After FTX collapse, some call for a return to decentralized roots

[Xal0lex]

A call that's left unanswered, till this day many people are still using centralized exchanges, many funds are been withdrawn from Binance exchange after a false rumour was spread about CZ, but look how fast the exchange has recovered, most of the withdrawn funds are now back on the exchange, I think it's going to take a longer period of time before decentralized exchanges get the proper attention they needed.

As long as fiat plays an important role in trading, centralized exchanges will be popular. There used to be a perception that widespread KYC would lead to an exodus of users and money from CEX. That has not happened. Increased regulation has in no way helped DEX increase its proliferation. For many DEX is uncomfortable and limited, but on CEX everything is very simple, there is convenient tools, there is a book of orders, that is the deciding factor in choosing the type of exchange. Convenience and availability of fiat. CEX wins in these categories.

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[Sethrey]

How to refuse them, if literally everything is tied to Google? If you refuse all applications, you can return to the Stone Age. Thanks to the fact that everything can be done on the Internet, namely, pay bills, order food, pay for the phone, and so on, a lot of time is saved.

I repeat once again - there are alternatives, but they are unlikely to solve all requests. Browser - Tor, search engine - DuckDuckGo, messenger - Utopia P2P (there is also a browser like Tor). Plus VPN and proxy. Payments for services clearly in the crypt can be carried out in different ways or through exchangers, if you don’t want to burn your payment data, otherwise nothing. But each small task will take half a day)

[s.tanishka]

How to refuse them, if literally everything is tied to Google? If you refuse all applications, you can return to the Stone Age. Thanks to the fact that everything can be done on the Internet, namely, pay bills, order food, pay for the phone, and so on, a lot of time is saved.

I repeat once again - there are alternatives, but they are unlikely to solve all requests. Browser - Tor, search engine - DuckDuckGo, messenger - Utopia P2P (there is also a browser like Tor). Plus VPN and proxy. Payments for services clearly in the crypt can be carried out in different ways or through exchangers, if you don’t want to burn your payment data, otherwise nothing. But each small task will take half a day)

Got it! Thanks for the advice. It is good that there are steps that can be taken to minimize the risk of our personal data being stolen, it is a pity that it is not always possible to completely protect information because the Internet is open and interconnected, which makes it vulnerable to cyber threats such as hacking, malware or others. forms of cyber attacks. But if these steps help to solve at least part of the requests, then this is already good.

[Sethrey]

For the closed internet, again, there are decentralized ecosystems on their blockchain like Utopia P2P. Web3 projects can also be attributed here. There, the main snag is that you need to transfer all your surroundings there, but in any case, the connection with the majority will remain in the telegram) Not everyone is ready to switch to third-party software.

[TravelMug]

Yeah and I heard that there are a lot of projects or least tokens for decentralized exchanges as a result of the FTX collapse.

But now sure though, and now like months after the FTX collapse, the data suggests that still traders and investors alike still prefer CEX exchanges and like the top of them, Binance and Coinbase. So I will say that as much as we do call for us to to DEX, I doubt that it will happen because there are still cons about them, like the volume and liquidity.

[wxa7115]

Yeah and I heard that there are a lot of projects or least tokens for decentralized exchanges as a result of the FTX collapse.

But now sure though, and now like months after the FTX collapse, the data suggests that still traders and investors alike still prefer CEX exchanges and like the top of them, Binance and Coinbase. So I will say that as much as we do call for us to to DEX, I doubt that it will happen because there are still cons about them, like the volume and liquidity.

That is just that way humans usually behave, an example of this can be seen when a tragedy happens, you see a huge outcry about what happened and the need to make a profound reform to the way the system works, but then after some times passes all of that pressure disappears and then no change takes place.

This is similar, after the collapse of the FTX exchange there were many voices that wanted for this market to go back to the early days and be more decentralized, but as soon as things calmed down people simply took the choice of using centralized exchanges again, as they offer the best rates and volume.

[vitya1982]

I don't know why people even keep their crypto on exchanges in the first place, it doesn't matter what exchange exactly. I always told that "not your keys - not your crypto". After the FTX collapse more people realized that, but considering the last events with Binance - not many.

