You can do that as long as you accept you'll only ever be able to deposit and withdraw BTC. In fact I think there is already a broker (note not an exchange) which will let you do this: http://bit4x.com/AFAIK MT does not make assumptions about how you get money in and out. If you have questions about it, you should ask kakobrekla on #bitcoin-assets, he's behind bit4x Also, like I said, the tech is about 5% of the work required for an exchange, and you already seem to have lost quite some time by re-doing everything yourself, the business part is the tough part. If you have to learn it by yourself then so be it, but I strongly suggest you pay very close attention to this particular piece of advice. you can always give critical analysis. amazing. |
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The problem here is that even a sound p2p solution emerges, it will still have to depend on some sort of "gateway" (a term used by ripple). Yes, gateways do become the next CPoF (Central Point of Failure) if you move your exchange to software, I understand. The challenge then would be to find a way to create gateways that simply cannot be shut down, such as being too numerous or completely anonymous.  I think we're moving along to that direction. |
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The updates that you've linked does not mentioned anything about the student aid. If wasn't for this post, will you even bother posting an update and the original fund raising post, nor update your blog. How can you raise fund publicly and not provide an update on how you intend to use the fund?
I've said enough on the original post on how do I intend to use the fund. I don't quite understand your point that my blog is not "publicly" seen? You can read Chinese, and you've read all the post, how could you conclude "The updates that you've linked does not mentioned anything about the student aid." -- please read again: http://lixiaolai.com/first-public-charity-donation-in-china-for-lushan-finalHow were the 30 students selected to receive the student aid? Have the 30 students already received the aid? Would you provide any evidence for the action?
They've already received. YES, I'll provide adequate evidences. In your fund raising post, you have committed to "promise that all funds will be spent on rehabilitation of lushan." Do you think student aid is an appropriate way to use this fund? YES, I think it's appropriate. I'll elaborate in the final update in the original donation post. Anyway, it is getting off-topic. Please post your updates (and evidence if any) in your original fund raising thread to close the loop. I have done my whistle blowing, and will not post any more on this matter. Please keep watching the original donation post. |
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AsicMiner and Google has a distinction, and peatio.com will be pretty different from both of them. Mr. Li, we owe you a lot of thanks for your many efforts in China, so I hope you understand that I am not attacking your business when I say the following... But no one wants another Exchange! We've got too many exchanges right now, and the problem with every last one of them is that if a government wanted to, it can land helicopters nearby and shut it down. Washington, Beijing, it really doesn't matter which... Some state will eventually be made by the banking cartel to do so. So I don't see any point in "public ownership" and especially no point in an exchange being hosted on a website. To make an exchange that cannot be shut down, you simply must follow BitTorrent's design of a SOFTWARE APP to host the exchange within. Otherwise, what's the point? The problem here is that even a sound p2p solution emerges, it will still have to depend on some sort of "gateway" (a term used by ripple). |
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So, it's 100% publicly owned ?
Because the shareholder own it ?
So how is it any different than any other exchange owned by its shareholders ?
Totally agree. if an exchange is 100 percent public owned, it's in essence another form of p2p.
Is AsicMiner a p2p mining team? Is Google a p2p search engine? Is BMW a p2p car company? WTF. you should think harder. And "WTF." is a nice indicator. AsicMiner and Google has a distinction, and peatio.com will be pretty different from both of them. |
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Will Mr Li or John help to clarify the state of the fake fund raising incident - https://bitcointalk.org/index.php?topic=181336.0 before going on to raise more money from the public? I don't think Mr Li is a trustworthy person and have the right credential to carry out any IPO. Before accusing me of "fake fund raising incident", you should check out links below, since you can read Chinese: http://lixiaolai.com/first-public-charity-donation-in-china-for-lushanhttp://lixiaolai.com/first-public-charity-donation-in-china-for-lushan-2nd-phasehttp://lixiaolai.com/first-public-charity-donation-in-china-for-lushan-3rd-phasehttp://lixiaolai.com/first-public-charity-donation-in-china-for-lushan-finalHere's a a brief explanation of the fund (I'll update a detailed explanation in the original post in English, within next week, when everything is settled.): As of the fund raised ( https://blockchain.info/address/15EhGBC8JBBVDKQ9yp1AqCb1xnzQLk6QHX, 32.54618228 BTC), as promised, I "exchanged" (that is, I used my own fiat money) the amount to RMB with the highest rate during the donation period, $169/BTC, equivalent to RMB 33,000. One of my friend later added RMB 20,000. The final amount of donation is equivalent to RMB 53,000. And as promised, I spent no money on traveling, hoteling, dining, etc. All the donation fund (53,000) will be sent to the students we'll support. Now, RMB 15,000 was sent to 30 students from poor families in LuShan, as a student aid. Each of them only needs RMB 500 per year to pay for their tuitions. And we'll find more poor students to support next year, using the rest amount of RMB 38,000. (or perhaps we could find more students qualified in the near future, which needs volunteers work continuously.) I'm building a website with one of my friend, named bitstudentaid.org (not launched yet, in development), planning raise more fund to support poor students in China in the future. I hope I've given you a very clear explanation. However, I'll post a much more detailed update of the fund, and of the ongoing suite: bitstudentaid.org. |
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I just hate that .io domains are much too expensive...
