Decentralized or centralized exchange? - page 2.

Enre

sr. member

Activity: 617

Merit: 256

ICO Accelerator & Consultant

Quote from: clip123 on October 14, 2017, 01:19:56 PM

None I guess

Not sure what will happen to our funds if OpenLedger goes down that is used by decentralized exchange BitShares.

In the case of centralized exchanges, you can read about Mt. Gox and BTC-e crack down.

I do have small amounts on exchange to buy stuff but I move it to cold storage even if it is small stuff. Hope this answers your questions.

OpenLedger is just a frontend to Bitshares. You can use bitshares wallet or rudex and it will all still work as long as Bitshares is up!

monkeydominicorobin

full member

Activity: 294

Merit: 104

✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪

Quote from: Jameseversmile on October 14, 2017, 10:44:33 AM

Which do you prefer, centralized or decentralized exchanges, why?

Decentralized exchanges offers more advantages. Including better deals. Because most of these exchanges are not in it for the money. They just want their own cryptocurrency to flourish in the long run.

Skyborn

member

Activity: 98

Merit: 10

Quote from: splat44 on October 16, 2017, 02:18:55 PM

I would choose Decentralized market over Centralized market. first you can send many bitcoin as you can without any verification of your identity and low cost fee. But in a Centralized exchange they need your identity , limited bitcoin withdrawal and if you get problem with your account we need to pass a ticket.

Exactly, the concept is definitely way better than centralized exchanges and I think in the future they will certainly be the way to go. I specifically like them because it allows for on chain transactions and it basically cuts out the middle man (the exchange itself). But right now the majority of decentralized exchanges are less userfriendly than normal exchanges and lack quite a bit of trading volume. But this will certainly grow with time.

splat44

sr. member

Activity: 384

Merit: 250

I would choose Decentralized market over Centralized market. first you can send many bitcoin as you can without any verification of your identity and low cost fee. But in a Centralized exchange they need your identity , limited bitcoin withdrawal and if you get problem with your account we need to pass a ticket.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: Slow death on October 14, 2017, 11:35:01 AM

Quote from: Jameseversmile on October 14, 2017, 10:44:33 AM

Which do you prefer, centralized or decentralized exchanges,

decentralized exchanges

Quote from: Jameseversmile on October 14, 2017, 10:44:33 AM

why?

in a decentralized exchange there are no third parties to maintain their funds, trades occur directly between users. is an automated process.

The biggest advantage of this, at least I think, is that people are not required to disclose their personal data to anyone

I would have the same choice too which I do prefer decentralized exchange Ex. Etherdelta. I do really love the site when it comes on trading Erc20 tokens since you can trade it up without the need on giving informations and doesn't have any restrictions or limitations since theres no 3rd party involved which would dictate or require such thing.This is really the biggest advantage compared into a centralized one.The thing I do have on trading on ED is that their graphics is too heavy for it to load for too long and sometimes transactions are too delay even you do put sufficient or high gas but well it does depend on network congestion.

PokerDiceMan

hero member

Activity: 602

Merit: 501

Undeads.com - P2E Runner Game

if want get profit i like centralized exchange,
compare centralized exchange (etherdelta, dex waves and more) vs poloniex, bittrex and etc
so easy can get profit if trade in poloniex , bittrex if compare etherdelta ,dex waves

but if long term i like decentralized

Welsh

staff

Activity: 3304

Merit: 4115

I think with users trading with each other with the right automatic systems in place, it's good. But, there will be scams and would work like Ebay does without the moderation. That's what decentralized is and prevents the company running away with any funds like they have in the past.

But, I think it's also good to have an automated escrow system. I believe it's a good way to introduce newer members into investing into Bitcoin even though its p2p. But, there's more risk and you would have to trust both the exchange and the person dealing with

BrewMaster

legendary

Activity: 2114

Merit: 1293

There is trouble abrewing

of course i (and i am sure everyone else) would love to use "decentralized" exchanges. but there is always a big issue that these decentralized exchanges are not so popular and also they do not offer the same features as the centralized ones.

the biggest downside is the fiat markets. i don't even know how that can work! fiat demands a centralized place to ensure no fraud happens.

but crypto versus crypto trading is much easier to do. although i have yet to see a user friendly and easy to use decentralized exchange that can get a high volume enough for liquidity.

george_@Clooney83

newbie

Activity: 9

Merit: 0

Quote from: Jameseversmile on October 14, 2017, 10:44:33 AM

Which do you prefer, centralized or decentralized exchanges, why?

i like decentralized web site. because i have more secure data so for that saving purpose i have to use decentralized web site only. compare to centralized exchange decentralized exchange has great features. so in my point of view decentralized exchange is better. for my transaction purpose i have to use decentralized exchange only. so it is better to use.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: Jameseversmile on October 14, 2017, 10:44:33 AM

Which do you prefer, centralized or decentralized exchanges, why?

