[BitOcean] Bitcoin exchange India [Closed]

[Dashing]

It is at the CIS campus in Domlur.

And yes, it is on the 13th in Bangalore.

Will try to make it, hopefully the exchange can get done before that and it'll be really neat to launch it at the BitFest

[Dashing]

1 x Graph for now is done,



Ouch, It's a pain generating these graphs with external data, hopefully it'll be easier once the data will be internally generated.

[drdanishkhan]

1 x Graph for now is done,

Ouch, It's a pain generating these graphs with external data, hopefully it'll be easier once the data will be internally generated.

With hard work comes Bitcoins 

[Amitabh S]

With great amount of bitcoins comes great responsibility..

Message especially for those people hosting online wallets

[Dashing]

1 x Graph for now is done,

Ouch, It's a pain generating these graphs with external data, hopefully it'll be easier once the data will be internally generated.

With hard work comes Bitcoins 

haha thats true anyways once the trading starts we can pull in data directly from the DB itself rather than pull in from out -> convert to INR -> DB -> Graph

[Dashing]

With great amount of bitcoins comes great responsibility..

Message especially for those people hosting online wallets

Yep, that's true, that's why we will be keeping all the funds in a cold wallet away from the server.

[KITT_knightrider]

@Dashing

Consider these payment gateways...

http://www.payhub.in/ <-- This is a payment HUB!!

http://juspay.in/ <-- Another mobile payment.

Domain is BITEX.IN 

[Dashing]

@Dashing

Consider these payment gateways...

http://www.payhub.in/ <-- This is a payment HUB!!

http://juspay.in/ <-- Another mobile payment.

Domain is BITEX.IN 

Probably wont use those 2 as they seem to be very very new i think, anyways, we'll start off with,
WesternUnion, OkPay (maybe) and some others like Xoom.

Domain probably won't be bitex.in as it was registered up by someone else the very day we posted the screenshots (my mistake)

[Dashing]

Okay, taken down site, next announcement will be once it's up with the domain and everything cleaned and setup again.



EDIT : Just before i took it down, I had updated the graphs, there was a small mistake earlier on.

[KITT_knightrider]

@Dashing

Consider these payment gateways...

http://www.payhub.in/ <-- This is a payment HUB!!

http://juspay.in/ <-- Another mobile payment.

Domain is BITEX.IN 

Probably wont use those 2 as they seem to be very very new i think, anyways, we'll start off with,
WesternUnion, OkPay (maybe) and some others like Xoom.

Domain probably won't be bitex.in as it was registered up by someone else the very day we posted the screenshots (my mistake)

hmm... Very new might be interested in new tech.... BTC maybe in future...

PM'd some names do check

[drdanishkhan]

So can i start givin pre orders now[email]
How much time does western union take ??

[Dashing]

So can i start givin pre orders now[email]
How much time does western union take ??

Should be by tomorrow afternoon everything ready to go.

The thing now is,
We can accept deposits, but we will have to wait for people to deposit / sell BTC to match the INR order you make so there might be small delays at the start.

[laserwolf]

So can i start givin pre orders now[email]
How much time does western union take ??

Should be by tomorrow afternoon everything ready to go.

The thing now is,
We can accept deposits, but we will have to wait for people to deposit / sell BTC to match the INR order you make so there might be small delays at the start.

This is not really how an exchange works. exchanges have market makers who are always willing to both buy and sell from market participants. They quote both a buy price and a sell price at the same time. The difference is the spread, which is how they make money.
https://en.wikipedia.org/wiki/Market_maker

[Benson Samuel]

So can i start givin pre orders now[email]
How much time does western union take ??

Should be by tomorrow afternoon everything ready to go.

The thing now is,
We can accept deposits, but we will have to wait for people to deposit / sell BTC to match the INR order you make so there might be small delays at the start.

This is not really how an exchange works. exchanges have market makers who are always willing to both buy and sell from market participants. They quote both a buy price and a sell price at the same time. The difference is the spread, which is how they make money.
https://en.wikipedia.org/wiki/Market_maker

laserwolf,

We have problem in India in terms of accepting customer deposits and storing in a bank account for over 7 days. This seems to be a step 1 workaround. I would believe that this will get more seamless as time passes.

[Dashing]

So can i start givin pre orders now[email]
How much time does western union take ??

Should be by tomorrow afternoon everything ready to go.

The thing now is,
We can accept deposits, but we will have to wait for people to deposit / sell BTC to match the INR order you make so there might be small delays at the start.

This is not really how an exchange works. exchanges have market makers who are always willing to both buy and sell from market participants. They quote both a buy price and a sell price at the same time. The difference is the spread, which is how they make money.
https://en.wikipedia.org/wiki/Market_maker

Well, the thing is that, we will just be launching, because of which there wont be much volume hence we can't process transactions "live" time, the only reason other exchanges are able to do is because they have large volume and people buying/selling always.

The price is not fixed, it varies with the USD/BTC market price.

[Dashing]

So can i start givin pre orders now[email]
How much time does western union take ??

Should be by tomorrow afternoon everything ready to go.

The thing now is,
We can accept deposits, but we will have to wait for people to deposit / sell BTC to match the INR order you make so there might be small delays at the start.

This is not really how an exchange works. exchanges have market makers who are always willing to both buy and sell from market participants. They quote both a buy price and a sell price at the same time. The difference is the spread, which is how they make money.
https://en.wikipedia.org/wiki/Market_maker

laserwolf,

We have problem in India in terms of accepting customer deposits and storing in a bank account for over 7 days. This seems to be a step 1 workaround. I would believe that this will get more seamless as time passes.

Yep, once we get some volume and "flowing" cash, this will become a much faster as then we would not have to wait for the cash at the bank.

[Amitabh S]

Bump! Eagerly waiting for this to go live.

[Amitabh S]

Very nice.

Let me guess: Clojure? :p

hmmm why Clojure?

[buysellbitcoin]

Very nice.

Let me guess: Clojure? :p

hmmm why Clojure?

Clojure is latest fashion in trend with geeks ( it just replaced Ruby )

Cheers

[Benson Samuel]

Very nice.

Let me guess: Clojure? :p

hmmm why Clojure?

you know why I asked Clojure Amitabh :p