Earlier quoted context omitted.
Btc-e was was not based in the US and see what happened?
I don't actually. Tell me what you think happened with BTC-E. I'm aware of the recent headlines but I feel like it's way too early to know the whole story.
Evercoin: A cryptocurrency exchange platform
71–77 of 77 posts
Re: Evercoin: A cryptocurrency exchange platform
#72Earlier quoted context omitted.
Maybe someone should build a Kayak for Bitcoin exchanges, that picks the cheapest exchange for each trade...
Writing the formula for you 1) pick the cheapest exchange 2) sell at expensive exchange price 3) add commission 4) add network fees
The formula is more complicated than this. Services such as shapeshift.io guarantee the price for 10 minutes, as well as sending purchased tokens almost instantaneously. To accomplish this means keeping inventory and becoming vulnerable to volatility risk and liquidity risk.
Picking a reasonable bid-ask spread is hard, and probably involves more input factors than the 4 you listed above.
Re: Evercoin: A cryptocurrency exchange platform
#73Earlier quoted context omitted.
>> except subject to the arbitrary and Orwellian US financial regulations! abiding by those seems to be the only recipe for long term. Otherwise you're talking about living in interesting times. Never know when or how they come for you
Widespread global liquidity on an in invisible commodity that has high demand all across the world is a complete game changer. In the very long run, I think state funded consumer protection organizations will become obsolete. I only hope we can educate consumers as quickly as we've created the networks. Otherwise, a lot of people will get hurt. Either way we live in interesting times.
When you say consumer protection, you mean the SEC?
How does crypto make the SEC go away? If you want to live in the US, sure you could have a computer in your closet on a VPN running an exchange, but all of that needs to be on the books when you need to write a check to your kids private school.
I think it's more likely there will continue to be a black market and a white market. The black market will be bigger, and easier to use undetected. But you still will need to launder that money if you want to pay for your daughters ski trip. And not everybody has an appetite for felonies. The market of people who would prefer not to commit a felony is quite large actually.
What am I missing? How do you picture a world without an SEC?
The only way I can imagine is is if other muncipalities without as much regulation can show cryptocontracts can provide insurance that is so good and cheap the regulatory bodies are proved unnecessary, then that puts competitive pressure on more regulated economies. But... Fraud is a Hegelian arms race for the hearts and minds of naive investors. I just don't see how crypto contracts solve that, not in the next 100 years anyway. Maybe when teenagers are doing ICOs to pay for their lattes.
Re: Evercoin: A cryptocurrency exchange platform
#74An exchange for unlicensed securities, hope they enjoy what's coming for them
what do you mean by unlicensed security?
Re: Evercoin: A cryptocurrency exchange platform
#75Earlier quoted context omitted.
Why are you all so keen on a monopoly? Competition = better rates for both services.
Nobody is arguing for a monopoly, but you need some differentiating factor until your service grows to the point of being a commodity.
"Were parked on different marketing channels" is the only differentiation you need.
If your competitors join you, there are infinite incremental improvements you can make tailoring your offering to submarkets within those channels. It's a neverending arms race for specificity and anyone can play.
Google for birds
Google for tropical birds
Google for sick tropical birds
Google for birds in social media
Google for flying mammals
Google for virtual flying animals
...ad nauseum...
You just have to keep noticing things about your audience your competitors.havent noticed yet.
Re: Evercoin: A cryptocurrency exchange platform
#76A noble attempt, but without supporting Monero you're not supporting fungibility and privacy. I hope this is an oversight that you'll correct.
Now Monero is supported!
Re: Evercoin: A cryptocurrency exchange platform
#77Any plans to support Monero?
We just added Monero today!