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With circle it takes usually days to get coins in and that's business days too. I've just heard about this though, where would one go to download the app? Is the program still in beta? Coinffeine the company is shutting down, as often happens with startups. However the software is open source and distributed, so it can work even if its creators disappear as long as there are a couple of peers running it. They have taken down the download links on the website: I didn't know anything about them shutting down, it's a pity because they put in so much good work.
Can anyone confirm this or not?? VCLChief on October 13, , It is very sad. An exchange which never touches customer funds neither BTC nor fiat and therefore has no legal liability, as well as being global and uncensorable seems absolutely necessary to make Bitcoin more resilient.
The good news is that even if Coinffeine the company disappears, their software still works. It just needs users. I urge anyone who can to get the code for v. I think what it comes down to is this: They will obviously care about security if the Bitcoin exchange gets hacked but that's really something that only becomes evident when it happens and it's happening a lot less with properly run, venture-backed exchanges.
So really, if the only benefit p2p exchange software can offer to consumers is security which can also be done by centralized exchanges - as mentioned , and that benefit is completely invisible: In the end Coinffeine didn't fail because they had a bad team, a lack of funding, poor execution, or anything of the sort.
They failed because people want things fast and easy, and security slows that down. It turns out what people actually want is a properly run centralized exchange that isn't hacked every week and there are plenty of those now.
Last but not least: It's hard enough to get people buying coins and "exchange" sounds scary enough as it is. Some people have smartly called their exchange a "wallet" but that probably doesn't help much when exchange is what everyone searches for. Could lead to confusion, so lets just say there's enough education to have people search for exchange. What exactly is a p2p exchange? Sounds weird and scary. And why do I have to download it?
But lets assume they do download it: So exchanges that are already established and have the most volume are going to be far more useful than those that aren't. There is a network effect at play here: It looks like a very good idea but I don't think it has enough traction.
Uptrenda on October 14, , I agree with many of the points that you make. In fact I never saw the main advantage of this to be for final users, but rather for b2b and professionals. If you run a website that sells bitcoins in a fast and convenient way to consumers Another clear advantage is the uncensorable part. Even Localbitcoins has had to exclude a number of countries because of regulations. A bittorrent type system could work in those places.