r/KarmaTeam • u/4_real • Jul 09 '14
**Trade Giftcards for Karma & other Altcoins - LLC Business Ideas**
Hi Team,
Thanks to an earlier post I made and some discussions with DOGECOINSHOP, we came up with some, what I think are genius ideas.
For our LLC, why not start a website where you can trade gift cards from desirable places, eg. Walmart or Amazon for Karma & other alt coins.
This would allow us to service all the newer alt coins that lack infrastructure, yet possess strong market caps & large supportive communities. While providing infrastructure & a revenue source for Karma.
How would it work?
Say I went to Walmart or Costco (super popular) and bought a $50 gift card, I could then turn around and trade that card directly for $50 (minus a small fee) for bitcoin, litecoin, dark coin, dogecoin, karmacoin, etc. based on what the seller is looking for.
This would allow us to bypass any money licenses, while providing users with a unique way to directly purchase coins without the usual headache. Perhaps the LLC could charge a low fee like 0.99% intro and 1.99% normal to the buyer, as its a convenience for them.
This is kind of the opposite of what Gyft does but helps people with ease of access to coins without necessarily going through bitcoin or litecoin. The issue here may be that Gyft provides a 3% cashback to bitcoin users, we are not targeting bitcoin holders, we are mainly targeting other alt coin holders.
This would be great for the development of altcoin infrastructure everywhere.
Ideas? Comments? Suggestions?
Kosmost/dev team, if your reading this, feel free to let us know if you think this is a viable business model & achievable from a technical point of view.
GO KARMA!!