|Google Auth||Authy||OTP Auth|
|Gyft||Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.|
|Spendabit, Overstock and The Bitcoin Directory||Retail shopping with millions of results|
|ShakePay||Generate one time use Visa cards in seconds|
|NewEgg and Dell||For all your electronics needs|
|Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more||Bill payment|
|Menufy, Takeaway and Thuisbezorgd NL||Takeout delivered to your door|
|Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats||For when you need to get away|
|Cryptostorm, Mullvad, and PIA||VPN services|
|Namecheap, Porkbun||Domain name registration|
|Stampnik||Discounted USPS Priority, Express, First-Class mail postage|
|WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project||Freelancing|
|Lolli||Earn bitcoin when you shop online!|
|OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market||Marketplaces|
|/GirlsGoneBitcoin NSFW||Adult services|
|Lightning Network||Second layer scaling|
|Blockstream, Rootstock and Drivechain||Sidechains|
|Hivemind and Augur||Prediction markets|
|Tierion and Factom||Records & Titles on the blockchain|
|BitMarkets, DropZone, Beaver and Open Bazaar||Decentralized markets|
|JoinMarket and Wasabi Wallet||CoinJoin implementation|
|Coinffeine and Bisq||Decentralized bitcoin exchanges|
|Keybase||Identity & Reputation management|
|Abra||Global P2P money transmitter network|
|bitcoin||BTC||1 bitcoin||one bitcoin is equal to 100 million satoshis|
|millibitcoin||mBTC||1,000 per bitcoin||used as default unit in recent Electrum wallet releases|
|bit||bit||1,000,000 per bitcoin||colloquial "slang" term for microbitcoin (μBTC)|
|satoshi||sat||100,000,000 per bitcoin||smallest unit in bitcoin, named after the inventor|
Can they overcome the product limitations of blockchain and deliver the world-class experience that consumers expect?submitted by mickhagen to genesisblockhq [link] [comments]
This is the second part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
While crypto allows the world to get rid of banks, a bank will still very much be necessary for this very powerful technology to reach the masses. As we laid out in our previous series, Crypto-Powered, we believe companies that build with blockchain at their core will have the best shot at winning the broader consumer finance market. We hope it will be us at Genesis Block, but we aren’t the only game in town.
So this series explores the entire crypto landscape and tries to answer the question, which crypto company is most likely to become the bank of the future?
In our last episode, we offered an in-depth analysis of big crypto exchanges like Coinbase & Binance. Today we’re analyzing non-custodial crypto wallets. These are products where only the user can touch or move funds. Not even the company or developer who built the application can access, control, or stop funds from being moved. These apps allow users to truly become their own bank.
We’ve talked a little about this before. This group of companies is nowhere near the same level of threat as the biggest crypto exchanges. However, this group really understands DeFi and the magic it can bring. This class of products is heavily engineer-driven and at the bleeding-edge of DeFi innovation. These products are certainly worth discussing. Okay, let’s dive in.
Users & AudienceThese non-custodial crypto wallets are especially popular among the most hardcore blockchain nerds and crypto cypherpunks.
“Not your keys, not your coins.”This meme is endlessly repeated among longtime crypto hodlers. If you’re not in complete control of your crypto (i.e. using non-custodial wallets), then it’s not really your crypto. There has always been a close connection between libertarianism & cryptocurrency. This type of user wants to be in absolute control of their money and become their own bank.
In addition to the experienced crypto geeks, for some people, these products will mean the difference between life and death. Imagine a refugee family that wants to safely protect their years of hard work — their life savings — as they travel across borders. Carrying cash could put their safety or money at risk. A few years ago I spent time in Greece at refugee camps — I know first-hand this is a real use-case.
Or imagine a family living under an authoritarian regime — afraid that their corrupt or oppressive government will seize their assets (or devalue their savings via hyperinflation). Citizens in these countries cannot risk putting their money in centralized banks or under their mattresses. They must become their own bank.
These are the common use-cases and users for non-custodial wallets.
Products in MarketLet’s do a quick round-up of some of the more popular products already in the market.
