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Title: How to start bitcoin exchange ? Post by: arshidkv12 on May 15, 2015, 05:42:56 PM Hi,
How to start bitcoin exchange in India ? Title: Re: How to start bitcoin exchange ? Post by: skang on May 15, 2015, 07:07:29 PM What do you want to know specifically?
Bitcoin Exchange : (Definition) A market where bitcoin is sold and bought. You can start doing this with a notebook and pen while taking care of the risks. Title: Re: How to start bitcoin exchange ? Post by: arshidkv12 on May 16, 2015, 03:36:19 AM Thanks for your reply..
What are risks ? Title: Re: How to start bitcoin exchange ? Post by: skang on May 17, 2015, 02:09:41 AM Think of it that you are a market of dollars. What are the possible risks if you start selling/buying dollars?
I could lay out a list of possible risks but it would be non-exhaustive. My suggestion would be: First, study the reason behind the exchanges that closed down. Then, once you have implemented measures to averse those, talk to the current exchanges. Start with the research paper: "Empirical Analysis of Bitcoin-Exchange Risk" by Tyler Moore and Nicolas Christin. It studies the cause behind closing down of all exchanges [around 40] till January 2013. Title: Re: How to start bitcoin exchange ? Post by: BTCIndia on June 16, 2015, 10:09:01 AM 1. Create a website with price ticker of Bitcoin.
2. Manage some regular traffic. 3. Register a company with brand name that makes customer feel secure. 4. Find wealthy investor interested in Bitcoin. 5. Give him handsome share and prestigious post. 6. With money, hire or gather a team for website development. 7. Self-develop or buy trade engine algorithm depending on your caliber, money available or understanding of exchange. 8. Befriend some legal counsel or engage them for you. 9. Plan irrelevant AML/KYC policy and boast about it. 10. Launch it in beta version and create a hoopla about trademarks. 11. Approach VCs with sponsored pamphlet. Now, you're proud founder and owner of exchange which does nothing more than ineffective price discover. Congratulations! Hope, I gave you same valuable inputs. Trust me, I've seen exchange being established this way. Title: Re: How to start bitcoin exchange ? Post by: Benson Samuel on June 16, 2015, 11:25:25 AM 1. Create a website with price ticker of Bitcoin. 2. Manage some regular traffic. 3. Register a company with brand name that makes customer feel secure. 4. Find wealthy investor interested in Bitcoin. 5. Give him handsome share and prestigious post. 6. With money, hire or gather a team for website development. 7. Self-develop or buy trade engine algorithm depending on your caliber, money available or understanding of exchange. 8. Befriend some legal counsel or engage them for you. 9. Plan irrelevant AML/KYC policy and boast about it. 10. Launch it in beta version and create a hoopla about it with trademarks. 11. Approach VCs. Now, you're proud founder and owner of exchange which does nothing more than ineffective price discover. Congratulations! Hope, I gave you same valuable inputs. Trust me, I've seen exchange being established this way. This post has been reported by 2 people for trolling. I will be marking both as Handled. I will allow it as it does allow an insight as to how misleading mechanics can work a business... OP failed to mention that there is a passion, understanding, defend ability and a long term sustenance factor involved. Title: Re: How to start bitcoin exchange ? Post by: skang on June 16, 2015, 11:27:38 AM Hey troll BTCINdia,
None of those points have anything wrong but only your tone. Do we smell the burn? *** People, please report troll posts that add nothing to discussion, unless you don't care about the sub. |