These are also topics on decentralizing trades from Mt.Gox:
https://bitcointalksearch.org/topic/p2p-exchange-for-bitcoin-172705
https://bitcointalksearch.org/topic/its-time-to-fund-a-distributed-open-exchange-protocol-and-here-is-how-we-can-174950
https://bitcointalksearch.org/topic/community-action-needed-support-more-exchanges-174959
It's a genuine problem.
Topic: Put the Gox Down and Step Away. Ideas: How to make a Pro BTC Exchange - page 2. (Read 1953 times)
April 12, 2013, 08:21:21 PM
April 12, 2013, 08:09:44 PM
We should just put our resources to developing an opensource exchange framework, then release it. Exchanges will popup, with different rules, fees, etc. The best will be used, the rest will crumble.
April 12, 2013, 08:06:40 PM
Let's discuss and brain storm on how to replace Gox.
My idea is that a crowd sourced exchange is created. The exchange is non-profit esque in that fees would be for pure overhead of reasonable and not necessarily customary expenses and compensation. This exchange would not remove profit motive at all, it would shift profit motive from the owners of the exchange to the BTC community.
This exchange exists only to serve BTC and provide liquidity. It will be open source and there will be no dark trades. Bots will be allowed, but not allowed to flood orders and set artificial prices by buying some BTC then filling in the bids with a ton of small orders to reach the new ask, and vice-versa.
There is more than enough bonafide real world talent on this forum to pull this off. It may take a year to get it going and up to speed, but I think the long term payoff for everyone in the BTC community makes this worth while.
Imagine an exchange that does not exist to make the exchange's owners rich, and an exchange that is answerable directly to the many shareholders? You can't can you? Try again and you can imagine a post Gox BTC world.
There would be a minimum of 1-2 BTC per individual to fund the development and receive a vote. Every shareholder receives 1 vote regardless how much is paid for a voting position.
I know it's all whack. I mean that if someone decides to put in 200BTC worth that they still get 1 vote. I say this is Democratic in the sense that the person who can put in 200 BTC is more in a position to benefit from this exchange and in turn must be beholden to the alleged intended ideals of BTC as I understand them from reading on this forum. (Believe me this is difficult for me to write and mean since IRL I'm all about moral hazard and very pro you get equal consideration for compensation. But this is allegedly not what BTC is founded on. Problem with that is that era is gone for now and wide acceptance of BTC by the world requires a modicum of stability. Beggars can be choosers depending on who they vote for.)
The exchange would have a board of directors who are voted in by the shareholders. The board elects all other positions. Board members have rights to remove any position according to Robert's Rules to order. Terms are two years, and have a two term limit. Shareholders have recall rights as long as a supermajority over at least 60%, level TBD, gives a member a vote of no confidence.
I know this is not a complete plan, merely a brainstorm of mine to try and get a ball rolling and hopefully get more minds involved with removing the Gox from the ass that they are turning BTC into. Gox and all other private, dark exchanges must go if BTC is to truly realize what it's alleged to be and that is a decentralized commodity.
Please if you have another idea on how to accomplish a paradigm shift from Gox and the privately held dark exchanges, such as Gox then post them, or expound on what I've written or tear it to shreds. If you decide to tear it to shreds then back up your claims with a better idea/solution.
edited, added sentences 3,4 in paragraph 8.
My idea is that a crowd sourced exchange is created. The exchange is non-profit esque in that fees would be for pure overhead of reasonable and not necessarily customary expenses and compensation. This exchange would not remove profit motive at all, it would shift profit motive from the owners of the exchange to the BTC community.
This exchange exists only to serve BTC and provide liquidity. It will be open source and there will be no dark trades. Bots will be allowed, but not allowed to flood orders and set artificial prices by buying some BTC then filling in the bids with a ton of small orders to reach the new ask, and vice-versa.
There is more than enough bonafide real world talent on this forum to pull this off. It may take a year to get it going and up to speed, but I think the long term payoff for everyone in the BTC community makes this worth while.
Imagine an exchange that does not exist to make the exchange's owners rich, and an exchange that is answerable directly to the many shareholders? You can't can you? Try again and you can imagine a post Gox BTC world.
There would be a minimum of 1-2 BTC per individual to fund the development and receive a vote. Every shareholder receives 1 vote regardless how much is paid for a voting position.
I know it's all whack. I mean that if someone decides to put in 200BTC worth that they still get 1 vote. I say this is Democratic in the sense that the person who can put in 200 BTC is more in a position to benefit from this exchange and in turn must be beholden to the alleged intended ideals of BTC as I understand them from reading on this forum. (Believe me this is difficult for me to write and mean since IRL I'm all about moral hazard and very pro you get equal consideration for compensation. But this is allegedly not what BTC is founded on. Problem with that is that era is gone for now and wide acceptance of BTC by the world requires a modicum of stability. Beggars can be choosers depending on who they vote for.)
The exchange would have a board of directors who are voted in by the shareholders. The board elects all other positions. Board members have rights to remove any position according to Robert's Rules to order. Terms are two years, and have a two term limit. Shareholders have recall rights as long as a supermajority over at least 60%, level TBD, gives a member a vote of no confidence.
I know this is not a complete plan, merely a brainstorm of mine to try and get a ball rolling and hopefully get more minds involved with removing the Gox from the ass that they are turning BTC into. Gox and all other private, dark exchanges must go if BTC is to truly realize what it's alleged to be and that is a decentralized commodity.
Please if you have another idea on how to accomplish a paradigm shift from Gox and the privately held dark exchanges, such as Gox then post them, or expound on what I've written or tear it to shreds. If you decide to tear it to shreds then back up your claims with a better idea/solution.
edited, added sentences 3,4 in paragraph 8.
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