MadeinCoin
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June 29, 2019, 06:44:40 PM |
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Since bitcoin is programmable, is it possible that many people just trade through command line under Linux? This way, we could avoid fees related to exchanges.
It is not possible to trade with one line coding. However, there are options to trade without visiting any exchange. Personally, I prefer trading via OTC with allow me to be connected with other buyers/sellers directly without any need of joining an exchange and pay high fees for that. Well, well, now if you become a buyer and buy through OTC, will you just trust the seller? I think here the role of the exchange is very important to maintain the security of your trade compared to through the OTC market.
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Shenzou
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June 29, 2019, 07:49:44 PM |
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Since bitcoin is programmable, is it possible that many people just trade through command line under Linux? This way, we could avoid fees related to exchanges.
You can do trading without an exchange but it varies depending on what are you trading and when you are trading and especially how much are you trading , say for example you buy some bitcoin and you hold it for quiet some time and than you want to sell it, you can either spend some a long time looking for a trusted buyer with a good price and take the risk of doing that or you can just use an exchange easily without any trouble, but say if you are trading multiple coins than you have to use an exchange because i don't think that you can find any peer to peer sites where you can exchange altcoins.
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Harlot
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June 29, 2019, 08:14:19 PM |
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Yes you can. You can even trade here in the forum with the currency exchange section we have, like a normal exchange you can set the price on what you want your coins to be sold minus the commission, the only downside is you would have to wait for someone to match it which I don't think would be an advantage if you are actively trading. Some Crypto Wallets also allow you to change your crypto to another crypto or fiat but expect them to have the better deal when it comes to rates. Best option for you right now is to really look for 3rd party traders that are looking for a straight swap and expect that there are a lot of scammers in this area.
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olamidey
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June 29, 2019, 08:52:55 PM |
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You will always need an exchange in crypto trading. It's very much needed as not all coins could be sold in P2P. Your friends may not want to buy the tokens you want to sell so you have no other option than to sell on exchange.
For bitcoin, Eth and some commonly traded altcoins, you can sell on P2P amount your friends and in some cases use escrow to avoid scam
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Irvinn
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June 30, 2019, 11:10:45 AM |
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You will always need an exchange in crypto trading. It's very much needed as not all coins could be sold in P2P. Your friends may not want to buy the tokens you want to sell so you have no other option than to sell on exchange.
For bitcoin, Eth and some commonly traded altcoins, you can sell on P2P amount your friends and in some cases use escrow to avoid scam
Recently, escrow or escrow becomes more relevant, since a third party is involved here, with which you can receive certain guarantees subject to all the conditions of the contract.
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bitbunnny
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June 30, 2019, 11:26:11 AM |
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There are some possibilities to trade outside exchanges, some options are here on forum too based on P2P. But honestly I wouldn't recommend it. I would say that no matter some disadvantages exchanges are still the best places to trade. They are regulated and monitored and in.case of some issues you have at least some coverage and protection. On informal trading platforms the risk is all yours.
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b3llsf1l3s
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June 30, 2019, 12:01:09 PM |
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Since bitcoin is programmable, is it possible that many people just trade through command line under Linux? This way, we could avoid fees related to exchanges.
I thought it wouldn't work. Exchange owners create websites and interfaces so they can understand how they work even though they are basically the same. However, if it is changed in the form of a Linux command, many people will not understand this. Moreover, fees have become the basis of miners, so we can't change terms and conditions
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buwaytress
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June 30, 2019, 02:43:24 PM |
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Got to bear in mind that just because you're not using an exchange doesn't mean you're not using something to facilitate the trade. The simplest non-exchange, non intermediary trade is between 2 people directly... but these 2 people aren't likely to ever meet without having a platform to see each other. I do plenty of p2p on Localbitcoins, so it's me and some other guy trading, but we're still putting our trades up on a platform, still allowing the platform to escrow our funds... still need to keep our BTC on that platform.
But that's a necessary form of security to me, which is the same on Bisq (another p2p). You ensure you don't get cheated (or minimise the risk of such anyway). It's a far better option that an exchange (trusting the exchange to keep your funds safe and honour withdrawals), or from meeting some guy blindly in a cafe hoping he'll pay you for BTC.
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RebeccaFrei
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June 30, 2019, 02:58:07 PM |
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I guess it's could be possible between 2 computers in some local network. However, to interact with the entire world you should use exchanges, for sure.
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The Cryptovator
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June 30, 2019, 04:20:54 PM |
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I think still now it's not possible to trade without exchange. Perhaps it would be on future if there is latest technology. Currently we need exchange like centralize or decentralized or we need use web wallet in order to trade. We have to pay fees when we are using thier party exchange. We can't avoid it.
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Findingnemo
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June 30, 2019, 04:40:51 PM |
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Trade can be done if there is a buyer and seller so there is no need for any medium like exchange but now it is indeed since we don't know who want to buy our cryptos so using the exchanges or P2P to find the trades as we wanted.
