Anonymous Decentralized Exchange

[KidMarx]

Building and developing an Anonymous Decentralized Bitcoin/Altcoin Exchange and we are looking for many people with experience in any of the following:
- Sidechain and Blockchain development
- Project Development Consultant
- Economic Projections
- Legal Assistance
- Investors

Interested in making some money and creating an anonymous exchange?
People should be able to exchange their coins without having to create an account. This allows for complete privacy to you and any transactions across all blockchains.

+KidMarx

[nemgun]

About legal assistance, you should know that if you plan to use fiats you won't be able to be anonymous, KYC is mandatory regarding the usage of FIATS and Bitcoin (only in some countries).
If you do it regardless of what i said you will never be legal, and you could even be prosecuted for money laundering or terrorism financing.

[johhnyUA]

Bad idea, and there some important reason:
1. What do you mean, then say "anonymous" ? Bitsquare already anonymous and deventralized.
But how many peolple using Bitsquare? Less then number of peoples which use Poloniex or Bitfinex.
You ask me: Why that? And i will answer you: because decentralized exhanger is worse then centralized (Poloniex as an example)
Commision bigger then at centralized, it's harder to trade and there more opportunites for thiefs to steal your money. Or your time, while you will be waiting till arbitrator'll solve your problem. Also, arbitrator can check your real personal information (like a video call or e-mail). At the centralized exhanger you can use fake document.

[Zeatorius]

By Anonymous are you hoping to hype off the group or do you mean you actually want to make an anonymous coin unknown to anyone?

[savioroshan]

By Anonymous are you hoping to hype off the group or do you mean you actually want to make an anonymous coin unknown to anyone?

I think by anonymous the op means he is planning to create a bitcoin exchange where you dont have to give your valuable informations such as email id etc. Now most of the exchanges require your full details for buying or selling the bitcoins for fiat currency. Bitcoins are anonymous but you have to provide the exchange your full details and you have to submit your ID for verificaion check. So the point of anonymous doesnt have any value here. The op is planning to build a exchange where it doesnt have any signups or verification checks to keep the buyer and seller of bitcoin anonymous. We need more exchanges like that.Its a good project and all the best for his new project.

[KidMarx]

About legal assistance, you should know that if you plan to use fiats you won't be able to be anonymous, KYC is mandatory regarding the usage of FIATS and Bitcoin (only in some countries).
If you do it regardless of what i said you will never be legal, and you could even be prosecuted for money laundering or terrorism financing.

How people use the technology isn't indicative of the technology itself.
But I suppose if we are to be prosecuted, it'll be for the justice system(s) to decide.

We are ready for any turbulence this may create in global economic structures.

By Anonymous are you hoping to hype off the group or do you mean you actually want to make an anonymous coin unknown to anyone?

I think by anonymous the op means he is planning to create a bitcoin exchange where you dont have to give your valuable informations such as email id etc. Now most of the exchanges require your full details for buying or selling the bitcoins for fiat currency. Bitcoins are anonymous but you have to provide the exchange your full details and you have to submit your ID for verificaion check. So the point of anonymous doesnt have any value here. The op is planning to build a exchange where it doesnt have any signups or verification checks to keep the buyer and seller of bitcoin anonymous. We need more exchanges like that.Its a good project and all the best for his new project.

This is exactly correctly.

Bitsquare isn't completely anonymous, as it does require people to provide personal information. Almost all exchanges do. We don't want that. We want you to be able to exchange as much as you want, without any knowledge of who you are. Because, it's your money and your business, not ours. Bitcoin is pseudo-anonymous. As time progresses, we are creating and building more blockchains that handle issues that weren't originally foresee-able. In some cases, they were foresee-able, but the original developers didn't know how much it'd scale. Whatever the reason,  the ability to utilize and seamlessly exchange any coin, any time, without a record becomes more and more valuable, as it will allow for the best parts of all coin attributes, so long as your funds exist in that/those coin(s).

There are many wallets/addresses that have funds in them that are monitored by chain analyses, people who's job are to de-anonymize wallet owners, etc. Bitcoin tumblers aren't trustless, and don't move your money off the public ledger. We are creating a trustless exchange, that allows for an exchange to other coins, say Monero, that are more private and allow for you to move your money back to whatever coin you want (be it Bitcoin or any Altcoin). Other ideas can include moving your coins to a more stable coin when other markets fluctuate, automatically buy/sell when conditions are met, no limit to amount of coins moved (some exchanges limit/cap how much a person can transfer). Transaction fee back to the exchange for their work. Growth in revenue isn't limited to the Market Caps of all coins, but the demand for people to apply the positive attributes of any coin they wish.

[GetClams.com]

Sounds like an awesome and ambitious project that I am sure the community would welcome. Will watch.