Web/Desktop The most popular web wallet is MetaMask. Though it doesn’t have any specific integration with DeFi protocols yet, it has more than a million users (which is a lot in crypto land!). Web wallets that are more deeply integrated with DeFi include InstaDapp, Zerion, DeFi Saver, Zapper, and MyCrypto (disclosure: I’m an investor and a big fan of Taylor). For the mass market, mobile will be a much more important form-factor. I don’t view these web products as much of a threat to Genesis Block.
Mobile The more serious threats to Genesis Block are the mobile products that (A) are leveraging some of the powerful DeFi protocols and (B) abstracting away a lot of the blockchain/DeFi UX complexity. While none get close to us on (B), the products attempting this are Argent and Dharma. To the extent they can, both are trying to make interacting with blockchain technology as simple as possible.
A few of the bigger exchanges have also entered this mobile non-custodial market. Coinbase has Wallet (via Cipher Browser acquisition). Binance has Trust Wallet (also via acquisition). And speaking of acquisitions, MyCrypto acquired Ambo, which is a solid product and has brought MyCrypto into the mobile space. Others worth mentioning include Rainbow — well-designed and built by a small indy-team with strong DeFi experience (former Balance team). And ZenGo which has a cool feature around keyless security (their CEO is a friend).
There are dozens of other mobile crypto wallets that do very little beyond showing your balances. They are not serious threats.
Hardware Wallets Holding crypto on your own hardware wallet is widely considered to be “best practice” from a security standpoint. The most popular hardware wallets are Ledger, Trezor, and KeepKey (by our friends at ShapeShift). Ledger Nano X is the only product that has Bluetooth — thus, the only one that can connect to a mobile app. While exciting and innovative, these hardware wallets are not yet integrated with any DeFi protocols.
StrengthsLet’s take a look at some of the strengths with non-custodial products.
WeaknessesNow let’s examine some of the weaknesses.
Wrap UpOne of the great powers of crypto is that we no longer depend on banks. Anyone can store their wealth and have absolute control of their money. That’s made possible with these non-custodial wallets. It’s a wonderful thing.
I believe that the most knowledgeable and experienced crypto people (including myself) will always be active users of these applications. And as mentioned in this post, there will certainly be circumstances where these apps will be essential & even life-saving.
However, I do not believe this category of product is a major threat to Genesis Block to becoming the bank of the future.They won’t win in the broader consumer finance market — mostly because I don’t believe that’s their target audience. These applications simply cannot produce the type of product experience that the masses require, want, or expect. The Weaknesses I’ve outlined above are just too overwhelming. The friction for mass-market consumers is just too much.
The winning bank will be focused on solving real user problems and meeting user needs. Not slowed down by rigid idealism like censorship-resistance and absolute decentralization, as it is with most non-custodial wallets. The winning bank will be a world-class product that’s smooth, performant, and accessible. Not sluggish and slow, as it is with most non-custodial wallets. The winning bank will be one where blockchain & crypto is mostly invisible to end-users. Not front-and-center as it is with non-custodial wallets. The winning bank will be one managed and run by professionals who know exactly what they’re doing. Not DIY (Do It Yourself), as it is with non-custodial wallets.
So are these non-custodial wallets a threat to Genesis Block in winning the broader consumer finance market, and becoming the bank of the future?
No. They are designed for a very different audience.
