What do you think about this idea?

[hankhill69]

Hello All,

I live somewhere in north america, but i have very good connections in india for developers, mainframes, and other gizmos, my question is would it be worth it for me to setup an alternative currency exchange in India? and start something like coinbase except for India and the rupee?

Thank you for answering

[TrailingComet]

Yes, my understanding is that it is very hard for Indians to buy btc legitimately and at a fair price
Regulations need to be looked t however

[GarbageName]

Hello All,

I live somewhere in north america, but i have very good connections in india for developers, mainframes, and other gizmos, my question is would it be worth it for me to setup an alternative currency exchange in India? and start something like coinbase except for India and the rupee?

Thank you for answering

If you know what you are doing "Go forth and make money!".

Like the above poster said, there are probably reasons this hasn't been done (or some exchanges may be in the pipeline and are just taking time). But if you have the expertise, or can put together a group that can get this done you should do it.

I only encourage you because you saw what the putting up Chinese exchanges did for bitcoin...why not add another 1.1 billion potential users?

--GarbageName

[vadoff]

Sure, if you can make it good. Creating a performant, secure exchange is harder than it looks.

[michielnl]

Just like local SEO, I would not bother to compete with locals.
If you are a small succes you will be copied and bypassed in a short period.
India has too many wizkids, entrpreneurs, senior professionals in their borders.
I would consider to do a joint venture then.
Make sure you have local knowlegde / culture / marketing / legislation covered.

[hostmaster]

Hello All,

I live somewhere in north america, but i have very good connections in india for developers, mainframes, and other gizmos, my question is would it be worth it for me to setup an alternative currency exchange in India? and start something like coinbase except for India and the rupee?

Thank you for answering

I also do buiness for indian public. It's promising because indian market will beat china market in the close future...

[hankhill69]

thank you for all you replies,

Also if one was to start an exchange what type of things would i need to know and do to make an exchange successful in your opinions? What else could i start in India with alternative currencies? I believe india will pass china in this arena.

[hankhill69]

Hi Shahrukh,

Please feel free to contact me at bitcoin10@hushmail.com. I am very interested lets bounce some ideas around

[CarbonAssassin]

If you can actually set it up properly then it would be a great business venture. But you do have to consider all the risks etc. For one the amount of crypto sites getting hacked is huge and the investment you would have to place down to get the proper security and server power would be larger than you would probably imagine. Take crytsy as a example. The amount of hate towards that site is huge due to overloaded servers ddosing, bad code etc. As soon as you provide a financial service there really isn't very much room for slip ups and you definitely need to know what your doing. In my personal opinion its the kind of project that needs to be taken up by a small team of people as there is only so much 1 or 2 of you can do.

[Gekcoin]

Great idea! Follow up on it! I would like to see bitcoin exchanges also in africa since there is a real demand for efficent money service businesses. Currently a wide network of local fiat exchanges has established in africa, based on sms (short message service) money transactions. Because africa is a large country there are not as many banks around the corner like in europe or US. Sometimes you have to drive hundres of miles to reach a bank. Replacing this sms money service with digital currencies might be a very productive undertaking, since this is a real market demand. And the africain enconomy is doing very well.

[infinitybo]

@TrailingComet in fact they may buy this product in a local exchange.

[hankhill69]

Gekcoin,

I completely agree Africa will be the next frontier for finance and alternative currency. Out of curiosity to all that replied, I have funding to launch a project like this would any of you have the knowledge to pull this off? I want to launch this before my hedgefund buddies start making the pool dirty.