Why do these currency changes exist?

Ipwich

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Quote from: HutchZa on February 15, 2019, 12:43:15 PM

What's the point of having these here? With so many legit exchanges in the world,

That's not a problem or something to complain about, more exchange will give better option, they are getting ready for massive adoption
and to bring liquidity to traders and investors.

Quote from: HutchZa on February 15, 2019, 12:43:15 PM

why would the unofficial exchanges exist?

Confusing one, maybe you meant license or unlicensed exchange, clear this one first before I can give my comment on this.

kakonhat

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Quote from: HutchZa on February 15, 2019, 12:43:15 PM

What's the point of having these here? With so many legit exchanges in the world, why would the unofficial exchanges exist?

What do you mean by the unofficial exchanges? If you don't clear about your query then there is so hard to answer your question for all of us. I think you are saying legit exchanges mean Binance, Bittrex like so but there don't understand unofficial.

wavug

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Quote from: HutchZa on February 15, 2019, 12:43:15 PM

What's the point of having these here? With so many legit exchanges in the world, why would the unofficial exchanges exist?

Lol its like asking, why do we have have so many local stores, online stores and markets? The answer is very simple: supply and demand, some exchanges provide better conditions and services, and some worse.

jademaxsuy

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It doesn't matter if there are lots of exchange sites, In my opinion exchanges do have a problem with their site that is why people create other exchange sites that has a feature or service that the other exchange site faces. Stating that the exchange sites will run out of business but we can't predict the correct day accurately. As long as there is bitcoin the exchange sites will still remain.

CryptopreneurBrainboss

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Quote from: joniboini on February 24, 2019, 02:15:50 AM

Quote from: CryptopreneurBrainboss on February 24, 2019, 02:11:07 AM

Most of the exchange you hear of will run out of business in 5-10years time but Bitcointalk will still be around as far as bitcoin still has value that means the currency exchange board will still be around and forum member can use it to exchange their coins.

This is a bold prediction. Any reason for you to say this? Imo I can't see Binance go bankrupt.

I decided not to mention names for specific reason, just as we have coin/token running out of business so is exchange too. When I joined cryptocurrency there was nothing like binance, exchange like poloniex, bittrex etc were dominating the industry but today we have binance and other friends Grin

so nobody knows the future. The cryptocurrency exchange industry is a very competitive one, many will run out of business just like this ones {36 bitcoin exchanges that are no longer with us} this article was posted in 2015 so imagine how many other exchange have also shutdown in the pass 3years+.

As much as I appreciate the current exchanges we have today, I doubt they can restand better competitors coming with more advance technology in the near future. Even in the decentralized exchange industry you'll notice this also, take EtherDelta as an example who still uses it when you can use IDEX and other better options.

slackcryptoz

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Exchanges come into existence with different features, as cryptocurrency is growing higher and higher the need for exchange has existed. Different exchanges have different trading pairs and different tokens, coins listed to the exchanges. Here very few grow legitimately while majority doesn't have good trading volume.

joniboini

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Quote from: HutchZa on February 15, 2019, 09:46:38 PM

> This unofficial currency exchange <
With so many legit exchanges in the world, why would the unofficial ones exist?
1. Binance
2. Cex.io
etc.

I'm seriously confused which one you call official and which one you call unofficial exchanges. Who can determine which one is official or not anyway? Bitcoin can be traded anywhere, you can even make your own exchange if you want. It's the same as if you build your own electronic store.

Quote from: CryptopreneurBrainboss on February 24, 2019, 02:11:07 AM

Most of the exchange you hear of will run out of business in 5-10years time but Bitcointalk will still be around as far as bitcoin still has value that means the currency exchange board will still be around and forum member can use it to exchange their coins.

This is a bold prediction. Any reason for you to say this? Imo I can't see Binance go bankrupt.

CryptopreneurBrainboss

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Quote from: HutchZa on February 15, 2019, 12:43:15 PM

What's the point of having these here? With so many legit exchanges in the world, why would the unofficial exchanges exist?

Bitcointalk is older than most of those exchange you call legit, I can't verify if the currency exchange board was a board on Bitcointalk from the very beginning but I know most exchange were carried out on the forum before those centralized exchange even thought of coming into existence.

The reason we have exchange board here on forum, was for member to exchange their coins easily since there was no exchange for that but now it involved to bypass KYC and exchange bitcoin P2P easily. Most of the exchange you hear of will run out of business in 5-10years time but Bitcointalk will still be around as far as bitcoin still has value that means the currency exchange board will still be around and forum member can use it to exchange their coins.

r1s2g3

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Quote from: HutchZa on February 15, 2019, 09:46:38 PM

With so many legit exchanges in the world, why would the unofficial ones exist?

1. Binance
2. Cex.io

etc.

They might be good but they will not serve your purpose if you are doing a transaction for a few bucks only. They have deposit limit . withdraw limits and top of it you need to follow their rules.
In Currency exchange board , I guess you can get flexibility and negotiate the terms and conditions.

bigmaster23

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Quote from: HutchZa on February 15, 2019, 12:43:15 PM

What's the point of having these here? With so many legit exchanges in the world, why would the unofficial exchanges exist?

