Topic: A new way to trade bitcoins in a new way (Read 207 times)
I guess it's not a good idea to use bitcoin in a form of payment but it will also depend on the establishment if they actually accept the BTC. It is the world's largest currency so I feel that people should be part of this coding world.
Hi,
So there are those companies that do data mining, for other companies (for example loan companies) extracting data from bank accounts (for example accounts of prospective loaners, who gave login credentials to their accounts) to give info to their clients (loan companies), who need it (for example to determine if a given person is credit-worthy, after checking his account history).
Why there are no companies like this, that would allow almost-trustless crypto-to-fiat exchanges directly between individuals? I mean, if you want to buy 1 BTC for 10kUSD and I want to sell 1 BTC for 10kUSD, then I make a transaction to you with:
a) nLockTime
b) requirement of a asymmetrical signature from company which professionally checks bank accounts to confirm transaction (let's call it BitConfirm from now on) - so it is multsig transaction
c) BitConfirm's policy needs crypto-signed confirmation from seller and buyer of Bitcoin that they will sell and buy under the condition of such and such payment on such and such bank account in such and such time etc.
Now, we agreed that BitConfirm will do the verification and we both signed by keys that will be used to send and receive this 1 BTC, then one of us or both sent this crypto-agreement to BitConfirm and BitConfirm needs to sign this message to, before anyone will send any money. You send BitConfirm your login credentials. It works exactly like those companies I mentioned above, there are companies like that working and legal all around the world. BitConfirm checks and either confirms or not this transaction.
Of course there are other ways of formulating transaction, there are problems to be solved (deposits for transaction-spam preventions and BitConfirm's fees etc.), but basically if we trust BitConfirm (trust is their business), then we have following advantages:
-we can make transaction between ourselves, without needing any exchanged crippled by hyper-regulation and else
-we don't have to trust each other, as we trust BitConfirm
-we can prove BitConfirm's maliciousness - because BitConfirm had signed the message (check c above)) before anyone concluded bank transfer. So, we could present this signed agreement and, for example, our bank statement with digital signature from bank's side, and that would prove BitConfirm's maliciousness and put it out of business.
So, what are your thoughts?
There are many ways by which you can be the part of crypto like trading, investing or moreover by writing posts in account. As we all know that all the crypto currencies and specifically the bitcoin are in very much controversy because every country wants to know is it benefial to legalise bitcoin in their nation or not but what I feel is that in future in coming decades bitcoin will going to be the world largest currency so I feel that every one should be the part of this crypto world. So there are those companies that do data mining, for other companies (for example loan companies) extracting data from bank accounts (for example accounts of prospective loaners, who gave login credentials to their accounts) to give info to their clients (loan companies), who need it (for example to determine if a given person is credit-worthy, after checking his account history).
Why there are no companies like this, that would allow almost-trustless crypto-to-fiat exchanges directly between individuals? I mean, if you want to buy 1 BTC for 10kUSD and I want to sell 1 BTC for 10kUSD, then I make a transaction to you with:
a) nLockTime
b) requirement of a asymmetrical signature from company which professionally checks bank accounts to confirm transaction (let's call it BitConfirm from now on) - so it is multsig transaction
c) BitConfirm's policy needs crypto-signed confirmation from seller and buyer of Bitcoin that they will sell and buy under the condition of such and such payment on such and such bank account in such and such time etc.
Now, we agreed that BitConfirm will do the verification and we both signed by keys that will be used to send and receive this 1 BTC, then one of us or both sent this crypto-agreement to BitConfirm and BitConfirm needs to sign this message to, before anyone will send any money. You send BitConfirm your login credentials. It works exactly like those companies I mentioned above, there are companies like that working and legal all around the world. BitConfirm checks and either confirms or not this transaction.
Of course there are other ways of formulating transaction, there are problems to be solved (deposits for transaction-spam preventions and BitConfirm's fees etc.), but basically if we trust BitConfirm (trust is their business), then we have following advantages:
-we can make transaction between ourselves, without needing any exchanged crippled by hyper-regulation and else
-we don't have to trust each other, as we trust BitConfirm
-we can prove BitConfirm's maliciousness - because BitConfirm had signed the message (check c above)) before anyone concluded bank transfer. So, we could present this signed agreement and, for example, our bank statement with digital signature from bank's side, and that would prove BitConfirm's maliciousness and put it out of business.
So, what are your thoughts?
Never keep yourself in a project. Bitcoin has no competitors now but does not mean that in the future too
Bitcoin always taking initiative for their customer satisfaction. It is a great thinking for them. I think in near future bitcoin will update their transaction system.
Going with BitConfirm has some advantages to the users if they start to use it as a new way to use bitcoins. There will be hassle free transactions between the mediums of exchange. We can simply rely on BitConfirm for all the oerations that will take place instead of relying on one another.
SO i guess it is not a good idea to use bitcoin in a form of payment but it will also depend on establishment if they really accept BTC.
It is certain that bitcoin is already a form of payment and I think is not debatable but the issue is acceptance by the generality of the people both the governments. Never mind the current drop but holding will be better in the future.
