Topic: Developing an exchange - business advice required - page 2. (Read 1672 times)
You already failed the first test : "you should not reinvent the wheel", especially when quite a few open-source wheels already exist.
I would also point out that you will need amazing contacts to actually run an exchange and not get shutdown. What new value are you bringing to the table that is better than the competition?
First of all, you face stiff competition from an open source exchange that is already being developed based upon the LMAX arch. which is already going to be the fastest thing out there. They are organized, have money, and support of the community and bitcoin media has already covered them. (Don't remember the name right now).
If you are a talented c++ developer then perhaps you will want to invest your time helping to develop the Invictus / BitShare P2P exchange.
https://docs.google.com/document/d/1RLcjSXWuU9vBJzzqLEXVACSCdn8zXKTTJRN_LfoCjNY/
If you are a talented c++ developer then perhaps you will want to invest your time helping to develop the Invictus / BitShare P2P exchange.
https://docs.google.com/document/d/1RLcjSXWuU9vBJzzqLEXVACSCdn8zXKTTJRN_LfoCjNY/
Hmmh...I know someone in a country with less strict regulations. Maybe it would be smart to partner with such a person...
btceic: ms connection times require a private net? And if the sources are open, how do you keep your competition from using them to start a similar exchange?
monsterer: I have a similar problem, but I work on trading software. I released a part of it as opensource, but I don't have a good overall solution yet...
btceic: ms connection times require a private net? And if the sources are open, how do you keep your competition from using them to start a similar exchange?
monsterer: I have a similar problem, but I work on trading software. I released a part of it as opensource, but I don't have a good overall solution yet...
Here are my requirements for the best exchange that I can think of:
- World Class Professionalism
- World Class Security
- Transparency
- True Market Making
- Community Involvement & Leadership
- User Friendly
- iPhone, iPad, Android Integration
- Documented API, with examples and more for the top 10+ popular languages
- Open Source
- Developer Friendly
- MT4/MT5 Integration
- Regulatory Compliance
- World Class UX/UI
- Separation of "ALL" Concerns, ex: separate the trading engine from the UI!!
- On par or better then NYSE, NASDAQ, AMEX, etc
- Distributed connection nodes via DNS etc. ala google etc.
- Sub millisecond connection times
Where are you living? What are the regulations in your country?
UK. Regulations would require registration as an MSB with HMRC FSA, compliance with anti-money laundering KYC rules and also a ruling on what bitcoin actually is.
Where are you living? What are the regulations in your country?
Hi guys,
I've been developing the technology required to run a bitcoin currency exchange (matching engine, api, back-end, front-end, the whole lot), but I'm primarily a developer rather than a business man - I'd like some advice on how I can turn this into something that I can live off.
Should I:
sell the technology
------------------
* open source everything, charge nothing, accept donations
* open source everything, then charge per month for varying levels of support
* keep it closed source, charge per licence
don't sell the technology, run the exchange under my own business
----------------------------------------------------------------
* seek investment, acquire all relevant MSB/KYC licences
* seek a business partner who is already licensed and experienced with MSB/KYC
I realise that there are varying levels of benefit to each one of these avenues, I'd like advice on whether I've covered all options and what the best route to creating a product which can sustain my business is?
Cheers, Paul.
I've been developing the technology required to run a bitcoin currency exchange (matching engine, api, back-end, front-end, the whole lot), but I'm primarily a developer rather than a business man - I'd like some advice on how I can turn this into something that I can live off.
Should I:
sell the technology
------------------
* open source everything, charge nothing, accept donations
* open source everything, then charge per month for varying levels of support
* keep it closed source, charge per licence
don't sell the technology, run the exchange under my own business
----------------------------------------------------------------
* seek investment, acquire all relevant MSB/KYC licences
* seek a business partner who is already licensed and experienced with MSB/KYC
I realise that there are varying levels of benefit to each one of these avenues, I'd like advice on whether I've covered all options and what the best route to creating a product which can sustain my business is?
Cheers, Paul.
Jump to: