Topic: [ANNOUNCEMENT]BitcoinBazaar.com - BZ on GLBSE! Rescope complete. Invest today! (Read 2242 times)
March 02, 2012, 04:33:20 PM
Rescope complete. Read first post.
September 20, 2011, 01:57:50 PM
bump
September 19, 2011, 12:21:14 PM
Hello, Just an update. I have had some people sell back what they had. Please if you own shares of BZ please sell them back ot face the possibility of being left with shares that are worthless. I have submitted a motion that all shares be sold back to me, Please check your account and sell back. I need to redo the amount of shares available.
September 17, 2011, 05:20:30 AM
I am currently trying to buy back all shares, BZ has undergone a reduction in scope in order to be more successful in the current bitcoin environment.
EVERYONE who has shares of BZ I will buy them back at 0.01, please sell. I will try to reduce the number of overall shares so that it is more manageable.
EVERYONE who has shares of BZ I will buy them back at 0.01, please sell. I will try to reduce the number of overall shares so that it is more manageable.
September 17, 2011, 02:31:52 AM
Some sort of problem. GLBSE won't place my order. Just in queue.
September 16, 2011, 09:43:20 PM
I like bitporium..
Website is nice, keep it up..
Wish I had some extra coin to spend on your site.. its all in the GLBSE
Maybe Ill get some shares
Website is nice, keep it up..
Wish I had some extra coin to spend on your site.. its all in the GLBSE
Maybe Ill get some shares
September 16, 2011, 09:01:50 AM
Still waiting on answers to the questions posed.
bump
September 16, 2011, 07:54:26 AM
bump
September 06, 2011, 02:54:13 PM
Firstly an apology ...
It seems I may have misinterpreted your earlier statements - I mistakenly thought the totality of the issued BZ shares represented 25% of the business Bitcoin Bazaar.
I now realise that the totality of the issued BZ shares represents 100% of Bitcoin Bazaar and that you own 750,000 of the 1,000,000 shares issued to date (i.e. 75%).
Apologies to everyone else for any confusion my confusion may have caused ;O)
Moving on ...
I reached that valuation based on what I believe the idea is currently worth. I feel that BZ will be able to make a large impact in the bitcoin community and really get some main stream usage. Also, Based on all the freelance work I have done in helping people get their businesses set up for accepting biitcoins, I know there is a market for an easy to use solution.
"And how much will you be investing on your p(r)oject?"
Can you please state how much cash you will be putting into the company ?
As an investor, I can accept that you might not pay the full amount for your 75% of the shares, but I would most certainly require that a significant sum is put into the business and risked by you.
This will also help to demonstrate to other investors a suitable level of commitment of your time to the business too.
Regarding your other answers to my questions - I am happy with the majority of the responses, particularly your intention to obtain LLC status - this will be very significant in gaining sufficient trust from investors, to reach the funding levels you need to get started.
The only major concerns ...
You do not consider that you have any competitors - I am worried why exactly you thought this and wonder if you still do ?
You are valuing the business very highly - while it shows a level of ambition, without any trading figures to back it up ... it is a high value for an idea.
Assuming funding meets the levels stated earlier - what are your financial and user base projections for your first year of trading ?
The business has significant costs to meet in USD, particularly during the initial startup - how are you intending to manage the risk that BTC volatility presents ?
Where do you expect the business to be in 1, 3 and 10 years ?
It seems I may have misinterpreted your earlier statements - I mistakenly thought the totality of the issued BZ shares represented 25% of the business Bitcoin Bazaar.
I now realise that the totality of the issued BZ shares represents 100% of Bitcoin Bazaar and that you own 750,000 of the 1,000,000 shares issued to date (i.e. 75%).
Apologies to everyone else for any confusion my confusion may have caused ;O)
Moving on ...
Code:
Anyway, how have you reached a current valuation of 10,000 BTC for BZ ? And how much will you be investing on your poject?
"And how much will you be investing on your p(r)oject?"
Can you please state how much cash you will be putting into the company ?
As an investor, I can accept that you might not pay the full amount for your 75% of the shares, but I would most certainly require that a significant sum is put into the business and risked by you.
This will also help to demonstrate to other investors a suitable level of commitment of your time to the business too.
Regarding your other answers to my questions - I am happy with the majority of the responses, particularly your intention to obtain LLC status - this will be very significant in gaining sufficient trust from investors, to reach the funding levels you need to get started.
The only major concerns ...
You do not consider that you have any competitors - I am worried why exactly you thought this and wonder if you still do ?
You are valuing the business very highly - while it shows a level of ambition, without any trading figures to back it up ... it is a high value for an idea.
Assuming funding meets the levels stated earlier - what are your financial and user base projections for your first year of trading ?
