Post
Topic
Board Project Development
Re: P2P Exchange for bitcoin
by
Sultan
on 26/06/2013, 16:45:21 UTC
I've been working on a new peer-to-peer exchange that employs WebRTC for the past few weeks.  

It's pretty unique because it fully complies with FinCEN's regulations around exchange because all communication in the platform is conducted directly peer-to-peer and subsequent exchanges are conducted physically by the respective exchangers (I'd love to employ an online transfer in further iterations, but don't have a good solution yet).  

I just went live with an early alpha tonight if others would like to try it out and give feedback.  

My primary goal with the platform is give as much anonymity as possible, meaning that I self-host all files (no external js).  I'm stuck using an external tile-server (which means mapquest logs some data, including IP + timestamp), but I hope to get some capacity soon to bring that in-house as well so no external logging of users occurs (beyond ISPs).

The site is elqnt.org (pronounced eloquent).

Best,
Stephen

This is a brilliant step, and congratulations for the person who thought this up!

However, as constructive criticsm, I must say that the poster below (Astrohacker) who makes a comment regarding trust has a valid point. This idea of lack of trust is what coagulates the liquidity of trading in any peer-to-peer exchange.

I do understand that alot of us are not fans of ripple because they bastardise what the protocol actually stands for, however the concept of having a network (and thus a route) of trust is something that can help with this regard. The problem is that in order for it to be effective, the trust network needs to reach a critical mass for it to be effective. It's a catch 22 but it is the only way I can see exchanges happening properly. This trust could naturaly develop when bitcoiners trade small amounts amongst each other first to build up trust, and then you can have this expressed as a credit line, so as people make small trades with everybody, the more collective trust there is to finance this ripple-like system.

This is what I believe would propel the idea of P2P exchange.