You can just sell the bitcoins. That is not a problem for some individuals. Others have problems finding individuals to buy. Certacoin in actuality purchases your coins directly from you. No middle man. What ever the market price is you will lock in at the time of purchase. It is actually just a twist on selling your bitcoins to us. The whole idea is to avoid money transmission laws. We do not buy your coins and sell them to anyone else. We only purchase for our company. The concept does work. The past month or so has been very exciting so I can only imagine what the future holds. The best thing about Certacoin is that it is not just a company that is trying to exploit Bitcoin. We are truly trying to help the industry grow.
As for our certificate:
They hold no value on the open market and are more like a receipt for your transaction.
Topic: certacoin.com If you want cash for your Bitcoin there is none better (Read 2073 times)
November 23, 2013, 10:44:51 AM
November 23, 2013, 12:00:31 AM
Actually, I must be tired... .because "upon further review"... I seem to be missing something here.
Why would I send you my bitcoins, have you sell them, charge me to do so, you keep the cash, and I retain zero upside potential but don't have the cash in my hands, you do.
Am I missing something here?
Why wouldn't I just sell the bitcoins?
SQ
Why would I send you my bitcoins, have you sell them, charge me to do so, you keep the cash, and I retain zero upside potential but don't have the cash in my hands, you do.
Am I missing something here?
Why wouldn't I just sell the bitcoins?
SQ
November 22, 2013, 11:54:30 PM
I would also be concerned that this "Certificate" concept is dangerously close to be a security as defined under the Securities Acts of '33 and '34.
Your intentions may be pure but you might need to check with a securities attorney.
I had actually been expecting one of the BIG players to come out with a Bitcoin money market that, for a fee, provides you a stable value, at the btc price point at which buy in (for a fee of course) but provides a piece of the upside (Just a piece, now, mind you LOL).
So, you give up a big chunk of the upside in exchange for now downside.
That's the type of stuff that Goldman Sachs and the rest of the Barbarians at the Gate salivate over.
Trust me... I guarantee you that Goldman, Chase, Morgan Stanley, et. al. have ideas on the back of a paper napkin for this idea right now.
Anyway, I digress and you won't see that type of a sophisticated derivative until the btc market cap is up in the $10Billion Market Cap range. There has to be enough profit for the big boys to build and deliver such a product.
I'm just saying....
SQ
Your intentions may be pure but you might need to check with a securities attorney.
I had actually been expecting one of the BIG players to come out with a Bitcoin money market that, for a fee, provides you a stable value, at the btc price point at which buy in (for a fee of course) but provides a piece of the upside (Just a piece, now, mind you LOL).
So, you give up a big chunk of the upside in exchange for now downside.
That's the type of stuff that Goldman Sachs and the rest of the Barbarians at the Gate salivate over.
Trust me... I guarantee you that Goldman, Chase, Morgan Stanley, et. al. have ideas on the back of a paper napkin for this idea right now.
Anyway, I digress and you won't see that type of a sophisticated derivative until the btc market cap is up in the $10Billion Market Cap range. There has to be enough profit for the big boys to build and deliver such a product.
I'm just saying....
SQ
November 22, 2013, 08:53:47 PM
We are sticking to the business plan and we are growing very quickly. We just had our whole site redeveloped and business is booming.
November 07, 2013, 03:08:46 AM
As of right now I just hired a team to do the web design. Hopefully a more professional presence can help the business. Thank you for all the pointers. They are greatly appreciated.
November 07, 2013, 02:50:54 AM
As for capital we started with $10,000 but no real capital is needed because when a purchase is made the coins are sold on the market via exchange and the funds are transfered out to our business account at the close of each business day.
We have our business license based out of New Jersey. We are a real LLC and if this business model proves itself we will put more into it. So far we have only two sales $50 and $5,000 which have come from the same customer. We have paid out and they are happy. Hopefully we can attract more business.
We have our business license based out of New Jersey. We are a real LLC and if this business model proves itself we will put more into it. So far we have only two sales $50 and $5,000 which have come from the same customer. We have paid out and they are happy. Hopefully we can attract more business.
Just stick with it, as you build trust customers will come. Also it might not hurt to redesign the website using a CSS framework like twitter bootstrap or foundation. They are pretty easy to use if you have some basic knowledge of html and css. The current design makes your website look quite unprofessional I have to say. I do not live in the US but if I did and wanted to exchange bitcoins, I wouldn't trust you solely due to the design of the website.
November 05, 2013, 06:13:02 PM
As for capital we started with $10,000 but no real capital is needed because when a purchase is made the coins are sold on the market via exchange and the funds are transfered out to our business account at the close of each business day.
We have our business license based out of New Jersey. We are a real LLC and if this business model proves itself we will put more into it. So far we have only two sales $50 and $5,000 which have come from the same customer. We have paid out and they are happy. Hopefully we can attract more business.
We have our business license based out of New Jersey. We are a real LLC and if this business model proves itself we will put more into it. So far we have only two sales $50 and $5,000 which have come from the same customer. We have paid out and they are happy. Hopefully we can attract more business.
November 05, 2013, 06:08:34 PM
No it is not automated yet. This is the test phase of the website. If it does well then we will go for all out programming and make it more professional.
November 04, 2013, 08:07:21 PM
http://www.certacoin.com/purchase-certificate/
Please save your order number and email us after your purchase. This will be part of the SERIAL # of your certificate.
Why does the customer have to send you an email?
Isn't it all automated?
