[HAVELOCK] Mintspare (MS) Bitcoin Electronic Trade-in Service - Official Thread - page 11.

MintSpare

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Quote from: Branny on January 21, 2014, 11:16:33 PM

What are your expected ad costs on those 1000k viewers?

Hello Branny,

We've already locked in advertising partnerships for 3 websites, giving us a total of 55k unique visitors viewing our ad per day. We should ramp it up to around 100k a day right before launch. The pricing for these 3 partnerships is 1.35 BTC/month. We were able to achieve these rates (as well as surpassing our initial goal) through 'door to door' manual requests for webmasters to create long term advertising partnerships with Mintspare. Our marketing budget for our one month Beta launch (starting either January 27th or February 3rd) is 5-6 BTC.

As an additional note, I (Galfry) will be present during the Bitcoin Conference in Miami this weekend. I would be more than happy to discuss with any potential investors as well as provide private tours of the Mintspare office/warehouse. If you're just looking to say hi, I love saying hi too!

Branny

sr. member

Activity: 406

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What are your expected ad costs on those 1000k viewers?

MintSpare

newbie

Activity: 34

Merit: 0

Progress Update 1/17/2014

The website's fundamentals are all complete, the website itself is fully functional. There are bugs here and there which we'll be squashing on the daily. Our site developer as well as our head of security are hard at work implementing security features throughout the website for the next 10 days or so. In the meantime we're testing out dummy orders to further iron out bugs before our beta launches. Marketing is also a key focus that we're constantly working on. We're aiming to have ads published on many bitcoin related sites, which will give us an ad exposure of roughly 1,000,000 unique visitor views for the first month of launch.

Summarized:

-Bug squashing
-Security implementation
-Testing orders
-Marketing

We're aiming to launch on a Monday, either January 27th or February 3rd.

bromide

newbie

Activity: 43

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Have a free bump. OP!
Chin up, for every idiotic idea, there's an idiot who buys into it.
By way of thanks for my kind words of encouragement, mind telling me how much Havelock charges for the month+ of fees for this IPO? Does it count as a month of trading? Did you have to pay in advance, or can you IPO on credit?

railzand

sr. member

Activity: 462

Merit: 250

Lux e tenebris

Quote from: MintSpare on January 12, 2014, 05:24:50 PM

Hope this was informative!

Yes it really was. I am so grateful to all the contibutors to this thread as I have learned a huge amount about business and how not to do it, how to set up a scam and where and when to just leave.
op could learn sth from these guys https://bitcointalk.org/index.php?topic=412586.0;topicseen

MintSpare

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Activity: 34

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Quote from: notme on January 12, 2014, 12:42:29 AM

As a potential investor, I was wondering if you would consider doing recycling of electronics. You could recycle purchased items that a beyond repair, as well as accept bulk electronics by the pound for recycling. I know I have tons of old shit that has to be more valuable than garpage dump filler. At the very least, there is bound to be some gold in them.

In addition, what about GPUs? I'm sure there are lots of used GPUs in the bitcoin community that should have decent resale value.

Hello notme,

Recycling items that are beyond repair for their precious metals wouldn't be cost effective. Since we're paying for shipping on all electronics sent to MintSpare, we'd be losing money on every shipment. That's not including having to either a) Pay for shipping to a company who retrieves precious metals from electronics or b) Purchase machinery that would allow us to retrieve the precious metals ourselves. We'll be steering clear of this for the foreseeable future.

We won't be revealing any information on potential expansion plans at this time but would like to assure you that we're hard at work growing revenue streams for MintSpare in the near future.

Hope this was informative!

notme

legendary

Activity: 1904

Merit: 1002

As a potential investor, I was wondering if you would consider doing recycling of electronics. You could recycle purchased items that a beyond repair, as well as accept bulk electronics by the pound for recycling. I know I have tons of old shit that has to be more valuable than garpage dump filler. At the very least, there is bound to be some gold in them.

In addition, what about GPUs? I'm sure there are lots of used GPUs in the bitcoin community that should have decent resale value.

cheaptar

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AMAZING COMPANY!

WillShill4BTC

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op need a hand?

