Topic: How long before decentralized exchanges become maintream? (Read 145 times)

They become mainstream when decentralized exchanges are actually easy to use. Sure we have decent decentralized exchanges like EtherDelta, but boy did it take a decent amount of time for me to get used to it. What more for the new folks? They would end up being too confused about the UI/UX and end up using an alternative centralized exchange instead.

What an utter nonsense. Centralized exchanges allow people to trade on-exchange (off-chain), which hasn't anything to do with network congestion. Because of the fact that everything happens off-chain, traders love the usability that it offers since buy and sell orders can settle instantly, which isn't the case at decentralized exchanges. For that convenience reason the majority of the people will probably always prefer to trade on a centralized exchange. Don't forget that not everyone is interested in the potential decentralized nature of this market. Most of the people are simple minded and just want to get their things done as efficiently as possible, and especially when it comes to trading.

Kyber network just released their mainnet. I hope real soon because that means we don't have to rely only centralised exchange wallet anymore

I voted 1 to 2 years because I think the number of speculative investors is growing exponentially. We saw it happen last year before the crash and interest had grown so much that it has crossed over to the futures markets and the stock market. More exchanges are going to pop up and legitimate ones like Coinbase are showing huge numbers of new customers.

I hate centralized exchanges because they will verify your transactions and it will cause network congestion. However Deceentralized exchange are more feasible because transactions are very fast to acquire.

According to my instincts in the long run decentralized exchanges will rule the economy of the word as against their going to mainstream. Historically, crypto currency has paved the way for a true, decentralized network experience. But the way we buy our cryptos is almost as centralized as the way we buy and trade stocks. In a decentralized exchange, there is no third party that holds your money. You own your Ethereum or token until the moment you trade it. Centralized exchanges not only bring in institutions, but they bring in everyday people to the scene. They are very easy to use; one of the hardest things about Bitcoin to a new user is getting started. To the contrary, centralized exchanges function as a bank would. They are a third-party middleman that holds your funds within their own network. As the crypto-trading world matures many experienced users are turning to decentralized exchanges. Decentralized exchanges, however, are a bit more difficult to use. Most people who use them are experienced in the world of buying and selling . These exchanges are becoming more popular and stay true to the concept of Bitcoin and blockchain: Bitcoin, and many cryptokens, are decentralized currencies. So, it would make the most sense to use a decentralized exchange. In this kind of trade, the user owns his/her tokens in a digital wallet on their computer, and the money only leaves the user’s wallet when the trade commences. There is no need for a third party to hold the money for you, because the trade happens from user-to-user. Ethereum smart contracts and the blockchain create a “trustless escrow service,” making it the safest possible way to trade.

It mainly relies on people's financial mentality & governmental treating ie, even if people accept such kind of exchanges with welcoming chests, governments won't let this happens without grabbing out their profits ( by imposing restrictions of'em)

I don't think people will use decentralized and trustless exchanges unless someone will try to hide their trade volumes. Also if a person wants to avoid tax on crypto earning, these kind of exchanges will be an ideal place for them. Your trades won't get recorded, you won't have any profit & loss statement and no kyc details will be required. Perfect place for tax evaders.

The regulations have just started on crypto assets. It is expected be increased and the span of monitoring will also increase. You will either have to stay with the tax payers or with the tax evaders. The choice is yours and the decision on exchange usage will be heavily influenced by this factor.

 I personally don't use decentralized and trustless exchanges and won't encourage anyone to do so. I believe, it will never become mainstream because the inherent nature of the business. It is good for the underground market only.

I think it will never gonna happen since the governments are alarmed of the fast rising of the crypto currency and people are actively withdrawing a huge funds on those exchanges. Exchanges today are following the rules of the government because they were connected to any local banks.

I think we're going to have to hit the time where people from centralized exchanges lose out on enough money to the point where they're fed up with the inability of people to keep their funds safe, so they're going to get the point where decentralized exchanges are the only things that make people feel safe and that's all they're going to end up doing.

It'll take some time, though it will come at some point.

I personally think it will still take a few years to get there and reason for that is because I think people will lag behind the regulation and accept it for a while. Now this squarely hinges on when the regulation is going to come in and how heavy but if it does come in heavy in the next 2 years I would say it takes another 2 years for people to react and shift. It won't happen overnight, but hopefully it will happen eventually.

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

Please select one of the options above for this poll.