I agred with your vision "satochi vision"
We need a real decentralized exchange with good platform "good technology"
Topic: Stop glorifying centralized exchanges. (Read 750 times)
More basic infrastructure change is required with the DEX, another thing error can happen anywhere. A small error could freeze a large sum of fund. In such cases it is impossible to seek support, the same with centralized exchanges will give us quick support. Just an example is the Binance exchange hack. The funds were provided back from the exchange reserve which isn't possible with DEX.
This is why it's important for the team behind the project to know what they're doing. Blocknet for instance has been around since 2014 and has spent years on research on how to properly and securely have decentralized trading. There's MANY verification checks in place as well as failsafes. The funds stay in your control throughout the duration of the exchange as well.
Back in 2015, when I first entered the cryptocurrency market, the main slogan of cryptocurrency was that the user can always be anonymous and no one can control his financial affairs. But today there are a lot of questions about centralization and decentralization that change the whole rhetoric of relative cryptocurrency and its advantages.
I couldn't agree more, which is why I'm happy to be part of the Blocknet community. All these projects are using "dex" and "atomic swaps" as marketing terms and still have centralized components. They have done a huge disservice to the ecosystem by confusing people about what true decentralization is. Then when you bring up a project like Blocknet, they say why is that needed, when project XYZ already provides a DEX. Meanwhile what they don't know is project XYZ only has one component of the exchange decentralized, such as settlement using atomic swaps, and has no idea that the exchange is custodial or uses servers for order books and order matching. So now you have great projects fighting the good fight that are being overlooked due to cheap imitations misinforming users.
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the worst part about a DEX is that its limited to a specific blockchain which doesn't allow for easy trade to get a different crypto coin...guess too many limitations to be used.
The poorly designed ones are like this. Have you given Block DX (powered by Blocknet Protocol) a try? It can trade over 100 different assets from different blockchains and trades are independent of the Blocknet blockchain. Trade time is also independent of the blockchain's block time, but trade finality is still reached on that blockchain. Unlike other suggestions here such a Bitshares, Block DX doesn't use proxy tokens or colored coins. The native assets are traded and funds remain in the user's control throughout the entire process of the trade. Unlike Komodo, you can use your own Qt wallet for verification checks instead Electrum servers. Every component of the exchange is decentralized, including capital storage (your own wallet), order books (compiled locally), order matching (p2p), and settlement (atomic swaps).
You can see a list of compatible assets for trading here:
https://docs.blocknet.co/blockdx/listings/#listed-digital-assets
there is holochain for liquidity, and now there will be lightning swap, komodo antara cross chain liquidity and interoperatbility protocols using atomic swaps, ren vm can acheive this, as can stacknet, as can blocknet, the technology for DEX liquidity is being built now
The main response people give me is that the technology doesn't exist to make a fully functional DEX, that atomic swap are too slow. It was never true and now that Ren VM has a prototype for running decentralized server functions to process the functions of the exchange it definitely isn't true. If bitcoin can use hash to verfiy the network, then hashing power can be used to run distributed servers and virtual machines as a virtual network, along with atomic swaps and regular distributed liquidity pools.
Centralized exchanges are quite literally evil. They are a failure point for cryptocurrency. If everyone has to do KYC and store their funds with state and corporate servers and give away their financial information to a financial system that is already responsible for predatory finance capitalism, then the very purpose of bitcoin has failed.
Without a working exchange that is immutable you do not have immutable money.
If the *exchange* is not immutable, then your *money* is not immutable.
Start building immutable exchange software, and for the love of god don't put your name or address on it. Do what Satoshi did.
Centralized exchanges are quite literally evil. They are a failure point for cryptocurrency. If everyone has to do KYC and store their funds with state and corporate servers and give away their financial information to a financial system that is already responsible for predatory finance capitalism, then the very purpose of bitcoin has failed.
Without a working exchange that is immutable you do not have immutable money.
If the *exchange* is not immutable, then your *money* is not immutable.
Start building immutable exchange software, and for the love of god don't put your name or address on it. Do what Satoshi did.
yes but how many DEX have large volumes at the moment ?.
everyone does not like centralized exchange. but there has not been a decentralized exchange that can support all crypto coins. the length of the transaction, makes people not like using DEX. so first make DEX that can solve this basic problem. only then can we leave the centralized exchange.
