My bugger, you would be uploading your bank account to a peer to peer network.
Though we do this daily with Bitcoins, bitcoins were designed for that... this... this is scary crap and I believe it's not doable at this time.
Topic: Would it be possible to Build a decentralized trading program? (Read 1070 times)
I have created a system for a P2P orderbook here:
https://bitcointalksearch.org/topic/ann-ussc-crypto-p2p-server-decentralized-p2p-exchange-application-209269
https://bitcointalksearch.org/topic/ann-ussc-crypto-p2p-server-decentralized-p2p-exchange-application-209269
I figured out how to make a P2P Orderbook for a decentralized exchange:
I am updating the post daily but will add more in a few minutes:
https://bitcointalksearch.org/topic/ann-ussc-crypto-p2p-server-decentralized-p2p-exchange-application-209269
https://bitcointalksearch.org/topic/ann-ussc-crypto-p2p-server-decentralized-p2p-exchange-application-209269
I am updating the post daily but will add more in a few minutes:
https://bitcointalksearch.org/topic/ann-ussc-crypto-p2p-server-decentralized-p2p-exchange-application-209269
Decentralized Orderbook - BTA System (Bus - Train - Plane)
BTA - Bus. Train. Plane. BTA is a concept I came up with the solve the problem of a decentralized orderbook for P2P systems.
BTA is a system to move orders from Tier I exchange nodes to Tier II exchange nodes to Tier III exchange nodes according to a predetermined cycle.
BTA is a system akin to a mass-transit public transportation system.
example:
In a mass transit system you could have a bus that would route and cycle through a city with 25 bus stops, stopping at every stop to pick up people. The bus would then drop all of the people off at the last stop which for the purposes of this demonstration is the city's train station. The bus would then repeat the cycle continuously bringing more and more people to the train station.
Eventually the train would arrive to that city and pick up the people who got off the bus and are waiting at the train station. The train would then continue on and cycle through all of the cities of that particular province/state picking up people (who were dropped off by the bus) at every city train station. At the end of the train route would be an airport with a planes ready to pick people up and take them to a specific destination. The train would cycle continuously through all of the cities picking up people and dropping them off at the airport.
The people who were first on the bus and then on the train and now at the airport would then board the plane (jumbo jet if you will) and travel on the plane from the province/state they were in to a final location all the while making stops in every major province/state of that country to pick up additional people. After the plane arrived at the final location it would take off again and cycle through all the provinces/states of the country continuously picking up and dropping off people.
Now, imagine if you will a dating and match making service on one of the sides of that county that has a big convention to help people find a spouse. That service decides to utilizes the same aforementioned mass transportation system to bring people together from all over the country.
People would leave their homes and go to the bus stop. Some people would find compatible matches for themselves at the bus stop or while riding on the bus. Those people would get off the bus pay the fee and then go home with no need to go to to the convention. Those people have what they want; a spouse.
The rest of the people would continue on to the train station and get on the train. But again some people would find matches on the train and at the station; so, they too would pay the fee and go home. They have what they want; a spouse.
What remains of the people would continue on to the airport then get on the plane to go to the convention hoping to find a good match for a spouse.
A P2P BTA (Bus-Train-Airplane) exchange would operate the same way only picking up orders instead of people.
(More in a few minutes)
More here in a few minutes:BTA - Bus. Train. Plane. BTA is a concept I came up with the solve the problem of a decentralized orderbook for P2P systems.
BTA is a system to move orders from Tier I exchange nodes to Tier II exchange nodes to Tier III exchange nodes according to a predetermined cycle.
BTA is a system akin to a mass-transit public transportation system.
example:
In a mass transit system you could have a bus that would route and cycle through a city with 25 bus stops, stopping at every stop to pick up people. The bus would then drop all of the people off at the last stop which for the purposes of this demonstration is the city's train station. The bus would then repeat the cycle continuously bringing more and more people to the train station.
Eventually the train would arrive to that city and pick up the people who got off the bus and are waiting at the train station. The train would then continue on and cycle through all of the cities of that particular province/state picking up people (who were dropped off by the bus) at every city train station. At the end of the train route would be an airport with a planes ready to pick people up and take them to a specific destination. The train would cycle continuously through all of the cities picking up people and dropping them off at the airport.
