Topic: New Exchange - Need Funding (Read 1544 times)

Well you never answered my questions so I can only think this is a doomed failure of a startup.

Sure, I am selling my current business www.thailandairsoft.com to put capital into the project and my partner is putting his company profits into funding the project as well. He is also selling off one of his other business and currently negotiating the sale of it.

Thanks gweedo... Opinions do count and I appreciate you putting yours forth  

So, the investors bring the cash - what do you and your two partners bring to the table for getting half a million dollars in value of the company?  You want me to pay $30,000 for 5%, I want to know what they are giving up for 80%.

And don't say the idea.    

Sorry, thats a bad habit I have.  

The money is all being used to develop the system and marketing of the initial beta system.
I am talking to developers at the moment and getting some good feedback from them concerning people that I should speak with and so on. I am not interested in getting developer/s that are not on a salary as I have been down that road before and it increases development time substantially. So when I get the right group of people together, they can get paid and hopefully stay on as the project gets bigger...

My partner is actually chasing funding through his network of associates, however, I would prefer funding come from a tech community and/ or better yet, the bitcoin community.

EDIT: I develop in PHP and ASP.NET as well as being a Graphic Artist, but I dont have the technical skills required to put something like this together on my own.

LOL that you did  but you didn't answer the question.

What is the money going to be used for?
Who is going to program it?

As I have stated before, I have done this back around 2000 and the issues I had (and overcome) back then have disappeared with the inherent nature of Bitcoin.
Bitcoin as a project is something that I absolutely admire. I think there are flaws in the current wallets that should show cracks in their respective methods any time soon, as regulations start creeping in and setting standards of practice, which I am guessing, will follow in part to the way Credit Cards are regulated (its actually happened already). This can be avoided, with consequences that will effect the trust value of Bitcoin with the general public by keeping it underground and complicated. However, if a system is devised that takes into account the general public as far as trust and ease of use is established, then it maybe a way to fend of Credit Card type regulations, due to the lack of needing them.

I also think banks are doing quite a good job at setting ease of use standards with security, so people can transact online in relative security, after all, its still a users UN and PW thats being used and digital information that's being relayed, which is essentially what Bitcoin does. However, Bitcoin does do it much more securely.

There are also many gadgets available for storing Bitcoins, which are really not needed as most people do have the current hardware to securely store information, whether it be a family photo, a friends phone number or Bitcoins. I think those Bitcoin specific gadgets are great, however, I dont believe they will become mainstream. If you lose your phone, you simply log into a site, enter in details and have that phone shut down.

Also as many tech support people can testify, it is a massive headache trying to help people do simple things like turning off a laptop, which to this day, I still have to explain. So there has to be familiarity with what new users are substituting ie. money for Bitcoins and transacting with them. If users dont "get it" they may refuse to take it on board which would be a shame as Bitcoin has so much to offer.

The fantastic thing about this project I am working on is that most, if not all the technology is there, staring people in the face and buy putting certain parts together, can create a very good product for the consumer. Im still blown away by what some people are doing, such as the Listen to Bitcoin site and also the charts that are being put together. I would have never thought to put bubbles and sound to currency traveling through a network.

The other point that I touched upon in another post is using the peer system to lock down important areas that cant be touched, much like how torrents, Bitcoin and other networks would have a hard time getting shut down. Like Demonoid (and I miss them dearly) and Piratebay, they got shut down, but users moved to the next tier torrent site, and as much as they are not so good, torrents still continue to flow. Adoption of these principals can lead to more security with a peer run online wallet

Of course there is more and I hope to one day come here and announce a beta version of our system for testing and fingers crossed that you all appreciate the effort and thinking that went into it .

Thanks for letting me waffle on

Ok.  1200 bitcoins is worth approx $120,000USD.  What are the plans for that money?

There are currently 3 of us working on the project who take the other 80%

Those that have donated ... Thanks..

I wish it was as simple as building a platform and thats it... Unfortunately it isnt as there are many things you have left out that need to be running as well, to have any chance of being a success.

Your correct. However, I have done this before back 10 years ago using standard currency and was somewhat successful, considering I had to find solutions to every obstacle that the banks, gateways and Credit Card companies threw at me. Back then I was serving mainly the adult industry (small players), which was having a hard time trying to trade.

Im also selling my current business to come up with a lot of the funding we need and also enable this project to work full-time. Its a big gamble as my current business is my bread and butter... But as I have been through this entire process before, know what customers want and also know the situations that will occur, I strongly believe that without banks, gateways and especially credit card companies, who set down the rules of trade, that many obstacles are just not there, so will allow for a better system to emerge.

So your paper company with absolutely nothing more than the idea to build an exchange is valued at 1,200 / 20% = 6000 BTC or >$500K USD.

   Seems a lot of money this imagine what you could get in thailand for 1200 btc let alone who you could pay to build you a trading platform..    ..

So you are giving out 20% of the company for 1,200 bitcoins.

Who gets the other 80% of the company?

Most definitely.

This is my second venture in an exchange system, but this time I dont have to contend with all the restrictions imposed by banks, credit card companies and merchant gateways.

Have you considered all the legal elements involved?

Hi Guys/Gals

We are after some funding, so if you would like to donate something, even advice, we would be grateful.

If you want to donate Bitcoin, the address is 1BTAqNScqvnNe53kvrk7U1i5E64swqccr3

If you have some serious Bitcoins to invest, we are taking 4 only investors at 300 Bitcoins each who will be allotted 5% each of the company (Total 20%).

We are based in Thailand, my Partner is French and he is in Bangkok and I am Australian/Swedish, based in Jomtien.

I also run a website www.thailandairsoft.com which you can verify. My partner runs a lanyard site and we are using proceeds from those websites to continue our work on Rimbit.

If your interested in one of the 4 shares and would like to stay in Thailand while we put this together, I can set you up with a condo or house, to live in for 6 months, so we can whiteboard projects, long debated discussions and so forth. Visa requirement would need to be a 3 month tourist visa, which you can renew very easily. More than likely, we would do a border run to Laos or Cambodia.

Our website is www.rimbit.com and my contact number is there if you would like to talk to me direct.

Please note that the website went live a few days ago and has already come under some malicious attack and has been red flagged by Google as someone made a complaint... We have already spoken to our host who has gone through the site and found no issues and we then sent Google a report so the site is cleared. I posted about this incident yesterday in this forum.

PM me if you are interested or have some advice/suggestions  

Thanks