Post
Topic
Board Project Development
Re: P2P Exchange for bitcoin
by
elqntdotorg
on 26/06/2013, 19:27:34 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

Amazing. I just read about WebRTC today thanks to the new version of Firefox which has this enabled by default. This is definitely the next step in exchange technology.

I don't know how do you handle the trust, I'm not going to send 300 € or Bitcoins to anybody I can't trust. It's just like localbitcoin or this forum but without trust.

Currently it's a physical exchange only, much like Craigslist.  Elqnt provides a means to find exchangers in your area, which you chat with directly in the platform and agree on a price and meeting place to conduct the exchange.  It's up to the end users to handle the trust of the exchange, but my current conceptual work-flow to handle trust with these physical exchanges is the following scenario --

Two users agree on a price + location.  They meet at the location, cash is presented and verified.  The bitcoin holder makes transfer, which is then verified after a few minutes (grab a coffee + chat while you wait).  After verification, cash (or whatever) is given to the seller of Bitcoin.  If both parties are happy with the exchange and would like to follow-up with further exchanges, additional contact details might be exchanged for direct communication later. 

I'd love to implement a reputation mechanism, but I'm shying away from UIDs and accounts all together.  The vision is an exchange that is a completely open ecosystem which will solve the 'last-mile' problem for those wanting to exchange easily and anonymously with Bitcoin.