Crypto for DUMMIES

Crypto for DUMMIES

Well I just jumped into Cryptocurrency (pretty late in the game but there is always a second opportunity) and blockchain after talking w/ few of my friends. Here is my experience with digital currency and how to contribute/distribute cryptocurrencies. This blog is solely based on my experience and is not compliant with any legal digital exchange(s) 🙂

What is cryptocurrency: Designed as an exchange that uses crypto algorithm to secure its transactions. Bitcoin (BTC) was the 1st decentralized cryptocurrency developed and since then there has been a bunch of them in the market. It is a limited entry in a database.

In layman terms, Blockchain provider open decentralized database of every transaction involving money. In future it can be use to pay taxes, transfer money within seconds, and financial fraud will reduce as all the public transaction will be recorded on public ledger.

Every transaction which takes place on a network is a file that consists of the sender’s and recipient’s public keys and the amount of coins transferred. The transaction also needs to be signed off by the sender with their private key.

Cryptocurrency wallets- Wallets are software programs that store your public and private keys and interface with various blockchain so users can monitor their balance and do monetary transactions.

My favorite Cryptocurrency/Tokens:

Ether (ETH) : Ethereum is a decentralized platform for applications. With ethereum, servers are replaced by nodes run by people across the continent. A team developed CryptoKitties and people have started buying CryptoKitties on Ether blockchain. I feel there is more to come and price will reach north of $1000.

Ripple: XRP enables banks to settle cross-border payments in real time, with end-to-end transparency.  XRP has jumped a lot with new link to some Japanese credit card companies. XRP has jumped roughly 28,000% in FY 2017. Expecting XRP to reach $5 by end of 2018 😀

There are smaller cryptocurrencies that might have a promising future return for investors. Promising altcoins includes Litecoin (LTC), Stellar (XLM),  Cardano (ADA), TRON and IOTA.

How to start: 

Coinbase: A user friendly interface to start buying/selling bitcoin, litecoin, ether and bitcoin cash. Other crypto and tokens are not yet supported on coinbase. You can buy thru your checking/savings account or credit card. Credit Card transaction usually takes around 2-3 hours for a purchase but there is transaction fees charged on it. Coinbase is a user friendly interface to get started.

Referral link:

If you want to save the transaction fee then you can use GDAX to transaction your crypto currency to other interface.

Gdax is a digital exchange coinbase interface-

Bitstamp: A good interface to buy Ripple (XRP). You can buy XRP using other cryptocurrency and USD. You can also wire transfer or use credit card to purchase XRP. While buying thru credit card make sure that the card is eligible for international transactions and that you are enrolled to the 3D Secure program.

Binance:  One-stop services of digital assets. I like binance because of the fact that you can limit order or market order on binance which is not available on coinbase nor bitstamp-

There are few cryptocurrency trading bots available in the market which  fully automate your currencies  by trading robots running 24/7. I have not yet used crypto robo advisor.

There are few Cryptocurrency hardware wallet in market as well. These are basically hardware wallet for securing digital payments. Few hardware wallets- Ledger Nano S Cryptocurrency Hardware Wallet, KeepKey: the Simple Cryptocurrency Hardware Wallet

UNCLE SAM!! Don’t forget to pay taxed on virtual currency. More at

Future: Personally I like the fact that oBike from Singapore are launching oCoing tied to TRON (entertainment ecosystem) token. Bikers will be receiving the oCoins by riding the bike. I am also doing my homework on the use case of health incentives where swashbucklers can earn coins for hiking, biking, skiing and running. They can earn this new coin if they doing any health related activities and it can be integrated to corporate companies as well to generate rewards. Please contact me if you are a developer and interested in this use case 🙂

Useful Links: 

# Well Google is your friend 🙂

# Check the market cap and circulating supply:

# Coin prediction: 

# Great forum for digital currency discussion:

# Search the blockchain:

# Crypto described in 4 words:

# iPhone/Driod apps: HODL, Coincap, BTCNews, StickTwits


Gracias and lets watch the volatility of cryptocurrency market in 2018. Please navigate to contact us page and use any social media to get in touch with me to discuss this trending topic.

