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0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

0x.org

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Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#101

Post by v64 »

nosuchthing wrote: post #99
v64 wrote: post #88

Earlier quoted context omitted.

If you're willing to trust the entity holding your assets, then a database will suffice. The non-custodial features of 0x enable exchange without reliance on third parties.

The reliance on the severely distorted plutocratic ownership of 0x, Ethereum, and most of the cryptocoin supplies is a huge risk factor that is often conveniently swept under the rug. By building on 0x, or other cryptocoin software it's essential to be aware of the elephants/whales in the "economy" of cryptocoins and tokens.

Agreed, especially with respect to Ethereum's governance. The ETC/ETH fork is still fresh in many peoples' minds.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#102

Post by dangero »

joosters wrote: post #95

How does this manage to connect the real world to a blockchain? The fundamental problem with the promises of insurance/bonds/stocks/whatever on a blockchain is that it doesn't matter what the blockchain says, people's real-world actions aren't tied to it, so it's not trustless. And so the blockchain part is pointless. Only if all the related elements are all virtual and on the blockchain can it do anything - so we're…

Another related issue is that tokens are bearer instruments controlled by whoever holds the right private keys.

Most investments regulated in the US cannot legally be bearer instruments. This means there must be a ledger listing who owns what with real names attached. For public companies they must use a registered transfer agent to keep these ownership records. Private companies can keep their own records, but in most cases cannot use bearer instruments. What happens if I transfer you the token if there is a master ownership ledger with names and addresses? Nothing happens. The token record becomes out of sync with reality is the only thing that happens.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#103

Post by Legogris »

kissickas wrote: post #43
jMyles wrote: post #24

Earlier quoted context omitted.

Well, what's currently your favorite decentralized exchange, prior to 0x? What do you suggest for people who live in regions where this technology is banned or where the difficulties of connecting orthodox bank accounts, etc, make access impossible? The last decentralized exchange I knew about was EtherDelta, and 0x seems to be an improvement.

IDEX has been the #1 DAPP on Ethereum since March 2018[0]. It's also the #1 DAPP by users and transaction count. You can't buy crypto with fiat there, though, so connecting your orthodox bank accounts is irrelevant in this case. The founder said yesterday in an interview [1] that they may work with partners to enable this eventually, but so far I don't know any good decentralized exchanges that offer that. Buying cry…

Bisq has that and has been around for years. Want a single, stable, smooth and fast fiat gateway with strong guarantees like you have on he realized exchanges? I think that's fundamentally incompatible with not having intermediaries. As others mentioned,calling IDEX decentralized is weasel-wording at best. It's a hybrid.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#104

Post by afro88 »

Forgive the potentially dumb question but I'm pretty green in the crypto and finance spaces. What's the business value here? As in, why has this been funded so heavily? Does 0x take a cut of all trades on 0x powered exchanges and marketplaces? Or is the data that holds the value?

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#106

Post by arcticbull »

v64 wrote: post #101
nosuchthing wrote: post #99

Earlier quoted context omitted.

The reliance on the severely distorted plutocratic ownership of 0x, Ethereum, and most of the cryptocoin supplies is a huge risk factor that is often conveniently swept under the rug. By building on 0x, or other cryptocoin software it's essential to be aware of the elephants/whales in the "economy" of cryptocoins and tokens.

Agreed, especially with respect to Ethereum's governance. The ETC/ETH fork is still fresh in many peoples' minds.

Yeah that was brutal; the definition of oh, you lost a few thousand dollars? That sucks ETH transactions are irreversible. Now I lost a few hundred million so all of a sudden it’s reversible, no harm no foul -- and most importantly, no lessons were learned that day.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#107

Post by arcticbull »

nostrademons wrote: post #75
nurettin wrote: post #73

Earlier quoted context omitted.

> That's the genius of the 0x protocol pretty proud that I stopped reading right here at the sales pitch to let you know that all coins are scams, every single person and group who tries to build a coin trading community using telegram is a scammer, there is no use for a blockchain in any foreseeable human endeavour or venue and it was all a big mistake. You may proceed.

I should bookmark this comment and we'll come back to it in 10 years. :-)

If that’d happened 10 years ago, I think they’d have come out feeling pretty good. Nobody uses blockchain for anything of value except speculation and scamming each other today. Maybe this decade will be different but I’m betting it won’t.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#109

Post by arcticbull »

v64 wrote: post #51
ForHackernews wrote: post #45

Earlier quoted context omitted.

> Why should I launch an exchange when there are already hundreds of existing exchange? Because loads of people will send you their money and tokens, you can keep them, and shut down your exchange. It's free money for bold entrepreneurs unburdened by legacy financial systems or consciences.

The advantage of a project like 0x is that it's non-custodial, so this type of exit scam isn't possible.

Blockchain always finds a way to scam. Let’s give it time.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#110

Post by blunte »

bananocurrency wrote: post #4
tomhschmidt wrote: post #2

Tom from 0x here. Happy to answer any questions about Launch Kit or 0x more broadly!

Is there a bug bounty on this?

The real bug bounty is for someone to exercise a flaw and steal from others :/.

A dapp of any sufficient complexity will have bugs, some of which can probably be exercised to steal funds.

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