Topic: So you think you're going to start a Bitcoin business, right? - page 4. (Read 71747 times)
thanks MPOE-PR for your fucking post! It`s like someone droped a 100 BTC bag on my head
But the fact of the matter is when GS, MS, and JPM decide that BTC is the place to be they will blow most if not all of the current operators out of the water. Not because they are better, but because they have the resources and talent to throw hundreds of millions of dollars and tens of thousands of man hours at the same problems we are dealing with now.
Kinda like Kodak, a well established company with millions of dollars and tons of resources did to Nikon? Or Nokia did to HTC? Or Western Union did to Bell Labs? Or... Yeah, you know where I'm going with this
Man...just spent like 30 minutes at work reading all and there are some GEMS in this thread. Its like a BTC soap opra!
But anyway...I really think OP makes some valid points, as a lot of people mention the hostile tone of op's posts might make this untenable to some users but to that I say fuck them. If you don't want op's help or don't like his language...then stop reading. He's not forcing you to read his posts or agree with what he says.
The whole debate about WOT(irrespective of sooo many peoples inability to simply Google "WOT Bitcoin") is interesting. My 2 satoshi's on the issue seems to be that it is really useful for doing large scale transactions (ie the type that any successful business would inevitably find itself needing to make). Weather a successful business that is "involved" in BTC (a term I am using to avoid the discrepancy between a bit coin business and a business that uses bit coin) is on WOT is irrelevant. At some point a representative of that business will need to be on WOT and given the long term process of getting verified and gaining trust it makes sense to get on it early. Also given how simple it is to sign up...why wouldn't you? its not like it costs anything.
I'm going to ignore the whole MPEx debate. I'd guess I know as much about valuation as anyone on here, regardless of my lack of BTC knowledge and I can tell all of you that it is much more complicated than anything that has been or will be discussed on this forum. The models used to value the simplest of businesses are beyond the understanding of most people without an MBA or a BA in Finance and several years of experience. Profit and revenue, while parts of a valuation, do not constitute a valuation. Nor does market cap, if market cap worked their would be a great deal of the financial services industry out of business.
Finally this
I love and appreciate all the things that everyone who has been involved in BTC longer than I have done for this community and economy. Without them we would not be where we are today and BTC would have floundered in obscurity. But the fact of the matter is when GS, MS, and JPM decide that BTC is the place to be they will blow most if not all of the current operators out of the water. Not because they are better, but because they have the resources and talent to throw hundreds of millions of dollars and tens of thousands of man hours at the same problems we are dealing with now. The purse scale of what they will do will dwarf anything we have going. They lost fiat several times the size of the entire BTC economy multiple times over the last decade and shrugged it off like it was no thing. For those that find this situation unlikely see this article:
http://www.huffingtonpost.com/2013/05/31/bitcoin-venture-capital_n_3368035.html
and this is just the beginning, these are the small fish in the world finance pond. Wait till Blackstone, TPG, or Carlye decides this is interesting. Once the big guns come out I think WOT will become irrelevant pretty quickly. Not that I'm hoping or advancing this occurrence at all, just what I think will happen given what I have seen working in the industry.
let the hating continue!
edit: words n stuff
But anyway...I really think OP makes some valid points, as a lot of people mention the hostile tone of op's posts might make this untenable to some users but to that I say fuck them. If you don't want op's help or don't like his language...then stop reading. He's not forcing you to read his posts or agree with what he says.
The whole debate about WOT(irrespective of sooo many peoples inability to simply Google "WOT Bitcoin") is interesting. My 2 satoshi's on the issue seems to be that it is really useful for doing large scale transactions (ie the type that any successful business would inevitably find itself needing to make). Weather a successful business that is "involved" in BTC (a term I am using to avoid the discrepancy between a bit coin business and a business that uses bit coin) is on WOT is irrelevant. At some point a representative of that business will need to be on WOT and given the long term process of getting verified and gaining trust it makes sense to get on it early. Also given how simple it is to sign up...why wouldn't you? its not like it costs anything.
