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Author Topic: Feedback for potential new bitcoin venture in Cyprus  (Read 719 times)
cryptocyprus
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June 08, 2013, 09:19:30 PM
 #1

I have been a long term Bitcoin user and would consider myself a generally silent member going about my business without making too much noise.

If my username didn't give it away I am based in Cyprus and was lucky during the banking crisis that the majority of my funds are held in Bitcoin. During and since that time I have been going through many thought processes about starting my first Bitcoin venture. With all the regulation hitting the marketplace in the US, I have the unique opportunity of obtaining offices within the UN Buffer Zone here in Cyprus, the benefit of such a location is that it is not subject to the laws of the Cypriot government nor that of Turkey. Bars do not require a liquor license (as an example).

With such a large British and Russian community on the island I would target these groups additionally and provide a way for them to move money between countries and as a store of value. Naturally the biggest part would be to ensure they understand the possible fluctuations whilst Bitcoin is being held as a store of value.

The inner workings of the system to make it extremely easy for my customers to understand what protects their investments are already mapped out on paper. I have a strong past in web & system design to be fully capable of creating the systems required for such a venture.

I could easily accept the following ways to exchange from Fiat into Bitcoin;

    Cash deposit at the main office within the UN Buffer Zone
    SEPA Bank Transfers
    International Bank Transfers
    Gift Cards for online redemption to be sold around the island/world

To cash out anywhere in the world I would look to establish an international group of traders that could exchange cash in person or through local bank deposits/transfers (in the style of Localbitcoins.com/Western Union). Local depositors can exchange their holdings for cash in the office.

I also hold gold and silver bullion as I do not trust fiat (even more so since our banking crisis) and would look to implement this as an option for my clients.

Sorry for the ramblings just looking for some constructive feedback from fellow bitcoiners.

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June 09, 2013, 01:01:26 AM
 #2

It sounds interesting. I would suggest posting in one of the other sections once you are able to do so. Beng in that buffer zone sounds advantageous.

I have been a long term Bitcoin user and would consider myself a generally silent member going about my business without making too much noise.

If my username didn't give it away I am based in Cyprus and was lucky during the banking crisis that the majority of my funds are held in Bitcoin. During and since that time I have been going through many thought processes about starting my first Bitcoin venture. With all the regulation hitting the marketplace in the US, I have the unique opportunity of obtaining offices within the UN Buffer Zone here in Cyprus, the benefit of such a location is that it is not subject to the laws of the Cypriot government nor that of Turkey. Bars do not require a liquor license (as an example).

With such a large British and Russian community on the island I would target these groups additionally and provide a way for them to move money between countries and as a store of value. Naturally the biggest part would be to ensure they understand the possible fluctuations whilst Bitcoin is being held as a store of value.

The inner workings of the system to make it extremely easy for my customers to understand what protects their investments are already mapped out on paper. I have a strong past in web & system design to be fully capable of creating the systems required for such a venture.

I could easily accept the following ways to exchange from Fiat into Bitcoin;

    Cash deposit at the main office within the UN Buffer Zone
    SEPA Bank Transfers
    International Bank Transfers
    Gift Cards for online redemption to be sold around the island/world

To cash out anywhere in the world I would look to establish an international group of traders that could exchange cash in person or through local bank deposits/transfers (in the style of Localbitcoins.com/Western Union). Local depositors can exchange their holdings for cash in the office.

I also hold gold and silver bullion as I do not trust fiat (even more so since our banking crisis) and would look to implement this as an option for my clients.

Sorry for the ramblings just looking for some constructive feedback from fellow bitcoiners.
cryptocyprus
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June 09, 2013, 05:12:15 AM
 #3

It sounds interesting. I would suggest posting in one of the other sections once you are able to do so. Beng in that buffer zone sounds advantageous.

Thanks, I shall be doing so when it's possible. I have been in discussion with another Cypriot bitcoiner and taken his points on board with regards to processes etc.

Another benefit of the area dependent upon which nationality built the building the main office shall occupy is free electricity. Going to start developing the plans in finer detail from today (8am and got the coffee sat next to me already).

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Elokane
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February 26, 2014, 12:13:45 PM
Last edit: March 31, 2020, 04:29:09 AM by Elokane
 #4

Fuck me.

Synereo: liberating the Internet from abusive business models.

Beware of he who would deny you access to information, for in his heart, he dreams himself your master.
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