The objective of creating EpikBucks is to create a medium of exchange to enable transactions that would otherwise not get done, or would be considered taxable events subject to capital gains taxes. Deals are getting done using EpikBucks as a medium of exchange. So, the obvious question then is how to convert EpikBucks to CASH. As one would expect in an efficient market, a solution emerges for that as well.
Earlier today, Kenny Hartog asked me if he could buy in EpikBucks from people who get them. Yes, of course. So, for folks who have received newly-minted EpikBucks, there are buyers like Kenny who would otherwise be using cash to pay for services or domain purchases. You can contract with these individuals directly to work out the exchange rate. For small transactions, I expect it to be 85 cents on the dollar, and for larger transactions, 90 cents on the dollar. Win-win.
Once the transaction has been confirmed by buyer and seller, EpikBucks a free transfer is done from the seller’s EpikBucks account to the buyer’s account. For folks looking for a cash exit from an EpikBucks position, we’ll do our best to facilitate a transaction and create a liquid market for buyer and seller. That being said, for anyone holding EpikBucks, my advice is to hold onto your EpikBucks until at least September 17 — the day of SwapFest!
And for anyone wondering if Kenny is off his rocker, Kenny shared this screen shot of Kenny’s daily traffic. The percentages were the % increases versus the day before – Monday vs. Sunday. Of course, not every day is going to rack up 1, 2 and 3 digit percentage increases. That would be statistically impossible. What is important is that Kenny is reporting a whole lot of upticks. In statistical terms, that would be very real growth, and not statistical noise.
These sites are making the jump from pages 3 to 10+ on the search engines, to mostly page 2. A site like IceCreamMaker.com, which is #1 on page 1 of Google, will book 350-500 organic visits per DAY. So, what you are seeing in the above screen shot is the start of exponential growth that we typically see between days 60 and 150. This S-curve organic growth pattern is also described here. Kenny will be at Epik DevCon next week. He is reachable at kentog@gmail.com.
Thanks Kenny for the great idea, and Rob for making it work. At the indicative rates noted above I would also be a buyer of e-bucks. Wonder if there is an order matching system that can be set up as they do on the exchanges. That is to say, I’d bid x amount at .90, y amount at .89, etc…. Sellers can submit likewise, and Epik could post bids and offers for takers or internally cross match.
Cheers All.
@Steve – Thanks. We’ll be working on the market. In the meantime, I am happy to play the role of matchmaker until we have automated the workflow for matching buyer and seller.
Thanks Rob for a successful Epik bucks transaction. I’m now in a position to move forward with more Epik product portals.
Nameclerk, I agree 100%. Rob is readily available to get a deal done for a win/win solution.
Rob, thanks for today too.