Let's Create a Better Site!

[AgeraS]

I want to create a site that is better and beyond Mt.Gox. Let's face it, if Mt.Gox goes down we are all in trouble. Sure there are other exchanges, but why not create a site that gives Gox some real competition.
While I am not a programmer, I am an entrepreneur of means. I want the Bitcoin community to play a part in creating this exchange; so post what you think this exchange ought to offer to customers.
Programmers that are interested in participating, please PM me.  
 
I'll start with what I think this exchange ought to offer. (These are just in my opinion, and are by no means absolute.)

Better written code
Better security
The ability to handle large traffic
Incorporate derivatives trading, like Fireball's ICBIT.se
Multilingual: The site should be in the top trading languages, English, Misc. European languages, Chinese, etc..

[1714152546]

1714152546

[1714152546]

1714152546

[AgeraS]

Very early morning thought. Why not have a one-stop-shop, like a wal-mart for Bitcoin.

This exchange could have derivatives, exchange, trade, gambling all-in-one place. It would be a place where no matter what you are looking to do in terms of speculating/investing/needing Bitcoin, we would have the solution. Bad Idea...

Also, I already have the money to fund the coding of this exchange, so what functionality do you peoples want?

Any thoughts?

[W-M]

I'm sorry, but this is an absolutely HUGE project. Creating an exchange is EXTREMELY hard and will take FOREVER to complete. Creating an all-in-one place will obviously take even longer.

I doubt you have enough money to get this in place. I also want to say that the unreliability that MtGox frequently suffers from right now is happening because of so-called DDoS attacks made by hackers. It's not something a website can really protect istelf against, with the exception of using a server that can handle more connections at the same time.

[AgeraS]

I'm sorry, but this is an absolutely HUGE project. Creating an exchange is EXTREMELY hard and will take FOREVER to complete. Creating an all-in-one place will obviously take even longer.

Okay thanks for the input, back to original idea; Create an exchange to give Mt.Gox real competition. Our site needs to handle more traffic, have better security, and be in the most common languages of the most commonly traded currencies.

Anyone have other thoughts that would help make us better than Gox?

[nwbitcoin]

Actually, it isn't as difficult as some say!

Firstly,you host the website within a data centre that can handle stupid levels of traffic - like Amazon Web Services

Secondly, you split your requirements into manageable goals - list what it is you like about MT Gox, and what you hate, and clarify what you want to do to make it better.

Me?  I want no delay regardless of load.  What it looks like is not that important if it makes me money!

If you want an exchange to start with, here is an open source one to use as a template.
http://gitorious.org/intersango

The first rule of being better than your competition is to start doing something - Think of Google, it has a great search engine, but everything else it does is just ok - but if it hadnt put all that effort into the search engine, the rest of the stuff would never have happened!

Oh - and as a final piece of advice - don't ask for advice - just get on and do it the way you think it should be.  If it sux, people will tell you, but if you are trying to build it by committee you will never get anywhere!


Best of luck!

[AgeraS]

Oh - and as a final piece of advice - don't ask for advice - just get on and do it the way you think it should be.  If it sux, people will tell you, but if you are trying to build it by committee you will never get anywhere!
Best of luck!

Thanks for the good advice !

Does anyone have any input as to what to name my new exchange?

[mrvision]

The problem is that MtGox is a centralized schema... Check this:

https://bitcointalk.org/index.php?topic=167481.0

[AgeraS]

Hi there,

I don't want to crush your dreams or anything, however this project would take a HUGE contribution. I mean you would need to fund coding, hosting & security. Remember that this site is run by professionals which know a lot about networking & most likely have degrees in networking, if they haven't I would be surprised. The running cost would be huge, to have such a huge database the server you are going to be hosted on would have to be dedicated and I mean a large and powerful box. Starting up costs may be small, however it will mount up over the time the site is running.

Is it unrealistic to think that I could find a team of professionals that care about Bitcoins long term growth and safety?
While I am not a programmer I do care a lot about Bitcoins long term viability. That is why I am willing to fund an exchange that can compete with Gox's monopoly; that is what I have to offer to the Bitcoin community. Hopefully others that care will be willing to help me accomplish this goal. 

[AgeraS]

The problem is that MtGox is a centralized schema... Check this:

https://bitcointalk.org/index.php?topic=167481.0

If you're not convinced yet... read this article and you will realize that Mt.Gox needs to be killed by the market forces before we all have to regret.

Thanks, I read that article, It was really good! I also navigated a lot of the other links that were contained in that article, awesome reads, everyone should take a minute to read them. They give very good reasons why Mt.Gox is terrible and vulnerable to attacks, lag, etc.