The people who were first on the bus and then on the train and now at the airport would then board the plane (jumbo jet if you will) and travel on the plane from the province/state they were in to a final location all the while making stops in every major province/state of that country to pick up additional people. After the plane arrived at the final location it would take off again and cycle through all the provinces/states of the country continuously picking up and dropping off people.
Now, imagine if you will a dating and match making service on one of the sides of that county that has a big convention to help people find a spouse. That service decides to utilizes the same aforementioned mass transportation system to bring people together from all over the country.
People would leave their homes and go to the bus stop. Some people would find compatible matches for themselves at the bus stop or while riding on the bus. Those people would get off the bus pay the fee and then go home with no need to go to to the convention. Those people have what they want; a spouse.
The rest of the people would continue on to the train station and get on the train. But again some people would find matches on the train and at the station; so, they too would pay the fee and go home. They have what they want; a spouse.
What remains of the people would continue on to the airport then get on the plane to go to the convention hoping to find a good match for a spouse.
A P2P BTA (Bus-Train-Airplane) exchange would operate the same way only picking up orders instead of people.
(More in a few minutes)
https://bitcointalksearch.org/topic/ann-ussc-crypto-p2p-server-decentralized-p2p-exchange-application-209269
Here is how it works:
https://bitcointalksearch.org/topic/ann-ussc-crypto-p2p-server-decentralized-p2p-exchange-application-209269
P2P BTA Application
How does it work?
In a P2P BTA system a "Bus" exchange node would cycle through and collect orders from P2P "home-server" nodes mentioned in the above posts. "Home-server" nodes house user accounts and wallets in a P2P network.
1. The Bus exchange server node would collect orders from home-server nodes 1 through 25 (for example).
2. Matching orders (if any) are fulfilled in a mini exchange. Receipts are generated. All unfulfilled orders and receipts are then stored for pickup by an "Train" exchange node.
3. On a predetermined cycle the higher Train exchange node would pick up all of the unfulfilled orders and receipts from all four (for example) of the Bus exchange nodes in the P2P network. All matching orders are fulfilled in a medium sized exchange and more receipts are generated. Again, All unfulfilled orders and collected receipts are then stored for pickup by an "Airplane" exchange node.
4. Finally, on a predetermined cycle the higher Airplane exchange node would pick up all of the unfulfilled orders and receipts from all four (for example) of the Train exchange nodes in the P2P network. The Airplane exchange is the highest exchange on our example P2P network. All orders would attempt to be fulfilled here. Collected receipts are used to generate reports and to display fulfilled orders.
In our example P2P network, if no orders were fulfilled by the Bus or Train exchange nodes then the Airplane exchange node would have picked up 400 orders.
(MORE TO COME LATER TODAY)
How does it work?
In a P2P BTA system a "Bus" exchange node would cycle through and collect orders from P2P "home-server" nodes mentioned in the above posts. "Home-server" nodes house user accounts and wallets in a P2P network.
1. The Bus exchange server node would collect orders from home-server nodes 1 through 25 (for example).
2. Matching orders (if any) are fulfilled in a mini exchange. Receipts are generated. All unfulfilled orders and receipts are then stored for pickup by an "Train" exchange node.
3. On a predetermined cycle the higher Train exchange node would pick up all of the unfulfilled orders and receipts from all four (for example) of the Bus exchange nodes in the P2P network. All matching orders are fulfilled in a medium sized exchange and more receipts are generated. Again, All unfulfilled orders and collected receipts are then stored for pickup by an "Airplane" exchange node.
4. Finally, on a predetermined cycle the higher Airplane exchange node would pick up all of the unfulfilled orders and receipts from all four (for example) of the Train exchange nodes in the P2P network. The Airplane exchange is the highest exchange on our example P2P network. All orders would attempt to be fulfilled here. Collected receipts are used to generate reports and to display fulfilled orders.
In our example P2P network, if no orders were fulfilled by the Bus or Train exchange nodes then the Airplane exchange node would have picked up 400 orders.
(MORE TO COME LATER TODAY)
https://bitcointalksearch.org/topic/ann-ussc-crypto-p2p-server-decentralized-p2p-exchange-application-209269
defo interested to see how this thread pans out, was a question I was going to ask before reading this.
It is here:
https://bitcointalksearch.org/topic/p2p-exchange-for-bitcoin-172705
We called it the "official" decentralized thread, but you can call it whatever you want.
