How important are exchanges? - page 6.

Gallar

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Quote from: Queentoshi on October 21, 2022, 09:10:05 AM

Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?

exchange is the reason for the existence of currencies, digital money, and crypto/bitcoins.

because if there is no trade-off, what is it all for?
that certainly all lead to the needs of each person.

try to think seriously and focus, what is all that for? surely the end will lead to human needs on this earth.

nullama

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Quote from: jokers10 on November 13, 2022, 11:30:15 AM

~snip~
As Bitcoin is a decentralized currency and has no options of making anyone of using only it there will always be some other kinds of currencies (until the idea of currency will become outdated in general). So right you are, if we have any different types of payments we will certainly need an exchange to transfer from one into another, and it will last invariably within the foreseeable future. Grin

It will probably end up being a bit similar to how gold was treated in the century in which gold standard was used worldwide (around 1870s-1970s).

Maybe the Bitcoin standard will start in the 2020s.

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Quote from: Inwestour on November 13, 2022, 08:23:49 AM

Quote from: Wiwo on November 10, 2022, 02:04:34 PM

The FTX case has proven the importance of exchange to Bitcoin price and future, we saw how the price of Bitcoin dropped significantly after the issue was reported, and even though Bitcoin price will eventually recover in the coming days but the impact of the FTX incident was well felt in the entire cryptocurrency market since the last few hours and not only Bitcoin but all other coins also felt the bad impact and if we must come to a conclusion at this point it is, exchange plays an integral part in cryptocurrency transactions and acceptability.

The collapse of large projects affects the entire crypto market, it has always been like this, but I don’t agree with you that shortly the price of bitcoin will return to its previous values, it is clear that the bankruptcy of the FTX had a significant impact on the market, many lost their money, such negativity does not pass quickly. Perhaps now it is important that the weak leave this market and no longer be a weak link in the future.

Well, you are not far from the truth also but where I will have different views and opinion on the recovery state of bitcoin is the fact that there has been a track record of how Bitcoin always recover from the impact of any big event such as when china ban cryptocurrency the price of most coins dropped but with time their all recovered back. It was after then that Bitcoin reached an all-time high of 69k so even the FTX hack will not hold the price down for long.

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Quote from: nullama on November 13, 2022, 04:10:59 AM

As long as bitcoins are not generally obtained by providing goods and services, we would need exchanges to switch fiat received for goods and services for a better money, Bitcoin.

But even at places in which that happens, like El Salvador, there would still be people that prefer other types of money, like USD in that case. So exchanges will probably always will be needed.

As Bitcoin is a decentralized currency and has no options of making anyone of using only it there will always be some other kinds of currencies (until the idea of currency will become outdated in general). So right you are, if we have any different types of payments we will certainly need an exchange to transfer from one into another, and it will last invariably within the foreseeable future. Grin

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Quote from: Warkop on November 13, 2022, 07:47:17 AM

Quote from: nullama on November 13, 2022, 04:10:59 AM

Quote from: Queentoshi on October 21, 2022, 09:10:05 AM

Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?

As long as bitcoins are not generally obtained by providing goods and services, we would need exchanges to switch fiat received for goods and services for a better money, Bitcoin.

But even at places in which that happens, like El Salvador, there would still be people that prefer other types of money, like USD in that case. So exchanges will probably always will be needed.

I agree with you, that it is true that it would be risky to use bitcoin as a means of giving goods, because bitcoin is only for exchange.

That's just a few people to avoid shipping costs, because there are many options in sending to exchanges, in contrast to a few years ago the exchanges that were served in the crypto world were only a few, in contrast to the current year, there are so many even have the option to exchange it instead only bitcoin and even other crypto you can use to exchange it to fiat currency..

He did not say that using Bitcoin as payment for services and daily needs would be risky. He is point out that we cannot use Bitcoin on a daily basis to buy food and avail services because Bitcoin and other cryptos are still not widely accepted as a mode of payment across the globe. This is why exchangers are important. Indeed we can use bitcoin as a mode of payment but only to businesses or individuals who are still into this industry, which serves as a limitation. Let us accept the fact that usage of Bitcoin and other cryptos as a mode of payment at the present, is still handicapped. Things might change in the future once massive adaptation occur but for now, exchangers would serve as a bridge between cryptocurrencies and fiat to one another and also, crypto to crypto relationship (swapping of one token to another token).

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Quote from: Wiwo on November 10, 2022, 02:04:34 PM

The FTX case has proven the importance of exchange to Bitcoin price and future, we saw how the price of Bitcoin dropped significantly after the issue was reported, and even though Bitcoin price will eventually recover in the coming days but the impact of the FTX incident was well felt in the entire cryptocurrency market since the last few hours and not only Bitcoin but all other coins also felt the bad impact and if we must come to a conclusion at this point it is, exchange plays an integral part in cryptocurrency transactions and acceptability.

