WAVES. Ultimate crypto-tokens blockchain platform.

[schnidl]

Hi guys!

I send BTC, EUR, USD, ... to a gateway and get tokens wEUR, wUSD, wBTC ...
I have full controll of the tokens in a decentralised network, so everything is safe (the only weak point is myself --> password, trojans, virus, ...)
Sounds good so far.

But what if the original EUR, USD, BTC get stolen? What if the gateway gets hacked, or goes broke? My tokens are still here, wonderfull. But they aren't backed 1:1 anymore, they are worthless. I can't change my wBTC to BTC anymore.

So whats the advantage over a normal exchange like poloniex??? I don't get it, where is my mistake?

[22naru]

Hi guys!

I send BTC, EUR, USD, ... to a gateway and get tokens wEUR, wUSD, wBTC ...
I have full controll of the tokens in a decentralised network, so everything is safe (the only weak point is myself --> password, trojans, virus, ...)
Sounds good so far.

But what if the original EUR, USD, BTC get stolen? What if the gateway gets hacked, or goes broke? My tokens are still here, wonderfull. But they aren't backed 1:1 anymore, they are worthless. I can't change my wBTC to BTC anymore.

So whats the advantage over a normal exchange like poloniex??? I don't get it, where is my mistake?

i wait for a good A. aswell.

[Mallyx]

Hi guys!

I send BTC, EUR, USD, ... to a gateway and get tokens wEUR, wUSD, wBTC ...
I have full controll of the tokens in a decentralised network, so everything is safe (the only weak point is myself --> password, trojans, virus, ...)
Sounds good so far.

But what if the original EUR, USD, BTC get stolen? What if the gateway gets hacked, or goes broke? My tokens are still here, wonderfull. But they aren't backed 1:1 anymore, they are worthless. I can't change my wBTC to BTC anymore.

So whats the advantage over a normal exchange like poloniex??? I don't get it, where is my mistake?

i wait for a good A. aswell.

It require a third party to convert fiat/BTC to Waves tokens. The guarantee depend of the gateway, as the safety of your coins on Polo depend of the service itself.

The advantage is that more gateway should join on the long term (nothing prevent you to create your own gateway service). So if one is compromised, you have all the others.
The eco-system is still building up.

[schnidl]

Hi guys!

I send BTC, EUR, USD, ... to a gateway and get tokens wEUR, wUSD, wBTC ...
I have full controll of the tokens in a decentralised network, so everything is safe (the only weak point is myself --> password, trojans, virus, ...)
Sounds good so far.

But what if the original EUR, USD, BTC get stolen? What if the gateway gets hacked, or goes broke? My tokens are still here, wonderfull. But they aren't backed 1:1 anymore, they are worthless. I can't change my wBTC to BTC anymore.

So whats the advantage over a normal exchange like poloniex??? I don't get it, where is my mistake?

i wait for a good A. aswell.

It require a third party to convert fiat/BTC to Waves tokens. The guarantee depend of the gateway, as the safety of your coins on Polo depend of the service itself.

The advantage is that more gateway should join on the long term (nothing prevent you to create your own gateway service). So if one is compromised, you have all the others.
The eco-system is still building up.

I see no difference between a gateway and a normal exchange.
Only difference i can see is, that for example 2 EUR gateways will be live in short time. If both are used nearly the same and one gets hacked or runs away with our funds, the tokens aren't backed 1:1 anymore but 2:1. So if more than 50% of users wanna change tokens to cash, there'll be a problem. The more gateways the better, but in the long run 1:1 backing won't work.

[Akboi]

So Euro Gateway is real now? This is a big step for WAVES but market doesn't price it yet. OR maybe they started priced it 2-3 weeks ago, we don't know for sure because at the same time all altcoins and Bitcoin were raised. I hope we can see another pump for this news. While the price is declining a little I'm buying more WAVES to get my stash bigger.