The business has significant costs to meet in USD, particularly during the initial startup - how are you intending to manage the risk that BTC volatility presents ?
Where do you expect the business to be in 1, 3 and 10 years ?
September 06, 2011, 12:29:07 AM
Update: We have issued the first shares of Bitcoin Bazaar. Get in at the ground level. Currently 25% of the business is for sale at an initial offering of 0.01 BTC per share. All funds collected during this initial period will be used to develop the site.
Ummm, I checked glbse, and it says there are no BZ shares for sale. Did you forget to put in a sell order?
Also, on the topic of the total value of shares for sale (or in other words, the company value), how much money will it actually take to get this platform off the ground? Somehow I can't see it taking 2500 bitcoins to program the site, get website+hosting, and such. Where is the rest of the money going?
I just checked and it seems i forgot to put shares for sale. They are now.
Current estimates to get things up and running
Site ~$3500
Hosting ~$1800 1 year
SSL ~$1500 Verisign level 3 1 year
Marketing ~$7200 in marketing
About ~$3500 left for reserve
September 05, 2011, 01:19:58 PM
You have issued 1000000 shares, at 0.01 BTC each, which amounts to 25% of the company. That puts the company valuation at 40000 BTC and not 10000 BTC.
Hello, Sorry if I confused it, All the shares are equal to 100% of the company. 250,000 shares is equal to 25% of the company. Thanks for the clarification, I think I had misunderstood how this works.
September 05, 2011, 06:36:21 AM
Firstly, I appreciate the effort, this is a much needed service for bitcoin.
You have issued 1000000 shares, at 0.01 BTC each, which amounts to 25% of the company. That puts the company valuation at 40000 BTC and not 10000 BTC.
Then, a question of my own:
(25) Do you have an estimated time frame for finishing initial development and opening up the website for business?
(12) How have you reached a current valuation of 40,000 BTC for BZ ?
The current valuation is not 40k BTC. It is actually just 10k BTC. I chose that value because that is how much I think this endeavor is worth at the moment.
(17) Who owns the remaining 75% of BZ ?
I own the remaining 75%
The current valuation is not 40k BTC. It is actually just 10k BTC. I chose that value because that is how much I think this endeavor is worth at the moment.
(17) Who owns the remaining 75% of BZ ?
I own the remaining 75%
You have issued 1000000 shares, at 0.01 BTC each, which amounts to 25% of the company. That puts the company valuation at 40000 BTC and not 10000 BTC.
Then, a question of my own:
(25) Do you have an estimated time frame for finishing initial development and opening up the website for business?
Hello, Sorry if I confused it, All the shares are equal to 100% of the company. 250,000 shares is equal to 25% of the company.
For your question, I would say within 2 months. I really want to make sure that everything is covered and that security is tight.
I find the project really interesting, and I'd be glad to invest time and/or money on it. Thanks for the exhaustive list of questions of Ben Walsh and its answers. I would like to add just a few more
But what do you think of:
http://forbitcoin.com?
http://www.bitcoinharbor.com/
http://www.bitcoinworldmarket.com/default.aspx
http://www.bitcoinz.ca/shop/
http://cheaperinbitcoins.com/
Or (these could add Bitcoin support at any moment)
http://www.buysell.com
http://www.nlbuysell.com/
http://www.buyandsell.ie/
http://www.sell.com/
And just a last question:
A merchant comes to your site and posts his item in your Bazaar for, let's say, 10 BTC. Then you post a similar item (actually exactly the same) in eBay and you sell it for... 10 BTC * 5 EUR/BTC = 50 EUR (you take advantage of the great community of clients at eBay). Once it's sold, you take the money, convert it again to BTC and give them to the user. Wouldn't it be a way to bootstrap this business, at least in the firsts steps?
Again, I find it a really interesting project which could set a landmark. It's now the time to accomplish great things for Bitcoin! ;-)
Quote from: BitCoinWebHost
All orders will be processed through out very own escrow service to ensure that transactions are safe
Quote from: BitCoinWebHost
Accept Bitcoins as payment and get either Bitcoins or your choice of currency.
I've seen that in your previous project you used Zen-Cart. I wonder what infrastructure and procedures you have in mind to keep customers' and merchants' money in a secure way.Quote from: BitCoinWebHost
You will have top class fraud protection and quality support.
If I may ask... how? Fraud prevention is a very sensitive subject and there are very complex, proprietary algorithms to detect it: do you work directly on them or do you have outsourced it? Quote from: BitCoinWebHost
(4) Who do you consider the top 5 competitors to BZ ?
In the bitcoin community, I have not seen any other business that would directly compete with us.
