I am not trying to derail this thread but I have a feeling that people like Op are behind every major exchange that failed to protect BTC from hacking attempt: Mt.Gox and Bitfinex included.
Because this is what happens when people who have no idea what they are doing are managing services. We don't need any more or half witted sites, services or projects, please.
no hard feeling, but just wanted to correct you a little bit:
Mt.Gox was not hacked. It was inside job, just like Cryptsy...
And they both knew exactly what they did...
As for the OP - if this is for a school project - go ahead and do it. What you want to do is good for educational purposes... (this way I learned php back in the days - creating torrent sites on my internal network, yet I was able to learn from there php and work afterwords for companies and create their websites..) So it is a good start to learn how to make sites and services
But if it is something you want to run as business => please DO NOT!!! as you will most probably fail and that will be bad for you and for the people who trusted you.
You will need to read a lot and most probably be ready to hire professionals to do this work for you...
btw good luck