[Carmen_Sandiego]

Doing it in a decentralized way is a welcome idea, and it seems like a good time for that, as uncertainties have increased over exchanges after the recent events involving China, after governments have said they were possibly going to do inspections in the exchanges.
If this can increase anonymity, it might be even better, especially for users who think there is not enough privacy in most exchanges.

[johhnyUA]

Bitsquare isn't completely anonymous, as it does require people to provide personal information. Almost all exchanges do. We don't want that. We want you to be able to exchange as much as you want, without any knowledge of who you are. Because, it's your money and your business, not ours. Bitcoin is pseudo-anonymous. As time progresses, we are creating and building more blockchains that handle issues that weren't originally foresee-able. In some cases, they were foresee-able, but the original developers didn't know how much it'd scale. Whatever the reason,  the ability to utilize and seamlessly exchange any coin, any time, without a record becomes more and more valuable, as it will allow for the best parts of all coin attributes, so long as your funds exist in that/those coin(s).

Ok, and what about technical issues? How will you make anonymous system in your exchanger?
How will work arbitration system if someone will try to steal my money? Like an example, Bitsquare using multisig wallets for trading and arbitres for controversial situations.
I know Wawes making their own decentralized platform, but without anonimization. What do you think about their project?
More details please.

Transaction fee back to the exchange for their work.

This isn't seems like decentralized exchanger, lol. Sorry, maybe I haven't understood you, but what kind of fee you talking? to whom it will back?

[KidMarx]

Bitsquare isn't completely anonymous, as it does require people to provide personal information. Almost all exchanges do. We don't want that. We want you to be able to exchange as much as you want, without any knowledge of who you are. Because, it's your money and your business, not ours. Bitcoin is pseudo-anonymous. As time progresses, we are creating and building more blockchains that handle issues that weren't originally foresee-able. In some cases, they were foresee-able, but the original developers didn't know how much it'd scale. Whatever the reason,  the ability to utilize and seamlessly exchange any coin, any time, without a record becomes more and more valuable, as it will allow for the best parts of all coin attributes, so long as your funds exist in that/those coin(s).

Ok, and what about technical issues? How will you make anonymous system in your exchanger?
How will work arbitration system if someone will try to steal my money? Like an example, Bitsquare using multisig wallets for trading and arbitres for controversial situations.
I know Wawes making their own decentralized platform, but without anonimization. What do you think about their project?
More details please.

Transaction fee back to the exchange for their work.

This isn't seems like decentralized exchanger, lol. Sorry, maybe I haven't understood you, but what kind of fee you talking? to whom it will back?

To address the technical issues and without giving out too much details, the exchange wouldn't hold any of the money or funds itself. Rather, you as the client would give permission to move money to an already predetermined address which allows for multiple levels of permission. The exchange has the ability to notify you there is an exchange ready, request that the funds be moved, but you must confirm to move your money anywhere. Without you and your private key, your funds don't move (your key stays on client-side of course). We hold no money, only connect the people whom want to exchange.

The fee is to cover the network cost and pay the developers/investors. How and who (pseudo-ID) the fee gets distributed to is all public, but as to the identity for whom they are, that is not available. What's public is the % of the fee that pays each dev and potential investors. This can also be subject to change, and a dev or investor can give or sell their shares of the transaction fee if they so like. This would be projected and be public on the blockchain as well, to keep integrity in the service.

(I may have not explained this as well as I'd like to. Still working on my English.)

[johhnyUA]

To address the technical issues and without giving out too much details, the exchange wouldn't hold any of the money or funds itself. Rather, you as the client would give permission to move money to an already predetermined address which allows for multiple levels of permission. The exchange has the ability to notify you there is an exchange ready, request that the funds be moved, but you must confirm to move your money anywhere.

Like at the Bitsquare, lol.

Without you and your private key, your funds don't move (your key stays on client-side of course)
 

Lol. this scheme is being used in every centralized or decentralized exhanger.

We hold no money, only connect the people whom want to exchange.
 

lol, that's mean that your exanger is centralized. In decentralized exchanger this infirmation is kept on the client's computer (node). And this complicates such exchangers, bacause node becoming very "fat" (it's holding every information from the system, like Core client).

The fee is to cover the network cost and pay the developers/investors.
 

you mean that you have centralized exhanger. in decentralized exchanger there isn't any "network cost". Please, watch my statement above.

The fee is to cover the network cost and pay the developers/investors. How and who (pseudo-ID) the fee gets distributed to is all public, but as to the identity for whom they are, that is not available. What's public is the % of the fee that pays each dev and potential investors. This can also be subject to change, and a dev or investor can give or sell their shares of the transaction fee if they so like. This would be projected and be public on the blockchain as well, to keep integrity in the service.

Strange. Sorry, but today i don't have much time to explain your false. Maybe tomorrow i will try to do it.

[jacafbiz]

I know the space is ripe for a  robust DEX, but it seems they are not getting the right traction or let me say funding to develop the right one to compete successfully with the centralised exchanges, the two DEX I've tried I don't enjoy the experience at all. I wish you the best with your project

[BuySomeBitcoins]

is it similar to bitsquare.io ?