Very few people care about having a decentralized exchagnes. Over 99 percent of people are perfectly fine with using credit cards and other centralized services. There is very little money to even be made off a decentralized exchange.
a financial system that is already responsible for predatory finance capitalism, then the very purpose of bitcoin has failed.
that's the point! many in crypto don't give a f** about this. they don't understand why bitcoin was created, believe in meritocracy (and heredity at the same time lol) and have any billionaire as idol.
CEX I think isn't glorified. Its just that for anyone who wanna trade, they are best to go to CEX.
I for once wanted to trade on DEX but if my orders are not filled after few days, its almost the same thing as holding the coin in my personal wallet rather than sending it on DEX. If would be great holding it if the price is growing if not then I'd rather be going to CEX. I'm not glorifying them but its just the truth not a single DEX were able to provide liquidity even today. If there is we could have been doing a lot IEO on DEX by now.
But there re not so many good DEXes btw..
exaclty , so how can we not talk about the centralized ones
i dont i even know a dex i would put my money in to be honest.And the worst part about a DEX is that its limited to a specific blockchain which doesn't allow for easy trade to get a different crypto coin...guess too many limitations to be used.
Once I watched a documentary and the journalist said "Follow the money. It's amazing how many things it can explain". People only understand when you hit their money so when they will realize that the things aren't different with CEXs they will start to look at the DEXs.
Wait for 10 years you will the same people telling how they regret to have used CEXs all these years.
Wait for 10 years you will the same people telling how they regret to have used CEXs all these years.
no you are wrong mate
i didnt see any body want to go back to centralized tech share info from decentrliazed tech,
decentralized exchanges soon will bomb because we use mass botting to spread this over the internet,
for the only the smartest use decentralized exchanges, it like the beginning of bitcoin was there was the smartest there only until it explode.
you know what is fucking decentrlized exchange hell, its real freedom ...no body can lock your money, its much more secure relative* to centralized tech....
peer to peer mixed with disturbed tech its the last station in tech in some sort of level and i far from kidding,
always preferred or mentioned.?Most of them are centralized ones, sad to say the truth but these Cex is more preferable or convenient to use up specially on making crypto to fiat or fiat to crypto transactions.It does make contrary on the true essence of crypto but we are seeing the current reality.
Once I watched a documentary and the journalist said "Follow the money. It's amazing how many things it can explain". People only understand when you hit their money so when they will realize that the things aren't different with CEXs they will start to look at the DEXs.
Wait for 10 years you will the same people telling how they regret to have used CEXs all these years.
Wait for 10 years you will the same people telling how they regret to have used CEXs all these years.
no you are wrong mate
i didnt see any body want to go back to centralized tech share info from decentrliazed tech,
decentralized exchanges soon will bomb because we use mass botting to spread this over the internet,
for the only the smartest use decentralized exchanges, it like the beginning of bitcoin was there was the smartest there only until it explode.
you know what is fucking decentrlized exchange hell, its real freedom ...no body can lock your money, its much more secure relative* to centralized tech....
peer to peer mixed with disturbed tech its the last station in tech in some sort of level and i far from kidding,
In my personal view I would start to say that we need the decentralized and centralised exchange for more and efficient way to communicate to the entire system. We all know the important of a decentralized exchanges and should not forget that the centralise exchange too play a significant role too. I would say let we keep it balance because we new needed the tow to work together.
you so fucking wrong its like saying we need balance between decentralized peer to peer file sharing with centralized sharing, maybe you dont know the difference ....
because in everything that centralized everybody connect to the main servers without be depending on each other, which mean hackers can hack the main servers and have access to all the computers that connected to the main servers.
you just uneducated and i know this by your answer, because in centralized exchange they can lock your funds and do with this whatever they want, compare to centralized exchange where everything is in your control,
the nature it self decentralized mixed with distributed mechanism.
the help you get the idea....
before peer to peer file sharing(decentralized tech) there was centralized tech which mean there are few main servers and all the computers download from this main servers without be depending on each other mp3,music,software,movies and other....yet this time the internet not was so developed and traffic which mean if the same centralized tech was exist today , this main servers need to be so fycking powerful to hold all this computers , and the security level need to be top notch because the right worm in the main servers and you have access to all this computers which download stuff....