It is peer to peer exchange where people can do the exchange with low fees. Also there are many sites but there is a little chance to get, skrill, neteller, perfect money, paypal etc. And also on exchange there are many restrictions which can be avoided here.

Noa_Amable

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Quote from: legendster on February 19, 2019, 05:24:38 PM

Quote from: asche on February 15, 2019, 01:20:58 PM

What are you even talking about?

Could you be any less specific?

He can't be any less specific because he wasn't at all specific in the first place.
However, I think he's talking about OTC / p2p exchanges between members of the forum here through this section. A common question every newb might ask.

The answer to which is a little more complicated.
Some do it for privacy reasons, some for speed, some for preference and some do it as defiance. Any exchange, is still a form of centralization of crypto and in many cases, fiat funds, this goes against the decentralized ethos of many old crypto lovers.

yes, probably he means this section at forum for currency exchange.
well, I guess this is absolutely useless thing nowadays

legendster

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Quote from: asche on February 15, 2019, 01:20:58 PM

What are you even talking about?

Could you be any less specific?

He can't be any less specific because he wasn't at all specific in the first place.
However, I think he's talking about OTC / p2p exchanges between members of the forum here through this section. A common question every newb might ask.

The answer to which is a little more complicated.
Some do it for privacy reasons, some for speed, some for preference and some do it as defiance. Any exchange, is still a form of centralization of crypto and in many cases, fiat funds, this goes against the decentralized ethos of many old crypto lovers.

jrrsparkles

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We are the one discussint here,but OP? HMMMMPPPP.... Huh

New exchanges also might have KYC if they don't have any verification then it will make me suspicious and I won't go for big trades there chances of scam is high there.

Oasisman

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Quote from: jrrsparkles on February 16, 2019, 08:31:27 AM

Quote from: asche on February 16, 2019, 07:05:30 AM

Quote from: HutchZa on February 15, 2019, 09:46:38 PM

What's the point of having these here? With so many legit exchanges in the world, why would the unofficial exchanges exist?

Still no clue what you are talking about.

Can't you provide some links or something?

I think he is asking about Currency exchange section of bitcointalk,

OP this is not an exchange,this is olace where you can find buyers and sellers on your own and convert your crypto currencies on your desired format,but the chance of getting scammed while trading personally is high so you need to use escrows.

You made a good point, but it could also mean an untrusted or new exchanges. As we can see above, he dropped in his comment, some of the few trusted exchanges that majority is using. I guess the reason why there are these new exchanges today, because almost all of the trusted exchanges has applied the KYC verification , which is a conflict of interest and purpose for cryptocurrency. These new exchanges offers no KYC verification in order for them to take an edge to those that existed already.

Bonsaiav

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I think, what he means is why there's a currency whose value can change (fluctuating), and this is clear aimed at cryptocurrency especially bitcoin.

As we know, bitcoin's the same as Dollar, Pound Sterling, Yuan, or other currencies but only exists in the digital world. To this day the existence of bitcoin is still proven to be better than conventional currencies created by the government.

I think bitcoin is a more appropriate media for Banking and Finance than paper currencies supported by the central bank, especially for people who do not have small-scale bank accounts and trade between countries.

In my opinion bitcoin is a more appropriate media for Banking and Finance than paper currencies supported by the central bank, especially for people who do not have bank accounts, or for small-scale traders between countries.

There may be some that are not official, but as long as they can guarantee and provide security / comfort for the crypto existence of their customers, I don't think that's a problem and also need not be exaggerated.

jrrsparkles

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Quote from: asche on February 16, 2019, 07:05:30 AM

Quote from: HutchZa on February 15, 2019, 09:46:38 PM

What's the point of having these here? With so many legit exchanges in the world, why would the unofficial exchanges exist?

Still no clue what you are talking about.

Can't you provide some links or something?

I think he is asking about Currency exchange section of bitcointalk,

OP this is not an exchange,this is olace where you can find buyers and sellers on your own and convert your crypto currencies on your desired format,but the chance of getting scammed while trading personally is high so you need to use escrows.

asche

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Quote from: HutchZa on February 15, 2019, 09:46:38 PM

What's the point of having these here? With so many legit exchanges in the world, why would the unofficial exchanges exist?

Still no clue what you are talking about.

Can't you provide some links or something?

Awesomus Maximus

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You can ask the same for the altcoins, for example. What's the point of the alctoins when we have bitcoin? The answer is the same. Everyone has the right to create a new altcoin or a new currency exchange. Who is to say that we only need the official currency exchanges. It's a free market, everyone is free to make up his own thing and compete with the others. People do that for various reasons but I suspect there is one obvious reason - to try to make money.

Rambotnic

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People do not want to share personal details about them.
People looking to exchange without KYC.
And consider we do have high trusted escrows, i don't see nothing wrong.
Also based on the reports against most of the exchanges, we need more "unofficial" exchanges than those websites.

HutchZa

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What's the point of having these here? With so many legit exchanges in the world, why would the unofficial exchanges exist?

What's the point having these here?

> This unofficial currency exchange <

With so many legit exchanges in the world, why would the unofficial ones exist?

1. Binance
2. Cex.io

etc.

Topic: Why do these currency changes exist? (Read 291 times)