Abdrehman (OP)
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Activity: 8
Merit: 0
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June 24, 2014, 10:41:23 AM |
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Hi ..
Firstly .. My English is bad .. Sorry.
2ndly .. as mentioned above .. im willing to start a new bitcoin business .. the average transactions per day could reach 35,000 - 190,000 Transactions .. that is our target.
So we decide to deal with Coinbase for the first month or year .. and when we reach that target we would like to buil our own bitcoin exchange service ..
so what do you think the cost will be or the time .. i know its difficult but what it will take to have a website providing :
- Exchange service
- Wallet Service
- Merchant Payment Gateway ( similar to Coinbase ).
and so on ..
the website will be in another language .. and we are willing to spend quite good money ..
any positive comment will help .
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aosmith
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Activity: 50
Merit: 0
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June 24, 2014, 02:05:09 PM |
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Hi ..
Firstly .. My English is bad .. Sorry.
2ndly .. as mentioned above .. im willing to start a new bitcoin business .. the average transactions per day could reach 35,000 - 190,000 Transactions .. that is our target.
So we decide to deal with Coinbase for the first month or year .. and when we reach that target we would like to buil our own bitcoin exchange service ..
so what do you think the cost will be or the time .. i know its difficult but what it will take to have a website providing :
- Exchange service
- Wallet Service
- Merchant Payment Gateway ( similar to Coinbase ).
and so on ..
the website will be in another language .. and we are willing to spend quite good money ..
any positive comment will help .
First off what language are you planning on doing your implementation in? i18n features should help to make that pretty simple. When you talk about a merchant payment gateway are you talking about bank integration as well? There's little to no chance you'll find a bank willing to participate. SVB does coinbase's banking, but they won't even take on miners as clients. The exchange and wallet service are a few hundred hours of work, so I'd expect to pay $20-30k at the very least for that, perhaps more if you want it all done *right*. |
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rarkenin
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June 24, 2014, 03:19:31 PM |
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You need to also consider the cost of operating servers to handle an exchange.
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mmitech
Legendary
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Activity: 1148
Merit: 1001
things you own end up owning you
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June 24, 2014, 03:36:08 PM |
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from the user name I would suggest that the targeted market is the Arabic one, if I am right then PM and we can discuss this project. (PS: I am originally an Arab)
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zhinkk
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June 24, 2014, 06:57:12 PM |
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Would country would the website and business be hosted in? I'm no lawyer but the banking/legal side of it sounds like it could be an issue...
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Abdrehman (OP)
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Activity: 8
Merit: 0
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June 25, 2014, 03:47:20 AM |
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Hi ..
First off what language are you planning on doing your implementation in? i18n features should help to make that pretty simple. When you talk about a merchant payment gateway are you talking about bank integration as well? There's little to no chance you'll find a bank willing to participate. SVB does coinbase's banking, but they won't even take on miners as clients. The exchange and wallet service are a few hundred hours of work, so I'd expect to pay $20-30k at the very least for that, perhaps more if you want it all done *right*. languages are Arabic + English, if u mean programming language i hve no idea .. thats the programmer job The Cost is not An issue .. as long as the Quality of work can be Trusted by our clients. Payment Gateway .. Banks will be involved .. but not directly .. we will use Local Currency only .. they will not store bitcoin or deal with it .. we will sell and buy bitcoin .. what cash required to be transfered to Customers Bank account .. we will use the bank You mean SVB will not pay TX fee to miners ?? .. by they way .. i was thinking about hiring miners for our own transactions .. is that possible ? 20-30k USD is very fine and logical. |
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mmitech
Legendary
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Activity: 1148
Merit: 1001
things you own end up owning you
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June 25, 2014, 08:10:28 AM |
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Hi ..
First off what language are you planning on doing your implementation in? i18n features should help to make that pretty simple. When you talk about a merchant payment gateway are you talking about bank integration as well? There's little to no chance you'll find a bank willing to participate. SVB does coinbase's banking, but they won't even take on miners as clients. The exchange and wallet service are a few hundred hours of work, so I'd expect to pay $20-30k at the very least for that, perhaps more if you want it all done *right*. languages are Arabic + English, if u mean programming language i hve no idea .. thats the programmer job The Cost is not An issue .. as long as the Quality of work can be Trusted by our clients. Payment Gateway .. Banks will be involved .. but not directly .. we will use Local Currency only .. they will not store bitcoin or deal with it .. we will sell and buy bitcoin .. what cash required to be transfered to Customers Bank account .. we will use the bank You mean SVB will not pay TX fee to miners ?? .. by they way .. i was thinking about hiring miners for our own transactions .. is that possible ? 20-30k USD is very fine and logical. $20-30K will not get you anywhere with the size of this project, I think you don't know what you are dealing with, beside the technical side that has to be done (programming and administration), the legal part of the project is also important. and when the project is done and online, you need constant development, you need to hire a couple of developers to keep things going..... |
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eternalgloom
Legendary
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Activity: 1792
Merit: 1283
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June 25, 2014, 10:46:18 AM |
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I remember someone selling an existing exchange on this forum for something like 10 BTC.