I'm going to ignore the whole MPEx debate. I'd guess I know as much about valuation as anyone on here, regardless of my lack of BTC knowledge and I can tell all of you that it is much more complicated than anything that has been or will be discussed on this forum. The models used to value the simplest of businesses are beyond the understanding of most people without an MBA or a BA in Finance and several years of experience. Profit and revenue, while parts of a valuation, do not constitute a valuation. Nor does market cap, if market cap worked their would be a great deal of the financial services industry out of business.
Finally this
when mainstream talent hits bitcoins, your cabal will be as significant as a pinky finger.
I love and appreciate all the things that everyone who has been involved in BTC longer than I have done for this community and economy. Without them we would not be where we are today and BTC would have floundered in obscurity. But the fact of the matter is when GS, MS, and JPM decide that BTC is the place to be they will blow most if not all of the current operators out of the water. Not because they are better, but because they have the resources and talent to throw hundreds of millions of dollars and tens of thousands of man hours at the same problems we are dealing with now. The purse scale of what they will do will dwarf anything we have going. They lost fiat several times the size of the entire BTC economy multiple times over the last decade and shrugged it off like it was no thing. For those that find this situation unlikely see this article:
http://www.huffingtonpost.com/2013/05/31/bitcoin-venture-capital_n_3368035.html
and this is just the beginning, these are the small fish in the world finance pond. Wait till Blackstone, TPG, or Carlye decides this is interesting. Once the big guns come out I think WOT will become irrelevant pretty quickly. Not that I'm hoping or advancing this occurrence at all, just what I think will happen given what I have seen working in the industry.
let the hating continue!
edit: words n stuff
very nice post. I don't have an bitcoin-otc account. Does it really matter?
anybody has any idea on increasing the number of jobs on my site http://bittask.com?
anybody has any idea on increasing the number of jobs on my site http://bittask.com?
i've only been using otc for a short time, but as far as i can tell its really only good for doing non-exchange transactions (that is bypassing mt.got, bitstamp and the like). for your business, i really don't see any advantages.
i like your website and the new name is an improvement
http://bitgigs.com/ is another popular one, but i prefer the way you list the prices right there next to the offer (very convenient).
the design is not as appealing to me, but the information is very clear.
that top categories "word mesh" or whatever its called is very bloggish and should be a simple table imho
obviously you're currently working with a limited data set, but additional filtering would be nice too
i made a note to check it out again later, after which i'll provide some more feedback
good luck!
very nice post. I don't have an bitcoin-otc account. Does it really matter?
anybody has any idea on increasing the number of jobs on my site http://bittask.com?
anybody has any idea on increasing the number of jobs on my site http://bittask.com?
Found this extremely helpful, making a web of trust account now.
Will definitely heed your advice when making future decisions.
Will definitely heed your advice when making future decisions.
Five years later, A is singing her first paid engagement (not quite an established Opera house, but certainly a start) and B is a juvenile delinquent. As far as A is concerned, obviously B never had a shot to begin with: didn't work his voice, didn't practice, didn't X Y Z. As far as B is concerned however, A just got a lucky break, possibly cause she's white. Or a girl. Or whatever else. B doesn't even know about the X Y Z.
Pure genius 
Uh no, that was actually a terrible analogy. Here's one of the current top-grossing rap artists at his finest:
http://www.youtube.com/watch?v=-WuagxNXDd4
And, let's just say opera is not exactly big business...
http://www.artsjournal.com/slippeddisc/2012/01/orchestra-agrees-80-pay-cut-to-keep-city-opera-alive-just.html
If you could boil out the sheer crassness you'd have some pretty good advice, as it is- I think it falls on deaf ears because it's just so terribly unpleasant to read.
