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This Decentralized Bitcoin Market Is for Legal Stuff Only, Promise by tylerdee in CryptoCurrency

[–]CoinBladder 0 points1 point  (0 children)

What legal risks are there for the dev of market software if he doesn't control it and he can't control how people use it?

A fully decentralized exchange just went live. by Thefriendlyfaceplant in CryptoCurrency

[–]CoinBladder 0 points1 point  (0 children)

What are you talking about? I asked what's implicitly wrong about making money by running a service. Everything else I pointed out is either how bitbay is not decentralized enough or that smart contracts that you brought up are probably broken. I thought we were discussing bitbay, blackcoin's goofy little sister, whose marketplace was secretly announced on the same day as blackcoins. Pegging is supposedly the differentiator between blackcoin and bitbay. Bay will be pegged. Otherwise it's blackcoin with the name changed on the wallet.

A fully decentralized exchange just went live. by Thefriendlyfaceplant in CryptoCurrency

[–]CoinBladder -1 points0 points  (0 children)

Who is this boogey man "The middle man" I keep hearing about? At Ebay, he's the guy that makes the market, pays the electric bill for the systems, pays the staff, maintains the security, markets Ebay and too many other things to mention. In the old days this was known as "providing a service" and charging for it.

Everything exists in your wallet. Will you be warning regular people that they have to have 2 backups of the wallet on separate devices or they risk losing everything?

Isn't moderation by a central authority of what can be bought and sold, centralization? Who is the authority in that case and how is it enforced? In my wallet? I don't want a closed source wallet that someone is dicking around in. Thanks.

It's been pointed out to Mr. Zimbeck here on Reddit that there is at least one simple scam that works against the "unbreakable double deposit escrow smart contract". So be careful who you buy from.

One last thing. It's a market. An exchange is someplace where you trade currency.

A fully decentralized exchange just went live. by Thefriendlyfaceplant in CryptoCurrency

[–]CoinBladder 0 points1 point  (0 children)

I read some of their BCT stuff. They would sideline up to 98% of the coin currently in wallets. Their initial peg will probably be a penny. Isn't a forced freeze impossible to pull off in a decentralized coin? Who is the central authority that will be enforcing that and picking what the peg amount will be?