RealPay - Let's beat PayPal at their own game!

[TheGlobber]

Since some people got confused about the investment part and all, let me explain.

There are three categories you can join:

1) Free User, which means you can download the software, register at the forums and use everything for free

2) Investor, which means all of the above plus more than 1 Million RPU if you bring two more people to the project. To become an investor and get the RPU you will need to invest $130 (around €100).

3) Moderator, which means all of #1 plus 50 Million RPU if you work as a Moderator for our forum, bring two more people to the project and also invest $130.

The important part is this:

I can see most of you find this project interesting. You can really help our project by just joining our forums for free and participating. No need to invest just participate, say your opinion and of course bring more people to the project.

I will also post below an affiliate deal for those of you who are interested in promoting RealPay to your clients, lists etc.

Dont forget that you can simply help by telling other people or advertising us at your site or service.

 

[joshweaver9]

If this doesn't sound like a Pyramid scheme...I don't know what does. That being said...I'm still interested and am going to PM you.

 

[TheGlobber]

If this doesn't sound like a Pyramid scheme...I don't know what does. That being said...I'm still interested and am going to PM you.

Hope we can prove you wrong..

Looking forward to having you on board!

 

[bryanon]

Few quick questions:

1. By whom will the "investments" be held? If it's the Anguilla company then who are the directors/shareholders of this company? Is this information disclosed to investors?

2. Are the any plans what so ever made with regards to how the raised funds will be invested (the PDF is asking people to invest but fails to mention any specifics), can the investors see those plans and who will be the person/people managing these investments? Also what % of it will be invested and what % held to cover "cashouts", claims against the company etc.? Will the latter be held in a segregated account?

3. Is there any sort of paperwork that guarantees the safety of our "investments", or are we merely buying pieces of paper that MAY one day have some value if someone chooses to buy them (or RPUs as you call them)? What prevents you lot from raising a few mil and either a) growing the company large but conveniently "forgetting" about all the investors by purposely devaluating the RPUs and keeping all profits among the shareholders or b) deciding to not use the funds for investments at all.

I may sound overly negative or cynical but these are real concerns and something that many, many potential "investors" will ask you. By the way, if everything sounds nice I'm not at all against getting on board. Mostly though because it's only 100 euros and you guys seem pretty enthusiastic about the idea, not because it would make a whole lot of business sense (based on the information given till now anyway).

Cheers,
Bryan

EDIT: P.S. Do you guys own / are in the process of acquiring the domain RealPay.com? Whois records show a Herbert Lee of China as the owner of this domain and this hasn't changed since September 2008.

 

[Fripper]

You got me interested as well, it's sounds like a great opportunity. Will continue to read this thread.

 

[TheGlobber]

Few quick questions:

1. By whom will the "investments" be held? If it's the Anguilla company then who are the directors/shareholders of this company? Is this information disclosed to investors?

2. Are the any plans what so ever made with regards to how the raised funds will be invested (the PDF is asking people to invest but fails to mention any specifics), can the investors see those plans and who will be the person/people managing these investments? Also what % of it will be invested and what % held to cover "cashouts", claims against the company etc.? Will the latter be held in a segregated account?

3. Is there any sort of paperwork that guarantees the safety of our "investments", or are we merely buying pieces of paper that MAY one day have some value if someone chooses to buy them (or RPUs as you call them)? What prevents you lot from raising a few mil and either a) growing the company large but conveniently "forgetting" about all the investors by purposely devaluating the RPUs and keeping all profits among the shareholders or b) deciding to not use the funds for investments at all.

I may sound overly negative or cynical but these are real concerns and something that many, many potential "investors" will ask you. By the way, if everything sounds nice I'm not at all against getting on board. Mostly though because it's only 100 euros and you guys seem pretty enthusiastic about the idea, not because it would make a whole lot of business sense (based on the information given till now anyway).

Cheers,
Bryan

EDIT: P.S. Do you guys own / are in the process of acquiring the domain RealPay.com? Whois records show a Herbert Lee of China as the owner of this domain and this hasn't changed since September 2008.

Thanks for your interest!

1) Investments will be held by the Anguillan company. It has been formed by a team of 7 (me + 5 investors + lawyer) with me as the Director in charge. For now the investors have decided to stay in the shadows but i am pretty sure that if this a success they will come out. So basically its my a*s on the line.

2) Investments will go towards the total pool which will be used for advertising, funding new projects, new services, continue development of the client etc so it is a non refundable investment nevertheless. It will also cover all expenses made so far from the investors.(in bold to avoid people questioning or criticizing or anything) The investments will be used to safe guard this creation but at all times the decision will lie with the investors and no one else as they took the risk of starting this project.

