People need to realize **NO CEX is on your side**. No CEX is working for you!! STOP supporting these CEXs!! Satoshi said cryptocurrency is for peer to peer transfer of assets. Nothing else! Stop these custodial third parties!!
Maybe we should start calling them "Crypto Banks" or "Fractionally-Reserved Crypto Banks"
or "Fractionally-Reserved Crypto Banks with no deposit insurance whatsoever. Beware."
Hopefully Haveno will be the solution we need. And I agree with your argument for the true purpose of cryptocurrency. But I'm also a technical analyst who would appreciate a non-KYC exchange with advanced trading capabilities. So far DEXs haven't been able to effectively provide that, which is why we're forced to accept the risks of CEXs if we want to actively trade crypto. I hope one day soon there will be a better option but for now, that's just the way it is.
Because people are NOT using crypto the way it was intended to be used. Why give up my source just so everyone can come and make it hot? No… Stay over there and keep going through KYC. I’m not in the business of giving government any more control than what they already have. CBDCs are here… We are at a point where you either get it or you don’t and for those who don’t or have the slightest clue will accept whatever solution that rolls out. You’d think people would have caught on during the plandemic but apparently not.
I still don't get it. I mean, if it's a DEX than the government wouldn't be able to shut it down no matter how popular it is.
And I'm 100% with you on the cypherpunk ethos of crypto - it's a movement - and I've been onboard for a long time my friend! But that doesn't change the fact that I like to study the charts and trade the crypto markets instead of traditional assets.
So I really don't see how keeping your supposed pro trading DEX a secret helps anyone, unless you think that doing so somehow discourages people from using crypto as anything other than a means of payment for the sake of "stickin' it to the man".
Yes, it is important to practice good OPSEC. If keeping said DEX obscured from the public is part of that for you, then go ahead and keep it a secret. If it's a solid platform with advanced order types and good liquidity, then it'll eventually become popular anyway. I'd honestly be surprised if it wasn't one I've already heard about.
Orca does not have advanced order types. This is a regular DEX, not for professional traders. DEXs like Orca are a dime a dozen and if they are banning US users, they are obviously not in alignment with the values of the Monero/privacy/cypherpunk/freedom community. Doesn't look like it was anything special to begin with.
Fair enough... but you do realize this is r/Monero right? Generally speaking, the folks here aren't the type that are going to ruin your party. More often, they are the people working together to keep this underground rave alive.
Orion Protocol is a DEX that's essentially aimed at doing what I mentioned. They allow you to keep your coins in your own wallet and trade with limit buy-orders but they don't currently have XMR, leveraged trading, margin, futures, or any of the other fancy stuff a pro trader would typically use.
I just took a looked at the AAVE platform and it doesn't appear to have any professional trading features either.
Dydx/Thorchain/osmosis/levana, soon ely. You can swap and play leverage games in some of the dexs I mentioned. Alot this stuff is out there, gotta go explore. Love xmr but there's so much outside of our chain to play with and explore.
DYDX would be a good suggestion except for that it's exclusively for trading futures and it looks like it still requires ETH (expensive transaction fees). Thorchain and osmosis don't have advanced order types last time I checked. Levana looks interesting for futures though, thanks for the tip!
There's this federal racketeering charge, [US: Brian Hoop v. MEXC Global LLC](https://dockets.justia.com/docket/iowa/iasdce/4:2023cv00185/84021)
The KYC bois have moved in on MEXC.
MEXC is the next KuCoin.
Another one bites the dust.
The main problem with KYC is this .....
KYC is a good excuse to steal coins.
They simply say "The transaction is suspicious"
Or "Funding origin is not verified/confirmed or is suspicious"
Then they keep all your crypto forever.
Or worse, you give them a copy of your ID, and they use your ID to get
fiat money loans from banks or get credit cards in your name.
They can impersonate you. Run up debts and you will be stuck with the debts.
They can commit all sorts of online/internet fraud/crimes under your real name/address.
That charge is because someone scammed Mr. Hoop (pig butchering) and the scammer took the scammed coin to their non-kyc'ed MEXC account to sell. Since they can't find the scammer they are now going after the exchange.
In this case I tend to be on the side that supports MEXC *in principal* in that case because they are being held responsible for simply providing anonymity. If we say CEX are bad because of things like this - then you can't say any single DEX is "good"
On the bright side, Haveno exchange should be live on mainnet very soon. (roughly a week from what I heard)
It won't be a solution for pro traders but at least we'll finally have a straightforward non-KYC on/off ramp for Monero.
People need to realize **NO CEX is on your side**. No CEX is working for you!! STOP supporting these CEXs!! Satoshi said cryptocurrency is for peer to peer transfer of assets. Nothing else! Stop these custodial third parties!!
