[ANN] peatio.com the world's first 100 percent public owned bitcoin exchange

[SGExodus]

Just to pop in and say that I'm one of the investors here in the bitfund.pe fund, and have faith in lixiaolai.  
He's somewhat a bitcoin leader in China.

Thank you for support, John.

And criticisms from @davout is very interesting and helpful for me to rectify our business plan. I'm struggling to make it better. I sincerely invite davout contact me on gtalk: lixiaolai@gmail.com, I would be very grateful if davout offers more advices.

You're welcome.

And yes, Daveout is someone really experienced and almost unparalleled with creating exchanges. I'm sure his criticisms will advance the project a lot, and help iron out the kinks in the overall implementation.

Will Mr Li or John help to clarify the state of the fake fund raising incident - https://bitcointalk.org/index.php?topic=181336.0 before going on to raise more money from the public?

I don't think Mr Li is a trustworthy person and have the right credential to carry out any IPO.

[lixiaolai]

Will Mr Li or John help to clarify the state of the fake fund raising incident - https://bitcointalk.org/index.php?topic=181336.0 before going on to raise more money from the public?

I don't think Mr Li is a trustworthy person and have the right credential to carry out any IPO.

Before accusing me of "fake fund raising incident", you should check out links below, since you can read Chinese:

http://lixiaolai.com/first-public-charity-donation-in-china-for-lushan
http://lixiaolai.com/first-public-charity-donation-in-china-for-lushan-2nd-phase
http://lixiaolai.com/first-public-charity-donation-in-china-for-lushan-3rd-phase
http://lixiaolai.com/first-public-charity-donation-in-china-for-lushan-final

Here's a a brief explanation of the fund (I'll update a detailed explanation in the original post in English, within next week, when everything is settled.):

As of the fund raised (https://blockchain.info/address/15EhGBC8JBBVDKQ9yp1AqCb1xnzQLk6QHX, 32.54618228 BTC), as promised, I "exchanged" (that is, I used my own fiat money) the amount to RMB with the highest rate during the donation period, $169/BTC, equivalent to RMB 33,000. One of my friend later added RMB 20,000. The final amount of donation is equivalent to RMB 53,000. And as promised, I spent no money on traveling, hoteling, dining, etc. All the donation fund (53,000) will be sent to the students we'll support.

Now, RMB 15,000 was sent to 30 students from poor families in LuShan, as a student aid. Each of them only needs RMB 500 per year to pay for their tuitions. And we'll find more poor students to support next year, using the rest amount of RMB 38,000. (or perhaps we could find more students qualified in the near future, which needs volunteers work continuously.)

I'm building a website with one of my friend, named bitstudentaid.org (not launched yet, in development), planning raise more fund to support poor students in China in the future.

I hope I've given you a very clear explanation. However, I'll post a much more detailed update of the fund, and of the ongoing suite: bitstudentaid.org.

[hyh]

So, it's 100% publicly owned ?
Because the shareholder own it ?
So how is it any different than any other exchange owned by its shareholders ?

Totally agree.

if an exchange is 100 percent public owned, it's in essence another form of p2p.

Is AsicMiner a p2p mining team?
Is Google a p2p search engine?
Is BMW a p2p car company?

WTF.

[600watt]

sounds great! what´s the schedule ?

[realdos]

OP is a trust-worthy person in China. A lot of Chinese bitcoiners gained their first knowledge about bitcoin through OP's blog in 2011. For me I've read his blog and books since 2006 and I've gained many skills such as programming, critical thinking from his writings.

OP told us this project in a QQ online instant-chatting group and many ppl in the group are willing to become a shareholder, even before knowing the details of his project.

[bitcoin8888]

Mark

[vanbollu]

Mark

[hrunhan]

mark，，great becoming

[innovation]

If I have only 50 btc, Can I invest your project?
Thanks so  much!

[lixiaolai]

So, it's 100% publicly owned ?
Because the shareholder own it ?
So how is it any different than any other exchange owned by its shareholders ?

Totally agree.

if an exchange is 100 percent public owned, it's in essence another form of p2p.

Is AsicMiner a p2p mining team?
Is Google a p2p search engine?
Is BMW a p2p car company?

WTF.

you should think harder. And "WTF." is a nice indicator.

AsicMiner and Google has a distinction, and peatio.com will be pretty different from both of them.

[BTCLuke]

AsicMiner and Google has a distinction, and peatio.com will be pretty different from both of them.

Mr. Li, we owe you a lot of thanks for your many efforts in China, so I hope you understand that I am not attacking your business when I say the following...

But no one wants another Exchange! We've got too many exchanges right now, and the problem with every last one of them is that if a government wanted to, it can land helicopters nearby and shut it down. Washington, Beijing, it really doesn't matter which... Some state will eventually be made by the banking cartel to do so.

So I don't see any point in "public ownership" and especially no point in an exchange being hosted on a website.

To make an exchange that cannot be shut down, you simply must follow BitTorrent's design of a SOFTWARE APP to host the exchange within.

Otherwise, what's the point?

[SGExodus]

Before accusing me of "fake fund raising incident", you should check out links below, since you can read Chinese:

http://lixiaolai.com/first-public-charity-donation-in-china-for-lushan
http://lixiaolai.com/first-public-charity-donation-in-china-for-lushan-2nd-phase
http://lixiaolai.com/first-public-charity-donation-in-china-for-lushan-3rd-phase
http://lixiaolai.com/first-public-charity-donation-in-china-for-lushan-final

Here's a a brief explanation of the fund (I'll update a detailed explanation in the original post in English, within next week, when everything is settled.):

As of the fund raised (https://blockchain.info/address/15EhGBC8JBBVDKQ9yp1AqCb1xnzQLk6QHX, 32.54618228 BTC), as promised, I "exchanged" (that is, I used my own fiat money) the amount to RMB with the highest rate during the donation period, $169/BTC, equivalent to RMB 33,000. One of my friend later added RMB 20,000. The final amount of donation is equivalent to RMB 53,000. And as promised, I spent no money on traveling, hoteling, dining, etc. All the donation fund (53,000) will be sent to the students we'll support.

Now, RMB 15,000 was sent to 30 students from poor families in LuShan, as a student aid. Each of them only needs RMB 500 per year to pay for their tuitions. And we'll find more poor students to support next year, using the rest amount of RMB 38,000. (or perhaps we could find more students qualified in the near future, which needs volunteers work continuously.)

I'm building a website with one of my friend, named bitstudentaid.org (not launched yet, in development), planning raise more fund to support poor students in China in the future.

I hope I've given you a very clear explanation. However, I'll post a much more detailed update of the fund, and of the ongoing suite: bitstudentaid.org.

The updates that you've linked does not mentioned anything about the student aid.   If wasn't for this post, will you even bother posting an update and the original fund raising post, nor update your blog.  How can you raise fund publicly and not provide an update on how you intend to use the fund?   

How were the 30 students selected to receive the student aid?   Have the 30 students already received the aid?  Would you provide any evidence for the action?

In your fund raising post, you have committed to "promise that all funds will be spent on rehabilitation of lushan."   Do you think student aid is an appropriate way to use this fund?

Anyway, it is getting off-topic.  Please post your updates (and evidence if any) in your original fund raising thread to close the loop.  I have done my whistle blowing, and will not post any more on this matter.

[lixiaolai]

AsicMiner and Google has a distinction, and peatio.com will be pretty different from both of them.

Mr. Li, we owe you a lot of thanks for your many efforts in China, so I hope you understand that I am not attacking your business when I say the following...

But no one wants another Exchange! We've got too many exchanges right now, and the problem with every last one of them is that if a government wanted to, it can land helicopters nearby and shut it down. Washington, Beijing, it really doesn't matter which... Some state will eventually be made by the banking cartel to do so.

So I don't see any point in "public ownership" and especially no point in an exchange being hosted on a website.

To make an exchange that cannot be shut down, you simply must follow BitTorrent's design of a SOFTWARE APP to host the exchange within.

Otherwise, what's the point?

The problem here is that even a sound p2p solution emerges, it will still have to depend on some sort of "gateway" (a term used by ripple).

[BTCLuke]

The problem here is that even a sound p2p solution emerges, it will still have to depend on some sort of "gateway" (a term used by ripple).

Yes, gateways do become the next CPoF (Central Point of Failure) if you move your exchange to software, I understand.

The challenge then would be to find a way to create gateways that simply cannot be shut down, such as being too numerous or completely anonymous.

[lixiaolai]

The updates that you've linked does not mentioned anything about the student aid.   If wasn't for this post, will you even bother posting an update and the original fund raising post, nor update your blog.  How can you raise fund publicly and not provide an update on how you intend to use the fund?   

