Any Upcoming Start-ups?

[buysellbitcoin]

2) 50 BTC.. If you want monthly average it is surely more than 1500 BTC Let me give you hint BTC goes down you get buyers, BTC goes up you get sellers.

In an exchange isnt the No. of buyers= No of sellers.

No. For trades yes, but in general you will never find no of buyers = No. of sellers.

To get trades you need liquidity and to get liquidity you need enough trades.

You will get more sellers when BTC is going up trying to cash out profits and you will find more buyers when BTC is going down. Here is the basic issue lies. When BTC is going up you will not find a lot of traders who want to buy and when BTC is going down you will not find lot of sellers. But all of this is related to traders who knows what they are doing.

There is one more class of users. Newbies They always buy at rallies going up and sell when BTC starts going low. They are what you need most to get liquidity. The issue at the moment in India is you will not find good amount of newbies.

2) 50 BTC.. If you want monthly average it is surely more than 1500 BTC Let me give you hint BTC goes down you get buyers, BTC goes up you get sellers.

buysellbitco.in essentially buys from users and then sells them instead of acting as a middleman. Am i correct?

Exactly. We do not act as middleman and we are direct other party in any trade. Running exchange you dont need to bother much about rates. But as Over the counter shop we are vulnerable to BTC ups and downs and have to keep very tight hands on our stock.

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[buysellbitcoin]

Just an advise, if you are going ahead with exchange idea I will advise you to first eye for customer acquisition. Get them used to with your platform, let them setup their accounts, setup payment channels and get comfort level with your platform, support and money in-out system.

In any case you will not have awesome volumes at the start, so you can offer them free trades for few months and concentrate all your efforts to get more and more people on board with carefully designed  marketing campaigns to get people in. Start with referral program based on number of leads it generates.

Just my two satoshi

Cheers

[devansh1991]

You will get more sellers when BTC is going up trying to cash out profits and you will find more buyers when BTC is going down. Here is the basic issue lies. When BTC is going up you will not find a lot of traders who want to buy and when BTC is going down you will not find lot of sellers. But all of this is related to traders who knows what they are doing.

What makes the price go up or down?

[inrbtcad]

You will get more sellers when BTC is going up trying to cash out profits and you will find more buyers when BTC is going down. Here is the basic issue lies. When BTC is going up you will not find a lot of traders who want to buy and when BTC is going down you will not find lot of sellers. But all of this is related to traders who knows what they are doing.

What makes the price go up or down?

BTC 

[devansh1991]

Just an advise, if you are going ahead with exchange idea I will advise you to first eye for customer acquisition. Get them used to with your platform, let them setup their accounts, setup payment channels and get comfort level with your platform, support and money in-out system.

In any case you will not have awesome volumes at the start, so you can offer them free trades for few months and concentrate all your efforts to get more and more people on board with carefully designed  marketing campaigns to get people in. Start with referral program based on number of leads it generates.

Just my two satoshi

Cheers

We are on the same frequency level 

[devansh1991]

What makes the price go up or down?
[/quote]

BTC 
[/quote]

buysellbitco.in sounded as if der is some "magic" trick up every experts' sleeve 
I know abt supply and demand and confidence but fail to understand how an expert will be able to judge dese 2 factors correctly and use it to his advantage.

[subvolatil]

What makes the price go up or down?

BTC 

buysellbitco.in sounded as if der is some "magic" trick up every experts' sleeve 
I know abt supply and demand and confidence but fail to understand how an expert will be able to judge dese 2 factors correctly and use it to his advantage.

statistical forecasting

[inrbtcad]

What makes the price go up or down?

BTC  
[/quote]

buysellbitco.in sounded as if der is some "magic" trick up every experts' sleeve  
I know abt supply and demand and confidence but fail to understand how an expert will be able to judge dese 2 factors correctly and use it to his advantage.
[/quote]

I am glad you took in the right spirit....your question not just for bitcoins but for any commodity or security which is traded will not yield any meaningful answer. If you ask Warren Buffet, he will have a very simple answer Greed and fear.

