Customer Owned Exchange

[Haunebu]

It would be a big advantage if there would be a customer-owned exchange but how are we going to assure the security of it if everyone would use it and no one would manage its safety? I would still go for a decentralized exchange because I find that idea too risky for traders.

What are you talking about? It is possible to build a secure exchange in this case through the proper protocols. You do realize that decentralized exchanges are not always secure, don't you?

The model which op suggested though is not feasible in the long run in my opinion.

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[Kiweikoo]

So in other words, a charity exchange platform wherein the operators wouldn't get anything in return and those who are pretty much using the platform since the beginning will have higher loyalty perks than those with traders who trade in with high volume but shorter time? I think the reward system would be chaotic, and the setup is pretty much like a cooperative platform wherein the community chimes in a percent of work done and receiving the dividends/profits after. It would be a nice system if it would be done for charity but for a business model? I don't think it will play out pretty well.

Hahahaha, this is the best reply I have read so far in this forum, I laughed so hard when I saw OP post because I know it would never be possible. This exchanges spend a lot of money running full node of almost all the crypto coin in the world, and you expect them to run a charity organization for you to benefit from, it doesn't even sound fair if you ask me, that should be only made possible in a decentralized exchange and not a centralized exchange.

[Artemis3]

i do not understand exactly what customer owned exchange is. but i dont like the idea that an exchange that i use is being owned by anybody. what about decentralized exchange platforms? arent they better?

All exchanges are own buy a certain person. Have done any research at all? I like the idea since I think that every shareholder holds a key so that the coins there won't just come to waste especially when an unexpected thing happen to the one holding the key just like what happen to the Canadian exchange which its owner dies.

What about Bisq? Isn't it technically owned by the people? I mean, anyone becomes part of it the moment you launch your client node, being p2p, decentralized and all...

Exchange, Decentralized.

Bisq is an open-source, peer-to-peer application that allows you to buy and sell cryptocurrencies in exchange for national currencies. No registration required.

[serjent05]

The model which op suggested though is not feasible in the long run in my opinion.

I think it is feasible since the reward given to the "co owners" are the percentage of what they have shared to the exchange.  Any business model will never give 100% of your contribution, owner will always have the greater portion of the pie because of the maintenance and other expenses.

OP's idea is kinda clever in a marketing sense, since people always wanted to be a part of the so called "co-owner" idea.  I believe if this thing is realized, and done right, this will be one of the successful exchange that will operate in the market.

[jjjfff]

i do not understand exactly what customer owned exchange is. but i dont like the idea that an exchange that i use is being owned by anybody. what about decentralized exchange platforms? arent they better?

All exchanges are own buy a certain person. Have done any research at all? I like the idea since I think that every shareholder holds a key so that the coins there won't just come to waste especially when an unexpected thing happen to the one holding the key just like what happen to the Canadian exchange which its owner dies.

Not necessarily. An exchange could be owned by no one if it were fully decentralized. A community could work on a smart contract, for example, publish it and the contract goes on forever without an owner.

In fact IIRC there was an attempt at a fully automated DEX with no owner under Ethereum but I think it was too slow and couldn't be used for real trading.

[danherbias07]

It is good that someone is thinking for something new. But there will be downsides here.

You will also need profits if you are the company who will run it.
Payment to employees and other stuffs to be paid.

You need to think wisely here although there is that "want" for a change. It could be in chaos if not managed in the right direction. It might fall easily.

Maybe a beta test should be created first befoee jumping in the higher kind of business.