The industry really just needs to stop using centralized exchanges. It's a single point of failure and we have better options now. Prices are higher on decentralized exchanges because everyone seems to be happy having their money sitting in a ruby on rails hot wallet trading script made by some 12 year old kid living in his mom's basement instead of using services like bitsquare or the bitshares decentralized exchange.
great point! i agree...the age of centralized exchanges should be nearing an end. it's kinda crazy that no matter how many security breeches we still don't have more capital in the p2p exchanges, like the Bitshares DEX.
that said, centralized exchanges ought to cover deposits with reliable third party insurance. that's a no-brainer and, like you said, contributes to the higher cost of centralized exchanges.
The industry really just needs to stop using centralized exchanges. It's a single point of failure and we have better options now. Prices are higher on decentralized exchanges because everyone seems to be happy having their money sitting in a ruby on rails hot wallet trading script made by some 12 year old kid living in his mom's basement instead of using services like bitsquare or the bitshares decentralized exchange.
great point! i agree...the age of centralized exchanges should be nearing an end. it's kinda crazy that no matter how many security breeches we still don't have more capital in the p2p exchanges, like the Bitshares DEX.
that said, centralized exchanges ought to cover deposits with reliable third party insurance. that's a no-brainer and, like you said, contributes to the higher cost of centralized exchanges.