Other Ways to Consume Today's Episode:
Download the app. We're a digital bank that's powered by crypto: https://genesisblock.com/download
|As a maker, why should I sell my goods on your site instead of amazon? As a buyer, why should I buy from you instead of amazon/ebay?||Great questions - as a maker, our rates are lower than Amazon - flat 5% of the order. We also reach a core audience of people like you, which tends to mean you'll sell more on Tindie vs Amazon. As an example, one seller sold exclusively on Amazon, opened a Tindie store, and we began out selling Amazon. He closed his Amazon store and now sells exclusively on Tindie.|
|As a buyer, you are joining a community of likeminded people from all over the world and in different niches. Some like audio, some drones, others lighting. In the new year we are launching more features to build out the community side of the site. We are a community marketplace - community comes first. We can do a better job on the community side, and those features are currently being built.|
|As an example, one seller sold exclusively on Amazon, opened a Tindie store, and we began out selling Amazon. He closed his Amazon store and now sells exclusively on Tindie.||Amazon has a flat fee you must pay $40 a month When you sell out many times over, inventory management becomes a huge issue.|
|Many reasons but here are two- * * Amazon has a flat fee you must pay $40 a month.* Easier inventory management when you have to just make sure 1 site is right vs multiple. When you sell out many times over, inventory management becomes a huge issue. But, that's three reasons. How can you run a successful business if you can't even count?||Link to static.fjcdn.com|
|I have a desire to learn a programming language and have messed around with python and java on codeacademy. What would you recommend as the next step? Books? More beginner tutorials? Poking around on github?||Sounds like you are now at the crossroad where people either keep going, or 'never have the time.' When I started, I'd get the occasional comment online, 'You'll never figure it out.' It's a pretty accurate statement for most. Most don't figure it out. If you can put your head down and just grit it out, you'll get to the other side.|
|If you want to grit it out, start with Learn Python the Hard Way. Then figure out a project you want to build and go build it. You'll pick things up as you go. You'll think you have it about 10 times before you really have a solid understanding. There were many times I'd talk to my friends and say "Oh I figured it out." I was wrong 10 times :)|
|It took 1 year to get to n00b level. The next year is when things settle in. After 2 years, you'll have a solid foundation to keep honing your skills. You won't know everything, but you can hack together projects, & figure things out.|
|Also checkout Stackoverflow. Learning how to properly break down my problems into questions was a great exercise. It helped me understand what the real problem is vs what I thought it was.|
|Did you eventually start working as an engineer or was programming geared towards side projects and building Tindie?||I did - my first job after learning how to code was as a developer advocate. Not 'coding' but putting what I learned to good use. That company was acquired, and I eventually became a web engineer at the company which acquired us. That was my last job before starting Tindie.|
|My local hackerspace, a 501(c)3, is just getting started. We're thinking of making some products to generate some funding... would Tindie be the right marketplace for us?||Oh cool! Yep! We have members of hackspaces all over the globe on Tindie. Sounds like a perfect fit. If you have any questions, just pm me and we can help!|
|What sort of things did you do for market validation?||Good question - the only market validation I did was ask the question on /Arduino. There wasn't a marketplace for this type of hardware (we are still the only "big" site doing what we are doing). The space is emerging now.|
|Did you have personal experience with this type of thing, people you knew who needed something like this, or some other type of research?||You are right. The big question I got from investors is actually - 'How big is the market?' Unfortunately there isn't a good answer for that bc the market is growing / being defined now. Arduino/Raspberry Pi/Drones/3D printers are all just getting started and all growing like weeds. If those platforms become as big as we think they will, then a site like Tindie will have to emerge.|
|Also, how do you go about estimating market potential?||The one thing we look at is the components market is a massive, multibillion dollar market. The type of components that are on Tindie, generally speaking, first come to market on Tindie. The market potential is entirely untapped. However having orders from gov't agencies & large businesses is very reassuring that there is a much greater opportunity than just hobbyists (which is what most people thing on first glance).|
|What's been your biggest challenge as CEO of your own start-up?||Great questions -|
|What's the most frequent challenge you saw when working across various start-ups in the Valley?||Biggest Challenge as CEO - Communication, balancing expectations, keeping everyone on the same page from users, employees to investors. You'll constantly hear, "Did you see X?" when someone thinks it is a competitor. Chances are it isn't and they have their own idea of what the business is which is different than your own.|
