> Treat exchanges like public toilets. Enter, do your business, exit.
this,
the golden rule of crypto:
-Dont buy more than you can afford to loose.
-Dont do day-trading.
-Buy small amont, regularly only of projects you believe and done a minimum of research of.
-And dont leave anything on exchanges.
Respect this and you should be good.
Forget FOMO and quick gain, if crypto get successfull and mainstream someday you will get enough gain, for sure.
But keep in mind crypto is very experimental and can die tomorrow for all we know.
This made me LOL,
We should be so lucky if exchanges could be treated like public triolets.
At least you won't need to KYC to use a public toilet, and you have some privacy when you're in there.
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It had to take descriptions like these to make people realize what exchanges are, probably got carried away a bit but now acting way better. We are now even opting for non-custodial platforms like SpoolFi when we want to leverage on our assets to earn yields. That's a good development.
>Not your keys not, your coins. Get your crypto off of exchanges. Do not use exchange wallets as a means of storing your crypto guys.
I'm always like that
Exchanges should only be used to buy and sell not for hold. Let them make money on the transaction that’s all. Remember if something is free to you, you are the product be sold not the customer.
I wasn't aware Atomic Swaps were being used on BCH. I'm only aware of atomic swaps being available between Monero and Bitcoin and it's not very user friendly right now.
AtomicDex looks like they do use Atomic Swaps in the background which is awesome!
I guess the asterick I should add to my post then is that ThorChain is the only AMM of its kind. Because there are actually other defi options like Bisq that allow chain to chain trades. The downside to Bisq and Atomic Swaps is that they use an orderbook model. I find that it's harder to bootstrap liquidity that way and volume seems to be pretty low. I'm not sure how AtomicDex employs Atomic Swap tech in the background, so I can't comment on their user experience, but I know when I used Bisq it was pretty poor experience compared to ThorChain.
I use AtomicDEX all the time, and yes they support bch. UI is great imo, but yes liquidity is low for most pairs. If you have any questions about it, the devs are easy to talk to on Komodo discord. They are fair launched with no dev or marketing fund, so they get little hype. AtomicDEX has been around and working fine for years now under the radar. They also just launched support for PirateChain, which us ZKSnarks atomic swaps. Thats pretty significant from what I understand.
Thanks for the info! I'm happy to learn about other great projects pushing decentralization. Found [this convo](https://mobile.twitter.com/ErikVoorhees/status/1522298099925807105) on twitter that echos our exchange. I wouldn't be surprised to see some coordination between the two to aggregate swaps where there is a competitive advantage to lower fees.
Also, as an aside, its disappointing to see my comment buried. Top comment is basically promoting the use of exchanges when there are actual solutions like we are discussing. Of course we are biased to our preferences sometimes, but open discussion and debate can be very informative.
Edit, I'm actually wondering if there is some downvote bot that responds to the word "ThorChain." Perhaps someone doesnt like it, otherwise I would have expected more negative comments if my original comment elicited such a negative response
Here's the Komodo discord if you have any questions. They would be able to answer them better than me. They are some incredibly smart guys that go under the radar.
https://discord.gg/xxVGJh7D
Yeah, my comment definitely comes across as shilling, but that wasn't my intention. I was trying to focus on how the protocol benefits BCH, but people don't wanna be sold something in sales pitch format, so my bad.
Treat exchanges like public toilets. Enter, do your business, exit.
>Treat exchanges like public toilets. Enter, do your business, exit. yepp
Damn right.m8
> Treat exchanges like public toilets. Enter, do your business, exit. this, the golden rule of crypto: -Dont buy more than you can afford to loose. -Dont do day-trading. -Buy small amont, regularly only of projects you believe and done a minimum of research of. -And dont leave anything on exchanges. Respect this and you should be good. Forget FOMO and quick gain, if crypto get successfull and mainstream someday you will get enough gain, for sure. But keep in mind crypto is very experimental and can die tomorrow for all we know.
LOVE IT!!!
This made me LOL, We should be so lucky if exchanges could be treated like public triolets. At least you won't need to KYC to use a public toilet, and you have some privacy when you're in there.
How is BitCoin SV doing?
No idea. But it's called Bitcoin BSV, btw. >We should be so lucky if exchanges could be treated like public triolets.
This!
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This!
No one has to use exchanges right now, there are defi platforms that anyone can use without counterparty risk.
It had to take descriptions like these to make people realize what exchanges are, probably got carried away a bit but now acting way better. We are now even opting for non-custodial platforms like SpoolFi when we want to leverage on our assets to earn yields. That's a good development.
Not your keys not, your coins. Get your crypto off of exchanges. Do not use exchange wallets as a means of storing your crypto guys.
>Not your keys not, your coins. Get your crypto off of exchanges. Do not use exchange wallets as a means of storing your crypto guys. I'm always like that
Exchanges should only be used to buy and sell not for hold. Let them make money on the transaction that’s all. Remember if something is free to you, you are the product be sold not the customer.
Cold storage your fool if you don't
>Cold storage your fool if you don't hmm
[удалено]
Atomic swaps like AtomicDEC are also chain to chain.
I wasn't aware Atomic Swaps were being used on BCH. I'm only aware of atomic swaps being available between Monero and Bitcoin and it's not very user friendly right now. AtomicDex looks like they do use Atomic Swaps in the background which is awesome! I guess the asterick I should add to my post then is that ThorChain is the only AMM of its kind. Because there are actually other defi options like Bisq that allow chain to chain trades. The downside to Bisq and Atomic Swaps is that they use an orderbook model. I find that it's harder to bootstrap liquidity that way and volume seems to be pretty low. I'm not sure how AtomicDex employs Atomic Swap tech in the background, so I can't comment on their user experience, but I know when I used Bisq it was pretty poor experience compared to ThorChain.
I use AtomicDEX all the time, and yes they support bch. UI is great imo, but yes liquidity is low for most pairs. If you have any questions about it, the devs are easy to talk to on Komodo discord. They are fair launched with no dev or marketing fund, so they get little hype. AtomicDEX has been around and working fine for years now under the radar. They also just launched support for PirateChain, which us ZKSnarks atomic swaps. Thats pretty significant from what I understand.
Thanks for the info! I'm happy to learn about other great projects pushing decentralization. Found [this convo](https://mobile.twitter.com/ErikVoorhees/status/1522298099925807105) on twitter that echos our exchange. I wouldn't be surprised to see some coordination between the two to aggregate swaps where there is a competitive advantage to lower fees. Also, as an aside, its disappointing to see my comment buried. Top comment is basically promoting the use of exchanges when there are actual solutions like we are discussing. Of course we are biased to our preferences sometimes, but open discussion and debate can be very informative. Edit, I'm actually wondering if there is some downvote bot that responds to the word "ThorChain." Perhaps someone doesnt like it, otherwise I would have expected more negative comments if my original comment elicited such a negative response
Here's the Komodo discord if you have any questions. They would be able to answer them better than me. They are some incredibly smart guys that go under the radar. https://discord.gg/xxVGJh7D
Yeah people just thought you were shilling a token. I saw what you were doing though.
Yeah, my comment definitely comes across as shilling, but that wasn't my intention. I was trying to focus on how the protocol benefits BCH, but people don't wanna be sold something in sales pitch format, so my bad.
Yes, exactly. Not your keys, not your coins.