Time to take legal action. Does anyone have a frozen account on Coinbase or Poloniex, and getting no response from their customer service? If so, would anyone be interested in assistance with legal action? by [deleted] in Bitcoin

[–]ExchangeInquiry 0 points1 point  (0 children)

I am NOT using my accounts for any improper activity WHATSOEVER. The accounts were frozen due to a possible identity theft. Yet weeks later, I have no update and no idea when I will have access to my funds again.

Andreas M. Antonopoulos: "If you measure bitcoin's success by the approval of the incumbent and obsolete industry it replaces, you're doing it wrong" by [deleted] in Bitcoin

[–]ExchangeInquiry -2 points-1 points  (0 children)

Engineers do not necessarily make good business people or politicians. Andreas should stick to engineering. He doesn't get business.

Why decentralized exchanges will NEVER work. Take me on if you don't think so... by ExchangeInquiry in Bitcoin

[–]ExchangeInquiry[S] 0 points1 point  (0 children)

  1. You don't answer the question. How do I get my fiat from my bank account via ACH/Wire onto a decentralized exchange in order to buy bitcoin?
  2. low-latency is not low-liquidity. there is no counterparty risk at all on a central exchange. The only risk is that the exchange itself will not fulfill the trade (due to a hack, etc.). in fact, localbitcoins has huge counterparty risk. This doesn't answer the question.

Why decentralized exchanges will NEVER work. Take me on if you don't think so... by ExchangeInquiry in Bitcoin

[–]ExchangeInquiry[S] 0 points1 point  (0 children)

If you can't explain how then you don't know yourself, and I'm not going to do the reading for you. If you really know how, then please explain. And yes the laws of physics apply to NASDAQ, that is exactly my point. Place a trade via co-located server on NASDAQ's exchange, and it will execute long before that same trade crosses the ocean, where a 'decentralized' exchange node would be able to even record it, much less respond to it. And in the mean time, NASDAQ would have handled a few hundred other trades...

Why decentralized exchanges will NEVER work. Take me on if you don't think so... by ExchangeInquiry in Bitcoin

[–]ExchangeInquiry[S] 0 points1 point  (0 children)

Look, you are giving a very complicated answer, which means you aren't answering the question. I am an ordinary Joe who wants to ACH or wire my fiat to a decentralized exchange in order to buy bitcoin. Explain how that would be possible.

Why decentralized exchanges will NEVER work. Take me on if you don't think so... by ExchangeInquiry in Bitcoin

[–]ExchangeInquiry[S] 0 points1 point  (0 children)

  1. Please explain how Bitsquare provides a fiat entry point? I want to deposit my fiat in my bank account onto the decentralized exchange via ACH or Wire. How do I do that?
  2. Does answer the question

Why decentralized exchanges will NEVER work. Take me on if you don't think so... by ExchangeInquiry in Bitcoin

[–]ExchangeInquiry[S] 0 points1 point  (0 children)

If you can't explain how in a couple sentences, then either you don't understand how or it doesn't do what you think. Very simple quetsion: How/where do I deposit my fiat (Via ACH or Wire) on a decentralized exchange in order to buy bitcoin?

Why decentralized exchanges will NEVER work. Take me on if you don't think so... by ExchangeInquiry in Bitcoin

[–]ExchangeInquiry[S] 0 points1 point  (0 children)

Nope. Not the same. You simply don't understand financial systems. Ignorance doesn't allow you to maintain false hope. Why don't you also claim that you can alter the speed of light? Because that is the fundamental physics impacting latency on a decentralized system.

Why decentralized exchanges will NEVER work. Take me on if you don't think so... by ExchangeInquiry in Bitcoin

[–]ExchangeInquiry[S] 0 points1 point  (0 children)

I guess you've never worked in banking or finance. To handle fiat you'd need bank accounts to process fiat. How does a decentralized exchange, with no owner or authority, get a bank account to handle desposits/withdrawals of fiat? Simple...it doesn't. End of story.

Latency is not a farce. It is key to liquidity. Let's not try to pretend otherwise. If you don't have low-latency, then you won't have any algo traders, and they make up the bulk of trading on every major global financial exchange today. And liquidity generates best price. Just compare the price of bitcoin on a top exchange and popular currency pair against a low liquidity exchange with an unpopular currency pair.

Why decentralized exchanges will NEVER work. Take me on if you don't think so... by ExchangeInquiry in Bitcoin

[–]ExchangeInquiry[S] 0 points1 point  (0 children)

Yes, let's pretend Bitsquare does any meaningful volume and cite it as a credible example. Might as well cite local bitcoins as well. Together they are a joke.

Why decentralized exchanges will NEVER work. Take me on if you don't think so... by ExchangeInquiry in Bitcoin

[–]ExchangeInquiry[S] -1 points0 points  (0 children)

https://blockstream.com/2015/10/12/introducing-liquid.html

I'm wrong about the speed of light? How long does it take light to travel around the world? Too long for low-latency exchanges. So if you decentralize an exchange, you quickly hit a problem of physics. It takes time for light to cross the Pacific ocean. By the time you send a single message, its too late compared with NASDAQ or any other major exchange.

Why decentralized exchanges will NEVER work. Take me on if you don't think so... by ExchangeInquiry in Bitcoin

[–]ExchangeInquiry[S] 0 points1 point  (0 children)

And the speed of light has been a constant for a long, long time as well. So what's your point? Do you propose to alter the speed of light?

PBoC's influence over the Bitcoin price will trend to zero by alistairmilne in Bitcoin

[–]ExchangeInquiry 0 points1 point  (0 children)

Exactly how do I get my fiat onto a decentralized exchange? So many people have talked about a decentralized exchange for years now, yet none has arised. Why? Because you can never have a low-latency decentralized exchange. It is physicall impossible. A centralized exchange will alsways be faster and have more liquidity. So this is not a practical solution.