Bitcoin, Privacy exchanges, and KYC verification

[5W-KILO]

How will a Bitcoin world without the existence of centralised exchanges be like?

What if this is all we had all along?



Can anyone tell me why CZ decide to go with DEx rather, and abandoned Binance?

kYC was a bad idea after all, but we can't control what others do with their Bitcoin, I'm then wondering why this is looking like something that's possible, I believe it would have been a better world without centralised exchanges right from the start.

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

[Bitcoin-Forever]

How will a Bitcoin world without the existence of centralised exchanges be like?

The centralized exchange are the number one interest to our privacy and until we understand why we should completely avoid them and go for privacy that we are expected to enjoy from bitcoin network, anything that demanded for your kyc does not support your privacy.

What if this is all we had all along?

Bitcoin was never introduced to be used on a centralized exchange, we decided to engage such and that is why we are to engage the use of a decentralized exchange or maintain the use of a non-custodial storage.

[_act_]

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

When many people on this forum will prefer BCA, using the bitcoin gotten from the signature campaign they are participating in. Do not mind me that I used BCA. What I mean their is bitcoin cost average, that they do not buy bitcoin with dollar but they are receiving it from the signature campaign that they are on this forum.

[Donk1]

Can anyone tell me why CZ decide to go with DEx rather, and abandoned Binance?

I do not really think CZ abandoned Binance. Basically he left because of the troubles with U.S. law enforcement regarding their rules against illegal money which Binance was part of, so it all makes sense as to why he left. Best to say Binance is still a big centralized exchange, and even with CZ leaving, Binance is presently run by a new CEO named Richard Teng.
​
You can verify the official details on this link : https://www.justice.gov/archives/opa/pr/binance-and-ceo-plead-guilty-federal-charges-4b-resolution?hl=en-GB

[Obim34]

How will a Bitcoin world without the existence of centralised exchanges be like?

Still good, we will have a working system, but not without both advantages and disadvantages.

kYC was a bad idea after all, but we can't control what others do with their Bitcoin, I'm then wondering why this is looking like something that's possible, I believe it would have been a better world without centralised exchanges right from the star

Centralized exchanges is an option, if you don't like submitting KYC, you can stand out from the majority.

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

Bought a little without centralized exchange, wasn't from a DEx either, it was peer to peer, but not recommendable in place of CEX.

[Lida93]

How will a Bitcoin world without the existence of centralised exchanges be like?

The centralized exchange are the number one interest to our privacy and until we understand why we should completely avoid them and go for privacy that we are expected to enjoy from bitcoin network, anything that demanded for your kyc does not support your privacy.

Literally you can't really blame it all on the centralized exchanges who demands for KYC because if a lot of them were to be given the choice of not bothering about demanding for KYC (which intrudes users privacy), am sure a lot of them would oblige to the choice of no KYC. But then, not out of spite but to remain in business they just have to comply with regulatory authority to avoid a closedown.

Nonetheless, like an all-interest-playing-field, we as users and most especially for those of us who care much about our privacy, we're left with no choice but to turn towards the side that protects our privacy - no KYC tools.

[tbct_mt2]

How will a Bitcoin world without the existence of centralised exchanges be like?

What if this is all we had all along?



Can anyone tell me why CZ decide to go with DEx rather, and abandoned Binance?

DEX is the future, we know that, CZ knows that, but we know about another thing: governments will try to tighten more regulations on this industry, as they basically don't want money loss if citizens can avoid taxation. CZ already posted about that a long time ago, a few days after he officially stepped down as Binance CEO, it's not a new news at all.

I don't know in the future, how much space left for developers and DEX because almost no developers want to be imprisoned just because of their developments and contributions for a DEX.

kYC was a bad idea after all, but we can't control what others do with their Bitcoin, I'm then wondering why this is looking like something that's possible, I believe it would have been a better world without centralised exchanges right from the start.

Not only risk from KYc, but also about your money.
Reminder: do not keep your money in online accounts.

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

Trade OTC, in person, with bitcoin and cash, it's safe but of course you must trade with a trusted person. Otherwise, there will be risk of physical attacks that is not worth to try.

There are DEX, no KYC like Bisq, but I have never used them, honestly.

[Mpamaegbu]

Without Cexs, governments of the world would criminalize Bitcoin. That was the initial issue Bitcoin had because government had to see users as doing something criminal with it. With that in mind, Bitcoin wouldn't even be where it's today. Its growth, expansion and adoption would be stunted.