|What words of wisdom do you have for someone wanting to create their own start-up?||Wisdom to start a startup - If it is a tech startup, one of your cofounders must be technical. Either yourself or your cofounder. If you can't build the first version/ a proof of concept yourself, start there. If you aren't technical, and don't know anyone technical, learn. In the valley you hear, "I'm looking for a techincal cofounder." so many times its crazy. You either already know someone (a good friend usually) or you don't. Trust me , you won't 'find' a techincal cofounder.|
|Thanks for your time (and sorry for all of the questions)||No worries - these were excellent questions. Keep 'em coming!|
|You'd be shocked how many random emails I get with businesses proposals. Are these the recreate facebook type of deals where you do all the work and they get to be the owner for giving you the idea of facebook?||It runs the gamut from sales, hiring, marketing, partnerships, you name it.|
|Did you have a good breakfast?||Eh, coffee, leftovers, and IRC. We have a channel on Freenode I hop in every morning to check in with users (Tindarians) and make sure everything is right with the world.|
|(hash)tindie on Freenode ftw|
|You've mentioned a few times how you shouldn't outsource development to a third party. Can you elaborate on this? Why not? What was your experience? What should you do instead if you're a n00b coder (like myself)?||Sure thing - if you hire a 3rd party, you will always have to pay someone else to iterate on the site. There is a 0% chance it will be right on the first shot. Therefore its really an invitation to spend a lot of money down the road - not just the upfront cost you are spending to get your idea made. This is what I did with Knowble - it cost something like $20k+. Please learn from my mistake :) You'll have to iterate, make changes, learn as you go. If you know how to code, then you can make those changes yourself. You'll do it in the morning/nights/weekends and it will only cost you your time.|
|What advice do you have for me as a student? Thank you, I think what you're doing is awesome!||Very cool! Getting press / outside attention is very difficult (if you don't pay for PR - we don't pay for PR). Write blog posts, like to those sites. The link love will go a long way (over time). Most of the companies that you read about on TechCrunch, PandoDaily, etc are paying for PR which is why they get listed on all of those blogs and have stories come out at the same time (embargoes). As a student, build something! Just keep building things. You have some free time - take full advantage of it. Also meet your peers. Build a network of other students in your class. Some will go to Google, Twitter, the next Google, the next Twitter. Increase your chances of doing well by meeting as many super smart people as you can. Build projects with them. Just make things and learn from experience.|
|I'm also a CS student and for the longest time I've been interested in Arduino. How did you get started tinkering and where would you recommend someone such as myself begin so as to eventually purchase from your website?||There are tons of beginner Arduino books. Arduino also has some great tutorials: Link to arduino.cc|
|In this age, if you have a CS background, Google is your friend :)|
|Did some more reading. I personally feel a lot of excitement for how well you're doing lol, congrats! What we're you doing before the 5 year run in the valley? How did you get started there?||Learn to do the things you don't know yourself.|
|NEVER outsource development to a 3rd party company.|
|Learn how to code.|
|If you don't know how to code, don't bring on another person that doesn't know how to code.|
|So what compelled you to go from NC to CA? How did you start getting acquainted with people there?||Joined Yelp. Yelp was maybe 40-50 people at that point. Flew myself for the interview, got the job, packed my car and hit the road.|
|As an aspiring entrepreneur myself, my question is this: what was the process like of getting the company from an idea to something you would be able to pitch to investors?||The site was already live, we had products, orders, traffic. The sales early on were ~doubling month over month. Sure they were small but that seems like a very good sign. As it kept growing, people around me connected me with other people interested in the space. The first investor I got was someone that was in my network already, but I didn't know him. He also invests in early stage companies, understands marketplaces, and believes in the changes we are seeing in the hardware space. From introductory call to email saying, "I'd like to invest" was about 12 - 18 hours.|
|How did you fund the project initially?||Spend time/money to get a VERY polished pitch deck.|
|How did you go about finding investors?||If an investor says "stay in touch, I'm interested" thats a No.|
|Did you have to refine or iterate your idea at all in the process?||We didn't have to iterate on the site, but I did iterate on the messaging/how I frame what we are doing depending upon the investor, and how that message was received by the last investor. I was constantly iterating what I said from pitch to pitch.|
