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Title: non-profit bitcoin exchange Post by: lemonginger on June 19, 2011, 11:19:27 PM -community funded
-open-source -all profits get reinvested in both exchange and large bitcoin development efforts -- could be a good way to bootstrap bitcoin development in terms of being able to offer bounties, pay coders, etc and also have an open-source exchange. Title: Re: non-profit bitcoin exchange Post by: sirius on June 19, 2011, 11:23:44 PM Running an exchange takes more time than anybody can give out for free.
Intersango (https://gitorious.org/intersango/) is the open source exchange platform developed and used by Britcoin. Title: Re: non-profit bitcoin exchange Post by: lemonginger on June 20, 2011, 12:11:37 AM I have a job at a non-profit.
I get paid. Title: Re: non-profit bitcoin exchange Post by: phantomcircuit on July 20, 2011, 01:14:50 AM -community funded -open-source -all profits get reinvested in both exchange and large bitcoin development efforts -- could be a good way to bootstrap bitcoin development in terms of being able to offer bounties, pay coders, etc and also have an open-source exchange. Fyi you've basically just described the bitcoinconsultancy.com Title: Re: non-profit bitcoin exchange Post by: lemonginger on July 20, 2011, 01:17:39 AM cool thanks for heads-up!
Title: Re: non-profit bitcoin exchange Post by: nakowa on July 20, 2011, 02:31:45 AM Should not be against to profit.
Title: Re: non-profit bitcoin exchange Post by: terroh8er on July 20, 2011, 06:04:22 AM Should not be against to profit. Supporting a non-profit isn't the same as being anti-profit. I think it would be a great opportunity to expand the community and would increase competition. Let's face it, MtGox could use some. Title: Re: non-profit bitcoin exchange Post by: Bitcoin_Silver_Supply on July 20, 2011, 06:07:36 AM Non-profit does not equal "anti-profit." Without charities laissez-faire advocates would have no means of furthering their arguments.
Title: Re: non-profit bitcoin exchange Post by: repentance on July 20, 2011, 07:16:50 AM Should not be against to profit. Supporting a non-profit isn't the same as being anti-profit. I think it would be a great opportunity to expand the community and would increase competition. Let's face it, MtGox could use some. Based on the volume over the last couple of days, TH is giving MtGox a serious run for their money now. Non-profits typically need to be incorporated in some way and are subject to government scrutiny. Someone needs to be responsible for all of the back-end stuff and that someone will have legal responsibilities. We've seen what happens when an exchange gets significant volume and only has a couple of staff. You'd need to employ paid staff as well as attract initial funding to get it up and running. It's not a bad idea but it needs a significant lead time to be executed well and some serious upfront funding. Title: Re: non-profit bitcoin exchange Post by: wumpus on July 20, 2011, 07:20:53 AM Yeah; unless you find a way to make the exchange truly distributed, so that anyone can run a node and take part of the burden in bandwidth/responsibility, I don't think it is feasible to have an institution like this non-profit.
Title: Re: non-profit bitcoin exchange Post by: bracek on July 20, 2011, 08:41:34 AM would it be possible to make something (p2p application) that would be distributed on miners computers ?
they would host it , and through that network to run the exchange Title: Re: non-profit bitcoin exchange Post by: davout on July 20, 2011, 08:46:32 AM would it be possible to make something (p2p application) that would be distributed on miners computers ? https://github.com/macourtney/Dark-Exchangethey would host it , and through that network to run the exchange Title: Re: non-profit bitcoin exchange Post by: frozen on July 20, 2011, 08:59:18 AM Without charities laissez-faire advocates would have no means of furthering their arguments. False. The (theoretical) absence of charities would still fail to justify violence against peaceful individuals. The only "laissez-faire advocates" that are unable to further their arguments in the absence of charities are those that haven't based their conclusions from first principles. When you work from first principles, the conclusions don't matter. Title: Re: non-profit bitcoin exchange Post by: phantomcircuit on July 20, 2011, 12:02:47 PM would it be possible to make something (p2p application) that would be distributed on miners computers ? https://github.com/macourtney/Dark-Exchangethey would host it , and through that network to run the exchange Dark exchange is basically just a very complicated #bitcoin-otc Title: Re: non-profit bitcoin exchange Post by: imperi on July 20, 2011, 12:14:55 PM would it be possible to make something (p2p application) that would be distributed on miners computers ? they would host it , and through that network to run the exchange How would you transfer the dollars? Title: Re: non-profit bitcoin exchange Post by: lemonginger on July 20, 2011, 02:33:51 PM it doesn't need to be technically incorporated as a non-profit. The essence of what I was proposing is that there is still a need for a well-run and transparent exchange and exchanges have the potential to make a lot of bank. An exchange that was run on a transparent open-source platform and essentially funneled its profits into the bitcoin community in terms of funding other projects would, I think, enjoy huge popularity among bitcoin users.
In any case, it appears bitcoin consultancy is pretty much using part of that model with Intersango. A bitcoin credit union could essentially work the same way. |