ATTENTION:
I am taking BitDedi off of GLBSE!
ALL SHAREHOLDERS ARE ENTITLED TO SOME SORT OF REFUND!
PLEASE EMAIL [email protected] FOR DETAILS!
Topic: BitDedi (Read 2033 times)
I am in the middle of developing the automatic script.... and if all goes well, will be done by tonight.
As for graphics, I think your right. I am going to work on getting everything done, and then will make the website look nice. Although looking good is important, I think that quality service is better... and I strive to provide that. As I said, though, I will be working on making it look nice after I get the automatic script done.
Thanks for the advice!
-DanielDaniel
As for graphics, I think your right. I am going to work on getting everything done, and then will make the website look nice. Although looking good is important, I think that quality service is better... and I strive to provide that. As I said, though, I will be working on making it look nice after I get the automatic script done.
Thanks for the advice!
-DanielDaniel
How is the automation script coming along?
You're going to have to do a better job on the website before you will attract any investors.
It's just a plain text document with a static form at the bottom.
Right now, your company isn't worth anything, let alone the 234 btc that you are valuing your company at with an IPO of 0.1 btc/share and 2340 total shares.
My advice would be to get the site to at least a semi-developed phase by yourself first to show that you are a competent person to invest in.
You're going to have to do a better job on the website before you will attract any investors.
It's just a plain text document with a static form at the bottom.
Right now, your company isn't worth anything, let alone the 234 btc that you are valuing your company at with an IPO of 0.1 btc/share and 2340 total shares.
My advice would be to get the site to at least a semi-developed phase by yourself first to show that you are a competent person to invest in.
Selling shares on GLBSE at 50% off to people who have bought at least two hours of my server!
25% off for one!
25% off for one!
The place that I am renting the server's from has an API! This means that I may be able to make it completely automated...!
Anyone who wants to invest, do it before it gets automated (it might go up... lol).
Anyone who wants to invest, do it before it gets automated (it might go up... lol).
Working on the auto-payment now.
Also, if anyone wants any monthly plans, I am in ##bitdedi on freenode right now!
-DanielDaniel
Also, if anyone wants any monthly plans, I am in ##bitdedi on freenode right now!
-DanielDaniel
No problem. I hope you succeed because I want to see more options for businesses in the bitcoin economy to cut their fiat cost risks. I would have great use for your service. Reasonably priced, scalable dedicated server plans that I could pay for in bitcoin would be very nice indeed.
Did not see that... and yes, I do know some PHP.
Thanks!
-DanielDaniel
Thanks!
-DanielDaniel
Do you know any php? It can be done pretty easily. Here is the MtGox HTTP API documentation on the bitcoin wiki:
https://en.bitcoin.it/wiki/MtGox/API#HTTP_API
It has a few straight forward examples that you can follow.
Here is a more brief overview of the API on MtGox:
https://mtgox.com/support/tradeAPI
https://en.bitcoin.it/wiki/MtGox/API#HTTP_API
It has a few straight forward examples that you can follow.
Here is a more brief overview of the API on MtGox:
https://mtgox.com/support/tradeAPI
I think its impossible with the mtgox api... 
I will try to do it right now... but you are right, it is complicated.
What I would do is make an automatic script that takes the client's order, waits for payment to be received, then initiates a sale on MtGox using their API for the exact amount required to pay for the server in USD. The rest of the coin could remain in your wallet as a buffer in case the market goes against you on future orders.
You don't have to withdraw the fiat from mtgox immediately either, you could wait until you have accumulated enough to save on fees. As long as you cash out enough coin immediately to pay for the cost, you can use the market capital from the IPO as a float for the paypal account.
Complicated though, and you would need a better website interface. But I think it is possible.
You don't have to withdraw the fiat from mtgox immediately either, you could wait until you have accumulated enough to save on fees. As long as you cash out enough coin immediately to pay for the cost, you can use the market capital from the IPO as a float for the paypal account.
Complicated though, and you would need a better website interface. But I think it is possible.
I am going to sell the btc, have it transferred to my bank, and then transfer to paypal. Directly to paypal it too risky. Also, I would definitely do that (the quote expiration). I would tell them that it would be a certain price for an hour.
-DanielDaniel
-DanielDaniel
I am probably going to cash out immediately, and when it comes time to pay dividends, buy some BTC to give out as dividends.
I would cash out immediately so I can get the money into my paypal, which pays for the servers.
I would cash out immediately so I can get the money into my paypal, which pays for the servers.
