Yea man.
I'm quite sure there's work going on to devise a decentralised exchange. It really is the missing link.
Even excluding fiat, neither Poloniex, CoinEx or CR traded to fiat at all. The coins they trade though do have value and need to be traded with other currencies, hence the popularity and therefore weakness, of exchanges.
I have no idea how the hell it's going to work.. I have little understanding of the fundamentals of how crypto's work in general, but there are (hopefully) a sufficient number of folks who DO know that stuff and are working on it.
trying to crack that code, the problem is with trade execution and order matching
my current conceptual solution is to do trade execution in fragments, like a bell curve
your own node is responsible for signing valid trades relevant to its listed orders and rules.
we can use a blockchain for order listing and order commands are transactions, miners do the order matching
your node must be online to catch the block with a tx containing one of your orders and fulfill it in time before the miners reassign the order based on lowest timeout block count set by orders.
blocktime of 1 minute should do
we would need something centralized for id and trust systems
you could optionally have your orders matched only with users that have a valid issued ID and trust level or do it on the your node side as a rule for trade execution
How do wallets of differing currencies check everything though, especially with varying block times and such?
Blah blah, price dropping blah blah
Chill out, the exchange was down for a while, BTC price is down, LTC is up, all the small coins are low on volume atm.
This is the time to be mining/buying up and building a strong, tight community.
We need to be working on a short term goal, this is meant to be a movement backing this coin and all I've seen is talk of price pumping.
Ideas people.... realistic ideas (we're still teeny tiny so any project should reflect that for now).
