A complaint that I’ve heard of the traditional stock markets is that they have “hours” (in addition to being difficult to get money into for a “normal” person who doesn’t want to use a broker). Peershares will remove the temporal barrier and allow investments in companies to be conducted at any time, without an artificial set of lockouts (weekends, holidays, etc.)
This is a pretty big deal.
Can we trade peershares in a decentralized manner? Aka, the peershares client will work like a wallet and an exchange at the same time?
Not in the initial builds, but a decentralized exchange is a very interesting concept. Getting fiat funds into the system in a secure way is the first stumbling point that I see 
I don’t mean the introduction of fiat funds. Just the connection between peercoin and peershares.
The Forex, Commodities, Futures, and Treasuries markets operates on a 24 hour clock already. There isn’t a technical issue to trading 24 hrs right now, it’s one of liquidity. The market is so thin in walmart stock when the US is asleep or Telstra Stock when Australia is asleep or Deutsche Post when Germany is asleep that the effort to try is self defeating. Better to just wait for other interested folks to wake up 
On the other hand, awake people worldwide are interested in the markets for Gold or Wheat or dollars and euros so there are plenty of people to trade with
Marketwatch had a good summary article on this back in 2011 which is still up thankfully
hi Ben,
I do think it’s possible to build a decentralized exchange using PoS. When I get the chance I’ll write out the idea.
The key problem in these sorts of systems is time resolution. In order to have an exchange you need to have offers and accepts(at least) and you need to have some way of resolving the earliest response to your market offers in a way that is unbiased. Not so easy to do in distributed systems. PoS gives us a sort of objective time measurement but I’m not sure you can make a very useful exchange out of the timestamps of the PoS blocks.
Once you’ve solved this problem(and I have proposal), then you can do a lot of things. Not only can you build a simple exchange, you can have 1) Auctions 2) Options (because you can measure maturity) 3) and most important of all Credit instruments(because you can measure default events). With these basic elemental building blocks you can build practically any financial instrument we have today in a decentralized way. This means you can have elastic money supplies. You could for instance build a local mortgage market, a local bond market, you could turn practically anything into a ‘bankable’ scenario.
-jmz
hi Ben,
I do think it’s possible to build a decentralized exchange using PoS. When I get the chance I’ll write out the idea.
The key problem in these sorts of systems is time resolution. In order to have an exchange you need to have offers and accepts(at least) and you need to have some way of resolving the earliest response to your market offers in a way that is unbiased. Not so easy to do in distributed systems. PoS gives us a sort of objective time measurement but I’m not sure you can make a very useful exchange out of the timestamps of the PoS blocks.
Once you’ve solved this problem(and I have proposal), then you can do a lot of things. Not only can you build a simple exchange, you can have 1) Auctions 2) Options (because you can measure maturity) 3) and most important of all Credit instruments(because you can measure default events). With these basic elemental building blocks you can build practically any financial instrument we have today in a decentralized way. This means you can have elastic money supplies. You could for instance build a local mortgage market, a local bond market, you could turn practically anything into a ‘bankable’ scenario.
-jmz[/quote]
Several decentralized exchanges are in development, at least two (BitShares and NXT) are based on POS. I’m not sure how they’re solving the time resolution problem; I believe BitShares is ignoring the distinction between “offers” and “accepts.” From their perspective, an order is an order, and overlapping orders in the same block are matched. If there are several simultaneous matched orders at the same price, I think they just match them proportionally to their size or something like that. It will be interesting to see how it works out.
Sent from my SCH-S720C using Tapatalk 2
hi Ben,
I do think it’s possible to build a decentralized exchange using PoS. When I get the chance I’ll write out the idea.
The key problem in these sorts of systems is time resolution. In order to have an exchange you need to have offers and accepts(at least) and you need to have some way of resolving the earliest response to your market offers in a way that is unbiased. Not so easy to do in distributed systems. PoS gives us a sort of objective time measurement but I’m not sure you can make a very useful exchange out of the timestamps of the PoS blocks.
Once you’ve solved this problem(and I have proposal), then you can do a lot of things. Not only can you build a simple exchange, you can have 1) Auctions 2) Options (because you can measure maturity) 3) and most important of all Credit instruments(because you can measure default events). With these basic elemental building blocks you can build practically any financial instrument we have today in a decentralized way. This means you can have elastic money supplies. You could for instance build a local mortgage market, a local bond market, you could turn practically anything into a ‘bankable’ scenario.
-jmz[/quote]
Several decentralized exchanges are in development, at least two (BitShares and NXT) are based on POS. I’m not sure how they’re solving the time resolution problem; I believe BitShares is ignoring the distinction between “offers” and “accepts.” From their perspective, an order is an order, and overlapping orders in the same block are matched. If there are several simultaneous matched orders at the same price, I think they just match them proportionally to their size or something like that. It will be interesting to see how it works out.[/quote]
hi,
In general I’ve found a complete lack of definition on what a Decentralized Exchange is, and an overwhelming abundance of claims to having a solution to it. 
Seems to be something about this space that creates this scenario.
In order to have an exchange where the markets are unbiased, ie. a market people would actually want to participate in you need to address the problems I initially outlined. There are a number of ways that buyers and sellers can exploit bias, and even a little exploit spoils the entire marketplace making a centralized exchange preferable.
-jmz