installing new server, stuff will be back shortly~
I have an idea for distributed p2p trading with mtgox as backend. This will require modifying bitcoind server and add extra traffic in our p2p network. I think this can work, please have a look:
- whenever you want to trade you fire up a bitcoind on your PC and connect to localhost,
- bitcoind in p2p traffic is exchanging information about asks/bids (alongside of the block information)
- this information is encrypted with a public mtgox key
- some random/unknown node (impossible to locate), with changing IP is a real mtgox node which has private mtgox key, this is the mtgox node which can perform the transaction and make them really happen
- whenever you place ask/bid it is propagated through the p2p network
- whenever a transaction is made, the mtgox node authorises it with its private key and propagates the transaction to p2p network
- whenever mtgox node gets ddosed it simply changes IP
- for example after starting bitcoind you will just connect to http://localhost:1234
and are presented with basic web interface for trading:
+ you can login with your mtgox credentials (which are beforehand distributed in whole p2p network in encrypted form, confirmed with mtgox private key),
+ you can create a new account on mtgox server and this request as soon as will reach mtgox node will be processed
+ and all other functionality of mtgox.
If done right, with public/private mtgox key pairs it should be impossible to break, and impossible to ddos.
In fact this interface can be used for ALL exchange sites, it's just each of them will be using a different private/public key pairs.
Trading will be as fast as it needs to distribute new transaction in whole p2p network.
how do you think?