do you get it,
then peer to peer file sharing burn which called decentralized tech and here you dont have main servers , the servers are private computers , which mean for example,
is a different way to distribute MP3,movies,software, files. Instead of storing this info on a central computer, the songs live on users' machines.
its million times more harder for hackers to take control over this computers compare to centralized tech.
and another reason peer to peer tech burn its because governments pretty fast locate main servers and shut them down while in peer to peer tech which mean decentralized , the governments need to shut down more then 500 million private computers.
bitcoin its peer to peer money.
now apply here all what you read and its the same with exchanges...and before you post read other answers as it already mention
Indeed centralization is weakness, this also applies to those altcoins with few nodes and a large central authority with the power to even undo transactions, which is getting back to the fiat system that led the world to the economic cycles of bubbles and pops, making everyone get in debt, etc (all the Chicago dogma).
With exchange it is the same thing. Unfortunately when the exchange is touching fiat, that belongs a central authority, and its that authority that enforces its rules. For pure crypto coin exchanging you can do decentralized exchanging already.
This take us back to the main issue, which is why people isn't getting paid and pay other with crypto. The only way to cut dependency on fiat is to stop using it altogether. Exchanges exist because people insist in exchanging fiat to and from crypto.
in some sort of level i loved your answer,,,
In my personal view I would start to say that we need the decentralized and centralised exchange for more and efficient way to communicate to the entire system. We all know the important of a decentralized exchanges and should not forget that the centralise exchange too play a significant role too. I would say let we keep it balance because we new needed the tow to work together.
you so fucking wrong its like saying we need balance between decentralized peer to peer file sharing with centralized sharing, maybe you dont know the difference ....
because in everything that centralized everybody connect to the main servers without be depending on each other, which mean hackers can hack the main servers and have access to all the computers that connected to the main servers.
you just uneducated and i know this by your answer, because in centralized exchange they can lock your funds and do with this whatever they want, compare to centralized exchange where everything is in your control,
the nature it self decentralized mixed with distributed mechanism.
the help you get the idea....
before peer to peer file sharing(decentralized tech) there was centralized tech which mean there are few main servers and all the computers download from this main servers without be depending on each other mp3,music,software,movies and other....yet this time the internet not was so developed and traffic which mean if the same centralized tech was exist today , this main servers need to be so fycking powerful to hold all this computers , and the security level need to be top notch because the right worm in the main servers and you have access to all this computers which download stuff....
do you get it,
then peer to peer file sharing burn which called decentralized tech and here you dont have main servers , the servers are private computers , which mean for example,
is a different way to distribute MP3,movies,software, files. Instead of storing this info on a central computer, the songs live on users' machines.
its million times more harder for hackers to take control over this computers compare to centralized tech.
and another reason peer to peer tech burn its because governments pretty fast locate main servers and shut them down while in peer to peer tech which mean decentralized , the governments need to shut down more then 500 million private computers.
bitcoin its peer to peer money.
now apply here all what you read and its the same with exchanges...and before you post read other answers as it already mention
Indeed centralization is weakness, this also applies to those altcoins with few nodes and a large central authority with the power to even undo transactions, which is getting back to the fiat system that led the world to the economic cycles of bubbles and pops, making everyone get in debt, etc (all the Chicago dogma).
With exchange it is the same thing. Unfortunately when the exchange is touching fiat, that belongs a central authority, and its that authority that enforces its rules. For pure crypto coin exchanging you can do decentralized exchanging already.
This take us back to the main issue, which is why people isn't getting paid and pay other with crypto. The only way to cut dependency on fiat is to stop using it altogether. Exchanges exist because people insist in exchanging fiat to and from crypto.
I see nothing wrong with centralized exchange. Demanding for your kyc is just to know who you are and nothing much about it. Pioneer to that there are some countries who are not in support of bitcoin. Since its delivering what its been ask to do,we can trust and rely on it.
Well then, you are missing the critical point of Bitcoin. We aren't demanding financial privacy, instead, we should think financial privacy as a necessity and an essential thing, that we must ought to protect it. For whatever reason, the government couldn't and should not simply have a right to monitor all of our financial activity. Not to mention in the name of preventing money laundering, tax evasion, and financing of terrorism.
