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bitcoinmar
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February 23, 2019, 09:33:38 AM |
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What does DEX mean? decentralized exchange.lol
I guess Binance DEX will bring a different perspective to the meaning of decentralized exchange. Until now, the decentralized exchange seemed useless, but many things will change if the name is Binance.
Exchange concentrates are not necessarily useless, but they still do not have many advantages over centralized exchange. But Binance is developing a product that has the advantage of concentration and decentralization like Binance CEO said. Also one thing that makes Binance DEX not completely decentralized is that it will charge $ 100k for any coin that wants to be listed on it. |
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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tokenlife (OP)
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February 23, 2019, 09:52:29 AM |
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since they are enforcing KYC on nearly all of their users nowadays and also they are under a lot of pressure from the government and that will only increase over time, i am going to say with confidence that what they create is NOT going to be decentralized.
basically every time you see a "company" create something, it can not be decentralized and even if they call it that, it won't make it so.
The fact that half of Binance Chain nodes will belong to Binance proves that DEX is not quite decentralized. But we will see how that thing will go. Gaining popularity will make some people parse into database the chain records and if something changes shit will float above water anyway. That is some kind of overvwatch. Lets see what the chain will look like. |
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r32godzilla
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February 23, 2019, 10:00:54 AM |
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I hope that more exchanges will follow Binance and they will create decentralized exchange solutions and then crypto will be finally decentralized.
Vitalik Buterin has same opinion about that.
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yslyv
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February 23, 2019, 10:11:18 AM |
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bnb will go up ofcourse. because of launch pad. when natural demands to binance token will increase for the ico launches, price will increase more and more. bnb is one of the good things to invest.
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turn the page
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Red-Apple
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February 23, 2019, 10:18:47 AM |
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those are two difference questions that are somewhat unrelated.
first binance is a centralized exchange and even if they create something and call it DEX it won't be decentralized, it will only have the illusion of it. and if i wanted to use a DEX i would choose one of them that is actually decentralized not this one. but i would continue using the centralized version of their platform which is binance.com website
second is BNB price, it doesn't matter whether their new platform is a DEX or not, BNB can get pumped with the hype alone or it can get dumped as whales take advantage to unload their bags.
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--signature space for rent; sent PM--
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bartolo
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February 23, 2019, 11:08:56 AM |
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One more thing is that you do not trade tokens at Binance DEX, but trade b-tokens, at the rate of 1 b token to 1 real token. In order to exchange your b-tokens for regular tokens, you need to come to CEX in any way. This is all done in order to increase the rate of bnb.
Does this apply to all tokens or only to BNB tokens? Is people really required to go through Binance CEX before and after using their DEX? In any case, and based on the information provided in this thread, I would say that their DEX will be just a non-custodial exchange. |
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Febo
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February 23, 2019, 05:09:42 PM |
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Binance DEX is decentralized or not?
I dont believe right now any exchange is fully decentralized. There are many exchanges trying to become decentralized one day. But to achieve that there is need a lot of developing. One of first exchanges that tried that was https://bisq.network/ at that time named Bitsquare. They started developing before 2013. I believe they are most decentralized of all exchanges at this point of time. Binance still has a fully control over its exchange site and it means if that was not truly decentralized exchange site. I have heard bitsquare but there was a possibility if that could be centralized too. Some people said there was no true dex. There is not. I am telling you. For BisQ I know that is case of dispute solving that dispute is still centralized. But they plan to fix that in future. considering Binance there was a lot said on twitter: https://bitcointalk.org/index.php?topic=178336.msg49874446#msg49874446 |
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bigcash2011
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February 23, 2019, 05:21:11 PM |
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If binance comes up with a quality interface that represents newbie and user friendly features with no lagging im sure this will put a huge positive effect on bnb value as well.
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Bloodseekers
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February 23, 2019, 05:42:24 PM |
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Binance decentralized exchange ?? NO bro, binance is centralized exchange the have support to help us, the keep our data, keep our email. so isn't decentralized, But if talking about exchange i prefer centralized than decentralized, And i think many people also choose centralized like Binance, About price of BNB, will increase for sure because backup by binance exchange
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davinchi
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February 23, 2019, 06:08:34 PM |
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I believe binance are working on making their exchange fully decentralized which is a good thing and might likely drive the price of BNB token up. Many traders this days prefer to trade on decentralize exchange than a centralized exchange because of being anonymous. People don't want to be monitored on what they do with their money and that's why does that embrace blockchain did in the first place.
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vgk88
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February 23, 2019, 06:43:22 PM |
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I think that Binance DEX is a hybrid exchange. I think that it’s not very bad that Binance Dex works on a centralized blockchain. It’s important that Binance continue to be a good conscientious exchange.
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Jadz
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February 23, 2019, 06:50:33 PM |
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It has only a few nodes, how it can be called as "decentralized" exchange ?  |
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Ucy
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February 24, 2019, 05:33:10 PM |
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Op post is a bit confusing. In one part he said the tokens will be listed for free and in another part said developers will pay $100,000 in bnb to list on the decentralized exchange. How much exactly is going to be paid for listing?
How permissionless is the exchange by the way? . Why does the exchange hold people's private? It is a bit scary idea.
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tokenlife (OP)
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February 24, 2019, 09:55:50 PM |
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Op post is a bit confusing. In one part he said the tokens will be listed for free and in another part said developers will pay $100,000 in bnb to list on the decentralized exchange. How much exactly is going to be paid for listing?
How permissionless is the exchange by the way? . Why does the exchange hold people's private? It is a bit scary idea.
The rumors say listing on DEX will be $100.000. Take into account that you will be trading tokens on Binance exchange which are equivalent of tokens or coins and not the coins. So it will be BTC-B and not BTC. |
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tokenlife (OP)
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February 24, 2019, 09:57:33 PM |
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I think that Binance DEX is a hybrid exchange. I think that it’s not very bad that Binance Dex works on a centralized blockchain.
That is right. We will see what will happen next. |
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Osayo
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February 24, 2019, 10:15:51 PM |
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Is Binance really going to start its own decentralized exchange like Idex or ForkDelta? I think it will be quite an interesting thing as Binance credibility is already well known across the crypto community. This will lead to an unprecedented growth in its BNB token too.  |
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Psynthax
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February 24, 2019, 10:32:35 PM |
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I think that Binance DEX is a hybrid exchange. I think that it’s not very bad that Binance Dex works on a centralized blockchain. It’s important that Binance continue to be a good conscientious exchange.
DEX is not an hybrid exchange site but the developer still has the full control over the exchange site dude. But this party can be trusted and it's not a big problem as long as the team can still become the trusted guys. |
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zulfi125
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February 24, 2019, 11:07:40 PM |
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As you know binance DEX is going well and will be upgrade more their DEX in coming days and BNB will grow more in future and more token will be trade able in binance DEX in coming days.
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quality.crypto
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February 25, 2019, 05:35:34 AM |
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It is impossible to guess the things at the beginning of their DEX platform because with the HYPE the price of BNB is kept increasing, Yes, DEX platform is one of the major improvement for the companies launching their ICO under this Binance blockchain.
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tokenlife (OP)
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February 26, 2019, 08:41:48 AM |
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It is impossible to guess the things at the beginning of their DEX platform because with the HYPE the price of BNB is kept increasing, Yes, DEX platform is one of the major improvement for the companies launching their ICO under this Binance blockchain.
That is right. The worlkflow where you can launch an ICO, collect funds and then get listed at least on DEX within one ecosystem can become a game changer. |
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