You lucky  dog  you .. 

Hey hey hey Benson , if you are  pointing  at "mild  accusations"  at me.  dont  worry. my  accusation  will start  when  people  start   signing up  with them and  their money and  bitcoins  start  to  disappear. a  firm created  in  secret no verifiable  information,  dont  really  know  who  this  person is. trust is  hard to gain but  like  i  said  before . when people  dont  answer   questions   asked  that  becomes  suspicious.  may be  you  are ok when  people  dont  fully  answer   questions  .  but  not me.

Question  being  avoided and  twisted  are  signs  of  anterior  motives.

There are  alot  of  underlying  problems  to this,  that has not been  cleared  out. the  fact  being  that a  exchange  holding a client  money  basically  turns an  entity into  a   bank,  meaning  that all  withdrawals have a interest amount  attached to it. (RBI norms). if they are  going  as a Trading firm  then  the  SEBI is involved. which  has  more   rules  than a  banking  regulation.  there  are  too many  rules   to   counter  money laundering  in  india. many  are  pointed  to  stop  withdraws of  cash, and   transfer  of   cash  outside  india. 

A exchange  in  india  still  holds  INR in  its   account   for a  client  after  the  sale of  bitcoins .  making  it  a  deposit  felicity .   then  comes  the  problem  of   withdrawing   money  from  the  account   or  the ewallet, and  that  is  prohibited .  this is the  only  thing  that needs to  be  worked  around.  once  this  problem is  solved  then an  exchange  can  operate within  india  without  government  interference, atleast  for  some  time.     

If these problems  have  not  been  solved  by  an  exchange  opening in india, then  the  risk  of this,  being  a  temp operation  is high.   The main  problem, security  of the  site  is not  ensured  and the  people  starting  this  has  a  more or less a carefree  attitude  towards  security ,  showing  verry  little  care  about  the clients  money  that are  going  to  be  entrusted  in them. 

So  Benson if you  call this an  mild accusation then  you are  mistaken, ckz this is an  observation. the  accusation  will come  later on. 

i think that  taxi driver  was  from  Germany . i hope  he  got  to buy a taxi  of his  own like  he  said he  would. but  that was  quite a long time back.

So what  are  you  thoughts  on this

http://www.youtube.com/watch?feature=player_embedded&v=emDJTGTrEm0#at=503


http://en.wikipedia.org/wiki/Shinichi_Mochizuki

was  that  for me . :-) 

Awwww  that so  sweet.  Benson stop pulling my chain . arnt  you  out  of cigs yet.. 

Agreed  Benson Samuel there is no  accusations here  just a  red flag  of  caution.

be careful.  people.

icoinv build  your  trust.  hope you  do  business  in a  fare  manner.

Edit :-
Forgot  to mention  ,  most  of the  questions  i asked  was not  answered.  so  before signing up and   transferring  your  funds   think twice.

Thank you  for  your  honesty. in not able  to  win  my  trust.

  From  my  side  it  a  Red  Flag for  you  organisation  i-co.in or  Sree Vinayaka Enterprises[S.V.E]  what ever  you call it.


I  dont  know  what the others   would  want to  say  about this . 

So  guys   a  little   feedback on  this  would  be  appreciated 

are  you  a  partner ,  managing  director , or  a  CEO..
If  you have   partners how  many , what  are their  background   and their  entire  details. 

But  i  guess  it  useless  trying  to  save a  drowning  ship. 

Awh  well best  of  luck  on  your  other  endeavours.

hard  to lie  you  way out of this  one chum.

CEO is  just  a  designation ..  looks like  you   also  don  have  any   experience  in   business. or  running a   company.  let  me  educate  you ,


In  a  partnership  firm  the  partners  are the  designation.the  profit   sharing   ration  in the business.  in a   company  established  by the  companies act  of  1957,  a  company is an  entity ,  with   shareholders   who  elect  a  chairperson who   appoints  a  CEO.  (my memory is  a bit  vague  but  this  is  about  right.)

Arjun  ( icoinv)  you are now making  your  self look really ignorant, about  the  bitcoin community , and  frankly  what you just  said  suggest  that  we  in the Indian  bitcoin  community  should  settle  for a  bellow  standard  security.  I really wonder  what you know  about  the  bitcoin community  as a  whole.

 I really  dislike  people who  see bitcoin as a  quick money  making  scheme. i wonder  if that is  the  same  with you .  looks like  you  patched up a  website in a  hurry  with  verry  little  security  and  used a  firm, or  some  enditity to  start  up this  business (wonder  if  that enterprise is  like a  family  owned  old  business  you are  using  as  cover).  and  you have  made  sure  to  hide  all of  your  details  .  so , no can  identify you. if you cannot  meet  the  basic  security needs and  identity  disclosure , you  are  better  off  working  in what ever  company you are  working  as a  programmer.  

