The Quest to Liberate $300,000 of Bitcoin From an Old Zip ...
Serious Warning Issued Over $300,000 Bitcoin Stock-To-Flow ...
Looking for .com domain LLLL or two words
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There are so many things I want to say about LoMoCoin/LoMoStar that I'm not sure if I'll be able to cover everything in one post.. Well, unless you want to read 20 pages.. Let's just see where this article takes us and go from there.. In order to understand why LoMoCoin is undervalued you must understand the market it's targeting.. In fact this is a difficult post to write because there is so much to cover, but I will do my best.. 'Incentivized shopping' is a big deal in Asia.. In China, if you wanted a coupon for Burger King you simply open WeChat, follow burger king and within seconds you have access to coupons. This has been so ingrained in society that nearly every reputable business now has a WeChat account. On top of that, many businesses offer VIP cards or VIP memberships which gives you additional deals on your future visits.. When it comes to offline shopping, the creative battle to get people in the door is becoming ever more prevalent. To see how LoMoCoin plays in the big picture we'll start with explaining the LoMoCoin (LMC) Blockchain and then we will follow up with the primary application, LoMoStar (the star of the show). In the end I hope those who read this can understand the scale of this project and don't under-estimate what we're dealing with here. In my opinion this asset has been undervalued for far too long and I believe its presence will be well known in the future. About LoMoCoin (LMC)
"The built-in LoMoCoin (LMC) of LoMoStar is similar to Bitcoin, which is a cryptocurrency with real value based on our own blockchain technology. Compared with traditional cryptocurrencies, LMC inherits the advantages of the related currencies which includes that the total amount is limited and cannot be over-issued."
LoMoCoin is it's own blockchain and the consensus mechanism is Proof of Stake (PoS). Instead of a fixed interest rate like most currencies, LMC uses the coin age as a means to take part in the consensus process. The LMC blockchain supports cold staking. Functions such as a single private key address and multi-sig address are supported. It is also mentioned in the whitepaper that smart contracts will be integrated in the near future. Now I know this stuff may sound like technical mumbo jumbo to you, but its important to know and well get to the more exciting stuff soon here.. In the meantime let's look at the LMC Blockchain. The LMC Blockchain The LoMoCoin (LMC) blockchain can be divided into 5 levels from a technical point of view.. (See whitepaper for full details.)
Data layer - The cryptography, Merkle Tree, and distributed ledger technology.
Network layer - LMC uses a p2p protocal, which is also the basis of the decentralization of the LMC blockchain.
Consensus layer - Proof of Stake (PoS) to reduce energy consumption.
Incentive layer - Calculating interest depending on number of tokens staked.
Application layer - The main application of the LMC application layer is LoMoStar. A number of applications based on smart contracts, such as virtual games and micro-asset-backed securitization (mini ABS), will also be introduced and encouraged.
So think of it like LoMoCoin is the decentralized framework for the LoMoStar ecosystem.. (LoMoCoin was rebranded to LoMoStar in v2.0) So now that we have covered the technical details of LoMoCoin (LMC) let's take a look at the LoMoStar app.. What is LoMoStar? LoMoStar is the main primary application built on the LMC blockchain (available on Android and iOS). When your talking about LoMoStar it's more then just getting discounts at local shops and collecting crypto on a map.. LoMoStar is a vast social ecosystem that evolves around people-to-people, people-to-asset, and people-to-organization (and vice versa). The vision set forward by the CEO 'Xiong Lijian' has been overlooked by nearly every investor.. (I say nearly because there's only a handful of people who actually research with an optimistic outlook on blockchain technology long term..) So before I begin, I would like to applaud the CEO Xiong Lijian for taking on a massive project which I believe will turn many people's dreams into a reality. LoMoStar - Social Events Platform with Cryptocurrency
"LoMoStar will integrate ones geographical position with its virtual environment and will use cryptocurrencies as its social medium to introduce new forms of relationships with one another. Also, by allowing for global (group) interactions, LoMoStar will facilitate international social relationships. In addition, people can develop business relationships at LoMoStar to enhance the influence of individuals, increase brand awareness, and/or improve business development."