The competitors are not only in the Bitcoin community, but in people/companies that provide a similar service an can easily switch to Bitcoin. If Amazon decided to offer Bitcoin payments as a BETA, wouldn't it be a competitor? Anyway, I don't think it will happen in a near future.In the bitcoin community, I have not seen any other business that would directly compete with us.
But what do you think of:
http://forbitcoin.com?
http://www.bitcoinharbor.com/
http://www.bitcoinworldmarket.com/default.aspx
http://www.bitcoinz.ca/shop/
http://cheaperinbitcoins.com/
Or (these could add Bitcoin support at any moment)
http://www.buysell.com
http://www.nlbuysell.com/
http://www.buyandsell.ie/
http://www.sell.com/
Quote from: BitCoinWebHost
(23) What is your current occupation ?
I am a college student on my second year, and my occupation is running my businesses.
I have seen that sometimes you write in singular and sometimes in plural (I/We). From your posts I guess that at the moment you are the only person directly involved in the project (of course with many services outsourced). That makes highly relevant your background, which leads me to the question. What are you studying? Analytical, hard sciences, like computer science or mathematics? Something more business-oriented, like economics or management? Something artistic that gives you a new insight of the market, like fine art? (an artist and at the same time a hacker, really interesting profile!), or something completely unrelated but which leaves you enough free time to focalize on the project?I am a college student on my second year, and my occupation is running my businesses.
Quote from: BitCoinWebHost
(12) How have you reached a current valuation of 40,000 BTC for BZ ?
The current valuation is not 40k BTC. It is actually just 10k BTC. I chose that value because that is how much I think this endeavor is worth at the moment.
Anyway, how have you reached a current valuation of 10,000 BTC for BZ ? And how much will you be investing on your poject?The current valuation is not 40k BTC. It is actually just 10k BTC. I chose that value because that is how much I think this endeavor is worth at the moment.
Quote from: bitfoo (neurochasm)
You have issued 1000000 shares, at 0.01 BTC each, which amounts to 25% of the company. That puts the company valuation at 40000 BTC and not 10000 BTC.
Quote from: BitCoinWebHost
My name is Eric Morales
I've googled your name but it is too common. Are you from the US?And just a last question:
A merchant comes to your site and posts his item in your Bazaar for, let's say, 10 BTC. Then you post a similar item (actually exactly the same) in eBay and you sell it for... 10 BTC * 5 EUR/BTC = 50 EUR (you take advantage of the great community of clients at eBay). Once it's sold, you take the money, convert it again to BTC and give them to the user. Wouldn't it be a way to bootstrap this business, at least in the firsts steps?
Again, I find it a really interesting project which could set a landmark. It's now the time to accomplish great things for Bitcoin! ;-)
Hello, I will answer your questions as best I can.
Quote
I've seen that in your previous project you used Zen-Cart. I wonder what infrastructure and procedures you have in mind to keep customers' and merchants' money in a secure way.
This new project will not use Zen-Cart. While I do feel it is powerful it is not nearly as powerful as I need it to be. I am currently looking at many options to keep funds safe. I can not comment further on this till we have final confirmation.Quote
If I may ask... how? Fraud prevention is a very sensitive subject and there are very complex, proprietary algorithms to detect it: do you work directly on them or do you have outsourced it?
What I meant by fraud prevention was that neither the merchant nor the customer will have a chance to make off with either of the person property. Simmilar to some of the current escrow services offered, All funds will be held securely untill the seller releases funds. If there is an issue with any transaction then someone from the dispute team (yet to be created, will be closer to launch date) will be chosen at random to deal with the issue.Code:
I have seen that sometimes you write in singular and sometimes in plural (I/We). From your posts I guess that at the moment you are the only person directly involved in the project (of course with many services outsourced). That makes highly relevant your background, which leads me to the question. What are you studying? Analytical, hard sciences, like computer science or mathematics? Something more business-oriented, like economics or management? Something artistic that gives you a new insight of the market, like fine art? (an artist and at the same time a hacker, really interesting profile!), or something completely unrelated but which leaves you enough free time to focalize on the project?
I am studying Software Development and Game design. The reason I sometimes use the term "We" is because I do have some people assisting me even though they are not part of the current project. I tend to have a good 40+ hours a week available to me, currently for the past few weeks I have been trying to write down what BZ will be and a plan on how to get there.
Code:
Anyway, how have you reached a current valuation of 10,000 BTC for BZ ? And how much will you be investing on your poject?
Code:
I've googled your name but it is too common. Are you from the US?
Quote
A merchant comes to your site and posts his item in your Bazaar for, let's say, 10 BTC. Then you post a similar item (actually exactly the same) in eBay and you sell it for... 10 BTC * 5 EUR/BTC = 50 EUR (you take advantage of the great community of clients at eBay). Once it's sold, you take the money, convert it again to BTC and give them to the user. Wouldn't it be a way to bootstrap this business, at least in the firsts steps?
