Re: [ANN] ION [ION] | POS 3.0 | Mobile Gaming

Quote from: suchmoon on January 07, 2018, 05:19:28 AM

Quote from: DaZuru on January 07, 2018, 04:17:19 AM

I wonder how much of the BTC exchange preference is due to KYC and anti-money-laundering measures? I assume Coinbase and the like that have somewhat successfully navigated these issues, have incurred, and are still incurring, a few additional expenses and red tape along the way. Exchanges use local currency for stocks, why would they not? My understanding is that FOREX trading outpaces all stock markets combined. Purchasing assets or exchanging currency in relation to crypto? I'm not sure if collectively we know. Maybe Crypto to Crypto is the stock market, and Crypto to FIAT is the Forex component?

It seems that most broad comparisons are with total crypto market capitalization, in USD. We are so convoluted it seems, or is it fake news.

The whole idea of centralized exchanges and other sites goes against basic principles of crypto. It carries enormous risks and has lead to huge scams (Gox, Cryptsy, etc). Ionomy isn't helping either, what with their PNGs and hosted masternodes and other website-based stuff. Sadly most folks seem to be more than happy to give up their private keys so this is like eating your veggies... it's not like a lightning is gonna strike you immediately if you don't do the right thing so it looks like you can get away with it forever. Until you can't.

Sure, there is some need for a gateway between crypto and fiat but most of that could be satisfied via future/option contracts. Vast majority (95%+ IIRC) of commodity contracts - e.g. oil, gold etc - are settled in cash, not via physical delivery, and most crypto/fiat trades probably don't end up in actual withdrawals either.

I agree in part to the principal idea of decentralization. We are a long way from the idea that a decentralized BTC client will be run on every person's computer. The consolidation of mining power is a huge concern, as well as the power requirements from an ecological point of view. I believe that some of those concerns are leading people to seek other solutions, which is good for us all. In regards to the current favorite, XRP, other equally concerning factors come to light. A lot of the press regarding adoption of Ripple's technology goes over the head of most people just getting into this. Ripple's technology is not XRP. There seems to be a disconnect between the relationship of the technological solution they sell to entities and the coin. Since it has become popular, they are trying to dangle a carrot that future solutions will use XRP.

Pointing this out because it seems that to cater to the unknowing masses, some centralization and ease of entry is required to be successful. I am technologically capable of running an ION masternode, my sons that laughed at me in 2012 about Bitcoin, are not. It was far easier on everyone involved to hook them up with a centralized provider. It may seem like forever, but our journey to find the best crypto solution(s) has really only just begun. I tell my kids it is the Wild Wild West. You can get robbed in an instant, gun downed in the street, find gold and have it taken from you, etc. We waste too much energy fighting among our selves. Let's explore, create, fail, learn rinse and repeat until we get it right. All of this soap boxing and I haven't even had a beer today!