What is the Know Your Vendor Initiative?
Two weeks ago (April 16. 2016), me and the rest of the CoinStaker-Team gathered and tried to figure out a way, to reduce risk and keep your (our) money safe. Then the KYV-Idea was born! It’s basically a simple certificate, which we offer for free to all of the crypto-businesses monitored by us: hyips, cloud miners etc.
Here is the Know Your Vendor official page – please read it first, then continue reading this article!
What did we do besides writing the KYV-Page?
After we had the idea, we made the page and sent following email to all of our monitored hyips and cloud mining services:
What happened afterwords?
Now our dream starts to get shattered.
We knew, that we won’t get many responses, but in the period of more than two weeks, we just got one reply – by Genesis Mining, which said, that they don’t need any further promotions. So 1 out of probably 20+ responded.
What are we going to do next?
We will continue offering a free certification to every new monitored hyip/cloud miner – and hope, that some day, they might want to improve themselves and be more transparent.
Do you have any ideas/recommendations how we could improve or how we could make this mission possible? If yes, please give us your feedback!
What are we working on right now?
With the HYIPs and the Cloud Miners the game is hard – sometimes you make profit, some times you lose money. We are not big fans of taking huge risks, so once again we gathered… and the following idea rose: Make a CoinStaker-Fund! (Investment Pool)
Together we are stronger!
Hear us out, the idea is very similar to what venture capitals (VCs) are doing. You give them your money, they invest in startups and the profit/loss is shared. The problem of venture capitals is, that they search for investors who are willing to give them thousands upon thousands of dollars, which probably nobody of us has.
Then there is the problem in the own investing in startups is, that they want a minimum investment of 1000$ – because else the administration and management of the shared is too complicated.
So, you will be investing in our Fund and on our side, we will be investing (after making user voting etc.) into mostly Cryptocurrency-StartUps. For example, we have already invested into two bnktothefuture StartUps. One of them made an ether-mining-farm and are paying us daily dividends (% of their profit).
Because not all of the StartUps start earning money instantly (product is getting developed etc.), there will be for sure periods, where there is no daily % paid. So a possible return would be f.e 6 months later a 150% payment after they get bought off.
One more huge benefit of this is, that we are not investing everything in one company, but we are diversifying!
But before we make a Limited Company (which needs a yearly balance sheet etc), we want to know, if there is ANY interest of you this sort of investment. So please take a vote in the following poll, to help us shape our idea and future.
Thanks for voting and for staying connected with us.
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