Investors Pump $600,000 into Swedish Bitcoin Exchange Safell

[wang_yan]

btcQuick got $500K from Panama fund, saw it on their about us page.

[hellscabane]

Each time a new exchange is mentioned, part of me wants to cringe, and another part of me wants to be excited. There have been so many debacles with exchanges.

Fortunately this time around, I'm cringing less and allaying my skepticism for actual excitement. From what I gather, this sounds pretty solid.

[Joohansson]

I was trying out safello yesterday and it was a bit buggy, but according to the support the press release was released by media too early. So with that info, don't be upset if the site is not working properly right now. Very interesting with new players on the market!

[JointDoctor]

Safello is shit.
Boys trying to play wall street.

What BTC needs is decentralized exchanges, not "solid" players.

[rmines]

Good news!
A new solid trustworthy exchange can only be seen as positive to the entire bitcoin community.

[Joohansson]

Safello is shit.
Boys trying to play wall street.

What BTC needs is decentralized exchanges, not "solid" players.

I think it's easier for "common" people to trust an exchange like Safello. Maybe Bitcoin needs both.

[hostmaster]

really good news

[Pentax]

Safello is shit.
Boys trying to play wall street.

What BTC needs is decentralized exchanges, not "solid" players.

Maybe they are.  At some point men will come along.  This may be them and it might not be.  Their performance will tell and the market will decide.

I'm fine with decentralized exchanges, as I think are most people here.  The problem is in the how.  We seem to be a long way off from those, both in terms of implementation and acceptance by the larger marketplace.

Until that time we need something better than what has been put forward in the past, which has not been up to the task.  Hopefully one of these other groups will get it right.

[lolipop]

No more MTGOX , which price to follow ?

[johnyj]

Localbitcoins is the way to go, if they can manage to make their system decentralized, it will be the best. If there are enough market makers on localbitcoins, then the spread and market depth will build up

[BitCoinsLOL]

yes, it is what bitcoin needs in terms of exchanges.  The exchanges need to be bullet-proof and liquid so their customer's trading risk does not include the risk that the exchange itself will shoot them in the ass.

 


Very similar to the way Pokerstars does business they kept players money in a separate account. Even when the DOJ shut down the major sites. PS was able to show all players monies in a separate account and every penny accounted for. Therefore the DOJ allowed stars to return all players $ while Full Tilt still hasn't paid their players.

[Pentax]

yes, it is what bitcoin needs in terms of exchanges.  The exchanges need to be bullet-proof and liquid so their customer's trading risk does not include the risk that the exchange itself will shoot them in the ass.

 


Very similar to the way Pokerstars does business they kept players money in a separate account. Even when the DOJ shut down the major sites. PS was able to show all players monies in a separate account and every penny accounted for. Therefore the DOJ allowed stars to return all players $ while Full Tilt still hasn't paid their players.

Good point.  Transparency and a clear policy should be stated by these guys as to how funds are stored, and how liquidity is maintained.  

Robbing peter to pay paul ends up in collapse eventually, so the exchanges need to be clearer on these things.

[sanjoea]

That's good for the investers, also good to retain the first position for bitcoin

[sraosha]

No.

What we need is a decentralized exchange.

That is the problem.

Not more "solid players".  I know you meant well by saying that.  But truly:  Bitcoin needs no central points of weakness.

This is the entire reason it was created.  And are we shocked that the failures have been in the centralized elements? 

They are *always* the weak links in a decentralized network.

I don't know if Mastercoin Foundation's decentralized network invention is what I am referring to, but the days of "companies" owning "exchanges" and creating a "trust" situation needs to end.

More companies is not the solution.

-B-

Decentralized exchange (systems) are not yet technically evolved enough. Though this might be the ultimate road to take, in the meantime it needs more and solid exchanges and clearing houses for BTC.

We need exchanges that are well funded and well managed, not like Gox, which essentially grew out of a gambling platform and is run by amateurs.

One step at the time. I would embrace a decentralized system but it needs to grow naturally. Also, localbitcoins already is some sort of decentralized exchange and available.

[halcyon]

seems like Roger Ver is investing in nearly every start-up which has remotely to do with bitcin 
smart guy imo!