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Author Topic: HOW TO CREATE A BITCOIN EXCHANGER?  (Read 1287 times)
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July 11, 2012, 01:01:07 PM
 #1

Hi guys,

Im iOS & i live in Indonesia.
I want to own & host a BTC exchanger.
This site operates to matches buyers with sellers of btc & it will only get a profit from the transactions fee.

What should i do to setup a btc exchanger?
What kind of software i should use?
How to run this "btc exchanger"?
What kind of source code that i should use from gifthub?
I see alot of refferences there, but i confuse to choose wich one is the secure & reliable coding.

Please enligth me!

If you have / host a btc exchanger,i really need your input & sharing your experience of running them.

Thank u & Regards
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John (John K.)
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July 11, 2012, 01:23:11 PM
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Most exchange sites have their own proprietary code so there's no source code except from the bitcoind interfacing stuff. Which system are you good at? Ruby on Rails or?

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July 11, 2012, 01:59:53 PM
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The code to https://bitcoin-central.net/ is open sourced if I'm not mistaken. PM davout on the forum and he should be able to steer you in the right direction.

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July 12, 2012, 07:45:42 AM
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Most exchange sites have their own proprietary code so there's no source code except from the bitcoind interfacing stuff. Which system are you good at? Ruby on Rails or?

Im not a proggramer,so i dont understand about coding stuff,
I only have a huge passion about BTC & want to bring them into indonesia,
All of your support will be helpfull.thx
John (John K.)
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July 12, 2012, 07:52:12 AM
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Most exchange sites have their own proprietary code so there's no source code except from the bitcoind interfacing stuff. Which system are you good at? Ruby on Rails or?

Im not a proggramer,so i dont understand about coding stuff,
I only have a huge passion about BTC & want to bring them into indonesia,
All of your support will be helpfull.thx
Then you'll be better off getting someone who knows his way around codes to set up the exchanger itself. Unless you want to set up an in person exchange like this one: https://bitcointalk.org/index.php?topic=88320.0

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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July 12, 2012, 08:50:51 AM
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you have 2 posts and you wanna create an exchange?

lol
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July 12, 2012, 08:56:29 AM
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The code to https://bitcoin-central.net/ is open sourced if I'm not mistaken. PM davout on the forum and he should be able to steer you in the right direction.

Ok thx for the info,i try to search davout here but cannot find it.
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July 12, 2012, 08:59:25 AM
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Most exchange sites have their own proprietary code so there's no source code except from the bitcoind interfacing stuff. Which system are you good at? Ruby on Rails or?

Im not a proggramer,so i dont understand about coding stuff,
I only have a huge passion about BTC & want to bring them into indonesia,
All of your support will be helpfull.thx
Then you'll be better off getting someone who knows his way around codes to set up the exchanger itself. Unless you want to set up an in person exchange like this one: https://bitcointalk.org/index.php?topic=88320.0

Is there any special requirments for to find this proggramer?  maybe he should know ubuntu / what..
I see the https://github.com/bitcoin/bitcoin , but i dont know wich file to start with first.. Huh
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July 12, 2012, 09:00:42 AM
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you have 2 posts and you wanna create an exchange?

lol

Dream big & get it bit by bit.
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July 12, 2012, 09:01:18 AM
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lolol

 Cheesy Cool
John (John K.)
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July 12, 2012, 09:08:29 AM
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Most exchange sites have their own proprietary code so there's no source code except from the bitcoind interfacing stuff. Which system are you good at? Ruby on Rails or?

Im not a proggramer,so i dont understand about coding stuff,
I only have a huge passion about BTC & want to bring them into indonesia,
All of your support will be helpfull.thx
Then you'll be better off getting someone who knows his way around codes to set up the exchanger itself. Unless you want to set up an in person exchange like this one: https://bitcointalk.org/index.php?topic=88320.0

Is there any special requirments for to find this proggramer?  maybe he should know ubuntu / what..
I see the https://github.com/bitcoin/bitcoin , but i dont know wich file to start with first.. Huh

You need this: https://github.com/davout/bitcoin-central . https://github.com/bitcoin/bitcoin is for the bitcoin client itself.
The guy needs to be familiar around a VPS/dedicated server, optimally Debian, and know Ruby on Rails plus MySQL stuff. And better find a good one - you don't want to wake up and see all the coins in your server stolen.

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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July 12, 2012, 09:13:04 AM
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The guy needs to be familiar around a VPS/dedicated server, optimally Debian, and know Ruby on Rails plus MySQL stuff. And better find a good one - you don't want to wake up and see all the coins in your server stolen.

I think this is why you might need to start with a smaller project first, iOS. When you are dealing with currency there's a good chance criminals will target you, especially if they think you'll be an easy target and you're getting some volume.

If you still decide to go ahead, security should be your top priority and first focus always. Good security is hard.

