Developing an exchange - business advice required

[btceic]

Ok, so I'll use the opportunity to clear it up for me, because I apparently misunderstand the way MT works...
So, with MT you only have one base currency, and all the rest is expressed in terms of positions on currency pairs relative to your base currency ?
Is this correct ?

This is correct, although you can still trade, for example EUR/JPY even if your account is funded in USD but behind the scenes there is a conversion taking place which allows you to do this but has a greater margin requirement than a trade in EUR/USD.

those are referred to as exotics correct?

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[davout]

This is correct, although you can still trade, for example EUR/JPY even if your account is funded in USD but behind the scenes there is a conversion taking place which allows you to do this but has a greater margin requirement than a trade in EUR/USD.

Ok, my initial understanding was incorrect. Learned something today :-)
Thanks for enlightening me.

[lixiaolai]

You can do that as long as you accept you'll only ever be able to deposit and withdraw BTC. In fact I think there is already a broker (note not an exchange) which will let you do this: http://bit4x.com/

AFAIK MT does not make assumptions about how you get money in and out.
If you have questions about it, you should ask kakobrekla on #bitcoin-assets, he's behind bit4x

Also, like I said, the tech is about 5% of the work required for an exchange, and you already seem to have lost quite some time by re-doing everything yourself, the business part is the tough part. If you have to learn it by yourself then so be it, but I strongly suggest you pay very close attention to this particular piece of advice.

you can always give critical analysis. amazing.

[monsterer]

those are referred to as exotics correct?

IIRC they're called cross-pairs, but might be wrong

[daybyter]

@monsterer: got my pm?

[wtman]

Update on this? How is it going? Do you accept individual crypto projects? Please pm me your contact info

[fordlincoln]

As someone who works in startup, enterprise software, and saas - I would recommend:

1. Charge after you have validated that people want to use it and are willing to pay for it
2. open source is a good idea if it doesn't violate your IP rights
3. where is the value - charge $ on whoever/whatever will benefit from that value

[monsterer]

As someone who works in startup, enterprise software, and saas - I would recommend:

1. Charge after you have validated that people want to use it and are willing to pay for it
2. open source is a good idea if it doesn't violate your IP rights
3. where is the value - charge $ on whoever/whatever will benefit from that value

Thats great advice, I appreciate it