In addition, i would like to state my opinion that WHEN (not using IF as i am pretty sure) this project reaches 10,000 members there will be billions to be made not just millions. So an investor running away with any profit made from the initial investments will be an act of idiocy at the least.

Some rough numbers since we compare ourselves to PP: PP made a revenue of $4.4 Billion last year and they cant (meaning they are limited or not offering services) even offer their services in countries like Russia, India, China, Bangladesh and others. Now imagine covering these areas. It would be stupid for someone to leave..

3) You invest and get RPU in return. Your investment is gathered in a pool and investors decide what to do with it. As soon as we reach 10,000 members with your help, what you bought with €100 will now cost millions. This is not a lie or an attempt to trap you. This is what will actually happen. Each RPU will cost at least $1 at the marketplace and new users joining will only be able to buy from people like you who invested and have a stash of RPU. We will limit the price to not drop under $1 at any point meaning sell orders under $1 will not be accepted.

This means that you will be holding something worth millions but of course its common sense that you wont be able to cash it out. You will be able to slowly cash out amount on a daily basis according the demand from new users.

We will make sure to create a huge network of businesses around all kinds of online activity so that people can spend the RPU they are buying.

Lastly i would like to add that the price might also start rising thus making your RPU pick more value as time goes by.

You are not sounding negative. These are questions i would ask myself if i were you. I want to invest in something that is clear and i know what i get for the amount i pay.

Regards,

Antonios

P.S. We contacted the owner a couple times but he has not responded yet. It must be some forgotten website registered to a forgotten email. Will keep contacting in hopes we reach a deal.

 

[TheGlobber]

You got me interested as well, it's sounds like a great opportunity. Will continue to read this thread.

Dont forget to join the community! Its free!

 

[SOCOM]

Don't mind me adding to the skepticism, but AlertPay tried this and many businesses didn't hop on the train. Liberty Reserve is usually strayed from because the exchange process is a nightmare. Bitcoin went to shit. How can you know that your business won't succumb to the same fate?

 

[ben10023]

Hi,

registered now so worked that one out, a few links on your site seem to be dead though, and fb + twitter not connected yet.
Have a few other questions:
1) The bitcoin consultancy's site has no mention of realpay on it?

2) In the client there's an option to mine RPUs, I thought they have all been created?

3) How many RPUs will you retain for yourselves, and what percentage of the pool is it?

4) How will you stop underground marketplaces popping up through networks like TOR?

5)Will you offer a cyberwallet function like some bitcoin sites do?

6)10,000 is a huge number of people willing to put $130 into something like this with no guarantees, how big is your marketing budget?

7)The set-up requires a certain amount of technical knowledge and without a secure trusted online cyberwallet how will you get 'normal' people to sign up?

8)How are you going to deal with hacking and theft, like happened with bitcoin?

 

[TheGlobber]

Don't mind me adding to the skepticism, but AlertPay tried this and many businesses didn't hop on the train. Liberty Reserve is usually strayed from because the exchange process is a nightmare. Bitcoin went to shit. How can you know that your business won't succumb to the same fate?

Very good points!

Well here are some facts:

1) Attempting to create a large community -> A lot more minds than just a bunch of company employees. Community driven.

2) Variety of backgrounds -> Marketing, Law, Economics, Engineering, Computers, etc.

3) Low fees close to none kept at all times as it is for the best of the community.

4) Initial distribution of wealth spread among more than 10,000 members who see true value in this project.

5) Thousands of members who can create their own business around the network -> If a well known company (eg Amazon) doesnt want to accept RealPay as payment method in the future we can always create our own Amazon.

The only thing that is sure is that it is the first time in my life (i have been involved with many other projects) that i really KNOW that if this is executed correctly then it will succeed no matter what. I am not saying it might succeed. I KNOW it will succeed.

I have been talking all day for the past weeks with different people from different parts of the world and everyone is excited. I can understand excitement but i also see belief in most people and they are showing their belief by slowly signing up.

If we want it to become a success then it definitely will.

Lets do it!

 

[joshweaver9]

Are you saying that when the community reaches 10,000 investors that the RPU will be valued at $1 or is it 10,000 members?

Or is there no way to join the community for free?

 

[huykun]

I still prefer PayPal because funds can be withdrawn immediately into actual bills. I don't think there will be a platform that can outwit a monopolized company.

It's like saying Ubuntu will one day beat Microsoft in the OS industry.

Right?

Creating your own amazon? Are you kidding me? This is why I never want to go into AlertPay and all other crap/shady payment services like those. It's a hassle, it's unstable, and bigger companies like PayPal, who is owned by eBay are much more stable.

