I plan on creating a site that allows the clients to (without signing up) "swap" a certain amount of BitCoins. In short though, it is just an online currency. Basically, the client would send in x amount of bitcoins. Their amount would be switched with another persons count. This would give client a's bitcoins to client b and vice versa. Basically, you would risk the chance that you could swap your coins to get more. There would also be the chance that you would get less. The chances of getting more would be higher the more coins you offered up.
This also sounds like gambling and was wondering how legal this would be? I live in North Carolina so naturally, I would be hosting it from my own computer in NC.
I would be getting profits from the users that risk their BitCoins. I might take a small fraction of the coins risked (A single BitCoin can be divided quite a bit).
The other problem is, BitCoins have an approximative USD worth of $8.5 each. Would this change the legality of this?
- Is this gambling?
- Is this legal in the United States of America?
- Is this legal in my current state (North Carolina)?
- Do you think this is a decent business idea?