Quote from: MGUK on December 19, 2013, 09:58:36 AM

Please please PLEASE, unless you're going to do it properly (at least a high 5 figure budget) just don't do it. Last thing cryptocurrencies need is another exchange to fail and get hacked because you feel like setting up an exchange.

High 5 figures is honestly laughable. You need an ops guy, at least a couple devs, and at least one legal guy. You can't get any of those guys for less than 80k a year, and spending 100k will get you much better candidates (and therefore much more likely to actually succeed). Those guys need benefits, or they're going to go somewhere else, so that's another 40k each. You're looking at over 500k in the first year just for salaries of the core employees.... and yes, again, you want salaried people, not contractors or freelancers. Contractors don't magically produce maintenance-free code. You'll have bugs and new features and all that... there's never a time when developers are short on work, so you might as well have people who are invested in making the company succeed.

Software development is expensive. Really really expensive.