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Author Topic: Why not get rid of online exchanges? Seems like it is time for a game changer!  (Read 1000 times)
coinits
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March 02, 2014, 07:07:02 PM
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After the Mt Gox theft, Instawallet theft, and other BTC thefts, why doesn't the braintrust on here develop a new client for doing peer-to-peer exchanges? The client could have the ability to handle multiple cyrptos and people could do trades without using a third party service that can jack their coins.

The devs could get a fee from coin developers to list their coin and buyers and sellers could each pay a small fee to maintain the network and put a few coins in the devs pockets. There could be a built in escrow feature, optional insurance, rating system based on successful trades, as confirmed by the blockchain.

Talk about a revolution. If I had the skills, I would do it, but alas I do not.

I do know that there are enough gurus on here to make it happen.

So what do you think?

Mt Gox set btc back, the next big theft will do the same.

Get er done!

Jump you fuckers! | The thing about smart motherfuckers is they sound like crazy motherfuckers to dumb motherfuckers. | My sig space for rent for 25 btc per week.
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March 02, 2014, 07:49:03 PM
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Probably the most discussed (serious) topic on here.

Notice how you are fudging the issue (as almost everyone seems to): peer to peer exchange of crypto/crypto vs peer to peer exchange of crypto/fiat.

The latter is the real problem (although I'm not saying the first one is particularly easy).

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March 02, 2014, 07:53:39 PM
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Probably the most discussed (serious) topic on here.

Notice how you are fudging the issue (as almost everyone seems to): peer to peer exchange of crypto/crypto vs peer to peer exchange of crypto/fiat.

The latter is the real problem (although I'm not saying the first one is particularly easy).

Why bother with fiat? It is a doomed experiment. The banksters had their day now it is time for them and their puppet politicians to get out of the way because of a new revolution.

People who keep comparing crypto to fiat in terms of worth just don't get it.


Jump you fuckers! | The thing about smart motherfuckers is they sound like crazy motherfuckers to dumb motherfuckers. | My sig space for rent for 25 btc per week.
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March 02, 2014, 07:55:06 PM
 #4

Probably the most discussed (serious) topic on here.

Notice how you are fudging the issue (as almost everyone seems to): peer to peer exchange of crypto/crypto vs peer to peer exchange of crypto/fiat.

The latter is the real problem (although I'm not saying the first one is particularly easy).

Why bother with fiat? It is a doomed experiment. The banksters had their day now it is time for them and their puppet politicians to get out of the way because of a new revolution.

People who keep comparing crypto to fiat in terms of worth just don't get it.



If you don't use fiat, what are you exchanging?  Bitcoins for...? 

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March 02, 2014, 08:05:01 PM
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And I am not fudging anything. And yes it is easy to do. How do I know? A lot of websites are already doing it. Creating wallet addresses for each crypto to do a transaction. Your response is pretty damn lame and defeatist.

Jump you fuckers! | The thing about smart motherfuckers is they sound like crazy motherfuckers to dumb motherfuckers. | My sig space for rent for 25 btc per week.
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March 02, 2014, 08:17:41 PM
 #6

Probably the most discussed (serious) topic on here.

Notice how you are fudging the issue (as almost everyone seems to): peer to peer exchange of crypto/crypto vs peer to peer exchange of crypto/fiat.

The latter is the real problem (although I'm not saying the first one is particularly easy).

Why bother with fiat? It is a doomed experiment. The banksters had their day now it is time for them and their puppet politicians to get out of the way because of a new revolution.

People who keep comparing crypto to fiat in terms of worth just don't get it.



If you don't use fiat, what are you exchanging?  Bitcoins for...? 

What? Are you serious?

For goods and services, and if you must have a physical store of wealth gold and silver.

Fiat is nothing more than modern day slavery. It is time for it to go the way of the dinosaur. They print it out of thin air with no finite level. With every dollar created $1.05 is owed to the banksters, thus ensuring debt slavery.

http://www.youtube.com/watch?v=lu_VqX6J93k

Jump you fuckers! | The thing about smart motherfuckers is they sound like crazy motherfuckers to dumb motherfuckers. | My sig space for rent for 25 btc per week.
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March 03, 2014, 02:12:40 AM
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Ban banks ! doesnt work, damn  Grin
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March 03, 2014, 04:23:02 AM
 #8

....
People who keep comparing crypto to fiat in terms of worth just don't get it.


That's fine if you are selling webhosting, or anything else that has little real cost.
If you sell your car or house, then you need to know some idea what BTC is worth vs the $

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March 03, 2014, 05:02:51 PM
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If you don't use fiat, what are you exchanging?  Bitcoins for...? 

What? Are you serious?

For goods and services, and if you must have a physical store of wealth gold and silver.

Fiat is nothing more than modern day slavery. It is time for it to go the way of the dinosaur. They print it out of thin air with no finite level. With every dollar created $1.05 is owed to the banksters, thus ensuring debt slavery.

http://www.youtube.com/watch?v=lu_VqX6J93k

I think there's some confusion over "exchange" here. Generally when people say "exchange" in relation to Bitcoin (or other commodities/financial instruments/currencies etc) they mean a service that allows parties to trade - e.g. an FX exchange allows parties to trade, say, GBP for USD, a commodities exchange allows JPY for gold, USD for oil, etc. The exchange acts as an intermediary between the two parties. MtGox, btc-e and BitStamp are all exhanges, LocalBitcoins is an "over-the-counter" (OTC) platform (no exchange, one party deals directly with the other party, with LocalBitcoins providing little more than an advertising-and-escrow service). (I'm wildly generalising here, but you should get the idea).

@CurbsideProphet - the above notwithstanding, alt coins!

Random comment: I've *never* bought BTC on an exchange. I've traded on exchanges before (I was really bad at it, as I was when I tried FX trading before BTC trading) but actual purchases of BTC have all been OTC - either through bitcointalk or LocalBitcoins. I'm not sure I'd change this, particularly after watching MtGox slow demise.

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CurbsideProphet
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March 03, 2014, 06:19:51 PM
 #10

Probably the most discussed (serious) topic on here.

Notice how you are fudging the issue (as almost everyone seems to): peer to peer exchange of crypto/crypto vs peer to peer exchange of crypto/fiat.

The latter is the real problem (although I'm not saying the first one is particularly easy).

Why bother with fiat? It is a doomed experiment. The banksters had their day now it is time for them and their puppet politicians to get out of the way because of a new revolution.

People who keep comparing crypto to fiat in terms of worth just don't get it.



If you don't use fiat, what are you exchanging?  Bitcoins for...? 

What? Are you serious?

For goods and services, and if you must have a physical store of wealth gold and silver.

Fiat is nothing more than modern day slavery. It is time for it to go the way of the dinosaur. They print it out of thin air with no finite level. With every dollar created $1.05 is owed to the banksters, thus ensuring debt slavery.

http://www.youtube.com/watch?v=lu_VqX6J93k

Stop being obtuse, it's pretty obvious you still need fiat at this point in Bitcoin's life cycle.  Bitcoin is generated through the mining process, which also keeps the network integrity in tact, all of which costs electricity.  Last I checked, the major electric companies are not accepting Bitcoin as payment so you're still going to have to use fiat.  A pure goods/services to Bitcoin economy would be very small in scale.  Insignificant.

Same with gold, how are you going to get that gold?  Pan for it?  Mow someone's lawn for gold?  You can use Bitcoin as a MEDIUM OF EXCHANGE, but what does that have to do with eliminating the exchanges?  Nothing.

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