Does anyone remember this and maybe provide a link to that topic?
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mmitech
Legendary
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Activity: 1148
Merit: 1001
things you own end up owning you
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June 25, 2014, 10:50:37 AM |
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I remember someone selling an existing exchange on this forum for something like 10 BTC.
Does anyone remember this and maybe provide a link to that topic?
I remember that as well, it seemed fishy to me ( he didn't sell it anyway) |
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peacefulmind
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June 25, 2014, 10:57:53 AM |
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lawls
this is hard: what you propose, if you have "big" money though as claimed, you should have no problems.
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"I think you are to hung up on this notion about 'pre-mining' being a No-No." - from journeys into the dark depths of the alt coin forum.... |
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Abdrehman (OP)
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Activity: 8
Merit: 0
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June 25, 2014, 12:04:55 PM |
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lawls
this is hard: what you propose, if you have "big" money though as claimed, you should have no problems.
As i said .. money is not an issue at all But i need to understand the technical side of this .. so i would know the technical budget i have to spend. the job will be on Stages .. i dnt want to build new Coinbase at once .. im planning to work on stages. like .. Stage 1 : Selling and Buying Bitcoins. ( Exchange ) Stage 2 : Developing new Wallet Stage 3 : Payment Gateway/Processor Stage 4 : Making BTC ATM's and so on .. if it will take 6 Months, one Year or 2 Years .. No issues .. as long as im Providing the Best Service Quality in My Region, Also put a big line under Service Quality, Safety and Security Would you help me arrange those steps please .. |
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Smack That Ace
Legendary
Offline
Activity: 1764
Merit: 1094
Eid Mubarak
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June 25, 2014, 01:07:02 PM |
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Hello,
Hope you are doing well.
We are currently working on the same ground that you are interested in.
Also residing and operating from U.A.E so i think we have some common issues we are facing.
I think we should have a skype chat to discuss this project further.
I have Pmed you details
Regards
Duke
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Smack That Ace
Legendary
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Activity: 1764
Merit: 1094
Eid Mubarak
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June 25, 2014, 01:11:58 PM |
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Hey
Also just another side note.
I dont know if your familiar with the concept of trolling but you should get ready to be trolled majorly.
Regards
Duke
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sameev29
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June 25, 2014, 07:38:03 PM |
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Hi ..
Firstly .. My English is bad .. Sorry.
2ndly .. as mentioned above .. im willing to start a new bitcoin business .. the average transactions per day could reach 35,000 - 190,000 Transactions .. that is our target.
So we decide to deal with Coinbase for the first month or year .. and when we reach that target we would like to buil our own bitcoin exchange service ..
so what do you think the cost will be or the time .. i know its difficult but what it will take to have a website providing :
- Exchange service
- Wallet Service
- Merchant Payment Gateway ( similar to Coinbase ).
and so on ..
the website will be in another language .. and we are willing to spend quite good money ..
any positive comment will help .
I recommend you Smack That Ace(Duke).He is one of e the best,smart and most honest guys here at bitcointalk.He made my multipool and he helped me in every step more than I wanted.Talk with him,I am sure he can work an offer out for you. |
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ThomasCrowne
Full Member
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Activity: 210
Merit: 100
★☆★ 777Coin - The Exciting Bitco
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June 25, 2014, 08:20:26 PM |
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Depending on where you are planning on hosting your site I suspect that you will find once you get to the exchange (if also supporting fiat and based in the states) you will find registration costs a bit cost-prohibitive. Like seeing the competitive spirit though. More competition for the more established players (bitpay, and coinbase) I think is sorely needed.
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Abdrehman (OP)
Newbie
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Activity: 8
Merit: 0
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June 26, 2014, 04:30:39 AM |
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Thank you guys for your offers and guides ..
i opened this topic to know if i can make a new site like Coinbase or not .. and what it will take to bring it live .
also i hope some one explain what is the stages that i should start with .. one by one
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rarkenin
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June 26, 2014, 09:43:06 AM |
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If you're not a programmer, I do not suggest investing your own time and effort into coding such a website. As a novice, you will not complete the site as quickly, will be restricted to idioms found in your textbook of reference, will have a more limited set of libraries that you could use (those that are heavily documented and don't use too many idioms in their use), and will not be able to respond to security threats as quickly as a seasoned programmer.
Find one, and help organize the business side of the website--how much to keep in storage, what kind of fees you'll impose, etc.
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