williecity (OP)
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Activity: 103
Merit: 10
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February 26, 2014, 05:33:29 AM |
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Is it possible to create a decentralized way of buying and selling Bitcoins,
Like a program that can be installed on any computer and function like MtGox.
If this can be done, Bitcoin will be completely independent.
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hostmaster
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February 26, 2014, 05:34:10 AM |
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good idea but takes more than this the one who do it will bebest service to the world after Bitcoin...
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deliciousham
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Activity: 28
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February 26, 2014, 05:35:06 AM |
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I would like to see this happen as well
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johnyj
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Merit: 1012
Beyond Imagination
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March 02, 2014, 04:08:39 AM |
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It is called localbitcoins
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tokeweed
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Life, Love and Laughter...
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March 02, 2014, 04:22:10 AM |
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Is it possible to create a decentralized way of buying and selling Bitcoins,
Like a program that can be installed on any computer and function like MtGox.
If this can be done, Bitcoin will be completely independent.
i'm speculating, but this could be jed mccaleb's secret project: http://alphatesters.secretbitcoinproject.comas of now it is possible to trade btc in a decentralized way. it's called ripple: https://ripple.com/ripple_primer.pdfcheck it out. |
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bitvestor
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March 04, 2014, 05:27:55 PM |
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It is called localbitcoins
Very incorrect! I will love to see what the OP is talking about HAPPEN! |
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apsvinet
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March 04, 2014, 05:49:46 PM |
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It is called localbitcoins
Very incorrect! I will love to see what the OP is talking about HAPPEN! Yeah what are you talking about? That's nothing related to what OP is asking for. I'd love to see that happen too, it would remove the risks of getting goxxed again. |
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Meuh6879
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March 04, 2014, 09:12:25 PM |
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Is it possible to create a decentralized way of buying and selling Bitcoins,
Like a program that can be installed on any computer and function like MtGox.
No. Because ... FIAT money is a BANK system ! Mastercard/visa ... wire, SEPA, etcs ! |
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flatfly
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760930
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March 04, 2014, 09:19:08 PM |
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Is it possible to create a decentralized way of buying and selling Bitcoins,
Like a program that can be installed on any computer and function like MtGox.
If this can be done, Bitcoin will be completely independent.
AFAIK the only such system already up and running is Counterparty / XCP. Research it. Although still in early alpha and not ready for mainstream users, its potential really is exciting. |
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Singlebyte
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March 04, 2014, 09:29:53 PM
Last edit: March 04, 2014, 09:54:10 PM by Singlebyte |
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Is it possible to create a decentralized way of buying and selling Bitcoins,
Like a program that can be installed on any computer and function like MtGox.
No. Because ... FIAT money is a BANK system ! Mastercard/visa ... wire, SEPA, etcs ! Yes it is possible.... Several are being developed right now. They will use payment gateways to get fiat ( or any other asset) in and out of the system. Some of the projects that are working on it in one form or another are: Buttercoin (not sure if they are still working on decentralized) OpenTransactions Ripple Ethereum Invictus (bitshares) Counterparty I realize some on the list also will do other services, but they are all steps in the right direction. We are not too far away from seeing decentralized exchanges and other services. |
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keithers
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This is the land of wolves now & you're not a wolf
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March 04, 2014, 09:51:45 PM |
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There has been talk of this going on for a long time, but the one problem that can't be solved (so far at least), is that with a pure P2P exchange, there is nothing that forces the buyer or seller to commit to one particular price exchange rate. A person can say that they are going to fill a buy order at a specific price, but if that price changes, there is nothing to make that seller (or buyer), honor that price...
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Lauda
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March 04, 2014, 09:54:57 PM |
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You're a foolish person. @OP Yes, this is possible, but very hard to make. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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E.exchanger
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March 04, 2014, 09:56:15 PM |
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Well i will love to see that happen cuz after gox i don't trust any exchange anymore i know its unfair to say for the ones running legit but i guess its what most of us have in our mind !
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Lauda
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March 04, 2014, 09:57:41 PM |
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Well i will love to see that happen cuz after gox i don't trust any exchange anymore i know its unfair to say for the ones running legit but i guess its what most of us have in our mind !
Trust Bitstamp. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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Singlebyte
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March 04, 2014, 10:03:57 PM |
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Well i will love to see that happen cuz after gox i don't trust any exchange anymore i know its unfair to say for the ones running legit but i guess its what most of us have in our mind !
Trust Bitstamp. Don't "trust" any centralized service. They all have the potential to run away with your money or get hacked. And it is not Satoshi's vision.... Decentralized services/exchanges are coming. |
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Lauda
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Terminated.
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March 04, 2014, 10:09:25 PM |
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Don't "trust" any centralized service. They all have the potential to run away with your money or get hacked.
And it is not Satoshi's vision....
Decentralized services/exchanges are coming.
Okay then, trust me. I'm a bot made out of servers. Each operating with their own 'mind'. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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pening
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March 04, 2014, 10:16:58 PM |
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Whats wrong with a centralised exchange that offers only that functionality, without server side wallets to hold bitcoin? This would address the issue in hand.
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Singlebyte
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March 04, 2014, 10:18:56 PM |
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Don't "trust" any centralized service. They all have the potential to run away with your money or get hacked.
And it is not Satoshi's vision....
Decentralized services/exchanges are coming.
Okay then, trust me. I'm a bot made out of servers. Each operating with their own 'mind'. Then you are clueless. Bitcoins run on p2p servers and they run just fine...... Satoshi said to not trust third party players in a two party transaction. That's why bitcoin was developed. A centralized exchange brings back the "3rd untrusted" party back to the table. Once we see decentralized exchanges then the system will be back in check. |
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