Topic: How would crypto fare without centralized exchanges? - page 6. (Read 821 times)
Decentralized exchanges act as an alternative to centralized exchanges and allow you to remain anonymous when trading. Given the fact that DEX has already implemented almost all the services that are available on CEX, if centralized exchanges are banned, almost nothing will change for the trader, but the state will lose control over them.
Personally, I always appreciate the important role of CEXs in this area. It seems to be the tools that lead users to the market more. After many years of operation, I still see this as unchanged. The diversity in this space leaves us with more options, but the influence of CEX is a very obvious one. I believe that some of the investment behaviors of many people are based on information navigation from CEX. Those of us who came to this market before had only a few options to be able to buy crypto, so the influence The effect is huge here.
If you are talking about simply buying cryptocurrency to then store it in your personal wallet, there is not much difference between buying on a centralised or decentralised exchange. And if you're talking about additional trading tools like leveraged margin trading or futures, DEX is still very much behind CEX. But I think that will be corrected with time. There used to be no DEX at all, but now there is a huge range of them.
Personally, I always appreciate the important role of CEXs in this area. It seems to be the tools that lead users to the market more. After many years of operation, I still see this as unchanged. The diversity in this space leaves us with more options, but the influence of CEX is a very obvious one. I believe that some of the investment behaviors of many people are based on information navigation from CEX. Those of us who came to this market before had only a few options to be able to buy crypto, so the influence The effect is huge here.
I don’t think so. I think that the government are starting to know that without centralised exchanges that their power on cryptocurrency community is useless. If the government decides to ban cryptocurrency, and stop centralized exchanges it might affect the market for a short time because mostly people who are newbies in the market will be confused as to how to go about it.
Some people don’t know how to make use of decentralized exchanges, so they tend to go for centralized exchanges like coinbase.com which offers them simplicity. But, as time goes on they will get to learn how decentralized exchanges and wallets works and then they will all get back and the cryptocurrency community will start blooming again while the government is left in the dark.
And the government wouldn’t like to experience such so they will still want centralized exchanges to continue and would want everybody to make use of centralized exchanges so that they will be able to control the crypto-currency market.
Some people don’t know how to make use of decentralized exchanges, so they tend to go for centralized exchanges like coinbase.com which offers them simplicity. But, as time goes on they will get to learn how decentralized exchanges and wallets works and then they will all get back and the cryptocurrency community will start blooming again while the government is left in the dark.
And the government wouldn’t like to experience such so they will still want centralized exchanges to continue and would want everybody to make use of centralized exchanges so that they will be able to control the crypto-currency market.
Certainly, centralized exchanges could not do the business without the approval of the government where they are operating. Now, in case the government will make centralized exchanges as illegal then certainly confidence of the people with cryptocurrency can be affected greatly...as only a small percentage of those who are into crypto will persist when they know there can be some big risks involved and we are witnessing this right now in China that though there are those who are doing business in crypto they are gone underground. However, it does not mean the end of cryptocurrency and the good news is that many governments are getting to be open-minded to cryptocurrency though they are into highly regulating everything on the industry.
Regulators are more worried of centralized exchanges now since majority of them still refuses to block Russian customers but it remains unlikely that there will be a unilateral ban.
Just like on what Binance did on where it do refuses on blocking Russian users into the platform and into the point that most government would banning or blocking or closing centralized exchange thenI think it’s quite clear that without the big, well known, centralised exchanges then crypto wouldn’t be as successful & mainstream as it currently is.
What's even more clear to me is early users made these centralized exchanges to what they are today. It will be these same users who can make decentralized exchanges big enough when that complete ban on CEX comes.it would be still surely on a big debate or long due process for it to happen and if it does then we do have DEX around which we could make use of and of course there are various ways
on making out conversion without touching or needing on what these CEX is giving out but honestly i dont stress out myself about these probabilities.
Regulators are more worried of centralized exchanges now since majority of them still refuses to block Russian customers but it remains unlikely that there will be a unilateral ban.
