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1  Economy / Trading Discussion / Re: 100 Pre-Beta Invites - New Secure Multi-Currency Exchange on: July 14, 2011, 09:48:13 PM
Hi Chad,

you are mentioning that you already built internet banking systems / trading systems - are there any refences one can check except GoAruna?

Thanks,

sonba

Sure.  I was the head of e-business for the EMEA region for the Citigroup Private Bank where my team built the first Internet bank for HNWI in the private bank.  I was there from 1998-2002.
2  Economy / Trading Discussion / Re: 100 Pre-Beta Invites - New Secure Multi-Currency Exchange on: July 12, 2011, 07:47:24 AM
We have some more invites available, just email your details as per the first post.. we are looking forward to your feedback.
3  Economy / Trading Discussion / Re: 100 Pre-Beta Invites - New Secure Multi-Currency Exchange on: July 11, 2011, 03:54:21 PM
First batch of invites sent out.  More to come over the next 24 hours.  
4  Economy / Trading Discussion / Re: 100 Pre-Beta Invites - New Secure Multi-Currency Exchange on: July 11, 2011, 01:38:27 AM
do you mind sharing who is the 3rd party that does security scanning?

Sure.  Trust Guard.
5  Bitcoin / Bitcoin Discussion / Re: How the banks will own Bitcoin® on: July 11, 2011, 01:20:42 AM
You have an interesting question but why would a big bank need Bitcoin principals?  Why would they need a blockchain?

They could just create Citicoin in their databases around the world.  No need for bitcoin or a blockchain for them to create a virtual currency. 

Unless I am missing something? 
6  Economy / Trading Discussion / Re: 100 Pre-Beta Invites - New Secure Multi-Currency Exchange on: July 11, 2011, 01:05:56 AM
What are you guys like for EU withdraws/deposits? Support for SEPA?

We are working on getting our SEPA transfers in place.  We won't have them day 1 but we will have it.

To start, we will have wire transfers and your EUR will stay in EUR (as well as with other currencies).  Our wire fees are $10 / wire (IN) and $25/wire (OUT), basically covering what our bank charges us.

BTC can go directly in and out with any BTC address.
7  Economy / Trading Discussion / 100 Pre-Beta Invites - New Secure Multi-Currency Exchange on: July 11, 2011, 12:43:01 AM
We want to offer a few people in the community early access to check out the newest Bitcoin exchange.  We are already trading live now with a select group and we now have 100 invites available for our pre-beta.  

There will be more details once we make an official public announcement but here is what we can tell you now

- Security is a priority, we are PCI compliant, have 3rd party security scanning and we will have two factor authentication before launch (Yubikey)
- We have the first Namecoin vs USD market and first Bitcoin and Namecoin markets in the same exchange
- Multi-currency (deposits and trading)
- Our team has experience building Internet banking and trading systems for large banks
- These 100 pre-beta users will get one of USD, BTC or NMC to start trading with (you can keep it)

For an invite, please send the following info to beta@ruxum.com

- your bitcoin.org forum profile page link
- the email address you want to sign up with

We are very excited to serve everyone and the whole Bitcoin community but for now it is limited access unfortunately.  More soon.

Chad
8  Other / Meta / Re: PM spam on: July 10, 2011, 11:15:30 PM


We hand selected some people from this forum who we thought would be interested (for example, namecoin users and a few sr. forum users) and then send private messages to ask if they want to be involved in our private beta. 

We are not spamming.  We are a real company and this is a genuine beta program.  Admins please re-enable our account entitled Ruxum.

Thanks
9  Bitcoin / Mining / Radical new AMD GPUs in development on: July 09, 2011, 06:59:40 AM
thoughts?

http://www.theregister.co.uk/2011/07/07/amd_graphics_core_next/
10  Bitcoin / Bitcoin Discussion / Re: german law in the making; e-money, money laundering, no anonymous transactions on: June 29, 2011, 10:07:08 AM
Here is the text from google translate (it kept resetting and giving an error making it hard to read)..



