Topic: How would crypto fare without centralized exchanges? - page 7. (Read 821 times)
Better solutions will erupt before that time comes, the government wants everything under its palm but not crypto, we have DExs now but still not perfect cos they have their flaws too let's just hope that decentralisation gets stronger as time goes by.
It's probably most governments will crackdown on miners, after banning centralized exchanges altogether. But just like China, they won't be able to "destroy" crypto because of its decentralized and censorship-resistant design. People can still use crypto in China through other means. But they're going to have to do it in secret because if they're caught, it's "game over" for them. I'm glad Satoshi designed Bitcoin to be decentralized and open source, or it would've been dead by now. A centralized crypto ecosystem would make it easier for governments to destroy altogether. After all, they don't want to lose control over people's money.
Cracking down miners would be a prominent option, but I think it is pretty much pointless. And yes they will only do it as a last resort. The reason why I think it may be pointless is that noting there is a country that already made Bitcoin as a legal tender, so ideally they should keep supporting it.I wouldn't worry about this as long as crypto stay true to its roots by being a decentralized kind of money anyone can use worldwide. Just my opinion 
After all, the decentralized nature is what made peoples have power and their own control. So I do too wouldn't worry about it too much besides a few scenarios that addressed all above 
It is also most likely that governments demand more control over the centralized entities. Regarding Russia, well, the world does not tend toward the west, recently India bought Russian oil and they are still also "backed" by China. I think Russian using cryptocurrency does not have a correlation with other country banning it, surely there is a more approachable way for them to get around the sanctions.
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Fearing the investors and the traders, yes they will be. But for the people who truly make use of a decentralized currency, I don't think they have lost the meaning of using cryptocurrency. I presume the government rather crackdown on miners rather pressure centralized exchange, if their motives to total ban cryptocurrency, then they should be considering taking down the system as a whole.
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Fearing the investors and the traders, yes they will be. But for the people who truly make use of a decentralized currency, I don't think they have lost the meaning of using cryptocurrency. I presume the government rather crackdown on miners rather pressure centralized exchange, if their motives to total ban cryptocurrency, then they should be considering taking down the system as a whole.
It's probably most governments will crackdown on miners, after banning centralized exchanges altogether. But just like China, they won't be able to "destroy" crypto because of its decentralized and censorship-resistant design. People can still use crypto in China through other means. But they're going to have to do it in secret because if they're caught, it's "game over" for them. I'm glad Satoshi designed Bitcoin to be decentralized and open source, or it would've been dead by now. A centralized crypto ecosystem would make it easier for governments to destroy altogether. After all, they don't want to lose control over people's money.
No centralized exchanges means decreased adoption for crypto/Blockchain tech in the mainstream world. Perhaps, prices won't be as high as they are right now as demand for crypto will be limited. I wouldn't worry about this as long as crypto stay true to its roots by being a decentralized kind of money anyone can use worldwide. Just my opinion
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.
It is also most likely that governments demand more control over the centralized entities. Regarding Russia, well, the world does not tend toward the west, recently India bought Russian oil and they are still also "backed" by China. I think Russian using cryptocurrency does not have a correlation with other country banning it, surely there is a more approachable way for them to get around the 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.
Fearing the investors and the traders, yes they will be. But for the people who truly make use of a decentralized currency, I don't think they have lost the meaning of using cryptocurrency. I presume the government rather crackdown on miners rather pressure centralized exchange, if their motives to total ban cryptocurrency, then they should be considering taking down the system as a whole.
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?
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