For example, in the LoMoStar app, I can geographically drop a red envelope that contains any cryptocurrency. Before I drop red envelopes I could include an image and a short message. Anyone who opens this red envelope will be rewarded with cryptocurrency and will automatically join my group. (You can quit a group after 48 hours). Red Envelopes
"Airdrops of red envelopes, which contain cryptocurrencies, can be organized at certain geographical locations that have a sufficient density of users, for instance cities or popular public locations. Additionally, automated trading between users and investment opportunities will become available and people can use LoMoStar to perform many social related activities, such as marketing activities, group-related activities, organizing events, participating in treasure hunts, digital investments, and more. All these features enable LoMoStar to become a unique social and economic platform. The establishment of these social relationships and global interactions can fulfill both individual, group and corporate interests and desires, forming a win-win or multi-win situation."
For example, let's say there is a sporting event like the Super Bowl where a large gathering of people will attend. A corporation could Airdrop red envelopes specifically to this geographical location for sports fans to pick up. Or let's say a local festival wants more attendance they can arrange an airdrop at the festivals location. You can pretty much target any area that contains a sufficient density of users.
Users can add personalized design elements to red envelopes to target the specific interests of the group.
Users can select any supported cryptocurrency to send/drop using red envelopes.
Users can grow their fan base and enhance their influence by continuously launching new and exciting red envelopes.
Offer special discounts and promotions that can only be found through red envelopes.
Airdrop red envelopes in a geographical location of high density.
Take part in a hidden treasure hunt looking for red envelopes.
Users will use their own ingenuity to create new forms of social entertainment. (As outlined below in the whitepaper)
A birthday party invitation can be airdropped to a doorstep.
A welcome gift could be left at the airport for an out-of-town visitor.
A breadcrumb trail of red envelopes can be left along the Great Wall of China for people to follow.
You can mark all your favorite restaurants geographically with a red envelope.
Whole networks of virtual relationships can be called into real-world action.
By specifying areas, people, functionality and other conditions, users can invest various new and interesting ways to develop social relationships with one another.
Peer-to-peer Cryptocurrency Trading
" LoMoStar supports using any cryptocurrency to conduct trading, whether it is for physical goods, services or digital assets. LoMoStars underlying technology will therefore enable peer-to-peer trading with one another."
The plan is to support any cryptocurrency to exchange for physical goods, services or digital assets. (LoMoStar hand selects and reviews each supported coin.) In addition LoMoStar allows messaging between users and groups with the ability to send/drop red envelopes. Digital assets based on Location-based System (LBS)
"Through LoMoStar, people can also invest in many real-world businesses on certain geographical locations, such as retail, real estate, attractions, and more. LoMoStar will allow users to utilize cryptocurrency for investing in retail, real estate, attractions and other various immovable properties in order to gain profits."
This is a very ambitious vision and I like it... The thought of being able to invest in real-world businesses and assets using crypto is music to my ears. Let's look into this a little more and highlight some things from the whitepaper..
"By connecting users to each other in the virtual world and then to assets in the real world, LoMoStar creates a novel setting where unpredictable social and economic relationships can spontaneously flourish within user-created scenarios. This will promote the use of cryptocurrencies in the real world and allow completely new ecological models and scenarios to emerge."
Here is an example noted from the white paper.
"Taking the vending machines as an example, which is one of the most common automatic trading devices, the holder can divide the income rights of a predetermined period and then launch the installation address of the device on the LoMoStar map. The (1) the product service description, (2) investment price of the income rights after division, (3) income distribution overview, and (4) other related information will then also be given. There are other types of devices that work similarly as a vending machine (e.g. self- service photo machine, self-service massage chair, and/or a doll machine) that can be used as a similar example. If LoMoStar users are interested, they can use cryptocurrency to invest and purchase the rights of these devices on the virtual map and thereby allow the possibility to generate an income from their (virtual) investments."
So now you can see, LoMoStar is not 'Just a game where you pick up cryptocurrency on a map'. LoMoStar aims to promote the use of cryptocurrency in the real world by acting as a bridge connecting the two worlds - ultimately revealing the true value of cryptocurrency. Functional Level of LoMoStar
Payment transaction function - Users can make use of various cryptocurrencies in order to invest in assets.
Red envelope function of cryptocurrency - One of the most important functions of the application. Red envelopes with cryptocurrencies creates a new social landscape to be explored.
LBS Geographic location components - A lot of LoMoStar is based on one's location. Scenarios such as regional red envelopes and location based advertising can be made available.
Cryptocurrency wallet - Because most interactions involve cryptocurrency, the use of a wallet is necessary.
