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Well, you could create a certification program in which member exchanges agree to a set of financial standards between each other - e.g. they would automatically do charge backs on disputes within the system.

This could lower the transactional-risk cost between doing business with certified exchanges, and still allow users to do business outside but with the increased transactional costs.

But then again you're just building another financial exchange system controlled by the certificate issuer - except it would need to be backed by some form of international enforcement (e.g. WTO?).

Where is the benefit to bitcoins then?

All of you guys seem not to be aware of the things you can do with Bitcoin. Eg: multi-signature wallets.

You won't need insurance when the coins simply can't be stolen.

I am aware of multisig, but multisig precludes realtime trading, which is usually the main point of an exchange.

It'd be a good idea for Coinbase to implement, though.

Some Googling only brings up names of exchanges that are working on multi signature wallets. Do you have a link to how to set it up on your own machine?

Sure: https://www.youtube.com/watch?v=zIbUSaZBJgU

But there are also some online wallets that already implemented it:



https://www.bitalo.com/ (this one is also at the same time something like localbitcoins.com)

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