Coinffeine the world first decentralized Bitcoin exchange in 70 countries

grahamdebarra

newbie

Activity: 14

Merit: 0

Quote from: manselr on July 23, 2015, 11:40:17 AM

I dont really understand this to be honest. Will decentralized p2p exchanges like this allow for tons of transactions per second like it happens in centralized exchanges like the usual Poloniex, Cryptsy ones etc? because we need tons of transactions to do day trading if you are into that.
Otherwise exchanges like this will only be useful for the occasional buy of BTC, just like LocalBitcoins.

Some people use platforms like localbitcoins.com a lot though and their substantial amount of trading is on that because P2P trading can still be digital and fast. So the demand for a decentralised marketplace is there. I do agree that for large trades online then major exchanges are more appealing but P2P trading is still popular.

manselr

legendary

Activity: 868

Merit: 1006

I dont really understand this to be honest. Will decentralized p2p exchanges like this allow for tons of transactions per second like it happens in centralized exchanges like the usual Poloniex, Cryptsy ones etc? because we need tons of transactions to do day trading if you are into that.
Otherwise exchanges like this will only be useful for the occasional buy of BTC, just like LocalBitcoins.

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Is this working now or not? I have heard about it and followed this project a bit but lately I have completely lost the touch with it.

This is what crypto world needs badly, too many exchange failures in the past is what is hurting us a lot.

spazzdla

legendary

Activity: 1722

Merit: 1000

Quote from: cryptworld on July 23, 2015, 10:02:44 AM

I hope this is the beginning of a new era of decentralized markets

markets are the bad part of bitcoin,manipulation is so hard

agreed

Slark

legendary

Activity: 1862

Merit: 1004

Honestly, I would like to see that first concept working first... because as you guys mentioned there are couple of great decentralized bitcoin exchange initiatives already but every one of them is in planning stage.
No one ever presented even working beta version of service like that. All we have are algorithms and source codes and we could never have real working exchange.

newIndia

legendary

Activity: 2226

Merit: 1052

Quote from: misterycoins on July 23, 2015, 08:56:03 AM

What the Coinffeine team in Spain is trying to accomplish is a decentralized cryptocurrency exchange. An exchange that does not have a central authority which leads to a single point which is prone to failure, scams, and other unpleasantries.

http://themerkle.com/news/coinffeine-decentralized-trading-algorithm/

It avoids central point of failure - True.

It prohibits scams - False.

Moreover, it can only be integrated with irreversible API enable FIAT payment processor, currently OKpay only.

MF Doom

hero member

Activity: 560

Merit: 500

Quote from: BillyBobZorton on July 23, 2015, 09:07:52 AM

Quote from: misterycoins on July 23, 2015, 08:56:03 AM

What the Coinffeine team in Spain is trying to accomplish is a decentralized cryptocurrency exchange. An exchange that does not have a central authority which leads to a single point which is prone to failure, scams, and other unpleasantries.

http://themerkle.com/news/coinffeine-decentralized-trading-algorithm/

Looks pretty cool, i've been following the development of this for a long time. Is it really fully working now?
The bank will still see an incoming transaction tho, if you are moving too much money or too frequently, what will you say? We still are tied to banks as long as you withdraw to fiat.

A lot of people try to say "use local bitcoins" but not everyone has that much local buyers waiting and buying consistently. Especially if you sense a drop in price coming, or just need to exchange for fiat for any reason in a short amount of time, a direct sell always works best.

This is an issue that hopefully this exchange could get around. What if they partnered with say xapo and allowed fiat withdrawals directly to your debit card and not necessarily to a bank?

cryptworld

hero member

Activity: 714

Merit: 503

I hope this is the beginning of a new era of decentralized markets

markets are the bad part of bitcoin,manipulation is so hard

mezmerizer9

hero member

Activity: 782

Merit: 1000

Is it same to https://shapeshift.io/? As you mentioned, you act as an escrow, both parties are sending the fund to you! Our money's safety is still relying on your system. What is the level of your decentralization?

Amph

legendary

Activity: 3248

Merit: 1070

this isn't something new, there is already a good attempt, at doing a decentralized exchange see bitshares 2.0, they also have their source code on github

BillyBobZorton

legendary

Activity: 1204

Merit: 1028

Quote from: misterycoins on July 23, 2015, 08:56:03 AM

What the Coinffeine team in Spain is trying to accomplish is a decentralized cryptocurrency exchange. An exchange that does not have a central authority which leads to a single point which is prone to failure, scams, and other unpleasantries.

http://themerkle.com/news/coinffeine-decentralized-trading-algorithm/

Looks pretty cool, i've been following the development of this for a long time. Is it really fully working now?
The bank will still see an incoming transaction tho, if you are moving too much money or too frequently, what will you say? We still are tied to banks as long as you withdraw to fiat.

misterycoins

sr. member

Activity: 249

Merit: 250

What the Coinffeine team in Spain is trying to accomplish is a decentralized cryptocurrency exchange. An exchange that does not have a central authority which leads to a single point which is prone to failure, scams, and other unpleasantries.

http://themerkle.com/news/coinffeine-decentralized-trading-algorithm/

Topic: Coinffeine the world first decentralized Bitcoin exchange in 70 countries (Read 592 times)