In my personal view I would start to say that we need the decentralized and centralised exchange for more and efficient way to communicate to the entire system. We all know the important of a decentralized exchanges and should not forget that the centralise exchange too play a significant role too. I would say let we keep it balance because we new needed the tow to work together.
you so fucking wrong its like saying we need balance between decentralized peer to peer file sharing with centralized sharing, maybe you dont know the difference ....
because in everything that centralized everybody connect to the main servers without be depending on each other, which mean hackers can hack the main servers and have access to all the computers that connected to the main servers.
you just uneducated and i know this by your answer, because in centralized exchange they can lock your funds and do with this whatever they want, compare to centralized exchange where everything is in your control,
the nature it self decentralized mixed with distributed mechanism.
the help you get the idea....
before peer to peer file sharing(decentralized tech) there was centralized tech which mean there are few main servers and all the computers download from this main servers without be depending on each other mp3,music,software,movies and other....yet this time the internet not was so developed and traffic which mean if the same centralized tech was exist today , this main servers need to be so fycking powerful to hold all this computers , and the security level need to be top notch because the right worm in the main servers and you have access to all this computers which download stuff....
do you get it,
then peer to peer file sharing burn which called decentralized tech and here you dont have main servers , the servers are private computers , which mean for example,
is a different way to distribute MP3,movies,software, files. Instead of storing this info on a central computer, the songs live on users' machines.
its million times more harder for hackers to take control over this computers compare to centralized tech.
and another reason peer to peer tech burn its because governments pretty fast locate main servers and shut them down while in peer to peer tech which mean decentralized , the governments need to shut down more then 500 million private computers.
bitcoin its peer to peer money.
now apply here all what you read and its the same with exchanges...and before you post read other answers as it already mention
In my personal view I would start to say that we need the decentralized and centralised exchange for more and efficient way to communicate to the entire system. We all know the important of a decentralized exchanges and should not forget that the centralise exchange too play a significant role too. I would say let we keep it balance because we new needed the tow to work together.
The main response people give me is that the technology doesn't exist to make a fully functional DEX, that atomic swap are too slow. It was never true and now that Ren VM has a prototype for running decentralized server functions to process the functions of the exchange it definitely isn't true. If bitcoin can use hash to verfiy the network, then hashing power can be used to run distributed servers and virtual machines as a virtual network, along with atomic swaps and regular distributed liquidity pools.
Centralized exchanges are quite literally evil. They are a failure point for cryptocurrency. If everyone has to do KYC and store their funds with state and corporate servers and give away their financial information to a financial system that is already responsible for predatory finance capitalism, then the very purpose of bitcoin has failed.
Without a working exchange that is immutable you do not have immutable money.
If the *exchange* is not immutable, then your *money* is not immutable.
Start building immutable exchange software, and for the love of god don't put your name or address on it. Do what Satoshi did.
How with DEX when BTC is always a concern to awaken all ambitions and towards autonomy of people. It is possible to count on fingers the DEX with Bitcoin. Obviously not. CEX may be a concern for the purge of the power of money in the crypto world. But are you waiting for something or go right away with CEX? Centralized exchanges are quite literally evil. They are a failure point for cryptocurrency. If everyone has to do KYC and store their funds with state and corporate servers and give away their financial information to a financial system that is already responsible for predatory finance capitalism, then the very purpose of bitcoin has failed.
Without a working exchange that is immutable you do not have immutable money.
If the *exchange* is not immutable, then your *money* is not immutable.
Start building immutable exchange software, and for the love of god don't put your name or address on it. Do what Satoshi did.
There are good working DEX and the oldest we know had been working in the past like its been there for the use of public. Dan Larimer's Bitshares were there before the Ether dexs. Ether and Forkdelta is also up and running for awhile, all their volume combined are just not enough though. Convincing people to try them will only work if their tokens are only listed to these DEX.
I see nothing wrong with centralized exchange. Demanding for your kyc is just to know who you are and nothing much about it. Pioneer to that there are some countries who are not in support of bitcoin. Since its delivering what its been ask to do,we can trust and rely on it.
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