merchant client updateable transactions (micropayment channels).
say we want to trade 1 DOGE for 1 BTC
tx fee = 0.001 BTC (or whatever)
we incrementally trade 0.001 BTC at a time until the trade is complete.
important is that increment <= tx fee.
you cannot scam this way.
I guess with an exchange it would be super slow making increments of
$0.01 at a time so maybe wouldn't work. But for digital assets or any
service this is ideal.
On 13/05/14 23:49, Domatron Graves wrote:
> I feel like the exchanges are and have always been the weekest link in
> the bitcoin ecosystem. Does anyone know of anyone developing ideas for a
> decentralized exchange system. Perhaps someway of automating deposits to
> bank accounts. Maybe some kind of front end client that can integrate
> with a banking website. I can't think of anyway this can be done without
> all security being compromised by trust in the bank as a third party though.
>
> On Sunday, May 11, 2014, Justus Ranvier <justusranvier@???
> <mailto:justusranvier@gmail.com>> wrote:
>
> On 05/10/2014 08:33 PM, Kristov Atlas wrote:
> >
> >> The problem is no accountability, voters are locked in once the
> decision is made. This made sense in the days of horseback travel,
> but in a post-bitcoin world this idea is preposterous.
> Accountability is necessary all the time, and applying the metaphors
> and tools of Bitcoin we can achieve it.
> >>
> > No software can solve the issue of initiating violence. This is
> the actual problem with politics, not accountability. Direct
> democracy might be an incremental improvement, but I'd rather flip
> the board rather than rearranging our chess pieces. It's time to evolve.
>
> I agree. Using software to incrementally improve voting is putting
> lipstick on a pig.
>
> Enlightenment is the recognition that voting as a mechanism is incapable
> of conveying legitimacy (if ethics really were derived from a majority
> consensus, then we wouldn't recognize gang rape as evil).
>
> The lawmaking process is not broken because of a failure in the election
> systems - it's broken because it shouldn't exist.
>
>
>
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>
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Re: [unSYSTEM] Rethinking cryptocur…
