How long before Decentralized Exchanges become mainstream?

Lampaster

sr. member

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Quote from: Kprawn on February 13, 2018, 12:19:38 PM

Decentralized exchanges was initially created to make it difficult for the authorities to take it down and more difficult for

hackers to hack it. The problem is most of these exchanges will always struggle to establish trust and also to handle fiat.

The governments will also hunt down the operators of these exchanges, because they do not adhere to KYC/AML regulations

like other exchanges. Decentralized exchanges will experience a boom in the coming years as Bitcoin users increasingly seek

a trustless peer-to-peer alternative. Wink

Tell me how much you know of exchanges that support the Fiat and is not working according to the rules governments? There are no such exchanges. For this reason, all users who want to use a Bank card for input and output are required to provide their documents. Are you sure that the exchange does not forward this information to the governments?

vladimirnesgibaev1

newbie

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Thinking more of the official Bitcoin should not be because it is quite inconvenient.

BrewMaster

legendary

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There is trouble abrewing

i voted for "1-2 years" because i really feel that the market needs decentralized exchanges a lot more these days with the growth that bitcoin had and the way it also grew the altcoin market with itself.

and also i say it won't take long because i do believe that the second layer solutions such as lightning network and cross chain transactions such as atomic swap are going to change the game and speed things up a lot.

AymDoo

newbie

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Merit: 0

Decentralized exchanges are already in the market and people are using it to a varying extent. They whole idea fits perfectly with crypto world as decentralization is the mainstream feature. There are some issues need to be worked on before they can get popular. People love to have customer service to solve their problem which can be a challenge here. Another issue is that the governments' regulatory problems as government want to have control over the money movement which is also a problem here.

oaktree

newbie

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Quote from: gentlemand on February 13, 2018, 12:57:22 PM

Quote from: oaktree on February 13, 2018, 12:39:35 PM

The problem with that analogy is that Linux is widely used in the business sector. The whole of Google's search engine, processing billions of searches per minute, is done on a Linux based platform. IIRC they chose Linux at teh start because it reduced the licence fees they had to pay. Lots of govt orgs use Linux for teh same reason. It's only retail users that are predominatly Windows.

Well yes, I'm talking regular people rather than business.

If decentralised exchanges were fully automated and 100% bulletproof, then there's no reason for businesses to go anywhere centralised. I've no idea whether they will be. I was referring purely to retail.

If we ever get a full on IoT economy going there'll be trillions of transactions per day. I'd assume going through a third party for that would be incredibly cumbersome.

Businesses like Overstock have added altcoin payments using Shapeshift. And Shapeshift is essentially decentralised. So, just as with Linux, I'd say the merchant space will go decentralised before ordinary users do.

gentlemand

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Welt Am Draht

Quote from: oaktree on February 13, 2018, 12:39:35 PM

The problem with that analogy is that Linux is widely used in the business sector. The whole of Google's search engine, processing billions of searches per minute, is done on a Linux based platform. IIRC they chose Linux at teh start because it reduced the licence fees they had to pay. Lots of govt orgs use Linux for teh same reason. It's only retail users that are predominatly Windows.

Well yes, I'm talking regular people rather than business.

If decentralised exchanges were fully automated and 100% bulletproof, then there's no reason for businesses to go anywhere centralised. I've no idea whether they will be. I was referring purely to retail.

If we ever get a full on IoT economy going there'll be trillions of transactions per day. I'd assume going through a third party for that would be incredibly cumbersome.

Quote from: SonoCoin on February 13, 2018, 12:49:30 PM

Well then in that case DEX's could be adopted for the same reason. People would want to move away from the uncertainty of regulation and security flaws.

People want customer service, even when it's terrible. And traders will always want order books. There's a big place for both.

SonoCoin

jr. member

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Quote from: oaktree on February 13, 2018, 12:39:35 PM

Quote from: gentlemand on February 13, 2018, 12:32:47 PM

Decentralised exchanges will rise at the same time as centralised exchanges run by competent and regulated operators. It's getting there on both fronts but not quite yet.

For better or worse most will flock to the places that hold their hands. At the same time they'll drive out the people who are either dodgy or simply wish to remain close to crypto's original intentions.

In that case they'll be widely used but never fully mainstream. I think they'll be the decentralised Linux to the centralised Windows.

The problem with that analogy is that Linux is widely used in the business sector. The whole of Google's search engine, processing billions of searches per minute, is done on a Linux based platform. IIRC they chose Linux at teh start because it reduced the licence fees they had to pay. Lots of govt orgs use Linux for teh same reason. It's only retail users that are predominatly Windows.

Well then in that case DEX's could be adopted for the same reason. People would want to move away from the uncertainty of regulation and security flaws.

oaktree

newbie

Activity: 23

Merit: 3

Quote from: gentlemand on February 13, 2018, 12:32:47 PM

Decentralised exchanges will rise at the same time as centralised exchanges run by competent and regulated operators. It's getting there on both fronts but not quite yet.

For better or worse most will flock to the places that hold their hands. At the same time they'll drive out the people who are either dodgy or simply wish to remain close to crypto's original intentions.

In that case they'll be widely used but never fully mainstream. I think they'll be the decentralised Linux to the centralised Windows.

The problem with that analogy is that Linux is widely used in the business sector. The whole of Google's search engine, processing billions of searches per minute, is done on a Linux based platform. IIRC they chose Linux at teh start because it reduced the licence fees they had to pay. Lots of govt orgs use Linux for teh same reason. It's only retail users that are predominatly Windows.

