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BE AWARE! AN AVALANCHE OF STOCKBROKERS IS ABOUT TO HAPPEN! A NEW COMMISSION-FREE CRYPTO FUTURES MARKET IS ABOUT TO BE LAUNCHED, LET'S MEET DIGITEX





Crypto has been struggling to get accepted into formal financial markets recently, Bitcoin ETF proposals have been rejected by the SEC one after the other. The SEC argues that its main concerns are market price manipulation, security issues on the crypto exchanges, low liquidity and mall relative size of the crypto market.

While it might get some more time to develop more reliable tools on the crypto ecosystem and have SEC approves bitcoin ETF. It is well known that strong future markets help to stabilize volatile prices of many assets such as commodities. Futures markets have to be incentivized to grow further and bring more overall reliability to the crypto ecosystem.

Foreseeing this opportunity, a experimented pit-trader from the London International Financial & Options Exchange (LIFFE) has inspired a crafty team to create the perfect opportunity for crypto futures markets ultimate expansion an growth. They create a concept that will change the current paradigm of crypto futures market. They have created Digitex, the first commission-free futures exchange.


Why futures markets are such a big deal?


Futures markets are one of the most important tools for stabilizing volatile markets. Its relevance for the crypto ecosystem lies in three factors:


But despite its great benefits and low costs, futures market's fees are still too much of a burden for high volume, low profit, margin futures trading strategies. This situation hinders futures market liquidity and turns possible profitable strategies into losing ones after commissions are charged.

Digitex gamechanger commission-free scheme



Digitex will create an Ethereum based token, it will be called DGTX. It will be used to denominate all profits, losses, margin requirements and account balances. Therefore, any trader that wants to participate in the commission-free trading environment of Digitex should own DGTX, thus a great demand is expected from the traders willing to join this unique opportunity.

Having read this much a question yet remain unanswered, how is it possible for an exchange to operate without charging fees? How does it sustain itself?



At this point is when the genie came out of the lamp. Instead of charging fees on traders that bring liquidity to the futures market, Digitex revenue model imposes a small inflationary cost on all token holders that will be widely outweighed with the high demand that the DGTX token will have. Even better, Digitex Futures Exchange will leverage onto the trustless security system of the Ethereum Blockchain to guard account balances. An Ethereum smart contract will hold all account balances, Digitex will inform the Smart Contract about each trader outstanding margin liabilities and profit/losses balance.

In a nutshell, Digitex Futures Exchange will not hold any physical data about traders balance nor it will hold any private key from users. Thus, malicious actors have little to no incentives to attack the Digitex.

The icing on the cake. DGTX holders will be the ones who decide DGTX minting rates


DGTX token issuance will be democratically decided by the DGTX holders through a mechanism leveraged on the Blockchain, this will readily enforce a healthy DGTX token inflation rate, aligning the interest of the DGTX holders with the interest of the Digitex Futures Exchange.


Futures traders' commission-free Utopia, a dream that became true


By creating an ERC-223 token on the Ethereum Blockchain, and by using it as the native currency of the Digitex Futures Exchange, traders will be to enjoy more freedom than ever with a operating scheme that allows them to implement whatever trading strategy they desire without fees-related limitations.


This new high liquid market will attract many traders that must buy DGTX token to cover the margin requirements to open trades. Thus, the inflationary pressure will be more than matched with the high demand for DGTX tokens. Besides, the first two years there will be no issuance of DGTX tokens since all operative cost will be covered through the DGTX ICO. Skeptical traders will have more than plenty time to watch the performance of the Digitex Futures Exchange, but traders will have to keep in mind that the early bird gets the worm.

According to Digitex Futures Exchange projections, in early 2021 the first issuance of DGTX tokens will occur. Traders will vote to decide how many tokens will be minted to cover for software development, servers, staff, premises, marketing, support, and other related costs to keep the platform fully operational. They will do so through a Blockchain-based, Decentralized, Governance Mechanism that will allow DGTX holders to vote with a 1-DGTX/1-vote ratio.

If you have had enough and don't want to waste more time to join this project, go here and get early access. If not keep reading that it just gets better



DGTX token details


Since all profits and losses are denominated in DGTX tokens, each trader have to own enough DGTX to cover his potential losses because the tick value of each Digitex futures contract is one DGTX token.

The owner of DGTX tokens can engage in the buying and selling of liquid futures on the price of the Bitcoin against the USD, Ethereum against the USD, and Litecoin against the USD. Due to the commission-free framework of Digitex, the more active the trader is, the higher the intrinsic value of each DGTX token he has because he is saving the commissions than any other platform would have charged on him for doing the exact same trade.

Let's summarize the key aspects of the DGTX token



DGTX will be the native currency of Digitex The tick value of each Digitex futures is one DGTX
Traders' margin requirements will be covered with their DGTX Account balances are denominated in DGTX tokens
DGTX minting will cover for Digitex operational costs The initial supply will be 1 billion of DGTX tokens. The funds risen in the ICO will cover the costs of Digitex for the first 2 years of operation.
Integration with swap.tech ,0xproject, and bancor.com enables free tradeability of DGTX with BTC, ETH, and other major Cryptocurrencies Traders can eliminate DGTX price risk thanks to DGTX peg system.


