Bobrox
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April 14, 2023, 02:48:13 AM |
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Can't imagine what happen cryptocurrency without CEXs (centralized exchanges) and how possibility withdrawing crypto assets trough to the bank, so far CEXs not only as exchange market or place for trading and investing only but also have helped us to withdrawing crypto fund to Bank account as final goal for trader or investor. I believe with Dapp exchange but can't help us how to withdraw crypto fund to the Bank account as soon possible with CEXs.
Indeed have option with manually convert but seems need to pay higher fees than withdrawing directly from CEXs exchange account to the bank and there are huge limit withdrawing. Beside with CEXs make investor more excited for trading than Dapp exchange.
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o48o
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April 14, 2023, 11:11:17 AM |
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-cut- At least, truly-decentralized cryptocurrencies won't be going anywhere soon. The odds of a "full blanket ban" are slim, so there should be no reason to worry about CEXs disappearing anytime soon. Maybe restrictive countries like the US, China, and Russia will come to their senses soon? Just my thoughts Sure, but without fiat ramps (aka cexes) it would mean that people would need to trade and use cryptocurrencies without trading them to fiat. If this would happen in a larger scale it would most likely mean fall of the whole fiat system. Nations would break apart and it wouldn't happen in peace. I don't see that happening either. The USA. tries to restricts as much as possible against cryptocurrency companies, banks support cryptocurrencies as they are reviving Operation Choke Point after its previous failure enforcement in Obama time. I don't believe US. congress and US. citizens will allow their government to ban cryptocurrency completely. That is a free nation and the voice of their citizens has its power. I was aswering to hypotetical question about CEXes being banned. That would automatically mean fiat pairs being banned, meaning loss of liquidity and lack of fiat ramp. I don't have clear opinion about US politics but i got the sense that everyone in there wants to weed out corruption and of they want to prevent money laundering and corruption, forced auditability and control of money are pretty much only ways to do it. US citizens doesn't quite seem to understand what consequences comes with the concept of being "free".
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Tony116
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April 14, 2023, 12:11:34 PM |
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Assuming that somehow centralized exchanges were banned all over the world then this will be without a doubt a very strong blow against this market, as people are simply too accustomed to use the services centralized exchanges provide, and while decentralized exchanges could provide some volume to this market it would not be enough, and with this in mind I think a dramatic decrease on the price of all coins could follow and create a new crypto winter.
... While the odds of CEXs becoming extinct in the future are slim, we should be prepared for the worst especially when most governments are about to launch CBDCs of their own. Who knows how would crypto fare in the future once CBDCs take over the world? Just my thoughts I don't think that will happen even if they launch their own CBDC. Cryptocurrencies are now more like a financial market, a commodity, than a currency to compete with their CBDCs. Moreover, banning cryptocurrencies does not bring them any benefit at all and causes a huge loss of tax revenue. If you notice the lawsuits, the recent US fines against exchanges are also civil lawsuits, which means they just want us to comply with their rules. They have no intention of criminal prosecution, resulting in a complete ban on us.
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inanilujimi
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April 15, 2023, 04:26:14 AM |
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We are now in an era with very advanced technology, every individual is competing to show their respective skills, I believe even though CEX doesn't exist, there will be lots of dex and dapps that can meet the needs of every individual who invests or just trades crypto.
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Apocollapse
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April 17, 2023, 06:33:36 AM |
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I don't think that will happen even if they launch their own CBDC. Cryptocurrencies are now more like a financial market, a commodity, than a currency to compete with their CBDCs. Moreover, banning cryptocurrencies does not bring them any benefit at all and causes a huge loss of tax revenue.
If you notice the lawsuits, the recent US fines against exchanges are also civil lawsuits, which means they just want us to comply with their rules. They have no intention of criminal prosecution, resulting in a complete ban on us.
But cryptocurrency can be used as a currency, just like how two countries have been accept Bitcoin as a legal tender. Cryptocurrency can be used to evade from paying tax, you should think not all people who hold cryptocurrency want to report their holdings, how much the profit they make to tax institution. Right now you saw SEC only want exchanges to follow their rules, but you don't know the future what they will do with cryptocurrency.
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moneystery
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April 17, 2023, 06:41:43 AM |
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Maybe the crypto industry will be greatly affected by the restricted access to CEX, but that doesn't mean that CEX won't be able to operate, because they can operate and provide their services to users globally, but it's just that their risk of being criminalized is quite big and also that means no there are regulations on the platform so that all risks will be much greater, such as regarding user assets and KYC.
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Abiky (OP)
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April 18, 2023, 12:58:32 AM |
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I don't think that will happen even if they launch their own CBDC. Cryptocurrencies are now more like a financial market, a commodity, than a currency to compete with their CBDCs. Moreover, banning cryptocurrencies does not bring them any benefit at all and causes a huge loss of tax revenue.
If you notice the lawsuits, the recent US fines against exchanges are also civil lawsuits, which means they just want us to comply with their rules. They have no intention of criminal prosecution, resulting in a complete ban on us.