An expert today is a fool tomorrow....John Paulson is the apt example for the present context.

[/dev/null]

If you ask Warren Buffet, he will have a very simple answer Greed and fear.

^ This.

Bitcoin Going UP = Greed = BUY BUY BUY
Bitcoin Going Down = Fear = "SELL SELL SELL"

On a sidenote take an appointment from dr.fontas he will tell you more about pumping/dumping.
 

[devansh1991]

statistical forecasting

pls elaborate or post any helpful link. Where do you get bitcoin stats for da analysis?

[/dev/null]

statistical forecasting

pls elaborate or post any helpful link. Where do you get bitcoin stats for da analysis?

You can find links of charts and data here.

https://bitcointalk.org/index.php?topic=131829.0

[subvolatil]

statistical forecasting

pls elaborate or post any helpful link. Where do you get bitcoin stats for da analysis?

https://en.wikipedia.org/wiki/Forecasting

there  are  many  ways  to  predict changes  in  demand  and  supply.  but  all in all ther  is  always  an element  of  risk  regardless   of  how  good  you  do the maths  and   try to  eliminate  risk of  unpredictable  changes. 

[subvolatil]

If you ask Warren Buffet, he will have a very simple answer Greed and fear.

^ This.

Bitcoin Going UP = Greed = BUY BUY BUY
Bitcoin Going Down = Fear = "SELL SELL SELL"

On a sidenote take an appointment from dr.fontas he will tell you more about pumping/dumping.
 

The thing  you are  talking  about is the   after  effect of  change  that happens. i.e. greed and  fear  only comes into  effect  when the  curve  either  dips  down or  up.  but  what causes  the  curve  to  go  up and   down  are  many. Most  of them  being  over supply or  under supply.

this  case  can  be better  demonstrated  with the  recent   drop in  BTC. this  drop  happened  because  of  a  sudden  supply  of  ASICS  in the  market, a  small number  of  people  got  the  ASIC's and  started to mine.  they  earned   a  good  number  of  BTC .  however  the  BTC  is  useless to them  unless  they  get  services  or fiat.  this  sudden rise  in  supply of  BTC  in the hands  of  a   few  increased  supply. there  for  the  prices  started  to  drop  because  of  a  few  who  needed  to offload the btc.

My prediction  on the ASIC arms  race  is that  this  will  only  bring  down  prices.  may be  in  another  3 months  it  will stabilize and  go  stable  for  another  2-4 years  till Q-chips  start's becoming  viable  to mass produce, well when  that happens  i  guess  things  are  just  going  to  sky  rocket. 

[laserwolf]

x) Traders. They do not operate in India. They directly work with MtGox, Bitstamp and X, Y, Z. But normally does not worrk with C in above. Why ? Well the % cut of c in India is a bit ted high for them and they can not justify it. They do a good volume, more than 50 BTC for sure. If you want to open exchange try to eye them. It will be very hard for you to get them in as they are used to work with liquidity which will be chicken egg problem for you.

I trade on MtGox. There is 0 chance I will trade on an exchange that charges 3% each way. Just to enter and exit a trade, it's already a 6% hit.

I used to be a market maker on Bitfloor when it was around. Bitfloor actually paid liquidity providers for each transaction, rather than charging. That's the way to add liquidity to your exchange, especially when you're just starting.

[devansh1991]

I trade on MtGox. There is 0 chance I will trade on an exchange that charges 3% each way. Just to enter and exit a trade, it's already a 6% hit.

I used to be a market maker on Bitfloor when it was around. Bitfloor actually paid liquidity providers for each transaction, rather than charging. That's the way to add liquidity to your exchange, especially when you're just starting.

1) What are the barriers faced by Indians (residents) that prevent them from trading on MtGox ?

