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As it may have been noticed, CoinFloor now has faster payments also. Everything goes on as planned.
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Don't worry dude, It can be done. I wish more people were supportive on this board and gave word of advice and not make it sound like it could never happen. Apply for a MSB find a company you can umbrella under for your MST's and you will be fine.
The problem is how would he find a company willing to do that? |
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On top of this, if you do the bare minimum to make it look like you made an effort people instantly care less.
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This guy (Scottbit) is either a) Scammer Ryan Gay or b) Friends with Scammer Ryan Gay (most likely a). RiverBoatBTC is not a scammer, but he did expose Mr Gay who raised 150BTC for starting an exchange, bought a 1BTC script and has never spoken to investors. I nominate Mr Gay |
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Already sent in the application, although that is really being handled by CryptoCapital. |
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Its not a scam no really havnt you seen the website, its not like i could get that made for .5 BTC or anything and yeah Robopal is coming!! didnt you know robopal will be here soon and everything will be ok!! Feel free to through some more BTCs at me on cryptostocks, all this work costs money you know!!!!
I think this is a troll post, but just in case it is serious. That is a website clone, and the script is for sale for 1BTC. So yes, it sort of can. (Although not quite 0.5BTC) |
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I don't get it. Why building an exchange on an exchange ?
How do you redeem cash ?
I'm a little confused at to what you mean? We are building an exchange, you deposit/withdraw via bank transfers. I thought it was using a decentralized exchange like XCP because you were talking about XCP. So why are you doing an exchange when you have no chance against big guys ? I don't get it. We use XCP but that's for a different reason than BTC->fiat. We are not directly competing with any 'big guys' as in the UK there aren't any big guys. You have local bitcoins, bittylicious or coin floor. CoinFloor is the only 'exchange' and that has ~25btc volume per day because they don't have UK banking and it is run by a notorious scammer (Nefario). That being said, we will be competing with larger players in the USD/CAD/EUR space in particular. As for how to compete, we will just gain trust over time, and offer the best service possible. |
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I don't get it. Why building an exchange on an exchange ?
How do you redeem cash ?
I'm a little confused at to what you mean? We are building an exchange, you deposit/withdraw via bank transfers. |
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I don't feel like this statement helps your case. You admit that you have no experience running an exchange. I appreciate the honesty, but the fact remains that you are not experienced. You can't expect *reasonable* investors to think that their BTC would be safer in this venture than it would be if it were just sitting in a wallet appreciating in value.
Secondly, those other CEOs without experience lost a lot of investor and/or users' money (whether through outright scamming or just plain negligence). The ones still standing are probably on borrowed time. Pointing to them and saying, 'See? I'm the average' is silly IMO.
Curious, with exception of Second Market, and possibly Circle (still arguable) who does have experience? Managing an exchange in the fiat world is massively different to a bitcoin exchange, seems largely irrelevant. |
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Sorry, I missed it. Thanks.
No problem. So, for now, jadefalke is leading with .03BTC offer. Anyone offering more?  I dont think many people will offer much because most people want to hosts sites and its a hassle switching servers every month. Well it's good for mining, you can make some profit. This processor can mine with 8 threads. Yeah, I guess... 0.04 You will mine about 8 satoshis with that. |
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Fair enough.
As far as proof of experience, it seems that you may have to post some personal information in order to keep things on the level. Is there any websites or 3rd party sources that can verify the experience? Certificates or degrees?
Pretty irrelevant, not many people have the experience. Hell CEO of Bitstamp/Kraken/etc don't have experience. As for crypto capital I don't recognize that address but that is not the only license they hold. Also registered with SWIFT (among other things) |
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No, it doesn't. If you are running a spread trading bot it just does, just that. tightens the spread.
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No, providing volume is not faking volume. It is running your own trading bots with 0 fee trading to reduce the spread. That is fine to do. In fact, a very positive thing for all users.
You should not be trading on your own exchange You should not be trading on your own exchange if you are giving your trades priority over others, manipulating the markets or doing anything else shady. I would like to welcome you to point out how providing liquidity and reducing the spread in a market harms its users. We're not talking about ghost orders, or orders not backed by funds but genuine orders to beef up the order books and reduce the spread. |
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No, providing volume is not faking volume. It is running your own trading bots with 0 fee trading to reduce the spread. That is fine to do. In fact, a very positive thing for all users.
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With enough capital you can supply volume, then if you have lets say 10 buyers you can get a considerable amount of traffic just from signatures on the forum.
You just have to excel where others fail, so for example implement full cryptographic proof of reserves on all coins, as well as multi sig cold storage. Provide good customer support (live chat isn't being done on many alt coin exchanges).
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I'm just going to put it out there once again, with the right management you could easily become the next mintpal/cryptsy whatever with this. Its really just about what you can do as support/admin.
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One thing to consider which im sure many of you haven't, what if the exchange gets hacked and a lot of funds go missing?
All those that join the group buy could be joint liable for the missing funds.
Wouldn't be the first or last time its happened.
1) You're not liable 2) Raise enough funds for a security audit of the code, and servers. As well as a crowdcurity campaign. |
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Do you have a web link for them? I can not find anything on them.
Cryptocapital.co |
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