Building a LocalBitcoins alternative - You can invest and earn dividend

100bitcoin

sr. member

Activity: 861

Merit: 423

Quote from: TigerMart on June 14, 2015, 01:30:59 PM

Quote from: 100bitcoin on June 13, 2015, 06:16:37 AM

Quote from: TigerMart on June 11, 2015, 06:25:16 PM

Quote from: 100bitcoin on June 10, 2015, 06:45:40 AM

Small volume is building up against various local currencies, though it is still very low. We have updated the OP in a proposal form. Looking for people's feedback...

How frequent do you plan to give dividend ?

It will be instant with each trade execution. Dividend will be distributes according to stock holding.

That is good. What if someone want to sell his holding and move on ? Will there be that provision ?

Yes... in the long run there will be provision for it.

TigerMart

full member

Activity: 271

Merit: 117

Quote from: 100bitcoin on June 13, 2015, 06:16:37 AM

Quote from: TigerMart on June 11, 2015, 06:25:16 PM

Quote from: 100bitcoin on June 10, 2015, 06:45:40 AM

Small volume is building up against various local currencies, though it is still very low. We have updated the OP in a proposal form. Looking for people's feedback...

How frequent do you plan to give dividend ?

It will be instant with each trade execution. Dividend will be distributes according to stock holding.

That is good. What if someone want to sell his holding and move on ? Will there be that provision ?

100bitcoin

sr. member

Activity: 861

Merit: 423

Quote from: TigerMart on June 11, 2015, 06:25:16 PM

Quote from: 100bitcoin on June 10, 2015, 06:45:40 AM

Small volume is building up against various local currencies, though it is still very low. We have updated the OP in a proposal form. Looking for people's feedback...

How frequent do you plan to give dividend ?

It will be instant with each trade execution. Dividend will be distributes according to stock holding.

TigerMart

full member

Activity: 271

Merit: 117

Quote from: 100bitcoin on June 10, 2015, 06:45:40 AM

Small volume is building up against various local currencies, though it is still very low. We have updated the OP in a proposal form. Looking for people's feedback...

How frequent do you plan to give dividend ?

Albert Hamilton

full member

Activity: 128

Merit: 100

Earning dividend from direct trading exchange ? Interesting concept I must say. Would be watching to see how this shapes up...

100bitcoin

sr. member

Activity: 861

Merit: 423

Small volume is building up against various local currencies, though it is still very low. We have updated the OP in a proposal form. Looking for people's feedback...

newIndia

legendary

Activity: 2226

Merit: 1052

Quote from: 100bitcoin on April 19, 2015, 04:44:08 PM

www.100bit.co.in is now operational. We are looking for active traders from different locations...

https://bitcointalksearch.org/topic/looking-for-active-traders-985796

If you have used the site, feel free to share your experience.

Volume will grow slowly with time. Keep up the good support...

100bitcoin

sr. member

Activity: 861

Merit: 423

www.100bit.co.in is now operational. We are looking for active traders from different locations...

https://bitcointalksearch.org/topic/looking-for-active-traders-985796

If you have used the site, feel free to share your experience.

100bitcoin

sr. member

Activity: 861

Merit: 423

Happy New Year bitcoiners

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...

The UI is almost ready. Check us out at www.100bit.co.in.

100bitcoin

sr. member

Activity: 861

Merit: 423

Quote from: Cryptopher on July 20, 2014, 06:32:56 AM

Quote from: 100bitcoin on July 20, 2014, 06:06:25 AM

Quote from: Cryptopher on July 19, 2014, 02:38:27 PM

Quote from: 100bitcoin on July 19, 2014, 11:52:39 AM

First of all, sorry for the delay. It will actually work for developing countries to bring in new members as part of the 0.01 BTC is going to be used as an incentive to the referrer. There are a lot of people out of the Bitcoin scenario in developing countries. We aim to reach them with mutual incentive.

