I just stumbled across Bisq (haven’t even installed it yet) But the exchanges are the effing devil. A ratrace of refuse on a marathon to the bottom of human depravity.
Unbelievable how difficult it was for a beginner to:
- Get a coinbase account
- Deposit money/link accounts
- Pull earning back out into cash in a reasonable timeframe (would take about a month to unload 100k in coinbase/meanwhile market tanks and cant do anything about it)
I was just thinking to myself that if left unchanged, the exchanges will kill the motivation to move to a crypto currency. Cant use ‘this’ to buy ‘that’ without first converting to ‘them’, can only transfer so much per day, per week, loose money at every step.
So why the hell isn’t there a programmatic escrow built into a trading app that functions much like a bitcoin hash. The very app itself would need to be trusted.
Lets say I have a digital representation of a carrot and I want to trade user Bob for a digital representation of a potatoe. Why should this app care wtf I am trading? it first collects both items from both users, then the moment that it has both, boom, it simply swaps the owner. The most important part of the transaction is the trust of the app (I believe).
step 1. Do you have the official App? (confirmed by a unique hash) Everybodys app is the equivalent of 1 bitcoin for instance, It can not be faked or spoofed etc. The app (think bitcoin) is confirmed valid in the same way the blockchain transactions are confirmed.
step 2. each party, after validation of their app, defines objects you want to trade (Bitcoin/XRP/potatoes/Yen/doesnt effing matter).
step 3. Accept the trades.
step 4. Mutual transmitting of objects to the other user.
step 5. Recording via a swap blockchain.
App should have a linked bank account for dealing with local users currency
How does Bisq try to do this? what am I missing?
There no (or almost no) services and programs to expand crypto currency yet .
Now, crypto used in 99% for trade between coins and investment.
Actually crypto were designed to be UNREGULATED PAYMENT INSTRUMENT with the ability to make payments between people fast, safe and without interruption of third parties.
Crypto it is about freedom. to keep out of payment system someone who doing nothing, just collecting on funds movement because having control over existing systems.
Look what is going on now, they’re all governments trying to get control over crypto, but not much resistance from crypto community even there no any technical problem to keep them off.
This is because now, most of new bees come not because of the idea, but to get quick profit.
Look, what kind of services growing up fast- exchanges, wallet makers, stocks, but not some really simple p2p progs to help people exchange without control, not any services to process payments without control.
There’s lots of info about how to buy and keep crypto safe and without problems, but people can’t find one because internet full of shit-ads and 99% of info is completely wrong, make people come not easy but hard way and pay for things absolutely not need.
You don’t need to waste your time with one of the worst place for crypto as Coinbase ! you don’t need to register with NO ONE, Not to give up your personal info… etc…
All you need is smartphone or computer and knowledge.
You can start to buy and exchange crypto now in less than an hour as soon as you have internet and know how to use a computer properly.
The problem is , everybody want quick results, but they need to learn how crypto currency system works to be successful and nobody can learn it in a few days or even weeks!
So, because in general people don’t want to spend much time on something they don’t understand, most will lose, and pay for the ones who learn
In a plain language, there many good projects with goal to help people keep their independence and financial freedom, but most died before even born, because stupid people do not support it, because not able to understand it.
AS a result, most of the people looking for the ways similar to they already know (regulated exchanges, licenses, etc.) and supporting by this more and more regulation.
Because this days, most not even able to read and understand more than two sentences on a row, they want all on YouTube together with " bum-bum" (they call it music now)…