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nanotube / supybot-bitcoin-marketmonitor

Some bitcoin and supybot-related code.
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Fill orders on website with a public log of transaction taking place. #17

Open perplexes opened 13 years ago

perplexes commented 13 years ago

This will help in large transactions where #bitcoin-court is involved. That way we can all see what btc address the transaction is sent to, and any promises that were made, which assumes that the website is safe.

nanotube commented 13 years ago

That's an interesting idea... For this kind of thing, I should probably require a double-gpg-signed contract or some such, since final order price/details are always subject to negotiation. For the moment, people can just do that in sideband, that way any either party to the contract has a signed contract with the information, which they can bring to the court.

Leaving issue open for now, since it's a good idea to have this functionality on the site.

asoltys commented 12 years ago

Kind of related to this, it'd be nice if you could distinguish orders that were for real world money (maybe just PPUSD and LRUSD to start with) and have the system automatically pair up buys and sells like an exchange does so that if the current highest bid price and lowest ask price are in agreement, the two parties involved would be notified by email or IRC and linked to a page with the pending trade details spelled out. They'd be able to have a discussion about payment arrangements there and then once both are in agreement the trade details and discussion would be converted into a double-signed GPG contract and it'd be up to them to carry out the transaction. It'd be good if users could specify a minimum rating threshold so that the system would only match up their orders with people who have that rating or higher.

I'm pretty new to the btc world so sorry if this has been thought of already or done elsewhere or if there's reasons I haven't thought of that would prevent it from working. Lemme know what you think! And great work on OTC so far, it's really awesome.

nanotube commented 12 years ago

Ideas are great, but there are still issues with stale orders, and problems with price records being easily gameable by some person just creating two accounts and 'trading' with himself at any price he chooses.

In the meantime, i'm speccing out a distributed web of trust, at http://privwiki.dreamhosters.com/wiki/Distributed_Web_of_Trust_Proposal_2

Thank you for the positive feedback :)