Topic: Why not decentralized exchange..? - page 4. (Read 1592 times)
Yeah, I notice that also, majority of the people I know including myself wants decentralization but most of us used centralized exchanges, Maybe because centralized exchanges have more coins listed on it with more volume and easy to trade and gain profit at a fast pace, orders are executed immediately unlike on DEX sometimes your orders are stock in there for hours. The only thing which I think is good about DEX is, it is safer because the funds are just stored on our wallet.
DEX's are way safer to use in any aspect, but takes time to get used to. The advantage is you don't need to send your money anywhere, at least not if you trade through the BLOCK DX Exchange. Soon their Litewallet will be ready, meaning you can trade without syncing chains on your own, which will be way more user friendly for everyone.
There's more info on the DEX itself right here for anyone interested: https://blockdx.com/
There's more info on the DEX itself right here for anyone interested: https://blockdx.com/
In my opinion decentralized is one of the great reason that people love or apriciate bitcoin. I know there is many things too but its not about that or bitcoin. I am not too much experience able person in crypto world but with all my little experience i understand that people want a good project which is decentralized. But my question is then why we don't accept properly decentralized exchange..?
There is many point that people should trade in decentralized exchange. But what is the problem that every time decentralized exchange failed to stand up..? Was it us who don't show much interest about it or it's the outhority who didn't provide to us properly..? Is there any chance that decentralized exchange will stand up..?
Please share your thoughts.
I think the main reason why almost all of traders including whales is because of the convenience and services that centealized exchanges give to its users. They kinda prefer to pay more for someone's service as it doesn't make much difference. There is many point that people should trade in decentralized exchange. But what is the problem that every time decentralized exchange failed to stand up..? Was it us who don't show much interest about it or it's the outhority who didn't provide to us properly..? Is there any chance that decentralized exchange will stand up..?
Please share your thoughts.
The other reason is that the infrastructures of decentralized exchange isn't doesn't satisfy it's users very well. Some users also consider it complicated to used though.
Think DEX are useful only to change good altcoin with low fees but most of them don’t have lot of trading volume, so there are cons and pros for every system but i wish in future we can use only decentralized exchange bevause with them we have the right control on the coins
They can control the coin properly but these currencies lose their place as currency prices fall In my opinion the decentralized exchange site is good. They are not under anybody's control However because of the low price of coins decentralization is not exchanged.
Lets not deceive ourselves if we truly want the best for the industry.
Truth is, and I know because I've asked. The less people actually use Bitcoin, the less people actually believe in Bitcoin and the more they see crypto as a purely speculatory asset, the less they actually want things to be decentralized.
People still want to be protected. They want to be comforted. They want to go to bed at night thinking that some big corporate or state entity is benevolent and takes care of their funds for them. And how not to be comforted especially in times of crisis when states start handing out care packages and stimulus money?
Sad, but true. CEX will be their preferred way for a long, long time.
Probably most decentralize exchange fails in comparison with a centralize one because it lacks it features and convenience and mostly has tons of feature like withdrawal and deposits and most insecure and vulnerable to attacks. In fact and i've seen decentralize exchange becoming a target by hackers and mostly news in cointelegraph.
That is without a doubt one of the most important reasons, the moment we have a decentralized exchange with most of the features and ease of use that centralized exchanges have then that DEX will see a lot of users coming to its platform, but another issue is the lack of volume, if we compare the volume of a centralized exchange and a decentralized exchange there is a huge difference and any trader that has a decent amount of capital cannot really use a DEX even if he wants to do it. 
Probably most decentralize exchange fails in comparison with a centralize one because it lacks it features and convenience and mostly has tons of feature like withdrawal and deposits and most insecure and vulnerable to attacks. In fact and i've seen decentralize exchange becoming a target by hackers and mostly news in cointelegraph.
There is a mane problem to use a centralized exchange is KYC verification. One the other hand we could face a problem at any time about an account issue. Such as, I faced a problem when my Gmail account was disabled by Google. To proof me the centralized took almost one month time. However, I always like to trade in a decentralized exchange if possible. But We can't see any popular decentralized exchange according the volume which we we can in a centralized exchange.
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To answer your question directly, I don't think we have had any true decentralized exchange that doesn't have feature of centralized operation so you don't have to blame the commuywhwn we reject this exchanges popping up every now and then. We want decentralized exchange that are actually decentralized and not centralized piece of shit claiming to be decentralized.
