Why doesnt someone make a cash only exchange? - page 4.

empoweoqwj

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Quote from: jojo69 on December 19, 2013, 03:54:54 AM

Just interject a little tidbit here that might be relevant.

NoCal weed growers I know of say that getting the product to NY has not been much of a problem lately, but they have been taking crippling losses getting the cash back Westbound.

I like your idea, but I would be very wary about the actual shipments of fiat.

Lost me .... how is this relevant to a bitcoin shop?

jojo69

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diamond-handed zealot

Just interject a little tidbit here that might be relevant.

NoCal weed growers I know of say that getting the product to NY has not been much of a problem lately, but they have been taking crippling losses getting the cash back Westbound.

I like your idea, but I would be very wary about the actual shipments of fiat.

empoweoqwj

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Quote from: Anon136 on December 19, 2013, 02:55:24 AM

Its a simple idea, leverage the advantages of the devision of labor in order to overcome government meddling.

The exchange would open up shop probably in either los-angales or new york and would only accept deposits in the form of cash at the front counter. The exchange would be safe from a myriad of legal trappings which would allow them to focus 100% on the service they are intended to provide and the market could innovate highly decentralized mechanisms of getting cash from one side of the country and into the front door of the building. Decentralized community of peers working within the framework of a reputations systems could provide the money transmission instead of some big payment processing company. As an example, suppose we have two brothers, one lives next to the exchange and another 1000 miles away. The one brother could take payments and the other would make deposits and when ever they visited each other periodically they would clear out the debt between each other, always operating within the black or gray market.

There may be a really good reason why this doesn't exist and i just havn't thought about it yet.

Because one shop would have to spend bucketloads of money complying with anti-money laundering regulations. Bitcoin ATMs solve the problem in a much more economical way.

s1lverbox

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Quote from: beetcoin on December 19, 2013, 03:11:24 AM

because you'd have to comply with a shit ton of rules and regulations.

....created by fat belly wankers to protect them from ideas like that. BTC made huge impact on their decisions. people know they don't need USD to pay for something in whole world. that's what's scared them the most.

wumpus

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No Maps for These Territories

Isn't this the idea behind the bitcoin ATMs and/or localbitcoins?

beetcoin

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because you'd have to comply with a shit ton of rules and regulations.

Anon136

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Its a simple idea, leverage the advantages of the devision of labor in order to overcome government meddling.

The exchange would open up shop probably in either los-angales or new york and would only accept deposits in the form of cash at the front counter. The exchange would be safe from a myriad of legal trappings which would allow them to focus 100% on the service they are intended to provide and the market could innovate highly decentralized mechanisms of getting cash from one side of the country and into the front door of the building. Decentralized community of peers working within the framework of a reputations systems could provide the money transmission instead of some big payment processing company. As an example, suppose we have two brothers, one lives next to the exchange and another 1000 miles away. The one brother could take payments and the other would make deposits and when ever they visited each other periodically they would clear out the debt between each other, always operating within the black or gray market.

There may be a really good reason why this doesn't exist and i just havn't thought about it yet.

Topic: Why doesnt someone make a cash only exchange? - page 4. (Read 4804 times)