not sure why he chose slow-ass counterparty.
Just tried to buy some, and yes it sure is slow.
I thought waiting 1-3 minutes on NXT was painful, but this is terrible.
It is my guess that part of that work the devs will be doing on Mecidi has to be to make transactions really fast, like instant or this isn't going to work. The could design some kind of mini-block chain that has one second block times and then after the transactions get sent to the Bitcoin blockchain and they are confirmed then the Mecidi side chain is pruned free of all the old bloat.
Not at all.
Instant fulfilment, spoofing etc is exactly what Byrne is trying to avoid. He very much dislikes the idea of any high frequency style order settlement, for good reason
This new concept isn't intended to attempt to compete with traditional centralised exchanges in that regard.