Exchange for sale - From "Coinnext" to "NeoX"
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At the beginning, what you need is just 2 roles:
1. Dude who sets up the CIC so that it is authorized to hold fiat for the users, who studies up what the UK laws are for such
an enterprise. I thought that Bush had a strong background in this.
2. Dude who sits down with Postgres or Mongo and makes 3 tables: Users, FTC sell orders in USD, and FTC buy orders in USD.
And sets up a server that provides the sell and buy orders through some sort of JSON or YAML based API, and that displays
a simple webpage with those sell and buy orders and a way for the users to make them and take them.
Exchange really is nothing complicated. Just choose a good programming platform to begin with, something like Rails, and it’s
really just a login and one trading page at the beginning. I wouldn’t go for anyone’s snake oil if they don’t sell the domain and
the users with it. That’s grossly suspicious. User registration would be through email at first, no need for registration forms.
But the dude 1. would need to be aware of the laws rearding information collection and such. It is important that both dudes
be morally impeccable, but it is more important for dude 1., who should again be Peter Bushnell himself, or a female collaborator
accountable to him. If it is not Peter Bushnell, I prefer female because they have 6x lower rate of psychopathy. Having a
corporate psychopath taking charge of 1. would be the death of the project.
So this would be the basis of pseudoanonymous, or “black” part of the market. But what we really want to set up to infuse FTC
with value would be the whithe part â€" the nudist beach where wallets would stand naked with their fianancial life in front of
each other, and not just in front of the state organizations.
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Do We plan to build a ourself exchange ?
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If we are to build the white market with stabilized prices, we have to. We need a loyal marketplace that values Featherocoin brand above Bitcoin brand. It seems that the moochers to whom the initial FTC bags were dropped aren’t gonna do it. There will be two markets – black (pseudoanonymous, like btc-e or cryptsy) and white (real name). The black part is easier, so let’s start learning on that one. Btw., you should yourself build one in China.
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I saw the exchange for sale and thought I would mention the idea.
It is a bit suss that they’re selling it now that I think about it.
The price they are asking is in my opinion reasonable but not cheap.
Maybe they have stashed a backdoor in the software or maybe they lost interest in running it.
With all this said. Maybe NeoX is better saved for the previous idea of building in crypto exchange within the wallet. I can’t see why we couldn’t collaborate with a few exchanges to have a secure system integrated into the ftc wallet. Pair this with 2FA, put in a small fee for all transactions that fuel the community pool and that is a better solution than having to deal with the excess work required to run an exchange.
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If we are to build the white market with stabilized prices, we have to. We need a loyal marketplace that values Featherocoin brand above Bitcoin brand. It seems that the moochers to whom the initial FTC bags were dropped aren’t gonna do it. There will be two markets – black (pseudoanonymous, like btc-e or cryptsy) and white (real name). The black part is easier, so let’s start learning on that one. Btw., you should yourself build one in China.
Right now. No one want’s to spend their ftc. We all know that it could very well increase in value by 100x in the coming years. There’s no use pushing for a marketplace based on ftc. The current one is barely even used let alone known about.
What needs to be focused on over the coming 2 years, is building on the bc tech. We need to be focused on laying down the infrastructure for people to use the currency. Integration into social platforms like FB, twitter, google etc. are also important.
Also, when it comes to price. We need to forget about price manipulation. Infact, we need to forget about price all together. Price right now means nothing in 20 years if we aren’t around. Those who stick around and do the hard work will eventual be rewarded but if ftc jumps to $100 right now as I type this, nothing good would ever come of it… Price is a representation of the overall faith people have in the coin. If you consider that ftc has stayed in the top 20 this whole time, you can see that we are undervalued, but that’s good. It gives the honest people more time to acquire greater amounts of ftc. If we were worth the same as even just litecoin, the attention brought to us would make us massive targets for hacks/scams/etc. The team could never cope with that.
I beleive we have a few angel investors outside of the ftc community who know all this. They are simply waiting for us to be ready, organised, and equipped, for the surge of attention we will be get in the end.
Scalability is key here, we have arrived at the cusp of the beginning.
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Infact, we need to forget about price all together. …
It gives the honest people more time to acquire greater amounts of ftc. …
Words of wisdom there. Couldn’t say it better. It is now that we have to contact the honest people. I emailed to Scholarpedia, we should ask the same from Y-Combinator, and we should contact other places where honest creators of value flock. It is them whom we want to be the early adopters. But this thread was about exchange software, so I talk about exchange software and other things needed to build exchanges…
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I’m loving the energy in this thread.
panoramix - I would love to be dude 2 or at least in team “Dude 2”
would a first round of development be worth looking at trading FTC< = >BTC only which means we dont have to deal with the banks etc. this would mean its International
:)
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Let’s not get ahead of ourselves. There is indeed a non-zero amount of energy here. But the question is what we can really do. I can’t do much myself. What I did was that I wrote to Scholarpedia and set up a donation “spaceship” for them. So far, we only have 2 donors – me and Calem. 100k FTCs are mined daily, and I can’t get 10k donation for a crucial supporter such as Scholarpedia. I would love to start doing more, such as contacting incubators and angel investor centers to accept FTC donations, but I must see support from more than 2 or 3 people on the forum.
As for the exchange, team 1 is really more important than team 2. Mr. Wyrm talked about setting up the CIC, but we have not finished talking. Also, Bushstar does not seem to talk to us here at all lately, and I’m too far for the offline meetings. We might have to start with BTC FTC first, but we will absolutely have to add FTC USD. We do have to deal with the banks, and we will have to focus on that if we are to survive. We can’t rely on shady exchanges forever.
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Support doesn’t necessarily = donations.
Don’t wait for people to donate ftc before doing something.
We have achieved everything up untill neo gpu miner without needing bounties to try do things.
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This exchange idea is just something in the works to talk about. It’s not the next big project. I’m merely thinking 10 steps ahead.
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Bushstar is on holiday hence the lack of posts but they are monitoring the forum in case of emergencies.
Your right about the space ship I’ve already got seats booked on the two Feathercoin ships so I will be booking a space on yoira also. :)
I think creating energy and bouncing ideas around is a really important part of the FTC community it gives people the get up and go to do some amazing work.
Your right about having to deal with Fiat but like I said its a big leap from where we are now.
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Bushstar is on holiday hence the lack of posts but they are monitoring the forum in case of emergencies.
Your right about the space ship I’ve already got seats booked on the two Feathercoin ships so I will be booking a space on yoira also. :)
I think creating energy and bouncing ideas around is a really important part of the FTC community it gives people the get up and go to do some amazing work.
Your right about having to deal with Fiat but like I said its a big leap from where we are now.
Let me know or edit the crew list when you deposit your share of the donation. And thanks for filling me in on the reason of Bushstar’s absence. I am happy that it is understood that we cannot forever rely on Cyprus to handle fiat for us. We have to start making that leap.
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Don’t wait for people to donate ftc before doing something.
I will not hold back then. You are publicly encouraging me now so make sure you don’t regret it later. I am going to contact Sam Vaknin with a humble request that he joins our community, and a personal donation of 1000 FTC that I have prepared for him and will transfer to him as soon as he sets up a Feathercoin wallet. I will write an open letter to him, like I have written to Izhikievich. Who needs Max Keiser.
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That’s the great thing about the Feathercoin community. We encourage each other to achieve our take on what Feathercoin needs or needs to be in the future. Feathercoin is so multi faceted that there is room for ideas and each even small bit of work or achievement is another brick in a wall of what will be an entire city.
You better be careful or you might start inspiring people. :) -
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+1
How to start a movement! :)
