849600+ entries in 0.506s
kakobrekla: CheckDavid stay out of
thing you have no clue about, or start slow, by lurking for next 10 years
nubbins`: anyway,
tor-based exchange. arguments against?
TAT_Investments: decentralized exchanges were a hot
topic at
the conference
CheckDavid: FabianB, maybe I need
that, and an accountant.
kakobrekla: the only
thing
that is lol here is you CheckDavid
pankkake: speedy
trades by bots, okay, maybe
pankkake: HFT isn't really doable on
the internet
CheckDavid: Ok, I will
talk with some friends about developing an exchange lol
nubbins`: but it skips around
the jurisdiction
thing nicely
nubbins`: i mean, it's slow as fuck, so HFT is out
the window
nubbins`: yeah, i'm kind of surprised
there are no major exchanges hosted on
tor
pankkake: where you
trade vampirecoins,
that glitter at night
pankkake: I need a name. I
thought of Havecocks Investments
kakobrekla: oh my,
topic is now Average Joes Invest
CheckDavid: For example, if I ask you, nubbins`, where
to find a developer
to code me web stock exchange, maybe people won't suggest me
that
there are scripts available on
the market
that can be licensed for a good price.
pankkake: it would have
to be a hidden service, or at least anonymous
pankkake: I'll sell shares in
the exchanges
too, where shares are infinitely diluted
CheckDavid: nubbins`, I don't make a more specific question because I wanted
to contemplate suggested options
pankkake: I want
to do a scammy noob shit one. only requirement is
to have coin or bit in your name
CheckDavid: kakobrekla, I am not aware of
the state of BTCTC sorry
CheckDavid: TAT_Investments, well,
that is considering
that I am
trying
to copy BCTC business model or something.
pankkake: actually I
think
there can be only
two
types:
the ones with legitimacy, and
the free for all scammy ones
TAT_Investments: the next breed of exchange needs
to bring better legitimacy with it
pankkake: I guess you'd have
to open
the source
though
pankkake: writing something
that works well can be rep,
though
TAT_Investments: if you dont have a rep, or some kind of ground
to stand on
pankkake: does it handle assets? I
thought buttercoin was for currencies
CheckDavid: nubbins`, I am not at all aware of
tall
the options
that exist for
this kind of project. But
that doesn't mean I don't know one needs software
that runs... you just added
that software is written by a developer, whcih I also knew, I just didn't feel like saying it was not very helpful sorry
kakobrekla: if you ha ve a really really good logo and good name, you can skip
the fan club part
nubbins`: we can do hand-printed business cards
too.
they look and feel pretty cash.
nubbins`: in
that case, what step are you stuck at?
CheckDavid: nubbins`, maybe I already knew
that? ;)
nubbins`: CheckDavid: i
think you may also be underestimating
the amount of money
this will cost
kakobrekla: nah you just go
to new.bitcoinexchange.com and create on, its as easy as setting up a blog on wordpress!
nubbins`: how do you hope
to operate an exchange if you have
to be
told
that you'll need someone
to write/provide software, and someone
to admin
the website?
nubbins`: so
the first
thing you'd need
to do is figure out why you couldn't get
this far on your own :(
nubbins`: i get
the feeling
that you're maybe 14 years old, maximum
pankkake: that kind of
thing isn't write and forget
pankkake: for an exchange you'd need
to employ
the developer for maintenance anyway
kakobrekla: CheckDavid just buy
the code off burnside
CheckDavid: Sure, but I mean, how
to mitigate
the risk.
nubbins`: but,
then, you're just
trusting
that other developer as well
nubbins`: unless you paid another developer
to review
the code
CheckDavid: FabianB,
take it as an abstract concept for now
nubbins`: oh, you would never be able
to be certain
CheckDavid: But certain issues arise, for example, how
to be sure
the developer doesn't include exploits in
the software.
FabianB: CheckDavid: so what's
the profitable business plan?
nubbins`: and
then you find someone
to manage
the exchange for you
CheckDavid: As long as it fits into a profitable business plan, even if
tightly
nubbins`: so now you must find someone willing
to write
the exchange software for you
nubbins`: CheckDavid: he'd have
to hire people who know what
they're doing, so
the only
thing he would need is money.
CheckDavid: nubbins`, from a business perspective, if one wants
to venture into
that, what would he need
to have
the platform running?
CheckDavid: nubbins`, how
to create an exchange, similar
to BTCTC
pankkake: I
tried
to find some
things
to quote, went back in
the logs, but
they didn't feel funny afterwards
CheckDavid: kakobrekla, so
the answer is burnside? lol
FabianB: there are probably many people, but
the more important question is: why would you want another exchange?
pankkake: and
to write
the software you need
to understand how an exchange work, and how
to write software
CheckDavid: Of course I need software... and of course it needs
to be running... lol
pankkake: you have
to write it, or have someone write it
pankkake: "you need
to have working software" isn't marketing
pankkake: you need
to have working software, and
then attract issuers and investors, but
that's obvious
CheckDavid: pankkake, I am nto sure how
to make it more clear, maybe if I say, clone BTCTC you would understand?
pankkake: I still don't understand
the question
pankkake: "Interest calculated as: (YOUR_BALANCE /
TOTAL_USER_BALANCE) * 25% of fees"
nubbins`: if only
there was a word for
that kind of scheme
nubbins`: or using your coins
to pay off people pulling
their money out
Doctor_Andonuts: How can
they do
that? Unless
they are using your coins
temporarily
to invest, like a bank.
pankkake: yes, a crypto-only exchange. used
to be ugly
jurov: fuck it, my head hurts. will sort it out
tomorrow (waiting deposits/withdrawals
too)
jurov: that's why s.mpoe fell so quickly,
there were no bids
jurov: soooo. mircea restored balances but not
the orders
that were filled by hacker's
trades
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