Coinffeine: Re-decentralizing Bitcoin exchanges

AliceWonder

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Quote from: Beliathon on July 28, 2014, 12:23:58 PM

Quote from: AliceWonder on July 28, 2014, 01:05:18 AM

Using a de-centralized exchange could (in some places) end up with prosecution if you transfer over a certain value.

Some places (at least the US) require transfers over a certain value be reported.

Only if you fail to use the available tools to protect your identity.

no one has perfect opsec.

Beliathon

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https://youtu.be/PZm8TTLR2NU

Quote from: AliceWonder on July 28, 2014, 01:05:18 AM

Using a de-centralized exchange could (in some places) end up with prosecution if you transfer over a certain value.

Some places (at least the US) require transfers over a certain value be reported.

Only if you fail to use the available tools to protect your identity.

And as time goes on, and these draconian regulations pop-up in different places around the world, those tools will become more and more abundant and more and more user-friendly.

Bitcoin is like that ancient mythical beast, the Hydra. Regulators think they can defeat it by cutting off one of its many heads.

What a terrible miscalculation they have made... Cut off one head, two more will grow in its place.

There are some foes you cannot defeat, for them the only way to win (read: survive), is by not fighting at all.

Ron~Popeil

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Trustless servers would get the crypto side done. The fiat side would be the issue. Someone would have to have a merchant or bank account wouldn't they?

Tenarlty

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MINTER

The Off/On ramps in the banking industry are still a problem though. Closed bank account and you are dead in the water.

Riniaiokl

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Well this could get interesting... Why not go decentralized from the get! Why must you start in centralized mode?

AlPutino

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Quote from: PalmerLaura on July 28, 2014, 12:36:43 AM

A side thought: Decentralized exchanges seem to be an inevitable step for bitcoin. Problem is, centralized exchanges like coinbase are making millions. They have a lot to lose if decentralized exchanges take over.. So, I think that we will start to see centralized exchanges like coinbase fighting to maintain "control" in a similar fashion to how banks and governments are doing with bitcoin in general. Thoughts?

It's the sort of fight cryptocurrency should thrive on.
I, for one, can't wait to see exchanges built into every wallet of every coin.

AliceWonder

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Quote from: smashingpumpkin on July 28, 2014, 03:53:25 AM

What I undestand is that centralized exchanges will need to comply with NY BitLicense. Coinffeine doesn't.

Only the ones that operate in New York.

smashingpumpkin

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Quote from: mamarried on July 28, 2014, 02:26:43 AM

Quote from: PalmerLaura on July 28, 2014, 12:36:43 AM

A side thought: Decentralized exchanges seem to be an inevitable step for bitcoin. Problem is, centralized exchanges like coinbase are making millions. They have a lot to lose if decentralized exchanges take over.. So, I think that we will start to see centralized exchanges like coinbase fighting to maintain "control" in a similar fashion to how banks and governments are doing with bitcoin in general. Thoughts?

The Coinbases of the world will make most of their money from merchant accounts and mainstreamers who honestly don't know or care about the advent of decentralized exchanges.

Could decentralized exchanges and markets overtake the mainstream someday in the distant future? Perhaps... but, I seriously wouldn't bet on it happening anytime soon.

What I undestand is that centralized exchanges will need to comply with NY BitLicense. Coinffeine doesn't.

mamarried

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Quote from: PalmerLaura on July 28, 2014, 12:36:43 AM

A side thought: Decentralized exchanges seem to be an inevitable step for bitcoin. Problem is, centralized exchanges like coinbase are making millions. They have a lot to lose if decentralized exchanges take over.. So, I think that we will start to see centralized exchanges like coinbase fighting to maintain "control" in a similar fashion to how banks and governments are doing with bitcoin in general. Thoughts?

The Coinbases of the world will make most of their money from merchant accounts and mainstreamers who honestly don't know or care about the advent of decentralized exchanges.

Could decentralized exchanges and markets overtake the mainstream someday in the distant future? Perhaps... but, I seriously wouldn't bet on it happening anytime soon.

mamarried

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Quote from: PalmerLaura on July 28, 2014, 12:36:43 AM

A side thought: Decentralized exchanges seem to be an inevitable step for bitcoin. Problem is, centralized exchanges like coinbase are making millions. They have a lot to lose if decentralized exchanges take over.. So, I think that we will start to see centralized exchanges like coinbase fighting to maintain "control" in a similar fashion to how banks and governments are doing with bitcoin in general. Thoughts?

That's like saying that iTunes, Netflix, and Amazon On Demand feel threatened by BitTorrent and constantly fight against it.
Pro tip: They, and their tens of millions of mainstream customers, are not too worried about BitTorrent (if at all).

AliceWonder

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https://www.ffiec.gov/bsa_aml_infobase/pages_manual/OLM_017.htm

AliceWonder

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Using a de-centralized exchange could (in some places) end up with prosecution if you transfer over a certain value.

Some places (at least the US) require transfers over a certain value be reported.

It will be interesting to see what happens legally.

StatusSeeking

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How does it work though?

PalmerLaura

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IPSX: Distributed Network Layer

A side thought: Decentralized exchanges seem to be an inevitable step for bitcoin. Problem is, centralized exchanges like coinbase are making millions. They have a lot to lose if decentralized exchanges take over.. So, I think that we will start to see centralized exchanges like coinbase fighting to maintain "control" in a similar fashion to how banks and governments are doing with bitcoin in general. Thoughts?

taylortyler

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www.coinfinance.com/news/coinffeine-re-decentralizing-bitcoin-exchanges

Topic: Coinffeine: Re-decentralizing Bitcoin exchanges (Read 1430 times)