I think it’s quite clear that without the big, well known, centralised exchanges then crypto wouldn’t be as successful & mainstream as it currently is.
What's even more clear to me is early users made these centralized exchanges to what they are today. It will be these same users who can make decentralized exchanges big enough when that complete ban on CEX comes. 
Some country had legalised the bitcoin in many mode.China legalised before and many people had invested on mining in crypto mining.After some years government of China had come to know they was second on crypto mining setup.Then China had stopped the mining,it impacts the huge difference in 2018 in the bitcoin price.
in the past China be biggest mining farm so they have huge power to controll price by spreading fud to market. several times market crash due too many negative news come from China. But fortunately they banned bitcoin and crypto market so market become more decentralized again while miner spread to abroad. at that moment CHina have no more power again to fud market.I understand CEX offers a great services but we have no choice but to look for alternatives if many countries will ban CEX, we are still lucky that some DEX are able to compete with those CEX so for sure they are the next option and DEX will rise more if this will happen. Governments are really unpredictable, they have the power to control CEX so we should always have the second option and never put big money on CEX to avoid problems like this.
i see many government become more friendly to crypto market and CEX. banning CEX will not give them benefits, their citizen will lose their money and also they will loose income potency from this market.i believe it is good that China is already out of the picture but there are still miners from china. and regarding CEXs, where the OP mentioned that maybe russians will use it to avoid sanctions, if the government is indeed strict about it. these exchanges can just freeze or not accept russian accounts. but they can still operate. they are just prohibiting russians to use their services. and with regards to the use of CEXs, just don't store good amount of money on their platform. better secure it in your wallet. so if something happens, your funds are with you.
I understand CEX offers a great services but we have no choice but to look for alternatives if many countries will ban CEX, we are still lucky that some DEX are able to compete with those CEX so for sure they are the next option and DEX will rise more if this will happen. Governments are really unpredictable, they have the power to control CEX so we should always have the second option and never put big money on CEX to avoid problems like this.
Will that mean the end of crypto for good (even though it would still be possible to get some crypto through decentralized exchanges)? After all, most people will be afraid of using crypto if it's declared "illegal".
There is a difference between banning Cryptocurrencies and banning Centralized Exchanges. But in both situations, what happens is a big chunk of the users will go away and there will be a specific part of them which will continue to use Bitcoin with Decentralized Exchanges, Peer to Peer transactions et cetera. Cryptocurrencies would however NOT die. I really doubt they would. Maybe all of them except a few, but Bitcoin definitely would not become obsolete.Think of what Bitcointalk looked like a decade ago. This is how I would see Bitcoin in the situation where Centralized Exchanges are torn apart. If Cryptocurrencies are declared illegal, they may just continue to thrive in the underground markets.
-
Regards,
PrivacyG
Yes, yes and yes.
In early-stage on "Bitcoin" almost all-transaction is from user to user that's mean we are not using centralized exchange because at that time we don't have it any. Escrow is the one solution, or some decentralized service who can connected buyer & seller directly.
The only problem of this case is trust issue, that's all.
In early-stage on "Bitcoin" almost all-transaction is from user to user that's mean we are not using centralized exchange because at that time we don't have it any. Escrow is the one solution, or some decentralized service who can connected buyer & seller directly.
The only problem of this case is trust issue, that's all.
I think it’s quite clear that without the big, well known, centralised exchanges then crypto wouldn’t be as successful & mainstream as it currently is. Governments would probably have cracked down & shut down exchanges that didn’t comply with their annoying KYC & AML rules.
There will be a consensus that everyone wouldn't care if the exchange is licensed or not. As long as they've got the reputation and they've been there operating genuinely, there's the chance that despite declaring ban on exchanges and crypto, still, there will be a lot of them in existence.
This is a free market after all, a decentralized market for which no country can cease its existence. So no matter what happens, there will always be the solution with these bans.
This is a free market after all, a decentralized market for which no country can cease its existence. So no matter what happens, there will always be the solution with these bans.
