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minerops (OP)
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July 03, 2011, 04:45:13 AM
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thinking of starting a currency exchange business but am afraid to advertise due to possible legal issues

the basic premise is:

market to international students as a cheap exchanger of currency, use bitcoins to pull off  a competitive exchange rate (relative to those mall kiosks that over charge, or a bank which skims off the top)

if i post in a local newspaper i want to have my legal bases covered. thoughts?
JHJ 420
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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minerops (OP)
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July 03, 2011, 05:03:28 AM
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trying to think if this is feasible...

i'd need a small bank of BTC and USD.

if i sold from my BTC bank at the moment i received an exchange order, i'd need a buyer (in BTC) of the foreign currency as soon as possible
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July 03, 2011, 05:06:06 AM
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Quote from: minerops on July 03, 2011, 05:03:28 AM
trying to think if this is feasible...

i'd need a small bank of BTC and USD.

if i sold from my BTC bank at the moment i received an exchange order, i'd need a buyer (in BTC) of the foreign currency as soon as possible

so i could regain my BTC bank. i would regain my USD bank through Dwolla/Gox... and add to USD bank any profit
JHJ 420
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