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A decentralized Bitcoin exchange

github.com

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Re: A decentralized Bitcoin exchange

#21

Post by nosuchthing »

seibelj wrote: post #20
divislight wrote: post #16

Earlier quoted context omitted.

ERC-20 == scamcoin. Very different from this.

An ERC20 token is a token that conforms to the ERC20 protocol, that's all that ERC20 means.

Are there currently any ERC tokens with applicable utility other than wild speculation and claims about unproven future features which the ERC20 tokens are created in completely arbitrary (artificial scarcity, sidestepping SEC IPO investments) limited amounts for?

Re: A decentralized Bitcoin exchange

#22

Post by echan00 »

cocktailpeanuts wrote: post #3

Just finished watching their video and got nothing other than "Read our white paper if you're interested", plus bunch of buzzwords. Why make the video at all? If I were them I would scrap all the bullshit and just spend the two minutes in the video explaining the basics of WHY and HOW it works. People visiting that site already know what a "decentralized bitcoin exchange" is.

While I know nothing about this project or the creators, I find your comment very ignorant. If you don't like it, go do something else of your own.

At least the creators spent time and effort doing something they find valuable. That's 100x better than your comment.

Re: A decentralized Bitcoin exchange

#23

Post by SeoxyS »

nosuchthing wrote: post #21
seibelj wrote: post #20

Earlier quoted context omitted.

An ERC20 token is a token that conforms to the ERC20 protocol, that's all that ERC20 means.

Are there currently any ERC tokens with applicable utility other than wild speculation and claims about unproven future features which the ERC20 tokens are created in completely arbitrary (artificial scarcity, sidestepping SEC IPO investments) limited amounts for?

Numeraire for example (NMR) is a ERC-20 token which has a real-world application today.

Re: A decentralized Bitcoin exchange

#24

Post by softawre »

echan00 wrote: post #22
cocktailpeanuts wrote: post #3

Just finished watching their video and got nothing other than "Read our white paper if you're interested", plus bunch of buzzwords. Why make the video at all? If I were them I would scrap all the bullshit and just spend the two minutes in the video explaining the basics of WHY and HOW it works. People visiting that site already know what a "decentralized bitcoin exchange" is.

While I know nothing about this project or the creators, I find your comment very ignorant. If you don't like it, go do something else of your own. At least the creators spent time and effort doing something they find valuable. That's 100x better than your comment.

OP is providing feedback on the project just like you are providing feedback on OP's comment.

Re: A decentralized Bitcoin exchange

#25

Post by dharma1 »

Coould you have a decentralised p2p fiat ETH exchange with a smart contract and PayPal, where the sold ETH is being held on the smart contract until PayPal transfer from buyer to seller is verified by the smart contract?

Like localbitcoin but no need to meet up

Re: A decentralized Bitcoin exchange

#26

Post by olegkikin »

This will not work, because regular bank wire transfers and cash deposits have been reversed in the past, the sender simply claimed hacked account or fraud.

Examples:

https://medium.com/@TheAlexGalaxy/why-i-m-suing-td-canada-tr...

https://www.reddit.com/r/PersonalFinanceCanada/comments/6guh...

https://www.reddit.com/r/Bitcoin/comments/1zruvf/warning_cas...

https://www.reddit.com/r/Bitcoin/comments/1sglge/the_bank_ar...

Re: A decentralized Bitcoin exchange

#27

Post by kinnth »

I get it. I like it, but I wouldn't use it just yet. I think the fees charged by most exchanges are low enough for me not to worry. Also there is a large amount of legal bureaucracy now happening over real money exchanges, how might that affect it?

Re: A decentralized Bitcoin exchange

#29

Post by Paul_S »

equalunique wrote: post #12

Interesting. Previously, the only incarnation of this idea was, to my knowledge, NVO: https://nvo.io/

And it went awfully quiet after the ico.

I hate myself for using words like ico in every day speech. This the 80s all over again except with shittier music.

Re: A decentralized Bitcoin exchange

#30

Post by patio11 »

dharma1 wrote: post #25

Coould you have a decentralised p2p fiat ETH exchange with a smart contract and PayPal, where the sold ETH is being held on the smart contract until PayPal transfer from buyer to seller is verified by the smart contract? Like localbitcoin but no need to meet up

Paypal will never cooperate this, because the service is selling money laundering. Without Paypal's cooperation, you can't guarantee that a transaction presently honored by Paypal will not be reversed in the future, for reasons including "the buyer, who legitimately controlled the Paypal account at time of transaction, decided to defraud the seller" and "the buyer, who has credentials for X,000 Paypal accounts obtained by hacking, does not have the authority to commit either the Paypal account or Paypal to a transaction."
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