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> You aren't trusting an exchange when you send a transaction on the blockchain. This is true, but exchanges have become the de facto on/off ramp for cryptos.

> You aren't trusting an exchange when you send a transaction on the blockchain. This is true, but exchanges have become the de facto on/off ramp for cryptos. If I want to acquire bitcoin without mining, how am I going to do it other than buying from a centralized entity? Edit: As I post this I remembered that Paradex, a decentralized exchange for ERC20 tokens built on 0x, was recently acquired by Coinbase[1], the largest centralized crypto exchange, who in turn might soon be acquired by Facebook[2] 1. https://www.reuters.com/article/crypto-currencies-coinbase/coinbase-acquires-cryptocurrency-trading-platform-paradex-idUSL2N1SU1KK https://www.reuters.com/article/crypto-currencies-coinbase/c... 2. https://www.independent.co.uk/life-style/gadgets-and-tech/news/facebook-cryptocurrency-ban-coinbase-bitcoin-exchange-a8418841.html https://www.independent.co.uk/life-style/gadgets-and-tech/ne...

darawk 8y ago
> This is true, but exchanges have become the de facto on/off ramp for cryptos. If I want to acquire bitcoin without mining, how am I going to do it other than buying from a centralized entity? Sure, that's true. But once you own them, they're yours to do with as you please. You can also buy them from someone peer to peer if you really want to onramp in a 'decentralized' way.
- JumpCrisscross 8y ago
  > You can also buy them from someone peer to peer if you really want to onramp in a 'decentralized' way Now we're back to no advantage over cash or bartering.
  - darawk 8y ago
    Only for the onramp. I know that you know that, too. Why are you arguing disingenuously? You have a reasonable case to make, you don't need to stoop to that.
- funfunfunction 8y ago
  > You can also buy them from someone peer to peer if you really want to onramp in a 'decentralized' way. This makes it seem like you can onramp via an exchange and still maintain all the benefits of decentralization. If I don't onramp in a decentralized way then there will also be a centralized entity with tremendous power.
  - darawk 8y ago
    What do you mean by that?

darawk 8y ago

> This is true, but exchanges have become the de facto on/off ramp for cryptos. If I want to acquire bitcoin without mining, how am I going to do it other than buying from a centralized entity? Sure, that's true. But once you own them, they're yours to do with as you please. You can also buy them from someone peer to peer if you really want to onramp in a 'decentralized' way.

JumpCrisscross 8y ago
> You can also buy them from someone peer to peer if you really want to onramp in a 'decentralized' way Now we're back to no advantage over cash or bartering.
- darawk 8y ago
  Only for the onramp. I know that you know that, too. Why are you arguing disingenuously? You have a reasonable case to make, you don't need to stoop to that.
funfunfunction 8y ago
> You can also buy them from someone peer to peer if you really want to onramp in a 'decentralized' way. This makes it seem like you can onramp via an exchange and still maintain all the benefits of decentralization. If I don't onramp in a decentralized way then there will also be a centralized entity with tremendous power.
- darawk 8y ago
  What do you mean by that?