If crypto becomes extremely popular in the future (widely adopted by a vast majority of people worldwide), it's probable governments will turn against it. They can pressure centralized exchanges to close up shop or face serious consequences in the long run. After all, these exchanges are the on and off ramps from the crypto world to the Fiat world. While not every country is against crypto, they might change their stance once they see Russia using it as a means to avoid sanctions.
Imagine if most countries unilaterally agree on banning centralized exchanges for good. Will that mean the end of crypto for good (even though it would still be possible to get some crypto through decentralized exchanges)? After all, most people will be afraid of using crypto if it's declared "illegal". The ban of centralized exchanges will surely topple crypto prices, signaling fear among investors and traders alike.
What are your thoughts?
Imagine if most countries unilaterally agree on banning centralized exchanges for good. Will that mean the end of crypto for good (even though it would still be possible to get some crypto through decentralized exchanges)? After all, most people will be afraid of using crypto if it's declared "illegal". The ban of centralized exchanges will surely topple crypto prices, signaling fear among investors and traders alike.
What are your thoughts?
I don't know, if this happens then there could be a huge influx of CEX moving to a friendly crypto countries. I think this will be the only solution of countries started to banned them. I mean it's going to be very difficult to stop crypto, every one is trying to get on-board including countries. So I doubt that "unilaterally" there will be such a ban.
Besides, crypto is decentralized, the only way to stop it, is to cut the internet around the world, which is not going to happen unless we are in a world war or something really happen like huge earthquakes.
If crypto becomes extremely popular in the future (widely adopted by a vast majority of people worldwide), it's probable governments will turn against it. They can pressure centralized exchanges to close up shop or face serious consequences in the long run. After all, these exchanges are the on and off ramps from the crypto world to the Fiat world. While not every country is against crypto, they might change their stance once they see Russia using it as a means to avoid sanctions.
Imagine if most countries unilaterally agree on banning centralized exchanges for good. Will that mean the end of crypto for good (even though it would still be possible to get some crypto through decentralized exchanges)? After all, most people will be afraid of using crypto if it's declared "illegal". The ban of centralized exchanges will surely topple crypto prices, signaling fear among investors and traders alike.
What are your thoughts?
When people are having cryptocurrencies because they want to avoid the use of fiat they why they have to convert their cryptocurrencies to fiat anymore they can simply transact via cryptocurrencies itself right.Imagine if most countries unilaterally agree on banning centralized exchanges for good. Will that mean the end of crypto for good (even though it would still be possible to get some crypto through decentralized exchanges)? After all, most people will be afraid of using crypto if it's declared "illegal". The ban of centralized exchanges will surely topple crypto prices, signaling fear among investors and traders alike.
What are your thoughts?
Anyway if all the centralized exchanges are banned still the decentralized exchanges and p2p may work probably from El Salvador even centralized exchange as well.
I think Centralized exchange is the core of the community on the world side, however the government will not be able to curb people freedom to keep using crypto, maybe crypto will fall in price if the government imposes a ban to centralized exchanges. However, this situation may not be happen because the government is there for the people, not the people for the government. Although the future no one knows but as far as I know the government can't raise its his wish to make the people unhappy.
Some country had legalised the bitcoin in many mode.China legalised before and many people had invested on mining in crypto mining.After some years government of China had come to know they was second on crypto mining setup.Then China had stopped the mining,it impacts the huge difference in 2018 in the bitcoin price.
If crypto becomes extremely popular in the future (widely adopted by a vast majority of people worldwide), it's probable governments will turn against it. They can pressure centralized exchanges to close up shop or face serious consequences in the long run. After all, these exchanges are the on and off ramps from the crypto world to the Fiat world. While not every country is against crypto, they might change their stance once they see Russia using it as a means to avoid sanctions.
Imagine if most countries unilaterally agree on banning centralized exchanges for good. Will that mean the end of crypto for good (even though it would still be possible to get some crypto through decentralized exchanges)? After all, most people will be afraid of using crypto if it's declared "illegal". The ban of centralized exchanges will surely topple crypto prices, signaling fear among investors and traders alike.