[KiaKia]

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

When many people on this forum will prefer BCA, using the bitcoin gotten from the signature campaign they are participating in. Do not mind me that I used BCA. What I mean their is bitcoin cost average, that they do not buy bitcoin with dollar but they are receiving it from the signature campaign that they are on this forum.

Some of those Bitcoin must have come from exchanges too because Bounty managers got those deposits from casinos who are running promotions on the forum, they must have bought them Bitcoin from exchanges too.

The only way to stay clean is to either buy using P2P or get them from miners and pay up, I still think that centralised exchanges plays a good role making Bitcoin reachable for some people, not all.

I am talking to those who can't even hold their Bitcoin in a cold storage, those who prefer to let Coinbase do the holding for them, hate it but people still prefer this than taking such responsibility themselves.

I don't like Centralised exchanges too, but it was easier to get Bitcoin in those days the first sets of exchanges in this space, like Bitcoin market.com and Mt.Gox, it was right there from the start, it was later we had Peer to Peer platform called Libertystandard.

[Cookdata]

How will a Bitcoin world without the existence of centralised exchanges be like?

It will run fine, the centralized exchanges are popular because they are compliance, will listen to the government. Dex care less about the government and some how they are brought down. If not for government interventions and crackdown, with this frequent disappointment from cex and their compulsory KYC, people would have left them for long.

What if this is all we had all along?



Can anyone tell me why CZ decide to go with DEx rather, and abandoned Binance?

How does this post from Bitcoinnewscom related to Binance and CZ? This is the original post from X: https://x.com/bitcoinnewscom/status/2079889254830764489 which highlights a test about a dark pool prototype by some developers.

I'm trying to understand how this Binance and CZ comes into the conversation because I don't think this is related to Aster, that's the Dex for Binance and it run on BNB chain which according to the public info, Binance doesn't own it or CZ. It's operated by some team but Yzi lab the Binance venture capital had some investment on the project, so why CZ or you just coin this for attention huh?

[Dr.Bitcoin_Strange]

How will a Bitcoin world without the existence of centralised exchanges be like?

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

If there was no centralized exchange, it would have greatly encouraged the adoption of Bitcoin via p2p buying or selling, but I don't think it would have been possible for traders to trade with leverage like they do on the feature options of centralized exchanges, maybe it would have just been brokers that would be used for such trading.

I have always use CEX for DCA but I'm using exchange that I have not submitted any KYC information, just my email attached to the exchange and I bind it with google authenticator.

[HelliumZ]

How will a Bitcoin world without the existence of centralised exchanges be like?

What if this is all we had all along?

Can anyone tell me why CZ decide to go with DEx rather, and abandoned Binance?

kYC was a bad idea after all, but we can't control what others do with their Bitcoin, I'm then wondering why this is looking like something that's possible, I believe it would have been a better world without centralised exchanges right from the start.

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

If we had started without a central exchange from the beginning, life would have seemed normal to us and we could have lived without a central exchange very naturally. However, I have not yet done Bitcoin DCA using a decentralized wallet or using an exchange.

I will not do a proper review of your second part, but the only reason why Binance's former CEO CZ left his beloved exchange Binance was that if he had kept that central CEO, he would have been sued and imprisoned. And he would have been in prison by now.

[Die_empty]

Can anyone tell me why CZ decide to go with DEx rather, and abandoned Binance?

kYC was a bad idea after all, but we can't control what others do with their Bitcoin, I'm then wondering why this is looking like something that's possible, I believe it would have been a better world without centralised exchanges right from the start.

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

CZ was permanently banned from managing Binance as part of his plea bargaining with the US government. He didn't voluntarily abandon Binance. However, he still owns about 90% of the company.

In some cases, these centralised exchanges shouldn't be blamed for strict KYC application. Goverment policies keep changing, forcing them to ask for more information from users. The government doesn't want to lose grip of the crypto industry, and these CEXs have become the major tool of control.

I have used CEXs several times for trading. However, a world without CEXs is possible if there is high Bitcoin adoption in most countries.

[aoluain]

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

Bought a little without centralized exchange, wasn't from a DEx either, it was peer to peer, but not recommendable in place of CEX.

I have used only P2P platforms for the last 3 or so years for FIAT to BTC transactions and never had an
issue, for me now they are preferable to any CEX.

Anyone who values their privacy will be using non KYC / decentralised exchanges.

Every attempt to provide a decentralised privacy focussed exchange has to be welcomed by everyone,
or indeed any service with helps us to engage ^{buying, selling and trading} with Bitcoin anonymously,
so if CZ is building? a DEX - great.

[Wiwo]

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

Yes and on few occasions I have bought bitcoin off individuals directly through p2p.

I belong to a group, where individuals share their avaliable bitcoin for sell, since we are a group of mutual people, we send fiat and receive the Bitcoin into our custodial wallet.

[m2017]

How will a Bitcoin world without the existence of centralised exchanges be like?

We will never know, because centralized exchanges are beneficial to regulators, convenient for users, and have filled this niche.

What if this is all we had all along?

What exactly was it? A world without centralized exchanges? You seem to be dreaming, huh?

Can anyone tell me why CZ decide to go with DEx rather, and abandoned Binance?

Please direct this question to CZ. No one can explain this better than him.

kYC was a bad idea after all, but we can't control what others do with their Bitcoin, I'm then wondering why this is looking like something that's possible, I believe it would have been a better world without centralised exchanges right from the start.

How would centralized exchanges without KYCs fit into your ideal world?

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

You have a rather unusual manner of communicating. You started with one topic and now you've jumped to DCA. What does this have to do with everything you've said above?

I'll be honest, so I have a counter-question: what idiot not smart would use DCA over a centralized exchange?

[Joy_learns_crypto]

Tell me, have you ever DCA into Bitcoin without using Centralised exchange? Be honest.

You should be asking how do you DCA into bitcoin without using centralized exchange, you should not care about our honesty on if we have DCA into bitcoin without using centralized exchange but how anyone is doing it, people do earn the bitcoin directly and just save it up so it is a good information to know for those who earn in other currencies but want to build a bitcoin portfolio for themselves.

[Khaleedmaine]

Centralized exchanges may have accelerated Bitcoin’s adoption, but they also delayed many users’ understanding of self-custody.

[Zaguru12]

I'm trying to understand how this Binance and CZ comes into the conversation because I don't think this is related to Aster, that's the Dex for Binance and it run on BNB chain which according to the public info, Binance doesn't own it or CZ. It's operated by some team but Yzi lab the Binance venture capital had some investment on the project, so why CZ or you just coin this for attention huh?

I still think people actually misunderstands CZ role at Aster. Many people relate aster to CZ because of his public support to the token when he bought around $2M worth of the Aster token then and this helped the hype around it when it got lunched then. Plus YZI lab which CZ and some binance executives own are actually a minority investor of the Aster DEX, and this is the only place where CZ actually comes close to been and investor there, there is nothing like him actually owning Aster.

If we had started without a central exchange from the beginning, life would have seemed normal to us and we could have lived without a central exchange very naturally. However, I have not yet done Bitcoin DCA using a decentralized wallet or using an exchange.

Bitcoin actually started perfectly without a centralized exchange and you can actually find that fact on this forum. Most early investors were trading here using the P2P method.  Centralized exchanges actually came in later buy but bitcoin started without it, if I am not mistaken the first biggest public centralized exchange then was actually MtGotx

[lionheart78]

How will a Bitcoin world without the existence of centralised exchanges be like?

Bitcoin world without the existence of centralized exchanges will be fine but will surely be slow when it comes to adoption.  Centralized exchanges play huge part in promoting Bitcoin, it also gives people easy access to Bitcoin market.  If we look at the trading volume between centralized and decentralized exchanges, we will see that centralized exchanges trading volume overwhelm decentralized exchanges.

What if this is all we had all along?

If Bitcoin market can only be traded on decentralized exchanges, I believe there will be lesser people who are involved in Bitcoin trading.  Bitcoin adoption won't be this big.

kYC was a bad idea after all, but we can't control what others do with their Bitcoin, I'm then wondering why this is looking like something that's possible, I believe it would have been a better world without centralised exchanges right from the start.

For those who are seeking privacy, yes KYC is a very bad idea, but I don't know whether it would be the same for those who think KYC is fine.

Tell me, have you ever DCA into Bitcoin without using Centralised exchange?

Most people use centralized exchanges to DCA, due to their convenience and liquidity, I also use centralized exchanges to DCA.