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Author Topic: Am I asking too much?  (Read 1620 times)
favila
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June 08, 2017, 06:10:13 PM
 #21

decentralized pure online fiat is impossible by its nature.

decentralized crypto exists already, theres one on the ethereum blockchain

Yep decentralized implies that its peer to peer but to facilitate trading in fiat a trusted third party is required for deposits and withdrawals.

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June 08, 2017, 07:15:32 PM
 #22


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.


Bitshares has ok volume for USD and CNY pegged assets, but not for a gold backed one.

The problem with Ripple is that the value of anything (except XRP itself) is at the mercy of some company that in most cases has no legal obligation to by that token back even if they sold it as "dollar" or "gold".

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June 08, 2017, 07:17:35 PM
 #23

I know what you want because I had exactly the same problem only took inquiries and research to solve.

USDT(Tether) is a good alternative. Being using it for weeks now as a safeguard to crazy Cryptocurrency fluctuations. Am not sure whether it is regulated or immune to exchange crash

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June 10, 2017, 04:20:03 PM
 #24

I know yobit let's you exchange is for bitcoins and you don't have to have the usd until you withdraw so it's what you want. You sit with the isd reflected in your account . So simply go from is to Bitcoin or vice versa and only actually draw the fiat if you withdraw off the exchange. I don't know why you would want to exchange to gold though.


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June 10, 2017, 06:09:31 PM
 #25

have you heard for tokens that you can exchange for physical gold, and if you want, the gold is send to your home, or storaged by them.

https://www.dgx.io/

I think this is it... I hope I helped.
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June 10, 2017, 06:28:27 PM
 #26

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?

All of these guys have said quite decent information and advise for you to try, and they think you are asking too much which is true, but to tell you the truth I am exchanging my bitcoins with fiat with the help of the bank, it is a bitcoin wallet and bank relationship if you ask because there is not much other ways to settle in my country but I don't think it is the same for your country either.














 

 

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Prodigan786
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June 10, 2017, 06:36:03 PM
 #27

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?
If you want liquidise your money then must use local bitcoin wallets . Yes again it's regularised so there will be a procedure to follow based on your country
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June 10, 2017, 06:53:49 PM
 #28

I wish someone would establish an exchange on international waters or on a private island and that exchange wouldn't require any verification or personal details. No government would be able to influence it and force it to share the identities or IPs of its users. If someone finds a way to make such an independent exchange he's going to make millions on it.

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June 10, 2017, 07:05:35 PM
 #29

I found this post interesting but, no one has chimed in really with next level ideas or pointed out anyone who has started doing so... only the pieces.

Well... all the pieces are here to do this, someone just needs to put it all together and back it.

The exchange you are asking for has to reside in the cloud... and to do so it needs to run in the EVM (Ethereum or Expanse Virtual Machine) which would execute the code base the exchange needs to operate. This is not cheap right now... not yet... in the future when these two coins increase in value, running inside the EVM will be much more cost effective. For now this is the limitation.

The EVM is designed not to provide CHEAP or even AVERAGE virtual compute... it is to provide INSANELY ANONYMOUS and AVAILABLE virtual compute that is P2P driven, resilient and where the code you submit to the EVM can only be changed by YOU the token creators for that platform. Therefore, it is expensive at current rates, you pay for the insane availability those platforms offer access to and for this idea, it is probably cost prohibitive.

Once that hurdle can truly be cleared, it becomes a matter of using blockchain for trust and identity for those users who wish to back tokenized assets on those platforms with their fiat or other physical assets. The Expanse dev team is already developing this too... a blockchain driven World Trust network if you will, which would allow asset holders to back crypto tokens with those assets tied to their World Trust identity.

Put those together with the developments in ZCASH private transactions, and several other developing communications protocols in promising projects here, you have yourselves the making of exactly what you are asking for.

GOOD things come with TIME and proper effort... and the pieces above are coming together whether we want it now or can wait a few more years.

PARTICIPATE and CONTRIBUTE... this whole thing gains value every day people do so.

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RedNovember
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June 10, 2017, 07:21:05 PM
 #30

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?

That's why mostly shady people will stay on there. Drug dealers and criminals and terromists

Overall the idea is good, but the reality is in its idealism it's naive
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June 10, 2017, 07:25:19 PM
 #31

I wish someone would establish an exchange on international waters or on a private island and that exchange wouldn't require any verification or personal details. No government would be able to influence it and force it to share the identities or IPs of its users. If someone finds a way to make such an independent exchange he's going to make millions on it.

This makes no sense, absolutely

If someone establishes an exchange in the international waters or on a private island, it can be easily hijacked by terrorists or their likes (or some rogue government agencies). Apart from that, top exchanges need the fastest Internet available today to remain competitive. I don't really know how you are going to achieve that on an isolated island. Further, such exchanges as Bitfinex are already mostly virtual, i.e. they exist entirely in cyberspace. Indeed, they have some physical presence since they still need processing capacity, read they need servers and other equipment as well as staff, but this is by far a better approach

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June 10, 2017, 08:13:15 PM
 #32

Bitcoin is on the way to become centralized. So, yes, you are asking too much.
That is a complete wrong assessment ,how can a decentralized network be controlled. Roll Eyes

I wish someone would establish an exchange on international waters or on a private island and that exchange wouldn't require any verification or personal details.
The problem is i think it is impossible to make these sort of free exchanges as it could break all the trade regulations and even if a crime is reported there is nothing you can do and with it if you are not following the basics,even i like to have my privacy but i do not mind providing my verification details as long as my privacy is maintained.














