Crypto Idea — CryptoCafe

Published in

CRYPT BYTES TECH

8 min readNov 20, 2017

Update:

Hi CryptoCafe will be a Airdrop Token, Powered by India Crypto Group & CryptBytesTech. Please follow https://www.reddit.com/r/indiacryptogrp/ for future updates on CryptoCafe airdrops.

Background

I have been reading lot of ICOs and lot of ideas that float around the Crypto space and I am sure all of us would have had some great idea which we would like to work on and add value to Crypto community. And that was one of the main aims, why I started this blog. I thought that there are some great use cases and ideas that are raising funds for next crypto/blockchain/internet sensation and also found that there was scope for reviewing them and expressing my views viz a viz the current times and even if such ICOs were viable.

For me Cryptocurrency and the Crypto community at large has always seemed as a group who are always in look out for a true idea and supportive of innovations which will help add value to their portfolio or also build something meaningful in Crypto space. This also goes without saying that some of the noobs who started in the hard journey of being a Crypto investor over the years have become pros and today are themselves either evangelizing Cryptocurrency and are adding value by starting crypto ventures.

I also consider myself such a noob and today in an informal way I am opening my blog to share Crypto Ideas which I have had and also promote ideas of others who either need help or would like some funds to build their next dream. And in starting the Crypto Idea series I would also like to get more feedback and even cryticism if you think such an effort is meaning less.

Introduction

The current idea that I am today talking about is called CryptoCafe, I came across this idea since last few months that I have been running my meetup group Bangalore Blockchain Cryptocurrency Meetup, and the issue is of a suitable space where the Crypto and Blockchain community can come, hang around and share ideas or views. Though a difficult journey, it has also been a very helpful journey over the months and I have learnt from my experiences. One major issue in running these meetups I found was that of a dedicated space. While many people come out offering space for meetups, most of the time there is an expectation that we do something in return for the favor which is fair enough but in such a setup some times it becomes very difficult to have a meaningful discussion around crypto and Blockchain. Another aspect is related to Crypto Startups, there are many people and Crypto startups working in Bangalore and around India, but like many in the Crypto community around the world the only place for them to hangout is either during conferences or via the whole network of weekly or monthly meetups. I feel there is always a urgent need to setup some dedicated spaces where such entrepreneurs and people like me can engage anytime and help create more ideas around Blcokchain & Cryptocurrency.

Ideation

The idea behind CryptoCafe is to create a creative space and a Cafe to be themed around Cryptocurrency and Blockchain where general public and Cryptocurrency and Blockchain enthusiasts in India and around the world can come anytime and share their ideas, conduct workshops or ideations and learning sessions or just talk helping evangelize Cryptocurrency and Blockchain. This will also be a place form where I will be running my meetup dedicated on a weekly basis, and more community connect for India and the world.

Another part of CryptoCafe is to setup an ecommerce store where Cryptocurrency enthusiasts with creative bent of mind can sell their work of Crypto Art to Crypto Lovers which I hope will be a small step in creating a sustainable ecosystem of promoting Crypto culture which is also a very important aspect of evangelizing Cryptocurrency and new age economy.

Previous Experience

My area of expertise has been Information technology and for a better part of my 11 year career I have spent exploring lot of technologies and finally settling on Blockchain & Cryptocurrency. This is a huge career decision for me as I am committing my career to Cryptos as many say it’s a bubble but I am bullish on it. In last 1 year I have been building a dedicated community and audience around Cryptocurrency and exploring how much I can help evangelize this space and would keep on doing fulltime. While for many Blockchain is part of a hype cycle, for me Cryptocurrency and Blockchain is an opportunity where we can build the new age economy which is decentralized and more diverse and free than it is now. With such a future in mind it is important for me to make people aware of the opportunities and risks which comes with Crypto investing and developing businesses and infrastructure around Blockchain.

Fund Raiser

CryptoCafe while is a very good concept in my view, may not be really a profit-making entity in near future as unlike any Cafe business, the key focus here is long term sustenance and providing a space for Crypto Enthusiasts. And also, I am currently only looking to raise seed capital for the project that will help us run for one year of operation. So that we can bootstrap the idea and based on the funds raised we can go ahead with the execution. I chose a fund raiser than a ICO model for crowd funding because I do not want to create a new token or new currency which itself will need a whole time brooding on tokenomics and spending more time in adding value to the token rather than executing the core idea. Also, we are not building a business model around Tokens but rather on a flexible use of fiat, Cryptocurrency or even some kind of tokens in near future to show how a Cafe can operate using Cryptocurrency.