Group function - Group holder can invite others to join their group. Users can then drop red envelopes and communicate in this group.
Cryptocurrency marketing - Businesses can make use of red envelopes with cryptocurrency inside of them as a new way to promote their brands and increase sales.
More functions in development.
"LoMoStar will also allow ICO's to integrate new blockchain projects. Only cryptocurrencies and projects with high investment value will be made available to our users."
Construction of the LoMoStar ecology.
Completed : The foundation has been laid by connecting the global cryptocurrency framework.
Expand the financing of blockchain enterprises with mainstream participation.
Integrate the boundary between the real world and the virtual world using the O2O marketing model. (Offline-to-Online marketing)
Expansion of Smart Contracts.
Integration with the Internet of Things. (IoT)
Integration of "Big Data".
"LoMoStar aims to integrate the physical world and the virtual world through the blockchain. The physical world lacks channels for democracy while the virtual blockchain world lacks social innovation. The goal is to bring these two worlds together."
The LoMoStar Team When we look at the team, it is truly an impressive force that delivers results. Building a new social ecosystem requires engineers in all fronts. From developing blockchain technology to F5 Lab to the LoMoStar app for android and ios. Let's also not forget xStar.io the Digital Assets Exchange aimed to strengthen the LoMoStar ecosystem. The team is building all the essential components needed to improve asset liquidity and long-term asset stability.. the bottom line here is.. the team is quite large and well organized. Last year in an interview with the LoMoStar CEO Xiong Lijian, he mentioned they had more than 30 people on the team.
"LoMoCoin’s core team has been working together since 2013 and has experienced the mining and trading of Bitcoin and Litecoin in the early days. We are also one of the first teams in China that begun R&D application and development of blockchain technology. At present, there are more than 30 people in our team and we have started to recruit talents all around the globe with the ability to settle in various countries and regions to jointly promote and help develop LoMoCoin."
Today they now have over 70 employees (so I hear) and are expecting to exceed 100 employees in the near future. Now since we are looking at the team, let's take a look at a few questions and answers from some interviews. (Interview links are posted in references.) Interview Q&A from Xiong Lijian (CEO) / Taoji Zou (Chief Marketing Officer) What kind of advantages will LMC have within the application in comparison to BTC/ETH/LTC, etc.? This is still unclear.
This can, for instance, be when ICO projects are promoted and only LMC holders will be able to participate. More than 10 projects have recently already discovered the value of LoMoStar and hope to promote and even accept LMC as an investment. We choose projects very selectively and they are still under review.
Can you tell us how XStar will help with the growth of LMC?
XStar is a trading platform that I and some other friends in the Chinese community have set up, not only to provide liquidity to LMC, but also because we are optimistic about the future of the blockchain industry. LoMoStar and XStar will be mutually reinforcing each other. Moreover, XStar is a trading platform that will provide a different and larger trading experience, which is not exactly the same as that of LoMoStar. This is what we have discovered in the Chinese market. Also, from a perspective of marketing theory, different needs of user groups can be mutually relocated. Therefore, LoMoStar and XStar may adopt different approaches and strategies when they are promoted in various countries. In any case, if LoMoStar first enters a country, it can help XStar; if XStar first enters a country, likewise, it can in turn help LoMoStar.
Do you think your marketing budget is enough to cover all your future plans (e.g. exchange costs, hiring foreign specialists etc.)?
Our company has a healthy financial position and we are fairly certain that it is enough to support our marketing efforts. We will also use our budget to participate in conferences and events all around the globe.
Are you going to integrate Augmented Reality (AR) features? And if so, does the current app functionality allow for it?
We have a well connected partner that we have a good relationship with, as their founder used to develop mining machines with our CEO. This enterprise is experienced in developing chips and advanced AR techniques. In the future, sooner or later, AR will be adopted in any location-based system (LBS) application. Inside our firm we are always talking about AR and we believe that when the AR techniques and implementation possibilities get improved we will certainly adopt it in LoMoStar.
How will you protect LoMoCoin (LMC) investors and increase the interest of using LMC inside of the app, since you have also added other currencies such as Ethereum and Bitcoin?
A key feature of a currency is security and liquidity, which will also affect LMC. We will add more digital currencies in the future. Global users and transaction volume will be increased this way. Additionally, when you run a club and have a lot of guests invited. There will be social demand for every guest. Nevertheless, you as the host will almost always get prioritized in the long-term by all of these guests.
