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Author Topic: OFFERING 6.5 LAKHS ($10K ) for 15% EQUITY in Bitcoin Exchange  (Read 1290 times)
sanbel
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February 12, 2017, 11:12:25 AM
 #1

Wasn't sure under which child forum to post this :

Offering 6.5 lakhs as a passive investor for a planned online only bitcoin exchange/startup/bitcoin remittance company in return for minimum 15-51% equity (equity percentage may be negotiated further down to a MUCH lesser value based on how much additional funds/relevant skills are being brought to the table). Preferred if you have knowledge of how to incorporate a startup in a tax haven outside India with global clients and virtual online only employees. Please respond even if you are unaware how the legal framework and Tech works. Please be willing to take on the "Sole" founder and CEO role ( Founder/CEO role => Low salary (bootstrapping) + raise Funds. Some perspective : Mark Zuckerberg's base annual salary = 70 Rupees )
Prefer if founder is Bengaluru based ( legal paperwork becomes easier ).
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bitcoinisbest
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February 12, 2017, 05:20:59 PM
 #2

Could you share the name of the site which you are talking about.

Also why only Bangalore is paperwork in other cities too much compared to Bangalore? What exactly do you require from the Indian users?

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gexcrypto
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sanbel
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February 12, 2017, 05:37:01 PM
 #3

BitMEX is the website name. It is incorporated in Seychelles.

I can meet in person in Bengaluru to sign papers personally.
newIndia
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February 12, 2017, 07:10:24 PM
 #4

Wasn't sure under which child forum to post this :

Offering 6.5 lakhs as a passive investor for a planned online only bitcoin exchange/startup/bitcoin remittance company in return for minimum 15-51% equity (equity percentage may be negotiated further down to a MUCH lesser value based on how much additional funds/relevant skills are being brought to the table). Preferred if you have knowledge of how to incorporate a startup in a tax haven outside India with global clients and virtual online only employees. Please respond even if you are unaware how the legal framework and Tech works. Please be willing to take on the "Sole" founder and CEO role ( Founder/CEO role => Low salary (bootstrapping) + raise Funds. Some perspective : Mark Zuckerberg's base annual salary = 70 Rupees )
Prefer if founder is Bengaluru based ( legal paperwork becomes easier ).

So, in short, u want to invest ~10 BTC and want ~15% equity of a global bitcoin exchange?

sanbel
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February 12, 2017, 07:32:59 PM
 #5

Wasn't sure under which child forum to post this :

Offering 6.5 lakhs as a passive investor for a planned online only bitcoin exchange/startup/bitcoin remittance company in return for minimum 15-51% equity (equity percentage may be negotiated further down to a MUCH lesser value based on how much additional funds/relevant skills are being brought to the table). Preferred if you have knowledge of how to incorporate a startup in a tax haven outside India with global clients and virtual online only employees. Please respond even if you are unaware how the legal framework and Tech works. Please be willing to take on the "Sole" founder and CEO role ( Founder/CEO role => Low salary (bootstrapping) + raise Funds. Some perspective : Mark Zuckerberg's base annual salary = 70 Rupees )
Prefer if founder is Bengaluru based ( legal paperwork becomes easier ).

So, in short, u want to invest ~10 BTC and want ~15% equity of a global bitcoin exchange?

Yes.  However:
1) I have asked around for current prices and rates for an exchange script and how to setup the whole thing - so I have an idea about the difficulty involved.
Also, 2)  I have specific plans on what exactly needs to be done legally and technically which can be discussed in person. Ideally I would want to be a co-founder but I would be holding a Full time 9-5 job at the same time so yes - I will end-up being just a passive investor.  Setting up or buying an existing exchange is easy. Preventing it from being hacked by social engineering, handling the day to day operations, paying full-time employees monthly pay-check, renting the cloud server space ( if bootstrapping ), preventing DDOS ATTACKS and being the face of the company ( CEO ) in the event of say a 3rd co-founder stealing everything and running away with the bitcoin exchange master key ( Since this will be a global exchange ), getting people to switch-over to your exchange from other exchanges when your idea is nothing new and there are 2630 other similar exchanges, Aggressive Marketing and Acquiring monopolistic customer base - Now THAT will be the hard part.
newIndia
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February 12, 2017, 07:55:30 PM
 #6

getting people to switch-over to your exchange from other exchanges when your idea is nothing new and there are 2630 other similar exchanges, Aggressive Marketing and Acquiring monopolistic customer base - Now THAT will be the hard part.
True. And 10 BTC is a pretty small amount to compete globally.

sanbel
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February 12, 2017, 08:02:11 PM
 #7

getting people to switch-over to your exchange from other exchanges when your idea is nothing new and there are 2630 other similar exchanges, Aggressive Marketing and Acquiring monopolistic customer base - Now THAT will be the hard part.
True. And 10 BTC is a pretty small amount to compete globally.

If the whole buy,sell, order matching and verification process can be automated ...then maybe not. Not seeking a trade engine. Just something to get started and increase brand-name. When you look back in year 2027, you should be able to say - oh  that company was started in year 2017 -  ten years ago - "So" it must be trustworthy. Warna sooch-tay he rehay jaayen-gay.
susila_bai
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February 12, 2017, 08:29:43 PM
 #8

getting people to switch-over to your exchange from other exchanges when your idea is nothing new and there are 2630 other similar exchanges, Aggressive Marketing and Acquiring monopolistic customer base - Now THAT will be the hard part.
True. And 10 BTC is a pretty small amount to compete globally.

If the whole buy,sell, order matching and verification process can be automated ...then maybe not. Not seeking a trade engine. Just something to get started and increase brand-name. When you look back in year 2027, you should be able to say - oh  that company was started in year 2017 -  ten years ago - "So" it must be trustworthy. Warna sooch-tay he rehay jaayen-gay.

I am from Hubli, i can do the work what you are offering, just PM me the full details and i can help you with the setup.

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sanbel
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April 06, 2017, 07:21:52 PM
 #9

Hi Everyone,

Thank you for your inputs and your personal messages. I am sorry I could not get back to everyone individually. I intended to put in $10k in return for 8-15% equity in a globally scale-able bitcoin startup ( preferably an exchange). I did not get a 15% equity offer in a globally scale-able startup for $10k. I  now realize that you need much more liquidity to start an exchange and the "money transmission laws" both within a countries borders and across international borders are complex. So this is still an ongoing process and still at the early stages of ideation.  I will update this thread if anything materializes.
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April 30, 2017, 04:30:10 PM
 #10

I'm currently bootstrapping a bitcoin exchange and trading platform based out of Delhi-NCR.
I could come down to Bengaluru and discuss business opportunities.
sanbel
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November 14, 2017, 11:10:09 AM
 #11

Now seeking a fulltime co-founder for this venture. Requirements are in the image link shared below. Please only get in touch if you happen to meet all requirements. Thank you!!
.
https://imgur.com/a/ARH6M
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