Maybe it's better if you stay in this business? Implement KYC
That would mean betraying everything they stand for:
Originally, we were just a team of privacy enthusiasts
~
Our project has demonstrated that an instant exchange done properly can be more effective than any centralized mixer in terms of privacy
Given this, we are announcing a 50 BTC open-source fund to support any FOSS projects aiming to enhance the availability of privacy solutions. We hope we can still make a difference. Here are examples of the projects we will support:
- Bitcoin wallets and protocols aiming to preserve user privacy
There will be other projects that will hopefully take our place as the industry leader in privacy-oriented centralized exchanges, and we wish them success.
Privacy is not a crime.
It doesn't mean betraying, it's just the fact that they have no other choice but it's still not betraying. There are lots of KYC exchanges but not all of them are bad, yet, some of them are good and some of them are bad. What will happen if eXch quits? Nothing, they'll be gone forever but if they stay, they can be a very good and reliable exchange.
I'm not maximalist in cases like this one, so that's why my opinion might be different but I completely got your point and also the point of others who think like you in this case.
Maybe it's better if you stay in this business? Implement KYC, that's okay, just be fair with KYC. Some exchanges ask for KYC documents to find an excuse and not send money to customers. I think we all believe that you won't do that and you'll be very fair with KYC requirements. So, please, stay in the business and implement KYC, you'll still be far better than 99% of exchanges.
That is a
terrible idea.
But that still doesn't mean that it's a bad idea. I mean, we all have a moment when we want to use an exchange. To be honest, I don't feel comfortable with BISQ like platforms despite the fact that it's admired, I see some flaws that are very risky to my mind but I won't talk about it right now. I think that lots of people want a stable exchange that doesn't lie. I've used multiple instant exchanges and I finally found one (besides Exch) that is regulated but yet, doesn't ask for KYC out of thin air.
I will also add that NodeJs, just like js, has several cryptography failures, which is very complicated for a cryptocurrency wallet project.
There is a big list of vulnerabilities here and how to mitigate them
https://www.cobalt.io/blog/node-js-vulnerabilitiesI think Nodejs is a good language and tool that gets the job done. But not fit for the standards required by eXch.
So, NodeJS is only not recommended to use in crypto, right? I'm asking this because I want to become a web developer and I prefer to totally focus on Javascript and NodeJS is the best backend JS framework.
By the way, thanks to NotATether and you for this explanation.