It's better to only cash out the amount you need in order to pay fiat costs. If the price of btc rises, you have to pay more if you plan to buy btc to pay dividends. You are increasing your risk exposure by cashing out everything immediately.
Also there is a time lag between the time you quote the price to the client and the time they actually send payment. They might delay for 24 hours, in which case your quote would no longer be valid. If you plan to run on tight margins, you will have to ensure that the quote expires after an hour or two if it is not paid.
Also, don't forget about taking the cost of a paypal lodgment into consideration. Have you got a reliable exchanger for paypal that is not going to chargeback after you send the bitcoins? How much commission do you pay for btc:paypal transactions?
I am probably going to cash out immediately, and when it comes time to pay dividends, buy some BTC to give out as dividends.
I would cash out immediately so I can get the money into my paypal, which pays for the servers.
I would cash out immediately so I can get the money into my paypal, which pays for the servers.
Todays btc:usd range was 2.85 - 3.14999, or $0.29999. If you took an order at $3.14999 @ $0.08c profit (your original 1c profit + the 7c price increase) and didn't cash out until 2.85, you would be down by $0.21999 making a loss of 31%. Some days the range can be even wider.
I'd aim for at least a 50% profit margin in this environment. It's much higher than you would ideally like to charge, but it will ensure your business does not suffer any losses without having to hedge your earnings carefully by speculating on the price. It will give you time to cash out the fiat and still have some bitcoin profit left to pay to shareholders.
Most people are willing to pay the premium for well operated services that can be paid for in bitcoin. It helps them to reduce their own risk by paying for as many of their costs in bitcoin as they can. If you run a reliable business, you will get eager clients even if the price is slightly higher.
I'd aim for at least a 50% profit margin in this environment. It's much higher than you would ideally like to charge, but it will ensure your business does not suffer any losses without having to hedge your earnings carefully by speculating on the price. It will give you time to cash out the fiat and still have some bitcoin profit left to pay to shareholders.
Most people are willing to pay the premium for well operated services that can be paid for in bitcoin. It helps them to reduce their own risk by paying for as many of their costs in bitcoin as they can. If you run a reliable business, you will get eager clients even if the price is slightly higher.
I don't want to make it too much... should I up it by $0.05 a plan?
I upped it by $0.05 - $0.07 a plan.
I upped it by $0.05 - $0.07 a plan.
You should definitely increase the price. You are only making about a 1.5% profit on the biggest plan, that is not nearly enough. Unless you cash out the bitcoin instantly, you will be dealing with costs more volatile than your profit margin can withstand. If the value of btc drops by 1.5% while you are holding it, your profit is immediately wiped out, any further you will be going into the red. And a 1.5% drop is nothing in the bitcoin markets.
How high are your utility bills?
I am not sure what you mean by this... do you mean the cost of the servers? If so, I am renting them on-demand, and I am letting people pay for them with bitcoins.
I am not sure what you mean by this... do you mean the cost of the servers? If so, I am renting them on-demand, and I am letting people pay for them with bitcoins.
How much does the on-demand rental cost you? And how much profit in btc are you making on each rental once you have paid your fiat costs? Is the price of the rental linked to the btc:usd exchange rate, or do you charge a fixed flat rate?
A breakdown of your expenses such as the btc required to cover your fiat and non-fiat expenses, as well as you growth estimates/earnings projections would be helpful too.
Keep up the good work mate!
The on-demand rental costs me about $0.01 (yes, that is USD) less than what im selling it for. So im making a $0.01 USD profit off every hour (not much...
).It is linked to the btc:usd exchange rate... I will set a BTC cost on demand. I can do a fixed-flat-rate for monthly services, though.
I may partner with another company that provides VPS's in the future, and I really don't know about earnings. It depends on how many people buy the servers, in #bitcoin-otc, business has been pretty good. I have sold ~4 servers in 3 days. No monthly deals yet, though.
Any other questions, ask!
-DanielDaniel
How high are your utility bills?
I am not sure what you mean by this... do you mean the cost of the servers? If so, I am renting them on-demand, and I am letting people pay for them with bitcoins.
I am not sure what you mean by this... do you mean the cost of the servers? If so, I am renting them on-demand, and I am letting people pay for them with bitcoins.
How much does the on-demand rental cost you? And how much profit in btc are you making on each rental once you have paid your fiat costs? Is the price of the rental linked to the btc:usd exchange rate, or do you charge a fixed flat rate?
A breakdown of your expenses such as the btc required to cover your fiat and non-fiat expenses, as well as you growth estimates/earnings projections would be helpful too.
Keep up the good work mate!
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