[cpfreeplz]

It sounds like a good idea but how would you get around KYC/AML laws in different countries? In Canada they're very strict so you wouldn't be able to not know who you were dealing with if you were a money exchanger.

[johhnyUA]

It sounds like a good idea but how would you get around KYC/AML laws in different countries? In Canada they're very strict so you wouldn't be able to not know who you were dealing with if you were a money exchanger.

Please, answer for one question: If you think that it's good idea, do you use bitsquare.io? How often do you trade on this exchanger? How do you estimate Bitsquare exchange by using 10-point scale?

[SparkedDev]

There is always a need for anonymous exchanges, it would be really welcome but you would have to make everything clear from the start.

How were you looking to do this?

[KidMarx]

It sounds like a good idea but how would you get around KYC/AML laws in different countries? In Canada they're very strict so you wouldn't be able to not know who you were dealing with if you were a money exchanger.

Great question!
To avoid KYC/AML laws, we won't be able to allow our users to purchase/sell with domestic fiats such as the Euro, Dollar, etc. It's only coin-to-coin.
We are considering having a feature that allows users to easily move their coins from blockchain to blockchain in a minimal amount of time, to make it difficult, if not nearly impossible for analyses to track. Increasing the entropy of the identity of users of this platform.

[KidMarx]

It sounds like a good idea but how would you get around KYC/AML laws in different countries? In Canada they're very strict so you wouldn't be able to not know who you were dealing with if you were a money exchanger.

Please, answer for one question: If you think that it's good idea, do you use bitsquare.io? How often do you trade on this exchanger? How do you estimate Bitsquare exchange by using 10-point scale?

You have a few good questions.
I have used Bitsquare for awhile, and I can say their UI/UX experience is phenomenal. They also handle the connection to Tor before you're able to trade, another superb feature. But I did find some areas I wasn't personally happy about.

1. Limitation on exchange.
There is a cap on how much one can trade, and this present a problem for audiences who want to move around their assets. Max trade duration: 1 day / Max trade limit 3.00 BTC (only $2730 currently)

2. Centralized blockchain explorers
Though Tor connection is required, users aren't able to select their own source as to where they are gathering Bitcoin's Blockchain data. Same for other blockchains

There is always a need for anonymous exchanges, it would be really welcome but you would have to make everything clear from the start.

How were you looking to do this?

Transparency is critical when starting a new business, and this is more true for an exchange. We will be providing all our code as open source, which will allow for anyone to verify that it's not even possible for anyone involved in this exchange to know who you are, or how you spend your money. I hope this sheds some light on your question. If it hasn't, please provide more details so we may explain more clearly.

+KidMarx

[SparkedDev]

It sounds like a good idea but how would you get around KYC/AML laws in different countries? In Canada they're very strict so you wouldn't be able to not know who you were dealing with if you were a money exchanger.

Please, answer for one question: If you think that it's good idea, do you use bitsquare.io? How often do you trade on this exchanger? How do you estimate Bitsquare exchange by using 10-point scale?

You have a few good questions.
I have used Bitsquare for awhile, and I can say their UI/UX experience is phenomenal. They also handle the connection to Tor before you're able to trade, another superb feature. But I did find some areas I wasn't personally happy about.

1. Limitation on exchange.
There is a cap on how much one can trade, and this present a problem for audiences who want to move around their assets. Max trade duration: 1 day / Max trade limit 3.00 BTC (only $2730 currently)

2. Centralized blockchain explorers
Though Tor connection is required, users aren't able to select their own source as to where they are gathering Bitcoin's Blockchain data. Same for other blockchains

There is always a need for anonymous exchanges, it would be really welcome but you would have to make everything clear from the start.

How were you looking to do this?

Transparency is critical when starting a new business, and this is more true for an exchange. We will be providing all our code as open source, which will allow for anyone to verify that it's not even possible for anyone involved in this exchange to know who you are, or how you spend your money. I hope this sheds some light on your question. If it hasn't, please provide more details so we may explain more clearly.

+KidMarx

I meant more of how do you plan to build out what tech's are you going to utilize to do this.
Well this be a client, or will this be a site that's hosted on bullet proof servers.

Things like that.

[Oilacris]

About legal assistance, you should know that if you plan to use fiats you won't be able to be anonymous, KYC is mandatory regarding the usage of FIATS and Bitcoin (only in some countries).
If you do it regardless of what i said you will never be legal, and you could even be prosecuted for money laundering or terrorism financing.

This would really be the case if theres an anonymous decentralized exchanges since we are still in involving on fiat when we are building an exchange site so this means we should follow the rules regarding on fiat terms which you will really need it because you cant execute normally if funds/fiat are lacking. You will be facing such problems if you tend to build one.