Hey Manfred,

   - First off, I want to give you sufficient kudos for taking the time and
   effort to think about this problem... we need more people like you tackling
   the big problems.
   - It appears that most of this can be executed on top of Open
   Transactions... which I believe should be your approach here, rather than
   trying to reinvent the wheel.
      - Open Transactions is fundamentally peer to peer, as in transactions
      between OT wallets is p2p as well as transactions between a wallet and
      Federated Server (which is necessary in the case of a central issuer)...
      combined with BitMessage (as you already discuss), you have a powerful
      combination of platforms to achieve your aims.
      - The big problem at the moment is discovery of participants willing
      to perform this type of transaction, which is something that the OT dev
      team are working on (called the 'Bazaar')
   - Here are a few resources RE the last point that should help:
      - OT + BitMessage for p2p exchanges:
         - https://bitcointalk.org/index.php?topic=212490.0;all
      - Lex Cryptographia (don't this miss one, it's a work of art and will
      give you ideas for reputation systems and managing counter-party
risk in a
      near-trustless manner)
         - http://bitcoinism.blogspot.com.au/2013/12/lex-cryptographia.html

- drwasho



On Fri, Feb 14, 2014 at 4:51 AM, Manfred Karrer <mk@???> wrote:

> I have written a concept for a P2P Fiat-Bitcoin Exchange.
> I am looking for developers so if you are interested, let me know!
> Otherwise any comment or review is highly appreciated!
>
>
> *BANK RUN! - P2P Fiat-Bitcoin Exchange*
>
> *Basics:*
> - Pure P2P, cannot shut down by a central authority, no 3rd party involved.
> - Collateral as warranty for fair behavior
> - Fiat money will be transferred from one users bank account to the others
> bank account without any intermediary party. No identification that the
> money transaction is connected to a BCT trade.
> - No fees beside the standard BTC transaction fees.
> - Open source
>
> *Here is the paper:*
>
> https://docs.google.com/document/d/1d3EiWZdaM89-P6MVhS53unXv2-pDpSFsN3W4kCGXKgY
>
> *High-level overview of the protocol:*
> http://nucleo.io/bankrun/flow/bankrun.png
>
>
> *Bitcointalk: *
> https://bitcointalk.org/index.php?topic=462236.0
>
> *Reddit: *
>
> http://www.reddit.com/r/Bitcoin/comments/1xsona/bank_run_p2p_fiatbitcoin_exchange/
>
> br,
> Manfred
>
>
>
> _______________________________________________
> unSYSTEM mailing list: http://unsystem.net
> https://mailinglists.dyne.org/cgi-bin/mailman/listinfo/unsystem
>
>


--
-------------------------------------------
*Dr Washington Y. Sanchez*
Post-doctoral research officer
Therapeutics Research Centre
University of Queensland
Princess Alexandra Hospital
Woollongabba, 4102
Queensland, Australia