Bitcoin Forum
October 04, 2024, 05:08:46 AM *
News: Latest Bitcoin Core release: 27.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: non-profit bitcoin exchange  (Read 1786 times)
lemonginger (OP)
Full Member
***
Offline Offline

Activity: 210
Merit: 100


firstbits: 121vnq


View Profile
June 19, 2011, 11:19:27 PM
 #1

-community funded
-open-source
-all profits get reinvested in both exchange and large bitcoin development efforts

--

could be a good way to bootstrap bitcoin development in terms of being able to offer bounties, pay coders, etc and also have an open-source exchange.
sirius
Bitcoiner
Sr. Member
****
Offline Offline

Activity: 429
Merit: 992



View Profile
June 19, 2011, 11:23:44 PM
 #2

Running an exchange takes more time than anybody can give out for free.

Intersango is the open source exchange platform developed and used by Britcoin.

Iris — for better social networks
I'm not a forum admin - please contact theymos instead.
lemonginger (OP)
Full Member
***
Offline Offline

Activity: 210
Merit: 100


firstbits: 121vnq


View Profile
June 20, 2011, 12:11:37 AM
 #3

I have a job at a non-profit.

I get paid.

phantomcircuit
Sr. Member
****
Offline Offline

Activity: 463
Merit: 252


View Profile
July 20, 2011, 01:14:50 AM
 #4

-community funded
-open-source
-all profits get reinvested in both exchange and large bitcoin development efforts

--

could be a good way to bootstrap bitcoin development in terms of being able to offer bounties, pay coders, etc and also have an open-source exchange.

Fyi you've basically just described the bitcoinconsultancy.com
lemonginger (OP)
Full Member
***
Offline Offline

Activity: 210
Merit: 100


firstbits: 121vnq


View Profile
July 20, 2011, 01:17:39 AM
 #5

cool thanks for heads-up!
nakowa
Member
**
Offline Offline

Activity: 83
Merit: 10


View Profile
July 20, 2011, 02:31:45 AM
 #6

Should not be against to profit.
terroh8er
Member
**
Offline Offline

Activity: 64
Merit: 10


View Profile
July 20, 2011, 06:04:22 AM
 #7

Should not be against to profit.


Supporting a non-profit isn't the same as being anti-profit. I think it would be a great opportunity to expand the community and would increase competition. Let's face it, MtGox could use some.
Bitcoin_Silver_Supply
Sr. Member
****
Offline Offline

Activity: 258
Merit: 250



View Profile
July 20, 2011, 06:07:36 AM
 #8

Non-profit does not equal "anti-profit." Without charities laissez-faire advocates would have no means of furthering their arguments.
repentance
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1000


View Profile
July 20, 2011, 07:16:50 AM
Last edit: July 20, 2011, 07:33:08 AM by repentance
 #9

Should not be against to profit.


Supporting a non-profit isn't the same as being anti-profit. I think it would be a great opportunity to expand the community and would increase competition. Let's face it, MtGox could use some.

Based on the volume over the last couple of days, TH is giving MtGox a serious run for their money now.

Non-profits typically need to be incorporated in some way and are subject to government scrutiny.  Someone needs to be responsible for all of the back-end stuff and that someone will have legal responsibilities.  We've seen what happens when an exchange gets significant volume and only has a couple of staff.  You'd need to employ paid staff as well as attract initial funding to get it up and running.  It's not a bad idea but it needs a significant lead time to be executed well and some serious upfront funding.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
wumpus
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1022

No Maps for These Territories


View Profile
July 20, 2011, 07:20:53 AM
 #10

Yeah; unless you find a way to make the exchange truly distributed, so that anyone can run a node and take part of the burden in bandwidth/responsibility, I don't think it is feasible to have an institution like this non-profit.

Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through FileBackup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
bracek
Hero Member
*****
Offline Offline

Activity: 530
Merit: 500


View Profile
July 20, 2011, 08:41:34 AM
 #11

would it be possible to make something (p2p application) that would be distributed on miners computers ?
they would host it , and through that network to run the exchange
davout
Legendary
*
Offline Offline

Activity: 1372
Merit: 1007


1davout


View Profile WWW
July 20, 2011, 08:46:32 AM
 #12

would it be possible to make something (p2p application) that would be distributed on miners computers ?
they would host it , and through that network to run the exchange
https://github.com/macourtney/Dark-Exchange

frozen
Full Member
***
Offline Offline

Activity: 196
Merit: 100



View Profile
July 20, 2011, 08:59:18 AM
Last edit: July 20, 2011, 09:46:00 AM by frozen
 #13

Without charities laissez-faire advocates would have no means of furthering their arguments.

False. The (theoretical) absence of charities would still fail to justify violence against peaceful individuals.

The only "laissez-faire advocates" that are unable to further their arguments in the absence of charities are those that haven't based their conclusions from first principles. When you work from first principles, the conclusions don't matter.

phantomcircuit
Sr. Member
****
Offline Offline

Activity: 463
Merit: 252


View Profile
July 20, 2011, 12:02:47 PM
 #14

would it be possible to make something (p2p application) that would be distributed on miners computers ?
they would host it , and through that network to run the exchange
https://github.com/macourtney/Dark-Exchange

Dark exchange is basically just a very complicated #bitcoin-otc
imperi
Full Member
***
Offline Offline

Activity: 196
Merit: 101


View Profile
July 20, 2011, 12:14:55 PM
 #15

would it be possible to make something (p2p application) that would be distributed on miners computers ?
they would host it , and through that network to run the exchange

How would you transfer the dollars?
lemonginger (OP)
Full Member
***
Offline Offline

Activity: 210
Merit: 100


firstbits: 121vnq


View Profile
July 20, 2011, 02:33:51 PM
 #16

it doesn't need to be technically incorporated as a non-profit. The essence of what I was proposing is that there is still a need for a well-run and transparent exchange and exchanges have the potential to make a lot of bank. An exchange that was run on a transparent open-source platform and essentially funneled its profits into the bitcoin community in terms of funding other projects would, I think, enjoy huge popularity among bitcoin users.

In any case, it appears bitcoin consultancy is pretty much using part of that model with Intersango.

A bitcoin credit union could essentially work the same way.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!