Bitcoin Style Myfreecams
 

This is for the people who are into bitcoin, not for the haters.

Anyways, the idea is pretty simple, make a webcam site like MyFreeCams but use bitcoins instead of tokens. Deposits can happen instantly and Models can withdraw instantly. You can take a cut of each transaction. No middle man involved.

If you need funding to start it up, you can list your business on the GLBSE (Global Bitcoin Stock Exchange). You distribute shares and people buy them. You can then split your profits among your shareholders whenever you want with a click of a mouse. The GLBSE is very new and noone knows about it but I think it will be pretty big in the future. (if bitcoin keeps truckin anyways)

I know for a fact that there are companies on the GLBSE that are just in the business of investing into other companies on the GLBSE. Most of the companies on there now are shady and the ideas don't really catch my attention.

Here is the chart. http://charts.glbse.com/markets/
All stocks are traded in bitcoins, so if a share is at .1 per share its about a dollar.

I guess the only problem would be getting models interested in the idea. Of course it is a little niche now but it is dominated by males mostly and some of them have alot of bitcoins. (around 7 million of them out there.)

Anyways, just an idea. I don't have the knowledge or the patience to follow through with something like this. If you decide to do something like this, throw me a few shares or something. :)
Peace.
Mike
(waits for hateful replies):helpme

Why would it be hateful to say "if Mastercard represents 30% of transactions roughly... why they fuck is anyone going to try to target .0000000000001%"?

You thinking someone is going to make a living off of 1:10,000,000,000 conversions?

Just curious.

I'm not a bitcoin fanboy but I like your thinking anyway! Don't ever let haters sway you.

You can't bill in a currency that is super rare to the point of being almost non-existent and convert traffic. That is already a non starter. Furthermore, rates are in flux and you can't pay models, webmasters, ads/adwords etc based on a currency of highly fluid value and that is constantly moving up and down against their own native currencies. Particularly when its moving up and down all day long or when someone gets hacked, it completely tanks and loses a huge % of its "value".

Just because a guy dreams of flying to the next galaxy on his pony, doesn't mean he's a visionary.

I'd like to see you try and pay models in bitcoins and not real money.

why not offer it as an alternative to your existing payment method even if its very small tiny niche alternative for instance? it doesn't require million dollar investment for integration either. with a service like bit-pay.com offers it's possible to convert 'instantly' to USD so you won't even have a need to explain to models what is bitcoin and why you want to pay them with it.

Not sure I follow your posts really, I don't think its a crazy dream, and I'm pretty sure someone will do something like this eventually. Its far less work to pay for something with bitcoins than with credit cards. Just copy and paste an address and your done.

The only sensible way to do it would be to test it in this manner. Otherwise, its like saying "lets start a cam site that only offers Amex" or something only to find you can't convert traffic and have absolutely no idea what the size of the potential market is.

I would say based on experience that you can't pay webmasters, models etc in an unstable currency. If you've done business globally and had to deal with inflation and currency fluctuations between countries and currencies, you understand how quickly it can all turn upside down.

So how you going to payout the models/studio/affiliates and payout the company expenses. Is there already some bank that accept bit coins?

Sorry for there questions but my knowledge about bit coins is zero, read something about it (harvesting) but couldn't find anything about converting it into real bucks like transferring it to bank accounts.

It might be easy to ask people to pay with turtle shells. It might be convenient to pay in turtle shells (for everyone but the turtles). But if no one has turtle shells to pay with, its a moot point.

If their value is all over the place and can drop to zero at any given second, its a moot point.

You can't charge X.XX/min if you have no idea what the value of that is

You can't ask models to work for 30% of some yet to be determined value

You can't ask webmasters to send traffic to something thats not going to convert and when its clear you might easily not get paid should something go wrong with bitcoins

If you can't pay webmasters in 2 weeks because you don't know how much your cash on hand will be worth, its a moot point.

If you can't pay models in 2 weeks because you don't know either what the cash you have on hand is going to be worth or how its going to fluctuate against their currency, its a moot point.

Currencies moving against each other can wipe out a substantial amount of value in minutes.

You have to pay russians, czechs, columbians etc and bitcoins have to be stable against their currencies. Or you have to pay everyone in $ or Euro or some stable currency and deal with the continual problem of bitcoins rising/falling value against the dollar or Euro. They themselves aren't that stable right now.

and also, here's the thing about "haters". It should be a non issue for someone to point out problems, flaws obstacles etc. If it has to be dismissed as "hating" instead of addressed with a well thought out, well reasoned answer, then its either a bad idea or its an idea that needs better leadership.

You would just sell them right on an exchange. If you're in the US, ExchangeBitcoins.com will ACH the funds right into your bank account (i hear the same day sometimes). I also think bit-pay.com might do the ACH thing as well. There are a growing number of webmasters and designers that will accept bitcoins as payment. As far as models they could cash them out themselves or you could use a service like bit-pay or something and mail them a check. There are tons of options to get your money out of bitcoins, more pop up each day.

