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I'm glad that exchanges are starting to take security more seriously. But the security of cold wallet funds is much easier to maintain. The issue here with cent

I'm glad that exchanges are starting to take security more seriously. But the security of cold wallet funds is much easier to maintain. The issue here with centralization and hot wallets is that funds have to sit on publicly accessible servers. So really, any improvements made to cold wallet storage are nothing more than a red herring that distracts from the real issue that centralized exchanges were never designed to handle cryptocurrencies. There are far more problems to this approach than just wallet security too. With an inherent lack of transparency that comes from centralized exchanges how is the user to know that trades are being executed fairly? The exchange still has an edge over every trader in that market and can skim profits off of anyone. If we observe Mtgox it was the result of what can happen when everything goes wrong (hot and cold wallets mismanaged and order books manipulated.) So call me a skeptic but I don't see how this solves anything. I did enjoy the hand waving though. Very cool, and I'm sure Squares customers will be happy with it when their convoluted security protocols are inevitability broken by a rubber mallet.

atomical 8y ago
> With an inherent lack of transparency that comes from centralized exchanges how is the user to know that trades are being executed fairly? How do we know Nasdaq isn't screwing the buyers and sellers? It's only a problem with some exchanges for cryptocurrency. The trust issue is with cryptocurrency exchanges in general and not centralization. Check out the Unchained podcast. Laura Shin interviews the CEO of Binance. His answer on the question of whether tokens are securities is that some people say these are securities and some people say they aren't. Does that sound like someone you want to trust with your money? Even if you believe in cryptocurrency why would you trust a CEO that's taking huge risks by throwing up his hands and saying that there isn't regulatory clarity when the SEC says the opposite?
pat2man 8y ago
You can always trade on a decentralized exchange like https://www.radarrelay.com https://www.radarrelay.com
- snissn 8y ago
  anyone who works at radar relay - could we chat about listing 0xBitcoin? thanks!

atomical 8y ago

> With an inherent lack of transparency that comes from centralized exchanges how is the user to know that trades are being executed fairly? How do we know Nasdaq isn't screwing the buyers and sellers? It's only a problem with some exchanges for cryptocurrency. The trust issue is with cryptocurrency exchanges in general and not centralization. Check out the Unchained podcast. Laura Shin interviews the CEO of Binance. His answer on the question of whether tokens are securities is that some people say these are securities and some people say they aren't. Does that sound like someone you want to trust with your money? Even if you believe in cryptocurrency why would you trust a CEO that's taking huge risks by throwing up his hands and saying that there isn't regulatory clarity when the SEC says the opposite?

pat2man 8y ago

You can always trade on a decentralized exchange like https://www.radarrelay.com https://www.radarrelay.com

snissn 8y ago
anyone who works at radar relay - could we chat about listing 0xBitcoin? thanks!