Well, yes - if your looking for a cryptsy type exchange. Most people here don't like alt's though, and when speaking of exchanges, they mean as a means of moving between fiat currency and BTC. Some people throw out the term "decentralized exchange" thinking that will do away with the risks, but as OP points out, that won't ever be a part of the future... Bitcoin can be held in some decentralized fashion, I"m sure, but dollars and euros, they need to be in bank accounts, and bank accounts need to be tied to individuals.