Topic: Am I asking too much? - page 2. (Read 1893 times)

That is a complete wrong assessment ,how can a decentralized network be controlled.

The problem is i think it is impossible to make these sort of free exchanges as it could break all the trade regulations and even if a crime is reported there is nothing you can do and with it if you are not following the basics,even i like to have my privacy but i do not mind providing my verification details as long as my privacy is maintained.

This makes no sense, absolutely

If someone establishes an exchange in the international waters or on a private island, it can be easily hijacked by terrorists or their likes (or some rogue government agencies). Apart from that, top exchanges need the fastest Internet available today to remain competitive. I don't really know how you are going to achieve that on an isolated island. Further, such exchanges as Bitfinex are already mostly virtual, i.e. they exist entirely in cyberspace. Indeed, they have some physical presence since they still need processing capacity, read they need servers and other equipment as well as staff, but this is by far a better approach

That's why mostly shady people will stay on there. Drug dealers and criminals and terromists

Overall the idea is good, but the reality is in its idealism it's naive

I found this post interesting but, no one has chimed in really with next level ideas or pointed out anyone who has started doing so... only the pieces.

Well... all the pieces are here to do this, someone just needs to put it all together and back it.

The exchange you are asking for has to reside in the cloud... and to do so it needs to run in the EVM (Ethereum or Expanse Virtual Machine) which would execute the code base the exchange needs to operate. This is not cheap right now... not yet... in the future when these two coins increase in value, running inside the EVM will be much more cost effective. For now this is the limitation.

The EVM is designed not to provide CHEAP or even AVERAGE virtual compute... it is to provide INSANELY ANONYMOUS and AVAILABLE virtual compute that is P2P driven, resilient and where the code you submit to the EVM can only be changed by YOU the token creators for that platform. Therefore, it is expensive at current rates, you pay for the insane availability those platforms offer access to and for this idea, it is probably cost prohibitive.

Once that hurdle can truly be cleared, it becomes a matter of using blockchain for trust and identity for those users who wish to back tokenized assets on those platforms with their fiat or other physical assets. The Expanse dev team is already developing this too... a blockchain driven World Trust network if you will, which would allow asset holders to back crypto tokens with those assets tied to their World Trust identity.

Put those together with the developments in ZCASH private transactions, and several other developing communications protocols in promising projects here, you have yourselves the making of exactly what you are asking for.

GOOD things come with TIME and proper effort... and the pieces above are coming together whether we want it now or can wait a few more years.

PARTICIPATE and CONTRIBUTE... this whole thing gains value every day people do so.

I wish someone would establish an exchange on international waters or on a private island and that exchange wouldn't require any verification or personal details. No government would be able to influence it and force it to share the identities or IPs of its users. If someone finds a way to make such an independent exchange he's going to make millions on it.

If you want liquidise your money then must use local bitcoin wallets . Yes again it's regularised so there will be a procedure to follow based on your country

All of these guys have said quite decent information and advise for you to try, and they think you are asking too much which is true, but to tell you the truth I am exchanging my bitcoins with fiat with the help of the bank, it is a bitcoin wallet and bank relationship if you ask because there is not much other ways to settle in my country but I don't think it is the same for your country either.

have you heard for tokens that you can exchange for physical gold, and if you want, the gold is send to your home, or storaged by them.

https://www.dgx.io/

I think this is it... I hope I helped.

I know yobit let's you exchange is for bitcoins and you don't have to have the usd until you withdraw so it's what you want. You sit with the isd reflected in your account . So simply go from is to Bitcoin or vice versa and only actually draw the fiat if you withdraw off the exchange. I don't know why you would want to exchange to gold though.

I know what you want because I had exactly the same problem only took inquiries and research to solve.

USDT(Tether) is a good alternative. Being using it for weeks now as a safeguard to crazy Cryptocurrency fluctuations. Am not sure whether it is regulated or immune to exchange crash

Bitshares has ok volume for USD and CNY pegged assets, but not for a gold backed one.

The problem with Ripple is that the value of anything (except XRP itself) is at the mercy of some company that in most cases has no legal obligation to by that token back even if they sold it as "dollar" or "gold".

Yep decentralized implies that its peer to peer but to facilitate trading in fiat a trusted third party is required for deposits and withdrawals.

Bitcoin is on the way to become centralized. So, yes, you are asking too much. In our world it's easier to centralized bitcoin rather to decentralize exchange into gold or fiat.

This is not too much to ask as this will even create inter platform trading which will equally blend both items but the issue here is that while bitcoin is not regulated, gold is fully regulated and aside that bitcoin is yet to be accepted into the mainstream of trading like other commodities such as gold, silver, currencies, crude oil among others so if this can happen I am sure that a cross platform WL be created to make this dream a possibility.

No you are not asking too much but right now we even don't have any reliable decentralized bitcoin exchange with good trading volume. Any token that will be backed by gold or fiat will be centralized so even though you use decentralized exchange to trade them with bitcoin, government can easily shut those token down and you may end up with nothing.

Thanks for the replies. This is not directed at anyone, just a comment.

But how sad is it that a group of adults cant freely buy and sell legal assets without regulations, controls and government breathing down our necks. Even worse many of us don't think that will ever be possible.

Yes and no. A decentralized exchange as in something like good old P2P localbitcoins isn't too much to ask; but a digital exchange similar to Poloniex is. You can't really get physical assets to another person unless you go through a centralized system (mail, FedX, UPS, ect) or meeting in person. Not to mention regulations on physical goods and Fiat.
Edit: Grammar

Take a look at bitcoin marketcap, there's an exchange that receives a cryptocurrency exchange with gold, or an investment  bitcoin with gold, many businesses are opened with bitcoin.

A decentralized exchange cannot do something like that though. This is the biggest issue that I have with people who don't understand the terminology that they're using.

A decentralized exchange would not be able to hold gold or fiat for you, without you having to rely on someone else to store it, because it requires physical storage and it can't just materialize. If you trade with someone for gold, how do they send you their gold? There is nowhere to deposit it because there is no central authority, which could then send you your portion of the gold.

What you want is a centralized exchange with more options.

decentralized pure online fiat is impossible by its nature.

decentralized crypto exists already, theres one on the ethereum blockchain