William T. Shiller III

zevtiefenbach

newbie

Activity: 59

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Quote

You're correct, they would just have to borrow the funds for 30,000 shares.

effectively they would need to borrow $150,000 to scoop up the $100,000 sitting on the table.

they would then be able to try and liquidate the 30,000 floating stock that they hold to recuperate the $50,000 difference. but of course, there's not going to be much volume on the stock and trying to sell 60 % of the available float won't work too well.

however if a few more suckers put their money into this IPO and the ratio changes . . . say needing $100,000 to scoop the $150,000 sitting on the table. . . . now that's gotta be their wet dream . . .

twentyseventy

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Quote from: Thumper650 on January 10, 2014, 11:15:06 AM

Quote from: twentyseventy on January 10, 2014, 10:36:16 AM

Quote from: Thumper650 on January 10, 2014, 09:55:55 AM

Quote from: twentyseventy on January 09, 2014, 09:30:56 PM

Well, IPO day has come and gone with about 20,000 shares sold. I'm doubting that the next six weeks are going to see an additional 30,000 sold to reach the self-imposed minimum limit of 50,000 to call the IPO a success.

It's a bit too early to call it a flop but I hope that, if/when this IPO fails, the company will realize the folly of its ways and come back with a less one-sided public offering.

Lol, if 20k shares have really been sold, and the d00d has any scratch/connections, he'll buy the remaining 30k himself. Profit.

The company/founders weren't willing to put up any capital before the IPO, why would they now? Also, if you buy 30,000 shares so that the company can acquire 20,000 shares, that's not a net gain.

You're forgetting that "the founders" will get both the coin spent on the 20k shares, and the coin they have "invested" by buying the 30k shares. Minus the Havelock fees, of course.
That's a net gain.

*Think of it like this:
1. If 50k pennies are in the pot, you win the pot.
2. Other players have anted up 20k pennies.
3. You add 30k pennies to the pot, and rake it in.
4. Profit. Since you won the pot, you get to take back the money you threw in. Minus the house edge (Havelock)

You're correct, they would just have to borrow the funds for 30,000 shares.

Thumper650

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Activity: 42

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Quote from: twentyseventy on January 10, 2014, 10:36:16 AM

Quote from: Thumper650 on January 10, 2014, 09:55:55 AM

Quote from: twentyseventy on January 09, 2014, 09:30:56 PM

Well, IPO day has come and gone with about 20,000 shares sold. I'm doubting that the next six weeks are going to see an additional 30,000 sold to reach the self-imposed minimum limit of 50,000 to call the IPO a success.

It's a bit too early to call it a flop but I hope that, if/when this IPO fails, the company will realize the folly of its ways and come back with a less one-sided public offering.

Lol, if 20k shares have really been sold, and the d00d has any scratch/connections, he'll buy the remaining 30k himself. Profit.

The company/founders weren't willing to put up any capital before the IPO, why would they now? Also, if you buy 30,000 shares so that the company can acquire 20,000 shares, that's not a net gain.

You're forgetting that "the founders" will get both the coin spent on the 20k shares, and the coin they have "invested" by buying the 30k shares. Minus the Havelock fees, of course.
That's a net gain.

*Think of it like this:
1. If 50k pennies are in the pot, you win the pot.
2. Other players have anted up 20k pennies.
3. You add 30k pennies to the pot, and rake it in.
4. Profit. Since you won the pot, you get to take back the money you threw in. Minus the house edge (Havelock)

twentyseventy

legendary

Activity: 1386

Merit: 1000

Quote from: Thumper650 on January 10, 2014, 09:55:55 AM

Quote from: twentyseventy on January 09, 2014, 09:30:56 PM

Well, IPO day has come and gone with about 20,000 shares sold. I'm doubting that the next six weeks are going to see an additional 30,000 sold to reach the self-imposed minimum limit of 50,000 to call the IPO a success.

It's a bit too early to call it a flop but I hope that, if/when this IPO fails, the company will realize the folly of its ways and come back with a less one-sided public offering.

Lol, if 20k shares have really been sold, and the d00d has any scratch/connections, he'll buy the remaining 30k himself. Profit.

