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Author Topic: Exchange transparency, or is this going too far?  (Read 1149 times)
codro
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April 19, 2013, 08:13:34 PM
 #21

I would support this idea in concert with some sort of decentralized exchange.

MtGox can then issue MtGoxUSD colored coins, which get exchanged for BTC, and can be redeemed at MtGox later on by their new owner. MtGox would just be a broker, and so would the rest of the current exchanges. The decentralized exchange would handle the trade of colored coins for BTC, and work through some sort of publicly auditable blockchain.
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greBit
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April 20, 2013, 05:28:16 PM
 #22

I must be missing something. How are my transaction fees not helping support the infrastructure ... the more they earn the more hard disks they can install Smiley

Do the fees need to be increased?
Transaction fees only go to miners. Not only miners have to store the block chain.


How do the incentive structures scale when the whole world wants to get their transaction on the blockchain? Say in 10 years we need to perform 1 million transactions per day or something.

Will people still store all this for free?
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April 20, 2013, 06:01:11 PM
 #23

I would support this idea in concert with some sort of decentralized exchange.

MtGox can then issue MtGoxUSD colored coins, which get exchanged for BTC, and can be redeemed at MtGox later on by their new owner. MtGox would just be a broker, and so would the rest of the current exchanges. The decentralized exchange would handle the trade of colored coins for BTC, and work through some sort of publicly auditable blockchain.
Bitstamp already supports this, it is called ripple...

https://www.coinlend.org <-- automated lending at various exchanges. No fees(!).
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
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