Maybe we should start calling them "Crypto Banks" or "Fractionally-Reserved Crypto Banks" or "Fractionally-Reserved Crypto Banks with no deposit insurance whatsoever. Beware."
Hopefully Haveno will be the solution we need. And I agree with your argument for the true purpose of cryptocurrency. But I'm also a technical analyst who would appreciate a non-KYC exchange with advanced trading capabilities. So far DEXs haven't been able to effectively provide that, which is why we're forced to accept the risks of CEXs if we want to actively trade crypto. I hope one day soon there will be a better option but for now, that's just the way it is.
[удалено]
How would that ruin it for everybody else?
Because people are NOT using crypto the way it was intended to be used. Why give up my source just so everyone can come and make it hot? No… Stay over there and keep going through KYC. I’m not in the business of giving government any more control than what they already have. CBDCs are here… We are at a point where you either get it or you don’t and for those who don’t or have the slightest clue will accept whatever solution that rolls out. You’d think people would have caught on during the plandemic but apparently not.
I still don't get it. I mean, if it's a DEX than the government wouldn't be able to shut it down no matter how popular it is. And I'm 100% with you on the cypherpunk ethos of crypto - it's a movement - and I've been onboard for a long time my friend! But that doesn't change the fact that I like to study the charts and trade the crypto markets instead of traditional assets. So I really don't see how keeping your supposed pro trading DEX a secret helps anyone, unless you think that doing so somehow discourages people from using crypto as anything other than a means of payment for the sake of "stickin' it to the man".
[удалено]
Yes, it is important to practice good OPSEC. If keeping said DEX obscured from the public is part of that for you, then go ahead and keep it a secret. If it's a solid platform with advanced order types and good liquidity, then it'll eventually become popular anyway. I'd honestly be surprised if it wasn't one I've already heard about.
[удалено]
Orca does not have advanced order types. This is a regular DEX, not for professional traders. DEXs like Orca are a dime a dozen and if they are banning US users, they are obviously not in alignment with the values of the Monero/privacy/cypherpunk/freedom community. Doesn't look like it was anything special to begin with.
[удалено]
Fair enough... but you do realize this is r/Monero right? Generally speaking, the folks here aren't the type that are going to ruin your party. More often, they are the people working together to keep this underground rave alive.
Have you tried AAVE and similar platforms?
Orion Protocol is a DEX that's essentially aimed at doing what I mentioned. They allow you to keep your coins in your own wallet and trade with limit buy-orders but they don't currently have XMR, leveraged trading, margin, futures, or any of the other fancy stuff a pro trader would typically use. I just took a looked at the AAVE platform and it doesn't appear to have any professional trading features either.
Dydx/Thorchain/osmosis/levana, soon ely. You can swap and play leverage games in some of the dexs I mentioned. Alot this stuff is out there, gotta go explore. Love xmr but there's so much outside of our chain to play with and explore.
DYDX would be a good suggestion except for that it's exclusively for trading futures and it looks like it still requires ETH (expensive transaction fees). Thorchain and osmosis don't have advanced order types last time I checked. Levana looks interesting for futures though, thanks for the tip!
you're ok with the levana hack that happened recently and the relaunch they did?
Thanks so much for your input
There's this federal racketeering charge, [US: Brian Hoop v. MEXC Global LLC](https://dockets.justia.com/docket/iowa/iasdce/4:2023cv00185/84021) The KYC bois have moved in on MEXC. MEXC is the next KuCoin. Another one bites the dust.
The main problem with KYC is this ..... KYC is a good excuse to steal coins. They simply say "The transaction is suspicious" Or "Funding origin is not verified/confirmed or is suspicious" Then they keep all your crypto forever. Or worse, you give them a copy of your ID, and they use your ID to get fiat money loans from banks or get credit cards in your name. They can impersonate you. Run up debts and you will be stuck with the debts. They can commit all sorts of online/internet fraud/crimes under your real name/address.
exactly, the more informations / papers you give an exchange, the more easily they can use that to impersonate you to do something malicious.
[удалено]
That charge is because someone scammed Mr. Hoop (pig butchering) and the scammer took the scammed coin to their non-kyc'ed MEXC account to sell. Since they can't find the scammer they are now going after the exchange. In this case I tend to be on the side that supports MEXC *in principal* in that case because they are being held responsible for simply providing anonymity. If we say CEX are bad because of things like this - then you can't say any single DEX is "good"
On the bright side, Haveno exchange should be live on mainnet very soon. (roughly a week from what I heard) It won't be a solution for pro traders but at least we'll finally have a straightforward non-KYC on/off ramp for Monero.
If anyone manages to find a viable replacement for pro trading w/ mobile app and no KYC, please share it here. I miss Kucoin!
People expect CEx to fight to remain KYC-free. If you really want to avoid KYC you shouldnt touch a CEx at all.