This is an interesting question. Currently I don't plan on reposting the products merchants offer. Also I want to sat as far away from eBay and PayPal as possible. I for one poured a lot of my time and resources in trying to offer services to the bitcoin community because of my experience with both of those services. At the current time, I believe BZ will still be a service that caters to current users of bitcoins. While I do want to make it so that many people can use and enjoy, I know the reality is that the service will start small and grow with the bitcoin community, eventually we may grow to the point where BZ is as common a name as Amazon.
Thank you all for all the questions and keep um coming. Also how about some feature request.
September 05, 2011, 05:48:42 AM
I find the project really interesting, and I'd be glad to invest time and/or money on it. Thanks for the exhaustive list of questions of Ben Walsh and its answers. I would like to add just a few more
But what do you think of:
http://forbitcoin.com?
http://www.bitcoinharbor.com/
http://www.bitcoinworldmarket.com/default.aspx
http://www.bitcoinz.ca/shop/
http://cheaperinbitcoins.com/
Or (these could add Bitcoin support at any moment)
http://www.buysell.com
http://www.nlbuysell.com/
http://www.buyandsell.ie/
http://www.sell.com/
And just a last question:
A merchant comes to your site and posts his item in your Bazaar for, let's say, 10 BTC. Then you post a similar item (actually exactly the same) in eBay and you sell it for... 10 BTC * 5 EUR/BTC = 50 EUR (you take advantage of the great community of clients at eBay). Once it's sold, you take the money, convert it again to BTC and give them to the user. Wouldn't it be a way to bootstrap this business, at least in the firsts steps?
Again, I find it a really interesting project which could set a landmark. It's now the time to accomplish great things for Bitcoin! ;-)
Quote from: BitCoinWebHost
All orders will be processed through out very own escrow service to ensure that transactions are safe
Quote from: BitCoinWebHost
Accept Bitcoins as payment and get either Bitcoins or your choice of currency.
I've seen that in your previous project you used Zen-Cart. I wonder what infrastructure and procedures you have in mind to keep customers' and merchants' money in a secure way.Quote from: BitCoinWebHost
You will have top class fraud protection and quality support.
If I may ask... how? Fraud prevention is a very sensitive subject and there are very complex, proprietary algorithms to detect it: do you work directly on them or do you have outsourced it? Quote from: BitCoinWebHost
(4) Who do you consider the top 5 competitors to BZ ?
In the bitcoin community, I have not seen any other business that would directly compete with us.
The competitors are not only in the Bitcoin community, but in people/companies that provide a similar service an can easily switch to Bitcoin. If Amazon decided to offer Bitcoin payments as a BETA, wouldn't it be a competitor? Anyway, I don't think it will happen in a near future.In the bitcoin community, I have not seen any other business that would directly compete with us.
But what do you think of:
http://forbitcoin.com?
http://www.bitcoinharbor.com/
http://www.bitcoinworldmarket.com/default.aspx
http://www.bitcoinz.ca/shop/
http://cheaperinbitcoins.com/
Or (these could add Bitcoin support at any moment)
http://www.buysell.com
http://www.nlbuysell.com/
http://www.buyandsell.ie/
http://www.sell.com/
Quote from: BitCoinWebHost
(23) What is your current occupation ?
I am a college student on my second year, and my occupation is running my businesses.
I have seen that sometimes you write in singular and sometimes in plural (I/We). From your posts I guess that at the moment you are the only person directly involved in the project (of course with many services outsourced). That makes highly relevant your background, which leads me to the question. What are you studying? Analytical, hard sciences, like computer science or mathematics? Something more business-oriented, like economics or management? Something artistic that gives you a new insight of the market, like fine art? (an artist and at the same time a hacker, really interesting profile!), or something completely unrelated but which leaves you enough free time to focalize on the project?I am a college student on my second year, and my occupation is running my businesses.
Quote from: BitCoinWebHost
(12) How have you reached a current valuation of 40,000 BTC for BZ ?
The current valuation is not 40k BTC. It is actually just 10k BTC. I chose that value because that is how much I think this endeavor is worth at the moment.
Anyway, how have you reached a current valuation of 10,000 BTC for BZ ? And how much will you be investing on your poject?The current valuation is not 40k BTC. It is actually just 10k BTC. I chose that value because that is how much I think this endeavor is worth at the moment.
Quote from: bitfoo (neurochasm)
You have issued 1000000 shares, at 0.01 BTC each, which amounts to 25% of the company. That puts the company valuation at 40000 BTC and not 10000 BTC.