The collapse of large projects affects the entire crypto market, it has always been like this, but I don’t agree with you that in the near future the price of bitcoin will return to its previous values, it is clear that the bankruptcy of the FTX had a significant impact on the market, many lost their money, such negativity does not pass quickly. Perhaps now it is important that the weak leave this market and no longer be a weak link in the future.

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Quote from: Queentoshi on October 21, 2022, 09:10:05 AM

Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?

Of course, Bitcoins can exist without exchanges but there will always be the need of transacting coins and exchanges are a crucial part of that process. The thing is, that we should not rely upon centralized exchanges to do the bidding. We should only support decentralized exchanges because it takes out the equation of having the risk of your coins being stuck with the centralized exchange and therefore be possible of being captive by regulatory imposition.

We should avoid having coins in centralized exchanges and keep supporting the development of decentralized options to transact.

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Quote from: nullama on November 13, 2022, 04:10:59 AM

Quote from: Queentoshi on October 21, 2022, 09:10:05 AM

Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?

As long as bitcoins are not generally obtained by providing goods and services, we would need exchanges to switch fiat received for goods and services for a better money, Bitcoin.

But even at places in which that happens, like El Salvador, there would still be people that prefer other types of money, like USD in that case. So exchanges will probably always will be needed.

I agree with you, that it is true that it would be risky to use bitcoin as a means of giving goods, because bitcoin is only for exchange.

That's just a few people to avoid shipping costs, because there are many options in sending to exchanges, in contrast to a few years ago the exchanges that were served in the crypto world were only a few, in contrast to the current year, there are so many even have the option to exchange it instead only bitcoin and even other crypto you can use to exchange it to fiat currency..

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Quote from: Mr.right85 on November 10, 2022, 02:33:56 PM

Quote from: Queentoshi on October 21, 2022, 09:10:05 AM

Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?

In some way they might but, I'll try not to view it as that. They definitely play a of defining the price and value of coins. That's actually an important aspect of a currency. Its the reasons we've got the foreign exchange markets for flats too.

In the eyes of rejection and a dream of the global bitcoin adoption as a secondary currency (let's not be too ambitious), exchanges makes it easy for one to spend his or her bitcoins by converting it to its fiat equivalent and one can work with what is accepted at there locality.

Exchanges are that important and they allow other forms of trading too. They are helping for sure.

Perhaps it was a tool connected to crypto. Because in the first place, we can never see exchanges if there is no Bitcoin or crypto. But because it fits the need of the people, exchanges have been playing an important role in a growing cryptocurrency just like fiat exchanges. They both tide up strong and we ca n really appreciate the importance of this because we are using this especially if you are a trader.

What just went wrong is that many scam exchanges popped up and many people lost their money in the hands of scammers. That is why some people will think it is better to no exchanges have been created.

nullama

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Quote from: Queentoshi on October 21, 2022, 09:10:05 AM

Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?

As long as bitcoins are not generally obtained by providing goods and services, we would need exchanges to switch fiat received for goods and services for a better money, Bitcoin.

But even at places in which that happens, like El Salvador, there would still be people that prefer other types of money, like USD in that case. So exchanges will probably always will be needed.

ModestyKK

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I think communication is still necessary now, and communication has become more and more popular over time. For example, when I first learned about entering the market, I learned how to operate and understand the market from the exchange, which is very friendly to newcomers.

Mr.right85

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Quote from: Queentoshi on October 21, 2022, 09:10:05 AM

Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?

In some way they might but, I'll try not to view it as that. They definitely play a of defining the price and value of coins. That's actually an important aspect of a currency. Its the reasons we've got the foreign exchange markets for flats too.

In the eyes of rejection and a dream of the global bitcoin adoption as a secondary currency (let's not be too ambitious), exchanges makes it easy for one to spend his or her bitcoins by converting it to its fiat equivalent and one can work with what is accepted at there locality.

Exchanges are that important and they allow other forms of trading too. They are helping for sure.

Wiwo

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Quote from: Hamza2424 on November 10, 2022, 08:28:45 AM

hah, I think you can get your information from the recent activities as FTX and finance this fud proved how important exchanges are so now you can calculate these things haha market is trapped again there. Bro remembers exchanges are important and hence it is proved from time to time.

The FTX case has proven the importance of exchange to Bitcoin price and future, we saw how the price of Bitcoin dropped significantly after the issue was reported, and even though Bitcoin price will eventually recover in the coming days but the impact of the FTX incident was well felt in the entire cryptocurrency market since the last few hours and not only Bitcoin but all other coins also felt the bad impact and if we must come to a conclusion at this point it is, exchange plays an integral part in cryptocurrency transactions and acceptability.

lizarder

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Exchange in our opinion is very important in the journey of crypto and bitcoin, although there are other ways to do mining, but for mining issues I think it is quite limited to reach people, considering mining requires tools to operate. While the simplest is to use an exchange to buy/sell crypto and bitcoin. In addition, we also need to identify exchanges that have credibility, are trusted and have a good level of security.