Plus mine:
https://bitcointalksearch.org/topic/a-new-idea-for-bitcoin-markets-145389
https://bitcointalksearch.org/topic/p2p-exchange-for-bitcoin-172705
We called it the "official" decentralized thread, but you can call it whatever you want.
Plus mine:
https://bitcointalksearch.org/topic/a-new-idea-for-bitcoin-markets-145389
no.
Another way of doing this would be to create a non-FreeNet site, just using a normal html website.
but we create a dynamic content filter using Meta Tags, to tag the information for sale. for example so and so has this item, they upload it to the premade page, a page of their own choosing, the search engine specialized for this simply grabs those Meta Tags provided in the pre-made page and identifies the pages items their pictures and the prices provided then dynamically aggregates all similarly tagged items or simply browse.
This would be done using YaCy the p2p search engine, the search engine finds the tags listed as the p2p bazaar and adds the items to it's lists. You basically have to download YaCy, get the pre-approved page with all the html code already done in it and run the YaCy webcrawler on your own page, boom a quick easy way to exchange and when your criteria are met, you shut down the webpage, in out good for local commerce.
the code for international commerce would require a data cache to be planted on all users, a blockchain type system that holds all the ratings for all the users, Anyone can create a new name but only the best traders will win the p2p bazaar lottery: they'll get all the sales.
but we create a dynamic content filter using Meta Tags, to tag the information for sale. for example so and so has this item, they upload it to the premade page, a page of their own choosing, the search engine specialized for this simply grabs those Meta Tags provided in the pre-made page and identifies the pages items their pictures and the prices provided then dynamically aggregates all similarly tagged items or simply browse.
This would be done using YaCy the p2p search engine, the search engine finds the tags listed as the p2p bazaar and adds the items to it's lists. You basically have to download YaCy, get the pre-approved page with all the html code already done in it and run the YaCy webcrawler on your own page, boom a quick easy way to exchange and when your criteria are met, you shut down the webpage, in out good for local commerce.
the code for international commerce would require a data cache to be planted on all users, a blockchain type system that holds all the ratings for all the users, Anyone can create a new name but only the best traders will win the p2p bazaar lottery: they'll get all the sales.
No need for algorithms the people are their own judges, I'm counting on FreeNet to do the crypto for me.
Using Freenet the construction would be very straight forward, Using dynamic content to update all the data would be the beginning.
The front end of the system is like eBay
but the back end is completely dynamic, updated and swirling constantly with each submitted change, once the change is done you will need FreeNet buddies to hack the sent information from your node to a known perimeter of control. That would be like setting up a trap in a local area, but very expensive to setup if people are connecting to public peers.
Now thinking that most people will be honest, it's possible, it will be the wild west in the beginning but there will be paragons of commerce that will arise, they will be who start gaining their deserved share of the pie.
Now creating a system without the need for trust, your going to have to call Satoshi for that, cause I have no clue.
Well thinking about constructing a Trust free system using a goods exchange service would be very intense... that would be a multi-tier system of epic proportions.
It would require Encrypted Geoid locations, UTM coordinates and what not, combined with encrypted shipping services to be dispatched to the location the moment that the item is sold, This would have to be a distributed encrypted shipping service run by Gofors, each one with encrypted ids and encrypted gps systems that guide them to their destination without them knowing the location, the points of interest of the shippers would be to tag the shipments with data matrix barcodes marking it's position in the shipping process, received, in transit, delivered.
Data miners would be employed to calculate the routes that the couriers would require and the most effective route of distribution and pick-up to carry out. This task would be data intensive so would require a multi-pickup aproach by local Gofors so as to limit disclosing the buyer and seller.
Keeping the Gofors safe would require even more encryption on an open network, their locations are known and their vitals are monitored by the Data miners, the information is encrypted as it goes through the network but only the data miner assigned to the Gofor knows their location, if their is a problem they take longer than they should that information is shared with other Data Miners and a concensus reaction is reached, should they ask for an update, how are their vitals? are enforcers required to come in?
Shipping would be run by a distributed system of couriers, both legit and under the table, the miners take care of the route as long as they know the size and dimensions of their load, They take the data from local areas and monitor who is on active duty and dispatch them to do the pick-up for small shipments in a small area multiple couriers may be required and international orders would require risk assesment by the Couriers, do they want to ship the final leg on that international plane with that unknown Gofor acting as passenger?
I'm thinking big, some people may want to carry things for another person if they know the risks, jewellery? a cool little rc toy that is not available in that country? but what if it's drugs? are they willing to take that risk with a package that is undisclosed? that option would have to be given to the Gofors.
