4 ms·

For me definitely decentralized exchanges. Look at uniswap. Really look forward for the day where I can buy stocks there. In my perspective the user experien

For me definitely decentralized exchanges. Look at uniswap. Really look forward for the day where I can buy stocks there. In my perspective the user experience is so much better. You own your "tkns". You don't need a broker or whatever to get access to an exchange. It works 24/7. Especially would be useful for people without bank access. By the way trading volume is already huge there.

nradov 5y ago
Opening a brokerage account is trivial, takes a few minutes. People who don't even have a bank account really shouldn't be trading securities. They mostly have no money and terrible credit ratings. They should focus on getting their personal finances squared away first.
- MichaelRazum 5y ago
  My problem is that in such case there is a whole food chain under my borker: person -> brokage -> market makers (hft) -> exchange So my point is, I think in terms of fees it may be more expensive, since you can't interact directly with the exchange. Also try to transfer your assets from one broker to an other. Not always trivial.
  - nradov 5y ago
    It is not more expensive. Transferring assets from one broker to another is easy. Your point is wrong.
raghavtoshniwal 5y ago
Unregulated exchanges might be worse for the society overall. NYSE and other centralised exchanges have alot of guard rails built to protect retail investors. For ex - a circuit breaker if the price jumps/crashes too suddenly to ease panic. Nothing similar exists on Uniswap, it's cool for people who know what they're doing, it's terrible for everyone else.
- aeternum 5y ago
  The same was said of the internet. NY Times, CNN, Fox and other centralized news sites have(had?) a lot of guard rails to 'protect' people from unsubstantiated claims. The internet was the wild-west in terms of information and blogs containing potentially harmful information. Now look at where things are. The guard-rails can be built in the new medium, and the result may actually be better than what we had before.
  - thedevelopnik 5y ago
    Our society is being destroyed by purposeful misinformation on the internet. I don’t think this argument is what you think it is.
    - aeternum 5y ago
      Fake news and misinformation was busy destroying societies since well before the internet was even a twinkle in Al Gore's eye: https://founders.archives.gov/documents/Franklin/01-37-02-0132 https://founders.archives.gov/documents/Franklin/01-37-02-01...
danielmarkbruce 5y ago
Why is it better than Coinbase?
- MichaelRazum 5y ago
  Because Coinbase can basically block you anytime. For example they updated their kyc and you need to proved them documents and so on until you can do anything with your assets. This stuff happens very often, especially in crypto. Also you have the risk that they might get hacked (although coinbase seems to be very secure).

nradov 5y ago

Opening a brokerage account is trivial, takes a few minutes. People who don't even have a bank account really shouldn't be trading securities. They mostly have no money and terrible credit ratings. They should focus on getting their personal finances squared away first.

MichaelRazum 5y ago
My problem is that in such case there is a whole food chain under my borker: person -> brokage -> market makers (hft) -> exchange So my point is, I think in terms of fees it may be more expensive, since you can't interact directly with the exchange. Also try to transfer your assets from one broker to an other. Not always trivial.
- nradov 5y ago
  It is not more expensive. Transferring assets from one broker to another is easy. Your point is wrong.

raghavtoshniwal 5y ago

Unregulated exchanges might be worse for the society overall. NYSE and other centralised exchanges have alot of guard rails built to protect retail investors. For ex - a circuit breaker if the price jumps/crashes too suddenly to ease panic. Nothing similar exists on Uniswap, it's cool for people who know what they're doing, it's terrible for everyone else.

aeternum 5y ago
The same was said of the internet. NY Times, CNN, Fox and other centralized news sites have(had?) a lot of guard rails to 'protect' people from unsubstantiated claims. The internet was the wild-west in terms of information and blogs containing potentially harmful information. Now look at where things are. The guard-rails can be built in the new medium, and the result may actually be better than what we had before.
- thedevelopnik 5y ago
  Our society is being destroyed by purposeful misinformation on the internet. I don’t think this argument is what you think it is.
  - aeternum 5y ago
    Fake news and misinformation was busy destroying societies since well before the internet was even a twinkle in Al Gore's eye: https://founders.archives.gov/documents/Franklin/01-37-02-0132 https://founders.archives.gov/documents/Franklin/01-37-02-01...

danielmarkbruce 5y ago

Why is it better than Coinbase?

MichaelRazum 5y ago
Because Coinbase can basically block you anytime. For example they updated their kyc and you need to proved them documents and so on until you can do anything with your assets. This stuff happens very often, especially in crypto. Also you have the risk that they might get hacked (although coinbase seems to be very secure).