Hardware Startup Tech/NON Tech Founder
I'm a single founder who builds POS kiosks for cryptocurrency in San Francisco. I'm looking someone with technical and or business/finance skills. ie. Nodejs, JQuery to help launch to MVP in early 2020.
I'm a single founder who builds POS kiosks for cryptocurrency in San Francisco. I'm looking someone with technical and or business/finance skills. ie. Nodejs, JQuery to help launch to MVP in early 2020.
Ele. I'm interested in talking can you DM me? I'm a business developer.
This comment was deleted 7 years ago
Are you aware of Bitstop (https://bitstop.co)? They do crypto ATMs.
Yes, I'm aware of them and the others in the ATM space. We are taking a vastly different approach to the hardware solution. Our solution is a scalable solution that can saturate cities and rural areas. Most of these machines are found in malls. That is not my target demographic. Selling hardware is a means to an end. The business is in the value transfer network. The hardware if done correctly can always be upgraded.
Can you do a purely software implementation? Hardware is hard. Specially at the beginning if you are going to do an MVP and you want to reach as much customers as possible as fast as you can.
We could do software only, but selling crypto is not the end game. There are more services we will offer that require a physical location. My MVP is complete and is inexpensive enough that I can bootstrap it myself and turn a profit per machine. I'm not concerned about speed or difficulty. This is about long term market share. There are only about 6000 of these machines at this time. In comparison there are millions of traditional ATM.
We re placing these machines in SF and Alabama on contract in businesses. The machines will sell crypto at a markup. The second income stream of the business is selling the actual machines to people who want to sell their crypto retail. We are going to use machine sales to raise funds at the top of the year. We source available parts and build the machines locally and host the servers from my space in CA and AL is coming next. We are lean our burn rate is miniscule for a SF startup. Im taking a sustainable approach and not using cloud services. The third revenue stream is server monthly subscription after the first year. My goal is to sell 40 machines next year at $4000 per piece, and the company to host 10 in SF and 10 in AL. This is a platform and there's more that I want to build on top of the network, but at the moment I'm not looking to inspire competition so I will stop here. The arbitrage opportunities alone will create significant cash flow. I think of my company as a quant shop breaching the 4th wall.
This comment was deleted 5 years ago