DDoS attacks again?

[wolverine.ks]

So it seems that DDoS' may be used to destabilize the market and reduce overall adoption, as well as cause panic sells in order to buy during a temporary low.
The establishment may fight to the bitter end, but is there any way to reduce the financial incentive so people stop doing this to make money?
More liquidity? More exchanges?

[1713545052]

1713545052

[1713545052]

1713545052

[1713545052]

1713545052

[1713545052]

1713545052

[Sage]

DECENTRALIZED EXCHANGE solves this problem!

We gotta make it happen.  Techies please, let start the discussion, and get something going.

Killings are being made by inducing panic selling with DDOS.  So long as they continue to work scaring people out of the market they will continue to be done.

[wolverine.ks]

a decentralized exchange, huh.......

what would that look like? would that be like another layer on top of btc? would that also need some sort of incentive to maintain?

[Sage]

DECENTRALIZED EXCHANGE solves this problem!

We gotta make it happen.  Techies please, let start the discussion, and get something going.

Killings are being made by inducing panic selling with DDOS.  So long as they continue to work scaring people out of the market they will continue to be done.

P2P exchanges are a model that will not work for a while. The exchange of dollars to Bitcoins will take so long with out a middle man so this is not going to happen for a while.

WRONG!  WRONG! WRONG!

How fast can you send money to a friend right now using current fiat infer-structure? Within seconds on some platforms.

A decentralized exchange would leverage all current financial platforms, and simply facilitate the connecting of buyers with sellers.  And facilitating the transaction with mulit-sig or some kind of escrow, and/or non-gamble feedback system.

It's critical this system gets in place before mass adoption.

[Sage]

Even ripple the closes with have to a P2P uses a middle man (gateway) to get the dollars to the exchange, it is just one those things that is going to take along time before we are able to do that.

Damn it!  Why does this short-sighted thinking frustrate me so much?

Get out of the centralized paradigm.  There is no $%#% need for a central gateway of any kind. 

Users simply pay each other however they want on whatever platform they want.  Doesn't matter how. Just so long as the fiat moves from one user to the other.  There's already plenty of options for that, and more are getting developed along the way.

This needs to be done.  No more short-sighted, limited thinking... it needs to be done.  It needs to be done now.

[Sage]

Then there will be fraud. Lets say I sweet talk a newbie into using paypal, I con them they send bitcoins I send the dollars. Then I issue a chargeback, BAM fraud and there is no jury to fix it. Or lets say I want to pay for some bitcoins but the other user wants to wait for the wire to clear before sending me bitcoins. Then during that time, bitcoins drop down to $90, I just missed a good buying point now I am mad.

There is just not an easy way, and gateways help with this so everyone has a fair chance.

There's always gonna be fraud.  And there's certainly solutions to prevent it..

- Multi-sig transactions
- Escrow services
- Reputation, web-of-trust systems.

EVERY #$%^ argument against a decentralized exchange I there is an answer for.  I challenge anyone here to give one that can't be solved.

Decentralized exchange would be superior to any exchange we have right now.  It's gotta be done if Bitcoin is going to scale.

[Sage]

Then there will be fraud. Lets say I sweet talk a newbie into using paypal, I con them they send bitcoins I send the dollars. Then I issue a chargeback, BAM fraud and there is no jury to fix it. Or lets say I want to pay for some bitcoins but the other user wants to wait for the wire to clear before sending me bitcoins. Then during that time, bitcoins drop down to $90, I just missed a good buying point now I am mad.

There is just not an easy way, and gateways help with this so everyone has a fair chance.

There's always gonna be fraud.  And there's certainly solutions to prevent it..

- Multi-sig transactions
- Escrow services
- Reputation, web-of-trust systems.

EVERY #$%^ argument against a decentralized exchange I there is an answer for.  I challenge anyone here to give one that can't be solved.

Decentralized exchange would be superior to any exchange we have right now.  It's gotta be done if Bitcoin is going to scale.

So I have to now get escrow services to buy coins and web of trust is really broke so that doesn't work, so now I could never bot trade.

Simply vet your sellers and buyers before hand.  Setup your bot to deal with vetted buyers/sellers.