Price risk is no longer a burden for traders thanks to DGTX peg system


Hedging is a basic strategy in stock markets to protect portfolios and reduce the negative effects that negative market movements may have on traders investments. Traders that hedge risk on their physical holdings of the underlying instrument (Bitcoin, Ethereum, or any other cryptocurrency) cannot tolerate DGTX token's price affecting their positions.


To protect traders from DGTX price volatility, Digitex Futures Exchange has futures contracts on the price of DGTX that allows traders to lock in their tokens and sell them at current market prices. This great tool allows traders to keep possession of their DGTX tokens to cover their margins and keep trading on the Digitex futures market. The downside of this strategy is that traders will not earn the profit if the DGTX rises because of the tokens being locked at a lower price.

As with any other future contract, the trader has to deposit a margin payment in the currency to which he is pegging the value of DGTX to cover his potential loses on the trade. Because the trader is protecting himself against DGTX price risk, another currency has to be employed to cover margin payments. ETH deposits are handled into an independent account balance smart contract and BTC deposits are converted into RSK and deposited into a separated Account Balance Smart Contract (RSK is a Turing complete sidechain of the bitcoin network).

DGTX token availability


If DGTX token will be the fuel of a high volume and very liquid futures market, it has to be readily available and as frictionless as possible. Some traders may be happy to hold DGTX for the long term, but most traders will buy DGTX tokens only when needed and convert them back to other cryptocurrencies as soon as their positions are closed.


To properly address this situation, Digitex Futures Exchange will integrate 0xproject into its platform. Besides, 20% of the proceeds from token sales will be used to create a liquid market of DGTX tokens to ensure that a enough offers can sustain the expected high bid levels.

Traders on the Digitex Futures Exchange are expected to buy DGTX at the start of each trading session, use the DGTX peg-system to lock in their sale price and convert them into the original cryptocurrency a few hours later when the trading session ends. This workflow will ensure a massive volume of DGTX traffic that will benefit greatly in the long term.

DGTX token supply and distribution



DGTX token issuance model and price projections


DGTX token creation events will occur via a fully auditable Smart Contract, a transparent review of DGTX token supply and event creations will be always available. Digitex team build price projections over these basic assumptions:
  • 2% of traders are whales who buy a total of $150,000 USD worth of DGTX tokens over a 2 year period.
  • 10% of traders are medium-sized traders who buy a total of $15,000 uSD worth od DGTX tokens over a 2 year period
  • 88% of traders are small traders who buy a total of $1,500 USD worth od DGTX tokens over a 2 year period
Quotation source: Digitex white paper page 7-8



Source: Digitex white paper page 8
This is an oversimplified model that doesn't take into account the overall trend in the crypto market. If the market turns bullish the rise in DGTX prices will be more than expected, but if the market is too bearish, the expectations may not be fulfilled even if the right number of traders is reached. Despite all that, the general trend can be depicted in this chart. Moreover, taking into account that BTC has lost more than 60% of his value in 2018, DGTX stands as the 3rd bigger gainer according to coinmarketcap. You can tell from the graph below that investors are excited about the approaching kickstart date.


Source: Coinmarketcap

DGTX token inflation projections


After January 2021, the next 12 months of the operational cost will be covered through the minting of new DGTX tokens. Here we can see a table with the expected effect of the inflation on the value of each DGTX token:


Source: Digitex white paper page 9
The worst case scenario guarantees that if only 1,000 new trader registers during the first 2 years and DGTX price remain stagnant, only 5% of inflation is required to maintain the operational costs for the next 12 months. The effect of 5% inflation over the 0.02% price is negligible. Also, if the best case scenario is met, only 2.3% of inflation will be required to sustain the platform and its effect on the project price will be only of 1 cent per DGTX token. If the project reaches this stage, securing 12 months of development and more marketing will attract thousands more of traders that will increase the demand for DGTX outweighing the inflationary cost of creating that demand. You can tell that their projections might have been too conservative, in September 2018 we got an announcement about their waitlist reaching 100K signups...no wonder why their CEO seems so happy.



Digitex hybrid trustless futures trade platform


Digitex have adopted a smart combination of the best features obtained with centralized matching engines and trustless, decentralized Smart Contracts to held account balances. In the wild future trading pits, each second matters, thus its mandatory to have a system with the smallest latency levels. Also, privacy is required to prevent frontrunners to exploit big orders. Many other desirable characteristics aren't yet available onto on-chain platforms and are only reached on centralized dedicated servers such as margin trading tools, scalability, and high privacy. Therefore, a hybrid model that covers current on-chain shortcomings and have none of the centralized ill-practicing is the smartest approach to leverage this new business model.

