we dont need poloniex anymore....thats why i stopped trading on centralized exchanges...DEX or nothing at all...
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we dont need poloniex anymore....thats why i stopped trading on centralized exchanges...DEX or nothing at all...
If you are using Bitshares and Openledger, do you keep the coins there in OPEN./BIT asset versions? I would rather hold the "real" coin, then these versions.
it is just as real if not more real than any centralized exchange..poloniex is run out of a kitchen....if you use a centralized exchange they hold the keys like a bank...do you trust some women in bathrobes in kitchen with the keys to your coins? the dex does not hold your keys...never freeze your funds and cannot go bankrupt...lookup mtgox....alot of ppl lost all there savings....
I love you bro for this information. I almost wanted to put BTS in Poliniex but I'm going for Openledger DEX <3
love you back bro!!!!
i hope you make a ton of money bro
Yes dweller...when you hold coins on Bitshares it acts as a wallet and you have the protection of both 1.75-2.00 collateral backing and it being held on a decentralized exchange where you have control of your coins....when you sign up you can use the same credentials on openledger and bitshares..if you use the bitshares cloud or local client wallet click the BTS tab and you can buy bts or what ever coins they have on there..they don't offer as many coins as Bittrex but im sure they will add more in the future..if you buy open.BTC open is just what they call it but it's backed by actual BTC...when you have the BTC click on the open.BTC tab to transact with your open.BTC and buy whatever coins you want..hope this helps
I already bought some BTS on bitshares. I am not worried about "real" assets like BTS. But I have doubts about open.BTC and similar. Was there any audit that it is realy backed by BTC? How can I be sure it is really backed? This seems to me the same as any CEX, as you have to trust some entity. Seems to me it's better to hold in cold storage.
Another problem I see with DEX is that the frontends are centralized, so anyone who is in charge of the frontend can see your password/private key when you log in.
Don't take me wrong, I like the idea of DEX and already use Bitshares and EtherDelta, but it's still far from ideal.
Very valid questions..of course cold storage will be and has always been the best way to store your coins..as far as the other technical things, the team is pretty open about this...they have a telegram channel and the devs are on there all day so you could ask them about these concerns...ive got a lot of questions answered on there...Tony Peacock has a steemit page and he is a great supporter of Bitshares and is extremely knowledgeable...you should ask him these questions..let me know if i can help in any way friend
Do your research first before making assumptions. Did you not read shawnstwrs comment above sir? ?? Did you not read mine. Cex is a risk in an already risky crypto market. If you wanna risk losing everything then keep leaving your coins on a cex. Good luck with that
I read his answer obviously, as you can see I replied directly to it. I admit that I did not check much info about bitXXX assets before I posted my comment, but other points are still valid. Maybe you did not read my whole comment..
I briefly read about bitUSD and bitEUR assets a bit and it's pretty neat with the 2x collateral backing via the smart contract. But this is not valid for open. BTC, it's basically the same like on CEX (giving word that is backed by real BTC 1:1). But for sure, I would trust openLedger more than Bittrex.
I don't have a lot of money in crypto currently, so I am not so much concerned right now. I use multiple CEX and DEX and also cold storage to spread out risk. The main problem with DEX for me currently is a very limited number of coins, but this will improve in the future, I bet.