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Author Topic: The need for decentralised exchanges — has never been more important  (Read 875 times)
franky1
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February 03, 2016, 04:54:46 PM
 #21

...
your forgetting ripple that allowed exchanging on ripple. and when finally ready to cash out you would use things like bitstamp/kraken
...

Option A:
1. Give your ID to bitstamp/kraken
2. Trade & cash out on bitstamp/kraken

Option B:
1. Trade via Ripple, the centralized decentralized solution
2. Give your ID to bitstamp/kraken
3. Cash out on bitstamp/kraken

Nice Smiley


the funny part of any FIAT handling, whether its direct daytrade exchange, indirectly via ripple or quasi decentralised by otc/brokers is this..
YOUR BANK still knows your life story.
even on bitstamp you dont need to hand over life history upfront. you can deposit bitcoins. and daytrade on ripple,etc and then withdraw bitcoin.
the only time you need life story is depositing and withdrawing fiat

the only true way of never connecting your ID would be prepaid debit cards that you can pick up at retail stores or gas stations using bank notes..
so all of the debates that fiat via wire transfer should be anonymous is a silly point to make. as its would never be anonymous.

you just need to accept that wire transfers wont ever be anonymous, and concentrate on ways to not even need fiat.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
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Dabs
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February 03, 2016, 04:55:14 PM
 #22

I used to travel to the US 3 or 4 times a year, and I used to buy my dollars from people in the exchange bank queues. It gave both of us a better deal. How long will it be before people start doing this with Bitcoin.
It's already happening.

I have accounts on most of the big exchanges, but rarely buy or sell directly from them. So my exchange accounts are "clean".

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February 03, 2016, 05:01:31 PM
 #23

bitshares 2.0 is a decentralized exchange work in progress, i'm sure there is another, i forgot the name in this moment
blunderer
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February 04, 2016, 02:10:35 PM
 #24

...
your forgetting ripple that allowed exchanging on ripple. and when finally ready to cash out you would use things like bitstamp/kraken
...

Option A:
1. Give your ID to bitstamp/kraken
2. Trade & cash out on bitstamp/kraken

Option B:
1. Trade via Ripple, the centralized decentralized solution
2. Give your ID to bitstamp/kraken
3. Cash out on bitstamp/kraken

Nice Smiley


the funny part of any FIAT handling, whether its direct daytrade exchange, indirectly via ripple or quasi decentralised by otc/brokers is this..
YOUR BANK still knows your life story.
even on bitstamp you doint need to hand over life history upfront. you can deposit bitcoins. and daytrade on ripple,etc and then withdraw bitcoin

the only true way of never connecting your ID would be prepaid debit cards that you can pick up at retail stores or gas stations using bank notes..
so all of the debates that fiat via wire transfer should be anonymous is a silly point to make. as its would never be anonymous.

you just need to accept that wire transfers wont ever be anonymous, and concentrate on ways to not even need fiat.

Just pointing out that your suggestion to trade on decentralized exchanges & only use conventional ones to cash out simply adds a layer of inconvenience, without solving a thing.

>concentrate on ways to not even need fiat
Fiat is a tool. Bitcoin is a tool. What you're suggesting is not using screwdrivers by using only hammers.
franky1
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February 04, 2016, 02:34:14 PM
 #25


Just pointing out that your suggestion to trade on decentralized exchanges & only use conventional ones to cash out simply adds a layer of inconvenience, without solving a thing.

>concentrate on ways to not even need fiat
Fiat is a tool. Bitcoin is a tool. What you're suggesting is not using screwdrivers by using only hammers.

my point is. "cashing out" is the thing that you cant do without LEGALLY providing ID.(though legit public exchanges)
so if you want bitcoin but dont want FIAT ID headaches. find ways to not need to "cashout" to fiat.

EG imagine your a British citizen and your prefered currency is Pound(analogy of btc). and the american dollar ramped up their KYC.. would you prefer to find ways around not needing ID. or ways to buy things with pounds without needing to touch the dollar..

ok lets flip it around(incase your american and hate my first example)
imagine your an American citizen and your prefered currency is dollar(analogy of btc). and the Chinese Yuan ramped up their KYC.. would you prefer to find ways around not needing ID. or ways to buy things with dollars without needing to touch the Yuan..

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
blunderer
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February 04, 2016, 02:50:35 PM
 #26


Just pointing out that your suggestion to trade on decentralized exchanges & only use conventional ones to cash out simply adds a layer of inconvenience, without solving a thing.

>concentrate on ways to not even need fiat
Fiat is a tool. Bitcoin is a tool. What you're suggesting is not using screwdrivers by using only hammers.

my point is. "cashing out" is the thing that you cant do without LEGALLY providing ID.(though legit public exchanges)
so if you want bitcoin but dont want FIAT ID headaches. find ways to not need to "cashout" to fiat.

EG imagine your a British citizen and your prefered currency is Pound(analogy of btc). and the american dollar ramped up their KYC.. would you prefer to find ways around not needing ID. or ways to buy things with pounds without needing to touch the dollar..

ok lets flip it around(incase your american and hate my first example)
imagine your an American citizen and your prefered currency is dollar(analogy of btc). and the Chinese Yuan ramped up their KYC.. would you prefer to find ways around not needing ID. or ways to buy things with dollars without needing to touch the Yuan..

I don't understand. Aren't we discussing European exchanges ramping up KYC requirements (i.e. "now you must provide ID")? How can you "cash out" "without LEGALLY providing ID.(though legit public exchanges)"?
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