What are your thoughts?
Imagine if most countries unilaterally agree on banning centralized exchanges for good. Will that mean the end of crypto for good (even though it would still be possible to get some crypto through decentralized exchanges)? After all, most people will be afraid of using crypto if it's declared "illegal". The ban of centralized exchanges will surely topple crypto prices, signaling fear among investors and traders alike.
What are your thoughts?
To be honest i think if that ban would have occured like 2 years ago then this could have potentially been the end for the whole crypto space because back then there were no real Dexes yet, except one on the ETH network which name if have forgotten at the moment but i also remember that the functionality of that DEX was by far not as good as it is today.
That is also the reason why i think that a ban of centralized exchanges would not really be the end of crypto anymore today because just take a look at how many Dexes we have out there now already there are at least a few to chose from for basically each relevant blockchain out there. So the trading could continue.
If crypto becomes extremely popular in the future (widely adopted by a vast majority of people worldwide), it's probable governments will turn against it. They can pressure centralized exchanges to close up shop or face serious consequences in the long run. After all, these exchanges are the on and off ramps from the crypto world to the Fiat world. While not every country is against crypto, they might change their stance once they see Russia using it as a means to avoid sanctions.
Imagine if most countries unilaterally agree on banning centralized exchanges for good. Will that mean the end of crypto for good (even though it would still be possible to get some crypto through decentralized exchanges)? After all, most people will be afraid of using crypto if it's declared "illegal". The ban of centralized exchanges will surely topple crypto prices, signaling fear among investors and traders alike.
What are your thoughts?
If centralised exchanges are banned, i am very sure that founders of these centralized exchanges themselves would create decentralised exchanges which could work much better than or atleast at par with the centralised exchanges of today. The only problem that decentralised exchanges face is the volume and fees, volume problem will automatically get solved if centralised exchanges are ban and fees problem can be solved by using a coin with low fees. Imagine if most countries unilaterally agree on banning centralized exchanges for good. Will that mean the end of crypto for good (even though it would still be possible to get some crypto through decentralized exchanges)? After all, most people will be afraid of using crypto if it's declared "illegal". The ban of centralized exchanges will surely topple crypto prices, signaling fear among investors and traders alike.
What are your thoughts?
Decentralized exchanges are still heavily restricted, but if centralized exchanges close completely, then developers will focus on developing and promoting the entire decentralized exchange to in line with market needs.
But the hypothesis that the entire CEX is banned is almost impossible. Instead of the government against, the government will make strict regulations or through CEX the government can control our transactions.
If crypto becomes extremely popular in the future (widely adopted by a vast majority of people worldwide), it's probable governments will turn against it. They can pressure centralized exchanges to close up shop or face serious consequences in the long run. After all, these exchanges are the on and off ramps from the crypto world to the Fiat world. While not every country is against crypto, they might change their stance once they see Russia using it as a means to avoid sanctions.
Imagine if most countries unilaterally agree on banning centralized exchanges for good. Will that mean the end of crypto for good (even though it would still be possible to get some crypto through decentralized exchanges)? After all, most people will be afraid of using crypto if it's declared "illegal". The ban of centralized exchanges will surely topple crypto prices, signaling fear among investors and traders alike.
What are your thoughts?
If centralised exchanges are banned, i am very sure that founders of these centralized exchanges themselves would create decentralised exchanges which could work much better than or atleast at par with the centralised exchanges of today. The only problem that decentralised exchanges face is the volume and fees, volume problem will automatically get solved if centralised exchanges are ban and fees problem can be solved by using a coin with low fees. Imagine if most countries unilaterally agree on banning centralized exchanges for good. Will that mean the end of crypto for good (even though it would still be possible to get some crypto through decentralized exchanges)? After all, most people will be afraid of using crypto if it's declared "illegal". The ban of centralized exchanges will surely topple crypto prices, signaling fear among investors and traders alike.
What are your thoughts?
Jump to: