Topic: We need decentralized exchanges - page 2. (Read 434 times)
Yes, we need decentralized exchange services. Especially today, security, error-free operation and to make fast transactions, such services should increase and enter the quality of our lives. Although this breakthrough came from the pioneering services of the sector, it has not yet received the necessary attention. On the other hand, such services are becoming more and more popular and we will be able to witness decentralized services in the coming years. Although centralized services are gaining more attention today, it seems certain that users will turn to decentralized structures and services in the future.
The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.
Decentralized can't beat the centralized exchange, they are just an option for those people who can't and don't want to use the centralized exchange for whatever reasons. But let's admit, having them in the crypto space is always a big help and it serves traders that are not serve by centralized exchanges. We are stuck in centralized because most of the famous and known exchange are CEX.
But if there would be a DEX for all crypto why wouldn't people choose it?
After all crypto is design for being decentralized for anonymity and for financial freedom to be out from those third parties .
Binance blocked certain countries from accessing the exchange and just recently IDEX has announce they'll require a KYC.
https://news.bitcoin.com/decentralized-exchange-idex-to-introduce-full-kyc/
The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.
Decentralized can't beat the centralized exchange, they are just an option for those people who can't and don't want to use the centralized exchange for whatever reasons. But let's admit, having them in the crypto space is always a big help and it serves traders that are not serve by centralized exchanges. We are stuck in centralized because most of the famous and known exchange are CEX.
But if there would be a DEX for all crypto why wouldn't people choose it?
After all crypto is design for being decentralized for anonymity and for financial freedom to be out from those third parties .
We are making both CEX and a DEX for margin trading.
after completing the above, we would make our goal to make a functioning dex that will overtake cex.
after completing the above, we would make our goal to make a functioning dex that will overtake cex.
The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.
Decentralized can't beat the centralized exchange, they are just an option for those people who can't and don't want to use the centralized exchange for whatever reasons. But let's admit, having them in the crypto space is always a big help and it serves traders that are not serve by centralized exchanges. 
There is a rumour out there saying that Binance DEX will also support margin trading. It's still a rumour but the possibility of that coming is no unthinkable. Especially after Binance CEX also support margin trading.
I never heard about DYDX but hopefully, it could prove to be a worthy competitor of Binance.
I never heard about DYDX but hopefully, it could prove to be a worthy competitor of Binance.
i'm skeptical blocknet is anywhere close to production ready code
Your username is quite fitting considering the exchange has been live and in use for over a year. The project has been around since 2014 and have pioneered a lot of R&D in the space. Unlike other projects launched in the 2017 bull run and after, Blocknet isn't another vaporware projects promising the sky and delivering nothing.
I have some questions:
Let's assume 100% of the exchanges were decentralized, how would people buy bitcoin using their debit cards?
Let's assume 100% of the exchanges were decentralized, how would people buy bitcoin using their debit cards?
decentralized exchanges can't have with real fiat inflows/outflows. they can only use decentralized assets (like bitcoin or ethereum) or tokenized assets (like tether).
if regulatory/KYC pressures become great enough, we could start seeing hawala markets emerge---secondary p2p markets for stablecoins where eg buyers pay cash for stablecoins and no fiat is moved at all. in fact, with DAI this could be done entirely without third party custody.
I have some questions:
Let's assume 100% of the exchanges were decentralized, how would people buy bitcoin using their debit cards?
And if it were possible for people to buy bitcoin with their debit cards on these decentralized exchanges, would banks not close accounts on these decentralized exchanges because they would not be demanding KYC?
For everything to work very well: governments need to create regulations that are good for cryptocurrencies, banks must be more friendly of exchange and exchanges must be more responsible and offer good quality services.
Let's assume 100% of the exchanges were decentralized, how would people buy bitcoin using their debit cards?
And if it were possible for people to buy bitcoin with their debit cards on these decentralized exchanges, would banks not close accounts on these decentralized exchanges because they would not be demanding KYC?
For everything to work very well: governments need to create regulations that are good for cryptocurrencies, banks must be more friendly of exchange and exchanges must be more responsible and offer good quality services.
The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.
it's not just about security/third party custody. it's about inability to enforce KYC. the USA is even going after bitmex now (even though USA traders have been banned there for years), apparently for allowing americans to access the site via VPN. if the american government has their way, all the biggest margin and derivatives exchanges will be forced into mandatory KYC. that could make decentralized margin trading all the more attractive.
there's definitely a big niche for this but i'm skeptical blocknet is anywhere close to production ready code. it could take several years to make this happen, even with a clunky, buggy interface.
DEX in the future will definitely be needed, and decentralization will also be of little interest because there are many news about hacking,
this is one of the trigger factors dex will be in demand later,
but maybe we should wait for the cryptocurrency to be adopted massively, so that later many people will use dex instead of centralizing exchange.
this is one of the trigger factors dex will be in demand later,
but maybe we should wait for the cryptocurrency to be adopted massively, so that later many people will use dex instead of centralizing exchange.
The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.
There are DEX's now that are much easier to use than the old etherdelta, at least for me who has been around for a while. But despite the efforts of these exchanges to improve user experience, only a small percentage of traders still uses them. Maybe because of convenience as you mentioned and also because of the lesser volume.
Developer do love such exchanges. Even if we understand the decentralized exchanges are good. it is very hard to understand from the UI of a decentralized exchange. This is my personal experience.
The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.
The developer of Blocknet actually said i n a video that he has spoken to another dex called DYDX and he would really like to incorporate margin into a DEX. The future should be 100% decentralized open source margin trading.
I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.
I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.
Jump to: