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Title: Why Can't We Have a REAL Exchange?! Post by: SlidingHorn on March 04, 2014, 02:34:52 PM This has become beyond pathetic:
Gox - Utterly incompetent, hacked & millions stolen C-Cex - Same story - but much less lost Poloniex - Same story as C-Cex How the hell are we ever to expect BTC to take off and become a respectable currency if no one can seem to secure a damn website on which to trade it? Title: Re: Why Can't We Have a REAL Exchange?! Post by: bennybong on March 04, 2014, 02:42:02 PM localbitcoins is the future..
Title: Re: Why Can't We Have a REAL Exchange?! Post by: traderman on March 04, 2014, 02:51:46 PM Distributed exchanges are the way to go. Every exchange is under constant attack on a daily basis. We need a decentralized exchange for crypto, that is the only way.
Title: Re: Why Can't We Have a REAL Exchange?! Post by: clownius on March 04, 2014, 03:05:58 PM Hell we lost a bank in the last couple of days too
http://www.flexcoin.com/ Beginning to think Bitcoin has a real problem here and i actually believe we need Bitcoin or something like it. For the general public this is something they wont want to go near unless its cleaned up somewhat. Title: Re: Why Can't We Have a REAL Exchange?! Post by: joehal on March 04, 2014, 03:43:52 PM How the hell are we ever to expect BTC to take off and become a respectable currency if no one can seem to secure a damn website on which to trade it? This. The whales and public should make an exchange. And all the btc experts should give their inputs. Title: Re: Why Can't We Have a REAL Exchange?! Post by: Rannasha on March 04, 2014, 04:06:45 PM Distributed exchanges are the way to go. Every exchange is under constant attack on a daily basis. We need a decentralized exchange for crypto, that is the only way. Decentralized exchanges aren't the holy grail that people make them out to be. Yes, they can be good for occasional trades (LocalBitcoins style), but as soon as you up the frequency of the trades, the speed at which a decentralized exchange can operate becomes a limiting factor. Forex-style exchanges such as Bitstamp, BTC-e, Kraken, etc... are necessary to provide sufficient liquidity in the market. Decentralizing this style of exchange is practically impossible. It becomes a matter of "secure, fast, decentralized. Pick two". You can have secure & fast, which would be a properly operated traditional exchange. Still, there is a single point of failure. You can have secure & decentralized, which is the decentralized exchange that most people talk about when they discuss this subject. It's just not fast enough for many traders though. Then you can have fast & decentralized, but that involves accepting zero-conf transactions and using instant fiat-transfer methods such as Paypal, which is definitely not secure. Title: Re: Why Can't We Have a REAL Exchange?! Post by: leopard2 on March 04, 2014, 05:06:38 PM We need a marketplace that got actual real world deposit insurance and regular auditing by an external auditing firm.
Not regulation, but insurance and auditing is key. And certification. KYP(rovider) not KYC Title: Re: Why Can't We Have a REAL Exchange?! Post by: lemfuture on March 04, 2014, 05:10:37 PM coinmarketio, crypto-trade, and more to come
Title: Re: Why Can't We Have a REAL Exchange?! Post by: CoinHoarder on March 04, 2014, 05:16:35 PM Even Btc-e is having problems. I went to go short what little BTC I have this morning because of all the bad news, and 10 confirmations later I still don't have access to my BTC and missed out on a $25 price swing. :(
I hope nothing serious is going on with btc-e... I'm gonna get my money off as soon as it clears. :-[ Title: Re: Why Can't We Have a REAL Exchange?! Post by: SlidingHorn on March 04, 2014, 05:26:25 PM We need a marketplace that got actual real world deposit insurance and regular auditing by an external auditing firm. Not regulation, but insurance and auditing is key. And certification. KYP(rovider) not KYC A true bitcoin/FDIC-equivalent (or, BDIC, if you will) is probably pretty unlikely to come through anytime soon. It's a great idea on paper, but there's a whole slew of regulation that would likely be required to implement it, and it'd cost a fortune to start. In terms of auditing, however, I whole-heartedly agree. All exchanges should have regular, independently-performed security & finance audits and publicly show the results. I doubt this would ever become a reality, but hey...here's hoping. |