Quote from: BitCoinWebHost
My name is Eric Morales
I've googled your name but it is too common. Are you from the US?And just a last question:
A merchant comes to your site and posts his item in your Bazaar for, let's say, 10 BTC. Then you post a similar item (actually exactly the same) in eBay and you sell it for... 10 BTC * 5 EUR/BTC = 50 EUR (you take advantage of the great community of clients at eBay). Once it's sold, you take the money, convert it again to BTC and give them to the user. Wouldn't it be a way to bootstrap this business, at least in the firsts steps?
Again, I find it a really interesting project which could set a landmark. It's now the time to accomplish great things for Bitcoin! ;-)
September 05, 2011, 03:13:52 AM
Firstly, I appreciate the effort, this is a much needed service for bitcoin.
You have issued 1000000 shares, at 0.01 BTC each, which amounts to 25% of the company. That puts the company valuation at 40000 BTC and not 10000 BTC.
Then, a question of my own:
(25) Do you have an estimated time frame for finishing initial development and opening up the website for business?
(12) How have you reached a current valuation of 40,000 BTC for BZ ?
The current valuation is not 40k BTC. It is actually just 10k BTC. I chose that value because that is how much I think this endeavor is worth at the moment.
(17) Who owns the remaining 75% of BZ ?
I own the remaining 75%
The current valuation is not 40k BTC. It is actually just 10k BTC. I chose that value because that is how much I think this endeavor is worth at the moment.
(17) Who owns the remaining 75% of BZ ?
I own the remaining 75%
You have issued 1000000 shares, at 0.01 BTC each, which amounts to 25% of the company. That puts the company valuation at 40000 BTC and not 10000 BTC.
Then, a question of my own:
(25) Do you have an estimated time frame for finishing initial development and opening up the website for business?
September 05, 2011, 02:16:25 AM
Here the answers. Sorry for the delay.
(1) Who are you ? What is your background ?
My name is Eric Morales and I have been involved in the Bitcoin community since April this year. I believe this industry is an amazing idea that can blossom into something huge and lucrative, by providing all the transactional services to merchants through a host website. I have been searching for a viable business for a few years now, and BZ would be my third business venture. I started a small wholesale company back in '07 while I was still in high school and the experience taught me a lot about what it took to make a business work. This year I started BitCoinWebHost and I was finally able to gain valuable experience on how to make a business profitable. I also started my business BitPorium to learn how the retail market worked. The dedication and time I have put into BitPorium has taught me a lot about dealing with customers.
(2) What other user names do you use / have you used on this forum ?
I have only used BitCoinWebHost on this forum.
(3) What makes BZ unique in the marketplace ?
BZ will allow merchants to provide their products to the bitcoin community without having to deal with the technology that makes everything work. A merchant can simply sign up for our service and immediately reach their customer base and focus only on dealing with customers, adding products to the store and accessing any orders that come in. The merchant will not need to worry about web site maintenance, running a Bitcoin server or even verifying payments.
(4) Who do you consider the top 5 competitors to BZ ?
In the bitcoin community, I have not seen any other business that would directly compete with us.
(5) How will you compete against each of them ?
BZ plans to make a portal which will allow customers and merchants to find people to trade their products and services with. Customers will be secure in knowing that each transaction must go through authorization by both the customer and the merchant.
(6) What is your target merchant ?
BZ is here to help anyone who wants to sell their products or services to the bitcoin community. Anyone who wants a simple and easy to use merchant interface, and wants to focus on customers and not on the technology side of running a website, will find BZ a great option.
(7) What would be the average annual revenue in BTC of a typical merchant ?
I don’t like to speculate on the potential earnings of a business. Some businesses will make more than others, just like any venture.
(
What would be the average annual profit in BTC of a typical merchant ?
Again, I don’t know how other people will mark up their services or products, or the situation others are in.
(9) What, if any, restrictions would you place on what a merchant can sell through BZ ?
BZ must comply with all US laws in this category. Anything considered illegal by law, will not be allowed for sale on our site . For example, BZ will not allow a merchant to sell prescription drugs or any drugs that are regulated. No explosives or guns of any kind, or any illegal transactions.
(10) What will your pricing model be for these merchants ?
I have not yet chosen a specific pricing model but I am leaning towards an industry standard of 5-15% commission on sales. It all depends on further research.
(11) How do you intend to promote / advertise to these merchants ?
BZ will not advertise to an individual merchant, we will focus on advertising BZ as a whole. Similar to how Amazon or eBay promote their services; Individual merchants will also able to promote their products/services through our website.
(12) How have you reached a current valuation of 40,000 BTC for BZ ?
The current valuation is not 40k BTC. It is actually just 10k BTC. I chose that value because that is how much I think this endeavor is worth at the moment.