So  basically we  have  no  way to  verify  if,  you  are  who  you  say you  are.  ther is  nothing  that can  link  you,  no phone  number,   no  proper  address.  dont  even know  if  you  are  real.

Secondly  you  have  no  two  factor  auth,  so i  can  safely  amuse  that your  site  is  venerable  to sql injection  tooo, if  you  are  not  able  to  even impliment  a   simple  two factor  auth  on  your  sites.   .   come to  think  of  it, it's   quite  odd  that  some  of the  business that  sell bitcoin  came under  a ddos  attack   before  you  guys   announced  your  self.  coincidence may be may be not .

You guys  seems  to  be  highly  reluctance  to  give out  your   identy  to  make  every one  feel secure. that raises  a  big  red  flag.  as  far  as  i know  you  could  be  my neighbor next  door,  your  information  is  not   sufficient .

Let  me  tell you  some  thing, in a  country  filled  with  scam  artist,  for you  to  do  business  you  will have  to   assure  your  customers  that you can  be  trusted .,  right  now  there  is  no  trust .

As  for  now  i  would  put  a   RED FLAG  on  i-co.in , Sree Vinayaka Enterprises or iCoin .

P.s - Bitcoin is an  open  community   if you  want  this  community  to   trust  you  stay in a  open  manner.   dont  try  to  hide  or   obscure   details  and  twist  things  around.  


By  the  way in  an  earlier  post  i think you  said  you  were  a  partnership ,  now  it  is a  enterprise  with a  "CEO"  Who is the  chairman?  but  then again  that is only in  a  "Company" ,  some  thing  is  real fishy.

I'm not  convinced

cool Thanks  for the update.

Now  ive  got  more  questions. guess after looking through your  site  and  details  there is  a larger  Question mark.


You are  located in a  town  no bigger  than 10 football fields big in the middle  of  nowhere.  you contact numbers  not there  .
owners  name not there.  atleast  we  could  see  the people  before  doing  business with.  

you  still  have not  been able to  answer  how  you  are  working  around  the RBI  guidelines  of  withdrawing  money  from  the e wallets .

awaiting  your  answer  eagerly .

O i forgot  to ask  you, how  are you getting  around  the  RBI  guidelines  of  withdrawing  INR from you  e-wallets  .

Who are you  guys   a  little  details  will help .  i really  don  trust "the  fly  by night  operators. "

and  not  some   crappy  word  about  being  a  bitcoin  believers and   for the  community  crap .

your  supporting  evidence is that, you  guys  are   a  registered   company   with your   company  details .  office  phone  numbers,  office  address, list of  partners, and  your  photographs.  

and  do  you have  permission  to  run  a bitcoin  based  business  with the  bank  you  are  operating with  ?

Straight  froward  questions and  require  straight  forward  answers  .

Thanks :-)

What  happened  to the last  project  skang  was  trying to  do ? i dont see any updates on his project. would  yours  also die out like that  ?

I would  suggest  if  you  are  selling  in bulk drop the 10% you  would  get more  buyers, buying in bulk.

why dont  you  put in   a  amount  you  would like  to sell. and  the  price for  each .. i  have listed  a  buy  request from you . i can list a  sell request  so that every one  will know  you are  selling  how many at how much. 

You should  put it up for  sale.  some of it, may be a bellow  the rates  other  sellers  are selling at.  might be a good thing for the community.  i think you will still earn  a profit on that .

well  identification of  users in  the  bitcoin  chain  is  possible .  with  the  proper  analysis  of the   addresses  and  the   transaction  history,  and  should   remain  to  that only . however in terms of  identification of  users  in the  sights for a  government  data  base,  is  some thing history has  far to  often shows  how  violent it  can  be .  Hitler  created  a  data base  look  what it  did.

Crypto  currency  was  a  theory  by  which two  entity can  securely  transfer  funds to  each other  without  the processing   entity  not  knowing  the  identity of  each  other. some thing like  the Yao's Millionaires' problem,(not   exactly but  similar).

If  i  want to  be  identified  i'll just  use  pay pal.  crypto  currency,   addresses a  specific   problem  of  value  transfer  without  others  knowing   what is   being  transferred.  any  sort  of  identification is   not  some thing  good  for  the   ideas  this  was  formed  upon.

Hey  Pinwheel & legendster  your  purchase and  sell  rates  are  now  close  enough to  do the transaction . have  you  two  already  done the  transaction  yet.