Digitex. The oracle for the account balance smart contract



Digitex acts as an Oracle that updates the decentralized Smart Contract that holds traders' account balances. When a trader requests a withdrawal of DGTX tokens, the Smart Contract requests an update to Digitex about the trader's profit and losses, as well as his current margin liabilities on his current matched and unmatched orders. Thus, the Smart Contract can update its available withdraw balance for that trader.

The potential attack vector from the communication of the exchange with the Smart Contract will be prevented by calculating from scratch traders' profit and loss from their matched trades whenever the smart contract asks for an update to a trader's account balance. Thus, a hacker who has somehow gained access to the exchange, will not be able to create the fake matched trades (which needs a counter-party and timestamps) and alter the account's balance of any trader.

How is this hybrid model more beneficial for traders activity


Digitex is unable to freeze or to seize any trader's fund for whatever reason. Pressure from outside authorities, KYC/AML regulators cannot enforce any legal action against the exchange since it actually can't reach trader's funds. Also, Digitex doesn't have access to the private keys of any trader, thus trader's funds cannot be accessed or mismanaged for the exchange.


Final Thoughts


Digitex benefits are of great significance for everyday traders, a commission-free platform will be a substantial improvement on the profit earned in many portfolios. Also, decentralized account balances and the centralized matching engine provides the best of the decentralized blockchain security and the centralized services reliability. The expected latency time for order matching is within the millisecond's scale, also, full privacy and no front-running is expected.

From the traders business perspective, Digitex single tick trading strategies are available for the first time within the crypto ecosystem, this parallel with the market makers will greatly boost market liquidity.

A Steemit blogger use case


From the starting date of the Steemit platform, some bloggers have earned $100K worth of crypto. They have been really excited about crypto for two years, and they think it is time to jump in the futures market. They search for traditional options like BitMEX, GDAX, CryptoFacilities, and some others, but they discourage themselves when they discover that the high volume low margin strategy they have been carefully studied for the last two years is unpracticable on the traditional platforms.

They are frustrated and return to read some posts on Steemit while scrolling the trending page they read about a new futures market platform on a post of the well-known @originalworks account, they read some of the best entries of the weekly contest and they can't stop the big smile that is printed on their faces. Right from the very same source of their first crypto assets, also they get the tool that will provide them the opportunity for testing all the knowledge gathered for the last 2 years. With Digitex they will enter the world of derivatives and start their venture as crypto traders.

Additional Information about the project


Here is Digitex Roadmap



Meet Digitex team



Watch the Digitex exchange on action with their CEO Adam Todd


https://youtu.be/qxqyspMiPGg

Are you excited with the project and want even more information? Visit their social media channels



Digitex Website
  • Digitex WhitePaper
  • Digitex Telegram
  • Digitex Reddit
  • Digitex Twitter
  • Digitex Blog
  • Digitex Youtube
  • Digitex Facebook




  • Hope you have enjoyed the reading. Keep in touch for more information about great crypto projects.
    Ethereum address: 0x0ebcB37223F07B1Bd0765E70f940046D504743a5 Steemit account: https://steemit.com/@joelsegovia

    submitted by joelsegovia to u/joelsegovia [link] [comments]

    An open letter to Condé Nast: Please stop stamping the reddit logo on assault rifles, and please stop the sale of assault rifles and other guns on reddit. [Repost due to brigade]

