Myths and mis-understandings about "decentralized exchanges" - page 2.

gollum

sr. member

Activity: 434

Merit: 250

In Hashrate We Trust!

Quote from: Logik on April 11, 2013, 11:10:44 PM

- Ripple won't magically fix everything; Ripple is a payment network and not a Bitcoin trading client. Ripple is more like a platform. It's a part of the solution but not the solution itself. It's like you are bleeding and want a bandage, and I hand you scissors then ask why you are not fixed yet.

- Bitcoin OTC isn't an answer to anything, you have no fiat balance. The fiat balance is the entire point.

- DOS attack prevention and decentralization are related but aren't the same things. A decentralized exchange with a single front end is still vulnerable to DOS attack.

- If you access something through a domain name then it is vulnerable to DOS attack and therefore is not a solution.

- People vastly underestimate the scale of a viable solution. Somebodies shitty open source project that they started yesterday is not a viable answer to the Mt Gox problem. It would, in my opinion, take a team of 4+ people and around a year to create a proper decentralized trading client on top of Ripple.

We could encourage usage of .bit adddresses for the brokers so there are more ways for clients to reach the brokers

Here is the shitty open source project I try to find collaborators for:
https://github.com/p2p/bitcoin-exchange

Sage

hero member

Activity: 632

Merit: 500

Quote from: wumpus on April 11, 2013, 11:17:25 PM

Quote from: Logik on April 11, 2013, 11:10:44 PM

- If you access something through a domain name then it is vulnerable to DOS attack and therefore is not a solution.

Agreed. A single domain name will never be a decentralized solution. But it could be something with a lot of domain names that work as entry points, such as Diaspora or the Pirate Bay.

Quote from: Logik on April 11, 2013, 11:10:44 PM

People vastly underestimate the scale of a viable solution. Somebodies shitty open source project that they started yesterday is not a viable answer to the Mt Gox problem.

In the long run it is. Bitcoin it is also started as "somebodies shitty open source project". Even Linux did. Someone needs to start with a good concept, work hard on it, and gather a community of active developers (instead of talkers and "idea people"). It's certainly not impossible. But most people just like to argue instead of build something. My point is that in grassroots open source land, everything starts small and as a toy.

We need a decentralized exchange that operates entirely from the computers of the users much like darknet sites run. Maybe even somehow interface it with the current miners to improve speed. Create a fee that goes to miners within the exchange. The miners keep the decentralized exchange running fast.

wumpus

hero member

Activity: 812

Merit: 1022

No Maps for These Territories

Quote from: Logik on April 11, 2013, 11:10:44 PM

- If you access something through a domain name then it is vulnerable to DOS attack and therefore is not a solution.

Agreed. A single domain name will never be a decentralized solution. But it could be something with a lot of domain names that work as entry points, such as Diaspora or the Pirate Bay.

Quote from: Logik on April 11, 2013, 11:10:44 PM

People vastly underestimate the scale of a viable solution. Somebodies shitty open source project that they started yesterday is not a viable answer to the Mt Gox problem.

In the long run it is. Bitcoin it is also started as "somebodies shitty open source project". Even Linux did. Someone needs to start with a good concept, work hard on it, and gather a community of active developers (instead of talkers and "idea people"). It's certainly not impossible. But most people just like to argue instead of build something. My point is that in grassroots open source land, everything starts small and as a toy.

Logik

sr. member

Activity: 315

Merit: 255

- Ripple won't magically fix everything; Ripple is a payment network and not a Bitcoin trading client. Ripple is more like a platform. It's a part of the solution but not the solution itself. It's like you are bleeding and want a bandage, and I hand you scissors then ask why you are not fixed yet.

- Bitcoin OTC isn't an answer to anything, you have no fiat balance. The fiat balance is the entire point.

- DOS attack prevention and decentralization are related but aren't the same things. A decentralized exchange with a single front end is still vulnerable to DOS attack.

- If you access something through a domain name then it is vulnerable to DOS attack and therefore is not a solution.

- People vastly underestimate the scale of a viable solution. Somebodies shitty open source project that they started yesterday is not a viable answer to the Mt Gox problem. It would, in my opinion, take a team of 4+ people and around a year to create a proper decentralized trading client on top of Ripple.

Topic: Myths and mis-understandings about "decentralized exchanges" - page 2. (Read 2860 times)