I know that this topic is a bit out of date, but just in case you are still interested in a P2P Fiat-BTC exchange, I wanted to post an update of our project and announcement for our crowd funding campaign which will end in a few days (on February 9th).
Bitsquare released an alpha version in December and it can be tested at our regular testing sessions with other traders (testnet).
Today 17:00 CET we have such a session. Feel free to join us on our IRC channel #bitsquare-trading on Freenode.
Further information can be found here:
https://github.com/bitsquare/bitsquare/wiki/Bitsquare-WAN-Parties
Regarding the crowd funding campaign:
We are using Lighthouse as decentralized crowd funding solution to iteratively fund the development of every milestone, leading to a fully functional version 1.0.
The funding goal is 120 BTC for the next milestone and the campaign ends in a few days on February 9th.
Please visit our web page for more details:
https://bitsquare.io/crowdfunding
If you like to support that project please help us to spread the word.
Best regards,
Manfred
Topic: Interest in a P2P Exchange (Read 5301 times)
Personally, I have no interest in daytrading. And I would never participate in anything with even a whiff of Ripple to it. It's completely centralized, and I want no part of it.
We just need to make a decentralized version of Ripple, right?
This sounds to be a good idea
Personally, I have no interest in daytrading. And I would never participate in anything with even a whiff of Ripple to it. It's completely centralized, and I want no part of it.
We just need to make a decentralized version of Ripple, right?It looks like many people expect Ripple to have decentralized fund storage too or think it would be possible to have trustless distributed funds storage. Nope, just look at all these threads that pop up from time to time... they all so far were easily able to be backmailable or just work on crypto currencies in the first place.
I like the idea of a P2P exchange.
Scientific Statistical Polling algorithms would need to be written into the client. People trading would report what the exchange rate was for each trade. I think it would be better to only count Smart Phone Trades to start to keep 'outliers' to a minimum but with proper execution we should be able to get to a proper average price.
I'd align the idea of Singular Exchanges for every transaction aggregated through algorithms to determine a moving average.
Plus, using Smart Phone services when it come time to trade, you could turn ON the option for Trading and quickly locate local traders with their Trading option in the ON position.
The down side is 'Large' trades but that's for others to worry about. I'd rather see the average guy quickly get into and out of BTC and let the 'big' guys solve the big trade problem.
Scientific Statistical Polling algorithms would need to be written into the client. People trading would report what the exchange rate was for each trade. I think it would be better to only count Smart Phone Trades to start to keep 'outliers' to a minimum but with proper execution we should be able to get to a proper average price.
I'd align the idea of Singular Exchanges for every transaction aggregated through algorithms to determine a moving average.
Plus, using Smart Phone services when it come time to trade, you could turn ON the option for Trading and quickly locate local traders with their Trading option in the ON position.
The down side is 'Large' trades but that's for others to worry about. I'd rather see the average guy quickly get into and out of BTC and let the 'big' guys solve the big trade problem.
hero member
Activity: 756
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It's all fun and games until somebody loses an eye
Personally, I have no interest in daytrading. And I would never participate in anything with even a whiff of Ripple to it. It's completely centralized, and I want no part of it.
We just need to make a decentralized version of Ripple, right?
Personally, I have no interest in daytrading. And I would never participate in anything with even a whiff of Ripple to it. It's completely centralized, and I want no part of it.
Summary: Retarded idea. There is currently no way to implement a p2p exchange. The problem is there is no way to move fiat.
There is:
I just announced a proposal for a P2P Fiat-Bitcoin Exchange which solves the "how to get the fiat in/out" problem.
BANK RUN! - P2P Fiat-Bitcoin Exchange
https://bitcointalksearch.org/topic/bank-run-p2p-fiat-bitcoin-exchange-462236
Yep! This is the way to do it, and the only way I've been able to think of keeping Bitcoin and other crypto currencies free without being limited to doing exchanges in person. Very good job, k99.