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DoublerHunter
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June 30, 2019, 05:12:06 PM |
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I think still now it's not possible to trade without exchange. Perhaps it would be on future if there is latest technology. Currently we need exchange like centralize or decentralized or we need use web wallet in order to trade. We have to pay fees when we are using thier party exchange. We can't avoid it.
^ I agree with you because exchange stands a third party between the two traders and of course it is lower the risk among of them exchange acted as an escrow. However, trading without exchange is possible but of course, those who trusted most you like to deal with. Perhaps there's the system in the future that we can trade like Linux but as of now, we need these decentralized and centralized exchange and also fees included.
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shoreno
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June 30, 2019, 06:12:49 PM |
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what kind of question is this ? by the way , this is pretty easy and the answer should be yes . it is still possible to do trade without online exchange because we can still trade with real people . trading with real people is infact cool because you gotta know them and you can make friends with them plus it also cuts the trading fees ( the one that we pay when we use online exchangers ) . but make sure that you transact on crowded and guarded areas so that you will be safe .
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maxreish
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July 01, 2019, 07:11:03 AM |
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Since bitcoin is programmable, is it possible that many people just trade through command line under Linux? This way, we could avoid fees related to exchanges.
It is not possible to trade with one line coding. However, there are options to trade without visiting any exchange. Personally, I prefer trading via OTC with allow me to be connected with other buyers/sellers directly without any need of joining an exchange and pay high fees for that. Well, well, now if you become a buyer and buy through OTC, will you just trust the seller? I think here the role of the exchange is very important to maintain the security of your trade compared to through the OTC market. That is why there should be a third party involvement like exchanges for security purposes. Yes, fees are quite high especially in btc. Except if you don't want fees to pay, directly transactions is another choice. Like trading btc and do some transactions directly with acquintances or people you may know. In that case, both security and the fees are already solved.
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Mr Zet
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July 01, 2019, 11:42:59 AM |
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Kinda possible. You can buy coins on some websites focused only on it (like buycoinnow.com or something similar) and then hold them till the time will be right. But in the end, you will have to register on exchange after all.
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1Referee
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July 01, 2019, 01:06:00 PM |
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I have seen altcoins have an in-built 'exchange' feature where people can trade from within their client without a third party, but that would be something that's not really convenient to do with Bitcoin due to the fees. I think that Lightning will be a major game changer in this field with how you can exchange funds in an instant and at almost no cost.
People have to understand that development of these non profit features is very slow because it cost time and money for developers to work on this. Give it a few years.
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el kaka22
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July 01, 2019, 03:53:39 PM |
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Since bitcoin is programmable, is it possible that many people just trade through command line under Linux? This way, we could avoid fees related to exchanges.
You do not even need linux, if you trust the other person just send money to someone and they will send it to your bank account. That is how I did it back in the day when my country didn't have any local exchanges and it was working fine but it was risky since I didn't know who was sending me money and I needed to trust that person. Exchanges are more trustworthy than people but even today you can find OTC places to do that type of no fee exchange if you want to. The reason why exchanges exist and liked so much is that people don't need to trust anything since they know they can trade as much as they want and withdraw afterwards if they want to. All you have to trust is the exchange itself and exchanges are making a ton of money so no reason to not trust them as long as they are not hacked.
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davinchi
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July 02, 2019, 06:42:19 AM |
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Since bitcoin is programmable, is it possible that many people just trade through command line under Linux? This way, we could avoid fees related to exchanges.
I don’t see the possibility of people exploring that option, there must still be involvement of third party like exchanges to have a smooth running trading, if we trade without exchange,, how then would people be able to convert their earnings into fiat or withdraw it completely, I think this sort of system you see is what BOTS are using, but in the end, they must still pass through an exchange to be traded fully into Fiat. Moreover, what is the trading fee we are talking about for us to be running away from fee, BAINCE has the lowest fee till date for now, and the fee is so insignificant that you can almost not notice anything leaving your fund as fee, and it is even greed to me for you to use a service without desiring to give in return no matter how little. We have not even encouraged people to accept Dapp exchange, not to talk of your idea.
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futureofeth
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July 02, 2019, 07:02:04 AM |
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i will say yes and No, it depends on which type of trade. you can do trading without exchange if for example, you trade your coin with direct goods item probably still online to be delivered. i will say you cannot if you will need to transfer your coin directly from your wallet into your personal bank account.
Yes, you are right but it completely depends upon the currency you are converting because when you want to trade them into your local currency you need to search those direct trading in your country. Still, it is impossible for us to send the coins to banks because banks are not supporting the blockchain yet.
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xSkylarx
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July 02, 2019, 09:21:52 AM |
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Kinda possible. You can buy coins on some websites focused only on it (like buycoinnow.com or something similar) and then hold them till the time will be right. But in the end, you will have to register on exchange after all.
It's just simply buying not selling. Trading without using an exchange platform is impossible right now. Banks don't support yet the use of blockchain technology. If you use peer-to-peer exchange it might be a hassle if you want to make profit from it as.you will need to find many people that offers that kind of service.
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