Luke's 7k Post: A baller's bitcoin biz plan
- Thread starter lukep
- Start date
Probably about 450k offices to compete with WU globally.
The plan seems a bit starry-eyed to be honest, a couple of problems you could face...
1) Do you really think governments will just sit back and watch your Bitcoin Union shops send 100ks of dollars around the globe in a system that's considered to be one of the biggest black market currencies?
2) Do you really think you can stay profitable with probably every underground criminal in the country of your choice smelling the profits and going after you?
3) Dou you think you can convince those immigrants who are desperate for every cent to use the big new thing, a currency that's based on algos? Especially since most of them have probably never used a computer except for youporn.
4) Do you really think you can compete with 450k WU and 190k MG shops around the globe?
5) Did you ever consider facing cash-flow issues?
6) Did you consider your business model fucked due to circumstances you can't control related to bit coin?
7) Did you ever consider bit coins to be volatile?
8) Did you ever consider to not getting paid winning a 100k in a casino you paid using bit coins?
9) Did you ever consider bit coins being required to get some kind of license / money laundering protection system integrated?
and as a most important point:
did you ever consider WU/MG to compete with your Bitcoin Union if it turns out to be the next big thing...
btc convenient to pay with for legal goods, wut.
PS - just gonna leave this here. For anyone who thinks this isn't a bubble, you can listen to some btc analyst who spends atleast as much time on btc as luke does, but Forbes listens to him instead of a bunch of wffers. Upside is if he's right - still lots of money for the people holding to make.
http://www.forbes.com/sites/kashmir...n-will-go-over-1000-this-is-a-classic-bubble/
I can promise you that people do pay for things in Bitcoin. Price your stuff in USD, and convert price to Bitcoin in real-time upon checkout.
I have no idea, but at the moment, my guess is because most people view it as free money. Why pay with the hard earned money you made while hauling ass at your job, when you can just pay with the extra $200 you made in Bitcoin while you slept last night?
That's it, your dumbassery has finally earned you a place next to pewep on the ignore list. Not like you weren't warned.
No one would suggest such a dumb thing as hiding servers in a basement. There are two routes bitcoin banks have to go right now, and I believe we'll see both occur in the next year.
1. Some fools will step up and accept the regulation. Yes, state-watched, totally de-anonymized banks offering every service a fiat bank does, but with smaller fees and free 'wires' to anywhere... Plenty of statists won't have a problem with that.
2. Decentralized banks with no office, just like bitcoin itself. Shouldn't be too difficult, and they can probably be done without a separate blockchain nor dedicated miners! (The bitcoin protocol is very robust, it can carry several layers of transactions and account information over the top of each other. You can see some of this implemented in the mastercoin protocol. Eventually we will see most legal contracts move onto the blockchain as well, with a new online-only Law industry pop up around it too.)
In fact, it won't even take a bank to do half of what you're talking about with bitcoin. The next major update to the bitcoin protocol itself is aiming for christmas or thereabouts and includes a vendor Option to allow chargebacks and a built-in receipt system. Very cool upgrades for merchants. No one expects it to not get adopted.
Wow, that's pretty pathetic then... Because Bitcoin moved more money yesterday than all those offices combined did:
So far it's very likely that this is exactly what will happen: This Senate hearing is a Bitcoin lovefest
It's not like they'd be the only one in the country buying bitcoins... On localbitcoins.com you can see there are already people buying btc in these countries today... This would just be a contact (made in some other country) to sell to locally.
As I said, find their bosses and politicians. Scared of a little salesmanship?
I don't think this would merely compete with them... I think it would destroy them outright within a year or two, just because the nature of bitcoin is what it is.
Certainly a detail not to be overlooked. Will take good access to cash on both ends.
Please don't separate bit from coin... It's like hearing nails scratch a chalkboard!
Bitcoin is very predictable. It was coded that way, and can't be controlled by any 3rd party.
In a predictable way that 3rd party services like bitpay.com totally remove.
I don't even know what you're talking about here... The biz model in question is buying btc from families in poorer nations... No casinoes are involved.
Mentioned in OP and it looks very unlikely at this point.
How exactly are they going to compete with a system that has Zero fees and almost Zero overhead? Lol... Those dinosaurs are TOAST, and they already know it from the sound of their release last month.
Yes, but I store it in bitcoin.
Last night I sold some at $711 and bought it back early this morning at $500. MORE BITCOINS FOR ME BROS!
Gotta love these spikes!
See, this is what irritates me about you. You're a dilettante.
You completely misunderstood my point.
I don't think so. You made two statements:
I'm sure I answered this one in an obvious manner with my two scenarios.guerilla said:
For this one, I know just what you mean, & I know that you are correct when we're talking about all centrally-controlled currencies.guerilla said:
But this is really the crux of our difference on bitcoin. You keep trying to make me see something that I have fundamentally unseen. You keep trying to convince me that technology can't solve the underlying problem when I know that it can.