    Those that are regulars here know that reddit backs the sale of assault rifles, silencers, hollow point bullets, ultra-high capacity magazines (100-200 round drums) and explosives on reddit without supervision. In my last post, I took a snapshot of 100 gun transactions on reddit (about a week's worth) and found 29 sales related to assault rifles (as defined by the single characteristic test), 16 lbs of explosive powder (like the type used in the Boston Bombing), and thousands upon thousands of rounds of ammuntion exchanging hands, with many redditors preferring to conduct transactions "face-to-face" in order to bypass background checks.
    I make posts tallying and monitoring the transactions, then send invites directly to reddit's owners and admins to discuss it, and they decline. In the space of the last year, that negligence has turned reddit into the largest internet forum based arms trafficking market of high powered weaponry in the world.
    There are also a multitude of transactions in which assault rifles and other guns are sold by anarchists/libertarians using the anonymous bitcoin payment system. As stated, reports of arms trafficking on reddit have been met with absolute silence by site owners and admins, even though the site falls under California's strict gun control laws. Meanwhile, the volume of these transactions has increased tremendously even since the fall of last year.
    But it came as a surprise to me when I found out today that for over two years and running reddit also directly granted express written permission to stamp the reddit logo on assault rifles.
    Here are pictures of some of the reddit assault rifles:
    http://i.imgur.com/lvp3rh.jpg
    http://i.imgur.com/JnpWZ.jpg
    http://i.imgur.com/h1gPT.jpg
    http://i.imgur.com/Y4WuL.jpg
    http://i.imgur.com/Hshkzfc.jpg
    http://i.imgur.com/Wq68L.jpg
    http://i.imgur.com/vzyQQ.jpg
    http://i.imgur.com/HR9Ach.jpg
    http://i.imgur.com/SkjekT8.jpg
    http://i.imgur.com/ZCgJ5.jpg
    http://i.imgur.com/nqT97.jpg
    http://i.imgur.com/5pRsy.jpg
    http://i.imgur.com/xPPym.jpg
    http://i.imgur.com/6iAzVu9.jpg NEW
    http://i.imgur.com/wTqjyEw.jpg NEW
    http://i.imgur.com/B59uOwR.jpg NEW
    http://i.imgur.com/YPQch5v.jpg NEW
    I would be interested to know which brilliant legal mind authorized this. So far, 93 assault rifle receivers have been made bearing the reddit logo. The receiver is colloquially known as the "lower" and is the part of the assault rifle considered the actual firearm by the ATF.
    Building an assault rifle is likely easier than putting together a lot of Ikea furniture, and redditors do it because they can shave the cost of it to - $400-$600 - the cost of some handguns. In February of 2011, one redditor asked for, and received, permission from reddit admins to emblazen the logo on 39 assault rifles in the first batch received from a gun maker in Arizona called Double Diamond Law Enforcement Supply. But Double Diamond was slow to deliver on the order, and part way through the process demanded that the redditor receive permission from reddit in order to make the assault rifle receivers.
    At that point, extensive negotiations took place between one or two Double Diamond employees (Jon Beaudry and Stuart Seymour), one redditor (r1b4z01d), and Condé Nast. r1b4z01d complained that "Once we were all ready to pay they asked for permission to use the logo then I had to deal with convincing Condé Nast Digital to allow us to use the logo on the gun." Screencap Link. But apparently he was able to convince Condé Nast relatively easily, because he stated "I do have written permission from Conde Nast." Screenshot Link.
    That batch of assault rifles shipped to 39 redditors months later. The next batch of 21 assault rifles was organized in September of 2011 and shipped around January of 2012 (here's the link to the sign up thread. The third batch was organized by a redditor who founded a subreddit mere days after Sandy Hook to promote assault rifle and high capacity mag proliferation on reddit. Many of their fanatical gun owners form picket lines on reddit and comb the new queues and downvote and comment, send death threats, and stalk redditors daily for months.
    The larger concern is that redditors have killed themselves, and continue to kill themselves using guns. Reddit gun owners are largely comprised of young, rural, white males who are lonely and suffer from a combustible mix of depression and abuse of alcohol and other substances. None of them, including the young reddit admins, have exhibited an appreciable understanding of the science on either suicidal or homicidal impulse.
    But Harvard shows that where there are more guns there are more homicides and suicides.