Published: December 31, 2017

South Asian Daily Deals

These days you know about one more model which is “Deal of the Day”. Now before going out of home you check for the deals through N number of sites online. Apart from daily deal you can also get the real time deals available thru Groupon. Companies in this market are going more real time and planning to come up with the real time deals based upon the customer’s interest, customer volume at particular time and even on the customer’s interest based on the season….

In this volatile economy when you think about your daily expenses you are pretty surprised with the daily activities going on and you think “Is $15 worth for this deal?”. With the recent economy turmoil the question of “is this item worth the value” has become even more important and the recent success of daily deal sites like Groupon, LivingSocial, and BuyWithMe can be attributed to this phenomena.

When a vendor thinks about the competitive market one think which comes into their mind is “How to get new customers?”
Answer seems to be “Daily Deal Model”.

These daily deals companies collects personal information from willing consumers and then only contacts those consumers, primarily by emails, face book etc. Then they breaks into new markets by identifying successful local businesses, first by sending their employees to research the local market; when it finds a business with outstanding reviews, salespeople approach it and explain the model, and use social marketing sites such as Face book, Twitter to further promote the idea.

Well these daily deals model took over the traditional advertisement in which vendor does not have to pay any upfront cost to participate and using this model they will get a whole lot of customers on their door which they might not get with the traditional marketing. But again a key point “No guarantees if they will ever come back, but they will come at least once.”

According to one of the Mr. Agarwal’s blog:

Merchants need to know two key numbers-

1) The proportion of Groupon customers who are already their customers

2) How often new customers come back.

The higher the first number, the worse their deal will perform. The higher the second number, the better their deal does.

Statistics of Daily Deal Model:

According to a survey done by Prof. Utpal from Rice University- In a survey-based study of 324 businesses that conducted a daily deal promotion between August 2009 and March 2011, 55.5% of businesses reported making money, 26.6% lost money and 17.9% broke even on their promotions. Although close to 80% of deal users were new customers, significantly fewer users spent beyond the deal’s value or returned to purchase at full price. 48.1% of businesses indicated they would run another daily deal promotion, 19.8% said they would not, and 32.1% said they were uncertain.

This industry is a hotbed of investment and there is not doubt that along with the Groupon filling an IPO, Facebook, Living Social, and Google have already launched the daily deals eComm websites and many start ups continue to be launch their will be a time when the businesses all over the US will be making decision whether to run their promotion or not and if yes, then with which deal’s site they should go on.

On the contrary great analysis has been done over the sustainability of this model and this model came under a lot more scrutiny after the intended Groupon IPO filing. Some of the analysis revolves around the financial numbers –
1) The sequential growth rate that has been projected
2) Explosive growth of the employee base
3) Gift card liability on the books
4) Customer acquisition and retaining costs

Agarwal’s Blog has links to a bunch of articles that dissects this model. But for now this industry is a hotbed of investments. We are seeing plethora of other players like Facebook, Living Social, and Google have already launched the daily deals websites and many other startups continue to launch. Now time will tell whether the social buying phenomenon are another social fad or is this model is here for people to adopt and adapt.

Growth of this model:

This business model was made popular by Groupon that started its operations in Chicago around 2007 and with other players jumping onto the bandwagon. The beauty of this model is that one can start operations with less than 2k in investment – a website and couple of hours of free time every evening to go around local businesses to procure deals. This led to mushrooming of sites across the world and spawned another industry all together – deal aggregators which include Yipit, Deal Nation, Dealery etc. As for the recent mark there are over 400+ sites that are listed on Yipit and many more coming up daily. Most of these sites cater to local sites but there are quite a few others which are specific to a particular need like the site that offers deals on garden needs, a particular community like Jewpon (targeting Jews in NY & other cities), or sites like Mamapedia targeting moms.