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July 12, 2012, 09:14:15 AM
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Most exchange sites have their own proprietary code so there's no source code except from the bitcoind interfacing stuff. Which system are you good at? Ruby on Rails or?

Im not a proggramer,so i dont understand about coding stuff,
I only have a huge passion about BTC & want to bring them into indonesia,
All of your support will be helpfull.thx
Then you'll be better off getting someone who knows his way around codes to set up the exchanger itself. Unless you want to set up an in person exchange like this one: https://bitcointalk.org/index.php?topic=88320.0

Is there any special requirments for to find this proggramer?  maybe he should know ubuntu / what..
I see the https://github.com/bitcoin/bitcoin , but i dont know wich file to start with first.. Huh

You need this: https://github.com/davout/bitcoin-central . https://github.com/bitcoin/bitcoin is for the bitcoin client itself.
The guy needs to be familiar around a VPS/dedicated server, optimally Debian, and know Ruby on Rails plus MySQL stuff. And better find a good one - you don't want to wake up and see all the coins in your server stolen.

Ok thanks John.
I will learn that link & find the guy first.
I'm planning to make it like gox / intersango though.
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July 12, 2012, 09:16:13 AM
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The guy needs to be familiar around a VPS/dedicated server, optimally Debian, and know Ruby on Rails plus MySQL stuff. And better find a good one - you don't want to wake up and see all the coins in your server stolen.

I think this is why you might need to start with a smaller project first, iOS. When you are dealing with currency there's a good chance criminals will target you, especially if they think you'll be an easy target and you're getting some volume.

If you still decide to go ahead, security should be your top priority and first focus always. Good security is hard.

May i know what kind of "smaller project" you have in mind?
Is there any guy that you can recommend for this security matter?
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July 12, 2012, 09:18:44 AM
 #15

Ok thx for the info,i try to search davout here but cannot find it.
He isn't very active on the forums, but I think that if he had some advice to give to you it would be : "don't".
The actual code that runs the exchange is the easy relaxing part. The hard part is all the rest.

Code = easy
Dealing with banks, accounting, security, customers, taxation, lawyers, monitoring, automation = hard & stressful

Make a solid plan and leave the code thing as the last thing you'll do.

And better find a good one - you don't want to wake up and see all the coins in your server stolen.
And I don't have time to provide personalized code-level support to potential competition Smiley


Grouver (BtcBalance)
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July 12, 2012, 09:21:11 AM
 #16

Wasn't the interango code also opensource?
http://gitorious.org/intersango/intersango

EdiT:
https://bitcointalk.org/index.php?topic=35812.0

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July 12, 2012, 10:11:25 AM
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Although there is a list of opensource exchanges here https://bitcointalk.org/index.php?topic=87836.0 I'm with the rest of the posters that are giving you advice to stay out of running the exchange by yourself, especially if you're not a coder and security specialist. Even if you manage to hire staff, as I see it you would need substantial volume to support the development, maintenance of solid security protocols, and all the back office procedures while dealing as a clearing house with your banking provider.

If you'd like to exchange bitcoins in person for a start, you could point your community to a project such as localbitcoins https://bitcointalk.org/index.php?topic=86012.0 and start from there without much risk and investment.

If you still persist on running your own, keep asking questions, think well and create the project structure, secure the project funds, and look for a dedicated team that you will be working with on a long term. Possibly a local team that you can manage, pay wages in local currency, bitcoin, or a share in company revenue.

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July 12, 2012, 10:33:13 AM
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you have 2 posts and you wanna create an exchange?

lol

Postcount doesn't mean that someone isn't up to doing something well. Some guys can do more with single post than some who posted hundreds and left nothing that one could learn from.

Quote from: TraderTimm
For me, bitcoin is freedom that I never thought I'd see in my lifetime.
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July 13, 2012, 03:45:32 PM
 #19

Ok thx for the info,i try to search davout here but cannot find it.
He isn't very active on the forums, but I think that if he had some advice to give to you it would be : "don't".
The actual code that runs the exchange is the easy relaxing part. The hard part is all the rest.

Code = easy
Dealing with banks, accounting, security, customers, taxation, lawyers, monitoring, automation = hard & stressful

Make a solid plan and leave the code thing as the last thing you'll do.

And better find a good one - you don't want to wake up and see all the coins in your server stolen.
And I don't have time to provide personalized code-level support to potential competition Smiley



Ok thanks for the input,i'll keep that in mind.
I think the same like u too,after the code is finish & setup,im thinking how & what to run this exchanger.
Yes it will be hard & stressful,but if the exchange run automaticly,
For example..we can drive the customer to do a deposit / withdrawl via bitinstant code,
Im sure we can minimize the hard & stressful.
Unfortunetly bitinstant havent available for my country currency.
Do u know where i can find bitinstant source code?

Thank u
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July 13, 2012, 03:49:32 PM
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Yes thank u,i've seen that.
I think maybe its their old coding,
Do you have any suggestion on what kind of security software i should use?

Thx & Regards
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