We need decentralized exchanges

[samdan777712]

The developer of Blocknet actually said i n  a video that he has spoken to another dex called DYDX and he would really like to incorporate margin into a DEX. The future should be 100% decentralized open source margin trading.

I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.

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[OmegaStarScream]

The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.

[Annisa_crypto]

Developer do love such exchanges. Even if we understand the decentralized exchanges are good. it is very hard to understand from the UI of a decentralized exchange. This is my personal experience.

[Bttzed03]

The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.

There are DEX's now that are much easier to use than the old etherdelta, at least for me who has been around for a while. But despite the efforts of these exchanges to improve user experience, only a small percentage of traders still uses them. Maybe because of convenience as you mentioned and also because of the lesser volume.

[btc-facebook]

DEX in the future will definitely be needed, and decentralization will also be of little interest because there are many news about hacking,
this is one of the trigger factors dex will be in demand later,
but maybe we should wait for the cryptocurrency to be adopted massively, so that later many people will use dex instead of centralizing exchange.

[figmentofmyass]

The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.

it's not just about security/third party custody. it's about inability to enforce KYC. the USA is even going after bitmex now (even though USA traders have been banned there for years), apparently for allowing americans to access the site via VPN. if the american government has their way, all the biggest margin and derivatives exchanges will be forced into mandatory KYC. that could make decentralized margin trading all the more attractive.

there's definitely a big niche for this but i'm skeptical blocknet is anywhere close to production ready code. it could take several years to make this happen, even with a clunky, buggy interface.

[Slow death]

I have some questions:

Let's assume 100% of the exchanges were decentralized, how would people buy bitcoin using their debit cards?

And if it were possible for people to buy bitcoin with their debit cards on these decentralized exchanges, would banks not close accounts on these decentralized exchanges because they would not be demanding KYC?

For everything to work very well: governments need to create regulations that are good for cryptocurrencies, banks must be more  friendly of exchange and exchanges must be more responsible and offer good quality services.

[figmentofmyass]

I have some questions:

Let's assume 100% of the exchanges were decentralized, how would people buy bitcoin using their debit cards?

decentralized exchanges can't have with real fiat inflows/outflows. they can only use decentralized assets (like bitcoin or ethereum) or tokenized assets (like tether).

if regulatory/KYC pressures become great enough, we could start seeing hawala markets emerge---secondary p2p markets for stablecoins where eg buyers pay cash for stablecoins and no fiat is moved at all. in fact, with DAI this could be done entirely without third party custody.

[hanniabu]

i'm skeptical blocknet is anywhere close to production ready code

Your username is quite fitting considering the exchange has been live and in use for over a year. The project has been around since 2014 and have pioneered a lot of R&D in the space. Unlike other projects launched in the 2017 bull run and after, Blocknet isn't another vaporware projects promising the sky and delivering nothing.

[joniboini]

There is a rumour out there saying that Binance DEX will also support margin trading. It's still a rumour but the possibility of that coming is no unthinkable. Especially after Binance CEX also support margin trading.

I never heard about DYDX but hopefully, it could prove to be a worthy competitor of Binance.

[Distinctin]

The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.

Decentralized can't beat the centralized exchange, they are just an option for those people who can't and don't want to use the centralized exchange for whatever reasons. But let's admit, having them in the crypto space is always a big help and it serves traders that are not serve by centralized exchanges.

[rroyk]

We are making both CEX and a DEX for margin trading.
after completing the above, we would make our goal to make a functioning dex that will overtake cex.

[xvids]

The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.

Decentralized can't beat the centralized exchange, they are just an option for those people who can't and don't want to use the centralized exchange for whatever reasons. But let's admit, having them in the crypto space is always a big help and it serves traders that are not serve by centralized exchanges.

