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And how do you move your money to/from a DEX? It still needs a regulated exchange like Coinbase to interface with Fiat money, no?
by RestlessMind 6y ago
And how do you move your money to/from a DEX? It still needs a regulated exchange like Coinbase to interface with Fiat money, no?
- vinay_ys 6y agoYes, that's correct. Basically, bitcoin doesn't have privacy and is losing self-sovereignty through regulation.
- thinkmassive 6y agoYou can sell goods and services locally and accept Bitcoin as payment. Craigslist even added a “cryptocurrency ok” flag you can set on your posts. LocalBitcoins enables face to face transfers. Bisq is a DEX that enables remote exchanges using any form of payment, including most centralized payment services, and even cash through snail mail.
- RestlessMind 6y agoBut then, the seller has to pay taxes - either business taxes if it is a merchant or capital gains taxes in case they sold an asset. And taxes are paid only in Fiat. So you still need Fiat integration somewhere.