Has Buttercoin sold itself out? Are you closed source from now on?
Troy BIt would appear so. My conversation with a buttercoin sales rep and a local community bank led me to believe that the banking secrecy act has allowed the existing financial market interests to achieve near complete regulatory capture of bitcoin. It is also quite likely that these same interests have figured out how to do the equivalent of a 'naked short' as evidenced by the Feb 10 Mtgox press release and associated market dynamics.
I think the only path forward now is a free-speech argument that code is speech, cryptocoin codes are money, and therefore *public* trading is constitutionally protected speech. This is something I am interested in releasing a proof-of-concept for, and I need an open-source exchange software that I can link with 3 or 4 transparent cryptocurrencies which explicitly remove all support for any privacy-related features, and, at least initially, operators which actively block any attempt link or trade with other cryptocurrencies that might be consider monetary instruments.
There are probably good arguments that private (non-public) speech of offers-and-acceptance of offers is/are violations of various laws and regulations about tax evasion and money laundering. It will take multi-millions of dollars and many years of constitutional law challenges to even begin to attempt to be able to freely speak an offer and/or acceptance of a trade in private without threat of prosecution.
Busice Flow: Trade request will be sent to the distribution engine, once the distribution engine recieves the request it will identify the currency that is being traded, check what Execution engine is online, what is the status of the execution group. what is the lag time, when was the last trade, and send the request to a single execution group. recieve confirmation that execution group recieved the message.