But let's face it most people like decentralized exchange but couldn't use it on every crypto.
We are stuck in centralized because most of the famous and known exchange are CEX.
But if there would be a DEX for all crypto why wouldn't people choose it?
After all crypto is design for being decentralized for anonymity and for financial freedom to be out from those third parties .

[Distinctin]

The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.

Decentralized can't beat the centralized exchange, they are just an option for those people who can't and don't want to use the centralized exchange for whatever reasons. But let's admit, having them in the crypto space is always a big help and it serves traders that are not serve by centralized exchanges.

But let's face it most people like decentralized exchange but couldn't use it on every crypto.
We are stuck in centralized because most of the famous and known exchange are CEX.
But if there would be a DEX for all crypto why wouldn't people choose it?
After all crypto is design for being decentralized for anonymity and for financial freedom to be out from those third parties .

Not this time though, DEX such as Binance and IDEX are not fully decentralized.
Binance blocked certain countries from accessing the exchange and just recently IDEX has announce they'll require a KYC.

https://news.bitcoin.com/decentralized-exchange-idex-to-introduce-full-kyc/

[BitcoinTurk]

Yes, we need decentralized exchange services. Especially today, security, error-free operation and to make fast transactions, such services should increase and enter the quality of our lives. Although this breakthrough came from the pioneering services of the sector, it has not yet received the necessary attention. On the other hand, such services are becoming more and more popular and we will be able to witness decentralized services in the coming years. Although centralized services are gaining more attention today, it seems certain that users will turn to decentralized structures and services in the future.

[vintages]

Crypto traders have been advocating for decentralized exchanges for a very long time.
But it seems achieving this will be hard, as more exchange developers are finding it hard to implement because of states policy.
They work hard in implementing a platform that will be easy to use coupled with maximum security, this in turn replace a decentralized system that they can't provide.

[Thanasis]

The developer of Blocknet actually said i n  a video that he has spoken to another dex called DYDX and he would really like to incorporate margin into a DEX. The future should be 100% decentralized open source margin trading.

I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.

Already there are lot of decentralized exchanges are available but people still using centralised exchanges due to the high liquidity of their coin on centralised exchanges,still decentralized exchanges need to evolve more and convince people that it is more secure trade compared to centralised one and till that decentralized will be used by very few people.

[ololajulo]

The promised Hybridblock decentralized exchange that could have served other platforms asides ethereum was not successful. I don't understand why we have few developments in that area, sadly IDEX is now introducing KYC. Everything keeps changing to favor the government and deny us our anonymity. The interest of some teams to listing their project on decentralized exchange has declined.

[cosmofly]

The developer of Blocknet actually said i n  a video that he has spoken to another dex called DYDX and he would really like to incorporate margin into a DEX. The future should be 100% decentralized open source margin trading.

I actually have some idea of how this could be done. But I encourage you to reach out and advocate to developers to check out projects like DYDX and Blocknet.

Margin trading on DEX is really a new idea, but I think it does not help much for investors. because DEX does not have too many investors there, so margin trading will not work because investors often focus on large exchanges like Binance, Bitmex for high liquidity.

[RealMalatesta]

The problem is that people prefer convenience over safety and security and sadly, the decentralized exchanges are not as newbie-friendly and easy to use as the centralized ones and that's exactly what pushes people away.

And that's it… you already made the point that is needed. Centralized exchanges are very easy to make use of, even someone who is still a newbie will understand everything about it on the first day they are making n use of it and that's because centralized exchanges functions the same way as traditional brokerage/stock markets. So, they are easy to grab than the decentralized exchanges that are a lot hard to understand.

I don't even think this should be a problem to people, we have centralized exchanges and we also have the ones that are decentralized, so these shouldn't be a problem at all, cause you're free to make use of anyone you like. If an exchange decided to become centralized, then it's their choice and you're free to move your money to another platform that is not centralized. Binance, coinbase, Kraken, Bittrex, Bitfinex and other top exchanges are centralized and they are easy to use, especially Coinbase.