Topic: Decentralised-Liquidity Exchange -- 'D-L-Ex' - page 39. (Read 63134 times)

We just tend to over analyze everything in crypto. This is so simple, "Hey, want $10 of UNO?" We agree on the current price, I send IMZ the coin, you send me a $10 US bill in the mail, we confirm and complete. Finished in 2-3 days tops. For example. We really should be doing this a lot, and for smaller amounts between us regulars im not even too worried about escrowing I'm just throwing that out there.

We can decouple from Bitcoin in ways of anonymity from the exchange markets and from BTC value lock by using and buying coins for cash instead of involving Bitcoin. IF, anyone wants to try this, It's very simple and inexpensive, and pretty safe to fold a $5 bill in a piece of paper and mail it in a security envelope. The cost or "transaction fee" being a bit higher just for the price of the stamp. Obviously with trusted traders and through escrow I'd say we can easily buy in cash bills in any increments, $5, 10, 20, 50, or a $100 worth, transaction fee is pretty much only the cost of a stamp. Which I had to go look, is currently $.49 cents a stamp here. So that's a bit of a steep fee for only $5, but that's a judgement call on the buyer. What would an exchange charge to buy 5 worth with BTC? AND are you paying a markup or fee to buy that BTC? I'm tired of all the exchanges personally, and so I'd rather use cash, and I'd rather not involve or use a bank account(In fact I WON'T use a bank account for crypto). Defeats the entire purpose of cryptocurrency. We've gotten away from the fundamentals.

@IMZ: That's about 3-4 hardforks for ETH since it's inception now, right? That cumbersome relational database is a mess. It's not a cryptocurrency. The silver may be here today, in my area there's no storm coming until late tonight or tomorrow, and it's noon now and mail will go in the next hour or two. Yes, international bullion isn't so very cost effective, but I intend on paying you your effort, shipping, etc. for it because I like the fact I've bought silver once from the Netherlands, and now twice from Australia with using only Unobtanium. Gives it a cool personal touch.

Sorry, ONE last thing that bears mentioning about using UNO. The network is currently so underutilized that sending a transaction half the time doesn't even cost you a transaction fee. Can't do that with Bitcoin. Won't always be this way, but we are using a greatly underutilized and secure blockchain to transact.  

https://www.youtube.com/watch?v=dVqqWUyDPzA

LOL

small escrow services is in the cards of what 'D-L-Ex' can and will do.
also directly connecting vouched p2p trades of any and all kind.
micro-localbitcoins or square ... why not

POT coins has built a website platform that can be used right now linking local fiat/crypto.
Always the big issue is adoption/user base.

Work with the tools already out there.  And make connections within the 'D-L-Ex' circle.

The path of least resistance (at least for me) is buying BTC locally then converting to ALT of choice.

The impact of the Cryptsy coins remains ahead of us.
but
we know what we're facing
and are addressing the issue

[a noticeable silence/ignorance from other coin camps facing worse situation]

any of them lurking?

please consider reaching out and working with the UNO camp     

What are Uno’s pros and cons?

Simple and solid.

[Big day today!] https://www.cryptocoinsnews.com/gavin-wood-calls-quick-ethereum-hardfork-fix-dos-attacks/

You have been gracious enough to listen to years of my misgivings about Uno's direction (community's orientation -- never Uno as an 'instrument of exchange.' It's a fine instrument!) In recent months, the tightness of the buy-sell has been for me the best signal that Uno will serve our purpose.

Hey ya, RDD! That ounce of silver must be laying low 'til the hurricane is past. Don't worry.

An international bullion or cash trade is a clumsy and gleefully-undertaken proof of concept, but surely not generally viable.

D L Ex exists to serve as a base for Big Big Ideas -- heck! some folk hate us just for our enthusiasm/'naivete.'

I know that one reason Bitcoin National has worked so hard with Ian and I is that he remembers 'The Mall' and associated ideas.

For the interim, we need only keep this thread hummin' along as a hangout.

I really do think that the Cryptsy-coin auction will actually leave us all better positioned and clearer minded.

Another idea I'd like to touch on here and something much needed (like OTC) but maybe we can do some rather small escrowed or otherwise cash for crypto transactions/trades?

IMZ, I will mark our silver trade as completed here soon once I receive. This concept would not work well internationally, unfortunately. It also doesn't work well for someone wishing to remain anonymous or pseudonymous.
Idea is simple. Instead of having to have Bitcoin or even another altcoin to buy Unobtanium or another wanted coin, we send cash by mail and escrow the crypto to someone here.

Can keep is super cheap and simple. For instance, I send a $5 bill to your house for $5 of UNO, vice versa. I like the idea. What say you?

buy-sell splits:TIGHT

< very big idea />

many of the ALTs (no matter how small)
if they:

1.maintain the basics of a functional blockchain
2.have a market
3.have TIGHT market splits

Then the crypto system will naturally use them as currency.