SonoCoin

jr. member

Activity: 46

Merit: 6

Quote from: gentlemand on February 13, 2018, 12:32:47 PM

Decentralised exchanges will rise at the same time as centralised exchanges run by competent and regulated operators. It's getting there on both fronts but not quite yet.

For better or worse most will flock to the places that hold their hands. At the same time they'll drive out the people who are either dodgy or simply wish to remain close to crypto's original intentions.

In that case they'll be widely used but never fully mainstream. I think they'll be the decentralised Linux to the centralised Windows.

I like your analogy of Linux and Windows and the current state of exchanges. I must admit - I hope DEX's continue to innovate by finding ways to compete with large exchanges. It would be beneficial to the growth and well being of cryptocurrencies.

gentlemand

legendary

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Welt Am Draht

Decentralised exchanges will rise at the same time as centralised exchanges run by competent and regulated operators. It's getting there on both fronts but not quite yet.

For better or worse most will flock to the places that hold their hands. At the same time they'll drive out the people who are either dodgy or simply wish to remain close to crypto's original intentions.

In that case they'll be widely used but never fully mainstream. I think they'll be the decentralised Linux to the centralised Windows.

oo666oo

jr. member

Activity: 68

Merit: 1

It is obvious that Decentralized Exchanges are the future, but the Centralized Exchanges have an incredible inertia and people still stick with them. It will probably happen after one of the next big catastrophes of hacked exchanges or exit scams.

oaktree

newbie

Activity: 23

Merit: 3

Is there a list of decentralised exchanges?

People always seem to talk about decentralisation without giving examples of decentralised exchanges that they have actually used and found to be good.

Can anyone suggest a good decentralised exchange that they can recommend?

Kprawn

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Decentralized exchanges was initially created to make it difficult for the authorities to take it down and more difficult for

hackers to hack it. The problem is most of these exchanges will always struggle to establish trust and also to handle fiat.

The governments will also hunt down the operators of these exchanges, because they do not adhere to KYC/AML regulations

like other exchanges. Decentralized exchanges will experience a boom in the coming years as Bitcoin users increasingly seek

a trustless peer-to-peer alternative. Wink

SonoCoin

jr. member

Activity: 46

Merit: 6

Before the scam artists, billions of dollars and wild speculation, cryptocurrencies were set out to empower people by decentralization - a term misused and underappreciated by many. Bitcoin has provided us with the first stepping stone in what will be an uphill battle against the corruption, oppression and greed of financial institutions and governments alike. We've come a long way, but the battle has only just begun. As long as we rely on centralized exchanges as gateways, we continue to deprive ourselves of a truely decentralized means of exchange.

It is only a matter of time before the technology catches up to our needs - and when it does, governments will shake.

Decentralized exchanges will need to find ways to integrate atomic swaps, smart contracts and fiat currencies in order to compete with today's exchanges. Decentralization will make it virtually impossible for governments to regulate and allow users to transact completely anonymously while spending almost nothing on trades.

Progress becomes increasingly important with every hack and shut down of centralized exchanges.

Let's do our best to raise awareness and support decentralized exchanges. Don't underestimate the change.

JuniAiko

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DOGE:DDvXm3ZkXSFeZF9YVaTWGNyBZzfwVf8nnh

I'm still HODLing to my AirSwap (AST), and WAVES!

fiulpro

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Bitcoins has been in the industry since long and still not many in the whole world are preferring Bitcoins ..
Government is trying to control it.. to make it centralized ! And in this way these exchanges are are.. shifting the the centralized part again.
One should understand that government keeps low fee when it comes to something that they control but when it comes to things like Bitcoins they are pretty biased .
They demand huge taxes .. and that's literally very sad because they are not letting these decentralized ones grow.

Nathan047

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Quote from: SonoCoin on February 12, 2018, 12:45:40 PM

Quote from: Nathan047 on February 12, 2018, 12:42:40 PM

Honestly I don't expect decentralized exchanges to ever take over day trading because of transaction fees. That's not to say I don't think they won't ever be used, but anyone who is trading on a short term basis will probably stick to centralized exchanges because of the low fees.

Perhaps if a decentralized exhcnage were to adopt a version of the IOTA's Tangle - no fee solution?

Then I'm sure they'd take off

entemeister

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Quote from: SonoCoin on February 12, 2018, 11:50:54 AM

Do you believe this will ever happen, and if so, how long?

Please select one of the options above for this poll.

Decentralized exchanges are becoming popular now , people is learning about the risks of centralized exchanges where you are not in control of your coins

Tankdestroyer

full member

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Quote from: SonoCoin on February 12, 2018, 11:50:54 AM

Do you believe this will ever happen, and if so, how long?

Please select one of the options above for this poll.

I voted 1-2 years although there are two possible outcomes. The first outcome is what I voted for and the second is never at all, since governments are focusing their sights on regulating Bitcoin and the dawn of decentralized exchanges wouldn't come to pass if it won't become mainstream for 1-2 years. For this reason, I voted it and if it didn't become mainstream by that time frame, then it will never be mainstream.

Niya

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Enhalo Mining

I voted 1-2 years because I really believe in decentralized exchanges and I'm already using some of them (especially Waves DEX). They are not so more difficult to use than traditional ones, so there's really no reason to not use them.

The only downside of complete decentralization for exchanges is fiat money deposits and withdrawals. This is something that still requires some kind of verification. But in my opinion sooner or later even this problem will be solved and everyone will be able to trade, deposit and withdraw any kind of currencies on decentralized exchanges!

Topic: How long before Decentralized Exchanges become mainstream? (Read 244 times)