Deleted

[MrWDunne]

Funded

[minerpart]

Danny - is that you?

[minerpart]

Danny was real.

In other words - where are your safeguards. Will you be having open accounts?
And the bit about 'more shares may be sold' is a non-starter. So you could devastate the share price with a huge share dump at any time and for any reason?

[minerpart]

'with exception to the hostility shown by major banks - which we have managed to resolve. '

This bit concerns me. Do you have a written assurance that your banking services will not for any reason be closed or withdrawn or charged excessively? If not how will you ensure you can remain in business if the bank you have the account with decides they no-longer wish to support the Bitcoin industry?

[minerpart]

Do you or your partners have a background in the financial industry? Do you have any business experience? Are you putting any of your own capital into this company?

[minerpart]

I'd love to see a UK based exchange (we need more exchanges) but you need to build up a huge amount of trust and that for me takes more than the meager details on your newly created AngelList page. This quote from that site is another huge concern for me:

'The exchange also provides us with the capability of creating other services, and to take advantage of arbitrage opportunities, provide merchant services and many other exciting opportunities.'

If you are operating a trading exchange and a casino and playing the market between exchanges I see you as very high risk individuals who won't necessarily have the safety of your customers deposits as a priority. You are basically saying here that you will rig your exchange spot price in order to take profit either from your own depositors or attempt to take money from depositors at other exchanges. Have you checked this strategy with the FSA? I think as the exchange operators it could get you locked away.


One thing you haven't even mentioned and it's actually the most important detail - security. You will need to hire an online security expert who protects deposits from hackers and company employees. The huge failings at Bitfunder/WeEx and MtGox and NeoBee mean security is the No. 1 issue for a holder of large bitcoin deposits. You have failed to consider this it seems.

I'm out.

[minerpart]

And yes, that line needs to be removed. No longer part of the plan.

That was a quick turn-around. With respect, I think an exchange that could be holding millions of GBP of other peoples money needs to be run by a team with more credentials, track record, and business and life experiences than you currently have. This is already a high risk industry and you look like a high-risk proposition to me. Others might think otherwise, goodluck.

[Anotheranonlol]

Will you be leveraging payment processors (e.g Mayzsus FS) or trying to negotiate with banks directly yourself for processing deposits and withdrawals of GBP?

[Anotheranonlol]

Will you be leveraging payment processors (e.g Mayzsus FS) or trying to negotiate with banks directly yourself for processing deposits and withdrawals of GBP?

We have already got a bank account directly. Although we may get some payment processors in reserve.

I'd imagine your accounts would be frozen pretty swiftly. Perhaps a crypto-only exchange is an easier task to accomplish

[sporket]

Any reason you're selling off multibet.io domain name, your only other visible accomplishment on AngelList?  How much u lookin' to get?

https://bitcointalk.org/index.php?topic=582144.msg6363401#msg6363401

[sporket]

oic.  My mistake -- you mentioned it in your post.  How's that doing? 

[sporket]

^Nice.
Well, good luck with flipping domains and starting UK's only exchange.  And casino.
Heady times...

[mikaeldice]

larger chunk will be used on security auditing both the code, and the data center.

I did address security.

Can you provide more detail than "We will spend a chunk on security auditing"?  This one-liner has the feel of lip service.

[sporket]

^Much serious.
So business.
Wow.

[theMiracle]

**TheMiracle regrets not naming itself MrTheMiracle.  TheMiracle thinks "Mr" adds that mature je ne sais quoi to everything, like MrWDunne.

[theMiracle]

Wait, don't tell me you're serious?  Your partner, the other financial mogul, gambles away bitdust he collects at coin faucets.  When he's not worshiping Satan in his shower cap, that is.  But... you're supa serious?

[theMiracle]

Yeah, the esteemed co-founder of UK's premiere Casino-n-Exchange, exactly.  Bro, are you telling me you're seriously expecting people who have money to ...give it to you?!  WHY FFS?

[sporket]

The intertubes are contaminated with a virus, that's what it is!  He's sick!  Hang in there OP, everything will be fine, we're sending halp!

[sporket]

He, and you, are treated with all due respect.
A cursory glance through his posts is enough to tell me all I need to know.
Only an idiot would trust him, or any "business" he co-founds.
And now every petty scammer, no matter how inept, demands respect.
Christ.

[MrWDunne]

He, and you, are treated with all due respect.
A cursory glance through his posts is enough to tell me all I need to know.
Only an idiot would trust him, or any "business" he co-founds.
And now every petty scammer, no matter how inept, demands respect.
Christ.

He is not handling anything on the business side, he does not even reside in the same country as myself. As previously stated he is a developer.

And what makes you say that he is a scammer? I would like to see even a mention of him scamming anyone.