Using Freenet the construction would be very straight forward, Using dynamic content to update all the data would be the beginning.
The front end of the system is like eBay
but the back end is completely dynamic, updated and swirling constantly with each submitted change, once the change is done you will need FreeNet buddies to hack the sent information from your node to a known perimeter of control. That would be like setting up a trap in a local area, but very expensive to setup if people are connecting to public peers.
Now thinking that most people will be honest, it's possible, it will be the wild west in the beginning but there will be paragons of commerce that will arise, they will be who start gaining their deserved share of the pie.
Now creating a system without the need for trust, your going to have to call Satoshi for that, cause I have no clue.
Well thinking about constructing a Trust free system using a goods exchange service would be very intense... that would be a multi-tier system of epic proportions.
It would require Encrypted Geoid locations, UTM coordinates and what not, combined with encrypted shipping services to be dispatched to the location the moment that the item is sold, This would have to be a distributed encrypted shipping service run by Gofors, each one with encrypted ids and encrypted gps systems that guide them to their destination without them knowing the location, the points of interest of the shippers would be to tag the shipments with data matrix barcodes marking it's position in the shipping process, received, in transit, delivered.
Data miners would be employed to calculate the routes that the couriers would require and the most effective route of distribution and pick-up to carry out. This task would be data intensive so would require a multi-pickup aproach by local Gofors so as to limit disclosing the buyer and seller.
Keeping the Gofors safe would require even more encryption on an open network, their locations are known and their vitals are monitored by the Data miners, the information is encrypted as it goes through the network but only the data miner assigned to the Gofor knows their location, if their is a problem they take longer than they should that information is shared with other Data Miners and a concensus reaction is reached, should they ask for an update, how are their vitals? are enforcers required to come in?
Shipping would be run by a distributed system of couriers, both legit and under the table, the miners take care of the route as long as they know the size and dimensions of their load, They take the data from local areas and monitor who is on active duty and dispatch them to do the pick-up for small shipments in a small area multiple couriers may be required and international orders would require risk assesment by the Couriers, do they want to ship the final leg on that international plane with that unknown Gofor acting as passenger?
I'm thinking big, some people may want to carry things for another person if they know the risks, jewellery? a cool little rc toy that is not available in that country? but what if it's drugs? are they willing to take that risk with a package that is undisclosed? that option would have to be given to the Gofors.
Long on talk and short on details.
Developing decentralized algorithms is difficult.
Saying "we should do it" is a lot different then presenting a step by step process that can be implemented in code.
Developing decentralized algorithms is difficult.
Saying "we should do it" is a lot different then presenting a step by step process that can be implemented in code.
It definitely is possible using all currencies, fiat or crypto.
Everheard of Freenet? It is a distributed encrypted community, at the moment it is quite bad in there, nasty shit, but the concept is excellent.
all that has to be done is someone design a eBay like place, a classifieds directory of goods, it is encrypted and secure and like Bitcoin it is distributed and safe.
A effective design for a CryptoCurrency exchange would be to list them side by side according to price for everyone to see, buyer beware would be the motto.
Another aspect to mitigate this risk would be to allow people to rate them as they do on eBay, if someone didn't send you what you wanted then rate them and state the reasons, judge them on speed, honesty, quality, details etc. this way a ledger of key information is distributed and tamper proof because of the way FreeNet is constructed.
people with really bad reputations are not ever put at the top of the list, the only way to change this is if a member wishes to redeem themselves they must pay a one time fee back to all the people registered, This is the administration fee and will be deduced according to how far they have gone down and the price that others have paid for trusting them... the more you swindle people the more it takes for you to redeem yourself.
Didn't send those 100 dollars for that .5 bitcoins? rate them they will have a -1 to their reputation and will take .5 bitcoins to regain it...
Donations could also be accepted, incentives for the community and for the developers to keep working, the donations would be to the Devs, Community at large for using the system and groups that may be doing charity work by selling their items on the FreeNet site.
Now an effective design for goods, would be different, we need speed in our transactions so all similar items are catalogued and shown side by side with a shipping cost to your destination and a price tag.
The addresses are never known, the system simply keeps that data at your location so no one knows where you are... hence the need for the rating system.
the system I believe should be Open just like Bitcoin, people can see the code, and even with that openness it is secure and tamper proof because it is so well built from possible years of abuse from WhiteHat Hackers and their BlackHat counterparts.