"The Federal Government has its " bill to improve the prevention of money laundering transmitted "(PDF file) of the Federal Council. This is a draft until 8 July comment. Apart from reducing Bareinzahlungsgrenze from 15,000 to 1,000 € and the introduction of a money laundering officer for all businesses with more than nine employees, it includes a provision to "electronic money": When exchanging euros into e-money must continue the depositor will be verified. This arrangement eliminates the possibility of prepaid cards as paysafecard deposit money can be paid anonymously, with some fee-based anonymization services on the Internet.

Anzeige

The optimization of the money laundering prevention is to have a strong impact in early 2012. This is an obligation to report certain financial transactions, expanded considerably. Accountants, lawyers and notaries are required to report suspicious transactions as well, such as car dealers, when the "politically exposed persons" and their families make a deal. For example, buys the wife of a foreign diplomat is a car, the dealer obliged to report it.

Determining whether a buyer is part of the perimeter of the "politically exposed persons" holding, the German Industry and Commerce (DIHK) is unreasonable . "Unlike banks, which have developed here a number of separate databases and internal exchange systems, a small business is simply not able to identify politically exposed persons, in practice," tells the DIHK. Also, foreign customers or contractors are not put under general suspicion in the future. Oblige companies with more than nine employees to appoint a money laundering officer and train all employees in regard to money laundering, for many of them would be a costly affair.

With "e-cash" payment systems such as the EU-developed system of research funds are paysafecard to buy digital goods as intended. This credit can be purchased at a retail outlet, which paid for the Internet if the retailer accepts Paysafe. In future, point of sale such as dealers take over the customer's identification and hold for a possible audit. Unlike the cash deposit to accounts of third parties, which from 1000 € (previously € 15,000) are subject to reporting, there is no minimum for e-money limit. If it would, one could no longer be paid anonymously on the Internet. In addition to the aforementioned fee anonymizers this applies, for example, users who use the paysafecard in the Sony Playstation Network, and therefore the least affected by the recent data losses were.

Paysafecard himself sees the optimization of the Money Laundering Act relative left: The company is actively involved in the legislative process and is preparing to implement any necessary organizational and technical product changes. The draft will not occur before the start in 2012, there was therefore no need for action now. Heise "We are now convinced, even in 2012 to operate the business model Paysafecard active and successful in Germany," spokeswoman Daniela Paysafecard Kazmaier told online. (Detlef Borchers) / ( anw )""

11  Economy / Marketplace / Mods - new Sub-forum request on: June 27, 2011, 01:15:58 AM
Can we please have a new sub-forum for all of the games, pyramid schemes, lottos and other gambling games.

The marketplace forum is a mess now and littered with these games.   It  should be a place for regular businesses and reputable deals to take place. 

Just my two (bitcoin) cents...
12  Economy / Trading Discussion / Re: Eliminating Arbitrage on: June 26, 2011, 10:11:41 PM
Cool app but I am not quite sure why there needs to be a pointed effort to eliminate arbitrage.  It will happen on it's own when traders see and take advantage of arbitrage opportunities in the market.  

Maybe you should market your app to "make money from Bitcoin arbitrage opportunities between markets".  That would make more sense to me.  

Good luck!
13  Bitcoin / Bitcoin Discussion / Re: Stabilize the price of bitcoin by gold on: June 26, 2011, 09:55:55 PM
The only way bitcoins gonna stabilize is with high day volume trading and high $/btc ratios all linked to e-commerce.

Bingo. 

- get more traders buying and selling bigger volumes of BTC
- get more real businesses accepting and using btc around the world
14  Economy / Trading Discussion / Re: How to daytrade? on: June 26, 2011, 07:12:52 AM
Just jump into the fire and start, that is the best way to learn. 

Deposit $100 (or whatever you can afford to lose) and try it out. 