Can you tell us about the F5 lab? How many full-time employees are there? Is it a subsidary of LoMoStar or is it an independent research lab? What are they working on now?
F5 Labs is a professional technology collaboration, and the technology we develop and share inside is more ‘professional’ and complex than that of the general programmer community. It will be focusing on B2B relationship initially.
How will you ensure exclusivity for LMC within the LoMoStar app? What will ensure the app will use LMC?
There is no doubt that many exclusive features will be implemented in the future within the app where you must use LoMoCoin to complete.
How will iBeacon/IoT be implemented? Will it be implemented onto the LMC chain?
We are very interested and involved in the development of the Internet of Things. Our CEO next week will also visit the Lenovo Group training session as they are looking for solutions that is combining blockchain technology and the Internet of Things. I think everyone may have heard of the Lenovo Group, they acquired IBM personal computer business in the past.
What is your future plan to attract more investments?
From the scope of my responsibility, I am more concerned about the ecological construction of LoMoStar. Overall when it comes to marketing, it is something that money can solve. Moreover, we have always kept in touch with prominent exchanges and we have made some progress here. We will inform you when we are able to confirm more.
Well I guess that turned out to be a long article! Remember you should always do your own research and come up with your own assessment before investing. There is a lot more information available in the links below. I am just giving you my personal insight on LoMoStar (LMC) and why I feel this is one of the largest and most undervalued blockchain projects in China. Remember, everything you invest in should be for the long-term and patience is key. Regards, BTC2018 Useful Links:
Using LoMoStar You can download LoMoStar for Android at the Google Play store and it's also available for iOS. After you register and login, you can begin opening red envelopes and collecting cryptocurrency. Members who complete the AML/KYC verification can send/drop red envelopes in the ecosystem. When you open a red envelope it will use 1 vitality point. (You will earn 1 vitality every 2 hours) Given there are a bunch of red envelopes to open (but not enough vitality) you can spend Diamonds to open the red envelope containing the largest reward. (Diamonds can be purchased from the shop) The geographical map at the time of writing is under maintenance. It's very easy to get the latest news using the LoMoStar app. Simply click on Messages > System Announcements to get the latest news about the LoMoStar ecosystem. Remember no matter what I post or what I say, you should always do your own research, come up with your own assessment and talk with your financial adviser before making any investment decisions.
Bitcoin Regulation: Allow me to give you an Idea of What Is at Stake/a Day in the Life of a Regulated Financial Professional
When people ask for Bitcoin to be regulated the way other financial services are, they are typically people who have little idea what that actually means or would mean to them. I’ve actually operated under those regulations for many years – let me give you an example using what I know best: the world of stockbrokers/ financial and investment advisors such as those who work for major brokerage firms. (I was a FINRA General Securities Principal / Supervisor and Registered Rep for about 18 years – this group covers all stockbrokers and financial advisors at major investment firms) These examples are standard in this world:
EVERY piece of correspondence including email and hard copy mail MUST be approved by a General Securities Principal before being sent - “Nice having lunch Jim, look forward to discussing your IRA”
Certain written materials, such as brochures, articles web pages or blog pages ALSO have to be approved by a Compliance officer
In some cases these materials have to ALSO be approved by the regulators
Any article, magazine or link sent must be approved (and usually will not be)
Licensed Registered Representatives must report the use of ALL outside personal email addresses and social media - if you do use social media, a compliance officer from your firm WILL review your posts for ANYTHING remotely related to investments or the economy -- some firms disallow all social media entirely even for personal use - your work email will be even more closely monitored
Any public speaking event must be approved ahead of time and all content, PowerPoint slides, invitations and a script must be approved
Registered Representatives must regularly be fingerprinted, take tests and engage in continuing education
ALL activities done by a rep in his/ her personal time must be approved: this includes sitting on non-profit board seats and clearly anything related to business such as being a minor partner in a coffee house or owning income real estate – anything more complex than this is most certain to be disapproved and not allowed by the firm
If a client you have moves out of state and you speak to him and are not licensed in that state, you have broken the law
Registered Representatives are required to get updated proof of ID and account information from every client on a regular basis even if they have known the client for years
If an assistant who is not licensed answers a phone and a client says to sell a mutual fund the assistant cannot accept that order
All of your email is saved and reviewed by the firm – they will read it
Registered Representatives must be fingerprinted, have a background check and report annually at a compliance review which can take a couple of days on all facets of their life and business – even something as simple as renegotiating a personal loan is considered material and failure to report it can result in serious action
You are not allowed to donate to any politician, PAC or political cause unless you file a form explaining the donation
There are typically multiple authorities governing the actions of Registered Representatives this includes the DOL (for pension and 401k plans) the CFTC (for commodities) FINRA (formerly known as NASD), the exchanges, the SEC, the IRS in some cases and the State Securities Regulators in every state --- if the rep works at a bank they ALSO have FDIC, the Fed Reserve System and many other banking regulators – if a rep works with something like annuities, they ALSO need an insurance license and are governed by more regulations and the insurance commissioner
I have barely scratched the surface on all the other technical requirements and rules governing underwriting, trading etc.
