Quote from: gjhiggins on August 29, 2020, 10:40:36 AM

Quote from: SinbadGuthrie on August 29, 2020, 03:11:16 AM

Its a good idea if somebody does it right. It has to be done by a person who has technical skills and likes math coins etc

The core problem is that setting up and running a crypto exchange is a security nightmare, is extremely time-consuming and is largely thankless (both socially and financially). The upshot of this is that the whole idea is quite unattractive to someone with technical skills and who likes math coins.

AFAICT, Freebitcoins and Freiexchange are the closest realisations of your concept, the former has been introduced upthread in Bayareacoins' own words, the latter was originally created to provide a market for Freicoin, subsequently expanded modestly (in cryptoexchange terms) and continues to concentrate on providing an exchange service to many, if not most, continuing vintage altcoins.

Cheers

Graham

Agree it needs somebody capable in security and other fields.

The financial part is a function of its success. How that applies specifically more or less to people who have technical skills and like math coins I miss.

Freebitcoins is an okay enough site. It lists a few coins, two of them mathish coins. Not a lot of people are going to step up and support the exchange because there really isnt anything that stands out. In 2013 it would have been one of ten exchanges that list a few coins. In 2020 its one of ten this week.

Freiexchange Ive watched for a while, probably traded there in the past. Its a good exchange, useful, well made like freebitcoins, etc. But its purpose is to unload or create liquidity for bags. Somebody bought a lot of shitcoins back in the day, he or she isnt the only one. How to prop them up? Build an exchange. Anybody who isnt holding those specific bags doesnt really have any motive to support that exchange. Theres no philosophical basis or motive behind the exchanges selection of coins really except oops I sold my car and bought shitcoins, now they need an exchange.

I remember following your comments carefully on slimcoin and other coins, and you obviously have more technical skills than the vast majority. The question that arises from your comment about whole idea is quite unattractive would be what is the point of a math coin etc?

A person can do something at a micro level, eat fresh food for example. Or they can do something at a more macro level, invest in a co op or encourage organic farms or whatever for example.

It would be hard to argue that encouraging adoption of more ethically created useful coins is unattractive, and hard to argue that dedicated math coin exchanges would not encourage that, so you seem to be conflating common motives e.g. wanting social status, money, with math coin specific motives. Its like saying Italians dont like to get flat tires on their cars. Its sort of true.

If there are people who make a stab at starting a shitcoin exchange on the off chance they will make money, there will be people willing to start a decent coin exchange on the off chance they will make money and further that scientific ecosystem.

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Quote from: SnowTrader on Today at 06:30:27 AM

Quote from: gjhiggins on August 29, 2020, 10:40:36 AM

Quote from: SinbadGuthrie on August 29, 2020, 03:11:16 AM

Its a good idea if somebody does it right. It has to be done by a person who has technical skills and likes math coins etc

The core problem is that setting up and running a crypto exchange is a security nightmare, is extremely time-consuming and is largely thankless (both socially and financially). The upshot of this is that the whole idea is quite unattractive to someone with technical skills and who likes math coins.

AFAICT, Freebitcoins and Freiexchange are the closest realisations of your concept, the former has been introduced upthread in Bayareacoins' own words, the latter was originally created to provide a market for Freicoin, subsequently expanded modestly (in cryptoexchange terms) and continues to concentrate on providing an exchange service to many, if not most, continuing vintage altcoins.

How relevant is the launch of new exchanges today? It seems to me that the existing problems with attracting new users and with new coins and liquidity ... only bots trade. Of course, something needs to be changed. Everyone is waiting for real innovation and new technologies.

Thats an excellent point of course. A person can speculate about how the coin economy might develop.

There is little doubt that the bigger trend will be towards ai coins initially and eventually towards ai networks developed through taskwork coins. The initial bitcoin idea of its money that does nothing wont last. The ethereum idea of developers are your leaders wont last.

One problem with the current trajectory towards ai coins is the lack of any guidance in the broader crypto economy.

If you go to a grocery store and say to the grocer give me a piece of fruit, and the grocer gives you a piece of chewed up rancid fruit, and that keeps happening at every grocery store, then eventually that will become acceptable and the norm. The grocer is fine with that, no standards but reliable cash flow. Anybody who profits from the supply chain is okay with it. But its a shitty ecosystem.

A bigger issue will be the kind of ai networks that develop.

The current path is encouraging, or tolerant of, an Orwellian ambition based system where lets all pretend we are ethical and see what happens.

Anything a person perceives is projection to some extent, and arts are based entirely on perception.

Sciences should not be so subjective or you end up with ambition + science + Im an expert trust me + money = Monsanto or soylent green.

Steering ai coins initially into the development of sciences would make the lowest bar in ai less dangerous. Once ai science coins developed which produced a valuable commodity i.e., math or science discovery, other more ambition focused coins would not have a purpose. They would not be profitable.

There would still be the human factor involved. Anything gets weaponized when necessary, but encouraging math, science etc coins as an important part of the digital economy would bring more people with deeper perspective into directing the economy.

So your observation how important are new exchanges maybe should differentiate between the current stale model of make money quick exchanges patronized by I want money now customers vs some new model.

The initial basis is math, science etc coins. Beyond that, the customers targeted could be college students or amateurs interested in these coins.

If a coin exchange were specifically designed to target student types, it would have credibility that greed based exchanges dont have. There are a lot of tweaks that could be done to the convention exchange model that could make it profitable.