Okay, maybe AlertPay isn't that unstable, but i ALWAYS prefer PayPal over AlertPay. Since I do legal transaction all the time, and take precautions, I never had a problem with them.

But you're saying if these big ass companies like eBay, Amazon, basically-every-big-websites won't take your digital currency as a payment, you're going to make your own that will? WTF

I love the idea, but I don't think it will get as far as bitcoin had. BitCoin isn't even that popular, especially in the U.S. I can ask a random peson on the street if they know BitCoin, and many will say "What is that?".

I'm not trying to bash your thread or anything, but don't you think creating your own kind of digital currency is a bit slow-growth plan that's never going to beat PayPal, Plimus, Authorize.net, and other big payment processing companies?

It doesn't matter if your company is better than BitCoin, or PayPal. What matters is the legitimacy of your business and if the service is convenient and available for the masses. People can to make better things than AdSense, AdWords. Better search engines than Google and etc.

But are they really better? How will yours be better other than features?

I don't see how your currency can be a viral thing, than other companies. How will investors make any money, if not a lot of people are so damn excited to join this thing.

 

[Winchester]

This isn't an investment - let's call it what it is a gamble and a bit of shady dealing. Any currency units scheme is. You also seem to have no official paper work for investors, and dont provide the names of the directors.

You've given no solid business plan as far as a cost break down of what you would want to do with investor money, or the steps you plan to take to get there.
r
Also the fact that its an Anguillan company and you never answered Bryanon's question about the domain ownership are going to make investors feel uneasy. If you want real investments for a real company give us real information

 

[joshweaver9]

Lets break this down for a second...how are these shares going to be valued at $1/RPU. You have slotted space for 50 mods and 10,000 members at which point it will be valued at $1. 10,050 members x $130 investment =

$1,306,500

This is the total investment by all the members. The share structure that you have laid out is below.

Mods - 1 Billion shares.


Max Investors Shares Given Shares Outstanding
40_____________1625000_______________65000000
80_____________1550000______________124000000
160____________1475000______________236000000
320____________1400000______________448000000
640____________1325000______________848000000
1280___________1250000_____________1600000000
2560___________1175000_____________3008000000
5120___________1100000_____________5632000000



Possible Total Investor Shares Outstanding______________ 12,961,000,000



Now either this is some very creative math on your end or a massive miscalculation/misunderstanding on my part but how do these shares have a value of anything close to $1 at the 10,000 member mark. Is someone infusing a huge cash amount at that point? Are you assuming that there is going to be a real market for these RPUs as soon as that member number is hit? It doesn't add up.


I have these shares being worth a whopping $ 0.000100802407 per share at the 10,000 member mark.

Look forward to hearing your answer.

EDIT: With your COMMITTEE keeping an additional 3.5 billion shares it even further dilutes the valuations I did above.

 

[florflor]

I have used intersango for bitcoin. It is a very good platform. They took over britcoin and its excellent.

 

[TheGlobber]

Hi,

registered now so worked that one out, a few links on your site seem to be dead though, and fb + twitter not connected yet.
Have a few other questions:
The bitcoin consultancy's site has no mention of realpay on it?
In the client there's an option to mine RPUs, I thought they have all been created?
How many RPUs will you retain for yourselves, and what percentage of the pool is it?
How will you stop underground marketplaces popping up through networks like TOR?
Will you offer a cyberwallet function like some bitcoin sites do?
10,000 is a huge number of people willing to put $130 into something like this with no guarantees, how big is your marketing budget?
The set-up requires a certain amount of technical knowledge and without a secure trusted online cyberwallet how will you get 'normal' people to sign up?
How are you going to deal with hacking and theft, like happened with bitcoin?

Thanks for joining,

Please post on the forum which links dont work to fix them. The social media links have not yet been setup.

1) Although Bitcoin Consultancy is contracted by us they have no obligation to post anything on their website.

2) Yes all RPU have been pregenerated (premined). You mine transaction fees.

3) The amount RPUs we (= team of 7) will retain will depend on the amount of Mods that will join our project but it will be somewhere between 3.5 Billion and 5 Billion. It will be at the most 25% of the total.

4) From previous reply:

2) We cannot control it but we will make an agreement between the community (RealPay) and the company which will run the marketplace (RLCXE Ltd) that the only legitimate place to exchange RPU is this particular marketplace and it will be deemed illegal to form a separate marketplace.

In addition, our legal department (yes we have one of those as well ), will get heavily involved in dealing with these matters.

Furthermore, we plan to keep the marketplace free of fees so a competitor charging fees will have no chance of surviving.

