Bitcoin Forum

my idea is,
Simple: 
for exanple: 
You pay btc eth or ltc.
and I Give You coins like:  doge, or Other cheap ones.

or I Can Exchange your cheap coins to btc/eth/ltc.

IF I do Some coins with GOOD rate would You be interested?


I Think its much Better coz of no kyc.
is any demand for this Kind of Service?


Thanks !

I Waiting for Ur comments or any suggestions.

perhaps u Think that Kind of Private coin swap Service Not needed.. since all exchangers like polo Can sadisfy enough your coin needs.
then let me Know!

Thanks!

So, basically the same as ShapeShift, Changelly, Flyp.me, Coinswitch, etc...?

Unless you innovate and create something completely new and give way better rates than the competitors, I don't see your project gaining any traction.

YES but they requires kyc procedure, I Think.. and Some of them I hardly Trust.
I never used them.

thanks,  You see that Kind of answers I like it.
IF Every newbies Will do Same like I do that Before they make Some time waisting moves.. they ASK Around Opinions and suggestions!

Thanks!!

I would be interested to see an exchange with no central organisation. I know there are few like IDEX and others but they all are dealing with ETH tokens if I am not wrong.

This doesnt seem like a service people would want, unless it is automatic with high liquidity. If you had high liquidity governments would be looking to shut you down.

I Think the only way to declare high crypto earning profits is to set Up your own crypto Exchange like Fiat to crypto and crypto to Fiat.
exchangers who Got GOOD exchanging rates they have allready good crypto earnings and to set Up as exchanger its just the best way for them to legimate earn crypto income and Not Going Against any Government Rules or regulations.

this is what I Think!

Same will goes on your future project with the same feature, "trust" concerns. Even with a good rates, people will still preferred to used the ones who is already known for that service.

Most people like the idea of no-KYC procedure on an "instant trade" system but it doesn't mean they will just used a service of a new site that quick.

But everything start as a small and not popular. Well then if you able to pull out "something good" that will able to solved the trust concern then just proceed and test the waters.

There is a demand for that, but as harizen mentioned, you'll face trust issues. With the recent hacks on various exchanges, exit scams from ICOs, even abandoned exchange/DEX it is quite difficult for most people to blindly trust any new exchange even though they promised to provide instant liquidity. You might be able to do this if you can provide a smart contract. It should be able to receive/detects transactions from various blockchain and in turn send back what the sender should receive, or in other words, atomic swap.

Other solution would be to make a multisig address where you and someone trusted operate the exchanges, but this won't provide instant liquidity as it requires you to sign manually afaik. On top of that, you should address regulatory issues too. If you have high liquidity, there is a possibility that government will 'track' you down and requires you to follow the regulations for exchanges, unless you live in a no man's land.

it can be automated like any other operation. it is just a matter of creating a public key and sharing it with the user so that you can both create a 2 of 2 multi signature address. but there are other problems with this design which is fraud like what if the user or the site refuses to sign the second part of the transaction after they received the payment?

saying that makes me think of Lightning Network and Atomic Swaps. if OP can implement THAT, then there would be interest in it. otherwise there already are trusted services that do exactly what he described in OP.

So what is difference between your "service" and that being provided by some legit traders in the "Currency Exchange" section?

Rate is having a less priority. Trust has more priority. Why would I trust you and send you my coins?

Irrelevant if there is no method to trust the parties involved. Do you even intend to use an escrow intermediary?

The demand is always there if you know how to generate it and how to catch on current trends to gather people. But nobody would trust you with their money just like that.

i Guess You try the service and IF You Not Happy You just Move on.
why You Trust websites like shapeshift?
First You tried,  Trust is always problem

Look, it's definitely possible to create another one of these instant exchange services.
People will probably use it if there's no KYC.

The real question is, do you have what it takes to build one?
Do you have enough capital to fund the development and security audit?

Aside from that, do you have enough funds to provide for the exchanges?

I might create ico to accure enough Capital :)
That's how the Projects started.
it just takes Courage and Faith.
but IF You can add Something Good and useful for Other humens Everyday lifes.
then You have created value ,  the Question isa how big is that demand?
most projects falled couse of Not enough interests from
Other Question is Will People have enough Faith?
IF Only creator have Faith and Hope thats Not enough

Why would I try a service which I dont trust in the first place? ::) Would you like to go to your local grocery shop even if know that the person is a scam artist?