If you observe carefully, over the last 3years, many exchanges have succeeded in deceiving many newbies into thinking they're actually using a decentralized system and suddenly get slammed with different limit associated with centralized exchanges like their geographical region getting banned or KYC verification to access their funds etc. When a system is truely decentralized, it won't require any third party system to function effectively. Lets not deceive ourselves if we truly want the best for the industry.
If you observe carefully, over the last 3years, many exchanges have succeeded in deceiving many newbies into thinking they're actually using a decentralized system and suddenly get slammed with different limit associated with centralized exchanges like their geographical region getting banned or KYC verification to access their funds etc. When a system is truely decentralized, it won't require any third party system to function effectively. Lets not deceive ourselves if we truly want the best for the industry.
In my opinion, many posts have already been written on the topic of decentralized exchanges, most of which are devoted to the problems that are currently present in this environment.
As you know, the biggest of the problems with this type of exchange is the problem with liquidity, as well as speed.
Of course, I understand that such exchanges are the safest, but the difficulty lies in the fact that the user must not be mistaken when choosing a site so as not to get to the phishing link of the clone site.
Due to the fact that detailed exchanges can ask for private keys or a wallet connection separately, all this increases the complexity of interacting with the DEX exchange for ordinary users who do not want additional and time-consuming to understand all the intricacies of the system.
As you know, the biggest of the problems with this type of exchange is the problem with liquidity, as well as speed.
Of course, I understand that such exchanges are the safest, but the difficulty lies in the fact that the user must not be mistaken when choosing a site so as not to get to the phishing link of the clone site.
Due to the fact that detailed exchanges can ask for private keys or a wallet connection separately, all this increases the complexity of interacting with the DEX exchange for ordinary users who do not want additional and time-consuming to understand all the intricacies of the system.
People have a question in their mind how an exchange can be truly decentralized because they need someone to create the site and run them and many dexs are not completely decentralized since in the past we had witnessed many hacks on DEX as well.So people trust a centralized one which got more volume and security.
Speed is actually not as big of a problem as people may think, the biggest problem right now looks like the liquidity and the volume.
When you are in an exchange that is decentralized and the whole volume is 200 bucks, why are you even there? Nobody would want something like that and people eventually move towards something more crowded. Think about it on a centralized exchange the volume would be 600k of the same coin and there is about a 10 million dollars in orders total, same coin has like 2k volume and 50k orders in total at the dapp one, why would you prefer the dex version?
This is literally the only reason why dex doesn't work. How could it work? A dex would be created with millions of dollars in marketing would actually solve this, that way you can have more known and trusted website.
When you are in an exchange that is decentralized and the whole volume is 200 bucks, why are you even there? Nobody would want something like that and people eventually move towards something more crowded. Think about it on a centralized exchange the volume would be 600k of the same coin and there is about a 10 million dollars in orders total, same coin has like 2k volume and 50k orders in total at the dapp one, why would you prefer the dex version?
This is literally the only reason why dex doesn't work. How could it work? A dex would be created with millions of dollars in marketing would actually solve this, that way you can have more known and trusted website.
Think DEX are useful only to change good altcoin with low fees but most of them don’t have lot of trading volume, so there are cons and pros for every system but i wish in future we can use only decentralized exchange bevause with them we have the right control on the coins
decentralized is a little difficult to use, while centralized is easy to use. I think this is the only reason for which there is not much volume.
Usage difficulty is again subjective. Some advanced users are comfortable with the tits bits and like to use every option to vary their trades for the sake of experimentation. Though every UI seems difficult at the first time use, it grows on you with time.Quote
You know how important the user interface is
Even with a poor interface a CEX can be run easily. BTCAlpha is a mediocre design exchange but it is enough to do the trades while going to Etherdelta for the first time will be hectic for the trader. These things get better with usage from that person and not important when comparing CEX with DEX. The bigger question is the trust issue of DEXs and shutting down of DEX on exit scams - what happens to the money which was on site's wallets then? 
I think the only reason not to have a decentralized exchange is that it would not be under the control of anyone in exchange Not everyone can act like this. If it goes completely under the control of the government, a centralized exchange is much better and easier than decentralized exchange Concentration exchanges will gain a lot of popularity as they try to stop it through various hype.
Centralized exchanges, as a rule, are processes of private businesses, and not state structures. Of course, any private business, if necessary, will be obliged to obey state structures and suspend its activities, which greatly increases the risks of using centralized exchanges without registration or registered in a country with a difficult status of cryptocurrencies.