So lets just pretend that Bitcoin is regulated the way FINRA financial services are:
It would be nearly impossible for any employed Bitcoin professional to comment on this forum legally
Permission would be needed before you spoke at or even attended any conference
You would need to submit everything you say or write to a compliance department for approval
You would need to have all your emails monitored and report even social media connections and email address
You’d have to check that you are properly registered in a state before speaking to a client there Etc. etc. etc.
Compliance costs total millions of dollars annually even for relatively small firms. This is why we see very few brokerage and almost no banking start-ups. I could go on and on. Next time you hear someone say “we need more regulation in order to help this space mature” take what they say with skepticism, especially if they have never actually lived and worked under such regulations. Please join the Bitcoin Financial Association (for FREE for Reddit members using coupon code RedditB) Http://bitcoinfinancialassociation.org Also, please sign our open letter to finance regulator Ben Lawsky of New York (anyone can sign regardless of location or if you are a member or not) EDIT: I forgot one of my favorites: due to concerns about protecting the elderly, you are forbidden from using the words "senior", "senior citizen" or "elder" in marketing material and marketing directed at seniors such as seminars held at senior community centers are a big no no Edit 2 -- is Bitcoin different from a FINRA product? Of course....but make no mistake that the FINRA (or even worse, the banking) model is exactly the type of regulatory framework they would like to see
I grew up working in a small retail shop. Many years later I owned a small retail shop. I don't anymore- it's no fun in the long run! I just want to share with you the point of view of the merchant.
No spare money. No spare time.
Most Merchants are really busy and not rich. people come into their shops every week trying to sign them up for coupon booklets, buying clubs and other weird schemes. There's a shitload of marketing gimmick companies and they mostly suck (because there's usually no solid metric to measure their success, and so they have no measurable deliverables. that means every time a merchant tries out a new one of these marketing gimmicks running an ad in a shitty local coupon magazine or whatever it's always a Gamble.). usually these people are regarded by Merchants as annoying because they're taking precious time away from the merchant, usually asking for some kind of payment, and worse it's often a borderline scam. "Good morning! is the owner around I'd like to speak with him?" no! he's going to stay in the back room and tell you he's not in because he's genuinely busy trying to grind out another weeks salary. That's precisely why they have those window signs saying "no solicitors." Very few Merchants are just going to jump in and start accepting Bitcoin without knowing anything about it merely because it sounds so fun and interesting. They are not going to do us that favor. But there's a lot of favors that Bitcoin can do for them if you can figure out what type of favor they need most.
Free advertising on the cyber??
One thing merchants would love is free advertising. If you show them a fancy website that they could be on and be highlighted on and that had good traffic that convinced them that there's a good chance that more people would come into the store, then they would go ahead and put a sticker on their window and give you 20 minutes to sit down with them and explain how to use POP or whichever POS system. "That's a pretty cool website.. you're going to put me on it and I don't have to learn about website crap and I don't have to pay anything? .. alright can you come back Saturday afternoon and explain the whole thing to me?" Besides advertising here's some other thoughts I shared in another post last week.
Discover ass pain
First find a problem that they have. And see if any aspect of cryptocurrency solves the problem. If you can name a problem that really does piss them off, and tell them that you have a solution for it, you'll have their attention. For any particular business their problems will be different and crypto may or may not solve it in each case. Here's some examples of pains in the asses of merchants that Bitcoin Cash can remedy:
"it's a pain in the ass to send money abroad!"
"credit card processing fees are taking a huge bite out of my profits!"