[escrow.ms]

I trade on MtGox. There is 0 chance I will trade on an exchange that charges 3% each way. Just to enter and exit a trade, it's already a 6% hit.

I used to be a market maker on Bitfloor when it was around. Bitfloor actually paid liquidity providers for each transaction, rather than charging. That's the way to add liquidity to your exchange, especially when you're just starting.

1) What are the barriers faced by Indians (residents) that prevent them from trading on MtGox ?

Indian can do trading on mtgox and other trading sites, there's no resctriction about that, main problem is you can't deposit/withdraw fiat easily as international bank wire fees is quite high.


Currently it's like

Fiat -> Exchanger Fees -> Bitcoin -> Mtgox  -> Bitcoin  -> Exchanger Fees -> Fiat

and in this process sometimes people loose more money than they earn via trading due to exchanger's fees and price fluctuations.

[assortmentofsorts]

Indian can do trading on mtgox and other trading sites, there's no resctriction about that, main problem is you can't deposit/withdraw fiat easily as international bank wire fees is quite high.

Do you have an idea about the kind of fees for wire transfers? I'm asking coz I'm finishing with an app which accepts only cryptos (Bitcoin, Litecoin etc) and I want to withdraw after a certain threshold. But I have no idea about the wire fees (I have HDFC/Axis bank accounts). If the fees are too high, then I can withdraw in big chunks rather than withdrawing for each transaction.

[escrow.ms]

Indian can do trading on mtgox and other trading sites, there's no resctriction about that, main problem is you can't deposit/withdraw fiat easily as international bank wire fees is quite high.

Do you have an idea about the kind of fees for wire transfers? I'm asking coz I'm finishing with an app which accepts only cryptos (Bitcoin, Litecoin etc) and I want to withdraw after a certain threshold. But I have no idea about the wire fees (I have HDFC/Axis bank accounts). If the fees are too high, then I can withdraw in big chunks rather than withdrawing for each transaction.

"Withdrawals
Wire transfers are currently taking up to 1 week to process due to the volume of withdrawal requests in queue.

If your withdrawal is larger than 10,000 USD (equivalent), it will take at least 2 weeks to process.

Withdrawals typically take 2-5 full business days to reach your bank, provided that you have included all required information such as your full name and address as it appears on your bank statement.

Mizuho bank charges a fee of 2,000 Yen for the withdrawals."

https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

2000 YEN is around 20$ now.

[assortmentofsorts]

Indian can do trading on mtgox and other trading sites, there's no resctriction about that, main problem is you can't deposit/withdraw fiat easily as international bank wire fees is quite high.

Do you have an idea about the kind of fees for wire transfers? I'm asking coz I'm finishing with an app which accepts only cryptos (Bitcoin, Litecoin etc) and I want to withdraw after a certain threshold. But I have no idea about the wire fees (I have HDFC/Axis bank accounts). If the fees are too high, then I can withdraw in big chunks rather than withdrawing for each transaction.

"Withdrawals
Wire transfers are currently taking up to 1 week to process due to the volume of withdrawal requests in queue.

If your withdrawal is larger than 10,000 USD (equivalent), it will take at least 2 weeks to process.

Withdrawals typically take 2-5 full business days to reach your bank, provided that you have included all required information such as your full name and address as it appears on your bank statement.

Mizuho bank charges a fee of 2,000 Yen for the withdrawals."

https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

2000 YEN is around 20$ now.

Hey thanks for the info.

2-5 Business days and 20$ per transfer? Sucks! I'm using BIPS ( disclaimer: referral link ) for processing payments. They charge a flat fee of 7.5USD for wire transfer, which is okay I guess (since i'll only be withdrawing after a certain threshold). But I'm more worried about fees that i'll need to pay to my bank (Axis/HDFC). Any idea on that?

[escrow.ms]

No idea about icici but on axis bank it's 200 rupees something fees for per inward remittance.