Bitcoin Forum

Here I read Sunny Ray is involved in Unocoin Project - http://bitcoinmagazine.com/7569/a-booming-bitcoin-community-in-india/

Here I read Sunny Ray is the Director of Business Development for Buttercoin - http://www.nextbigwhat.com/buttercoin-bitcoin-exchange-in-india-297/


So I have 2 questions...

1. Is it the same person ?

If the answer is Yes,

2. Does unocoin run on buttercoin ?

Is the same person and no

Are CoinMonk and UnoCoin same and Sathvik Vishwanath is a partner of Sunny Ray ?

Yep. Sunny is a Joint Director of coinmonk and unobit solutions. unobit has madovercoins and Bitpay in its portfolio and coinmonk has shares, unocoin, etc.
I remember that the domains were all registered by Sunny in 2012/13. I believe that most of his domains now point towards unocoin.com

Helpful to understand, thanks

Whoa bitpay as in the global bitcoin processor ? Sunny ray has a stake in that ?

bump

Yes the same bitpay. Not the stake but involved in the process to convert bitcoin to INR and pay to merchant on behalf of bitpay.

So he works for bitpay as an employee ? Or does the process of converting involve some other company in the middle which he own/has a stake in ?

Bitpay do not hire such processing people as employees even though they get a contract signed. Out of 1% bitpay charges for the ending merchant, 0.5% is retained by bitpay and the remaining 99.5% is paid to such processers in bitcoin. now it is the duty of processer to convert it into INR and pay the 99% to merchant bank account and retain the 0.5% as fee for his service. This is what i know from various sources - may not be fully accurate.

Oh ok thanks a lot ... makes it much more clear :D

https://i.imgur.com/wxLSSjk.png (https://i.imgur.com/wxLSSjk.png)

Thanks Benson .. a help as always . Appreciate it (although I was wondering earlier if all the bumping was going unheeded lol). Thanks bro.

So Bitcoins are coming from Bitpay to UnoCoin, getting converted into INR, and being paid off to the merchant. On the other hand people are buying those bitcoins directly from UnoCoin against INR. Is this how it operates Sattik ?

sunny is involved in processing the bitpay payments since an year i guess.
No those payments do not come to Unocoin. It will happen on its own channel for which i do not know the details.
It is not profitable to do it on Unocoin as transaction fee on unocoin is 3% by itself.

Just to clarify, I (Sunny) have been 100% focused on Buttercoin since November 2013.

We are working towards launching in North America first.

To sign up for early access, visit www.buttercoin.com (http://www.buttercoin.com)

What happened to infonetenergy (https://bitcointalk.org/index.php?action=profile;u=70511) ?

love the way btc graph is used, devil is in the details  :)

www.sunny-ray.com (http://www.sunny-ray.com) happened to infonetenergy....

for those who are really interested in learning more, here is a link to my profile:  http://bit.ly/1xg2zz9 (http://bit.ly/1xg2zz9)