"too many of my customers checks are bouncing"
"accounting is so annoying when I have to wait 60 days for credit card settlement"
"the prices I charge for my services cannot keep up with inflation"
"PayPal froze my account because a customer lied about my product"
"my bank kicked me out because they think my business is somehow illegal"
"I often lose unexpected large sales because my suppliers cannot ship to me until my check clears"
"I see loads of fake 20s"
"at the end of the day at the market I have no idea how much I made until I spend an hour uncrumpling and counting all the filthy bills with potting soil and cow shit all over them"
"people don't want to enter my dildo store but they also don't want to use their credit card at the online store"
"I'd like to set money aside in a rainy day fund account but the banks charge me seven bucks a month maintenance fee. So I just keep my rainy day fund in my primary account... But then I forget about it and it gets spent down to zero when I'm in a temporary bind because I can see it."
"I really want some of this cyber money in case it goes up but there's no way I'm going to sign up on some Cyber Exchange and learn all that cyber stuff. no way. I'm sure it's too complicated."
[[LIVE BRAINSTORM]] for an upcoming Bitcoin Magazine issue
[ANN] Hi everybody. This is Ruben from Bitcoin Magazine. Our team wanted to try something new and brainstorm for our upcoming reddit themed issue right here. I had this idea in my back pocket, but several folks have requested we make this happen right now. It is perfect timing, because June is Reddit's 9th anniversary month and this brainstorm will end on the anniversary day of Reddit's first post (June 23rd is reddit's 9th cake day). We know the Bitcoin community has used reddit as a means to share info, tip new and old users, and have good discourse. I'm going to make categories that our readers have enjoyed. Feel free to add your own new categories or ideas. Silly or serious is just fine with us. Our main theme will be an introduction to reddit for those who don't currently use it. We will also talk about the Bitcoin's subreddit's influence on the Bitcoin community. [KEY] [Category] Story Idea Discussion We'll gather everything on the 9th anniversary of reddit and do some design mojo to present the topics you are excited about in a beautiful way. [WRITERS] Our writers/editors/magicians will be popping in and out as well. Here are their user names:
If you are interested in writing for Bitcoin Magazine, shoot me an email at [email protected]. [PRIZES] Just to make things slightly more interesting, there are prizes!
Top 3 up-voted ideas each get .1 BTC + a free Bitcoin Magazine
Top 3 up-voted comments each get .1 BTC + a free Bitcoin Magazine
June 2nd to June 23rd
[SHAMELESS PROMO] Mihai + co. helped us be the first to get a magazine dedicated to the Bitcoin space out to the world. We are truly grateful of their passion and are also thankful for your support. Here are some of our latest issues. Grab a copy!
[Repost] How to accept Dogecoin with your business, and why. A few pointers.
The original version of this post (see here), cannot be replied to anymore because it has been automatically archived. I am reposting it so I can keep updating and receiving questions on it. Enjoy :) You are a business owner and sell goods or services. You heard about Dogecoin. You wonder how you can use it in your business. This thread is for you. If you have no idea what Dogecoin is, read up on it here (click). In short, it is a digital currency that is perfect for everyday use. Read on if you want to know why it would be good for your enterprise.
Why should I accept payments in Dogecoin?
Dogecoin offers you:
international transfers of any size at near-zero cost (currently less than one cent)
no risk of chargebacks or cc fraud
no base fees
no vendor lock-in
no setup costs except a computer
fast and easy setup (literally minutes to get a wallet)
Dogecoin can be exchanged to national currencies. You can do this easily by yourself or use the automatic conversion offered by some payment processors (all is explained further down). You can also just keep your Dogecoin and spend it or offer it to your employees! :) Dogecoin is fun and it gets ever more useful the more people like you use and accept it. There are other merchants who have gone this path before you - not least Amazon's streaming service Twitch.tv. You can read interviews in this magazine and on this blog. You can also talk with other merchants in /dogevendors, check out these testimonials ([1, 2], 3), search this subreddit and post any questions you have right here!
I want to accept donations. What are my options?
Just download the client and put up the wallet address up on your page with donation info. Done! That's it! If you want something snazzy, check out this widget. If you need to track who sent you how much money (for goodies and that), you could ask that donators tell you that they're sending you a very specific amount of coins (e.g. 100.424242), and match it to their name. However, this can be abused as your transaction history is public. If you're actually selling stuff, check out the next section instead.
I sell stuff online. What are my options?