So, are there no tokens?

I am not doing an ICO but also am mindful that those who are benevolent to help us with this idea could be a future supporter of CryptoCafe or may even be early customers and hence for all who would like, I would be circulating Waves tokens to the supporters at the end of the fund raiser. These tokens will be redeemable tokens for discounts either on the ecommerce store or for spot discounts to be used in the cafe once I get sufficient funding and both are operational. And yes, to all token holders and supporters coffee will be on the house.

Also, please note that the supply of this tokens will not be capped as these are not ICO tokens, they will be re-issuable tokens and not meant to be traded in exchanges, though theoretically you can trade these tokens in Waves DEX. But we will discourage from doing so as the amount of discount on our platform will in no way related to the value of the token in DEX.

Key Highlights of the Fund Raiser

Fund Raiser period — Nov 21 to Dec 21 2017
Funds Acceptance Mode — BCH
Soft Target (Minimum seed fund needed to start CryptoCafe) — 40 BCH (Based on the market rates as of Nov 21 2017)
Hard Target (Beyond this no funds will be accepted as it means a substantial risk for Fund custody) — 100 BCH (Based on the market rates as of Nov 21 2017)
Tokens Quantity- Max 1 BCH = 1000 tokens
Platform for Tokens — Waves
Utility of the token — These tokens will be redeemable tokens for discounts either on the eCommerce store or for spot discounts to be used in the cafe. Please note these tokens are not for any ICO and will not be registered in any exchange as that is not the primary aim of this fund raiser. There are better ICOs for decentralized apps which one should invest.
When will the tokens be shared? After the completion of the Fund raiser, the tokens will be shared equally among all supporters.
Why there is no pre-sale/discounts? As this is a fund raiser and not ICO so I am not running a pre-sale or offering discounts.

Address for the Fundraiser

Update: The fundraiser has closed and now CryptoCafe will be an Airdrop token

Important Notes

Please also fill the form in the below link with your Bitcoin Cash & Waves addresses and if possible any further details so that we can engage with you and keep you posted on future highlights of how the project is progressing.

Update: The fundraiser has closed and now CryptoCafe will be an Airdrop token

Also, I will be setting up a Reddit thread soon where one can come and talk, follow or comment on the project.

Update:

We will also be setting up a Blog for CryptoCafe for sharing updates once we start getting some BCH contributions. Also, please check out this blog post for more updates
For all supporters for this Idea I request you to also create a waves wallet at https://waveswallet.io/ in case you would want the tokens.
Update: The fundraiser has closed and now CryptoCafe will be an Airdrop token

Why Choose Waves?

My aim for using Waves as the token platform is because I find is really a great platform which is focused on creating tokens as a core feature and also simplifies the process and my current idea is to see how waves tokens can be used in real businesses. For now, though I think you may also need some waves to spend your tokens as Waves is the currency used for transactions cost in Waves network.

Risks & Limitations

Please note that given the limitations of resources and the amount I am raising I have not chosen an ICO model, as I am aware the significant effort and risks that goes into running an ICO. And hence if you are looking at some real ICO opportunity or significant profits or a chance to trade tokens or flipping, I request you to follow many good ICOs out there that are great investment opportunity.
Unlike earlier years there is significant legal risks and regulatory observations for all the fund raising in the Crypto space which is a significant risk for not only who is looking to raise funds but also for investors looking to support a community project. And hence if you see any of these risks in the above idea, please do not spend any crypto in this project and even if you are benevolent enough only put a small amount so that it is not a significant risk to you and to me as well.
Also, there will be many people who will look this fund raiser as investing into an ICO, which I would request is not and hence please not invest in this idea if you are looking for one. Also as this idea is not even following some of the well-established standards of SAFT or white listing and telegram engagement, it poses a significant risk is not an investment vehicle. And also, this is a crude idea which we want to run in a lean startup model so our idea is an experiment which has high risk of failure.

Finally

Last week I took a very big decision in my life to work fulltime in Crypto, today I am also taking another big risk of exploring BCH as a crowd funding platform. I am also aware of the legal and reputational risks known unknown but I am running this idea as a start in the hope that something wonderful will come out of it and despite running the high probability of being trolled and down voted to bottoms of reddit. But if my idea is even read and even in any other form is replicated elsewhere and more people use this idea to create more idea spaces for Crypto Evangelism and awareness, then I would feel my mission is achieved.

Crypto Idea — CryptoCafe

Written by DailyPriyab