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Author Topic: [ANN] BuyMyBitcoin.com - NEW auction site for buying and selling bitcoin-BOUNTY!  (Read 1938 times)
cypherdoc
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July 29, 2011, 01:48:40 AM
 #21



The advantage is that, while the reputation system is imperfect, it is one of the few ways of reducing risk and facilitating trade when dealing with digital cash. Escrows are imperfect too but if you combine the two you can achieve a great alternative to the traditional exchanges. It helps to decentralize the exchange process as well. If one or two big exchanges go down, the price discovery mechanism suffers - especially if there are no alternatives.

This also avoids the (possible) event where exchanges will be brought under the "know your customer" rules and you may have to provide identification documents and such. The auction format avoids the need to handle other people's money and this reduces the risks of future regulation.

this makes alot of sense.
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Trader Steve
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July 29, 2011, 03:26:44 AM
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Edits & Updates made to original post.
Mjbmonetarymetals
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July 31, 2011, 07:21:54 PM
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 Grin Grin just spotted the 2 ii's in bitcoin Grin Grin if it's the best design I'll eat my hat and remove the stray "i" Cheesy
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July 31, 2011, 08:51:54 PM
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Grin Grin just spotted the 2 ii's in bitcoin Grin Grin if it's the best design I'll eat my hat and remove the stray "i" Cheesy


Looking good but you have typo...  Smiley
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August 01, 2011, 12:42:37 AM
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Trader Steve
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August 01, 2011, 12:46:16 AM
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Nice designs!
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