yavorssj (OP)
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February 21, 2014, 05:17:15 AM
Last edit: February 21, 2014, 05:38:35 AM by yavorssj |
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First time poster here... I was just thinking about this whole MtGox thing... It seems that there is really bad price discovery between the crypto/fiat worlds. BitCoin came about as a decentralized way of doing business, trading ideas, and the like... Is there not a way we can have a decentralized way of doing price discovery and get away from the centralized exchanges? Maybe not a new coin, but rather a patch that can be added onto BitCoin? Maybe? If not, would a new coin be needed? It just seems that the idea of a centralized exchange defeats the whole point of the crypto currency concept. Now, I am not a coder, so I have no idea how to implement it... But if is not possible to patch Bitcoin, a new Crypto Currency is needed, and someone runs with my idea of a decentralized crypto exchange, please call the new trading unit a YAVORSK, instead of a Satoshi  This is my white paper  Steve edited for grammar... |
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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Indemnified
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February 21, 2014, 05:26:44 AM |
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There are several projects in development.
See bitshares, ethereum, ripple, mastercoin, and others.
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hostmaster
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February 21, 2014, 05:27:46 AM |
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First time poster here... I was just thinking about this whole MtGox thing... It seems that there is really bad price discovery between the crypto/fiat worlds. BitCoin came about as a decentralized way of doing business, trading ideas, and the like... Is there not a way we can have a decentralized way of doing price discovery and get away from the centralized exchanges? Maybe not a new coin, but rather a patch that can be added onto BitCoin? Maybe? If not, would a new coin be needed? It just seems that the whole centralized exchange idea defeats the whole point of the crypto currency concept. Now, I am not a coder, so I have no idea how to implement it... But if is not possible to patch Bitcoin, a new Crypto Currency is needed, and someone runs with my idea of a decentralized crypto exchange, please call the new trading unit a YAVORSK, instead of a Satoshi This is my white paper Steve You thinking wisely Steve. Agreed. decentralized crypto exchange what we need now!! |
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yavorssj (OP)
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February 21, 2014, 05:44:53 AM |
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There are several projects in development.
See bitshares, ethereum, ripple, mastercoin, and others.
I see where what you are saying... But do we want to go the alt-crypto route, or try to bootstrap BTC? BTW, I have no dog in this fight. I have over 300K Doge and about 0.01 BTC. I am new to the whole alt currency scene and just want to see it succeed. Smack-downs like are happening because MtGox did not see the obvious coming do no good... I am just brainstorming over a few Guiness here. |
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waxwing
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February 21, 2014, 05:49:36 AM |
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There are several projects in development.
See bitshares, ethereum, ripple, mastercoin, and others.
I see where what you are saying... But do we want to go the alt-crypto route, or try to bootstrap BTC? BTW, I have no dog in this fight. I have over 300K Doge and about 0.01 BTC. I am new to the whole alt currency scene and just want to see it succeed. Smack-downs like are happening because MtGox did not see the obvious coming do no good... I am just brainstorming over a few Guiness here. They are not all based on altcoins. If you a do a search for "P2P exchange" on this forum you will find days' worth of reading on people's ideas. |
PGP fingerprint 2B6FC204D9BF332D062B 461A141001A1AF77F20B (use email to contact)
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ShawnLeary
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February 21, 2014, 05:52:56 AM |
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First time poster here... I was just thinking about this whole MtGox thing... It seems that there is really bad price discovery between the crypto/fiat worlds. BitCoin came about as a decentralized way of doing business, trading ideas, and the like... Is there not a way we can have a decentralized way of doing price discovery and get away from the centralized exchanges? Maybe not a new coin, but rather a patch that can be added onto BitCoin? Maybe? If not, would a new coin be needed? It just seems that the idea of a centralized exchange defeats the whole point of the crypto currency concept. Now, I am not a coder, so I have no idea how to implement it... But if is not possible to patch Bitcoin, a new Crypto Currency is needed, and someone runs with my idea of a decentralized crypto exchange, please call the new trading unit a YAVORSK, instead of a Satoshi This is my white paper Steve edited for grammar...I believe NXT will be the first crypto to have a peer to peer exchange built into the client. edit- Offspring Client is preparing to add that feature. |
"We have the power to begin the world over again" - Thomas Paine
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waxwing
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February 21, 2014, 05:57:12 AM |
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I believe NXT will be the first crypto to have a peer to peer exchange built into the client.
edit- Offspring Client is preparing to add that feature.
P2P exchange for fiat is what actually matters if we want to avoid relying on exchanges like Mt Gox. I presume what you're describing does not include that? |
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yavorssj (OP)
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February 21, 2014, 05:57:41 AM |
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Well, it looks like I have some bedtime reading to catch up on... Whatever the solution, it has to be P2P. From 10,000 feet up, I do not see why a P2P exchange would have to be "attached" to BTC directly. I also think a totally alt-coin solution that puts BTC to bed would be a phyric victory in the end.
Regardless, I will dig in and see what I can see. Whatever I find, I will update here. Everyone else, feel free to post links here so the ideas flow for all...
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Holliday
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February 21, 2014, 05:57:51 AM |
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First time poster here... I was just thinking about this whole MtGox thing... It seems that there is really bad price discovery between the crypto/fiat worlds. BitCoin came about as a decentralized way of doing business, trading ideas, and the like... Is there not a way we can have a decentralized way of doing price discovery and get away from the centralized exchanges? Maybe not a new coin, but rather a patch that can be added onto BitCoin? Maybe? If not, would a new coin be needed? It just seems that the idea of a centralized exchange defeats the whole point of the crypto currency concept. Now, I am not a coder, so I have no idea how to implement it... But if is not possible to patch Bitcoin, a new Crypto Currency is needed, and someone runs with my idea of a decentralized crypto exchange, please call the new trading unit a YAVORSK, instead of a Satoshi This is my white paper Steve edited for grammar...Bitcoin isn't really what is holding back decentralized exchanges. Fiat is preventing them. How do you transfer fiat in a decentralized manner while verifying amounts and transactions and then put all of that information into a database where you can safely trade it for Bitcoins? Figure that out and let us know! |
If you aren't the sole controller of your private keys, you don't have any bitcoins.
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yavorssj (OP)
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February 21, 2014, 06:12:23 AM |
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Bitcoin isn't really what is holding back decentralized exchanges. Fiat is preventing them. How do you transfer fiat in a decentralized manner while verifying amounts and transactions and then put all of that information into a database where you can safely trade it for Bitcoins? Figure that out and let us know!
Find out a way to link your fiat bank account directly to your crypto wallet? Or even better, develop a wallet that can hold multiple currencies, crypto AND fiat... Now, getting that past the SEC, Treasury Department, or FED...  |
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waxwing
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February 21, 2014, 09:34:53 AM |
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Bitcoin isn't really what is holding back decentralized exchanges. Fiat is preventing them. How do you transfer fiat in a decentralized manner while verifying amounts and transactions...
Please take a look here: https://bitcointalk.org/index.php?topic=173220.msg3903951#msg3903951 |
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