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My business idea, what do you think?

Thread title: My business idea, what do you think?
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12-09-2004, 08:04 AM
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DateinaDash is offline DateinaDash
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  Old  My business idea, what do you think?

Hello everyone, i very rarely discuss business so publicaly however i wish to gage some of your thoughts, comments and questions about my new business idea.

Myself and patrick (one of our administrators on the forums) were discussing a fantasy league idea i have earlier this evening. About halfway through our discussion i had a brainwave!

The concept of this fantasy game has been done before (i mean what hasn't?") It has not been done in this sense and will certainly be a first for the hosting scene.

The general idea is a virtual stock exchange, patrick called it (the inet exchange) which is obviously just a working title

The concept behind this game is webhostingtalk, webhostingtalk has close to 90,000 members and i believe a vast proportion of these members would be interested in a game like the one i plan to create.

Why would they be interested?

I figure the vast majority of wht have deep pockets, own their own business and have a large amount of free time on their hands. The other important factor in this is the advertisement and exposure every company included in the game would recieve.

How much would they pay?

We were thinking of charging a very minimal low fee to play (somthing like $5) who can't afford $5? I mean everyone has at least $5 in their paypal spare.

What would they gain?

At the end of each game (month) there would be an overall winner. The winner would be the player who gained the most profit form his or her shares and would collect a prize. The prize will vary from month to month and could be a Vb skin, bannersmall package set, hosting for a year, 100,000 impressions on inet or cash prize.

I am not going to go into the depths of the game here, that is the general overview and information. Who thinks it is a good idea? Who would play? And who would pay to play? Any comments, ideas and suggestions are appreciated.

Thanks for your time.

12-09-2004, 12:13 PM
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x3knet is offline x3knet
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  Old

Sounds like an awesome idea. But the only thing about this is that many people don't like to lose money. And with stock exchanges, your stock can either raise or drop... and people will fear the fact that the stocks may drop and they will lose their whole $5, lol.

Will the stocks be based on stocks from like NYSE and NASDAQ? I'm guessing you guys might have some amazing coder in the background over there that's going to find a secret link that updates the stocks stats every 23 minutes, lol. Ya.. I bet that will happen.

Anyway, sounds like an awesome idea. It should draw a lot of people to the site. Little thing I learned through my few years of designing... Where there is money, people will come. Enough said, lol.

12-09-2004, 02:18 PM
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i dont have $5 spare lol

i think its a pretty god idea, i have seen this game before tho' not online but with NTL digital (the TV games)

you start off with like $500 or something and you have to invest and buy stock and you can like see a finicial advisor and buy newspapers to see whats doing what and all that carry on. . . . sounds like a pretty good idea if you can get it up and running

as for would i par to play it? im not sure if the prizes where good i might

12-09-2004, 03:03 PM
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There would be a whole bucket-load of regulations and laws you'd have to figure out before you even considered starting this thing up. A lot of hoops to jump through.

Since you're going to be taking peoples' money, and basically giving out a 'prize' to the competition winner, it'd be pretty much like running an online poker site or something similar. And they have a LOT of stuff to take care of where the law is concerned.

12-09-2004, 05:02 PM
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Since you're going to be taking peoples' money, and basically giving out a 'prize' to the competition winner, it'd be pretty much like running an online poker site or something similar. And they have a LOT of stuff to take care of where the law is concerned.
Not at all, it is not gambling. Poker is. The game is not randomised and does not rely on luck to win. Your $5 pays for the game and is not a stake.

This is not considered gambling and therefore would not break any laws.

12-09-2004, 05:59 PM
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How will running a stock exchange not be randomized?

12-09-2004, 06:13 PM
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The stock exchange relies on real issues concerned with the real companies involved. It will not be random it will be based on actual events. Is the REAL stock exchange considered gambling? No. Stocks go up and down not by chance.

12-09-2004, 06:23 PM
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You're still dealing with people paying money to play a game, and you're also giving payouts... which means there's the possibility of people calling foul. Thus, absolutely transparency is required, and you will need to be under the supervision (for want of a better word) of either the taxation department or some other body that deals with these issues.

I didn't mean that it's like poker in the style of the actual gameplay... what I meant was, you'll be considered a similar service and will be governed by the same rules.

12-09-2004, 09:58 PM
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Good idea, I think it will be hard for you to code this program though. It's going to be a workload.

12-09-2004, 11:13 PM
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I am not programming it. I have a very skilled team of developers who can handle this And deep pockets to fund its development.

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