You're a smart guy, one of the smartest on this board; but you won't dive in deep into this amazingly large & complex subject and you keep basing your opinions/judgements on old-world knowledge without knowing the facts about what's possible now.
There are simply new options that did not exist before. Not just for blackmarketeers, either, but for the very nature of money. This is every bit as big of an adjustment to money as the internet was a change to IP.
I dont know, man. Did you just compare the thing that you believe replaces currency to the top 10 companies trading in currency of which each deals with a very specialized piece of the pie? and it only made 9th place?
at some point, you have to decide whether bitcoin is a business dealing in currency or a currency itself. it cant be both. and dont tell me its blockchain something. we are all programmers. except you. we know what programs can do.
you probably dont even realize how unbelievably stupid that was. of course the speculation in an asset that is VOLATILE AS FUCK is several fuckin orders of magnitude larger than the "real" trade volume. include the entire trade in usd on that table. its like 2 trillion a day.
i know more about these things than you could ever hope for and i didnt even try to educate myself about it. now im on your "ignore list". like i care. i care too much i guess.
True, you wouldn't even compete with them, but in a different way than you hoping for...
If it was predictable, why wouldn't you just focus on making millions trading them instead of messing around with this shops? Talking about BC being predictable is pathetic in my opinion.
How are you going to profit with a system that has zero fees and almost zero overhead?
Goodluck on storing your assets in the e-currency with a couple of 100 percent swings... not sure if serious.
Quoting this so that Lukep can read it.
Luke, you shouldn't block people just because they harm your fragile ego. That's totally closed minded.
I have exactly 0 people on my ignore list. I like to hear what everyone has to say, even if I don't agree with it. Luke if you're such a free thinker, you should take wayn3 off your ignore list.
1. Hoarding is profitable enough; I don't need to trade at all. (Last night I did for fun because it was so obvious what was happening.)
2. "This shops" are inevitable, and you sound like you own a WU franchise.
Test the facts then. Go back and read my bitcoin predictions here on WF from years ago. Was I wrong?
Um, exchange rates? Hurr...
100% swings? Orly?
Lurn moar about bitcoin before replying about it again on you'll wind up with wayn3.
It ain't ego. He keeps throwing out the most inane drivel that poses as serious questions but then turns out to be just sheer mind-numbing stupidity. The one you quoted for me is not much better. It was getting kind of painful to read his responses to bitcoin infact, an issue I warned him about in advance.
It's all about ego Luke. You don't like dissent in your threads.
Actually I think wayn3 made some pretty intelligent observations and asks good questions. He's telling you a lot of stuff you don't like to hear, which is why you put him on ignore.
I still think you should take him off ignore. Why are you so butthurt over him calling your bitcoin obsession a fetish?
Guerilla also is totally spot on with his commentary. Remember that time when you badly wanted Guerilla to like you?
I hope I don't get put on ignore myself for these comments. I genuinely do want you to be successful in your ventures. I just think you should focus more on building real businesses rather than throwing almost everything into bitcoin speculation.
Good point. Even implying it was enough to set Luke off. As far as Luke's ego is concerned, he's right and you're wrong. Luke doesn't want to listen to an opposing viewpoint, and that's not good for Luke's character development.
Luke, you need to overcome this character flaw. Don't let something this petty bother you. It suggests that you're insecure. You should take wayn3 off your ignore list and have a proper debate with him.
If that were so, why do I take the time to debate everyone? Including you?
Clearly I'm an argument addict. I don't even have the time to do this but I do it anyway to prove my point.
Nope, that's not it.
Oh, so that was intelligent observation, was it? That last chunk of wayn3 puke you quoted above for me to read?
Let's make a bet then. If I can't find & substantiate 3 completely wrong points in just those four lines you quoted, I'll take him off of ignore for good...
But if I can find 3 whole bad assumptions or incorrect assertions, in just that short block of text you provided me, and show you exactly why they are wrong and a waste of my time, then you have to drop it and never suggest I take someone off ignore again, ok?
Don't push your luck.
Guerilla gets a free pass because I don't know enough AnCaps. You have no such pass but get a bonus for being an expat in asia... But if you keep pushing it you can join wayn3 any time you'd like.
Again, you're right on this point, and I plan to do some more work on my biz right now. Spending this quality time with you here tonight while you defend wayn3 is currently the most pressing thing stopping exactly that.
Okay go for it. Find 3 bad assumptions. I'm sure it will make for a very lively thread.
You dont prove your point. the concept of proof is completely beneath you. Everytime someone has a legit argument you say "bahaha youre so stupid, you can go research that for yourself - im better than you because i know the blockchain and a couple similarly minded people who believe just as i do". every time someone says something you dont like, you go "lol dumbassery, i hereby threaten you with banhammer"