RE: Weeding Out The Real DEX's
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I think it is important to think in the short and as well as the long term. Fully independent true decentralized exchanges are good for the asset that you would not convert to fiat for your transactions. If you have a certain amount of money that you can put aside then it is okay to have non KYCd exchanges. But, if you want to transact fiat to crypto then you have to rely on one of the regulated exchanges for the short term. Since, we do not have a fully developed consumer market where you can use tokens for everyday activities it is less practical.
However, I agree with you that in the long term, regulations will have to follow the market.
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Fully decentralised exchanges are the end goal and its ugly cousins we have to make friends with along the way in the centralised and hybrid exchanges are what we have medium-term
You don't HAVE to rely on a centralised exchange to move in and out of fiat, we do it because of the convenience and them assuming 3rd party risk. However there are sites like LocalBitcoins and paxful that allow for P2P sales and I think this will grow as crypto gets into the hands of more people, but for now, centralised exchanges are perceived as safer.
I do think CEX's will always be around they just won't be as big a part of the market as they are now, some will be happy to pay the premium in privacy while others will want true decentralisation and let the market support the needs of everyone
I am a bit of a snob already so I tend to stick with the most decentralised options
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Yeah, we don't have to rely on them altogether.But, there are tax implications and currency exchange you are entitled to report to the government which make the experience not so good. If there were options where I could use the tokens without ever converting to fiat, I would have gone full decentralized.
I agree that CEX will be around but dexs are the future.
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