5) Yes, a cyberwallet will be offered from within the marketplace and all RPU will be in cold storage/moved offline to keep them safe. The marketplace will be run by our developers to ensure everything is working perfectly. The marketplace will be user-friendly without the need for any technical background or knowledge so there wont be any need for people that dont want to use their wallets to do it as they will be able to use their cyberwallet instead. The developers have been running a bitcoin marketplace for 2 years without a single incident (hacking, theft etc) and thats the reason we chose them to develop and run our marketplace.

6) We are expanding in different countries (with huge populations) all over the world and our marketing efforts at least in the beginning will be mouth to mouth advertising as well as affiliate marketing. The added incentive of bringing two more people to join the project and receiving 10 times more RPU than you would if you didnt bring anyone is deemed as a big motive for all investors.

Looking forward to your involvement in the project.

 

[scottx1995]

Thanks for your interest!
Some rough numbers since we compare ourselves to PP: PP made a revenue of $4.4 Billion last year and they cant (meaning they are limited or not offering services) even offer their services in countries like Russia, India, China, Bangladesh and others. Now imagine covering these areas. It would be stupid for someone to leave..

3) You invest and get RPU in return. Your investment is gathered in a pool and investors decide what to do with it. As soon as we reach 10,000 members with your help, what you bought with ?100 will now cost millions. This is not a lie or an attempt to trap you. This is what will actually happen. Each RPU will cost at least $1 at the marketplace and new users joining will only be able to buy from people like you who invested and have a stash of RPU. We will limit the price to not drop under $1 at any point meaning sell orders under $1 will not be accepted.

what is your plan in getting into these countries?

from my research it is not cause Paypal doesnt want to do it .. it is simply because of the law and legal problems and the complexity of working online in these countries that made these big problems stay out of it.

as in working with the banks in india is not easy also you have to pay a lot of people in bribes etc etc to get things approved and plethora of other reasons besides politics and corruptions and simply policies that are not designed to work with such online payment companies as they fear it promotes a lot of illegal and unaccounted money..
these are just the tip of the ice berg why those big businesses stayed out of these countries.

now what experience do you have to even suggest getting into these markets ?


secondly , you mention the 10k users or members .. what if you are unable to acheive this goal ?

besides I am sure you understand that this is a commission on transaction based business which means you must be handling atleast 50k$ + in transactions to extract any value even if you were makin 1% of it that would barely be 500$ revenue , not including the cost of operation..


how much capital do yu plan to raise ?

and why would the value go high because you reached 10k members and then you claim that something that costs 100 EUR is now worth millions.. can you please explain this phrase why you think it is going to be millions ?
i mean by simple math if you get 10k people investin 100 eur yes you do get 1million.

 

[TheGlobber]

Are you saying that when the community reaches 10,000 investors that the RPU will be valued at $1 or is it 10,000 members?

Or is there no way to join the community for free?

You can join the community for free at any time. Just sign up at the forums.

1 RPU will be valued at $1 as soon as there are 10,000 "investors".

 

[TheGlobber]

This isn't an investment - let's call it what it is a gamble and a bit of shady dealing. Any currency units scheme is. You also seem to have no official paper work for investors, and dont provide the names of the directors.

You've given no solid business plan as far as a cost break down of what you would want to do with investor money, or the steps you plan to take to get there.
r
Also the fact that its an Anguillan company and you never answered Bryanon's question about the domain ownership are going to make investors feel uneasy. If you want real investments for a real company give us real information

Official paper work will be given soon to investors. There are lots of stuff we are taking care of.

I have no obligation to provide the names of the directors except of course mine which i did some posts above.

I replied to Bryanon's question. We do NOT own it. We contacted the owner and havent heard back from him.

As for the incorporation documents they will be posted on the website of the marketplace for all to see.

 

[ben10023]

Thanks for your reply, you seem passionate and intelligent but I just don't see how the market will work.
Supposing you reach 10,050 members, where will the demand for RPUs come from?

Most importantly how do you cash out? I assume you're not offering a withdrawal system to transfer funds to your bank account? Because if you did, the moment it hits 10,050 members, 10,050 people just made a huge hypothetical ROI and will want to cash out at least a portion of their RPUs immediately. There's no way you would be able to fulfill that.

If you don't offer a cash out system, any providers of services or goods (such as hosting) will merely charge the appropriate rate for their services. It's all well and good you enforcing the exchange rate of 1RPU=1$ but the providers will just charge $10,000 for products/services worth $10 because the market will set it's own rate.

Until there is sufficient demand to satisfy the exchange rate of 1RPU = 1$ the market will simply adjust.


Apologies if I haven't understood correctly, but it seems to me you're trying to effectively print money. And you aren't the US federal reserve or the Bank of England, etc.. you have no/little collateral (about $1 mil.)