Topic: Decentralized currencies but Centralized trading - page 2. (Read 935 times)

Most people are using a decentralised currency to make more dollars. That's the only reason they're here. They will go to the places that allow them to do that with the least ball ache and with the most options to maximise the trades that get those dollars.

If Bitcoin required you to install a video camera in your face with a live link to the NSA many would do it if they believed the returns would be unchanged or better.

Very few care about its principles. Luckily many that do are in positions to guard it.



I think that's the important one. The choice should always be open to you if and when it dawns on you. I can't see it being anything more than a weird little niche for a long time to come though.

Is TOR needed for Bisq?

You can provide parameters for your TOR to work whenever its ban in your country.  The Socks, Proxy IP address, port, and authentication information are always in the manual and you can always find help, the internet is for all. Deeponion forum has great helpful users of TOR.

One thing that you should think of is that if you figured how to use Bitcoin exchanges and its wallets, it's never difficult for you to use any DEX GUI since they all work the same way. Its like learning the old 2010 phone and suddenly you have a new 2020 phone.

+1 to that.

No one is going to use the decentralized exchanges that have low liquidity, high spread, high barrier to entry (bisq with the limits on trading), and horrible UI.

While not many hardcore people care about that, the new people are going to care about all of that A LOT. They want to be able to call someone or email someone if they're having an issue. They want everything to be laid out nicely and for the UI to be nice.

That's the world we live in. I still think it is important to build these decentralized exchanges for the hardcore people who want the privacy and the control over funds which is VERY important.

We do have a lot of choices but then we prefer to stick to the exchanges where we can make money the most. Decentralization is compromised by big exchanges that asks the mandatory documents from us. If most of the BTC is going to be owned by institutions who once reign the financial system before Bitcoin then we are back to the old system again.  By the time we realize it, we may only reason there are other coins out.

At least for today there are no strict rules for regulating the activities of cryptocurrency exchanges, and therefore, every trader can remain incognito subject to certain rules. All cryptocurrency exchanges provide the opportunity to trade for example coins such as Bitcoin or Ethereum, while many exchanges do not require verification from the trader. therefore, a trader can trade decentralized currency on a centralized exchange without any obstacles if he complies with the rules on minimum daily cash withdrawals. In addition, if we are talking about cryptocurrency trading using the final funds, then in this case, a bank card can be linked to an account and, accordingly, the provision of KYC will be mandatory.
But anyway, there is still a little time left until the government realizes that a centralized monetary system based on the issue of central banks is already considering its last years to fall.
In addition, I would like to note that if decentralized exchanges are demanded by traders on the cryptocurrency market in the future, then their existence will continue in any case and no government will affect their activities, since in fact they are not based in anyone’s jurisdiction physically.

Both LocalCryptos and Hodl Hodl, like Bisq, also have no KYC and support trading between bitcoin and various fiat methods.

There are multiple ways to access Tor even if it is banned or restricted by your government, ISP, institution/company/university/school/etc. Tor bridges are unlisted relays which are generally not blocked or restricted, and beyond that, you can use pluggable transports which obfuscate your data to hide the fact you are using Tor. See here for more information: https://2019.www.torproject.org/docs/bridges.html.en. You can also connect first to a VPN based outside your country to encrypt all your traffic first, which again, will unblock and hide the fact you are connecting to Tor.

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The bottom line here is convenience. Privacy is a commodity to be traded, and the majority of people are happy to trade it for the slightest convenience. Alexa is listening, recording, and analyzing every word I say to build a profile on me? Well, that's OK so long as I can say my shopping list out loud rather than God forbid I have to write it down! Google is monitoring everything I do online, every page I visit, every search I make, and reading every communication I make? Well, that's OK so long as it gives me a reminder for my appointment rather than God forbid I have to remember it myself! Facebook is building a complete profile of everything I say, do, eat, drink, share, like, view, go, visit, travel, etc., and using that data to build a complete profile of me they can sell to advertisers, political companies, and governments? Well, that's OK so long as I can share photos of my cat.