You can minimize risk of volatility of Bitcoin with two key ingredients:

1. automatically adjust and offer customer Bitcoin price based on current exchange rates of your preferred currency

2. convert Bitcoin payments instantly into your currency of choice.

Both points can be solved with some programming and or implementing existing solutions.


Also worth noting: Bitcoin offers very cost-effective solution to transfer funds from point A to point B unlike existing methods which are much slower and more costly. It becomes even more apparent when dealing with bitcoins where you transact almost instantly and almost for free (I say almost free as it is not always the case) and then after I convert bitcoins to USD, funds movement slows down significantly while at each turn chunk gets bitten off by various fee percentages.

yeah its true that for bitcoins to pay you just have to enter and address and boom youre done, but with credit cards you just have to put in a number and name and then boom there it is

not much of a difference

That makes is interesting, will do some investigation into this. If members can have a wallet and fill them with bit coins and there are ways to payout studios / performers and webmasters (in real cash) its definitely something worthwhile to investigate.

Are there already 18+ online companies using bit coins into their cashing/payout streams?

Here is what you don't seem to get:

http://www.activemanagersresource.co...f-a-bubble.png

You can't run a business based on that.

:2 cents:

I agree with alot of what you are saying, and the only thing that will make bitcoins stable is having more businesses using them. It will become more stable in time. Its important that the people involved have a basic understanding about how bitcoins work of course.

I'm not trying to be a leader, just throwing out ideas. My idea is MyFreeCams but with bitcoins. It will happen sooner or later you watch. Will it last who knows. :thumbsup

No I'd say the Adult industry is untapped when it comes to bitcoins. The gambling industry on the other hand is catching on fast.

No doubt that bitcoin had a bubble, but that was because of the huge media blitz that brought it into the mainstream. Its followed that chart almost exactly. As posted before though, with services like bit-pay where you can get into cash quickly, you are not subject to crazy market fluctuations.

Your ideas are good, it only requires some investigations and of course implementation.

Most studios and especially webcam models have no clue what a bitcoin is, they just wanna see money on the bank, but if it drives them more biz they will definitely go for it

the guy who invested in bit-pay.com and now one of running partners in that venture
also runs Stare magazine
https://gfy.com/showthread.php?t=1031318
http://www.staremagazine.com/
He got involved with bit-pay.com after getting bitcoin payment solution done on his site by them

also worth mentioning that there are many ways converting bitcoins to USD and other currencies. Existing large bitcoin exchanges utilize online wallet solutions such as Dwolla, Paxum, Liberty Reserve and some others that I don't remember atm.

Methods of acquiring bitcoin become easier, for instance one US based bitcoin exchange allow anyone to deposit cash through Chase and Wells Fargo branches anywhere in the US. - I'm a bit skeptical how long it can go on, but could also not find any reason how it could be shutdown easily. There are also Bitcoin ATMs being developed and smartphone solutions for people to be able to pay with bitcoins. All these news indicate that using bitcoins for average folk will become very easy with time.

hahhhahahahaha,

>>My idea is MyFreeCams but with bitcoins.

This is a natural match for many reasons.

What we ultimately need first however, as others have mentioned, is relative stability in the Bitcoin/USD exchange rate.

Only time will tell, but my thoughts are that Bitcoin will ultimately succeed in some form or another. Rather than seeing a brand new Cam site based on Bitcoin payment method take the field, I think we'll see one of the exiting Cam operations step up and begin offering Bitcoin as an option for Models/Affiliates/Studios.

Again, before this happens we must see the Bitcoin/USD exchange rate become relatively stable. We are getting there, slowly but surely.

I just don't see it, sorry.

.

fluctuations too unstable to base any real business around.

Dumb fucking post :1orglaugh:1orglaugh

Bitcoin is a failure.

http://s3.amazonaws.com/kym-assets/p...9IW1qawy1r.gif

how many people even know about bitcoin, let alone use it? 1% maybe 2-3% tops? why would you limit your market to such a degree?

People on GFY know about it them... as an annoyance. Virtual currency that doesn't exist. The only douche cunt making money off of these, and I mean real money is the guy that invented something from nothing. The rest of the people investing and mining them? Worker bee idiots.

Are you talking about the federal reserve?

"Herr Herr bitcoin is a failure!!!"

(goes back to epassporte thread)

"Where's my money!!"

Thats ok, you're just the type to jump on when its safe. The world needs Beta males too.

i would rather put my trust in gold and silver than these virtual currencies backed by nothing ... which oddly enough is just like fiat currencies. :2 cents:

There's actually someone with a bitcoin sex toy site that I found the other idea. I don't think this is a bad idea tbh. Just don't expect it to ever get huge. You could make nice money on it, though.

Well I guess the only thing backing it is pure math thats in the code.

I have gold and silver too, but its pretty useless when it comes to being a currency. It just sits in my dam cabinet and if I want to sell it its kind of a hassle.

bitcoins will never be an accepted form of currency

bitcoins dont have future

currencies should be backed up by something more solid than "code."

then you might as well use fiat currencies. backed up by the same "nothing"