    An extensive writeup on gun suicide can be found here. Impulse is the desire to commit suicide, and how that impulse is acted upon is what scientists describe as the means (e.g. using a gun). Guns allow redditors to act quickly on that impulse ('The Means Matter Theory'), and also prevent survival whereas other means are more difficult or time consuming. But if you survive for the duration of the impulse, 90% will not commit suicide again.
    A researcher from Harvard speculated that "[p]erhaps it is not the presence of firearms, per se, but something about rural life … a character trait (such as self-reliance and an inclination to “go it alone”) that may be associated both with firearm ownership and suicide and it is this trait, not the presence of the gun, that leads to the association.
    In other words, Harvard is saying the Tea Party/libertarian ideology is so toxic that it is killing the people who subscribe to it.
    Whatever the case may be, if that gun owner fits the criteria above and is also a veteran, the suicide rate is astronomical. Many of those purchasing assault rifles today are the hundreds of thousands of lonely and depressed young veterans returning from Iraq and Afghanistan, and finding commonality by talking about guns on reddit.
    This of course doesn't even begin to address firearm homicide or other crimes commited with guns. In other posts, I have directed reddit's attention to both the legal (it does not qualify for the protections that gun makers and gun stores receive) and moral obligations it owes (not participating in the killing of its users and protecting the general public from guns obtained on reddit, whether lawfully or unlawfully acquired).
    In response, the usual comments from fanatical gun owners note that some interstate transactions are shipped to Federal Firearm Licensees and that some undergo background checks. But redditors try to circumvent this by posting they want "face-to-face" transactions, and can easily arrange the transactions for themselves. They then cross a state line and conduct a private sale because the sellers are not checking state identification (of course, they will swear otherwise). In addition the background check issue is really a distraction from whether reddit should be in the business of trafficking guns at all.
    A one time background check does not predict whether a particular gun owner will participate in the 100,000 shootings each year over the next 60 years of his life.
    But as reddit found out when it made the front page of the Huffington Post, one assault rifle with the reddit logo has already been sold in a face to face transaction without a background check.
    At that time, neither reddit or Condé Nast came forward to clarify that they expressly endorsed the sale of assault rifles baring the reddit logo. Nor did they comment on Condé Nast's endorsement of the subreddit where hundreds of gun transactions are taking place each month, unmonitored and unsupervised by either Condé Nast or reddit. That's a shame. Because as Harvard research shows, more guns mean more homicides. And they certainly don't seem to care that they are participating in a secondary market where gun owners have shot 4.5 million people and managed to kill 1.34 million in only 45 years.
    But reddit and Condé Nast do present a shining example of America's thoughtless gun culture. It seems that as always, someone has to die by homicide, suicide, or accident before some thought is given to the secondary gun market on reddit and elsewhere. Myself and other concerned redditors report gun owner shootings every day in /gunsarecool, and don't want to see the reddit alien on a gun next to a pool of blood and an outstretched hand. Nor should reddit be in the business of selling a high volume of assault rifles, explosives, high capacity magazines, and tens of thousands of rounds of ammo.
    But unfortunately, reddit has literally given it's corporate stamp of approval on assault rifles and high capacity magazines in America.
    Sale 1:
    Screencap
    Reddit link
    [Full screencap of each sale thread is available]
    Sale 2:
    Screencap
    Reddit link
    Sale 3:
    Screencap
    Reddit link
    Big thanks to crack mods Gnome__Chompsky for pulling together pictures of the rifles and Im_gumby_damnit for digging for some information as well.
    For the record, here is the link to contact reddit's admins:
    http://www.reddit.com/feedback/
    Are your submissions not showing up? Subreddit marked as spam? Is the spam filter acting up? Send a private message to the admins.
    Clicking on "Send a private message to the admins" leads to this link: http://www.reddit.com/message/compose?to=%2Fr%2Freddit.com
    I went to that page, wrote the admins a message, and took this screencap of it:
    http://i.imgur.com/OQvDEAc.jpg
    Then I clicked the send button. Here is the message delivery confirmation.
    http://i.imgur.com/55vY6gT.jpg
    submitted by Townsley to GunsAreCool [link] [comments]

