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Roll Your Own Bitcoin Exchange in Haskell

137 points by MichaelBurge 9y ago

espitia 9y ago
A bit OT: There's a project trying to build a protocol to trade tokens. Essentially allowing anyone to build their own exchange: https://0xproject.com/ https://0xproject.com/ There's also a JS library to interact with the protocol: https://github.com/0xProject/0x.js https://github.com/0xProject/0x.js
- companyhen 9y ago
  Yeah I think this is being built with it: https://medium.com/@the0cean/announcing-the-0cean-85ae78e9bc58 https://medium.com/@the0cean/announcing-the-0cean-85ae78e9bc...
- nly 9y ago
  A distributed, peer-to-peer network of independent exchanges is essentially what the Ripple project all about. They just call them 'gateways'. https://ripple.com/ https://ripple.com/
Fej 9y ago
It appears to me that the trouble with building an exchange isn't the software, but the securities regulations involved in running one. Woe to they who attempt to do so without counsel.
- jboggan 9y ago
  Absolutely, speaking as someone who built an exchange and spent a lot of time trying to figure out a legal route to operate it (I coded, my co-founder was a lawyer). A friend of mine built a very similar product and opened his doors while we were still hesitant, and this happened: http://www.cftc.gov/PressRoom/PressReleases/pr7231-15 http://www.cftc.gov/PressRoom/PressReleases/pr7231-15
  - csomar 9y ago
    Can't you incorporate in an off-shore jurisdiction?
    - ColanR 9y ago
      probably super illegal to operate from offshore in the US.
    - siberianbear 9y ago
      That strategy didn't work for Liberty Reserve, which was in Costa Rica. If Uncle Sam doesn't like what you're doing, he'll find you wherever you are and get you somehow. https://en.wikipedia.org/wiki/Liberty_Reserve https://en.wikipedia.org/wiki/Liberty_Reserve
    - jboggan 9y ago
      Not if you want to ever set foot in the US again. If the SEC/CFTC really wants to nab you, they will. There's almost no way to prevent Americans from using your service and once they do you are wide open to any prosecutor worth their salt.
jlrubin 9y ago
We won’t work with actual bitcoins or wallets, since they add a lot of complexity and risk without making the article any more interesting. Actually that is the most interesting part -- how to manage re-orgs & forks is an open question.

137 points by MichaelBurge 9y ago

A bit OT: There's a project trying to build a protocol to trade tokens. Essentially allowing anyone to build their own exchange: https://0xproject.com/ https://0xproject.com/ There's also a JS library to interact with the protocol: https://github.com/0xProject/0x.js https://github.com/0xProject/0x.js

companyhen 9y ago
Yeah I think this is being built with it: https://medium.com/@the0cean/announcing-the-0cean-85ae78e9bc58 https://medium.com/@the0cean/announcing-the-0cean-85ae78e9bc...
nly 9y ago
A distributed, peer-to-peer network of independent exchanges is essentially what the Ripple project all about. They just call them 'gateways'. https://ripple.com/ https://ripple.com/

Fej 9y ago

It appears to me that the trouble with building an exchange isn't the software, but the securities regulations involved in running one. Woe to they who attempt to do so without counsel.

jboggan 9y ago
Absolutely, speaking as someone who built an exchange and spent a lot of time trying to figure out a legal route to operate it (I coded, my co-founder was a lawyer). A friend of mine built a very similar product and opened his doors while we were still hesitant, and this happened: http://www.cftc.gov/PressRoom/PressReleases/pr7231-15 http://www.cftc.gov/PressRoom/PressReleases/pr7231-15
- csomar 9y ago
  Can't you incorporate in an off-shore jurisdiction?
  - ColanR 9y ago
    probably super illegal to operate from offshore in the US.
  - siberianbear 9y ago
    That strategy didn't work for Liberty Reserve, which was in Costa Rica. If Uncle Sam doesn't like what you're doing, he'll find you wherever you are and get you somehow. https://en.wikipedia.org/wiki/Liberty_Reserve https://en.wikipedia.org/wiki/Liberty_Reserve
  - jboggan 9y ago
    Not if you want to ever set foot in the US again. If the SEC/CFTC really wants to nab you, they will. There's almost no way to prevent Americans from using your service and once they do you are wide open to any prosecutor worth their salt.

jlrubin 9y ago

We won’t work with actual bitcoins or wallets, since they add a lot of complexity and risk without making the article any more interesting. Actually that is the most interesting part -- how to manage re-orgs & forks is an open question.