I believe an absolutely open system would work, the only side that would not be open would be the customers, users of the system. their names are up to them to reveal, their addresses as well.
Freenet is an ugly place right now, but this may change it's landscape.
The possibility of creating private auctions and sales should also be possible using the same rating system, and you are only allowed to create a private auction/sale if you have proven yourself to be worthy by your peers.
Everheard of Freenet? It is a distributed encrypted community, at the moment it is quite bad in there, nasty shit, but the concept is excellent.
all that has to be done is someone design a eBay like place, a classifieds directory of goods, it is encrypted and secure and like Bitcoin it is distributed and safe.
A effective design for a CryptoCurrency exchange would be to list them side by side according to price for everyone to see, buyer beware would be the motto.
Another aspect to mitigate this risk would be to allow people to rate them as they do on eBay, if someone didn't send you what you wanted then rate them and state the reasons, judge them on speed, honesty, quality, details etc. this way a ledger of key information is distributed and tamper proof because of the way FreeNet is constructed.
people with really bad reputations are not ever put at the top of the list, the only way to change this is if a member wishes to redeem themselves they must pay a one time fee back to all the people registered, This is the administration fee and will be deduced according to how far they have gone down and the price that others have paid for trusting them... the more you swindle people the more it takes for you to redeem yourself.
Didn't send those 100 dollars for that .5 bitcoins? rate them they will have a -1 to their reputation and will take .5 bitcoins to regain it...
Donations could also be accepted, incentives for the community and for the developers to keep working, the donations would be to the Devs, Community at large for using the system and groups that may be doing charity work by selling their items on the FreeNet site.
Now an effective design for goods, would be different, we need speed in our transactions so all similar items are catalogued and shown side by side with a shipping cost to your destination and a price tag.
The addresses are never known, the system simply keeps that data at your location so no one knows where you are... hence the need for the rating system.
the system I believe should be Open just like Bitcoin, people can see the code, and even with that openness it is secure and tamper proof because it is so well built from possible years of abuse from WhiteHat Hackers and their BlackHat counterparts.
I believe an absolutely open system would work, the only side that would not be open would be the customers, users of the system. their names are up to them to reveal, their addresses as well.
Freenet is an ugly place right now, but this may change it's landscape.
The possibility of creating private auctions and sales should also be possible using the same rating system, and you are only allowed to create a private auction/sale if you have proven yourself to be worthy by your peers.
Mt. Gox btc-e are all great for the day to day shit. sadly they are centralized. I realize there's no easy way to build a decentralized Fiat to Crypto exchange, but could something not feasible be built to allow Bitcoin/alt coin trading, using a network of decentralized servers?
We would need some sort of body controlling what coins can be added to the system. and could allow the network to control the value of the trade's itself.
I'm unsure how we could do this, But I do love trading in alt coins, hate the fact I need to rely on btc-e to do it?
We would need some sort of body controlling what coins can be added to the system. and could allow the network to control the value of the trade's itself.
I'm unsure how we could do this, But I do love trading in alt coins, hate the fact I need to rely on btc-e to do it?
Actually, Ripple is trying to build a decentralized fiat to cryptocurrency exchange, but you trade IOUs to the assets, not the assets directly. If you have usable gateways, though, it's not a major difference.
I am designing one here. This is just a design. But it demonstrates how to leverage the distributive power of cryptocurrency.
https://bitcointalksearch.org/topic/ann-ussc-crypto-p2p-server-decentralized-p2p-exchange-application-209269
https://bitcointalksearch.org/topic/ann-ussc-crypto-p2p-server-decentralized-p2p-exchange-application-209269
Mt. Gox btc-e are all great for the day to day shit. sadly they are centralized. I realize there's no easy way to build a decentralized Fiat to Crypto exchange, but could something not feasible be built to allow Bitcoin/alt coin trading, using a network of decentralized servers?
We would need some sort of body controlling what coins can be added to the system. and could allow the network to control the value of the trade's itself.
I'm unsure how we could do this, But I do love trading in alt coins, hate the fact I need to rely on btc-e to do it?
We would need some sort of body controlling what coins can be added to the system. and could allow the network to control the value of the trade's itself.
I'm unsure how we could do this, But I do love trading in alt coins, hate the fact I need to rely on btc-e to do it?
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