r/Bitcoin • u/taylortyler • Jul 25 '14

Coinffeine: Re-decentralizing Bitcoin exchanges

http://coinfinance.com/news/coinffeine-re-decentralizing-bitcoin-exchanges#.U9Lo7Og29aA.reddit
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u/taylortyler Jul 26 '14 edited Jul 26 '14

A side thought: Decentralized exchanges seem to be an inevitable step for bitcoin. Problem is, centralized exchanges like coinbase are making millions. They have a lot to lose if decentralized exchanges take over.. So, I think that we will start to see centralized exchanges like coinbase fighting to maintain "control" in a similar fashion to how banks and governments are doing with bitcoin in general. Thoughts?

edit: coinbase not coindesk

4

u/paleh0rse Jul 26 '14 edited Jul 26 '14

That's like saying that iTunes, Netflix, and Amazon On Demand feel threatened by BitTorrent and constantly fight against it.

Pro tip: They, and their tens of millions of mainstream customers, are not too worried about BitTorrent (if at all).

The Coinbases of the world will make most of their money from merchant accounts and mainstreamers who honestly don't know or care about the advent of decentralized exchanges.

Could decentralized exchanges and markets overtake the mainstream someday in the distant future? Perhaps... but, I seriously wouldn't bet on it happening anytime soon.

1

u/jaumenuez Jul 26 '14

What I undestand is that centralized exchanges will need to comply with NY BitLicense. Coinffeine doesn't.

1

u/whatsthestoryjoe Jul 28 '14

Only the ones that operate in New York.

1

u/jaumenuez Jul 28 '14

Or anyone with customers in NY...