Summary: Retarded idea. There is currently no way to implement a p2p exchange. The problem is there is no way to move fiat.
There is:
I just announced a proposal for a P2P Fiat-Bitcoin Exchange which solves the "how to get the fiat in/out" problem.
BANK RUN! - P2P Fiat-Bitcoin Exchange
https://bitcointalksearch.org/topic/bank-run-p2p-fiat-bitcoin-exchange-462236
The problem I see with your investment approach is this:
1. You want to invest / risk a capital of $100k - $500k over 24 months in a Bitcoin-related venture.
2. You want to get - by your own words - ROI (Return On Investment) around 200-300 percent of capital at risk over a 24 month period
3. Then you say you do not want to calculate your ROI on the capital you will invest in the venture, but - by your own words - you want to calculate ROI from the appreciation of bitcoin
4. Hypothetically:
a) if the venture fails (some ventures fail you know) and you lose your $100k - $500k invested, but
b) bitcoin value appreciates by 200% - 300% independent of your business failing (or even succeeding)
you would still calculate your ROI (Return on Investment) at 200% - 300% even if your venture goes bankrupt?
Come on, this simply makes no sense. I suspect you started another non-thread to promote your courses.
5. Finally, when asked whether you had bought or invested in a business before, you replied ''Yes''. I did many MBOs and LBOs during my carrier in venture capital business; trust me, you have no idea what buying businesses is about.
1. You want to invest / risk a capital of $100k - $500k over 24 months in a Bitcoin-related venture.
2. You want to get - by your own words - ROI (Return On Investment) around 200-300 percent of capital at risk over a 24 month period
For a venture of this nature, I'd like an ROI around 200-300 percent of capital at risk over a 24 month period.
3. Then you say you do not want to calculate your ROI on the capital you will invest in the venture, but - by your own words - you want to calculate ROI from the appreciation of bitcoin
My returns come directly from the appreciation of bitcoin. Sorry mate.
4. Hypothetically:
a) if the venture fails (some ventures fail you know) and you lose your $100k - $500k invested, but
b) bitcoin value appreciates by 200% - 300% independent of your business failing (or even succeeding)
you would still calculate your ROI (Return on Investment) at 200% - 300% even if your venture goes bankrupt?
Come on, this simply makes no sense. I suspect you started another non-thread to promote your courses.
5. Finally, when asked whether you had bought or invested in a business before, you replied ''Yes''. I did many MBOs and LBOs during my carrier in venture capital business; trust me, you have no idea what buying businesses is about.
Lol, the purpose of the thread was to ask about the community's interest in P2P exchanges. It definitely has worked. That said, fucking nice thread Luke. Seriously its exactly what I was looking for.
I apologize... There was just too much talk about Ripple in here just before I posted that. 
Looks like usscfounder has added a few good ideas here too.
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1. What kind of control will you exercise over your investment. Will you engage in operations, strategy, others?
For a grant, it would be for the production of peer reviewed research thus none whatsoever. For an X-Prize, I fund a trust that has triggers to give the money to someone who "wins". These would be based upon BTCLuke's criterion amongst other factors. I probably wouldn't be the only party involved in this investment.
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2. Have you ever bought a business / invested in one?
Yes, and those affairs are private as are yours.
1. What kind of control will you exercise over your investment. Will you engage in operations, strategy, others?
2. Have you ever bought a business / invested in one?
2. Have you ever bought a business / invested in one?
That it's a terrible idea 
But making Bitcoin more valuable for everyone is a good business strategy and one I suppose people here would get behind regardless of how much they dislike me.
But making Bitcoin more valuable for everyone is a good business strategy and one I suppose people here would get behind regardless of how much they dislike me. If I invest in someone's project, then it will be in the form of a grant without any equity or return expectation.
What do your courses say about the way you want to non-protect your investment? Sorry, couldn't resist, mate.