    An open letter to Condé Nast: Please stop stamping the reddit logo on assault rifles, and please stop the sale of assault rifles and other guns on reddit.

    Those that are regulars here know that Condé Nast backs the sale of assault rifles and explosives on reddit without supervision. In my last post, I took a snapshot of 100 gun transactions on reddit (about a week's worth) and found 29 sales related to assault rifles (as defined by the single characteristic test), 16 lbs of explosive powder (like the type used in the Boston Bombing), and thousands of rounds of ammuntion exchanging hands, with many redditors preferring to conduct transactions "face-to-face" without background checks. There are a multitude of transactions in which assault rifles and other guns are sold by anarchists/libertarians using the anonymous bitcoin payment system. We have frequently contacted the reddit admins about these claims, and have not received a word in reply. Meanwhile, the volume of these transactions has increased tremendously even since the fall of last year.
    But it came as a surprise to me when I found out today that for over two years and running Condé Nast also directly granted express written permission for its wholly owned subsidiary reddit (Condé Nast owns 100% of reddit stock and shed it into it's own corporation in 2008 - before all of this took place) to stamp the reddit logo on assault rifles.
    Here are pictures of some of the Condé Nast assault rifles:
    http://i.imgur.com/lvp3rh.jpg
    http://i.imgur.com/JnpWZ.jpg
    http://i.imgur.com/h1gPT.jpg
    http://i.imgur.com/Y4WuL.jpg
    http://i.imgur.com/Hshkzfc.jpg
    http://i.imgur.com/Wq68L.jpg
    http://i.imgur.com/vzyQQ.jpg
    http://i.imgur.com/HR9Ach.jpg
    http://i.imgur.com/SkjekT8.jpg
    http://i.imgur.com/ZCgJ5.jpg
    http://i.imgur.com/nqT97.jpg
    http://i.imgur.com/5pRsy.jpg
    http://i.imgur.com/xPPym.jpg
    http://i.imgur.com/6iAzVu9.jpg NEW
    http://i.imgur.com/wTqjyEw.jpg NEW
    http://i.imgur.com/B59uOwR.jpg NEW
    http://i.imgur.com/YPQch5v.jpg NEW
    I would be interested to know which brilliant legal mind at Condé Nast authorized this. So far, 93 assault rifle receivers have been made bearing the reddit logo. The receiver is colloquially known as the "lower" and is the part of the assault rifle considered the actual firearm by the ATF.
    Building an assault rifle is likely easier than putting together a lot of Ikea furniture, and redditors do it because they can shave the cost of it to - $400-$600 - the cost of some handguns. In February of 2011, one redditor asked for, and received permission, from reddit admins to emblazen the logo on 39 assault rifles in the first batch received from a gun maker in Arizona called Double Diamond Law Enforcement Supply. But Double Diamond was slow to deliver on the order, and part way through the process demanded that the redditor receive permission from Condé Nast in order to make the assault rifle receivers.
    At that point, extensive negotiations took place between one or two Double Diamond employees (Jon Beaudry and Stuart Seymour), one redditor (r1b4z01d), and Condé Nast. r1b4z01d complained that "Once we were all ready to pay they asked for permission to use the logo then I had to deal with convincing Condé Nast Digital to allow us to use the logo on the gun." Screencap Link. But apparently he was able to convince Condé Nast relatively easily, because he stated "I do have written permission from Conde Nast." Screenshot Link.
    That batch of assault rifles shipped to 39 redditors months later. The next batch of 21 assault rifles was organized in September of 2011 and shipped around January of 2012 (here's the link to the sign up thread. The third batch was organized by a redditor who founded a subreddit mere days after Sandy Hook to promote assault rifle and high capacity mag proliferation on reddit. Some of their fanatical gun owners form picket lines on reddit and comb the new queues and downvote and comment, send death threats, and stalk redditors daily for months.
    The larger concern is that redditors have killed themselves, and continue to kill themselves using guns. Reddit gun owners are largely comprised of young, rural, white, males who are lonely and suffer from a combustible mix of depression and abuse of alcohol and other substances. None of them, including the young reddit admins, have exhibited an appreciable understanding of the science on suicidal impulse. An extensive writeup on gun suicide can be found here. Impulse is the desire to commit suicide, and how that impulse is acted upon is what scientists describe as the means (e.g. using a gun). Guns allow redditors to act quickly on that impulse ('The Means Matter Theory'), and also prevent survival whereas other means are more difficult or time consuming. But if you survive for the duration of the impulse, 90% will not commit suicide again.
    A researcher from Harvard speculated that "[p]erhaps it is not the presence of firearms, per se, but something about rural life … a character trait (such as self-reliance and an inclination to “go it alone”) that may be associated both with firearm ownership and suicide and it is this trait, not the presence of the gun, that leads to the association. Whatever the case may be, if that gun owner fits the criteria above and is also a veteran, the suicide rate is astronomical. Suffice it to say, many of those purchasing assault rifles today are the hundreds of thousands of lonely and depressed young veterans returning from Iraq and Afghanistan, and finding commonality by talking about guns on reddit.
    This of course doesn't even begin to address firearm homicide or other crimes commited with guns. In other posts, I have directed reddit's attention to both the legal (it does not qualify for the protections that gun makers and gun stores receive) and moral obligations it owes (not participating in the killing of its users and protecting the general public from unlawfully sold guns obtained on reddit). In response, the usual comments from fanatical gun owners note that some interstate transactions are shipped to Federal Firearm Licensees and that some undergo background checks. But redditors can easily arrange the transactions for themselves, and cross a state line and conduct a private sale because the sellers are not checking state identification (of course, they will swear otherwise). In addition the background check issue is really a distraction from whether Condé Nast and reddit should be in the business of trafficking guns at all.
    But as reddit found out when it made the front page of the Huffington Post, one assault rifle with the reddit logo has already been sold in a face to face transaction without a background check.
    At that time, neither reddit or Condé Nast came forward to clarify that they expressly endorsed the sale of assault rifles baring the reddit logo. Nor did they comment on Condé Nast's endorsement of the subreddit where hundreds of gun transactions are taking place each month, unmonitored and unsupervised by either Condé Nast or reddit. That's a shame. Because as Harvard research shows, more guns mean more homicides. And they certainly don't seem to care that they are participating in a secondary market where 100,000 people are shot every year and more than 400,000 gun crimes are committed.
    But reddit and Condé Nast do present a shining example of America's thoughtless gun culture. It seems that as always, someone has to die by homicide, suicide, or accident before some thought is given to the secondary gun market on reddit and elsewhere. But myself and other concerned redditors report it every day in /gunsarecool, and don't want to see the reddit alien on a gun next to a pool of blood and an outstretched hand. Unfortunately, Condé Nast has literally given it's corporate stamp of approval on assault rifles and high capacity magazines in America.
    Sale 1:
    Screencap
    Reddit link
    [Full screencap of each sale thread is available]
    Sale 2:
    Screencap
    Reddit link
    Sale 3:
    Screencap
    Reddit link
    Big thanks to crack mods Gnome__Chompsky for pulling together pictures of the rifles and Im_gumby_damnit for digging for some information as well.
    submitted by Townsley to GunsAreCool [link] [comments]

    An open letter to Condé Nast: Please stop stamping the reddit logo on assault rifles, and please stop the sale of assault rifles and other guns on reddit. [Repost due to brigade]