If you like it then spend more time to become a student and eventually a master..
15  Bitcoin / Bitcoin Discussion / Re: Increasing difficulty - Bitcoin or Namecoin mining on: June 24, 2011, 09:57:12 AM
Dunno guys, but keep in mind that namecoins aren't "money". There is a bunch of namecoin threads so I first suggest you look at those.



BTC isn't money either but you can trade it for money.  It all depends on the current market value of the asset you are trading for money. 

Find the market value of bitcoin and namecoin then figure out how many you can mine each day (at current and projected difficulty levels), multiply by the price and you will have your answer. 
16  Bitcoin / Bitcoin Discussion / Re: Is rampant speculation going to kill Bitcoin's credibility? on: June 23, 2011, 10:58:43 PM
No, it will enhance and strengthen it.
17  Bitcoin / Bitcoin Discussion / Re: Camp BX Platform in Beta: Margin Trading, Short Selling, and Advanced Orders on: June 23, 2011, 08:50:32 AM


But I unequivocally believe that spirit of Free Speech and Free Enterprise are strongest in the United States.  I have full confidence in what we are doing.

Take care,
       Keyur



Hi Keyur,

I disagree.  I think the USA is the hardest, most dangerous, most regulated and most likely to have legal, shutdown, seizure or similar problems.

The legal aspects of trading of virtual (goods / currency / commodities) in the USA are mirky at best.  Free speech doesn't count for much with the very tough regulations for AML, investing, banking, money transfer, and general litigious environment.  Add in the possibilities of seizures with the Patriot Act and anti-terrorism claims puts the USA (in my books) as the absolute worst environment to base a virtual  (goods / currency / commodities) trading company. 

Just my opinion. 

I do however, honestly wish you the best and much success with your venture.
18  Other / Beginners & Help / Re: Exchanges must have circuit breakers on: June 21, 2011, 11:59:46 AM
After any unusual drop or rise in value, a circuit breaker must be implemented.

Reads to me that as soon as there is an "unusual" change in the price, then trading should be stopped.  i.e. the suggestion of the OP is that the trigger is the higher than usual price fluctuations.

This is the definition of limit up / down.  

If there is suspected fraud then that is another matter altogether.....My point is that the trigger can not ONLY be price up/down.  
its only a limit for a short period of time. for the things to get verifyed. and checking for hackers, then the market resume.
of cource there are many ways to cheat, they should all be detected by the circuit breaker.

So how would one determine, based ONLY on price movement alone, "in a short period of time" that the price movement is due to fraudulent activity and not natural market conditions?


when a really huge price movement happens, things should be CHECKED! mtgox does not only relay on the price. magicaltux have backstage access the site! he can look at all the accounts, and find out if something unusual has happend.

I think we are saying the same thing with different semantics. 
19  Other / Beginners & Help / Re: Exchanges must have circuit breakers on: June 21, 2011, 11:45:27 AM
After any unusual drop or rise in value, a circuit breaker must be implemented.

Reads to me that as soon as there is an "unusual" change in the price, then trading should be stopped.  i.e. the suggestion of the OP is that the trigger is the higher than usual price fluctuations.

This is the definition of limit up / down.  

If there is suspected fraud then that is another matter altogether.....My point is that the trigger can not ONLY be price up/down.  
its only a limit for a short period of time. for the things to get verifyed. and checking for hackers, then the market resume.
of cource there are many ways to cheat, they should all be detected by the circuit breaker.

So how would one determine, based ONLY on price movement alone, "in a short period of time" that the price movement is due to fraudulent activity and not natural market conditions?

20  Other / Beginners & Help / Re: Exchanges must have circuit breakers on: June 21, 2011, 11:23:51 AM
After any unusual drop or rise in value, a circuit breaker must be implemented.

Reads to me that as soon as there is an "unusual" change in the price, then trading should be stopped.  i.e. the suggestion of the OP is that the trigger is the higher than usual price fluctuations.

This is the definition of limit up / down.  

If there is suspected fraud then that is another matter altogether.....My point is that the trigger can not ONLY be price up/down.  
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