The formula I'm using is based upon my current holdings in bitcoin. If I was to divulge it, then I'd be instantly telling everyone the approximate size of my holdings in bitcoin as soon as I make an investment and state my expected return.
If I invest in someone's project, then it will be in the form of a grant without any equity or return expectation. My returns come directly from the appreciation of bitcoin. Sorry mate.
If I invest in someone's project, then it will be in the form of a grant without any equity or return expectation. My returns come directly from the appreciation of bitcoin. Sorry mate.
Come on, just give me the formula you will calculate ROI.
People who are interested to get your money want to know your investment criteria in a an easy calculable form, to see if they can meet these criteria.
People who are interested to get your money want to know your investment criteria in a an easy calculable form, to see if they can meet these criteria.
Lol, there really isn't one because I'm basing my ROI on the impact a P2P exchange would have on the price and stability of bitcoin. It wouldn't be possible to measure this outside of saying it has a significant impact.
Let's change the question to asking what factors would it take for the value of bitcoin in USD to increase an order of magnitude? First, I believe bringing several millions of people into the ecosystem would be a significant factor. Second, large business adoption would also contribute to this increase. Finally, stable exchanges that are beyond the scope of regulation and capable of scaling to any amount of transactions.
I firmly believe that if these three factors are properly implemented Bitcoin's value will be over 1,000 USD per coin. I have fairly sizeable holdings in BTC thus I have an incentive to see them through. Hence I launched the Bitcoin Education Project to bring millions into the ecosystem. I've been discussing with many people in the community how to bring large corporations into the Bitcoin ecosystem. And the last piece is the P2P exchange. I'll guess each have an equal part and thus are worth 1/3 of the order of magnitude price increase.
Let's change the question to asking what factors would it take for the value of bitcoin in USD to increase an order of magnitude? First, I believe bringing several millions of people into the ecosystem would be a significant factor. Second, large business adoption would also contribute to this increase. Finally, stable exchanges that are beyond the scope of regulation and capable of scaling to any amount of transactions.
I firmly believe that if these three factors are properly implemented Bitcoin's value will be over 1,000 USD per coin. I have fairly sizeable holdings in BTC thus I have an incentive to see them through. Hence I launched the Bitcoin Education Project to bring millions into the ecosystem. I've been discussing with many people in the community how to bring large corporations into the Bitcoin ecosystem. And the last piece is the P2P exchange. I'll guess each have an equal part and thus are worth 1/3 of the order of magnitude price increase.
For a venture of this nature, I'd like an ROI around 200-300 percent of capital at risk over a 24 month period.
Now, we are getting somewhere. How do you calculate your ROI? There are tens of different formulas for ROI over the internet. I would like to know the formula you will be applying.
For a venture of this nature, I'd like an ROI around 200-300 percent of capital at risk over a 24 month period.
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Can you please specify the rate of return you expect to get on your investment and over what period of time?
It is incredibly difficult to determine VAR in something related Bitcoin and it is entirely possible to design a P2P exchange without any profit to a central hub. I may assess my ROI based upon the effect having an exchange like the one BTCLuke described would have on the value of my current bitcoin holdings. For example, this exchange would functionally remove most of the liquidity issues resulting in actors like Amazon and Paypal likely entering the market. Such an increase in demand could drive the price per BTC up at least an order of magnitude.
As the initial investment is measured based upon its effect on the price of bitcoin, my investment would be proportional to my holdings of btc.
To answer your question, I would view an investment of this nature as a gamble. I would be entirely ok with losing everything for a chance at seeing this work. Thus I may consider an X-Prize style investment with a set of criterion and the first person to satisfy them would receive the prize.
Come on. This is a non-answer.
Tell me point blank the region of IRR you want. If you do not like IRR you can use other method you will calculate your expected return. You mentioned ''return'' as one of the components of your investment scheme. I simply want to know what return and over what period of time you expect. This isn't a difficult task, is it?
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