    Those that are regulars here know that Condé Nast backs the sale of assault rifles and explosives on reddit without supervision. In my last post, I took a snapshot of 100 gun transactions on reddit (about a week's worth) and found 29 sales related to assault rifles (as defined by the single characteristic test), 16 lbs of explosive powder (like the type used in the Boston Bombing), and thousands of rounds of ammuntion exchanging hands, with many redditors preferring to conduct transactions "face-to-face" without background checks.
    There are a multitude of transactions in which assault rifles and other guns are sold by anarchists/libertarians using the anonymous bitcoin payment system. We have frequently contacted the reddit admins about these claims, and have not received a word in reply. Meanwhile, the volume of these transactions has increased tremendously even since the fall of last year.
    But it came as a surprise to me when I found out today that for over two years and running Condé Nast also directly granted express written permission for its wholly owned subsidiary reddit (Condé Nast owns 100% of reddit stock and shed it into it's own corporation in 2011 - before all of this took place) to stamp the reddit logo on assault rifles.
    Here are pictures of some of the Condé Nast assault rifles:
    http://i.imgur.com/lvp3rh.jpg
    http://i.imgur.com/JnpWZ.jpg
    http://i.imgur.com/h1gPT.jpg
    http://i.imgur.com/Y4WuL.jpg
    http://i.imgur.com/Hshkzfc.jpg
    http://i.imgur.com/Wq68L.jpg
    http://i.imgur.com/vzyQQ.jpg
    http://i.imgur.com/HR9Ach.jpg
    http://i.imgur.com/SkjekT8.jpg
    http://i.imgur.com/ZCgJ5.jpg
    http://i.imgur.com/nqT97.jpg
    http://i.imgur.com/5pRsy.jpg
    http://i.imgur.com/xPPym.jpg
    http://i.imgur.com/6iAzVu9.jpg NEW
    http://i.imgur.com/wTqjyEw.jpg NEW
    http://i.imgur.com/B59uOwR.jpg NEW
    http://i.imgur.com/YPQch5v.jpg NEW
    I would be interested to know which brilliant legal mind at Condé Nast authorized this. So far, 93 assault rifle receivers have been made bearing the reddit logo. The receiver is colloquially known as the "lower" and is the part of the assault rifle considered the actual firearm by the ATF.
    Building an assault rifle is likely easier than putting together a lot of Ikea furniture, and redditors do it because they can shave the cost of it to - $400-$600 - the cost of some handguns. In February of 2011, one redditor asked for, and received permission, from reddit admins to emblazen the logo on 39 assault rifles in the first batch received from a gun maker in Arizona called Double Diamond Law Enforcement Supply. But Double Diamond was slow to deliver on the order, and part way through the process demanded that the redditor receive permission from Condé Nast in order to make the assault rifle receivers.
    At that point, extensive negotiations took place between one or two Double Diamond employees (Jon Beaudry and Stuart Seymour), one redditor (r1b4z01d), and Condé Nast. r1b4z01d complained that "Once we were all ready to pay they asked for permission to use the logo then I had to deal with convincing Condé Nast Digital to allow us to use the logo on the gun." Screencap Link. But apparently he was able to convince Condé Nast relatively easily, because he stated "I do have written permission from Conde Nast." Screenshot Link.
    That batch of assault rifles shipped to 39 redditors months later. The next batch of 21 assault rifles was organized in September of 2011 and shipped around January of 2012 (here's the link to the sign up thread. The third batch was organized by a redditor who founded a subreddit mere days after Sandy Hook to promote assault rifle and high capacity mag proliferation on reddit. Some of their fanatical gun owners form picket lines on reddit and comb the new queues and downvote and comment, send death threats, and stalk redditors daily for months.
    The larger concern is that redditors have killed themselves, and continue to kill themselves using guns. Reddit gun owners are largely comprised of young, rural, white, males who are lonely and suffer from a combustible mix of depression and abuse of alcohol and other substances. None of them, including the young reddit admins, have exhibited an appreciable understanding of the science on suicidal impulse.
    An extensive writeup on gun suicide can be found here. Impulse is the desire to commit suicide, and how that impulse is acted upon is what scientists describe as the means (e.g. using a gun). Guns allow redditors to act quickly on that impulse ('The Means Matter Theory'), and also prevent survival whereas other means are more difficult or time consuming. But if you survive for the duration of the impulse, 90% will not commit suicide again.
    A researcher from Harvard speculated that "[p]erhaps it is not the presence of firearms, per se, but something about rural life … a character trait (such as self-reliance and an inclination to “go it alone”) that may be associated both with firearm ownership and suicide and it is this trait, not the presence of the gun, that leads to the association. Whatever the case may be, if that gun owner fits the criteria above and is also a veteran, the suicide rate is astronomical. Suffice it to say, many of those purchasing assault rifles today are the hundreds of thousands of lonely and depressed young veterans returning from Iraq and Afghanistan, and finding commonality by talking about guns on reddit.
    This of course doesn't even begin to address firearm homicide or other crimes commited with guns. In other posts, I have directed reddit's attention to both the legal (it does not qualify for the protections that gun makers and gun stores receive) and moral obligations it owes (not participating in the killing of its users and protecting the general public from unlawfully sold guns obtained on reddit).
    In response, the usual comments from fanatical gun owners note that some interstate transactions are shipped to Federal Firearm Licensees and that some undergo background checks. But redditors can easily arrange the transactions for themselves, and cross a state line and conduct a private sale because the sellers are not checking state identification (of course, they will swear otherwise). In addition the background check issue is really a distraction from whether Condé Nast and reddit should be in the business of trafficking guns at all.
    But as reddit found out when it made the front page of the Huffington Post, one assault rifle with the reddit logo has already been sold in a face to face transaction without a background check.
    At that time, neither reddit or Condé Nast came forward to clarify that they expressly endorsed the sale of assault rifles baring the reddit logo. Nor did they comment on Condé Nast's endorsement of the subreddit where hundreds of gun transactions are taking place each month, unmonitored and unsupervised by either Condé Nast or reddit. That's a shame. Because as Harvard research shows, more guns mean more homicides. And they certainly don't seem to care that they are participating in a secondary market where 100,000 people are shot every year and more than 400,000 gun crimes are committed.
    But reddit and Condé Nast do present a shining example of America's thoughtless gun culture. It seems that as always, someone has to die by homicide, suicide, or accident before some thought is given to the secondary gun market on reddit and elsewhere. But myself and other concerned redditors report it every day in /gunsarecool, and don't want to see the reddit alien on a gun next to a pool of blood and an outstretched hand. Unfortunately, Condé Nast has literally given it's corporate stamp of approval on assault rifles and high capacity magazines in America.
    Sale 1:
    Screencap
    Reddit link
    [Full screencap of each sale thread is available]
    Sale 2:
    Screencap
    Reddit link
    Sale 3:
    Screencap
    Reddit link
    Big thanks to crack mods Gnome__Chompsky for pulling together pictures of the rifles and Im_gumby_damnit for digging for some information as well.
    For the record, here is the link to contact reddit's admins:
    http://www.reddit.com/feedback/
    Are your submissions not showing up? Subreddit marked as spam? Is the spam filter acting up? Send a private message to the admins.
    Clicking on "Send a private message to the admins" leads to this link: http://www.reddit.com/message/compose?to=%2Fr%2Freddit.com
    I went to that page, wrote the admins a message, and took this screencap of it:
    http://i.imgur.com/OQvDEAc.jpg
    Then I clicked the send button. Here is the message delivery confirmation.
    http://i.imgur.com/55vY6gT.jpg
    submitted by Townsley to GunsAreCool [link] [comments]