A decentralized exchange is better than a centralized exchange obviously. The fact that every other site in the world needs you to use some personal information to access it just makes it a farm for data collection which is obviously going to be sold to the darknet. Every centralized exchange is like that and you may not able to keep all your information secret if you use a centralized one. There have been some decentralized exchanges but they are still in process of development and gaining popularity.

Scallywag

full member

Activity: 249

Merit: 100

Decentralized is better i think , we have seen in the past owners dissapear etc.

Sirjamesadeiza

newbie

Activity: 56

Merit: 0

I prefer decentralized exchange because I have my private keys, this make so much sense to me

CodyAlfaridzi

hero member

Activity: 1708

Merit: 541

I prefer the idea of decentralized exchange. But as of today, there aren't many decentralized exchanges available, let alone the one with enough volume for trading. Those exchange also doesn't have advanced trading features and usually not easy to use. Centralized exchange is still the way to go for at least 5 years ahead.

Quote from: mindsports.io on October 15, 2017, 03:08:43 AM

decentralized exchange works, etherdelta, works smooth and fine with a daily trading volume at > 1000 BTC now.

Etherdelta is working but painfully slow to use for me at the moment. Not sure what caused that though.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

Decentralized applications are still in their early days, which means that they may have some critical vulnerabilities - the failure of the DAO would be the best example of it. So, right now I wouldn't trust any big amounts of money to a decentralized exchange. Also, it's unclear to me how exactly are decentralized exchanges are going to operate with fiat, since fiat is under complete control of banks and payment processors. I know that there are many operating crypto to crypto exchanges, but crypto to fiat is what is really important, since it's the link to mainstream financial worlds, while altcoins are mostly just speculative tokens with zero real use.

HeRetiK

legendary

Activity: 3038

Merit: 2166

Playgram - The Telegram Casino

Quote from: Jameseversmile on October 14, 2017, 10:44:33 AM

Which do you prefer, centralized or decentralized exchanges, why?

So far I'm using only centralized and partially-centralized exchanges. To be honest I wasn't aware that we already have decentralized exchanges up and running.

Ideally, I would prefer decentralized exchanges, but that depends on what they have to offer -- ie. whether they are secure, whether they are in fact decentralized, whether they offer all the functionality I expect an exchange to have.

LevelOne

member

Activity: 65

Merit: 11

Does currently exist some decentralised exchanges?

I know Kyber Network will be one working with blockchain
"Kyber Network is a decentralized and trustless exchange that facilitates instant conversion of crypto-assets with guaranteed liquidity"

mindsports.io

newbie

Activity: 28

Merit: 0

decentralized exchange works, etherdelta, works smooth and fine with a daily trading volume at > 1000 BTC now.

Manymachine

newbie

Activity: 12

Merit: 0

Decentralization is just THE THING TO USE , why? !
Because of it , you have a high level security on your accounts on decentralized exchanges , how? All your informations are not registred in any servers , place , ....
Thats the power of the blockchain and cryptocurrencies....
And the best for the end , you do not pay any taxes to your country except if the government impose taxes and laws on it , but with decentralization, it'll be easy to skip them , of course taxes are important so at least try To pay them a bit !!

blockman

hero member

Activity: 3066

Merit: 629

Vave.com - Crypto Casino

Quote from: Jameseversmile on October 14, 2017, 10:44:33 AM

Which do you prefer, centralized or decentralized exchanges, why?

What's happening now there are decentralized exchanges that are starting to become centralized because they had to comply with the government's lawsuit on where they are operating. But preferring of these two, I would love to prefer decentralized though centralized will give us a lot of advantage but we are in crypto. That's the reason why we are here and that is because we want decentralization.

clip123

member

Activity: 193

Merit: 10

None I guess

Not sure what will happen to our funds if OpenLedger goes down that is used by decentralized exchange BitShares.

In the case of centralized exchanges, you can read about Mt. Gox and BTC-e crack down.

I do have small amounts on exchange to buy stuff but I move it to cold storage even if it is small stuff. Hope this answers your questions.

Topic: Decentralized or centralized exchange? - page 2. (Read 1440 times)