Thanks Sanchez!

Open Transaction I was not considering yet as an implementation technology, but definitely worth to evaluate.
Until yet I was mostly focussed on the conceptional part.
Are you working with OT?



Am 14.02.2014 um 00:40 schrieb Washington Sanchez <washington.sanchez@???>:

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