As much as I advocate for only using decentralized peer-to-peer trading, I obviously can't argue that it is as convenient as centralized exchanges. People care about convenience, and are all too happy to give up their privacy, give up their identity, give up the security of their KYC documents, and give up control over their own money to get it.

Unfortunately, by the time most people realize how valuable their privacy is, it's too late. It is far far harder to reclaim your privacy once you've let all these various companies invade you life.

But it's not just a problem of people wanting to be rich, like you said it's nothing wrong you can still be rich running decentralized businesses. The problem is people aren't ready yet to take control of their own money. Or take responsibility for their own life. They want to be taken care of.

This is a direct result of people opting to trade on centralized exchanges over DEXes. If traders on an exchange increases the volume of currencies they hold will increase, along with its Liquidity. However the more popular centralized exchanges get the more centralized the global trading volume becomes.

Exchanges are strictly regulated, by financial establishments and anyone not conforming to guidelines will usually be tagged risky dissuading traders from using such platforms. While people patronize centralized platforms which are more susceptible to hacks and leaks.

This is one of the reason why people also like centralized exchange. Lets agree that more people are after some trading money and earnings.

I am also using dex but what my needs for trading cant really found there. Like using future contracts. I like doing stocks trading and when I learned it I am fond using the platform of Binance.

Also another thing is liquidity and volume. Dex and cex comparison, decentralized market or exchanges is really behind by those markets. Sad fact but this will continue, its not that I dont like decentralized application but also fond of doing trading using those cex that has better feature than dex.

Well, that's pretty much the reason, and I don't think we should expect things to change anytime soon. The cryptocurrency markets as a whole is pretty much a casino in the first place, and just like gambling on a casino, it can be quite addictive. People really wouldn't care about hard money and self sovereignty because most are currently not being threatened by the consequences.

Part of the problems is lack of adherence to principles, and we don't actively and genuinely discourage these weak points of Bitcoin/crypto. People want to be rich/wealthy at the expense of the network. (you can still be rich running  well decentralized businesses, why not).

It's almost becoming a taboo to promote decentralization and proper use of cryptocurrency. If care is not taken, the wonderful features of real Blockchain/crypto will be chipped away little by little until they find themselves using a completely different tech that is totally centralized and controlled by those/things it was created to avoid/prevent. This is how nations deteriorate after being founded by good founding fathers and with good principles.

Some of the biggest reasons for this are the inadequate demand and the lack of a truly user-friendly decentralized exchange. Many exchanges, which claim to be decentralized, have been centralized on some tokens such as; Ethereum or Neo. In addition to this, there is no decentralized exchange that people can buy Bitcoin via FIAT money outside of Bisq exchange. Also, I cannot even use Bisq in my country because the Tor network is banned. Who would prefer a difficult way if there is an easier way? No one.

Decentralized currencies but centralized trading, that's the reality.

And a study that shows that once again, according to this report, 4 exchange platforms share 90% of the Bitcoin's trading volume (Coinbase, Bitstamp, Bitfinex et Kraken). (It also reminded me of an old article showing that 2/3 of the transactions were related only to trading activities by the way.)

What's the point of using a decentralized currency if next to it people use a centralized platform for trading? Oh I know, follow the money...
This shows that people are not really interested in decentralization and that the P2P trade/trading/payment methods cannot develop properly. If there is no demand there will be no supply and the ecosystem cannot evolve correctly.
(I'm not even talking about the fact that the majority is only interested to speculate)

The question also arises as to the future of these platforms which are acquiring more and more influence over the years, such as Binance or Coinbase for example, which are buying up companies or introducing much broader products than a simple trading platform.

Doesn't that remind you GAFA? (to compare)

We are no longer in 2013 where users had little choice. We have everything we need, more or less, to do without them.
Keep using centralized exchanges and complete the KYC, in less than 10 years they all will be hated.