|Would you feel that taking a year off to learn python was a worthwhile decision? With no coding background, can I learn it in a year?||Definitely - 100% worthwile. I had saved up enough to live for a year without a paycheck (without healthcare...not smart but I did it). If you are interested, go for it. While you still have a job start learning HTML, CSS, some basic things. Give yourself some sort of foundation before taking the plunge. After a year won't be able to get a job as an engineer, but it will definitely help in the long run. I have never regretted that decision.|
|Any recommendations on resources to learn HTML and CSS? I have some programming skills (C, assembly, VHDL) and found the code academy stuff to be too slow and had a hard time seeing how to really apply it.||Link to webdesign.tutsplus.com|
|I <3 Tuts / Envato.|
|How much did a year of free time cost you?||Rent was $710 a month, Food ~$200-300. Add in taxes & other spending. $20k ish.|
|There are many exciting developments in hobby-level electronics development. First things like Arduino, now affordable ARM processors. In addition to cheap accelerometers, laser cutting for enclosures, 3d printing, etc. What trends and fads are you seeing that are exciting to you? What kind of products do you think we will see in Tindie next year? Five years from now? Ten?||AirPi - Two 17yr olds in London built a shield for Raspberry Pi to turn it into a weather station. Brilliant, cheap product that I never saw coming and has done amazingly. They had to incorporate in the UK, take a loan from their parents, and just shipped hundreds of preorders they got on Tindie. The only thing I know for certain is we will have tens of thousands of hardware companies emerge over the next few years because it is becoming cheaper to prototype and easier to manufacture in lower volumes. Yes "hardware is hard" but it is getting easier and that only opens the door for more people to come in.|
|Tapster - a robot for manual app testing on mobile devices. EVERY mobile app developer in the world should have one bc of the time you'll save.|
|How did you come up with the name Tindie?||Indie Tech...Tech Indie... Tindie.|
|The domain was available. Best $7 I've spent.|
|Amazing site! Just found it. Question/Suggestion ... I'm looking for a site that will accept commissions for one-off projects based on boards like Arduino or Raspberry. Any chance you're site will offer such a market?||Thanks! Can you break down "will accept commissions?" Just want to make sure I fully understand what you are looking for.|
|Hi there. I have been looking into creating a website my self, and I was just curious as to how you build a user base for something like this? How did you get people to sell on Tindie when it first began?||Good question - you'll need to figure out where your initial users are and tell them what you are doing. Get people in your corner. As you build the site, give them updates, let them sign up before the site is live. If you don't have enough users on day 1, do more to drive more users to the site. Launch only when you have some amount of users (few hundred or maybe a few thousand is the best case scenario). You'll never be ready to launch but definitely give yourself some momentum before opening the doors.|
|I did this by keeping everyone on /Arduino in the loop. As I found a name, a domain, logo, I'd share those updates. Sellers were able to sign up and "stock the shelves" prior to launch which meant once I opened the site for transactions, we had ~20 sellers/ products on the site and orders on day 1.|
|Have you considered reaching out to the Bitcoin mining community? Their hardware seems to fit into your site.||We haven't but I'm 100% open to Bitcoin mining products on the site.|
|Have you considered accepting Bitcoin?||We haven't due to its volatility.|
|Who is your favorite ninja turtle?||Easy one - Michelangelo!|
|Do you plan on taking currencies like bitcoin, megacoin, etc?||Not right now. Bitcoin is too volatile. From talking with other marketplaces that implemented Bitcoin, the % of transactions that come through are very, very small. Most people seem to be holding Bitcoins as an investment strategy (the gold analogy). I think that is true. At this point, we can get a much bigger bang for our engineering buck by working on other features vs implementing/maintaing Bitcoin or a similar digital currency.|
|Why did you decide to go to the valley for this? For someone thinking of starting an e-shop startup, what would you advise?||I had been in SF for 4 years, then moved to Portland after the last company I was at was acquired. I moved back bc missed friends and our head of engineering is in Mountain View too. Made sense from a personal perspective.|
|Would I move to the valley if I didn't already have a connection to the area? I'm not sure. It is definitely cheaper to live somewhere else. However it is more difficult to get into the community from outside the area. If you live in the the valley, you'll constantly hear about startups/tech and meet people who are part of the scene. It's easier to be a part of the conversation if you are in the area.|
