So, every now and then I see a post about the beauty of a decentralized exchange. Well here's the thing. You can't get USD on a Decentralized Exchange, adding new coins to trade will always be a headache, and since there won't be any censorship, scamming with new, random, 2 day old altcoins will be abundant, among other things
Decentralized Exchanges sound good in theory, but in practice it just isn't plausible.
I agree the USD part will be a hassle however I am certain some solution will be found to this.
and since there won't be any censorship, scamming with new, random, 2 day old altcoins will be abundant, among other things
I disagree with this as an argument, participating in a decentralized market you must look after yourself, since there is no central authority who will severely punish those who do bad, it is inevitable people will do bad, but as with BTC the good tends to outweigh the bad. If you can't handle due dilligence on your own, with common sense then trading in a centralized market is just better.
Having your money at a bank is better than having it in BTC if you can't look after yourself or take the occasional hit because of the higher risk it usually carries. That's putting it plain and simple. For most, having money at a bank is better. But if you can fully understand, encrypt and have a wallet on your computer, BTC is better. Decentralized means that you and you alone carry the responsibility, because you believe you can handle it better than said authority, so it is not logical to use this argument against the theory of a decentralized exchange..