(13) Where is BZ registered ?
BZ is currently only registered on GLBSE. A business certificate is pending, as well as registering as LLC status.
(14) How many people are employed by BZ and what are the terms of each of their employment ?
Currently I am the only person working on BZ. All current needs are being outsourced until we can hire on permanent staff.
(15) What assets does BZ currently own ? (What would the shareholders be acquiring a 25% ownership of ?)
BZ currently owns its domain name. Shareholders will be acquiring 25% ownership of potential future income .
(16) When do you intend to start allowing merchants to operate through BZ ?
I plan on opening BZ to select merchants within the next two months, after the site is developed and fully tested. BZ will then completely open its doors to anyone, a month after that.
(17) Who owns the remaining 75% of BZ ?
I own the remaining 75%
(18) Do you intend to pay dividends to share owners ? If so, at what frequency ?
If it is decided to register as an LLC, then Dividends are required by law and will be paid out at an interval decided through member votes.
(19) What business information will you make available to shareholders ? At what frequency ?
All financial information will be open to all members for reviews as needed.
(20) What is your objective in selling 25% of Bitcoin Bazaar through GLBSE ?
My sole objective in selling 25% of the company now, is to raise enough capital to get everything started. These funds will be used to get the site up and running, developed and hosted on a scalable infrastructure.
(21) What other businesses do you own / partly own ?
I currently own BitCoinWebHost and BitPorium.
(22) What other businesses do you operate / partly operate ?
I operate BitCoinWebHost and BitPorium.
(23) What is your current occupation ?
I am a college student on my second year, and my occupation is running my businesses.
(24) How many hours per week will you aim to commit to BZ operations / activities ?
I plan on working 30-60+ hours per week on BZ, in order to build a successful website that the community can trust to conduct business. Creating the proper bonds and providing the safest and most secured service in this industry, will allow BZ to gain competitive advantage. Since the competition in this industry is relatively low, earning the pioneering title is absolutely attainable. My goal is to make BZ the market leader in the industry by focusing on a broad differentiation strategy.
(1) Who are you ? What is your background ?
My name is Eric Morales and I have been involved in the Bitcoin community since April this year. I believe this industry is an amazing idea that can blossom into something huge and lucrative, by providing all the transactional services to merchants through a host website. I have been searching for a viable business for a few years now, and BZ would be my third business venture. I started a small wholesale company back in '07 while I was still in high school and the experience taught me a lot about what it took to make a business work. This year I started BitCoinWebHost and I was finally able to gain valuable experience on how to make a business profitable. I also started my business BitPorium to learn how the retail market worked. The dedication and time I have put into BitPorium has taught me a lot about dealing with customers.
(2) What other user names do you use / have you used on this forum ?
I have only used BitCoinWebHost on this forum.
(3) What makes BZ unique in the marketplace ?
BZ will allow merchants to provide their products to the bitcoin community without having to deal with the technology that makes everything work. A merchant can simply sign up for our service and immediately reach their customer base and focus only on dealing with customers, adding products to the store and accessing any orders that come in. The merchant will not need to worry about web site maintenance, running a Bitcoin server or even verifying payments.
(4) Who do you consider the top 5 competitors to BZ ?
In the bitcoin community, I have not seen any other business that would directly compete with us.
(5) How will you compete against each of them ?
BZ plans to make a portal which will allow customers and merchants to find people to trade their products and services with. Customers will be secure in knowing that each transaction must go through authorization by both the customer and the merchant.
(6) What is your target merchant ?
BZ is here to help anyone who wants to sell their products or services to the bitcoin community. Anyone who wants a simple and easy to use merchant interface, and wants to focus on customers and not on the technology side of running a website, will find BZ a great option.
(7) What would be the average annual revenue in BTC of a typical merchant ?
I don’t like to speculate on the potential earnings of a business. Some businesses will make more than others, just like any venture.
(
What would be the average annual profit in BTC of a typical merchant ?Again, I don’t know how other people will mark up their services or products, or the situation others are in.
(9) What, if any, restrictions would you place on what a merchant can sell through BZ ?
BZ must comply with all US laws in this category. Anything considered illegal by law, will not be allowed for sale on our site . For example, BZ will not allow a merchant to sell prescription drugs or any drugs that are regulated. No explosives or guns of any kind, or any illegal transactions.
(10) What will your pricing model be for these merchants ?
I have not yet chosen a specific pricing model but I am leaning towards an industry standard of 5-15% commission on sales. It all depends on further research.
(11) How do you intend to promote / advertise to these merchants ?
BZ will not advertise to an individual merchant, we will focus on advertising BZ as a whole. Similar to how Amazon or eBay promote their services; Individual merchants will also able to promote their products/services through our website.
