RE: The need for decentralized exchanges

You are viewing a single comment's thread from:

RE: The need for decentralized exchanges

taskmaster4450 (78)in #security • 7 years ago

I agree. The governments of the world are gearing up their attacks on cryptocurrencies and the exchanges are an easy way to target them. DEX could well explode out of government action. We know the bankers are threatened by these tokens which means they are sending the government hacks out to do the dirty work.

Regulation means putting it in the hands of the bankers.

7 years ago in #security by taskmaster4450 (78)

Sort:

marculisse (43) 7 years ago (edited)

Agree. Bitcoin tried to decentralyze payment system, and the moment has come to decentralize crypto market with DEX for exactly the same reasons: exchanges are untrustable just like banks. We have had mt.gox scam, Bitfinex-tether questions (only hypothesis at the moment.. But anyway very important for market stability), bittrex confirmation issues, kraken slowdown.. A lot of elements that underline the needy of a second decentralization wave, directed to replace "traditional" exchanges.

Anyway, personally I don't think that bank are feeling so threatened by cryptos. For a lot of reasons:

Because crypto tecnology is very interesting for banks too (the most evident example is Ripple, but also bankera and other similar project present very interesting business models) and also for governments (see for example the incoming crypto-ruble).
Because crypto market is easily manipulated (not only with futures - 25 billion $ of daily volume wouldn't be so difficult to overpower for a group of great investors like Golmand Sachs and friends).
Because crypto aren't enought developed to substitute traditional money - traditional sistem handles hundreds of milions of transaction/day, bitcoin is near to 400.000 and its is already near to colapse point. Other cryptos, more efficient, are still smaller in terms of market and acceptation.
Because returns in crypto-sector are the paradise of greed and speculation, and greed and speculation are the core business of traditional system and banks.

If governments were so scaried by crypto, they could act exactly as China and kill the crypto economy banning all exchange-market in any moment. But they aren't doing. I am Italian and I was expecting European Central bank to strongly and fast react to all this, but at a public level nothing of this has still happened. For the moment, crypto sector is young and they are probably sill evaluating situation.

But, we need to continue one step at a time. Let's see what happens with futures..

$0.43

3 votes

[-]

taskmaster4450 (78) 7 years ago

All valid points.

However, I feel bankers do not fear if they feel they can gain control of it, hence much of the government speculation of crackdown.

You are right, we will see what happens. There is a lot going on with this market and the next 6-12 months will see great changes.

$0.00

1 vote

[-]

marculisse (43) 7 years ago (edited)

Yes. 12 months ago market cap of all crypto was under 15$ billion and fork-mania didn't exist. Things are changing really fast in this market, we can only observe and continue to study, study and study again

$0.06

2 votes

[-]