The government has more to lose by banning crypto completely than regulating it. China and Russia are already losing large tax revenues by prohibiting the use of crypto assets within the region. I think they will change their stance in the future, as crypto/Blockchain tech continues to grow in popularity. CEXs are the perfect "tool" for governments to collect a crypto user's personal information for taxation purposes or simply to view his/her trades for any suspicious activity. Without CEXs, governments will have no easy way to catch malicious actors on-chain. It will need to do more "digging" to get what they want. Don't expect the industry to move away from CEXs after the FTX implosion. CEXs will only become bigger and stronger than ever. While DEXs are an alternative, they're still far from perfect. At least, it's better something than nothing. As long as you don't leave all of your coins in an exchange, there should be nothing to worry about. Just my opinion
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mu_enrico
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April 18, 2023, 05:18:42 AM |
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The problem with DEX is trust, I mean if the founder is known it won't be "the true DEX" as they will get pressured by government to comply with the regulation. Meanwhile, if the dev is anon, they can rug pull on us...
The tech is also a problem as there's no tech that is government-resistant or outside of the government boundary. If the DEX is big enough we can expect some raid and jail time. Don't forget that exchanges need banking support for in-out fiat, which means compliance with the regulation.
As much as we want to push DEX & anonymous ideology, I can't see it happening anytime soon.
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Xal0lex
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April 18, 2023, 04:19:03 PM |
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The problem with DEX is trust, I mean if the founder is known it won't be "the true DEX" as they will get pressured by government to comply with the regulation. Meanwhile, if the dev is anon, they can rug pull on us...
The tech is also a problem as there's no tech that is government-resistant or outside of the government boundary. If the DEX is big enough we can expect some raid and jail time. Don't forget that exchanges need banking support for in-out fiat, which means compliance with the regulation.
As much as we want to push DEX & anonymous ideology, I can't see it happening anytime soon.
And if the developer is unknown, it may happen like with SushiSwap, which pulled some liquidity and decided to leave the project. Now, in 2023, having an anonymous funder only causes distrust in the project and unnecessary suspicion, rather than any decentralization. Although regulated DEXs are already an oxymoron I remember Uniswap once tried to impose sanctions against some countries, albeit at the UI level. That certainly shouldn't happen on decentralized sites.
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CapGelatik
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Combo Network
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April 18, 2023, 07:38:54 PM |
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In my opinion, without CEX in the crypto world, the crypto market will still be fine, even in my opinion, DEX is better than CEX, especially about the many bankrupt CEX like FTX that makes everyone afraid, even Binance is also hit by FUD every day.
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Abiky (OP)
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www.Crypto.Games: Multiple coins, multiple games
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April 18, 2023, 08:01:43 PM |
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The problem with DEX is trust, I mean if the founder is known it won't be "the true DEX" as they will get pressured by government to comply with the regulation. Meanwhile, if the dev is anon, they can rug pull on us...
The tech is also a problem as there's no tech that is government-resistant or outside of the government boundary. If the DEX is big enough we can expect some raid and jail time. Don't forget that exchanges need banking support for in-out fiat, which means compliance with the regulation.
As much as we want to push DEX & anonymous ideology, I can't see it happening anytime soon.
Isn't IPFS and ENS censorship-resistant? I think it's possible to build a DEX using these technologies alone for complete peace of mind. The front-end interface of the exchange would be hosted on IPFS, while the domain name would be pointed to ENS. But I see what you mean. The vast majority of DEX projects are built using centralized infrastructure, making it easy for governments to shut them down at will. That, and also the fact that most projects have exposed the identities of their developer team. I know that something made by an anonymous person would raise a red flag, but we could say the same about Bitcoin whose creator is yet to be revealed. If people trust BTC even though no one knows who created it, then they can trust a truly-decentralized exchange built by an anonymous person or group of anonymous individuals. Let's see how governments' efforts to stop the revolution will turn out to be once they hit the wall of decentralization and censorship resistance. Either they join crypto/Blockchain tech or they'll get left behind in the dust. Just my opinion
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shinratensei_
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April 18, 2023, 10:45:01 PM |
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In my opinion, without CEX in the crypto world, the crypto market will still be fine, even in my opinion, DEX is better than CEX, especially about the many bankrupt CEX like FTX that makes everyone afraid, even Binance is also hit by FUD every day.
ut the thing is, majority of liquidity are available in cex in which in this case if they didn't exist i doubt we gonna have this much market capitalization, even though many are frowning upon cex since many are collapsing it undenied that cex has been the one that's bringing the massive liquidity. so I guess if crypto world is without these platform, they'd certainly lost so many liquid, meanwhile the dexes known for their hard to find liquidity that caused many to switch over cexes, but i also think it's fair enough that some people think cryptocurrency better off without cexes and only need dexes since many might be traumatic against the cexes in general mainly because they've lost massive fortune in recent ftx incident.
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borovichok
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April 19, 2023, 02:59:39 AM |
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In my opinion, without CEX in the crypto world, the crypto market will still be fine, even in my opinion, DEX is better than CEX, especially about the many bankrupt CEX like FTX that makes everyone afraid, even Binance is also hit by FUD every day.
Experience over the past years is terrible, some trader's have even vowed not to have anything to do with CEXs because they lost most of their funds to scams. FTX dump make the whole crypto universe to generate strong doubt towards believing that CEXs is a better project, most trader's condemned it because they're afraid that Binance will do the same thing, probably not now, but in the future. CEX do play a key role in the aspect of the trader's priority because they're third party that linked one with alternatives. They're easily managed and every trader have full access to the exchange without any form of superiority, everyone is treated equal.
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