(12) How have you reached a current valuation of 40,000 BTC for BZ ?
The current valuation is not 40k BTC. It is actually just 10k BTC. I chose that value because that is how much I think this endeavor is worth at the moment.
(13) Where is BZ registered ?
BZ is currently only registered on GLBSE. A business certificate is pending, as well as registering as LLC status.
(14) How many people are employed by BZ and what are the terms of each of their employment ?
Currently I am the only person working on BZ. All current needs are being outsourced until we can hire on permanent staff.
(15) What assets does BZ currently own ? (What would the shareholders be acquiring a 25% ownership of ?)
BZ currently owns its domain name. Shareholders will be acquiring 25% ownership of potential future income .
(16) When do you intend to start allowing merchants to operate through BZ ?
I plan on opening BZ to select merchants within the next two months, after the site is developed and fully tested. BZ will then completely open its doors to anyone, a month after that.
(17) Who owns the remaining 75% of BZ ?
I own the remaining 75%
(18) Do you intend to pay dividends to share owners ? If so, at what frequency ?
If it is decided to register as an LLC, then Dividends are required by law and will be paid out at an interval decided through member votes.
(19) What business information will you make available to shareholders ? At what frequency ?
All financial information will be open to all members for reviews as needed.
(20) What is your objective in selling 25% of Bitcoin Bazaar through GLBSE ?
My sole objective in selling 25% of the company now, is to raise enough capital to get everything started. These funds will be used to get the site up and running, developed and hosted on a scalable infrastructure.
(21) What other businesses do you own / partly own ?
I currently own BitCoinWebHost and BitPorium.
(22) What other businesses do you operate / partly operate ?
I operate BitCoinWebHost and BitPorium.
(23) What is your current occupation ?
I am a college student on my second year, and my occupation is running my businesses.
(24) How many hours per week will you aim to commit to BZ operations / activities ?
I plan on working 30-60+ hours per week on BZ, in order to build a successful website that the community can trust to conduct business. Creating the proper bonds and providing the safest and most secured service in this industry, will allow BZ to gain competitive advantage. Since the competition in this industry is relatively low, earning the pioneering title is absolutely attainable. My goal is to make BZ the market leader in the industry by focusing on a broad differentiation strategy.
September 01, 2011, 09:15:25 PM
I will get back to you on answers for those questions. Trying to make sure I answer them fully and most importantly clearly.
September 01, 2011, 12:32:06 PM
I have a further, very significant in light of the behaviour of other GLBSE company CEOs, set of questions ...
(21) What other businesses do you own / partly own ?
(22) What other businesses do you operate / partly operate ?
(23) What is your current occupation ?
(24) How many hours per week will you aim to commit to BZ operations / activities ?
(21) What other businesses do you own / partly own ?
(22) What other businesses do you operate / partly operate ?
(23) What is your current occupation ?
(24) How many hours per week will you aim to commit to BZ operations / activities ?
August 31, 2011, 07:11:39 AM
I am certainly interested in investing in this sort of Bitcoin company - it is great to see another investment opportunity on GLBSE in something other than mining :O)
Before I invest, I have some questions which I would like you to answer ...
(1) Who are you ? What is your background ?
(2) What other user names do you use / have you used on this forum ?
(3) What makes BZ unique in the marketplace ?
(4) Who do you consider the top 5 competitors to BZ ?
(5) How will you compete against each of them ?
(6) What is your target merchant ?
(7) What would be the average annual revenue in BTC of a typical merchant ?
( What would be the average annual profit in BTC of a typical merchant ?
(9) What, if any, restrictions would you place on what a merchant can sell through BZ ?
(10) What will your pricing model be for these merchants ?
(11) How do you intend to promote / advertise to these merchants ?
(12) How have you reached a current valuation of 40,000 BTC for BZ ?
(13) Where is BZ registered ?
(14) How many people are employed by BZ and what are the terms of each of their employment ?
(15) What assets does BZ currently own ? (What would the shareholders be acquiring a 25% ownership of ?)
(16) When do you intend to start allowing merchants to operate through BZ ?
(17) Who owns the remaining 75% of BZ ?
(18) Do you intend to pay dividends to share owners ? If so, at what frequency ?
(19) What business information will you make available to shareholders ? At what frequency ?
(20) What is your objective in selling 25% of Bitcoin Bazaar through GLBSE ?
Before I invest, I have some questions which I would like you to answer ...
(1) Who are you ? What is your background ?
(2) What other user names do you use / have you used on this forum ?
(3) What makes BZ unique in the marketplace ?
(4) Who do you consider the top 5 competitors to BZ ?
(5) How will you compete against each of them ?
