Name project: uMktTrader? uTrader? uMKT? Qt Altcoins Market Trader?
Warning My English is bad, sorry
What it is?
Is a market and a trader.
Is a tool to trade altcoins (bitcoin too) using the peer to peer technology, the tool is based on Satoshi opensource project.
And to try implement encrypted Vale/coupon/voucher Model based on Satoshi code to use like fiat money (the "real one").
Each fiat money have a type of the vale. Like BitUSDVale to dollars, BitEuroVale to Euros, BitRealVale to Brazilian Reals. And so on.
The market/trader
I'm proposing the idea only to be discussed and case reaches a verdict be developed in open source, we do. Is good to make it open, to
implement with the community new things e be acknowledged safer.
This solves what?
A barrier functioning of the whole idea of Satoshi. Freedom. The markets in the outside world, are propitious to be closed by governments.
With a system of exchanges made with the same technology used in Qt Bitcoin. Is it possible to derail that governments intervene in
the "bitcoins and altcoins" market. The only problem is that the system I propose is good for working with Altcoins only. Not with fiat money together.
I've been thinking of solutions for this, but it is impossible to something other than "printers" of coin validators.
About the coin validators/coupon/Vale/voucher? (I put several synonymous names because I don't know which one to use for this occasion)
Warning, this idea needs to be developed better.
This is the idea of creating a validator fiat currency. Where each exchange market, create your own validator. How will it be the
identical altcoins currencies, only with different name. He may enter into the exchange p2p system easily.
It will be like buying a paper worth a fiat currency. This facilitating trade within the p2p system. The market exchange creates
its own validator (read coupon) where only he can mine/miner/mined (or a group of markets) and he can only mine it when
someone inserts money in the markets. The exchangers can put fees on this. We have to think of a way that validator be trusted
and recognized, to avoid scam and inflation validators. But this is only one idea to be implemented, we can easily destroy it.
How It's works?
The client: The layout is the same of the Qt Bitcoin Trader, but will have more space in the layout to occupy with the cliente information,
charts and other functions. The cliente have a secret number with a password, that will be your login forever. The transactions are recorded at the
exchange blockchain p2p market. The exchange blockchain It has to be self-cleaning, to not get too big over time. For cleaning, the system should
have a second blockchain to record which blocks are to be erased. Each block of main blockchain should only be deleted as soon as there is confirmation
of sufficient network to authorize the destruction of suggested blocks. The amount peer network to be applied for authorization should be set for some
logic reason or democratically by developers.
The trading: To trade this tool will use Qt Bitcoin Trader based knowledge system to trade. Will have charts and something like API to free implementations.
The security: The system is based on Qt bitoin opensource Satoshi's project. It have to be safe, have to abuse of the encryption. If the cliente lose his login
He have to cry.
The reward system
As the network bitcoin miners have reward for it seems that this "system of trade" there is no way to implement this. A reward system could be
implemented by the system to bring more confidence, speed and so on. Would otherwise miners. Would be "insurers" of "trader p2p network". And
each customer pays a minimal fee, to be able to pay these insurers. (I do not know if that's the right word, insurers). Rates would be much lower
rates than charged in the exchange markets. Because it could be, past rates, as close to the "voucher" system charging a fee to generate a
"Certificate / Voucher".
To finalize
There are many challenges to create this system, only good and smart heads think better, better than my solutions. I believe that this idea is very good and
liberator / Freedom. One of the challenges is to think of the solution "speed" system response. I do not know if this can be a drag on the system. I believe
that when there are large volumes of transactions that would not be a problem. I think the speed of p2p, which is based on internet user, the ping and etc..
It would only be a problem when there were few transactions. Because there could be communication problems. I do not know if p2p generate much delay.
This has to be discussed.
So, discuss it.
Thank you for your time.
I have a design very much like this in pre-alpha at our labs. I encourage awareness of this post, and collaboration on ideas as well. I believe you are on the right track conceptually, and have touched on a couple of the major roadblocks (trade latency).
