Hi all, thank you all for the posts.
There's more interest in creating a bitcoin-based-business than creating an informational community, which is understandable because there are many business opportunities. What I'm proposing is that before any of you decide to approach customers with a business, we have to establish an informational database. Not only will it give all the entrepreneurs in the region information to fall back on, but it will help people understand Bitcoin is far more than the entrepreneurs' business. I understand that we all recognize it is a new form of money and it's tempting to want to build a startup so quickly but please understand that if your business takes off, and it is the only one in the region and it suffers from one issue or another, it will damage bitcoins' credibility.
I wanted to create an easily-understood free information before anything else. With this information we can collectively increase the market share of bitcoins in the region and its use, if you'd like to create your own business and use this information you will be free to do so. We have to start with education, a brand for BTC that isn't directly connected to the businesses that may come up soon, including exchanges.
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Do we do this individually or do we collaborate with translating Bitcoin.org and work with the bitcoin foundation?I was made aware of the interest for foreign workers because of the lack of fees they incur when they transfer money back home.
I understand people are bound to full numbers, I have also talked to several people nationals from the UAE and many were amazed by the returns they could have made but disregarded it. I had to start explaining money, then the world economy, then inflation and the petro-dollar, it became very political and I don't want it to be that way.
I make it very clear to them that I am not trying to sell them anything. If you approach somebody with your business and try to explain bitcoins then try to lead them to a sale people will lose trust in you, and bitcoins subsequently. I think you should be careful to advertise Bitcoin as a (high risk) investment instead of an alternative currency (even though it clearly is both).
There may not be enough interest to fully design and engineer a secure exchange - I've looked into designing/developing one but it is unlikely I will create one within the next year, maybe one of you will step up for the challenge. I am indeed thinking more at a local level. I am thinking 4-5 years ahead and what to do if the world economy takes Bitcoin to be something even more than it is today.
Wow certainly no shortage of talent in this thread and I wish you guys well. But I have to ask whether there are enough buyers and sellers in the ME to justify the cost of making and maintaining a trading engine for a full fledged exchange? Wouldn't it make more sense to start small and gauge interest with an OTC site?
Not at the current market, obviously only a tiny percentage of people use or understand bitcoins in the M.E. UAE and Egypt are currently the highest.
I am currently based in Lebanon and I'm interested in such a project.
I have previously held managerial positions in 2 of the region's most successful start-ups and have a good idea of how to tackle issues and plan strategically. Let me know if you're still interested and if there's anything we can do together.
Great, I am in touch with some Lebanese entrepreneurs for other projects but it would help to have like-minded individuals work together.
Thanks,