Therefore, we think exchanges are very important for the cryptocurrency journey, although it should be selective in choosing. So far I don't really understand if there are other ways to get crypto or bitcoin, other than using mining methods and making purchases through exchanges, but they are not included in the category of getting for free, such as Faucets, Cloud Mining and others.

Hamza2424

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hah, I think you can get your information from the recent activities as FTX and finance this fud proved how important exchanges are so now you can calculate these things haha market is trapped again there. Bro remember exchanges are important and hence it is proved time to time.

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Quote from: D ltr on October 23, 2022, 05:33:46 PM

In my opinion, for now the exchange is very important in the development of bitcoin, the reason is because bitcoin has not become a means of payment, if done p2p, it is too dangerous at this time, fraud will always occur in every transaction. even though p2p is the same as an exchange

I don’t agree, bitcoin perfectly fulfills the functions of a means of payment, and a lot of businesses are starting to accept cryptocurrencies as payment for their services. As for exchanges, in addition to the advantages described earlier, I can add that exchanges allow new users to simply buy bitcoin and understand what financial situation it is in.

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Quote from: serjent05 on November 04, 2022, 02:45:01 PM

I support the idea that the existence of exchanges is among the factor that makes Bitcoin popular, and accessible with ease. With exchanges, people who are too lazy or not knowledgeable enough to set up and secure a wallet, are able to do that in a single step. Besides having an exchange attracts speculators, investors, and traders to get into the Bitcoin market. Without exchanges, I doubt that people involved in trading will be as many as today.

So basically, exchanges are very important to establish a marketplace where people can easily buy and sell different cryptocurrencies and currencies. Without a marketplace, I doubt people will take notice of Bitcoin.

The market has impacted the growing bitcoin economy due to the ever-increasing number of traders. I certainly agree on the same assumption that exchanges have contributed to why today bitcoin is growing and becoming more and more popular among the public. Without the swap I would probably have imagined something different, but that's a fairy tale.

So popularity and accessibility strongly supported by the existence of exchanges whether it is centralized or decentralized. I support that argument.

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Quote from: Queentoshi on October 21, 2022, 09:10:05 AM

Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?

I support the idea that the existence of exchanges is among the factor that makes Bitcoin popular, and accessible with ease. With exchanges, people who are too lazy or not knowledgeable enough to set up and secure a wallet, are able to do that in a single step. Besides having an exchange attracts speculators, investors, and traders to get into the Bitcoin market. Without exchanges, I doubt that people involved in trading will be as many as today.

So basically, exchanges are very important to establish a marketplace where people can easily buy and sell different cryptocurrencies and currencies. Without a marketplace, I doubt people will take notice of Bitcoin.

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Quote from: witcher_sense on November 02, 2022, 10:30:41 AM

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There will be two types of Bitcoin: a "clean" permissioned asset and a "tainted" decentralized one. But he thing is that given that bitcoin is as fungible as any other "hard" asset, any division will be highly subjective and based only on the source from which particular chunk of bitcoin has come. If it came from a regulated cryptocurrency exchange, it will be considered good even if it has had connections with criminal activity. However, if it comes from individuals who participate in anonymous peer-to-peer exchanges, it will automatically be deemed criminal money, even if there were no such connections. So, we can assume that in the future, exchanges will play a major role as government's means of control.

It is possible that we might reach those situations in the future but not anytime soon. As long as it is decentralized and i am able to spend my coins without revealing my identity and the source i will be more than happy to use them as my currency and the moment it stops being a pseudo privacy asset there is no point in using them. Heard some online wallets are having issues with the source of funds, if they are from gambling sites or mixers and i wish those stays on that limits and nothing extreme.

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Quote from: witcher_sense on November 02, 2022, 10:30:41 AM

I already said it in another post but the topic got deleted: cryptocurrency exchanges will continue to exist as regulated entities because they are the tool that governments use to control the flow of bitcoin and alternative cryptocurrency assets. When Bitcoin becomes a widely-accepted means of payment, the need for financial control, read censorship, is going to increase even more. There will be two types of Bitcoin: a "clean" permissioned asset and a "tainted" decentralized one. But he thing is that given that bitcoin is as fungible as any other "hard" asset, any division will be highly subjective and based only on the source from which particular chunk of bitcoin has come. If it came from a regulated cryptocurrency exchange, it will be considered good even if it has had connections with criminal activity. However, if it comes from individuals who participate in anonymous peer-to-peer exchanges, it will automatically be deemed criminal money, even if there were no such connections. So, we can assume that in the future, exchanges will play a major role as government's means of control.

I accept all the point you outline on exchange and it role in bitcoin adoption and government attempt to regulate and control digital asset such as Bitcoin, the only point you failed to mention is that.
Government will eventually allow the use of Bitcoin exchange most especially centralized exchange will be use by government to monitor members Bitcoin asset and how tax the income.

I just like i have said it before, Bitcoin may be impossible to be regulated because of Bitcoin decentralization but then other Bitcoin services such as exchange can easily be regulated

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