If 100$/year is too expensive for you, I strongly suggest you rethink your whole project.  I found this on nic.io: An applicant must be resident in the British Indian Ocean Territory. ...which means I'm not qualified... |
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I just hate that .io domains are much too expensive...
If 100$/year is too expensive for you, I strongly suggest you rethink your whole project. not too expensive for me, too expensive relatively. |
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Lemon: I'm curious about why you don't show any progress after such a long period?
the site is still same as two months ago. you are wasting time or investors' money? you should give a clear answer.
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I just hate that .io domains are much too expensive...
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100% public owned, doesn't have to mean 100% shares are available on IPO. The initial investor has to get some shares, and the rest shares will be sold through two stages, details of which will be release soon.
Well then, it's not 100% public owned. Appears more and more misleading the more we start scratching the surface. You drove me to figure out a way, and I promise you that shares will be 100% available when IPO. Sincerely THANK YOU. |
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Just to pop in and say that I'm one of the investors here in the bitfund.pe fund, and have faith in lixiaolai.  He's somewhat a bitcoin leader in China. Thank you for support, John. And criticisms from @davout is very interesting and helpful for me to rectify our business plan. I'm struggling to make it better. I sincerely invite davout contact me on gtalk: lixiaolai@gmail.com, I would be very grateful if davout offers more advices. |
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-The creators of the exchange will buy shares on the market like everybody else.
Quoted for later. I think what @GGGGG said might a little bit misleading. sorry for that. When the business plan releases, the IPO structure will be made clear. 100% public owned, doesn't have to mean 100% shares are available on IPO. The initial investor has to get some shares, and the rest shares will be sold through two stages, details of which will be release soon. |
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Will the client be opensource? should be. |
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bitfund.pe looks interesting however it wants me to kick in 1btc to become a revolutionary!lol
OH, that's not a fee, it's only used for activate your account, and after activation, the 1BTC still belongs to you. |
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As bitcoiners are calling for a true p2p exchange, I figure out another direction: if an exchange is 100 percent public owned, it's in essence another form of p2p. http://peatio.com- The team was assembled, and are now working.
- The project is funded and supported by https://bitfund.pe. (..., which is the 11th project in the portfolio of https://bitfund.pe)
- The first market will be China, one of the biggest markets in the world. (The next market will be nominated by share holders.)
- The exchange will have a client, with desktop and mobile edition. (more details will be updated)
- The exchange will sell all of its shares to the public.
- Every country or area will have it's own subdomain, cn.peatio.com, kr.peatio.com, jp.peatio.com, us.peatio.com, etc. and should have its own 100% IPO, since local traders should own local exchange.
- Once launched, the exchange will pay out dividend on a daily base.
- The shares will also be exchanged on its own site.
- The funding process will be open within two weeks, which will be parallel to the development. And the shares selling will be escrowed by John. K, or using
- a mechanism of the distributed contract ( https://en.bitcoin.it/wiki/Contracts )
@GGGGG is responsible to give more on announcements of peatio.com and https://bitfund.pe------------------- UPDATE 2013.06.24A new domain acquired: peat.io [thanks to the advice from @coinage and @davout, https://bitcointalk.org/index.php?topic=239416.msg2541072#msg2541072] UPDATE 2013.07.27Public Alpha test will start from 00:00 (GTM+8), July, 28. http://peat.ioNo real transactions, amounts given in the account are just numbers. |
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