And/or set bot to only deal with buyers/sellers according to pre-set parameters.

The vast set of buyers/sellers will also create far more arbitrage opportunities for a bot properly setup.

...Escrow transactions don't necessarily required a service, just multi-sig.... which will become ubiquitous soon enough.

C'mon, get a little creative.  There's no reason bot trading couldn't be done an a decentralized exchange.

[Sage]

Then there will be fraud. Lets say I sweet talk a newbie into using paypal, I con them they send bitcoins I send the dollars. Then I issue a chargeback, BAM fraud and there is no jury to fix it. Or lets say I want to pay for some bitcoins but the other user wants to wait for the wire to clear before sending me bitcoins. Then during that time, bitcoins drop down to $90, I just missed a good buying point now I am mad.

There is just not an easy way, and gateways help with this so everyone has a fair chance.

There's always gonna be fraud.  And there's certainly solutions to prevent it..

- Multi-sig transactions
- Escrow services
- Reputation, web-of-trust systems.

EVERY #$%^ argument against a decentralized exchange I there is an answer for.  I challenge anyone here to give one that can't be solved.

Decentralized exchange would be superior to any exchange we have right now.  It's gotta be done if Bitcoin is going to scale.

So I have to now get escrow services to buy coins and web of trust is really broke so that doesn't work, so now I could never bot trade.

Simply vet your sellers and buyers before hand.  Setup your bot to deal with vetted buyers/sellers.

And/or set bot to only deal with buyers/sellers according to pre-set parameters.

The vast set of buyers/sellers will also create far more arbitrage opportunities for a bot properly setup.

...Escrow transactions don't necessarily required a service, just multi-sig.... which will become ubiquitous soon enough.

C'mon, get a little creative.  There's no reason bot trading couldn't be done an a decentralized exchange.

You just described a centralized exchange, I should only setup with vetted buyers and sellers.

Ummm.... hello.... nothing centralized about that.  You have as many buyers and sellers to choose from as there are in the system.

Try again!

[Sage]

Then there will be fraud. Lets say I sweet talk a newbie into using paypal, I con them they send bitcoins I send the dollars. Then I issue a chargeback, BAM fraud and there is no jury to fix it. Or lets say I want to pay for some bitcoins but the other user wants to wait for the wire to clear before sending me bitcoins. Then during that time, bitcoins drop down to $90, I just missed a good buying point now I am mad.

There is just not an easy way, and gateways help with this so everyone has a fair chance.

There's always gonna be fraud.  And there's certainly solutions to prevent it..

- Multi-sig transactions
- Escrow services
- Reputation, web-of-trust systems.

EVERY #$%^ argument against a decentralized exchange I there is an answer for.  I challenge anyone here to give one that can't be solved.

Decentralized exchange would be superior to any exchange we have right now.  It's gotta be done if Bitcoin is going to scale.

So I have to now get escrow services to buy coins and web of trust is really broke so that doesn't work, so now I could never bot trade.

Simply vet your sellers and buyers before hand.  Setup your bot to deal with vetted buyers/sellers.

And/or set bot to only deal with buyers/sellers according to pre-set parameters.

The vast set of buyers/sellers will also create far more arbitrage opportunities for a bot properly setup.

...Escrow transactions don't necessarily required a service, just multi-sig.... which will become ubiquitous soon enough.

C'mon, get a little creative.  There's no reason bot trading couldn't be done an a decentralized exchange.

You just described a centralized exchange, I should only setup with vetted buyers and sellers.

Ummm.... hello.... nothing centralized about that.  You have as many buyers and sellers to choose from as there are in the system.

Try again!

You know just as well, that there will be a few people that get most of the business what makes that different from mt gox or bitstamp?

Just like there are power sellers on ebay that do most the business.    But power sellers come and power sellers go.  Yet ebay continues!

There my friend is your big difference. 

Let's get a decentralized exchange going now!

[MPOE-PR]

Related: Boys and girls, I got news : we're being probed.

[Sage]

Related: Boys and girls, I got news : we're being probed.

Agreed!  And rather then get caught flat-footed, let's create a solution now... A DECENTRALIZED EXCHANGE!!!!!