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BrokenPipe | 11 years ago

To answer to your question, I think your points have already been raised and while I may even share them BIP70 is by default using SSL and X.509 and it seems natural to use it for extensions too.

Other than that, instant confirmation is also done via our own API (which is via wss, ssl) and there is no reason as to why it couldn't be done with ECDSA instead, issue as usual is key management.

You think arbitrage&liquidity between exchanges via instant confirmation is not well suited for exchanges?

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contingencies|11 years ago

You think arbitrage&liquidity between exchanges via instant confirmation is not well suited for exchanges?

With all due respect, correct me if I'm wrong but I don't believe you run a major exchange. There are loads of factors that need to be considered including legal, fraud, security, timezones, multi-hop settlement times (transactions that involve crossing assets) for which we are perhaps one hop and which rely on speed and precalculable latencies, etc. Basically, if anything at all to do with running and exchange seems 'obvious', you probably don't have the whole picture.

Furthermore, most of these issues are better solved in a manner that is not asset-specific or intimately connected to an asset-specific settlement network, ie. we really don't want Bitcoin to provide its own, half-assed solution for what is not a Bitcoin-specific problem.