Topic: Stop glorifying centralized exchanges. - page 3. (Read 737 times)
Centralized exchanges to me are the biggest single source of failure in cryptocurrency, either for the obvious disadvantage of entrusting your anonymity to a third-party (and thus to the government) or for the huge inherent risk of such exchange being a subject of a crypto heist or hack. We need to gradually migrate to decentralized exchanges, thats the future of crypto
The fiat offramps aren't very successful. They are easy to fool with mixing technology. Monero and coinjoin basically break an destroy chain analysis tech, and DEX like kyber and atomic swap are making it even easier. The only issue are American exchange like Gemini.
We are headed towards an economy where people take crypto directly. The ATM's and various websites accepting payments for goods cannot sit there and ask for an IRS audit of how the money came to be, it's impractical and won't gain traction in legislation, which means as long as you can defeat chain analysis you can spend bitcoin for good and services, and it's even easier outside the united states.
The next step that FATF is using is something cyphertrace has put out which will absolutely destroy bitcoin's immutabilty, combining proprietary backdoor wallets with smart contract attributed kyc information. It will destroy the fungibility and immutability of the bitcoin payment ecosystem and allow the government to abuse you just like it does with fiat.
People are going to have to wake up and realize they have to abandon banks and centralized exchanges if they want to maintain political freedom in a free world.
It is easy to live on crypto now and it's gonna get easier. Very little cash is needed, very little fiat, only for rent and car payments, and work is being done to create escrow and realty services to allow land to be bought with crypto. The issue is not that a realty company would want tax information, but rather the ability of banks and exchanges to reject your money or to seize it.
As land lords and larger asset saler begin to take strictly crypto it will largely pull the rug out on banks and paypal esque institutions. Regulatory arbitrage caused by crypto will simply pull the rug on American overreach.
Ultimately regular bonds and stocks and commodities will become tokenized, and pulled onto the blockchain, the clearinghouse functions of states will be taken away, the capital flow into securities will pick crypto over fiat. All states will suffer capital flight into crypto.
The cold hard reality is this was all meant to take the power away from states to control their citizens money.
We are headed towards an economy where people take crypto directly. The ATM's and various websites accepting payments for goods cannot sit there and ask for an IRS audit of how the money came to be, it's impractical and won't gain traction in legislation, which means as long as you can defeat chain analysis you can spend bitcoin for good and services, and it's even easier outside the united states.
The next step that FATF is using is something cyphertrace has put out which will absolutely destroy bitcoin's immutabilty, combining proprietary backdoor wallets with smart contract attributed kyc information. It will destroy the fungibility and immutability of the bitcoin payment ecosystem and allow the government to abuse you just like it does with fiat.
People are going to have to wake up and realize they have to abandon banks and centralized exchanges if they want to maintain political freedom in a free world.
It is easy to live on crypto now and it's gonna get easier. Very little cash is needed, very little fiat, only for rent and car payments, and work is being done to create escrow and realty services to allow land to be bought with crypto. The issue is not that a realty company would want tax information, but rather the ability of banks and exchanges to reject your money or to seize it.
As land lords and larger asset saler begin to take strictly crypto it will largely pull the rug out on banks and paypal esque institutions. Regulatory arbitrage caused by crypto will simply pull the rug on American overreach.
Ultimately regular bonds and stocks and commodities will become tokenized, and pulled onto the blockchain, the clearinghouse functions of states will be taken away, the capital flow into securities will pick crypto over fiat. All states will suffer capital flight into crypto.
The cold hard reality is this was all meant to take the power away from states to control their citizens money.
in these decentralized exchanges is it possible to buy bitcoin with debit card?
Are banks going to allow their customers to buy coins in decentralized exchange?
This is the point. Eventually all centralized exchanges will have to be licensed for all banks to do business with these exchanges, but that will not be a bad thing. on the contrary it will be very good. Imagine that if an exchange is licensed, it is inspected by the government then this exchange will have credibility to partner with many banks and allow many people buy cryptos using their bank accounts and this exchange will provide good services
Are banks going to allow their customers to buy coins in decentralized exchange?
This is the point. Eventually all centralized exchanges will have to be licensed for all banks to do business with these exchanges, but that will not be a bad thing. on the contrary it will be very good. Imagine that if an exchange is licensed, it is inspected by the government then this exchange will have credibility to partner with many banks and allow many people buy cryptos using their bank accounts and this exchange will provide good services
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 anyway 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.
There's still a way to exchange in private without the use of exchanges but people are lazy and they want to do everything fast and without moving a finger. Going to ATM is already a pain and it doesn't matter that cash transactions are anonymous they prefer to use the bank because this way they can do it lying in bed and watching TV.
This is the problem of our society. We are sacrificing our rights and our privacy for convenience.
its only the beginning of decentralized tech soon it will bomb dont worry
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 anyway 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.
There's still a way to exchange in private without the use of exchanges but people are lazy and they want to do everything fast and without moving a finger. Going to ATM is already a pain and it doesn't matter that cash transactions are anonymous they prefer to use the bank because this way they can do it lying in bed and watching TV.
This is the problem of our society. We are sacrificing our rights and our privacy for convenience.
It seems to me that we need both decentralized and centralized exchanges. Each of them has its pros and cons. In centralized exchange there is some security. But decentralized exchanges more meet the requirements of anonymity. Thus, everyone chooses for himself what exchange to use.
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,
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 anyway 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.
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.
I agree with most of his writing. However, we are obliged to use CEXs within the current system. For example, in my country, I can only buy FIAT to crypto only if I make KYC. Although stable DEX in this environment does not mean much to me. Because you'll have to use CEX to convert that crypto money back into FIAT.
why with bisq you can convert for now soon you dont need to conevrt ....passion its going to bomb soon
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.
I agree with most of his writing. However, we are obliged to use CEXs within the current system. For example, in my country, I can only buy FIAT to crypto only if I make KYC. Although stable DEX in this environment does not mean much to me. Because you'll have to use CEX to convert that crypto money back into FIAT.
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.
hell mate i waited for guys like you.....we must get rid of centralized exchanges how much account locked up with huge money inside....it will chnage soon yet how much horrible stories out there
bisq exchange grow nice and we have bots that spread bots all over the place
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.
Jump to: