Topic: Any Upcoming Start-ups? (Read 8016 times)

Hi All,
We are coming up with Crypto currency in India, We raised seed funding and lot of coding is done

We are able to convience few of the top online ecommerance sites to accept Laxmi Coin


Please support us and here is our opencoin.in Link

http://opencoin.in/general-laxmicoin-discussion/laxmi-coin-for-india-and-international-market/

and Bitcointalk.org link

https://bitcointalksearch.org/topic/laxmi-coin-for-india-and-international-market-287485

Looking for support from everyone

Thanks, Mitts

I will try to keep things SIMPLE and in retrospective of a common man especially in INDIA who knows a little bit about how a currency works and how a normal forex trading works.

First why price rises : The price for any given currency won't remain the same.

Lets say I have 100 Green colored bucks (not mentioning any particular currency) AND lets say I want to sell these and get 120 RED colored bucks NOW because you are buying it from me and I am demanding a profit (of +20 red colored bucks).
THIS Profit level is determined by me as I am the seller and this is what I think I can make off of my green colored bucks.
KEEP IN MIND that initially the green & the red bucks were equal in value but as soon as I sell it at this price my Green Bucks become +20 more valuable than the buyer's Red bucks.
FOR the price of the currency to actually move up (or for me to actually sell my green bucks at this profit) there needs to be MORE BUYERS WITH RED BUCKS than sellers like me with GREEN BUCKS... ONLY THEN the price of my Green bucks move UP.

NOW why does the price of a currency fall ?

Simple if there are more sellers than buyers for my currency the price will fall.

The same logic can be applied to the Bitcoins as well considering the fact that Bitcoins are also a CURRENCY.

SINCE Bitcoins are fairly 'new' as a 'self sustaining currency' there are a lot of speculations that play into the factor of rising it's value or crashing it, market speculations etc etc.. JUST like a normal currency.

Remember that Buyers are people that want something that is in a limited supply. So when the demand is High AND the supply is low (or constant) the price rises higher.

In Bitcoins case the supply is always limited atleast till 2140 so it's value can be comparable to Gold.


No not a physical home address but YES a lot alike and almost similar to an email address. Only difference here is that you get only payments as transaction and no 'emails'. These addresses can easily be generated by a Bitcoin wallet for free of cost. And you get your very own personal Bitcoin wallet that you can host on your computer from www.bitcoin.org



You can spend these bitcoins at any merchant's store that accepts Bitcoins. Currently there are a very few number of international websites where you can buy with bitcoins but no Indian ones.
Its almost like paypal that is until RBI banned them. It is new it will take time to find acceptance.



To be honest there is no real advantage in buying one currency against another unless you know that there is a huge boost to the value of that particular currency coming in the near future. With Bitcoins the Price has risen from mere cents to $200+ over the small life time it has lived so far and there is still more to come. But if you really get to the core of the coins then I can say bitcoins are great because there is no Third-Party Seizure which means that even the governments can’t freeze someone’s wealth, and thus the Bitcoins owners will have complete freedom to do anything they want with their money. The next great thing about bitcoin is that there are No Taxes here, other than voluntary donation; there is also no way to track a transaction other than a publicly announced bitcoin wallet address that links the owner of the wallet to all the transactions that occur on it.

But the most alluring fact to any merchant should be that in the bitcoin world there are No Risk of “Charge backs”.

I mean isnt this the reason why people / merchants hate Paypal or credit cards ??

I think these reasons are more than enough to describe how cool Bitcoins really are.


I personally dont think Bitcoins will ever replace the paper currency. I mean just because the Internet exists doesnt mean no one uses the SW radio or the Post or paper-mail (bills/home posted bank statements/letters etc) .

But it WILL take over the online world very very soon. Just imagine you can send your money from one country to another without paying ANYONE in between not even the governments. This way if you want to buy something in USA being in India, you will be paying for the EXACT price of that commodity & nothing extra (other than the shipping offcourse )

But again in terms of a common man : An Indian worker working in Dubai can send money directly to his home without paying ANY KIND OF TAXES.



Bitcoin is the future of finances online and perhaps offline.

Quote me if you want to.

I m going to quote www.bitcoin.org



If I DONT Win, just Donate I know you love me 1BrKv9h8RE5ovoJDDpJ6yaQom2RTYDbdNA

No idea about icici but on axis bank it's 200 rupees something fees for per inward remittance.

"Withdrawals
Wire transfers are currently taking up to 1 week to process due to the volume of withdrawal requests in queue.

If your withdrawal is larger than 10,000 USD (equivalent), it will take at least 2 weeks to process.

Withdrawals typically take 2-5 full business days to reach your bank, provided that you have included all required information such as your full name and address as it appears on your bank statement.

Mizuho bank charges a fee of 2,000 Yen for the withdrawals."

https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

2000 YEN is around 20$ now.

Do you have an idea about the kind of fees for wire transfers? I'm asking coz I'm finishing with an app which accepts only cryptos (Bitcoin, Litecoin etc) and I want to withdraw after a certain threshold. But I have no idea about the wire fees (I have HDFC/Axis bank accounts). If the fees are too high, then I can withdraw in big chunks rather than withdrawing for each transaction.

Indian can do trading on mtgox and other trading sites, there's no resctriction about that, main problem is you can't deposit/withdraw fiat easily as international bank wire fees is quite high.

1) What are the barriers faced by Indians (residents) that prevent them from trading on MtGox ?

I trade on MtGox. There is 0 chance I will trade on an exchange that charges 3% each way. Just to enter and exit a trade, it's already a 6% hit.

I used to be a market maker on Bitfloor when it was around. Bitfloor actually paid liquidity providers for each transaction, rather than charging. That's the way to add liquidity to your exchange, especially when you're just starting.

x) Traders. They do not operate in India. They directly work with MtGox, Bitstamp and X, Y, Z. But normally does not worrk with C in above. Why ? Well the % cut of c in India is a bit ted high for them and they can not justify it. They do a good volume, more than 50 BTC for sure. If you want to open exchange try to eye them. It will be very hard for you to get them in as they are used to work with liquidity which will be chicken egg problem for you.

^ This.

Bitcoin Going UP = Greed = BUY BUY BUY
Bitcoin Going Down = Fear = "SELL SELL SELL"

On a sidenote take an appointment from dr.fontas he will tell you more about pumping/dumping.
 

pls elaborate or post any helpful link. Where do you get bitcoin stats for da analysis?

pls elaborate or post any helpful link. Where do you get bitcoin stats for da analysis?

statistical forecasting

If you ask Warren Buffet, he will have a very simple answer Greed and fear.

What makes the price go up or down?

What makes the price go up or down?