[canuck]

Hi guys!

I send BTC, EUR, USD, ... to a gateway and get tokens wEUR, wUSD, wBTC ...
I have full controll of the tokens in a decentralised network, so everything is safe (the only weak point is myself --> password, trojans, virus, ...)
Sounds good so far.

But what if the original EUR, USD, BTC get stolen? What if the gateway gets hacked, or goes broke? My tokens are still here, wonderfull. But they aren't backed 1:1 anymore, they are worthless. I can't change my wBTC to BTC anymore.

So whats the advantage over a normal exchange like poloniex??? I don't get it, where is my mistake?

i wait for a good A. aswell.

It require a third party to convert fiat/BTC to Waves tokens. The guarantee depend of the gateway, as the safety of your coins on Polo depend of the service itself.

The advantage is that more gateway should join on the long term (nothing prevent you to create your own gateway service). So if one is compromised, you have all the others.
The eco-system is still building up.

I see no difference between a gateway and a normal exchange.
Only difference i can see is, that for example 2 EUR gateways will be live in short time. If both are used nearly the same and one gets hacked or runs away with our funds, the tokens aren't backed 1:1 anymore but 2:1. So if more than 50% of users wanna change tokens to cash, there'll be a problem. The more gateways the better, but in the long run 1:1 backing won't work.

Basically what you're pointing out is that gateways are exposed to a risk of fraud or theft. It's a good observation and as in any market where credit is being extended, or where purchasing power is being converted, gateways will have to charge a premium for their services that cover costs of service provision, and mitigate some risk of fraud. The 1:1 backing will still exist, but a gateway may lose funds in the case of fraud.

Similarly, if you convert fake dollar bills into real euros at a currency exchange business, the currency exchange business takes the hit and has to draw from their profits to cover the loss. This is possible in part because fiat monies aren't stablecoins. While the financial ecosystem is harmed, it remains functional, and nominal accounting remains integral in the broader economy.

What you're identifying is a risk to gateways, not a risk to the broader WAVES exchange economy. You're right to identify it, but it doesn't threaten 1:1 backing. If that threatened 1:1 backing, then so too would the taking of any profits by gateways.

[schnidl]

Hi guys!

I send BTC, EUR, USD, ... to a gateway and get tokens wEUR, wUSD, wBTC ...
I have full controll of the tokens in a decentralised network, so everything is safe (the only weak point is myself --> password, trojans, virus, ...)
Sounds good so far.

But what if the original EUR, USD, BTC get stolen? What if the gateway gets hacked, or goes broke? My tokens are still here, wonderfull. But they aren't backed 1:1 anymore, they are worthless. I can't change my wBTC to BTC anymore.

So whats the advantage over a normal exchange like poloniex??? I don't get it, where is my mistake?

i wait for a good A. aswell.

It require a third party to convert fiat/BTC to Waves tokens. The guarantee depend of the gateway, as the safety of your coins on Polo depend of the service itself.

The advantage is that more gateway should join on the long term (nothing prevent you to create your own gateway service). So if one is compromised, you have all the others.
The eco-system is still building up.

I see no difference between a gateway and a normal exchange.
Only difference i can see is, that for example 2 EUR gateways will be live in short time. If both are used nearly the same and one gets hacked or runs away with our funds, the tokens aren't backed 1:1 anymore but 2:1. So if more than 50% of users wanna change tokens to cash, there'll be a problem. The more gateways the better, but in the long run 1:1 backing won't work.

Basically what you're pointing out is that gateways are exposed to a risk of fraud or theft. It's a good observation and as in any market where credit is being extended, or where purchasing power is being converted, gateways will have to charge a premium for their services that cover costs of service provision, and mitigate some risk of fraud. The 1:1 backing will still exist, but a gateway may lose funds in the case of fraud.