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    [Table] IamA founder of Tindie, "Etsy for Tech". Started on /r/Arduino, team of 5, just finished fundraising (pitching 50+ investors), and have now closed $1m+ in funding. This is a follow up to last year's AMA, for anyone interested in startups/tech/Silicon Valley/open hardware. AMA!

    Verified? (This bot cannot verify AMAs just yet)
    Date: 2013-12-02
    Link to submission (Has self-text)
    Questions Answers
    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.
    Why now?
    What are you doing?
    Traction.
    Future plans.
    The team.
    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'm 19 and have no marketable skills beyond being the designated local tech geek. In terms of coding, I could mess around with the variables in JavaScript, but that's about it. Would I have any use in your organization? If not, what would you recommend the first thing I do to set down that path? Unfortunately not. Get more experienced & become a solid JS developer. Build projects, open the code, get feedback, critiqued by the JS community. You'll have a lot of value as a seasoned JS dev (esp as Node picks up traction)
    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.
    Last updated: 2013-12-06 11:10 UTC
    This post was generated by a robot! Send all complaints to epsy.
    submitted by tabledresser to tabled [link] [comments]

    [WTS] Bitcoin buttons?

    I have access to a button maker and 1000 empty buttons. Would anybody be interested in buying Bitcoin buttons? They would be good to hand out to raise awareness, or just to wear for fun.
    Prices are as follows (use mkt rate from Coinbase):
    min qty unit price 0 $3.00 2 $2.50 5 $2.00 25 $1.75 50 $1.50 100 $1.20 500 $0.67 1000 $0.50 
    Logos to use:
    We can obviously do other designs that you submit, or create one for you! The buttons are 2.25 inches in diameter.
    Some pics (since we've made a few Dogecoin buttons)!
    submitted by tekknolagi to BitMarket [link] [comments]

    HOW TO MAKE YOUR OWN CHARACTER LOGO IN PUBG MOBILE ... How To Draw Bitcoin Logo On AutoCAD [HD] How To Make Your Own Fortnite Clan Logo + PNG! *No ... Canva Tutorial: How to make a logo (for free) - YouTube How To Make Mascot Gaming Logo in PC - YouTube

    Check the text maker that will let you try different fonts for your company name. The vector logo (SVG file) you get will help you market the brand and gain the popularity your company deserves. You can make a bold modern logo on your own! # Inspiring logo ideas. Our logo generator is always ready to get you in the mood for the design. The great thing about colored icons is that the currency is easily recognizable and can be put into action right away. Crypto Icons by Rui Molar, where you can find fully scalable vector icons in three neat styles; Icons by Aervea who gives away the bundle of 100 circular icons; each is presented in five formats such as eps, svg, ai, png and sketch and three color choices Namecheap’s free logo maker is made with you, the entrepreneur, in mind. Whether you’re launching a new startup company, opening a restaurant, or getting your DJ business off the ground, our easy tool will give you everything you need to create instant brand recognition. Do you need a bitcoin logo for your business or ICO? Try the BrandCrowd bitcoin logo maker to create your own bitcoin logo, altcoin logo or cryptocurrency logo design. Just enter the name of your bitcoin business and our logo maker can generate bespoke logos just for you. Ready to start? Try it now! Make a coin logo in minutes using BrandCrowd's logo maker. Get hundreds of coin logo ideas that are perfect for accounting businesses, crypto trading sites, venture capital firms, banks and cryptocurrency startups. Ready to start? Try it now!

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