All they have to move value and hold value (for n_seconds).

Uno is under 4% is a great stat.
And I think it has already demonstrated the ability to transfer a couple $1000/24hr routinely.

But once the support/resistance 'float' is knocked out, it is still likely to behave explosively for 7-10days.
This is a reality for all freemarket limited resources.  It's going to happen periodically.   

0.03 high water is on the long charts; that range is likely to be attacked in the next 10-700 days.
0.005 looks to me like a rational range the can be held with confidence by the current community present.
0.002 has had large sums of BTC offered yet no one has flash dumped (consensus bedrock)

Morning, Shinohai! What I noticed is that total alt-coin cap has crept over 20%.

Also checked some buy-sell splits: Uno is under 4%; CBX is over 30%; DMD is v. tight: 2%; IXCoin and ZEIT are both over 40%. 10Coin is about 20%.

So, tight tight buy-sell split plus massive OTC volumes = entirely viable crypto.


And for the cynics: https://cointelegraph.com/news/monero-loses-darknet-market-in-apparent-exit-scam

This is all the fuck Roger Ver can ever talk about, just ignore him.

'Cointelegraph: Do you feel that Bitcoin has stagnated in any way?

Roger Ver: This isn’t a feeling. It is an independently verifiable fact. The blocks are completely full most of the time, so, the number of Bitcoin transactions each day is not able to increase to meet additional consumer demands. That is why we are seeing what used to be staunchly Bitcoin-only companies hurrying to integrate Alt coins.'

https://cointelegraph.com/news/roger-ver-why-staunchly-bitcoin-only-companies-now-hurry-to-integrate-altcoins

'Digital Certificates on the blockchain which can be directly sold on the Marketplace
Decentralized price pegging
Third party arbitrated escrow for secure transactions and buying with confidence' Post 17538, from over on the main thread: https://bitcointalk.org/index.php?topic=527500.13560

Can we find time to read up on this? How might it fit into D L Ex's future?

Have 'tightened' my (penny's worth) of buy-support on C-Cex.

[EDIT: C-Cex's buy-sell split is .00220-.00221. Excellent.]

And for the cynics on board, John Rubino is always good:

http://dollarcollapse.com/monetary-policy-2/imagine-fed-raising-rates-bail-in/

Although some hundreds of Uno were sold last night, the price stayed steady. Good.

I am treading water, waiting for the Cryptsy coin.

And D L Ex now sponsors an Uno node (Sydney)

7.3 Btc in buy-support. But volume low.

Does anyone have any details about the date of the auction?

[EDIT:

The Node Thang: Post 13552 @ https://bitcointalk.org/index.php?topic=527500.13540

Let me think this over.]


[And keep your eye on the Deutsche Bank thang.]

Wild Spring Storms have had me off air for a day and a half. Update shortly:

EDIT:

@ RDD: okay!

@ B.N.’s Node Thang (main thread): more detail, please.

@ Bankers do the lamp post swing:

http://www.bloomberg.com/news/articles/2016-10-01/deutsche-bank-charged-over-paschi-accounts-as-legal-hits-mount

[N.B.: there are rumours that the ‘news’ about a reduced fine, which stopped D.B.’s shares falling any lower on Friday, may have been false.]

I'm not personally willing to touch ETH as a whole, including ETC, it's the same thing. Cool concept to having turing complete language but premined and all garbled up to shit at this point and it never was a crypto currency. It's all about BTC, and BTC faithful derivatives to me these days. I will play with Litecoin and occasionally Feathercoin but now I'm waiting for Feathercoin to bottom out as I believe it's heading it way sub 1k sats so I pulled those trades. There were like 5% of the FTC sitting in Cryptsy wallets.

I want more physicals for UNO, and I'm still looking for someone from the UK to step up.

housing bubbles still lurk ... universal piggy bank

___
for the record
anyone is free to play ETH/UNO
personally i won't touch it (i am willing to play with Classic)

Fair volume this morning. Great buy-support: 7.9 Btc @ Crytopia/Bittrex, and offers on C-Cex for 400 Uno @ .002 or better.

I have 80 Uno available at .00221 each.

Thanks for your enthusiasm for Uno-Eth trades, B.N. I do appreciate that a lot of Uno folk aren’t pro-2.0. If you worked the Uno-Eth pair on C-Cex, I’ll provide liquidity both ways here.

My point is (apart from being pro-Eth . . . ) that 1.0-2.0 trades or Uno-darkcoin trades put Uno in the position of the being the ‘base’ coin. And don’t forget, campers, that ‘coin-wholesaling’ is our goal here, probably largely with Uno, but with other cryptos and bullion also – and yachts and expensive cars. And land with water.

I'd play C-Cex, the bots should sqaure to fair market price quickly.
Offer larger trades here ... but on the books trade is likely to be tight to market.