That said, the center of bitcoin is shifting away from the forums, away from the historical members and most definitely away from things like WOT and OTC. Indeed WOT and OTC are useless when the community is millions of people. Not to mention the endless scams perpetuated by OTC users with good standing.
The truth is that most of what the older-timers say is going to fade into irrelevance pretty soon. Bitcoin now has podcasts and radio shows and TV commentators and blogs and major media outlets.The core of Bitcoin will be gone from this place soon enough and will move to reddit and where the heck else people go for up to date information.
So anyway, it's good advice but so long and thanks for all the fish.
That said, the center of bitcoin is shifting away from the forums, away from the historical members and most definitely away from things like WOT and OTC. Indeed WOT and OTC are useless when the community is millions of people. Not to mention the endless scams perpetuated by OTC users with good standing.
The truth is that most of what the older-timers say is going to fade into irrelevance pretty soon. Bitcoin now has podcasts and radio shows and TV commentators and blogs and major media outlets.The core of Bitcoin will be gone from this place soon enough and will move to reddit and where the heck else people go for up to date information.
So anyway, it's good advice but so long and thanks for all the fish.
This guy is such an emotional train wreck child stuck in his own little turdbubble of eliteness.
"You're all stupid except for me!"
MPEx is garbage and will be insolvent by Q4 2013 due to competing exchanges.
This is fun to watch!
"You're all stupid except for me!"
MPEx is garbage and will be insolvent by Q4 2013 due to competing exchanges.
This is fun to watch!
Quote from: mem
Im still reeling from what was just bought to my attention.
As the maintainer of one of the most trusted gambling lists it is my solemn advice to Never do business with MPEx/ MPO-ER unless you wish your own business to be branded a supporter of a hate group.
This idiot MPO-ER's behaviour shows he is at a guess 14 years old and to immature to handle any serious business discussion. Its no surprise that a deep seated racist has managed to co-opt this person into supporting his cause.
to be clear I have no strong feelings about OTC one way or the other but this person MPO-ER, the businss MPEx and all businesses associated with it are not to be trusted imho and do not deserve your business.
As the maintainer of one of the most trusted gambling lists it is my solemn advice to Never do business with MPEx/ MPO-ER unless you wish your own business to be branded a supporter of a hate group.
This idiot MPO-ER's behaviour shows he is at a guess 14 years old and to immature to handle any serious business discussion. Its no surprise that a deep seated racist has managed to co-opt this person into supporting his cause.
to be clear I have no strong feelings about OTC one way or the other but this person MPO-ER, the businss MPEx and all businesses associated with it are not to be trusted imho and do not deserve your business.
Are you.. okay?
Im still reeling from what was just bought to my attention.
As the maintainer of one of the most trusted gambling lists it is my solemn advice to Never do business with MPEx/ MPO-ER unless you wish your own business to be branded a supporter of a hate group.
This idiot MPO-ER's behaviour shows he is at a guess 14 years old and to immature to handle any serious business discussion. Its no surprise that a deep seated racist has managed to co-opt this person into supporting his cause.
to be clear I have no strong feelings about OTC one way or the other but this person MPO-ER, the businss MPEx and all businesses associated with it are not to be trusted imho and do not deserve your business.
As the maintainer of one of the most trusted gambling lists it is my solemn advice to Never do business with MPEx/ MPO-ER unless you wish your own business to be branded a supporter of a hate group.
This idiot MPO-ER's behaviour shows he is at a guess 14 years old and to immature to handle any serious business discussion. Its no surprise that a deep seated racist has managed to co-opt this person into supporting his cause.
to be clear I have no strong feelings about OTC one way or the other but this person MPO-ER, the businss MPEx and all businesses associated with it are not to be trusted imho and do not deserve your business.
Repeating something stupid does not make you right. It makes you stupid. Go read more, talk less, become less stupid.
And throwing a tantrum like a spoiled teenager and screaming that your are right does not make it so.
