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Title: Low liquidity exchanges or p2p Post by: jago25_98 on December 15, 2012, 06:21:13 PM What would be required in order to have an exchange that holds no balance of it's own, or vastly minimizes the balance it holds?
- so you send your fiat or BTC and it gets converted as soon as it arrives for example - or you pledge an trade, script something to autosend from a balance on your own computer but can still back out if you wish to cancel the process - or simply automated payout to a preapproved or locked address/account Problems I can foresee include: - slow fiat system transfers - slow bitcoin system transfer (confirmations) But it could be a good setup for people who want the cash on the exchange for as little as possible. I still think exchanges are an accident waiting to happen or of course, have happened. Any funds you have involved with an exchange is as bad as a bank.. maybe even worse - completely against bitcoin. Any dealing with an exchange is against bitcoin. Q: How many BTCs are held at exchanges? It could be argued that this is not Bitcoin. Title: Re: Low liquidity exchanges or p2p Post by: casascius on December 15, 2012, 08:19:43 PM Look at some of my recent posts including an offer where I've offered to pay for BTC blindly sent to me (and successfully done so).
I touch on my thoughts as to how developments and extensions to that idea could serve as a distributed exchange that could work for more than just me, if a good cryptography-based escrow scheme were involved. Meanwhile I'm putting effort into introducing one. In short, I believe an exchange that doesn't touch money - or perhaps something better described as an orderbook and escrow service - could do exactly what you have in mind. |