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macourtney edited this page Oct 26, 2011 · 6 revisions

How do people get their money?

Dark Exchange does not handle any money. Instead, it acts as a place where people can post orders and walks you through completion of a trade.

Example: You search on Dark Exchange and find an offer you want to accept. The first step is to accept the offer. Dark Exchange will then allow the person you accepted the offer from (called your trade partner) the chance to agree to trade with you.

After the trade is accepted on both sides, Dark Exchange will now walk you through the exchange of money. Since you accepted the offer, you are required to send money first. After you send the money, you will be required to notify your trade partner in Dark Exchange by opening the trade and clicking on the "Payment Sent" button. Your trade partner will verify he or she has received your payment, then notify you when they have sent their payment. Once you have received your payment, you will notify your trade partner by clicking on the "Payment Received" button. After both payments have been received and verified, the trade is complete.

If I post an offer through Dark Exchange and then go offline, does that mean nobody can now see my offers?

Yes, when you close Dark Exchange, your orders will not be on the network anymore. Think of your Dark Exchange client as your own personal server. When you shut it down, no one can access it anymore.

How do you keep track of buy and sell orders throughout the network?

Buy and sell orders are only on the machines with offered them. To find a buy or sell order you perform a search in the Dark Exchange client. The Dark Exchange client will then connect to every node in the network it knows about and asks for their current buy and sell orders.

Note: the above description is not exact and meant only as a guide for understanding. The exact mechanism for searching is a bit more complicated, and may change in the future for performance reasons.

How do you protect it from spam? For example, a guy creating an ask for 1 million bitcoin for 1 penny, then accepting his own offer?

The short answer: There is no protection because you currently can't see what other people are buying and selling at.

The long answer: Currently, Dark Exchange only keeps track of your exchanges. There isn't away to see what other people are buying and selling for.

I may add this feature in the future, but only allow you to see the prices from people in your trust network. If someone starts spamming your network with bad trades, you could simply remove him from your trust network. The hardest part of adding this feature is making everything transparent enough for your to find the person spamming the network and removing him.