I stated a fact that you are unable to counter, throw all the e-tantrums you wish, all it does is lessen what little respect people already have for you.
Quote
I know you think you're good as you are, even though you don't manage to matter or do anything noteworthy because of this mistaken belief and to the detriment of your actual ability and potential. This squandering is a symptom of the stated stupidity.
If you could calm down and repeat that in english i would he happy to respond
Unfortunately you let your emotions rule your mind and I am having trouble deciphering your responses.Still I should expect no less from an a public supporter of a mentally unsound outspoken racist.
Absolutely a great lesson! Thanks for that, domnu'. I will freakin' bookmark this thread and put it in the middle of my Desktop!
Stefan (CJ)
Stefan (CJ)
WOT = Way Out There... newb
What's WOT and OTC?
If it's not clear, this was sarcastic 
Jesus Christ the peanut gallery got uppity in the meanwhile. I hadn't even noticed.
Repeating something stupid does not make you right. It makes you stupid. Go read more, talk less, become less stupid.
I know you think you're good as you are, even though you don't manage to matter or do anything noteworthy because of this mistaken belief and to the detriment of your actual ability and potential. This squandering is a symptom of the stated stupidity.
I believe your mother was a whore and she got knocked up by a drunk. Take your beliefs, stick them wherever they fit and get lost. When such enchanting excrement as them "beliefs" are required you'll be notified.
WoT aka Web of Trust is something described here and available via gribble the irc bot. You can also check out the dedicated website here.
OTC means "over the counter", which is roughly the opposite of "over an exchange". It's a common shorthand for a number of irc channels (chief among which is #bitcoin-assets) and their associated intangibles.
As I previously commented given that ~90% of bitcoins biggest scams were perpetuated thanks to #bitcoin-otc trust its a clear sign the service is useless.
Repeating something stupid does not make you right. It makes you stupid. Go read more, talk less, become less stupid.
I know you think you're good as you are, even though you don't manage to matter or do anything noteworthy because of this mistaken belief and to the detriment of your actual ability and potential. This squandering is a symptom of the stated stupidity.
I believe you're extremely rude posting this link on peoples threads whom are starting up.
I believe your mother was a whore and she got knocked up by a drunk. Take your beliefs, stick them wherever they fit and get lost. When such enchanting excrement as them "beliefs" are required you'll be notified.
What's WOT and OTC?
WoT aka Web of Trust is something described here and available via gribble the irc bot. You can also check out the dedicated website here.
OTC means "over the counter", which is roughly the opposite of "over an exchange". It's a common shorthand for a number of irc channels (chief among which is #bitcoin-assets) and their associated intangibles.
What's WOT and OTC?
Definitely a good read.
I believe you're extremely rude posting this link on peoples threads whom are starting up. Sure, some people go in a little less prepared than others, but that's their choice. I'm sure many people who have started up a BTC based business, only to receive your irrational 2 word reply, have ended up doing great. Some people are fast learners/adapters, and can induce their prior knowledge into stuff such as a Bitcoin business. They don't need your guide on how to do it.
I'm not sure if you're simply doing it for page views, or that you're genuinely worried about the individual. Either way, I believe you should 'back off' a bit and leave people alone.
If you wish to preach your advice, send the person a PM explaining where you believe they're going wrong and how to fix it. Leave their thread alone, because you're only unfairly making them look bad. I understand you like to be seen as a tough sort of guy, but is it really necessary?
Don't bother quoting me with one of your rude comments, because I most likely won't see it.
I'm not sure if you're simply doing it for page views, or that you're genuinely worried about the individual. Either way, I believe you should 'back off' a bit and leave people alone.
If you wish to preach your advice, send the person a PM explaining where you believe they're going wrong and how to fix it. Leave their thread alone, because you're only unfairly making them look bad. I understand you like to be seen as a tough sort of guy, but is it really necessary?
Don't bother quoting me with one of your rude comments, because I most likely won't see it.
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