As dpr found out, anonymity only works for so long until you become a big enough problem for the feds.

My solution would be decentralized trading via colored coins or something similar.

If MPEx ran anonymously, it wouldn't be MPEx anymore, now would it?

How does nothingness build trust?

How does anonymity get a reputation and maintain it?

How does no one vet listings?

How is anonympex more trustworthy than the current one?

Please do explain your idea point-by-point. Because I believe I am understanding you fully and it is you who is not understanding the concepts behind verifiable trust.

You cannot mathematically prove trust. Simple as that.

I still don't entirely understand just what it is Mint is advocating, but I don't think on-chain exchanges are too far-fetched.

There's really no reason we can't see the entire records of an exchange, so why is it crazy to think the algorithm driving the trades and accounts not be "provable" like a dice game. Imagine if gox had something like that set up, whatever happened would have come to light much sooner. Security should not be an issue, or we'd have bigger problems to worry about. 

The model doesn't sound too crazy to me, "mining" could be rewarded with shared exchange fees, or it could potentially ride along bitcoin, as a merge mined chain. 

The only thing I don't understand is getting dollars to an exchange like that, outside crypto/crypto trading I don't really see how it could ever work. If ATMs, local trades, and things like pre-loaded cards took off though...

How is this even a debate. Just because a bunch of americans go into the thread and take it for granted the SEC has authority on a foreign exchange? It never made sense and yet the SEC gets away with foreign brokers not serving US citizens, just because the internet made it possible.

Reread my post. Colored coins is a decentralized exchange of ownership and they are even working on decentralized exchanges implemented within the wallet software.

However exchanging fiat to cryptocurrency is not possible through an algorithm. It requires trust.

There is no algorithm that would allow us to not need to trust exchange/security operators

Sigh.... I wasn't saying that bitcoin turns the legal structure upon its head - I was saying that AnonyMint's assertion that "the authority must have the power to indemnify against all laws and jurisdictions to which MPOE is subject to" turns the legal structure upon its head.

AnonyMint seems to be asserting that any random 'authority' has proper jurisdiction and venue over anything they claim to, unless they themselves assert that they do not.

The very concept is absurd. It is the responsibility of whatever agency to demonstrate they they have proper chain of authority before any person need accede to any of their dictates.

Sorry, franky1 - I certainly did not to imply that I was disagreeing with you. I merely wanted to amplify your point.

And no, seriouscoin. It is not my responsibility to temper my discussions for your pleasure. While abrasive, and seemingly overly impressed with himself, AnonyMint often has an interesting perspective on things. I certainly don't always agree with him/her, but I occasionally glean a new insight from reading his/her (frequently tiresome) posts.

Quoted before you delete.

Thanks, jimmothy


Now you're thrashing. What you actually wrote was:


There is no way the SEC can indemnify against all laws and jurisdictions to which MPOE is subject to, as MPOE is an entity within nexuses associated with laws and jurisdictions over which the SEC has no power whatsoever. This can be broadened by replacing SEC with 'any agency', as no such agency can indemnify against all other laws and jurisdictions. It is a tautological impossibility.


You have no effing idea to whom you are speaking.

You keep yapping about the logical design for a fully-anonymous value-exchange protocol you're going to bestow upon the world, as soon as you get to putting pen to paper. Yet you spend your life here on this forum, going all armchair internet warrior upon those of us you deem your intellectual inferiors. Why would you waste your time thusly, when you could be Saving The World?

I'm starting to surmise that you don't have a clue how to design such a protocol, and that all your bluster is just a smokescreen meant to hide your limitations from yourself.