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RE: Things Cryptocurrency Enthusiasts Are Telling You, but You're Probably Ignoring

in #cryptocurrency • 7 years ago (edited)

Nearly all exchanges are electronic now. Ferris Bueller and Trading Places type exchange floors are all but extinct. So that human factor has been removed.

For trading, I'm interested in finding a trading exchange with a whole lot of volume first then maybe decentralized later. A large volume of trading gets fills so much better it often wipes out profits of harder to trade securities of any type.

If decentralized exchanges can bring the volume of traders together then of course it'll be better than centralized as we eliminate the single point of failure attacks by theft (political or otherwise).

Either way, I think holding in a wallet outside of the exchange also seems more important than central|decentral exchange.

Funny that having looked on this for months now, politicians (read statists) might have more to fear from the singularity & block-chain than any other profession. LOL

7 years ago in #cryptocurrency by
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     7 years ago 

    I see it as a chicken or the egg problem. Decentralized exchanges like OpenLedger will not have the volume we want it to have if we continue to use other exchanges which have more volume.

    I agree, wallets should be kept off exchanges and secured individually, but at some point we have to decide what we value more: easy profits or a long-term, decentralized future.

    And yes, I also think (and hope) that intelligent systems will replace monopolies on force within a geographic region. :)

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     7 years ago 

    I'd agree on the chicken & egg idea. Do you know a good current comparative review of decentralized exchanges? Google search of Steemit seems to not be very good for results. I might be willing to start with some crypto options trading.

    The idea of being concerned about wallet comes from keeping the "savings" much more out of federal reach. I understand active trading funds in my present world are not in such a status. However, if we can move to decentralized exchanges for non-government safety, then we should be able to have wallets for that safety as well. It seems parking in Monero seems a good safe space? LOL

    Thanks for getting my mind going in this area.

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