It is very confusing really if you will integrate bitcoin as a form of payment unless both parties will agree that bitcoin should be exchange first to fiat money before hand it over to the seller. And it will just making expensive payment since there is a transaction fee from converting bitcoins to fiat money. SO i guess it is not a good idea to use bitcoin in a form of payment but it will also depend on establishment if they really accept BTC.
Mainly btc is giving many benefits to their customers also there are many new way to trade with btc also this coin have good future value and good market value also with this we can buy many things also with this coin we can hold coin and we can invest in good projects for profit.
Yes, it's time to propose bitcoins and invest them in other crypto projects as I did. I put 4 bitcoins into Socratus
The way would be preferable but before investing I suggest to check its authenticity. There are so many scams are roaming beside us.
Yes there are a lot of amazing new projects producing continuously but there is no competitor to bitcoin. All you can do is hold bitcoin and invest on those new projects.
Cryptocurrency gave a big impact to many crytpo enthusiast especially those who have gained a lot from bitcoin. I have invseted on LEDU COIN which I believe will give us different aspect of gaining through expert content creators and professionals. Whats your idea about this?
Could you please give your thoughts on LEDU Token. I just heard that they have burning of tokens in July.Is this the right time to buy?
The best way is holding BTC and trying to invest in some of these new projects. It is better than hope you win in a lotto.
Have you heard about LEDU COIN? I heard in their telegram groupchat that they will have burning of tokens this July..Will I buy?
Don't keep yourself limited in one project. No doubt Bitcoin is a great coin and there is no competitor. But as far as I know, every day launch new projects. So the projects are really good and have great chances to get some good cash. What's your thought about SciDex?
Hi,
So there are those companies that do data mining, for other companies (for example loan companies) extracting data from bank accounts (for example accounts of prospective loaners, who gave login credentials to their accounts) to give info to their clients (loan companies), who need it (for example to determine if a given person is credit-worthy, after checking his account history).
Why there are no companies like this, that would allow almost-trustless crypto-to-fiat exchanges directly between individuals? I mean, if you want to buy 1 BTC for 10kUSD and I want to sell 1 BTC for 10kUSD, then I make a transaction to you with:
a) nLockTime
b) requirement of a asymmetrical signature from company which professionally checks bank accounts to confirm transaction (let's call it BitConfirm from now on) - so it is multsig transaction
c) BitConfirm's policy needs crypto-signed confirmation from seller and buyer of Bitcoin that they will sell and buy under the condition of such and such payment on such and such bank account in such and such time etc.
Now, we agreed that BitConfirm will do the verification and we both signed by keys that will be used to send and receive this 1 BTC, then one of us or both sent this crypto-agreement to BitConfirm and BitConfirm needs to sign this message to, before anyone will send any money. You send BitConfirm your login credentials. It works exactly like those companies I mentioned above, there are companies like that working and legal all around the world. BitConfirm checks and either confirms or not this transaction.
Of course there are other ways of formulating transaction, there are problems to be solved (deposits for transaction-spam preventions and BitConfirm's fees etc.), but basically if we trust BitConfirm (trust is their business), then we have following advantages:
-we can make transaction between ourselves, without needing any exchanged crippled by hyper-regulation and else
-we don't have to trust each other, as we trust BitConfirm
-we can prove BitConfirm's maliciousness - because BitConfirm had signed the message (check c above)) before anyone concluded bank transfer. So, we could present this signed agreement and, for example, our bank statement with digital signature from bank's side, and that would prove BitConfirm's maliciousness and put it out of business.
So, what are your thoughts?
So there are those companies that do data mining, for other companies (for example loan companies) extracting data from bank accounts (for example accounts of prospective loaners, who gave login credentials to their accounts) to give info to their clients (loan companies), who need it (for example to determine if a given person is credit-worthy, after checking his account history).
Why there are no companies like this, that would allow almost-trustless crypto-to-fiat exchanges directly between individuals? I mean, if you want to buy 1 BTC for 10kUSD and I want to sell 1 BTC for 10kUSD, then I make a transaction to you with:
a) nLockTime
b) requirement of a asymmetrical signature from company which professionally checks bank accounts to confirm transaction (let's call it BitConfirm from now on) - so it is multsig transaction
c) BitConfirm's policy needs crypto-signed confirmation from seller and buyer of Bitcoin that they will sell and buy under the condition of such and such payment on such and such bank account in such and such time etc.
Now, we agreed that BitConfirm will do the verification and we both signed by keys that will be used to send and receive this 1 BTC, then one of us or both sent this crypto-agreement to BitConfirm and BitConfirm needs to sign this message to, before anyone will send any money. You send BitConfirm your login credentials. It works exactly like those companies I mentioned above, there are companies like that working and legal all around the world. BitConfirm checks and either confirms or not this transaction.
Of course there are other ways of formulating transaction, there are problems to be solved (deposits for transaction-spam preventions and BitConfirm's fees etc.), but basically if we trust BitConfirm (trust is their business), then we have following advantages:
-we can make transaction between ourselves, without needing any exchanged crippled by hyper-regulation and else
-we don't have to trust each other, as we trust BitConfirm
-we can prove BitConfirm's maliciousness - because BitConfirm had signed the message (check c above)) before anyone concluded bank transfer. So, we could present this signed agreement and, for example, our bank statement with digital signature from bank's side, and that would prove BitConfirm's maliciousness and put it out of business.
So, what are your thoughts?
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