I suspect the use of a decentralized peer-to-peer exchange is likely the best long term solution.
See https://bitcointalksearch.org/topic/proposal-fully-decentralised-exchange-mechanism-for-all-cryptocurrencies-fiat-218516
Topic: How can we reduce our reliance on MtGOX? - page 2. (Read 1764 times)
I've been seeing a lot of talk about how relying on a single exchange makes the bitcoin system vulnerable.
I know there are other exchanges, but I can't see what they offer to distinguish themselves from Gox. This seems like an industry where economies of scale are in place. Gox has a natural monopoly of sorts.
There are also things like localbitcoins, and the possibility of spending the bitcoin. The problem here is these systems still rely on MtGOX for price discovery.
What alternatives could there be that would provide both exchangibility and price discovery?
I know there are other exchanges, but I can't see what they offer to distinguish themselves from Gox. This seems like an industry where economies of scale are in place. Gox has a natural monopoly of sorts.
There are also things like localbitcoins, and the possibility of spending the bitcoin. The problem here is these systems still rely on MtGOX for price discovery.
What alternatives could there be that would provide both exchangibility and price discovery?
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