Coinffeine: Re-decentralizing Bitcoin exchanges

[taylortyler]

www.coinfinance.com/news/coinffeine-re-decentralizing-bitcoin-exchanges

[PalmerLaura]

A side thought: Decentralized exchanges seem to be an inevitable step for bitcoin. Problem is, centralized exchanges like coinbase are making millions. They have a lot to lose if decentralized exchanges take over.. So, I think that we will start to see centralized exchanges like coinbase fighting to maintain "control" in a similar fashion to how banks and governments are doing with bitcoin in general. Thoughts?

[StatusSeeking]

How does it work though?

[AliceWonder]

Using a de-centralized exchange could (in some places) end up with prosecution if you transfer over a certain value.

Some places (at least the US) require transfers over a certain value be reported.

It will be interesting to see what happens legally.

[AliceWonder]

https://www.ffiec.gov/bsa_aml_infobase/pages_manual/OLM_017.htm

[mamarried]

A side thought: Decentralized exchanges seem to be an inevitable step for bitcoin. Problem is, centralized exchanges like coinbase are making millions. They have a lot to lose if decentralized exchanges take over.. So, I think that we will start to see centralized exchanges like coinbase fighting to maintain "control" in a similar fashion to how banks and governments are doing with bitcoin in general. Thoughts?

That's like saying that iTunes, Netflix, and Amazon On Demand feel threatened by BitTorrent and constantly fight against it.
Pro tip: They, and their tens of millions of mainstream customers, are not too worried about BitTorrent (if at all).

[mamarried]

A side thought: Decentralized exchanges seem to be an inevitable step for bitcoin. Problem is, centralized exchanges like coinbase are making millions. They have a lot to lose if decentralized exchanges take over.. So, I think that we will start to see centralized exchanges like coinbase fighting to maintain "control" in a similar fashion to how banks and governments are doing with bitcoin in general. Thoughts?

The Coinbases of the world will make most of their money from merchant accounts and mainstreamers who honestly don't know or care about the advent of decentralized exchanges.

Could decentralized exchanges and markets overtake the mainstream someday in the distant future? Perhaps... but, I seriously wouldn't bet on it happening anytime soon.

[smashingpumpkin]

A side thought: Decentralized exchanges seem to be an inevitable step for bitcoin. Problem is, centralized exchanges like coinbase are making millions. They have a lot to lose if decentralized exchanges take over.. So, I think that we will start to see centralized exchanges like coinbase fighting to maintain "control" in a similar fashion to how banks and governments are doing with bitcoin in general. Thoughts?

The Coinbases of the world will make most of their money from merchant accounts and mainstreamers who honestly don't know or care about the advent of decentralized exchanges.

Could decentralized exchanges and markets overtake the mainstream someday in the distant future? Perhaps... but, I seriously wouldn't bet on it happening anytime soon.

What I undestand is that centralized exchanges will need to comply with NY BitLicense. Coinffeine doesn't.

[AliceWonder]

What I undestand is that centralized exchanges will need to comply with NY BitLicense. Coinffeine doesn't.

Only the ones that operate in New York.

[AlPutino]

A side thought: Decentralized exchanges seem to be an inevitable step for bitcoin. Problem is, centralized exchanges like coinbase are making millions. They have a lot to lose if decentralized exchanges take over.. So, I think that we will start to see centralized exchanges like coinbase fighting to maintain "control" in a similar fashion to how banks and governments are doing with bitcoin in general. Thoughts?

It's the sort of fight cryptocurrency should thrive on.
I, for one, can't wait to see exchanges built into every wallet of every coin.

[Riniaiokl]

Well this could get interesting... Why not go decentralized from the get! Why must you start in centralized mode?

[Tenarlty]

The Off/On ramps in the banking industry are still a problem though. Closed bank account and you are dead in the water.

[Ron~Popeil]

Trustless servers would get the crypto side done. The fiat side would be the issue. Someone would have to have a merchant or bank account wouldn't they?

[Beliathon]

Using a de-centralized exchange could (in some places) end up with prosecution if you transfer over a certain value.

Some places (at least the US) require transfers over a certain value be reported.

Only if you fail to use the available tools to protect your identity.

And as time goes on, and these draconian regulations pop-up in different places around the world, those tools will become more and more abundant and more and more user-friendly.

Bitcoin is like that ancient mythical beast, the Hydra. Regulators think they can defeat it by cutting off one of its many heads.



What a terrible miscalculation they have made... Cut off one head, two more will grow in its place.

There are some foes you cannot defeat, for them the only way to win (read: survive), is by not fighting at all.

[AliceWonder]

Using a de-centralized exchange could (in some places) end up with prosecution if you transfer over a certain value.

Some places (at least the US) require transfers over a certain value be reported.

Only if you fail to use the available tools to protect your identity.

no one has perfect opsec.