|I've heard from many of my friends in the industry that moving to SF is also a risk as many of the big companies pose a risk at hiring your engineers. Many of them end up moving their companies back to Canada where Engineers are much cheaper for the same quality.||Very true. It is very common for people to stay at a job for one year, vest 25% of your options, and leave for the next hot startup. It is valuable to have a presence in the valley - but not necessary for your team to all be there. I'm a huge fan of distributed businesses.|
|So what's your take on the interest level in hardware overall? Do you think things being sold on the site will continue to increase in complexity? Or will they be limited in scope and cost in the future because people are more interested in the low end of things?||Hey Chris! I think it will gain in complexity - esp as parts come down in price, and manufacturing lower quantities becomes more accessible. The opportunities only get magnified as those two trends accelerate.|
|I think we will always have low level / low end products, but the sky is the limit - in terms of price point and customers. We already have products that cost pennies to $1k+. We will begin to have more consumerish products - but I think those will fuel growth in hardware. The more interesting products emerge, the more interested people will jump into diy. Very cyclical. Arduino & Raspberry Pi just make that first step so much easier. Gateway hardware drugs.|
|This looks awesome, I'm surprised I've never heard of it. My question: how hard is it really to start your own business and what are some obstacles no one hears about?||It is difficult but not impossible. Things to plan for: taxes & attorney fees. You'll want to set up your business correctly if you plan on raising outside investment. If you don't do that right up front, you'll get bit when you fundraise. The legal fees we'll have for this financing round will be over $10k I bet (probably more)|
|Any suggestions on where to find and learn how to do this hardware stuff? Where did you learn to it? Was there any doubt while creating this project? Did you think about giving up?||Google is your best friend. There are books, tutorials, but just dive in. If you have some coding background just get started. Fortunately that is where I started so its more a process of picking something up and playing around (vs starting from 0).|
|Question: how much equity did you give up for the investment you've gained?||Thanks! A this point it is just closing and collecting checks so the final % will be set in a few weeks once we have a definitive amount closed with this round. However the answer you are looking for is 20%-25%.|
|I have a question. What stage was Tindie in when you pitched to the investors? (users/revenue) What was is about Tindie that made them decide to invest?||At this time last year, I forget where we were with users but we had $3600 in sales that month which would be about 100 orders. When talking to early stage investors, it is very much a gamble. The chance of failure much higher, but then again the opportunity is great. I haven't asked them point blank, but I think it ultimately boils down to they have an idea of how the world will work in the future, and you fit in that narrative.|
|I have a very refined idea for a web/mobile app start up. I have done months of research on the problem/solution I am building but I have no experience designing websites. Thus, I will need to pitch investors to fund development. What are any tips or resources to get in touch with potential investors?||Unfortunately you need to get it built. With out a product & traction, it will be very tough sailing|
|Do you accept Bitcoin and if not can we expect it in the future?||We don't right now and don't have any plans to in the future. Copying answer from another question "Bitcoin is too volatile. From talking with other marketplaces that implemented Bitcoin, the % of transactions that come through are very, very small. Most people seem to be holding Bitcoins as an investment strategy (the gold analogy). I think that is true. At this point, we can get a much bigger bang for our engineering buck by working on other features vs implementing/maintaing Bitcoin or a similar digital currency."|
|I'm an idea guy; I have new ideas everyday and am actually executing a few of them. My roadblock right now is getting it out there and selling it (to consumers, to investors). I have a new idea that, while the product is different than yours, could rope in every business sector. I've never built a business model; all of my stuff is from the idea point of view. I get an idea, find out if it's been done, and then make it work. What can I do to get the word out there and find investors? What kind of cut do you think is fair for investors?||Build it. Unfortunately "ideas are cheap." You have to build it before anything else.|
|We are a startup who has built it (4+ years of work). Its a business administration product. We are in desperate need of sales and marketing department. How do we approach investors?||If you are growing like a weed, they should be approaching you (at least some should). Based on the tone of your question, it sounds like that may not be the case?|