I've said enough on the original post on how do I intend to use the fund. I don't quite understand your point that my blog is not "publicly" seen?
You can read Chinese, and you've read all the post, how could you conclude "The updates that you've linked does not mentioned anything about the student aid." -- please read again: http://lixiaolai.com/first-public-charity-donation-in-china-for-lushan-final

How were the 30 students selected to receive the student aid?   Have the 30 students already received the aid?  Would you provide any evidence for the action?

They've already received. YES, I'll provide adequate evidences.

In your fund raising post, you have committed to "promise that all funds will be spent on rehabilitation of lushan."   Do you think student aid is an appropriate way to use this fund?

YES, I think it's appropriate. I'll elaborate in the final update in the original donation post.

Anyway, it is getting off-topic.  Please post your updates (and evidence if any) in your original fund raising thread to close the loop.  I have done my whistle blowing, and will not post any more on this matter.

Please keep watching the original donation post.

[lixiaolai]

The problem here is that even a sound p2p solution emerges, it will still have to depend on some sort of "gateway" (a term used by ripple).

Yes, gateways do become the next CPoF (Central Point of Failure) if you move your exchange to software, I understand.

The challenge then would be to find a way to create gateways that simply cannot be shut down, such as being too numerous or completely anonymous.

I think we're moving along to that direction.

[BTCLuke]

I think we're moving along to that direction.

Awesome! I look forward to news then.

[shareoops]

Expecting 

As bitcoiners are calling for a true p2p exchange, I figure out another direction: if an exchange is 100 percent public owned, it's in essence another form of p2p.

http://peatio.com

• The team was assembled, and are now working.
• The project is funded and supported by https://bitfund.pe. (..., which is the 11th project in the portfolio of https://bitfund.pe)
• The first market will be China, one of the biggest markets in the world. (The next market will be nominated by share holders.)
• The exchange will have a client, with desktop and mobile edition. (more details will be updated)
• The exchange will sell all of its shares to the public.
• Every country or area will have it's own subdomain, cn.peatio.com, kr.peatio.com, jp.peatio.com, us.peatio.com, etc. and should have its own 100% IPO, since local traders should own local exchange.
• Once launched, the exchange will pay out dividend on a daily base.
• The shares will also be exchanged on its own site.
• The funding process will be open within two weeks, which will be parallel to the development. And the shares selling will be escrowed by John. K, or using
• a mechanism of the distributed contract ( https://en.bitcoin.it/wiki/Contracts )

@GGGGG is responsible to give more on announcements of peatio.com and https://bitfund.pe

[charleshoskinson]

Will Mr Li or John help to clarify the state of the fake fund raising incident - https://bitcointalk.org/index.php?topic=181336.0 before going on to raise more money from the public?

I don't think Mr Li is a trustworthy person and have the right credential to carry out any IPO.

In my time knowing Mr. Li, I have found him to be one of the most trustworthy and passionate individuals I have ever met. His commitment to the Bitcoin community seems endless and he supports many small projects.  We are very lucky to have him here.

As for your assertion that he somehow lacks the skills to carry out an IPO, it is baseless and offensive. China isn't the most Bitcoin friendly environment, yet he publicly embraces it regardless of the personal risks. He has decades of business experience and a very committed network of associates to carry out a wide range of operations throughout all of China. Li is also my friend and I'll always support his efforts to bring Bitcoin to a society in desperate need of the economic freedom we take for granted.

[hlhott]

Will Mr Li or John help to clarify the state of the fake fund raising incident - https://bitcointalk.org/index.php?topic=181336.0 before going on to raise more money from the public?

I don't think Mr Li is a trustworthy person and have the right credential to carry out any IPO.

In my time knowing Mr. Li, I have found him to be one of the most trustworthy and passionate individuals I have ever met. His commitment to the Bitcoin community seems endless and he supports many small projects.  We are very lucky to have him here.

As for your assertion that he somehow lacks the skills to carry out an IPO, it is baseless and offensive. China isn't the most Bitcoin friendly environment, yet he publicly embraces it regardless of the personal risks. He has decades of business experience and a very committed network of associates to carry out a wide range of operations throughout all of China. Li is also my friend and I'll always support his efforts to bring Bitcoin to a society in desperate need of the economic freedom we take for granted.

ok