Real world commodity exchange is possible. But escrow involves the buyer transferring funds to escrow, and the escrow account confirming to the seller that funds have hit the escrow account. From this point, the buyer and seller can communicate with each other and discuss where to ship the item to. When the item is received by the buyer, the escrow will release funds to the seller.

On a side note... I believe peer to peer exchange is a wonderful notion. But the downside is trying to find liquidity (whether its currency or commodity) in a decentralized structure. Centralization is a great mechanism for bringing buyers and sellers to a central location and this has what made centralized markets effective and efficient. Think about going back to the bartering days.


Who wants to start a Craigslist like website for the crypto-currency market? Buyers and Sellers can come together looking for (___________) and they can contact each other through NXT messaging and set up the transaction p2p. It is a great way to find goods and services in a decentralized structure.

What do you guys think?

And for those who think openly showing these ratings is an issue, there can be a protocol implemented which keeps these
ratings hidden within the code, but users can determine what level rating they are willing to conduct business with. If it doesn't conform to the users standards, then the protocol can block the transaction and offer a warning whether they will trust the second party or not. This can give its user some discretion.

Glad to see that the asset exchange feature is coming along. I have a proposal for the asset exchange feature. It can truly make decentralized peer to peer transactions/exchanges legitimate. I have been developing this idea ever since the asset exchange feature was first mentioned in NXT. Here it is.

Obviously there are dangers inherent within p2p transactions. The main issue here is the lack of trust, and the trust that is lost by not utilizing a third party. When transactions are non reversible, especially with no intervening regulatory figure, the willingness to exchange goods, services, or currencies becomes an issue. My idea to bypass these issues involves an escrow service, a rating system (similar to those on Ebay and Amazon) and the aliasing feature.

Lets say..

"Joe" wants to exchange something of value with "Sue" but Joe and Sue don't know each other. How can Joe trust Sue in receiving the item in question after Joe pays Sue? Well of course, they can utilize a third party escrow service, which will insure Joe will receive the item in question by transferring money to the escrow service.

But,

you may be asking, doesn't the escrow service defeat the purpose of a true p2p exchange? Yes it does. But it doesn't have to be permanent. This is where NXT can implement a rating based system attached to accounts or the alias' of an account. Think of it as someones credit score attached to a social security number. But within the NXT ecosystem, the credit score is a star based rating, and the social security # is the users NXT account.

Now revisiting Joe and Sue's transaction, they "must" now rate each other based on how well they serviced each other after the transaction has taken place. When Joe and Sue continue to build their "trust" rating with everyday users of NXT, they have the choice of opting out of the escrow service and they can start trading and exchanging with other users that have trustworthy reputable ratings. After people have built trustworthy ratings within the NXT ecosystem, users will now have a much better understanding of whom they are doing business with, and will establish the most efficient p2p exchange mechanism which no other
crypto-currency utilizes.  

I hope you developers see the potential of this system, especially in a p2p environment that exchanges things of value.

NXT:   5464489754473015994

hello everybody

I have been involved with NXT since early December. I am a firm believer in its technologies and have become
a full convert to NXT. Being an advocate for NXT, I decided to make several infographics to help promote NXT.
I have originally posted them on nextcoin.org, under the username silversurfer. I am submitting my work here
to partake in the bounty and hopefully in generates some positive feedback. In addition I hope the stakeholders
can find some value in my work and consider me for the bounty. Either way, I am a firm believer in NXT and hope
everyone enjoys the infographics. Here they are:

https://www.dropbox.com/s/qgagt6cxcpx4l7u/nxt%20vs%20qrk.png
https://www.dropbox.com/s/d0bvchrxqahwwu1/NXTvsBTC.png
https://www.dropbox.com/s/1ucwbhutar5t8f2/nxtvslite.png
https://www.dropbox.com/s/d4rkob6fgmh6307/NXTVSPPC.png

I would like to give a special thanks to Uniqueorn over at nextcoin.org
He has been doing some wonderful things in trying to collaborate, coordinate, and organize the promotional efforts
for NXT. I firmly believe he deserves one of the biggest bounties and has recognized talented individuals within the
community to bring NXT to the masses.

Thanks

NXT:  5464489754473015994

hello everybody

I have been involved with NXT since early December. I am a firm believer in its technologies and have become
a full convert to NXT. Being an advocate for NXT, I decided to make several infographics to help promote NXT.
I have originally posted them on nextcoin.org, under the username silversurfer. I am submitting my work here
to partake in the bounty and hopefully it can generate some positive feedback. In addition I hope the stakeholders
can find some value in my work and consider me for the bounty. Either way, I am a firm believer in NXT and hope
everyone enjoys the infographics. Here they are:

https://www.dropbox.com/s/qgagt6cxcpx4l7u/nxt%20vs%20qrk.png
https://www.dropbox.com/s/d0bvchrxqahwwu1/NXTvsBTC.png
https://www.dropbox.com/s/1ucwbhutar5t8f2/nxtvslite.png
https://www.dropbox.com/s/d4rkob6fgmh6307/NXTVSPPC.png

I would like to give a special thanks to Uniqueorn over at nextcoin.org
He has been doing some wonderful things in trying to collaborate, coordinate, and organize the promotional efforts
for NXT. I firmly believe he deserves one of the biggest bounties and has recognized talented individuals within the
community to bring NXT to the masses.

Thanks

NXT:  5464489754473015994

@smoothmouse

I would have to agree with you, it most definitely is a double edge sword. The demand can definitely elevate BTC prices "to da moon" but the lack of
infrastructure can also make it come crashing down.

Whats up bitcointalk

I have read tons of threads on bitcointalk but this is actually my first post.
I have done tons research and have mined cryptocurrencies. I want the decentralized
revolution to truly be the norm (within societies infrastructure).
I am so proud of how bitcoin has evolved and has become a true testament to the
theory of value.

Looking forward to becoming heavily involved within the community

v4v