|As a maker who is currently in final stages of getting a product ready (ie 2nd round of PCB prototypes) any advice about how I go about getting it ready to sell on tindie? How do I determine a good initial batch size to order, handle shipping, refunds etc?||Good question - once you are ready, you can list it as a Fundraiser (our version of crowfunding which really is just accepting preorders). It has to hit the min # of units sold to 'live' where we bill the orders and you fulfill those ordered. That will give you a good idea of the initial demand. Shipping & handling you'll need to do a little testing on your end bc it depends where you are located & the shipping service you select. Refunds we can handle on our end. You'll just need to tell us which orders to refund. If you have any other questions, feel free to email us at support(at) tindie.com. More than happy to help!|
|How did you get in front of 50 investors? Thanks for the AMA I kind of see now what I need to do for my Start Up getting rejected 10 times shouldn't be a big deal I guess.||100% from networking. Friend introducing me to someone else, who says you should talk to X. That person sends the intro, and then schedule a meeting. Cold emails don't get you very far with the top investors who are constantly being bombarded with pitches.|
|This is very interesting. How is the actual pitching process? I mean, once you get introduced, do you pitch to them in a Shark Tank style? over coffee/lunch? And which aspects of Tindie was the biggest seller to the investors?||My background.|
|How did you come up with the idea.|
|What are you doing?|
|Some were more presentation style with a slideshow and just run through the deck where the investor most likely will interrupt you from time to time with questions on your points/assumptions.|
|0 were like Shark Tank.|
|I think the main thing we have going for us is our team -very strong with startup experience at well known companies/ great engineers. Next is our traction and position in the space.|
|Thanks for the answer! I thought you were a one man team before getting some funding. How did you get a team together when nothing was really proven?||Ah at that point it was just myself and I had built everything up until that point. The site was live, we had products, orders, early traction.|
|of all congrats on the success with your start up and initial funding. What is the number one thing you would say investors look for in a start up? What helped you achieve success while pitching your ideas?||Depends ultimately on the investor and if they are the lead or a follow on investor. The lead must believe in the space, have some idea of what is going, and therefore be passionate about the opportunity.|
|Follow on investors might know something about the space, might not. The one thing I didn't realize is how much they just "pile on." Most investors look for a signal by another big name investor, and if they are investing, looks good and they want in! The pile on mentality is alive and well.|
|So are you saying that funding is closed and you are not accepting any new investors?||Right - the round is closed. The docs are written. The lead investors have already wired their funds. Now just emailing the smaller investors, getting signatures and the wires for their commitments.|
|1.) What was the toughest question you were asked during pitches? 2.) Any questions worth mentioning a company should be able to answer that they don't think about?||2) I don't think there is any particular question - just think ahead of what they will ask you. Have your questions down cold. Answer & then shut up. Don't be afraid of silence.|
|3.) Our products are similar in the sense of the needed co-creation so I'm interested in your marketing strategy on both fronts. (finding sellers and finding buyers)||3) Sellers & Customers has been word of mouth. We haven't don't much on the direct marketing side, so I don't have very good advice on that.|
|4.) I'm sure not everyone has been full time with the company, so how did you manage a team of 5 part-timers and making sure deadlines were met, goals accomplished, etc.?||1) Market size. There isn't a good answer. You can come up with many different answers with many different data points but at the end of the day, no one knows 4) Everyone is full -time.|
|I'm trying to convince some friends of mine to get serious about taking an idea of there's to an angel to see if they (we) could get funding. So my question is, what did you need to take to investors in the form of demos/research/etc. to get them to take you seriously enough to give you your first (and subsequent) rounds of funding?||Build it first. If you get traction on the idea/project, investors will be interested. If it is just an idea, you'll have a very tough time. The only real answer - build it and they will come (if it is a great project and they see potential).|
|Makers / producers of open source hardware and products? What niche do you feel is currently not being addressed in the open source hardware arena?||I think any hardware product today should have an open equivalent. The opportunity is just sitting there for someone to build an open version of X. Open source if a flywheel. Once you get it started and there is a community to support it, it only becomes stronger and better. At the end of the day, I don't see much difference btwn producer vs educator. If you have an open project, part of your job will be education. Just start working on something. At the end of the day, if you want to produce it and sell it you can. If not, no harm/no foul.|
