002
Oh mate ... long time no see ... But I see you did something interesting .... let's hope this one will work out perfectly!
legendary
Activity: 3472
Merit: 4801
Think about it a bit, Satoshi may or may not have all those millions of coins(I am also aware that he may have destroyed the private keys, but we can't know), that's a lot of money, especially when the price hits new ATHs. You are/will be trusting him that he doesn't dump them. Why would he destroy his creation? I am not saying he will, just saying, you trust him not to do it.

No, I don't.

He is welcome to dump those coins anytime he likes.

The exchange rate may come down to record low values, and I'll buy up a bunch of really cheap bitcoins.  I'm actually hoping he dumps them.

As for creativity, here's an app I created for Android, https://bitcointalksearch.org/topic/avanitygen-alpha-v02-vanity-address-generator-for-android-updated-11112-101612. There was no way for me to create a better UI, I just simply can't, not because if technical difficulties, but because of said aptitude, I am not a creative person.


And as a hobby project for yourself, it's fine.  But I wouldn't pay any of my money for it, and unless I can download , review, and compile the source code for myself I wouldn't trust it on my device.
legendary
Activity: 1862
Merit: 1011
Reverse engineer from time to time
Everybody said Satoshi's coding skills were not that great

They weren't.

you trusted him did you not?

Absolutely not!  Where did you get the idea that any of the early adopters trusted Satoshi?
Think about it a bit, Satoshi may or may not have all those millions of coins(I am also aware that he may have destroyed the private keys, but we can't know), that's a lot of money, especially when the price hits new ATHs. You are/will be trusting him that he doesn't dump them. Why would he destroy his creation? I am not saying he will, just saying, you trust him not to do it.

As for creativity, here's an app I created for Android, https://bitcointalksearch.org/topic/avanitygen-alpha-v02-vanity-address-generator-for-android-updated-11112-101612. There was no way for me to create a better UI, I just simply can't, not because if technical difficulties, but because of said aptitude, I am not a creative person.
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