Decentralised exchanges do exist but despite they are not popular among traders because the transaction time is not quick at all, and imagine for a second that you want to buy/sell at a specific time while the market is still favourable, having low transaction speed/rate would therefore be a problem because by the time the order gets executed the market might have changed. One factor regulating or determining how fast these transactions happed is the low volume available on these exchanges which again comes back to there not being many users. The way I see it, this is a circularised problem
That's the point, the timetable for the transaction being executed, it takes time to get traders to jumped in and start buying or selling assets. You have to wait for sometime before you get results from your position. Unlike centralized exchange where more people are dealing with thier investment. 
Decentralised exchanges do exist but despite they are not popular among traders because the transaction time is not quick at all, and imagine for a second that you want to buy/sell at a specific time while the market is still favourable, having low transaction speed/rate would therefore be a problem because by the time the order gets executed the market might have changed. One factor regulating or determining how fast these transactions happed is the low volume available on these exchanges which again comes back to there not being many users. The way I see it, this is a circularised problem
I read most of your post and here some points that maximum person think those are the main reasons for decentralized exchange failed to stand up every time.
- Don't have enough volume for active traders.
- Not mobile friendly.
- Speed of transactions.
- Problem with liquidity.
- Not too much popular than centralized exchange.
- Trust issue.
- Take time to load.
- UI Design.
- Difficult to understand for newbie traders.
- Control of their asset maybe a bit lazy.
I guess developers should working on those point if they want to improve decentralized exchange platform for the future. For me specially top five points (marked by red color) are too much important to create an advance decentralized exchange for traders.
- Don't have enough volume for active traders.
- Not mobile friendly.
- Speed of transactions.
- Problem with liquidity.
- Not too much popular than centralized exchange.
- Trust issue.
- Take time to load.
- UI Design.
- Difficult to understand for newbie traders.
- Control of their asset maybe a bit lazy.
I guess developers should working on those point if they want to improve decentralized exchange platform for the future. For me specially top five points (marked by red color) are too much important to create an advance decentralized exchange for traders.
Low Volume is more is probably the biggest. I'm willing to use different DEX as I do from TRXmarket to NEWdex to etherdelta, its just that even if you combined all the volme is not enough to match one centralize exchange. There seem to have more users today with blocknet which I think this might just be the first that many will be using. Been using waves DEX since 2017 but gradually stopped too but will probably do with blocknet serious volume will be accumulated.
Yes, your orders will be freaking stuck for a long time.
Who want that?
What choice will you have afterwards?
Of course it is just to go with the flow. Join them in transferring to a centralized exchange rather than waiting there for someone to buy or sell your orders. Also, I see traders who are playing with the price.
Making small orders just so to look like it has a great value or a decreased one.
problem of yours- the lesser the volume/activity the longer the wait for you orders to be filled which do really sucks. On centralized exchange its still the same but it isnt
really that an issue yet you can see the activeness or the numbers of traders which are trading on a particular coins youve been trading so it isnt a problem.
Next is UI, it isnt really that friendly if i were to say.
Etherdelta and forkdelta has a bad GUI, it took hours before I got use to it. There was a time that I got some tokens to sell and its just them that listed this token which I got from bounty campaign. I expect the price to be higher but buy orders weren't really enough. Orders where traders will just buy 1 token for 0.0002ETH and few buy orders down is where someone wanna buy 0.00000001ETH per token. Good thing its P2p
There are some decentralized exchanges in the markets but why we do not use them maximum times is because of the low volume and low liquidity rate. We traders always want quick trades which can only be fulfilled with high liquidity exchanges which are mostly been provided by the centralized exchanges.
Most of the decentralized exchanges have minimum amount of traders which would never keep the order books filled. I would love to use a decentralized exchange if it fulfills my requirements but until now I have seen none of such exchange. We also need security about holding our funds and centralized exchanges gives us that security.
There are a couple of decentralized exchanges that seem to have handled the Liquidity problem fairly well.... and it appears to be working. There are few other possible solutions to the problem that no one have tried as far as I can tell. One of them is probably too radical that some might find a bit hard to accept. Most of the decentralized exchanges have minimum amount of traders which would never keep the order books filled. I would love to use a decentralized exchange if it fulfills my requirements but until now I have seen none of such exchange. We also need security about holding our funds and centralized exchanges gives us that security.
The main problem with decentralised exchanges is that there is not enough volume. Most decentralised exchanges are a bit difficult to use, which causes many problems for newbie.
Centralized exchanges have huge volume and are easy to use. There are many exchange have mobile apps. Which easily attracts everyone.
Centralized exchanges have huge volume and are easy to use. There are many exchange have mobile apps. Which easily attracts everyone.
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