Who said I trust them?

Its not my problem princess. You have to show that your service is trustworthy then only people will try it. Its your idea so you have to defend it. :D

Hmm, consider me skeptical.

How will you create this ICO? Not to be rude or anything, but your English isn't really good enough to create a decent enough whitepaper.
If you want to create an ICO, you also need to hire people for that. The cost of that would probably be in the range of just setting up the exchange itself.

Besides, creating an ICO for yet another exchange. I doubt that many people would be interested in that.
If you don't have a budget, just forget about this idea. You won't be able to do an ICO anyway.

I've deeply considered creating such a site to the likes of ShapeShift/Changelly, (but with no random KYC checks et al).

However if you want this to be successful, as others have already mentioned, you'll need to offer Low fees -> Capital/No KYC -> Capital/Trustworthiness -> Capital/.

Considering the fact that the above exchanges are subject to KYC, you have to realize that they do this due to regulations/feds panting in their neck. (They wouldn't implement KYC if they weren't 100% required to.)

You'll probably need some really good lawyers and an offshore company hosted in the middle of nowhere to be safe from them.
(Which again, is probably going to cost a lot of $$$, something you don't seem to have.), and due to the greyness of the business model, i wouldn't expect many banks signing off a loan on this idea either.



Sorry, but if this is your idea of creating capital for your business then you're just plain delusional. You won't get a penny from your ICO.

Check my previous reply. He will not even be able to create an ICO for this.
He obviously can't create it himself, so just setting everything up will cost more money than he can spend.

Sure, he could go look for volunteers, but who would want to work with someone who can't even format a proper sentence in English?

OP, I think the best sort of investment for you is to invest in your own education.
Everything starts with being able to communicate, get enrolled in some English classes asap!

Again, not trying to be a dick, just giving you some very hard truth here.

I Can find for 50$-100$ English Professional translation That's Not problem.
do You really Think someone who Want to earn money Can't hire just translator?
we all have Strong sides and weak sides.
someone is Good in Something and someone else is Good with Something else.
my Strong side is business.

Here we go... Why so much negativity?  we all should be More Happy and positive.
we need More great vibes:)

If you are going to operate it locally then its good. I will suggest start local and dream global. You will help local community grow. I have just posted this you should take a look. https://bitcointalk.org/index.php?topic=5099266 (https://bitcointalk.org/index.php?topic=5099266).

This is a good idea to first stay with the friends and relatives . This will help OP to get suggestion and feedback on the pints of improvement as well . Thus those friends etc will help them to do the mouth publicity and once OP has some decent number of clients then can start website and cater to the forum members as well. This will give confidence to other users when they see the past , read reviews and help them building that trust factor as well.

I mean don't take it negatively though, remember this is a community and everyone is just voicing their opinion and I do hope you just take them as constructive criticism. And you're really focus and ready to go then build one, easy as that. Just remember that this kind of ventures might take more effort and money on your end as initially though. Also keep in mind that you might not get traction from this forum in the beginning, unless we proved that we can really trust you. I'll give you one member who created such projects here: (https://bitcointalk.org/index.php?topic=5077870.msg48413702#msg48413702).

I'm not sure this is particularly useful, especially in the current market.
You want to do something that will add value and liquidity of dying coins is not the best way to do that at the moment.

Of course there is demand, without doubts, some people even deposit on bitcoin casinos, exchange coins and then withdraw (which is against laws). There are comments like you need offshore companies and so on, there is no need of company, you can do it like mixers exist. Gain of trustworthy is most difficult task but that's your problem. Also there are some good non KYC similar services so what about to offer something different? For example exchange tokens of some ICOs in btc if user wants to get invested money back but can't because coin isn't exchangeable at the moment?

First of all, I do not find KYC that difficult or time-consuming

Secondly, your service require a lot of trust (identity, awareness... etc)

Trust would be really the main issue here and same as usual with other similar services and newer projects as well.If it can be proven out then
he might get the marketshare.The idea was just basically like where shapeshift and other sites usage.If rates were good then the people would make the full decision if they would
try it out or not.


Its not really difficult to comply documentations as long you do have those but the thing will really put you into hesitation is on how you do trust those
who do keep your personal data.