[Apocollapse]

I repeat once again - there are alternatives, but they are unlikely to solve all requests. Browser - Tor, search engine - DuckDuckGo, messenger - Utopia P2P (there is also a browser like Tor). Plus VPN and proxy. Payments for services clearly in the crypt can be carried out in different ways or through exchangers, if you don’t want to burn your payment data, otherwise nothing. But each small task will take half a day)

If your purpose is to avoid third party, you only need to use a decentralized exchange e.g. Bisq or Utopia P2P as you have mentioned above.

But if you're want to protect your privacy, it's really hard since you need to use a decentralized coin with a help of mixer or privacy coin, you need to make sure your wallet operated by yourself where you run your own node (not possible if you hold a POS token), and any other steps to protect your privacy.

[s.tanishka]

For the closed internet, again, there are decentralized ecosystems on their blockchain like Utopia P2P. Web3 projects can also be attributed here. There, the main snag is that you need to transfer all your surroundings there, but in any case, the connection with the majority will remain in the telegram) Not everyone is ready to switch to third-party software.

It seems like a new update has been released in Utopia P2P, which allows you to surf the Internet anonymously and quickly through an anonymous browser. I think this will definitely help to minimize the risk of our personal data being stolen.

[wxa7115]

I don't know why people even keep their crypto on exchanges in the first place, it doesn't matter what exchange exactly. I always told that "not your keys - not your crypto". After the FTX collapse more people realized that, but considering the last events with Binance - not many.

Inherently a great deal of people are lazy, how many people imagine themselves as millionaires living a life of luxury? A great deal I am sure, but how many actually imagine themselves working hard to reach that goal for decades to come? Very few.

So if given the chance people will always take the shortest and easiest path, even if such a path is full of danger, and despite the lessons the FTX collapse should have taught to us, many will never learn their lesson until they are directly impacted by it.

[Sethrey]

It seems like a new update has been released in Utopia P2P, which allows you to surf the Internet anonymously and quickly through an anonymous browser. I think this will definitely help to minimize the risk of our personal data being stolen.

I think the point here is not the theft of personal data, but the convenience of Internet surfing. Which is especially true for the CIS countries, where many resources were blocked for one reason or another, and in order to get to them, you need to buy VPN. And here you can easily access all possible sites without additional software and expenses.

[s.tanishka]

It seems like a new update has been released in Utopia P2P, which allows you to surf the Internet anonymously and quickly through an anonymous browser. I think this will definitely help to minimize the risk of our personal data being stolen.

I think the point here is not the theft of personal data, but the convenience of Internet surfing. Which is especially true for the CIS countries, where many resources were blocked for one reason or another, and in order to get to them, you need to buy VPN. And here you can easily access all possible sites without additional software and expenses.

Yes, the advantage of web proxies is that they can help you bypass restrictions and access blocked websites. Also, using third-party apps while connected to a VPN can compromise your privacy as they may not be secure.

[Sethrey]

What about third party apps? The bottom line is that no matter how expensive VPN you buy, there is a chance that there will be a jump in it, even a second, which will contribute to the leak of your real IP. Therefore, many build their anonymity in many stages. But in general, if you are not doing anything illegal, but just want to read a blocked resource, this is not so scary. Unless it's extremist media, of course)

[fvb]

This is a very high-profile case and many investors have been touched to the core, so to speak. Some lost large sums and became very upset. I personally do not have a lot of capital, but initially and in principle I have always been of the opinion that you need to store most of your assets on wallets, and not on exchanges

[jacafbiz]

This has always been the case every time one big Centralised exchange collapse in the space, but there is still a huge gap between DEX and CEX despite all the recent gains for DEX recently, they still have a long way to go before they fill this gap. The fiat onramp is a big problem for DEX they don't know how to solve this issue for now and the issue of liquidity has not been fully resolved despite the success of AMM model. For me, we can just wish for DEX to take control but the present still belongs to CEX

[blockman]

