Topic: Why there's no Bitcoin Dapps? (Read 181 times)

That too, however, people are already used to downloading and installing apps. If you are into torrenting, you know that patience is a virtue there as well sometimes. People don't mind apps. They would rather click on an icon on their screen than to visit the site in their browser, login, authenticate, etc. Not sure how long the syncing is, especially in regions with poor internet infrastructure. It would really suck if you would have to wait for hours due to bad internet connection. Bisq already has TOR built-in I think. That surely doesn't improve the speed aspect of things.

That sucks as well, but I think the fact that people have to download(and sync) a desktop client is also a huge deterrent. Can't blame the devs though, pretty hard to improve UX without hurting security and decentralization.

Bitcoin is not turing-complete. It has always used smart contracts but they have limited functionalities. That's why Ethereum or BSC is better suited for more complex operations. 

I think the security deposits, aka collateral is one reason people don't like it. If your entire portfolio is 1 BTC and you want to see all of that, you can't. You have to make a security deposit. And the exchange rates are worse than on centralized exchanges.

Bisq gives you custody of your coins at all times and anonymity. Centralized exchanges give you a more simplified trading experience, no custody, no anonymity, and withdrawal fees. But you get a better exchange rate and no need for collateral. Most people will still gladly accept the second offer.     

Ethereum , BSC, and other dApps that you are referring to aren't really that decentralized because the blockchains they are based on are a centralized piece of shit where a group of people rules the code but not the other way around. You simply can't build something decentralized on top of something completely centralized. Therefore, there are no real dApps exist. Except for Bitcoin of course, since the whole bitcoin system is a big decentralized application that works autonomously without a possibility for any human to change its rules and intervene in its functionality. Unlike other fake dApps that claim to be decentralized, it is a fully open-source system with strict rules, where rules of token issuance as well as mining process are algorithmically defined and require an overwhelming consensus of all participants to make even a very small change. Every transaction in this system works thanks to smart contracts and cryptography-based signatures, both of which ensure that it is only the right owner of funds that can move them within the system. Once the right of ownership is proved, and all required information to ownership transfer is presented, the transaction takes place and ends up as a part of history on all connected to the network full nodes that ensure distribution and decentralization.

Curious: would you call something a DEX if it was running on IPFS?

But yea, unfortunately Bisq brings too much complexity(downsides of decentralization) for the typical person; hence why it's not gaining much traction compared to easier-to-use P2P exchanges.

Probably not on bitcoin since its work on p2p than having its own dex. This is readily available on exchange. So everyone uses p2p or exchange for trading bitcoin. But who knows if someone itnegrated the btc dapp for such dex but honestly I never heard anyone to pursue it. Maybe a lot of things to work and consider unlike natural ethereum network.

You are actually describing the same exact thing.
You can either create a wallet in the P2P exchange or token swap software and transfer your funds (tokens or bitcoin) to that wallet paying a network/transaction fee. Then perform the exchange on that P2P exchange or token swap software.
The fees you pay on that platform should be zero, if they aren't then the platform is semi-centralized.

But the process is exactly the same and there is no need for a "dapps"!

Bitcoin had smart contracts from day one. What it didn't have and will never have is "token creation option" like shitcoins such as ethereum.

Have some God damn patience  BTC smart contract is in work but in a very slow progress that's why taproot was integrated some weeks ago, smart contract on BTC network is coming but I doubt it will receive the best audience since we have others available already.

You have to pay very high fees in ethereum (much higher than in Bitcoin) for doing anything, and it's even higher if you are using those crap dapps or fake dex exchange called uniswap.
This makes most of this dapps unusable in real life for regular users, and only whales  or Vitalik friends with premined coins can use them for manipulation and profit.
Only way for bitcoin to use somthing like dapps is with some second layer or sidechains, and we already saw few of them release but I am not interested at all.

It's not really a dex if it runs on centralized server or vps.
Only real decentralized exchange is Bisq and you can even used it for trading with fiat money.

Ethereum and Bitcoin are similar in many ways, but there are also numerous crucial differences between them. I recommend you read what the major differences between them are so you will know why there isn't a large selection of Bitcoin dApps, unlike some other blockchain networks.

https://www.investopedia.com/articles/investing/031416/bitcoin-vs-ethereum-driven-different-purposes.asp

Doesn't make it any better if the gas fees on Ethereum are far higher than a typical bitcoin transaction fee, ain't it? And on top of that you're also paying a fee for the liquidity providers and towards Uniswap's treasury(a total of around 0.3-1% for non stable-stable pairs), and then we have slippage(up to .5% for liquid pairs, could potentially be higher for exotic pairs), and then we have MEV arbitrageurs. Yep, you're paying far more in fees than you realize.

Let me elaborate my words.

What I mean is I don't need to transfer from my wallet to Uniswap, of course I still need to pay fees when swapping.

It's different with Bitcoin, I need to transfer my coins to P2P exchanges (fee for transfer) and I also need to pay fee when traded with someone, which I mean double fees here.

Bitcoin's focus is far more on the security and decentralization spectrum; and obviously a chain having so much features and moving parts would introduce a lot of potential problems.


Lol I doubt you actually tried using a DApp. If anything, the fees have been very high; it was just quite low recently due to the lowered demand because of the markets falling. And you're saying you didn't pay any fee?

Yesterday I connected my Metamask to Uniswap to swap my token, or this can be said as decentralized apps (Dapps). The process is simple and you don't need to pay any fee, however there's a risk of fake sites that can steal our coins.

Then I search about Bitcoin dapps, but I don't find anything... dapps mostly on ETH and BSC chain. Does this mean there's no Bitcoin dapps? Why no one developer created DEX which can be connected with our non custodial wallet (e.g. electrum, samourai, bluewallet etc)? As my understanding Metamask is non custodial too and there's many sites or web 3.0 accept Bitcoin, so it should be possible I guess.

It sounds cool right when you can use a DEX while your coins still on your non custodial wallet and you don't need to pay transfer fee, we only need to read the whole rules and permissions before connecting the wallet.