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Author Topic: Is it possible to have a decentralized exchange with FINCEN in effect?  (Read 1033 times)
Stampbit
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June 01, 2013, 10:05:36 PM
 #1

With the issues that have arisen recently with the self imposed shutdown of many bitcoin exchangers in response to FINCEN regulations and the insanely high costs of adhering to state regulations, is the centralization of exchanges the only viable option?
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Stampbit
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June 07, 2013, 07:55:06 PM
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Ah i see i pointed out the glaring elephant in the room. So much for a decentralized currency.
sergio
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June 14, 2013, 01:19:56 AM
 #3

yes decentralized exchanges are a good option since it escapes from regulation, like torrents, tor, freenet, and bitcoins do.

If the could shutdown Bitcoins they would have done it already, the reason it survives it is because it is p2p, the same applies for torrents, freenet and tor.

A p2p exchange is probably something that has to be planed and designed very carefully like Bitcoin was, not an easy task but certainly doable.

The great advantage of a p2p exchange is that you take politics out of the equation, comments by other members of the forum comment that compliance costs in the other $250000 dollars, most of us do not have that type of cash therefore a p2p exchange is the way to go.

an easier option then implementing a p2p exchange, would be an anonymous exchange using tor using a tor friendly shopping cart, where people can join and share info on howto exchange and have a feedback system to prevent scammers, a that can verify the persons using gpg or pgp.

Does such software already exist in the open source, free world, that would work under tor ?



Stampbit
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June 14, 2013, 01:37:15 AM
 #4

At some point the exchange must interface with a bank and it is then that it will be regulated and shutdown.
prophetx
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June 17, 2013, 09:45:21 AM
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At some point the exchange must interface with a bank and it is then that it will be regulated and shutdown.

depends on which country the bank is in...
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June 17, 2013, 10:03:52 AM
 #6

Stampbit, the FINCEN thing you refer to is irrelevant and meaningless to most people in the world.

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