 

 

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June 11, 2017, 07:17:21 PM
 #33

I wish someone would establish an exchange on international waters or on a private island and that exchange wouldn't require any verification or personal details. No government would be able to influence it and force it to share the identities or IPs of its users. If someone finds a way to make such an independent exchange he's going to make millions on it.

This makes no sense, absolutely

If someone establishes an exchange in the international waters or on a private island, it can be easily hijacked by terrorists or their likes (or some rogue government agencies). Apart from that, top exchanges need the fastest Internet available today to remain competitive. I don't really know how you are going to achieve that on an isolated island. Further, such exchanges as Bitfinex are already mostly virtual, i.e. they exist entirely in cyberspace. Indeed, they have some physical presence since they still need processing capacity, read they need servers and other equipment as well as staff, but this is by far a better approach
But I think they still can be forced to give up personal data of their customers.
If they register in a certain country they have to obey its laws and can be pressured by the government to shut down. I hope there are still countries that value people's privacy and wouldn't do it, maybe those countries will become a safe haven for Bitcoin exchanges.

The problem is i think it is impossible to make these sort of free exchanges as it could break all the trade regulations and even if a crime is reported there is nothing you can do and with it if you are not following the basics,even i like to have my privacy but i do not mind providing my verification details as long as my privacy is maintained.
The main issue is you never know if if it will be maintained.
I am ok with verifying myself for security reasons, but I'm not ok with sharing these with government agencies.

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June 12, 2017, 02:06:17 PM
 #34

I know what you want because I had exactly the same problem only took inquiries and research to solve.

USDT(Tether) is a good alternative. Being using it for weeks now as a safeguard to crazy Cryptocurrency fluctuations. Am not sure whether it is regulated or immune to exchange crash
Actually USDT is in hot waters at the moment and speculated that it may crash. I’d be careful investing into it if I were you.
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June 12, 2017, 02:10:59 PM
 #35

I think I have read somewhere here in this forum of a coming ICO from a decentralized exchange with features which you are talking about here. Please search for CoinDash.io. I know that the name can be familiar because of Dash coin but this one is different. This is an exchange platform.

Right now, there are now so many nice ideas revolving the use of the cryptocurrency technology so much so that I can see a trend towards the use of niche marketing as strategy to gain traction in the market.
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June 12, 2017, 02:15:25 PM
 #36

If you ask too much then i will search tau, what bolt you ask too much ??
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June 12, 2017, 03:24:02 PM
 #37

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?

How could you transfer your money to other person , when I say money I mean fiat and not relying on a 3rd party?
Be it a bank , wu or a pigeon?

A decentralized exchange means it's you and the other guy.
But you have to pay him the $ and he has to receive them.

How will that work if you're not face to face with him?

You might check https://bitsquare.io/ but they are far away from what you want


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June 12, 2017, 03:36:09 PM
 #38

I wish someone would establish an exchange on international waters or on a private island and that exchange wouldn't require any verification or personal details. No government would be able to influence it and force it to share the identities or IPs of its users. If someone finds a way to make such an independent exchange he's going to make millions on it.

This makes no sense, absolutely

If someone establishes an exchange in the international waters or on a private island, it can be easily hijacked by terrorists or their likes (or some rogue government agencies). Apart from that, top exchanges need the fastest Internet available today to remain competitive. I don't really know how you are going to achieve that on an isolated island. Further, such exchanges as Bitfinex are already mostly virtual, i.e. they exist entirely in cyberspace. Indeed, they have some physical presence since they still need processing capacity, read they need servers and other equipment as well as staff, but this is by far a better approach
But I think they still can be forced to give up personal data of their customers.
If they register in a certain country they have to obey its laws and can be pressured by the government to shut down. I hope there are still countries that value people's privacy and wouldn't do it, maybe those countries will become a safe haven for Bitcoin exchanges

Registration doesn't mean a thing today

I've recently read about some online bank which is registered in 3 (!) entirely different countries under different names and titles. Further, many companies (and exchanges fit into this category quite well) are registered in offshore territories like Belize, Andorra, Marshall Islands and similar jurisdictions (most certainly for tax purposes). Obviously, they are in no way tied to these areas, and if their registration is annulled (for whatever reason), they may easily register elsewhere

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June 12, 2017, 03:54:19 PM
 #39

check out https://nvo.io/index.html

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June 12, 2017, 03:59:14 PM
 #40

If they can be turn into physical asset, I think goverment will not just stay still instead they will make advance regulation for bitcoin which I'm consider that you must pay some tax for owning that. It's really different compare gold that found on nature and bitcoin found on data through cryptography

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