Similarly, if you convert fake dollar bills into real euros at a currency exchange business, the currency exchange business takes the hit and has to draw from their profits to cover the loss. This is possible in part because fiat monies aren't stablecoins. While the financial ecosystem is harmed, it remains functional, and nominal accounting remains integral in the broader economy.

What you're identifying is a risk to gateways, not a risk to the broader WAVES exchange economy. You're right to identify it, but it doesn't threaten 1:1 backing. If that threatened 1:1 backing, then so too would the taking of any profits by gateways.

Now everything makes sense to me. The comparison with usd bills is nice. And that the gateways earn fees is also a good point, so there will always be someone who'll run a gateway. You opened my mind, thanks!

[Soul_eater_123]

If anyone is interested I made a blog post on why we need Decentralised Exchanges (I mention the main options including WAVES and used the new GUI as my main image):



https://steemit.com/bitcoin/@thecryptofiend/why-we-need-decentralised-exchanges

Please feel free to share it/comment etc.

I also made a tweet here:

https://twitter.com/Soul_Eater_43/status/869200469746495488

[Aerys2]

If anyone is interested I made a blog post on why we need Decentralised Exchanges (I mention the main options including WAVES and used the new GUI as my main image):



https://steemit.com/bitcoin/@thecryptofiend/why-we-need-decentralised-exchanges

Please feel free to share it/comment etc.

I also made a tweet here:

https://twitter.com/Soul_Eater_43/status/869200469746495488

.
Good job, thatll help Waves

[Soul_eater_123]

If anyone is interested I made a blog post on why we need Decentralised Exchanges (I mention the main options including WAVES and used the new GUI as my main image):



https://steemit.com/bitcoin/@thecryptofiend/why-we-need-decentralised-exchanges

Please feel free to share it/comment etc.

I also made a tweet here:

https://twitter.com/Soul_Eater_43/status/869200469746495488

.
Good job, thatll help Waves

I hope so and hopefully it will be useful to get more people interested in DEXs which is good for all of us!

[Il Tomato]

how long does a withdraw take with btc ?

[herromerro]

how long does a withdraw take with btc ?

I withdrew couple of times and took minutes.

But some says it takes longer.

[butragenjo]

Please tell me,how much is 100 wavesclassic price?

[Il Tomato]

how long does a withdraw take with btc ?

I withdrew couple of times and took minutes.

But some says it takes longer.

TY sir 

[Il Tomato]

Please tell me,how much is 100 wavesclassic price?

1 waves = 0.00000101 wavesclassic at the moment

[Videodrome]

If anyone is interested I made a blog post on why we need Decentralised Exchanges (I mention the main options including WAVES and used the new GUI as my main image):



https://steemit.com/bitcoin/@thecryptofiend/why-we-need-decentralised-exchanges

Please feel free to share it/comment etc.

I also made a tweet here:

https://twitter.com/Soul_Eater_43/status/869200469746495488

.
Good job, thatll help Waves

I hope so and hopefully it will be useful to get more people interested in DEXs which is good for all of us!

I have used a lot of time etherdelta, but waves dex also if now is in alpha is a lot more fast and user friendly.

When this new version will be relased for sure it will be the best dex on the market and all othets future dex will copy.

[vindyne8]

https://twitter.com/EvelinaLavrova/status/869224955719938051

[cointron]

Will  Waves continue to allow the indiscriminate creation of Tokens and the creation of fake tokens for scam purposes?

[Soul_eater_123]

I have used a lot of time etherdelta, but waves dex also if now is in alpha is a lot more fast and user friendly.

When this new version will be relased for sure it will be the best dex on the market and all othets future dex will copy.

Cool.  Not familiar with etherdelta I will see if I can find it.

[Its About Sharing]

I transferred some Waves to my Waves Chrome wallet. They appeared and then the whole transaction was gone. I'm not very worried, but is there a problem on the network? I notice I can't search for the tx or address on http://wavesexplorer.com/

Thx in advance

Its about sharing