You have a lot! It boils down to one of these:
1) Manually accept payment with Dogecoin
2) Process payments automatically by integrating a Dogecoin API/checkout into your web store
3) Enter your stuff at a site that sells it for you (think Etsy or eBay, just with Dogecoin)
The last option can be interesting if you don't have your own web store, are selling digital goods and/or are just selling on as a side business. If your business is your main income, handling payment yourself is probably better. 1) Manually processing transactions All you need for this is a Dogecoin wallet. You simply generate a payment address for each of your customers, send it to them and confirm that your coins arrived at the address. This is super fast to set up and there is absolutely no commitment. If you just want to try it out before investing a lot of effort, just set up a wallet (either with the Dogecoin desktop client or an online wallet (listed under Browser "here") and let your customers know that they can now pay with Dogecoin. You can use some of these buttons if you wish( 12345) and browse this asset repository of useful artwork. The graphical interface is still being developed, but you can browse the files and find license information already :) 2) Automatically processing transactions Check out the section on APIs and payment processors further down! 3) Selling stuff through a 3rd-party site There are a number of sites that function a lot like eBay, Etsy and Xmart. You enter your products and they handle the payment and web store stuff. This is most convenient if you have digital goods to sell (music, books...) and want to send them out automatically.
suchlist (Permanent listings, auto-adjusted price, auctions, no fees)
DogeLet (Permanent listings, widget to sell on your website, digital goods ok, 3% fee)
stuffcoins (Auction site, digital items ok and automatic, 2.5% fees)
Dogeslist (Permanent listings, digital items ok, ~4% fees)
If you are an Etsy user who wants to accept Dogecoin, click here.
I sell from a physical store or location. What are my options?
All you need is an internet connection in your store and a web-capable device, such as a mobile phone, cheap tablet or a nearby PC. On-site, your customers can send you coins using their phone, or you can sell coupons for your goods online in advance. DogePos is a point-of-sales app that is open source and Koupah announced that they will accept Doge as well. You can use or apply for all of these tools right now! Either way, all you need is a way to 1) convert a USD price into Doge, and to 2) check that the coins have arrived in your wallet. To check your wallet balance and Doge prices, you can use the app MyDOGE oniPhones and iPads, and this app on Android devices. This is one of many useful price converter websites you can bookmark. Checking your balance on the PC can be done with the wallet client. If you want to sell your goods or coupons for them online, it might be easiest use a ready-made stores capable of digital distribution. Check point "3)" in the above section for some options.
Dogecoin payment processors, APIs, checkouts
Currently, the established platforms accepting Dogecoin seem to be these:
You can probably find people who have used one of these in this thread. This guy volunteered his code for automatic currency conversion and his help setting up the plugin for OpenCart, for example! If you are tech-inclined, you could run your own payment server with dogecoind and an API like this. This is not yet ready for laypeople though, so don't do that unless you want to get messy.
Exchanging Doge to USD/EUGBP/other national currencies
If you don't have your payment processor do it for you, at some point you will want to get your Doge converted to your currency of choice, which you should do at an exchange. Keep in mind that you will have to get registered and verified at the exchange, which can take up to a week. Transfers to and from national currency can take a few days, but trading and transferring digital currencies is very fast and usually near-instant. The following exchanges let you trade your Doge for national currency directly (last updated Sep 17):
ANXPRO (lots of currencies, but based in HK so deposit/withdrawal fees are high)*
If your currency is not listed above, you can either sell your Doge here, or exchange them to Bitcoin and then sell those. You can sell Doge for BTC on all of the exchanges mentioned above, or choose one from this list. To sell BTC for national currency, you can also go to Justcoin or LocalBitcoins. There are many similar sites - just pick the one you like best! Things get developed incredibly fast and Dogecoin is not even a year old. This will only get easier, so keep checking back! Justcoin is looking to trade Dogecoin to national currency, and others are sure to follow.
Alright! How do I promote my business now that I accept Dogecoin?
Note that there's a collection of Dogecoin artwork and assets for you to use in this repository, complete with license information so you can design your promotions and website with it. 1) Submit your business to these directories:
You will get views, especially if you offer an interesting product or a Doge-related promotion. Hint: the best promotion is to offer a few % off for all Dogecoin purchases. Also post and comment to this just to discuss your plans and ask your questions. Come talk to us here and in /dogevendors, we are a fun community :) I'm editing and updating this post regularly. The last big edit to this text was in Apr 2015 (new payment processors).
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