This has always been the case every time one big Centralised exchange collapse in the space, but there is still a huge gap between DEX and CEX despite all the recent gains for DEX recently, they still have a long way to go before they fill this gap. The fiat onramp is a big problem for DEX they don't know how to solve this issue for now and the issue of liquidity has not been fully resolved despite the success of AMM model. For me, we can just wish for DEX to take control but the present still belongs to CEX

It's a long journey for the dexes to finally be preferred by most customers and replace the usage of CEX. There's so much comfortability that CEXes offer and that's why we're also in there. No doubt that they're easy and comfortable no matter what are the fees they make because they're not far from each other. While the DEX, the news that's on them isn't good because we often see news about being hacked and exploited by some of their codes.

[s.tanishka]

This has always been the case every time one big Centralised exchange collapse in the space, but there is still a huge gap between DEX and CEX despite all the recent gains for DEX recently, they still have a long way to go before they fill this gap. The fiat onramp is a big problem for DEX they don't know how to solve this issue for now and the issue of liquidity has not been fully resolved despite the success of AMM model. For me, we can just wish for DEX to take control but the present still belongs to CEX

Remember what DEX were on the market 4 years ago and look at what they have now. How many functions and features appear. There is already a DEX with leverage trading. I think soon we will see DEX where there will be liquidity for tens of billions.

[blockman]

Remember what DEX were on the market 4 years ago and look at what they have now. How many functions and features appear. There is already a DEX with leverage trading. I think soon we will see DEX where there will be liquidity for tens of billions.

Not just 4 years ago but more than that and it was also taken into notice about these dexes. I still remember some of them that became popular but then didn't contain the competition because it's tough. Most of the old Dexes were already forgotten but they were made and used more than 4 years ago contradicting what you've said that they were in existence since 4 years ago. Well, their growth is true. Many of them even if just made a couple of years ago, they've become popular and that's the roots of decentralization that are being completed and continued. But then talking about FTX, there have been news that they're on recovery and looking forward to their comeback but asking people in here about if they'll still use them, I doubt it that many will obliged.

[justdimin]

Remember what DEX were on the market 4 years ago and look at what they have now. How many functions and features appear. There is already a DEX with leverage trading. I think soon we will see DEX where there will be liquidity for tens of billions.

Not just 4 years ago but more than that and it was also taken into notice about these dexes. I still remember some of them that became popular but then didn't contain the competition because it's tough. Most of the old Dexes were already forgotten but they were made and used more than 4 years ago contradicting what you've said that they were in existence since 4 years ago. Well, their growth is true. Many of them even if just made a couple of years ago, they've become popular and that's the roots of decentralization that are being completed and continued. But then talking about FTX, there have been news that they're on recovery and looking forward to their comeback but asking people in here about if they'll still use them, I doubt it that many will obliged.

I think we already have over 10 billion dollars in all of DEX total as well, so it is not really a weird situation to be in. Obviously we are not going to see that in trading volume just yet, but we are seeing it in LP which is all that matters to me, it means that it can cover so much very easily. We are going to see it grow, we are not going to see CEX going away, that will stay as well.

Remember that crypto market is a growing one, so we could see CEX and DEX grow together thanks to market growing as well, some people will move from CEX to DEX whereas CEX's will find new people to join instead of them. This is how the market will continue to grow, it will allow us to do a lot better and surely that is a bright future for all crypto investors.

[Sethrey]

It's a long journey for the dexes to finally be preferred by most customers and replace the usage of CEX. There's so much comfortability that CEXes offer and that's why we're also in there. No doubt that they're easy and comfortable no matter what are the fees they make because they're not far from each other. While the DEX, the news that's on them isn't good because we often see news about being hacked and exploited by some of their codes.

DEXes operate on a decentralized, trustless network, which makes them less vulnerable to attacks and less susceptible to censorship. While there have been reports of hacking and code exploits in the past, many DEXes have taken steps to improve their security protocols and minimize these risks. In fact, some argue that the transparency and accountability inherent in the decentralized model actually make DEXes more secure than their centralized counterparts.