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Author Topic: Am I asking too much?  (Read 1618 times)
Fatoshi
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June 08, 2017, 05:44:50 AM
 #1

All i want is a decentralized exchange where I can move btc into other liquid assets like gold, fiat etc
 I dont even mind if they are just a token that refects the underlying value as long as they are safe and sufficiently liquid volume enough to easily move in and out of them. I want to do all this without touching banks or gov.


Anything like this exist or is planned?

Am I asking too much?

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June 08, 2017, 06:30:52 AM
 #2

well with fiat, gold and all the rest of the regulated stuff, there will always be some level of centralization and regulation that you need to follow. so i think yeah you are asking a bit much Smiley

unless you move to physical and face to face exchange of BTC to Physical Gold, Hard Cash, ... i don't see any other way.

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Fatoshi
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June 08, 2017, 06:35:50 AM
 #3

No platforms doing this? I year ago I looked at bitshares but i dodnt like the UI amd it didnt have enough vol to confidently use it.

Any similar options?

Like I said im willing to use virtual tokens if the platform is relatively stable and trusted.

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June 08, 2017, 11:37:05 AM
 #4

Bump

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June 08, 2017, 01:27:53 PM
 #5

All i want is a decentralized exchange where I can move btc into other liquid assets like gold, fiat etc
 I dont even mind if they are just a token that refects the underlying value as long as they are safe and sufficiently liquid volume enough to easily move in and out of them. I want to do all this without touching banks or gov.


Anything like this exist or is planned?

Am I asking too much?

In my opinion, yeah, you are asking too much, a decentralized exchange? I don't think so, because this exchanges does exist because they are companies which do earn bitcoins on making a way where bitcoin users could exchange their coins or to trade their coins, and getting this decentralized would be impossible and no one would ever do that, because there is no reason to make one.

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Fatoshi
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June 08, 2017, 01:34:33 PM
 #6

All i want is a decentralized exchange where I can move btc into other liquid assets like gold, fiat etc
 I dont even mind if they are just a token that refects the underlying value as long as they are safe and sufficiently liquid volume enough to easily move in and out of them. I want to do all this without touching banks or gov.


Anything like this exist or is planned?

Am I asking too much?

In my opinion, yeah, you are asking too much, a decentralized exchange? I don't think so, because this exchanges does exist because they are companies which do earn bitcoins on making a way where bitcoin users could exchange their coins or to trade their coins, and getting this decentralized would be impossible and no one would ever do that, because there is no reason to make one.


I don't want to embarrass you but like I already it does already exist I'm just wondering what other platforms exist and are planned.

Bitshares I know of, didnt like it, no vol but I havent tried it for a year.

Ripple has a kind of decentralised market, I havent looked at Ripple for a few years so I dont even know what form it takes now.


So anyone recommend other platforms? Does WAVES do this?

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June 08, 2017, 01:42:32 PM
 #7

The governments won't be happy with a decentralized exchange. You know, money laundering and tax evasion will be an issue, or excuse.

And if there is trouble, where would you go to complain?

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June 08, 2017, 01:47:38 PM
 #8

It's impossible to decentralize exchange of crypto for fiat, because fiat is inherently centralized. If you need to go through the banking system, then decentralization is out of the question.

If you want to exchange for fiat, you must meet with a person in real life through local bitcoins, and exchange for fiat or gold.

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June 08, 2017, 01:47:51 PM
 #9

All i want is a decentralized exchange where I can move btc into other liquid assets like gold, fiat etc
 I dont even mind if they are just a token that refects the underlying value as long as they are safe and sufficiently liquid volume enough to easily move in and out of them. I want to do all this without touching banks or gov.


Anything like this exist or is planned?

Am I asking too much?

In my opinion, yeah, you are asking too much, a decentralized exchange? I don't think so, because this exchanges does exist because they are companies which do earn bitcoins on making a way where bitcoin users could exchange their coins or to trade their coins, and getting this decentralized would be impossible and no one would ever do that, because there is no reason to make one.


I don't want to embarrass you but like I already it does already exist I'm just wondering what other platforms exist and are planned.

Bitshares I know of, didnt like it, no vol but I havent tried it for a year.

Ripple has a kind of decentralised market, I havent looked at Ripple for a few years so I dont even know what form it takes now.


So anyone recommend other platforms? Does WAVES do this?
Have you ever heard of Bitsquare? That's another decentralized exchange which allows you to exchange Bitcoin for fiat and other cryptocurrency.
It's not that popular the last time I checked, but there are still some good offers on there.

Check out their website and download their open source app here:
https://bitsquare.io/


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June 08, 2017, 01:52:41 PM
 #10

There are many exchange platforms that have BTC-USDT (Tether) pairs, Tether is actually backed by real USD deposits in banks and 1 USDT tends to remain as 1 USD but there can be some fluctuation in this value like we have right now.

Another option could be goldmoney that accepts bitcoin deposits and you can buy gold with it but you can't buy back bitcoin with those gold. If you want to cash out than you can receive gold bars from them if your country lies under their supported country list.


