Is it Possible? | Bitcointalksearch.org

Singlebyte

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Quote from: williecity on March 04, 2014, 06:39:57 PM

Quote from: Singlebyte on March 04, 2014, 06:31:04 PM

Quote from: williecity on March 04, 2014, 06:20:09 PM

Some kind of desktop app that doubles as a decentralised exchange not controlled by anyone, that is the way to go

OpenTransactions does that. The decentralized server side software completes the transactions you implement on your desktop software. Watch the videos for more information:

Wiki
http://opentransactions.org/wiki/index.php?title=About

Exchange demo video
https://drive.google.com/file/d/0B1elJotjR_t6OS1pV3duMEpWSGs/preview?pli=1

why is this not common

1. Still in development - just in beta
2. Adoption not realized. (Network not established)
3. Learning curve. (This new technology takes some reading to understand/comprehend)
4. Market is still maturing. Takes time for people to adapt.

williecity

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Quote from: Singlebyte on March 04, 2014, 06:31:04 PM

Quote from: williecity on March 04, 2014, 06:20:09 PM

Some kind of desktop app that doubles as a decentralised exchange not controlled by anyone, that is the way to go

OpenTransactions does that. The decentralized server side software completes the transactions you implement on your desktop software. Watch the videos for more information:

Wiki
http://opentransactions.org/wiki/index.php?title=About

Exchange demo video
https://drive.google.com/file/d/0B1elJotjR_t6OS1pV3duMEpWSGs/preview?pli=1

why is this not common

Singlebyte

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Quote from: williecity on March 04, 2014, 06:20:09 PM

Some kind of desktop app that doubles as a decentralised exchange not controlled by anyone, that is the way to go

OpenTransactions does that. The decentralized server side software completes the transactions you implement on your desktop software. Watch the videos for more information:

Wiki
http://opentransactions.org/wiki/index.php?title=About

Exchange demo video
https://drive.google.com/file/d/0B1elJotjR_t6OS1pV3duMEpWSGs/preview?pli=1

williecity

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Some kind of desktop app that doubles as a decentralised exchange not controlled by anyone, that is the way to go

Lauda

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Terminated.

Quote from: Singlebyte on March 04, 2014, 05:18:56 PM

Then you are clueless. Bitcoins run on p2p servers and they run just fine......

Satoshi said to not trust third party players in a two party transaction. That's why bitcoin was developed. A centralized exchange brings back the "3rd untrusted" party back to the table. Once we see decentralized exchanges then the system will be back in check.

You're foolish.
I'm ingenious. Trust me with your coins.

franky1

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with a system of swapping coin for fiat directly between people decentralised (where no one in the middle touches your funds)
there is a problem

you banks see (if a day trader) 100's of a wire transfers per day on 'personal accounts'. banks would instantly freeze your accounts if you do not pre-warn them of what the trades are about. as it will 100% be a big fat red flag on their AML system.

if you are only doing one trade a day. you would be better off with local bitcoins.

atleast look at the reality of wire transfers. instead of the uptopian dream of the bitcoin decentralisation when trying to combine the two..

Singlebyte

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Quote from: Lauda on March 04, 2014, 05:09:25 PM

Quote from: Singlebyte on March 04, 2014, 05:03:57 PM

Don't "trust" any centralized service. They all have the potential to run away with your money or get hacked.

And it is not Satoshi's vision....

Decentralized services/exchanges are coming.

Okay then, trust me. I'm a bot made out of servers. Each operating with their own 'mind'.

Then you are clueless. Bitcoins run on p2p servers and they run just fine......

Satoshi said to not trust third party players in a two party transaction. That's why bitcoin was developed. A centralized exchange brings back the "3rd untrusted" party back to the table. Once we see decentralized exchanges then the system will be back in check.

pening

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Whats wrong with a centralised exchange that offers only that functionality, without server side wallets to hold bitcoin? This would address the issue in hand.

Lauda

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Quote from: Singlebyte on March 04, 2014, 05:03:57 PM

Don't "trust" any centralized service. They all have the potential to run away with your money or get hacked.

And it is not Satoshi's vision....

Decentralized services/exchanges are coming.

Okay then, trust me. I'm a bot made out of servers. Each operating with their own 'mind'.

Singlebyte

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Quote from: Lauda on March 04, 2014, 04:57:41 PM

Quote from: E.exchanger on March 04, 2014, 04:56:15 PM

Well i will love to see that happen cuz after gox i don't trust any exchange anymore i know its unfair to say for the ones running legit but i guess its what most of us have in our mind !

Trust Bitstamp.

Don't "trust" any centralized service. They all have the potential to run away with your money or get hacked.

And it is not Satoshi's vision....

Decentralized services/exchanges are coming.

Lauda

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Terminated.

Quote from: E.exchanger on March 04, 2014, 04:56:15 PM

Well i will love to see that happen cuz after gox i don't trust any exchange anymore i know its unfair to say for the ones running legit but i guess its what most of us have in our mind !

Trust Bitstamp.

E.exchanger

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NEED CRYPTO CODER? COIN DEVELOPER? PM US FOR HELP!

Well i will love to see that happen cuz after gox i don't trust any exchange anymore i know its unfair to say for the ones running legit but i guess its what most of us have in our mind !

Lauda

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Quote from: AnonyMint on March 01, 2014, 11:39:40 PM

Quote from: johnyj on March 01, 2014, 11:08:39 PM

It is called localbitcoins

Incorrect.

You're a foolish person.

@OP
Yes, this is possible, but very hard to make.

keithers

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This is the land of wolves now & you're not a wolf

There has been talk of this going on for a long time, but the one problem that can't be solved (so far at least), is that with a pure P2P exchange, there is nothing that forces the buyer or seller to commit to one particular price exchange rate. A person can say that they are going to fill a buy order at a specific price, but if that price changes, there is nothing to make that seller (or buyer), honor that price...

Singlebyte

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Quote from: Meuh6879 on March 04, 2014, 04:12:25 PM

Quote from: williecity on February 26, 2014, 12:33:29 AM

Is it possible to create a decentralized way of buying and selling Bitcoins,
Like a program that can be installed on any computer and function like MtGox.

No.

Because ...

FIAT money is a BANK system !
Mastercard/visa ... wire, SEPA, etcs !

Yes it is possible....

Several are being developed right now. They will use payment gateways to get fiat ( or any other asset) in and out of the system. Some of the projects that are working on it in one form or another are:

Buttercoin (not sure if they are still working on decentralized)
OpenTransactions
Ripple
Ethereum
Invictus (bitshares)
Counterparty

I realize some on the list also will do other services, but they are all steps in the right direction. We are not too far away from seeing decentralized exchanges and other services.

flatfly

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760930

Quote from: williecity on February 26, 2014, 12:33:29 AM

Is it possible to create a decentralized way of buying and selling Bitcoins,
Like a program that can be installed on any computer and function like MtGox.

If this can be done, Bitcoin will be completely independent.

AFAIK the only such system already up and running is Counterparty / XCP. Research it.
Although still in early alpha and not ready for mainstream users, its potential really is exciting.

Meuh6879

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Quote from: williecity on February 26, 2014, 12:33:29 AM

Is it possible to create a decentralized way of buying and selling Bitcoins,
Like a program that can be installed on any computer and function like MtGox.

No.

Because ...

FIAT money is a BANK system !
Mastercard/visa ... wire, SEPA, etcs !

apsvinet

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Quote from: bitvestor on March 04, 2014, 12:27:55 PM

Quote from: johnyj on March 01, 2014, 11:08:39 PM

It is called localbitcoins

Very incorrect! I will love to see what the OP is talking about HAPPEN!

Yeah what are you talking about? That's nothing related to what OP is asking for.
I'd love to see that happen too, it would remove the risks of getting goxxed again.

bitvestor

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Quote from: johnyj on March 01, 2014, 11:08:39 PM

It is called localbitcoins

Very incorrect! I will love to see what the OP is talking about HAPPEN!

AnonyMint

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Quote from: johnyj on March 01, 2014, 11:08:39 PM

It is called localbitcoins

Incorrect.

Topic: Is it Possible? (Read 2054 times)