Thinking outside the Gox

[Amitabh S]

Its time we figured out a truly decentralized way to exchange btc for fiat. Title is not typo.

[WinVery.com]

Bitcoin isn't magic, it is genius.  The exchanges need to be the same.

[strikegold]

"Rome wasn't built in a day"  Bitcoin is an experimental, decentralized digital currency 

[Amitabh S]

Lets make the experiment a success

[Ekaros]

Decentralized exchange is rather harder problem than bitcoin. Atleast if you want it to work on resonable time intervals. P2P trading could work, but the moving of fiats is rather slow and then there is trust issues...

Only real solution is more good exchanges with each having smaller part of the pie...

[OlgaA524]

Decentralized exchange is rather harder problem than bitcoin. Atleast if you want it to work on resonable time intervals. P2P trading could work, but the moving of fiats is rather slow and then there is trust issues...

Only real solution is more good exchanges with each having smaller part of the pie...

And maybe various types of exchanges where people can find person selling or buying bitcoins; start dialogs personally and agree on delivery mechanism on their terms and taking risks they are willing to take.

[bitlancr]

Decentralized exchange is rather harder problem than bitcoin. Atleast if you want it to work on resonable time intervals. P2P trading could work, but the moving of fiats is rather slow and then there is trust issues...

Only real solution is more good exchanges with each having smaller part of the pie...

And maybe various types of exchanges where people can find person selling or buying bitcoins; start dialogs personally and agree on delivery mechanism on their terms and taking risks they are willing to take.

An escrow type system could work - where traders settle any fiat debts outside the system, and Bitcoin balances are locked until settlement. Make the code to handle all this free and open source, then lots of exchanges can spring up easily.

[OlgaA524]

Decentralized exchange is rather harder problem than bitcoin. Atleast if you want it to work on resonable time intervals. P2P trading could work, but the moving of fiats is rather slow and then there is trust issues...

Only real solution is more good exchanges with each having smaller part of the pie...

And maybe various types of exchanges where people can find person selling or buying bitcoins; start dialogs personally and agree on delivery mechanism on their terms and taking risks they are willing to take.

Such exchanges would have sellers accounts and would have nothing to do with actual transfers. Though the sellers would be rated like on Amazon, Ebay etc. E.g. if person always delivers what's promised 10 stars and if not - bad rep accordingly. But how the Bitcoin/fiat exchanges hands is up to the trading parties - it could be dollars in mail envelope, bank transfer, service, whatever.

[dogisland]

Decentralized exchange is rather harder problem than bitcoin. Atleast if you want it to work on resonable time intervals. P2P trading could work, but the moving of fiats is rather slow and then there is trust issues...

Only real solution is more good exchanges with each having smaller part of the pie...

And maybe various types of exchanges where people can find person selling or buying bitcoins; start dialogs personally and agree on delivery mechanism on their terms and taking risks they are willing to take.

Such exchanges would have sellers accounts and would have nothing to do with actual transfers. Though the sellers would be rated like on Amazon, Ebay etc. E.g. if person always delivers what's promised 10 stars and if not - bad rep accordingly. But how the Bitcoin/fiat exchanges hands is up to the trading parties - it could be dollars in mail envelope, bank transfer, service, whatever.

Like this for instance ? https://www.bitcoinary.com/

[fredi173]

Lets make the experiment a success

+1

[Peter Lambert]

Its time we figured out a truly decentralized way to exchange btc for fiat. Title is not typo.

You don't like it, then do something about it. There is still plenty of room in the exchange market if you do things right.

Start with a clear understanding of the legalities of handling multiple currencies and transferring those around the world. This will require legal and accounting expertise.

Build up that a technically sound exchange platform. This will require programming and networking expertise.

Get the community to use your platform, people will gravitate toward the largest bitcoin exchange because it will have the best liquidity. This will require marketing expertise.

Thus if you can get a good legal, accounting, programming, networking, and marketing team together and build the ideal bitcoin exchange, then MtGox will shrink into the background and you will control the bitcoin marketplace.