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June 08, 2017, 01:59:25 PM
 #11

All i want is a decentralized exchange where I can move btc into other liquid assets like gold, fiat etc
 I dont even mind if they are just a token that refects the underlying value as long as they are safe and sufficiently liquid volume enough to easily move in and out of them. I want to do all this without touching banks or gov.

Anything like this exist or is planned?

Am I asking too much?

You are not asking too much

And you are certainly not alone who is waiting for a truly decentralized blockchain based exchange to emerge. I'm also waiting and expecting such one (if that comforts you somehow). All previous implementations suffered from the same flaw, i.e. they were devastatingly slow. Now when Lightning Network is activated in Litecoin and will likely be activated in Bitcoin as well (though this is not a given), we may hope that some new developments will come up soon aiming at implementing an instant exchange in the blockchain itself

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June 08, 2017, 02:04:08 PM
 #12

There are many exchange platforms that have BTC-USDT (Tether) pairs, Tether is actually backed by real USD deposits in banks and 1 USDT tends to remain as 1 USD but there can be some fluctuation in this value like we have right now.

Another option could be goldmoney that accepts bitcoin deposits and you can buy gold with it but you can't buy back bitcoin with those gold. If you want to cash out than you can receive gold bars from them if your country lies under their supported country list.

They're all one phone call or raid away from being shut down. They'll end up as poster boys for the dangers of centralisation without playing regulatory ball.

All tokens imply backing, and backing implies a point of failure.

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June 08, 2017, 02:08:16 PM
 #13

decentralized pure online fiat is impossible by its nature.

decentralized crypto exists already, theres one on the ethereum blockchain

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June 08, 2017, 02:08:39 PM
 #14

All i want is a decentralized exchange where I can move btc into other liquid assets like gold, fiat etc
 I dont even mind if they are just a token that refects the underlying value as long as they are safe and sufficiently liquid volume enough to easily move in and out of them. I want to do all this without touching banks or gov.


Anything like this exist or is planned?

Am I asking too much?
A decentralized exchange cannot do something like that though. This is the biggest issue that I have with people who don't understand the terminology that they're using.

A decentralized exchange would not be able to hold gold or fiat for you, without you having to rely on someone else to store it, because it requires physical storage and it can't just materialize. If you trade with someone for gold, how do they send you their gold? There is nowhere to deposit it because there is no central authority, which could then send you your portion of the gold.

What you want is a centralized exchange with more options.














 

 

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June 08, 2017, 02:15:37 PM
 #15

All i want is a decentralized exchange where I can move btc into other liquid assets like gold, fiat etc
 I dont even mind if they are just a token that refects the underlying value as long as they are safe and sufficiently liquid volume enough to easily move in and out of them. I want to do all this without touching banks or gov.


Anything like this exist or is planned?

Am I asking too much?

Take a look at bitcoin marketcap, there's an exchange that receives a cryptocurrency exchange with gold, or an investment  bitcoin with gold, many businesses are opened with bitcoin.

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June 08, 2017, 02:24:27 PM
 #16

Yes and no. A decentralized exchange as in something like good old P2P localbitcoins isn't too much to ask; but a digital exchange similar to Poloniex is. You can't really get physical assets to another person unless you go through a centralized system (mail, FedX, UPS, ect) or meeting in person. Not to mention regulations on physical goods and Fiat.
Edit: Grammar
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June 08, 2017, 05:10:02 PM
 #17

Thanks for the replies. This is not directed at anyone, just a comment.

But how sad is it that a group of adults cant freely buy and sell legal assets without regulations, controls and government breathing down our necks. Even worse many of us don't think that will ever be possible.

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June 08, 2017, 05:54:49 PM
 #18

No you are not asking too much but right now we even don't have any reliable decentralized bitcoin exchange with good trading volume. Any token that will be backed by gold or fiat will be centralized so even though you use decentralized exchange to trade them with bitcoin, government can easily shut those token down and you may end up with nothing.

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June 08, 2017, 06:01:58 PM
 #19

All i want is a decentralized exchange where I can move btc into other liquid assets like gold, fiat etc
 I dont even mind if they are just a token that refects the underlying value as long as they are safe and sufficiently liquid volume enough to easily move in and out of them. I want to do all this without touching banks or gov.


Anything like this exist or is planned?

Am I asking too much?
This is not too much to ask as this will even create inter platform trading which will equally blend both items but the issue here is that while bitcoin is not regulated, gold is fully regulated and aside that bitcoin is yet to be accepted into the mainstream of trading like other commodities such as gold, silver, currencies, crude oil among others so if this can happen I am sure that a cross platform WL be created to make this dream a possibility.

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June 08, 2017, 06:04:04 PM
 #20

All i want is a decentralized exchange where I can move btc into other liquid assets like gold, fiat etc
 I dont even mind if they are just a token that refects the underlying value as long as they are safe and sufficiently liquid volume enough to easily move in and out of them. I want to do all this without touching banks or gov.


Anything like this exist or is planned?

Am I asking too much?
Bitcoin is on the way to become centralized. So, yes, you are asking too much. In our world it's easier to centralized bitcoin rather to decentralize exchange into gold or fiat.

   
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