Post
Topic
Board Bitcoin Discussion
Re: Am I asking too much?
by
deisik
on 12/06/2017, 15:36:09 UTC
I wish someone would establish an exchange on international waters or on a private island and that exchange wouldn't require any verification or personal details. No government would be able to influence it and force it to share the identities or IPs of its users. If someone finds a way to make such an independent exchange he's going to make millions on it.

This makes no sense, absolutely

If someone establishes an exchange in the international waters or on a private island, it can be easily hijacked by terrorists or their likes (or some rogue government agencies). Apart from that, top exchanges need the fastest Internet available today to remain competitive. I don't really know how you are going to achieve that on an isolated island. Further, such exchanges as Bitfinex are already mostly virtual, i.e. they exist entirely in cyberspace. Indeed, they have some physical presence since they still need processing capacity, read they need servers and other equipment as well as staff, but this is by far a better approach
But I think they still can be forced to give up personal data of their customers.
If they register in a certain country they have to obey its laws and can be pressured by the government to shut down. I hope there are still countries that value people's privacy and wouldn't do it, maybe those countries will become a safe haven for Bitcoin exchanges

Registration doesn't mean a thing today

I've recently read about some online bank which is registered in 3 (!) entirely different countries under different names and titles. Further, many companies (and exchanges fit into this category quite well) are registered in offshore territories like Belize, Andorra, Marshall Islands and similar jurisdictions (most certainly for tax purposes). Obviously, they are in no way tied to these areas, and if their registration is annulled (for whatever reason), they may easily register elsewhere