|Hi Thank you for doing this. My question is, how hard it is to work with VC/Angel people? Do they push you really hard?||Good question - some investors you won't get along with. You'll have different ideas/ look at the world differently/ it just isn't a fit. If that is the case, probably not a good fit as a major investor in your company. The can email you rather frequently - don't want to hate that part of your job...|
|I'd love to hear your thoughts on patents for DIY hardware! Let's say I've got a hardware design idea, but I know it's an evolution of existing technology. How do I go about researching conflicting patents that could prevent me from bringing my idea to market, what steps should I take to differentiate my idea from similar products, and at what point (if any) do I need to see an attorney?||I'm anti-patent. It is a huge time/money suck and ultimately hinders innovation. I'm not the best person to ask on researching your design/idea/ etc but I'd probably just go ahead build it and go for it. Any time you spend looking for conflicting patents, someone else will launch their version and get a leg up.|
|Plans for the international market?||Already international! We have customers in over 60 countries, sellers in over 40. I haven't looked lately but those were the numbers about a month or two ago.|
|Thank you for shipping to India!||\o/|
|Hello Tindie. I am just now incorporating as of January 1st (LLC) with friends in the tech industry for our first start-up. They are all NASA employees and MIT grads with extensive tech background, but my background is in Public Policy and Regulations development. Are there tools on your website for new start ups in the tech field, or could you offer any recommendations as to navigating pitfalls for someone without extensive tech background?||We can definitely do a better job on that end. Since you all have an engineering background, most likely the biggest problem will come in execution - sourcing manufacturers, parts, work abroad vs a domestic manufacturer. PM me and we can definitely help!|
|What has been your biggest regret starting Tindie?||No regrets so far. It's been a huge learning experience- esp this year. If I were still at my old job, I'd have been constantly wondering whether or not this could take off. Happy I took the plunge.|
|HAve you ever thought to add Music Tech to the site? I know a lot of people who are into buying and creating their own midi controllers/instruments. OR have I overlooked something?||We have it :) Link to www.tindie.com|
|How many register sellers and buyers do you have?||Sellers: Over 300.|
MiningCave is worldwide distributor offering after sales service, technical support and repair center in Cryptocurrency Mining Hardware. We sell the Best Product on the Market, ASIC and GPU Mining Hardware Bitcoin Miner, Litecoin Miner, Ethereum Miner and every new model on the market. We are based in Canada. There is USB Bitcoin mining hardware, which mines bitcoins. There are also Bitcoin hardware wallets like the Ledger Nano X, which store bitcoins. Both are USB type devices that have completely separate functions! Bitcoin USB Miners Comparison. Pic Miner Hash Power Price Buy; Sapphire Miner : 330 MH/s: $29.99: Buy: GekkoScience: 8 GH/s: $49.99: Buy: Avalon Nano 3: 3.6 GH/s: $19.99: Buy: Bitmain ... Bitcoin Mining verbraucht viel Strom. Bei hohen Stromkosten lohnt sich das Mining oftmals nicht. Um Bitcoin Mining zu betreiben, müssen Sie einem Miningpool beitreten, was zusätzliche Kosten verursacht. Für das Mining benötigen Sie entsprechende Hardware. Auch hier kommen Kosten auf Sie zu. Je nachdem, wie leistungsfähig Ihr Bitcoin Miner sein soll, zahlen Sie bis zu 2.000 Euro. Es ist ... Before talking about the Bitcoin mining hardware, let us understand the basic terminologies, which will help us understand the technicalities involving Bitcoin mining. Recently Samsung has announced that it is going to start designing chips for mining purposes. This information came out in one of the conferences in China, and this proves that competition is going to be tough. Hash Rate means ... Bitcoin Mining Hardware Guide The best Bitcoin mining hardware has evolved dramatically since 2009. At first, miners used their central processing unit (CPU) to mine, but soon this wasn't fast enough and it bogged down the system resources of the host computer. Miners quickly moved on to using the graphical processing unit (GPU) in computer graphics cards because they were able to hash data 50 ...
[index]          
DIY Bitcoin Mining: Hardware (part1) - Duration: 7:45. Fred Yen Recommended for you. 7:45. How to Repair a DEAD Computer - Duration: 37:05. CareyHolzman Recommended for you. 37:05. Comparison of ... Grüßt euch! In Teil 1 der 6teiligen How to build a Mining Rig Serie zeige ich euch, was ihr für Hardware benötigt und welche ich selbst gekauft habe. Alles W... Today, I'm gonna start building a PC out of cheap spare parts, to use for GPU coin mining. Enjoy :) Bitcoin ASIC MINER (Antiminer) Built in Home, DIY Project. When you want to built your won Bitcoin ASIC Miner, Then you need below Hardware. All hardware you can get in Alibaba.com But some ... Link to join https://btconline.io/927043 #Technicaltimran aziza bitcoin mining centre bitcoin mining cloud free bitcoin mining company bitcoin mining compute...