Paul and I have agreed to create a simple opensource implementation of this. nov/Tom would you guys like to help out?
>> Paul and I have agreed to create a simple opensource implementation of this. nov/Tom would you guys like to help out?
> Sure :)
> BTW, in this flow, how can we determine the exchange rate?
The purpose of an exchange is to determine the exchange rate.
I am willing to sell 100 UBER$ for 20 SUPER$
You are willing to buy 100 UBER$ for 20 SUPER$
The exchange matches it and reports that 1 SUPER$ is worth 5 UBER$ (or inversely, 1 UBER$ is worth 0.20 SUPER$).
We need to openly record these transactions so that people can see these rates, and their history.
That's where it gets a little more complicated...
So, fall back to "have" and "want"
You're not concerned with how the marketplaces work at this point,
just with the protocol between a holder who has something and would
like to exchange it for something else registers that information with
"all or none" is an important flag
will you accept more, if it is available? Would you rather pay less,
if you can?
Are you willing to provide a donut for everyone with a dollar until
you run out of donuts and if so how many donuts do you have?
Do you still have those donuts you registered here this morning and
are they still a dollar each?
How long is this price good for?
The registration I made this morning, I want to cancel it, because I
am out of donuts.