Please save your order number and email us after your purchase. This will be part of the SERIAL # of your certificate.
Why does the customer have to send you an email?
Isn't it all automated?
November 04, 2013, 08:05:53 PM
I guess but why would you want to purchase a Certacoin certificate for cash if it is only worth that value in cash. To me it really makes no sense and was designed to lock in instant value into your Bitcoin and later be redeemed for cash.
I'm a simple man. If I wanted to cash out Bitcoins (XBT), I'll take cash anytime. Then I'll walk down to the local grocery run by a foreigner who doesn't know anything about XBT.
November 04, 2013, 08:03:36 PM
1. What is your paid up capital?
2. Do you have a licence to operate this business in your area?
2. Do you have a licence to operate this business in your area?
November 04, 2013, 07:37:12 PM
I guess but why would you want to purchase a Certacoin certificate for cash if it is only worth that value in cash. To me it really makes no sense and was designed to lock in instant value into your Bitcoin and later be redeemed for cash.
Just if you could exchange it for BTC at that point, as an alternative to other methods. October 30, 2013, 04:05:21 PM
I guess but why would you want to purchase a Certacoin certificate for cash if it is only worth that value in cash. To me it really makes no sense and was designed to lock in instant value into your Bitcoin and later be redeemed for cash.
October 30, 2013, 10:06:05 AM
Is it possible or planned to add cash as a means of purchasing these, and/or Bitcoin as a means of refund?
October 29, 2013, 11:12:43 AM
Hey can you guys check out the new logo and tell me what you think?
October 29, 2013, 10:57:07 AM
When a certificate is purchased it is converted to US currency at the bitpay market rate at that point in time. The business model is no different than purchasing another item at retail. For instance if you buy a tv for $1000 the store gets the money and you get the tv. Well when you purchase a certificate it is like selling any other product and your coin is converted to US currency via a bitpay merchant account. The certificate locks in value immediately. The certificates are really designed to be purchased and redeemed. I can not imagine a customer really holding them for an extended period of time.
Yes if you do hold and the price goes up you do not gain but on the other hand if bitcoin drops you will not lose either. The business or the customer will not lose. If you purchase a $1000 certificate you will get almost the entire $1000 minus the $6.00 shipping for a cash redemption.
This is not bad for a client whom wishes to get cash for their bitcoin. The service may not be for everyone but I know I needed a service like this a time ago and did not see one around. I know my trust level is low because I am new but I truely am here to gain a place in the market and help bitcoin grow.
Yes if you do hold and the price goes up you do not gain but on the other hand if bitcoin drops you will not lose either. The business or the customer will not lose. If you purchase a $1000 certificate you will get almost the entire $1000 minus the $6.00 shipping for a cash redemption.
This is not bad for a client whom wishes to get cash for their bitcoin. The service may not be for everyone but I know I needed a service like this a time ago and did not see one around. I know my trust level is low because I am new but I truely am here to gain a place in the market and help bitcoin grow.
October 29, 2013, 02:16:58 AM
A paper wallet is nothing more than that. A piece of paper storing your coins for transfer at a later time to another wallet. Certacoin on the other hand is a certificate that holds its value and when you want a refund your refund is paid in cash, check or money order. This is a way around waiting for long exchange processing times. Thanks for your interest
Certacoin holding its value is not necessarily a good thing. If I buy $1000 certificate today when bitcoins are $200 each and hold it, then I decide 2 days later I need cash and bitcoin is now $210, then I end up losing $50 from not getting the appreciation of the coins as well as another $60 from your processing fee. That's 11%. The flip side is that 2 days later the coins are worth $50 each, in which case you owe me $1000 for something that's worth $250, even adding in your $60 processing fee, you owe more than 3 times what I paid you for the certificate, in which case I can't see how your business model is sustainable.
October 28, 2013, 08:48:21 PM
I do understand and thanks for the link. My main goal is to simply try and see if it works. I own a couple other businesses.
First off I own www.hookahwand.com
I own naivenes smoke shop in newark,nj
I own hippyhut in bayonne, nj https://www.facebook.com/pages/Hippy-Hut/424673467607643
I also use to own epidemicincense.com when it was legal
I am trying to feel everything out in this market and then I will go all out. I understand there are many scammers but I am not one. There is no point to take from someone when you can just provide a great service and they will come back again and again.
First off I own www.hookahwand.com
I own naivenes smoke shop in newark,nj
I own hippyhut in bayonne, nj https://www.facebook.com/pages/Hippy-Hut/424673467607643
I also use to own epidemicincense.com when it was legal
I am trying to feel everything out in this market and then I will go all out. I understand there are many scammers but I am not one. There is no point to take from someone when you can just provide a great service and they will come back again and again.
October 28, 2013, 05:45:52 PM
You guys are very rough on a newbie. Wow if this was the 1600's you guys would beat me, stone me and burn me at the stake. I am not a witch....
It's not that people are rough on newbies. It's that you're presenting your service as a viable, trustworthy, "none better" affair while simultaneously lacking the reputation, proof of competence, and evidence of thought and application that are absolutely required before you can make such claims. Have a read here.
Wanting to make something great is fine, insisting that your Mystery Bag is the greatest sack in town because you say so isn't.
October 28, 2013, 04:48:40 PM
You guys are very rough on a newbie. Wow if this was the 1600's you guys would beat me, stone me and burn me at the stake. I am not a witch....
Don't take it too personally. There have been so many scams around here that it's natural for everyone to be a bit paranoid.
Jump to: