Certainly, specially since bitcoin is decentralized, an exchange should be de-cen. as well.
I thouht coinbase took a step towards it.
And this is my point Bitcoin is meant to be decentralized but after 5+ years we are still being robbed by centralized exchanges, i have my doubts about coinbase but that's just personal opinion.
They are centralized and just waiting for the next thief to steal so is it not time we have a world wide decentralized market?
Is a world wide decentralized exchange possible?
Why would they not be? I think the whole point of decentralized markets is they will be free to use and free from bullshit rules and regulations so should be able to be used worldwide.
Again 5 years later we are still here centralized to the maximum
I agree I think the whole point of decentralized markets is they will be free to use and free from bullshit rules and regulations so should be able to be used worldwide.
How would you expect a decentralized exchange to work?
The one thing that could probably be solved in a decentralized way is the orderbook and account balances (mostly just like current blockchains work).
However, getting crypto currencies and fiat into and out of the system is the hard part.
The only viable approach that I know of are the "gateways" of Ripple where the traded currencies are held by entities that you and other exchange users trust. Within the marketplace, you can trade IOUs from these entities freely as long as you find trade partners.
However, I don't see a way of doing this trustless. It is not possible to package the trades into transactions on a blockchain because it is impossible to hold the actual values on a blockchain.
If your think otherwise, provide a proof or at least a plausible idea. Just wishing for something does not make it real or even possible.
Onkel Paul
By the way, the Ripple system basically is a distributed exchange already. It's somewhat lacking on the decentralization (much to my dismay, I've always hoped that it would be more distributed faster), but the basic approach is right.
I will only talk about ripple to say i am talking about them.
In my mind i am hoping for something like Forex, i have no idea about the technical side and how difficult it maybe but surely after all this time some wizz must be able to create one.
So if it was to happen in the next year + and Bitcoin was banned in xamount of countrys will them countrys still be able to use the exchange is closer to what i wanted to ask lol
Cheers for you're input guys.
