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    Author Topic: Decentralizing Exchanges - some ideas to consider...  (Read 1157 times)
    Trader Steve (OP)
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    August 01, 2011, 05:47:08 PM
    Last edit: August 01, 2011, 06:09:26 PM by Trader Steve
     #1

    With the recent financial losses suffered by some at the hands of exchanges like Bitomat.pl now is a good time to revisit the importance of decentralizing exchanges. I'm posting some random thoughts and suggestions below and I invite anyone to add their suggestions to this thread as well.

    The way I see it, here are a few ideas:

    1. Develop your local network of trusted trading partners.
    2. Introduce friends to bitcoin by sending them to sites like http://www.BitcoinTraining.com (I put together this site to make it easier for me to use personally - anyone else is free to use it and offer improvements)
    3. As you introduce those who are already in your trusted network a "ready exchange" will develop - giving you local liquidity for going in to - and out of - bitcoin
    4. If you have a business, advertise your willingness to accept bitcoin. Offer local exchanges.
    5. Create a local bitcoin "MeetUp" group [http://www.meetup.com] or join an existing one - make friends, exchange contact info, and begin providing liquidity to each other. Meet for coffee, shoot the bull, and make exchanges.
    6. Take advantage of sites like http://www.BTCNearMe.com, http://www.TradeBitcoins.com, and http://www.BitcoinLocator.com to meet other bitcoin users in your area.
    7. Create a local YahooGroup or email list to stay in touch and broadcast your desire to buy or sell bitcoin

    By developing these trusted, local networks you reduce your dependence on the major exchanges and you avoid the hassles and risk of leaving money on an exchange.

    Any other ideas?
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