The company/founders weren't willing to put up any capital before the IPO, why would they now? Also, if you buy 30,000 shares so that the company can acquire 20,000 shares, that's not a net gain.

Thumper650

newbie

Activity: 42

Merit: 0

Quote from: twentyseventy on January 09, 2014, 09:30:56 PM

Well, IPO day has come and gone with about 20,000 shares sold. I'm doubting that the next six weeks are going to see an additional 30,000 sold to reach the self-imposed minimum limit of 50,000 to call the IPO a success.

It's a bit too early to call it a flop but I hope that, if/when this IPO fails, the company will realize the folly of its ways and come back with a less one-sided public offering.

Lol, if 20k shares have really been sold, and the d00d has any scratch/connections, he'll buy the remaining 30k himself. Profit.

zevtiefenbach

newbie

Activity: 59

Merit: 0

Quote from: twentyseventy on January 09, 2014, 09:30:56 PM

Well, IPO day has come and gone with about 20,000 shares sold. I'm doubting that the next six weeks are going to see an additional 30,000 sold to reach the self-imposed minimum limit of 50,000 to call the IPO a success.

i was wondering about that 6 week window too. the prospectus says that if they don't get the 50,000 shares sold in the 6 weeks they will return all BTC. does that mean that in the interim they won't be spending cash? that would really alter their expense (and revenue!) profile for January/February that they enclosed in the prospectus. is it possible that they will spend it anyway and not refund IPO investors?

anyway, i gotta say that anyway you slice it approximately $70,000 in gross sales for February doesn't seem too likely nor does $350,000 for March for that matter.

i think on top of everything else, the prospectus hasn't really been thought through and doesn't make sense.

i wonder if they'll answer me on these questions:

1) What are the current revenue/expense projections for January/February?
2) If you don't raise the full IPO amount, how will this change your spending projections?

twentyseventy

legendary

Activity: 1386

Merit: 1000

Well, IPO day has come and gone with about 20,000 shares sold. I'm doubting that the next six weeks are going to see an additional 30,000 sold to reach the self-imposed minimum limit of 50,000 to call the IPO a success.

It's a bit too early to call it a flop but I hope that, if/when this IPO fails, the company will realize the folly of its ways and come back with a less one-sided public offering.

zevtiefenbach

newbie

Activity: 59

Merit: 0

it would probably be prudent (and give you guys some credibility) if you took the feedback from this board, delayed your IPO and re-considered the terms of your prospectus. in the meantime, you could roll out a (revised) business plan, build some value in your project and gain a bit of practical experience running the company that you are proposing.

this would give any potential investor a lot more confidence in your product, your ability to deliver the service, and the projections that you have laid out.

doing this would really take advantage of what can be beautiful about these forums and this community which is the ability to foster feedback from a grassroots investor base.

going ahead with the IPO anyway would be a pretty clear indicator of the long-term viability of the project . . . and a clue to any potential investor . . . to stay clear!

malevolent

legendary

Activity: 3472

Merit: 1721

You're not the first to come with a similar idea and so far it doesn't seem like you are providing anything to justify the $2.5M valuation, I think you should reconsider your numbers.

Korbman

legendary

Activity: 1064

Merit: 1001

Quote from: MintSpare on January 07, 2014, 10:16:38 PM

[...]
Expenses will be reduced. Since all MintSpare expenses are being paid in US dollars, having the value of bitcoin rise would require less bitcoins to pay for expenses.
[...]

Following up to this statement, are initial expenses (salaries, rent, utilities, web/graphic design, etc) paid using investors' Bitcoins (converted to USD)?

Bobsurplus

legendary

Activity: 1008

Merit: 1000

Making money since I was in the womb! @emc2whale

Quote from: Vod on January 08, 2014, 02:07:11 PM

Didn't bother to read entire thread, because OP is investing 0% of funds, but taking 80% of assets. Roll Eyes

If you invest, just remember your $1 will instantly become $0.20

+1

Topic: [HAVELOCK] Mintspare (MS) Bitcoin Electronic Trade-in Service - Official Thread - page 11. (Read 35877 times)