How to start bitcoin exchange ?

[arshidkv12]

Hi,
How to start bitcoin exchange in India ?

[skang]

What do you want to know specifically?

Bitcoin Exchange : (Definition) A market where bitcoin is sold and bought.

You can start doing this with a notebook and pen while taking care of the risks.

[arshidkv12]

Thanks for your reply..
What are risks ?

[skang]

Think of it that you are a market of dollars. What are the possible risks if you start selling/buying dollars?
I could lay out a list of possible risks but it would be non-exhaustive.

My suggestion would be:
First, study the reason behind the exchanges that closed down.
Then, once you have implemented measures to averse those, talk to the current exchanges.

Start with the research paper: "Empirical Analysis of Bitcoin-Exchange Risk" by Tyler Moore and Nicolas Christin.
It studies the cause behind closing down of all exchanges [around 40] till January 2013.

[BTCIndia]

1. Create a website with price ticker of Bitcoin.
2. Manage some regular traffic.
3. Register a company with brand name that makes customer feel secure.
4. Find wealthy investor interested in Bitcoin.
5. Give him handsome share and prestigious post.
6. With money, hire or gather a team for website development.
7. Self-develop or buy trade engine algorithm depending on your caliber, money available or understanding of exchange.
8. Befriend some legal counsel or engage them for you.
9. Plan irrelevant AML/KYC policy and boast about it.
10. Launch it in beta version and create a hoopla about trademarks.
11. Approach VCs with sponsored pamphlet.

Now, you're proud founder and owner of exchange which does nothing more than ineffective price discover. Congratulations!
Hope, I gave you same valuable inputs. Trust me, I've seen exchange being established this way.

[Benson Samuel]

1. Create a website with price ticker of Bitcoin.
2. Manage some regular traffic.
3. Register a company with brand name that makes customer feel secure.
4. Find wealthy investor interested in Bitcoin.
5. Give him handsome share and prestigious post.
6. With money, hire or gather a team for website development.
7. Self-develop or buy trade engine algorithm depending on your caliber, money available or understanding of exchange.
8. Befriend some legal counsel or engage them for you.
9. Plan irrelevant AML/KYC policy and boast about it.
10. Launch it in beta version and create a hoopla about it with trademarks.
11. Approach VCs.

Now, you're proud founder and owner of exchange which does nothing more than ineffective price discover. Congratulations!
Hope, I gave you same valuable inputs. Trust me, I've seen exchange being established this way.

This post has been reported by 2 people for trolling. I will be marking both as Handled.

I will allow it as it does allow an insight as to how misleading mechanics can work a business...
OP failed to mention that there is a passion, understanding, defend ability and a long term sustenance factor involved.

[skang]

Hey troll BTCINdia,

None of those points have anything wrong but only your tone. Do we smell the burn?

***

People, please report troll posts that add nothing to discussion, unless you don't care about the sub.