And... there is no average of a scam attempt. The figure u r providing is highly fictitious. Anything that is NOT free is a hindrance to basic scam.

To me, having to pay a figure, even a small figure is off-putting. I guess it isn't so bad with Bitcoin as it is really easy to send payment without having to fill in forms of personal details.

However if I were a scammer, 0.01 BTC sign up fee would not put me off whatsoever. I'd associate it as a cost associated with attempting to scam. If I scammed 1 BTC then my net gains would only be 0.01 BTC less than it would have been in the instance of free entry.

Sure you use the 0.01 BTC to incentivise referrals, but I wouldn't advertise it as a mechanism to greatly reduce scamming, because it really isn't. I read that the Silk Road had a bond of ~4 BTC (it varied according to market value) for sellers, which they received back after a number of successful trades and over a minimum period. Now that's what I call collateral.

Sorry to know that. But u may consider it as a membership cost to enjoy bitcoin related services at comparatively low cost, e.g. to start off, our exchange commission is going to be 0.0005BTC

Wording it as a membership cost to start up etc doesn't sound so bad, but justifying it as a deterrent to reduce scammers isn't quite right.

Hope that it goes well!

Quote from: Victor Beckham on July 21, 2014, 05:15:35 AM

Nice project 100bit.co.in. Looking forward to the launch.

Thank u for your feedback

Victor Beckham

full member

Activity: 243

Merit: 100

Nice project 100bit.co.in. Looking forward to the launch.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Quote from: 100bitcoin on July 20, 2014, 06:06:25 AM

Quote from: Cryptopher on July 19, 2014, 02:38:27 PM

Quote from: 100bitcoin on July 19, 2014, 11:52:39 AM

First of all, sorry for the delay. It will actually work for developing countries to bring in new members as part of the 0.01 BTC is going to be used as an incentive to the referrer. There are a lot of people out of the Bitcoin scenario in developing countries. We aim to reach them with mutual incentive.

And... there is no average of a scam attempt. The figure u r providing is highly fictitious. Anything that is NOT free is a hindrance to basic scam.

To me, having to pay a figure, even a small figure is off-putting. I guess it isn't so bad with Bitcoin as it is really easy to send payment without having to fill in forms of personal details.

However if I were a scammer, 0.01 BTC sign up fee would not put me off whatsoever. I'd associate it as a cost associated with attempting to scam. If I scammed 1 BTC then my net gains would only be 0.01 BTC less than it would have been in the instance of free entry.

Sure you use the 0.01 BTC to incentivise referrals, but I wouldn't advertise it as a mechanism to greatly reduce scamming, because it really isn't. I read that the Silk Road had a bond of ~4 BTC (it varied according to market value) for sellers, which they received back after a number of successful trades and over a minimum period. Now that's what I call collateral.

Sorry to know that. But u may consider it as a membership cost to enjoy bitcoin related services at comparatively low cost, e.g. to start off, our exchange commission is going to be 0.0005BTC

Wording it as a membership cost to start up etc doesn't sound so bad, but justifying it as a deterrent to reduce scammers isn't quite right.

Hope that it goes well!

100bitcoin

sr. member

Activity: 861

Merit: 423

Quote from: Cryptopher on July 19, 2014, 02:38:27 PM

Quote from: 100bitcoin on July 19, 2014, 11:52:39 AM

First of all, sorry for the delay. It will actually work for developing countries to bring in new members as part of the 0.01 BTC is going to be used as an incentive to the referrer. There are a lot of people out of the Bitcoin scenario in developing countries. We aim to reach them with mutual incentive.

And... there is no average of a scam attempt. The figure u r providing is highly fictitious. Anything that is NOT free is a hindrance to basic scam.

To me, having to pay a figure, even a small figure is off-putting. I guess it isn't so bad with Bitcoin as it is really easy to send payment without having to fill in forms of personal details.

However if I were a scammer, 0.01 BTC sign up fee would not put me off whatsoever. I'd associate it as a cost associated with attempting to scam. If I scammed 1 BTC then my net gains would only be 0.01 BTC less than it would have been in the instance of free entry.