(6) What is your target merchant ?
(7) What would be the average annual revenue in BTC of a typical merchant ?
(
What would be the average annual profit in BTC of a typical merchant ?(9) What, if any, restrictions would you place on what a merchant can sell through BZ ?
(10) What will your pricing model be for these merchants ?
(11) How do you intend to promote / advertise to these merchants ?
(12) How have you reached a current valuation of 40,000 BTC for BZ ?
(13) Where is BZ registered ?
(14) How many people are employed by BZ and what are the terms of each of their employment ?
(15) What assets does BZ currently own ? (What would the shareholders be acquiring a 25% ownership of ?)
(16) When do you intend to start allowing merchants to operate through BZ ?
(17) Who owns the remaining 75% of BZ ?
(18) Do you intend to pay dividends to share owners ? If so, at what frequency ?
(19) What business information will you make available to shareholders ? At what frequency ?
(20) What is your objective in selling 25% of Bitcoin Bazaar through GLBSE ?
August 24, 2011, 02:27:03 AM
Hello,
After a few months of leaving this project on the back burner I have come up with a rescope. Something that is small but will function without much issue.
Details of BZ pricing
1,000,000(One Million) Shares of BZ exist on the GLBSE which equal 100% off the company.
At this time I have transferred 750,000(Seven-Hundred Fifty thousand) shares to my personal GLBSE account.
250,000(Two-Hundred fifty Thousand) shares were put on sale @ 0.001 BTC per share.
With the funds that will be raised from the sale of these shares (250 BTC) the following will be done.
Software modules to make the store compatible with our shopping model. ~35-50 btc
Template for site(Make it look nice and approachable) ~10 btc
Software to optimize site and increase performance (mostly page caching) ~25-35 btc
Advertising ~100-150 BTC (Get the word out)
~25 btc for support staff and administration.
What I am putting in:
Web Hosting. Right now I will be paying for the webhosting for this site. Will be hosted on a cloud based hosting platform with high scalability and a secured and stable infrastructure.
Setting everything up. I will set up the site to be ready to accept vendors and customers alike.
Deal with prospective vendors and show this solution to them as a viable alternative to self hosting or as a way to increase sales via our site.
Promote the BZ name as a service of quality and trust.
Service description:
BZ will focus on providing a stable/secure environment for vendors to bring their products and services to the bitcoin community. BZ will act as a an intermediary to all customers and vendors alike. BZ will act as an escrow to provide peace of mind to customers. BZ will verify each vendor before allowing them to use the services provided by BZ.
BZ is something like a mall and each vendor will be a store in that mall. Customers can chose which shops they visit and where they buy from with the knowledge that their transactions are safe. In the event of a dispute BZ will act an arbiter to help find a resolution for both parties.
My goal is to raise all the funds needed so the site can launch in Mid June to early August. Sooner if possible.
i am willing to hear any suggestions you may have.
After a few months of leaving this project on the back burner I have come up with a rescope. Something that is small but will function without much issue.
Details of BZ pricing
1,000,000(One Million) Shares of BZ exist on the GLBSE which equal 100% off the company.
At this time I have transferred 750,000(Seven-Hundred Fifty thousand) shares to my personal GLBSE account.
250,000(Two-Hundred fifty Thousand) shares were put on sale @ 0.001 BTC per share.
With the funds that will be raised from the sale of these shares (250 BTC) the following will be done.
Software modules to make the store compatible with our shopping model. ~35-50 btc
Template for site(Make it look nice and approachable) ~10 btc
Software to optimize site and increase performance (mostly page caching) ~25-35 btc
Advertising ~100-150 BTC (Get the word out)
~25 btc for support staff and administration.
What I am putting in:
Web Hosting. Right now I will be paying for the webhosting for this site. Will be hosted on a cloud based hosting platform with high scalability and a secured and stable infrastructure.
Setting everything up. I will set up the site to be ready to accept vendors and customers alike.
Deal with prospective vendors and show this solution to them as a viable alternative to self hosting or as a way to increase sales via our site.
Promote the BZ name as a service of quality and trust.
Service description:
BZ will focus on providing a stable/secure environment for vendors to bring their products and services to the bitcoin community. BZ will act as a an intermediary to all customers and vendors alike. BZ will act as an escrow to provide peace of mind to customers. BZ will verify each vendor before allowing them to use the services provided by BZ.
BZ is something like a mall and each vendor will be a store in that mall. Customers can chose which shops they visit and where they buy from with the knowledge that their transactions are safe. In the event of a dispute BZ will act an arbiter to help find a resolution for both parties.
My goal is to raise all the funds needed so the site can launch in Mid June to early August. Sooner if possible.
i am willing to hear any suggestions you may have.
Jump to: