Look at some of my recent posts including an offer where I've offered to pay for BTC blindly sent to me (and successfully done so).
I touch on my thoughts as to how developments and extensions to that idea could serve as a distributed exchange that could work for more than just me, if a good cryptography-based escrow scheme were involved. Meanwhile I'm putting effort into introducing one. In short, I believe an exchange that doesn't touch money - or perhaps something better described as an orderbook and escrow service - could do exactly what you have in mind.
Topic: Low liquidity exchanges or p2p (Read 746 times)
What would be required in order to have an exchange that holds no balance of it's own, or vastly minimizes the balance it holds?
- so you send your fiat or BTC and it gets converted as soon as it arrives for example
- or you pledge an trade, script something to autosend from a balance on your own computer but can still back out if you wish to cancel the process
- or simply automated payout to a preapproved or locked address/account
Problems I can foresee include:
- slow fiat system transfers
- slow bitcoin system transfer (confirmations)
But it could be a good setup for people who want the cash on the exchange for as little as possible.
I still think exchanges are an accident waiting to happen or of course, have happened. Any funds you have involved with an exchange is as bad as a bank.. maybe even worse - completely against bitcoin. Any dealing with an exchange is against bitcoin. Q: How many BTCs are held at exchanges? It could be argued that this is not Bitcoin.
- so you send your fiat or BTC and it gets converted as soon as it arrives for example
- or you pledge an trade, script something to autosend from a balance on your own computer but can still back out if you wish to cancel the process
- or simply automated payout to a preapproved or locked address/account
Problems I can foresee include:
- slow fiat system transfers
- slow bitcoin system transfer (confirmations)
But it could be a good setup for people who want the cash on the exchange for as little as possible.
I still think exchanges are an accident waiting to happen or of course, have happened. Any funds you have involved with an exchange is as bad as a bank.. maybe even worse - completely against bitcoin. Any dealing with an exchange is against bitcoin. Q: How many BTCs are held at exchanges? It could be argued that this is not Bitcoin.
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