Sure you use the 0.01 BTC to incentivise referrals, but I wouldn't advertise it as a mechanism to greatly reduce scamming, because it really isn't. I read that the Silk Road had a bond of ~4 BTC (it varied according to market value) for sellers, which they received back after a number of successful trades and over a minimum period. Now that's what I call collateral.

Sorry to know that. But u may consider it as a membership cost to enjoy bitcoin related services at comparatively low cost, e.g. to start off, our exchange commission is going to be 0.0005BTC

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Quote from: 100bitcoin on July 19, 2014, 11:52:39 AM

First of all, sorry for the delay. It will actually work for developing countries to bring in new members as part of the 0.01 BTC is going to be used as an incentive to the referrer. There are a lot of people out of the Bitcoin scenario in developing countries. We aim to reach them with mutual incentive.

And... there is no average of a scam attempt. The figure u r providing is highly fictitious. Anything that is NOT free is a hindrance to basic scam.

To me, having to pay a figure, even a small figure is off-putting. I guess it isn't so bad with Bitcoin as it is really easy to send payment without having to fill in forms of personal details.

However if I were a scammer, 0.01 BTC sign up fee would not put me off whatsoever. I'd associate it as a cost associated with attempting to scam. If I scammed 1 BTC then my net gains would only be 0.01 BTC less than it would have been in the instance of free entry.

Sure you use the 0.01 BTC to incentivise referrals, but I wouldn't advertise it as a mechanism to greatly reduce scamming, because it really isn't. I read that the Silk Road had a bond of ~4 BTC (it varied according to market value) for sellers, which they received back after a number of successful trades and over a minimum period. Now that's what I call collateral.

100bitcoin

sr. member

Activity: 861

Merit: 423

Quote from: kittucrypt on June 11, 2014, 08:10:30 AM

Quote from: 100bitcoin on June 11, 2014, 06:09:38 AM

Quote from: Cryptopher on May 31, 2014, 10:19:53 PM

Quote from: ?? on ??

0.01 BTC joining fee has been introduced for 2 reason...

1. P2P exchange faces a problem of false buyers. Anyone just join the platform and try to scam sellers. To keep them at bay, we have introduced this small fee, as we understand 0.01 BTC is no big deal for a true trader.

I get why you might want to impose a fee to try and stop false buyers, but if they were going to scam then what is currently equivalent to approximately a $6 fee is not going to stop them. Of course, if Bitcoin continues to grow in price then it will be more.

I think that the fee is just a barrier to entry, unless you treat it as a bond which they can claim back upon successfully completing a couple of purchases.

I absolutely agree with u on the fact that 0.01 BTC barrier cant stop a desperate scammer. But, it cant stop them, even if I make it 1 BTC. We are having different trust system and other functions to stop them. 0.01 BTC is to stop a casual buyer that just attempts to scam on a free system. It'll bring down the volume of scam attempts, but wont nullify it.

0.01 BTC is NOT a barrier to users. It'll be used like a marketing incentive to those who refer us to new users. Please check above to see how 0.01 BTC is going to be used to reward members.

To me as a user, it does not matter how you use 0.01 btc. If the likelihood of getting scammed on this platform is as good as on any other platform, why would I bother paying 0.01?

And I dont think that 0.01 as a fee will bring down the volume of scams. The average scams run for 0.5-1 btc easily. 0.01 is hardly a cost.

First of all, sorry for the delay. It will actually work for developing countries to bring in new members as part of the 0.01 BTC is going to be used as an incentive to the referrer. There are a lot of people out of the Bitcoin scenario in developing countries. We aim to reach them with mutual incentive.

And... there is no average of a scam attempt. The figure u r providing is highly fictitious. Anything that is NOT free is a hindrance to basic scam.