Well these days I came across the name from many of my South Asian friends and UTDallas folks “DesiSauda” and here is some of the analysis done on desi sauda:

DesiSauda came up with an idea to bargain deals from South Asian catered establishments. They bargain with the South Asian community and get the best deals for our customers. “Desi” typically refers to Diasporic, from the Greek word Diaspora, which means scattering, dispersion of people from ancestral homeland subcultures of South Asians. “Sauda” in Hindi refers to bargains. Combining these two words brings the essence of this organization – bring deals to you that matter the most.

DesiSauda is social buying site that offers deals from South Asian establishments targeted at South Asian and other communities. Once they establish the brand they start approaching other businesses that South Asian’s frequent. A South Asian is a person from one of these countries – India, Pakistan, Sri Lanka, Bangladesh, Nepal or Maldives. As per US Census Community Survey the number of South Asians in US is around 2.8M with 70% of this population between the ages of 17 to 64 years. South Asians are concentrated in certain cities around US – for example in the NY region (including PA, NJ & Connecticut) there are around 600,000 South Asians followed by Bay Area in California with the most South Asian population. Once established they would expand the operations to other countries where there is notable South Asian community – UK (4.2M), Canada (2.1M)

As it is pretty transparent that many deals portals are available in the market with the brand name such as Groupon, Living Social, FB deals Google deals etc. What can be the reason behind Desi Sauda to start as a niche and give a competition to Groupon and living social? Well Desi Sauda team should have definitely thought about it before starting the venture that even though after having companies who have million of subscribers already registered with them then why would the customers come to Desi Sauda and why the small businesses would give deal to them? Well you will find the competitions every where and its not about giving competition to Groupon and other companies. Desi Sauda came up with a different mind set keeping South Asians in mind. Being from South Asia, the CEO of the company thinks that you won’t get many South Asian deals available in market and that’s why we are here. Completed his MS and MBA from top schools in US, the founder of the company while doing this MS used to think twice before spending 15 bucks on a South Indian menu. Top of his mind used to say why I can’t get the food in 50% off so I can save some money and today is the day, when you go on their website you will find exciting deals from South Asian’s market which is keeping the customers really happy.

About DesiSauda Business Model:

With the growing market of South Asian’s in South West region we thought of getting the deals from South Asian market in Dallas. DesiSauda also thought of getting the deals from new business which don’t have existing connections in the market and thus help them introduce them to the local community. We work with the business to understand them, their customer profile and how they like to expand the business. We then create a campaign by working with the business that gives them the best bang for the buck, which includes the min and max number of deals they want to sell.

Each deal has a different tipping point. Once a deal is tipped, customer will receive an email with your coupon to print. The email will provide instructions about using the coupon. If the deal is not tipped then the customer gets the amount bank into their account.

Published: September 16, 2011

Key to Startup Success

These points are collected from different articles posted on Mashable, TechCrunch, etc. and after reading different articles I am coming up with one common repository.

Entrepreneurs planning to start and work on new ideas shall focus on few key points described below:

Tips for Startups:
1) As an Entrepreneur you should not think my friends is starting a company shall I also start my company? I don’t have any work other work to do shall I start my company? What should I start so that I become billionaire in few months? Things just don’t happen in few days. You can’t become a billionaire in a minute. If you think you will have profits then you have to consider the loss factor also. Think about something that fascinates you. Come you with the idea, Plan and the vision.

2) Focus on the idea: Come one with the idea and focus on the idea. The idea should give you the answer for “Why will the people use this product?” If you are coming up with the common idea than ask yourself “Why will the people use your products if N number of products are in the market?” Google, Facebook, Twitter didn’t exactly started with a food of plate ready.

3) Discuss the idea, issues, and scope: Discuss the idea with the entrepreneurs with whom you are working with. Form the team that will support the product until success. Discuss the scope of the idea. Try to come up with the solution approach for it. Ask the team that why the customer will be interested in our product. How will it benefit to the customer purchasing the product. How can we give customer support after launching the products? Don’t neglect the service that will be given to customer after the product is live.

4) Meetings: Try to organize meeting with the team everyday. Team should be open to discuss all the key points. Try to follow SCRUM methodology. Discuss the issue which can come in future and come up with the approach everyday. Divide the project into sprints and come up with the progress of the project and future plans.

Published: October 28, 2010