Post
Topic
Board Bitcoin Discussion
Re: Do we even need bitcoin mixers?
by
SamReomo
on 09/01/2024, 22:18:06 UTC
That was a DeFi exchange, not a decentralized. No truly decentralized exchange offers farming rewards, staking pools, referral programs and a shit-token called SARP. And as already said, if an exchange is decentralized, it does not take custody.
I think that's what one should look for when he/she is aiming to search for a decentralized exchange. But, can you please tell me that is there any truly decentralized exchange including Bisq that doesn't rely on system's own centralization?

Although, Bisq is truly decentralized but still the trading disputes are often solved by the arbitrators or mediators and that's somehow a centralization thing not at government level but at exchange level. So if we keep that in mind then Bisq also has its own centralization system that's free from government interference but isn't free from the interference of the system's own centralization.

I won't question Bisq's decentralization in other sense because its doing best for the traders and crypto community and is preserving the privacy of the users but still I won't say that any decentralized exchange is decentralized in true sense.

The ones that I shared who did rug-pull to investors also promoted themselves as decentralized exchanges but they turned into scams. I would highly prefer Bisq over other decentralized exchanges, and also over those centralized exchanges that doesn't require any KYC.

The exchanges that doesn't require KYC often work as honeypots and the users who trade on those exchanges are always at risk of loosing their Bitcoin. But, I would still not support other decentralized exchanges and the users should use them on their own risk.