BitCoinDream

legendary

Activity: 2394

Merit: 1216

The revolution will be digital

Quote from: Coinbuddy on June 11, 2014, 08:42:50 AM

if you want ideas and innovations then PM me.
i sell

Never heard of idea selling before. Someday, I'll probably hear about dream selling ...LoLz Cheesy

Coinbuddy

hero member

Activity: 896

Merit: 1000

if you want ideas and innovations then PM me.
i sell

kittucrypt

sr. member

Activity: 300

Merit: 253

Ok Check!

Quote from: 100bitcoin on June 11, 2014, 06:09:38 AM

Quote from: Cryptopher on May 31, 2014, 10:19:53 PM

Quote from: ?? on ??

0.01 BTC joining fee has been introduced for 2 reason...

1. P2P exchange faces a problem of false buyers. Anyone just join the platform and try to scam sellers. To keep them at bay, we have introduced this small fee, as we understand 0.01 BTC is no big deal for a true trader.

I get why you might want to impose a fee to try and stop false buyers, but if they were going to scam then what is currently equivalent to approximately a $6 fee is not going to stop them. Of course, if Bitcoin continues to grow in price then it will be more.

I think that the fee is just a barrier to entry, unless you treat it as a bond which they can claim back upon successfully completing a couple of purchases.

I absolutely agree with u on the fact that 0.01 BTC barrier cant stop a desperate scammer. But, it cant stop them, even if I make it 1 BTC. We are having different trust system and other functions to stop them. 0.01 BTC is to stop a casual buyer that just attempts to scam on a free system. It'll bring down the volume of scam attempts, but wont nullify it.

0.01 BTC is NOT a barrier to users. It'll be used like a marketing incentive to those who refer us to new users. Please check above to see how 0.01 BTC is going to be used to reward members.

To me as a user, it does not matter how you use 0.01 btc. If the likelihood of getting scammed on this platform is as good as on any other platform, why would I bother paying 0.01?

And I dont think that 0.01 as a fee will bring down the volume of scams. The average scams run for 0.5-1 btc easily. 0.01 is hardly a cost.

100bitcoin

sr. member

Activity: 861

Merit: 423

Quote from: Cryptopher on May 31, 2014, 10:19:53 PM

Quote from: ?? on ??

0.01 BTC joining fee has been introduced for 2 reason...

1. P2P exchange faces a problem of false buyers. Anyone just join the platform and try to scam sellers. To keep them at bay, we have introduced this small fee, as we understand 0.01 BTC is no big deal for a true trader.

I get why you might want to impose a fee to try and stop false buyers, but if they were going to scam then what is currently equivalent to approximately a $6 fee is not going to stop them. Of course, if Bitcoin continues to grow in price then it will be more.

I think that the fee is just a barrier to entry, unless you treat it as a bond which they can claim back upon successfully completing a couple of purchases.

I absolutely agree with u on the fact that 0.01 BTC barrier cant stop a desperate scammer. But, it cant stop them, even if I make it 1 BTC. We are having different trust system and other functions to stop them. 0.01 BTC is to stop a casual buyer that just attempts to scam on a free system. It'll bring down the volume of scam attempts, but wont nullify it.

0.01 BTC is NOT a barrier to users. It'll be used like a marketing incentive to those who refer us to new users. Please check above to see how 0.01 BTC is going to be used to reward members.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Quote from: ?? on ??

0.01 BTC joining fee has been introduced for 2 reason...

1. P2P exchange faces a problem of false buyers. Anyone just join the platform and try to scam sellers. To keep them at bay, we have introduced this small fee, as we understand 0.01 BTC is no big deal for a true trader.

I get why you might want to impose a fee to try and stop false buyers, but if they were going to scam then what is currently equivalent to approximately a $6 fee is not going to stop them. Of course, if Bitcoin continues to grow in price then it will be more.

I think that the fee is just a barrier to entry, unless you treat it as a bond which they can claim back upon successfully completing a couple of purchases.

Topic: Building a LocalBitcoins alternative - You can invest and earn dividend (Read 4373 times)