Topic: [ANN] peatio.com the world's first 100 percent public owned bitcoin exchange - page 3. (Read 16328 times)

our dev's are woking now. it'll be very simple version of alpha soon.

Any update?

As long as nations require their citizens to pay taxes in fiat, then my statement will always be true. It doesn't matter how many goods or services can be purchased in Bitcoins, Litecoin, Feathercoin or other Crypto-currencies. If income is taxed and taxes are paid in fiat, then you will need to exchange your CC for fiat.


Again my discussion and the crux of my statement involved fiat to CC exchanges. CC to CC exchange doesn't even require a central entity. In just a few years, all of these transactions can be done through a p2p network without the need for trust or escrow. In short, the business model you are advocating is obsolete and thus irrelevant to this conversation.


This statement only serves to support my OP. I assert that exchanges have unique information security challenges and require enormous amounts of trust. Your point only serves to validate the core premise of Peatio that seeks to handle these issues in a more transparent and collaborative manner than they have been addressed by the incumbents.


Does your government accept taxes in CC? If not, then you are simply wrong. If you receive payment for goods or services in a CC, then you must convert a percentage into fiat to pay your taxes unless your intention is to be a criminal. Even if you as an individual decide to embrace this lifestyle, businesses cannot.



Again, you clearly do not understand that one does not require a centralized exchange for CC to CC transactions. The technology exists to accomplish these transactions in a completely trust and escrow free environment without any middleman. You are advocating a business model that would lead to financial ruin.

If enough places accept digital currencies directly this statement will be false.  It is a pretty bold statement. and probably myopic  to speak of 'always' as an absolute.   The primary value of a fiat to digital currency exchange is as you say.  You are of course by definition wrong for other types or other focused  exchanges.  In fact, it is partially due to this being a monstrous task that other types of exchanges are desirable when the overhead of those tasks is not desired.  Especially the absurd kyc requirements that have every tom dick and harry business keeping copies of IDs, and asking the same stupid verification questions.  So a break in to any of these leaks enough information to use your identfy elsewhere.    Think it is a coincidence we have a rise in identity theft with the rise in kyc laws?


You are making my points for me.   The high overhead and additional risks create a demand for other types of exchanges when you do not need to take on these risks.


I actually hope it stays that way.  I would prefer to see more exchanges that do not offer fiat as an option.

BTC to fiat transactions are and always will be the most important in the ecosystem. The primary value of any exchange is how well it can facilitate these transactions and manage the legal, regulatory, technological and social aspects of fiat exchange. It's simply a monstrously difficult task, which is why so many exchanges have failed or haven't meet community expectations.

Also the other challenge is the nature of all the required partnerships a successful exchange must have. These include banks, law firms, regulatory agencies, other exchanges and businesses requiring liquidity in their business models. If a partner fails, it can cascade to the customers of an exchange causing delays or loss of funds. Then there is the issue of bad actors who use DDOS attacks alongside other tools to manipulate the markets to their own ends.

In short, entering this business isn't easy and it requires a thick skin as well as a tolerance for failure. Vircurex hasn't developed as nor is prepared to be a legitimate player in the crypto-currency to fiat market.

Irrelevant to them being public trade already though.  In addition vircurex mostly specializing in coin2coin trades,  what is being measured in the link you posted?  btc to fiat only?

patient,patient and patient

  any updates?

Vircurex's marketshare is incredibly low:

https://bitcointalksearch.org/topic/m.2355726

Not exactly an endearing business model to investors. Peatio is going to be a revolution in exchanges.

Can't wait

 

Thank you for answering my question. I did not realize that Vircurex was publicly traded.

Keep working OP and the team! We are waiting patiently~

I know of two off hand.

Vircurex ( https://cryptostocks.com/securities/34 ) and Crypto-Trade ( https://btct.co/security/CRYPTO-TRADE ).   A little surprised you did not find them doing your market/competitor analysis, especially Vircurex as it has been around for awhile.

 

you got me. 

We'd have to keep replying this post so OP would feel pressured to make it online asap. :-))