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I find this piece of information a bit hard to understand. If you don't mind kindly throw more light on it. Are you saying peer-to-peer is not recognized on centralized exchanges?
A centralized exchange is different from a peer to peer exchange. In a centralized exchange the exchange controls everything, even when you want to trade with peers, you must release coins to the exchange, and then they will release to the buyer after you have received payments
In a decentralized or peer to peer exchange, you and the buyer or seller carry out your transactions through smart contract without any party giving up custody to the exchange at anytime.
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I find this piece of information a bit hard to understand. If you don't mind kindly throw more light on it. Are you saying peer-to-peer is not recognized on centralized exchanges?
A peer to peer transactions means there is no mediator. User A transfers directly to User B who receives it and makes payment. There is no third party involved and if there must be to ensure security, it would be an escrow who has limited activity in the transaction.
Ina centralized exchange, User A first has to deposit his funds to the exchange, then transfer it to User B still within the exchange. User B then makes the payment.
At any point during the transaction, the exchange can cancel the transaction and seize the funds.
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Detroit;6364 wrote:I find this piece of information a bit hard to understand. If you don't mind kindly throw more light on it. Are you saying peer-to-peer is not recognized on centralized exchanges?
A peer to peer transactions means there is no mediator. User A transfers directly to User B who receives it and makes payment. There is no third party involved and if there must be to ensure security, it would be an escrow who has limited activity in the transaction.
Ina centralized exchange, User A first has to deposit his funds to the exchange, then transfer it to User B still within the exchange. User B then makes the payment.
At any point during the transaction, the exchange can cancel the transaction and seize the funds.
I'd that is core t then, using any exchange at all is bad since they (exchange) can cancel on me while I'm still transacting. But this brings me to the next question, do they take my funds as well when they canceled on me?
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I'd that is core t then, using any exchange at all is bad since they (exchange) can cancel on me while I'm still transacting. But this brings me to the next question, do they take my funds as well when they canceled on me?
I don’t think you still understand how a centralized exchange works, they can seize your funds if you violate any of their regulations, and the power they have to seize your coins is because you have to send the funds to them before you complete your transaction. But in a peer to peer exchange, a third party does not hold the funds so they cannot seize it from you.
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Detroit;6504 wrote:I'd that is core t then, using any exchange at all is bad since they (exchange) can cancel on me while I'm still transacting. But this brings me to the next question, do they take my funds as well when they canceled on me?
I don’t think you still understand how a centralized exchange works, they can seize your funds if you violate any of their regulations, and the power they have to seize your coins is because you have to send the funds to them before you complete your transaction. But in a peer to peer exchange, a third party does not hold the funds so they cannot seize it from you.
That's very correct mate, the power centralized exchanges have over someone's funds is crazy and personally I think it's a violation of the person's right.
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The match between Liverpool and Chelsea is finally over and it ended a draw. I am not really impressed with either of the team as they didn’t play with any form of zeal or interest to win.
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Hey guys how is the talks about the special board going? This is one of the suggestion that I think the team should actually look into and try to implement it immediately.
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Detroit;6504 wrote:I'd that is core t then, using any exchange at all is bad since they (exchange) can cancel on me while I'm still transacting. But this brings me to the next question, do they take my funds as well when they canceled on me?
I don’t think you still understand how a centralized exchange works, they can seize your funds if you violate any of their regulations, and the power they have to seize your coins is because you have to send the funds to them before you complete your transaction. But in a peer to peer exchange, a third party does not hold the funds so they cannot seize it from you.
Nevertheless, it's not all centralized exchanges that operate in this although 95% of all centralized exchanges usually confiscate the fund of users that violate their rules and regulation we also have some centralized exchanges that are anonymously based and never confiscate funds which Crypton exchange is one.
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Camavinga;6638 wrote:Detroit;6504 wrote:I'd that is core t then, using any exchange at all is bad since they (exchange) can cancel on me while I'm still transacting. But this brings me to the next question, do they take my funds as well when they canceled on me?
I don’t think you still understand how a centralized exchange works, they can seize your funds if you violate any of their regulations, and the power they have to seize your coins is because you have to send the funds to them before you complete your transaction. But in a peer to peer exchange, a third party does not hold the funds so they cannot seize it from you.
That's very correct mate, the power centralized exchanges have over someone's funds is crazy and personally I think it's a violation of the person's right.
Yes, centralized exchange rules and regulation does not give room for user liberation but they never violate human right that's if you read their terms and condition before you make use of their exchange site.
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The match between Liverpool and Chelsea is finally over and it ended a draw. I am not really impressed with either of the team as they didn’t play with any form of zeal or interest to win.
Yes, the match is boring but I think Chelsea would have won the game if one of their players is not sent off the pitch base on how they still managed through the game.
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Hey guys how is the talks about the special board going? This is one of the suggestion that I think the team should actually look into and try to implement it immediately.
I will advise you guys not to bother yourself about things like this for now on this forum. The dev team is too busy for that and it they haven't added more pairs to Crypton Exchange don't expect the special board.
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Hey guys how is the talks about the special board going? This is one of the suggestion that I think the team should actually look into and try to implement it immediately.
We do not have any new information on this, like you know none of us works closely with the developers and admins of this forum, neither do they comment in posts, so we have no information about it, we just have to wait for either an official response or implementation.
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Hey guys how is the talks about the special board going? This is one of the suggestion that I think the team should actually look into and try to implement it immediately.
The team is surely looking into all our suggestions and would chose to act on which one they consider to be a fit at the time.
We cannot pressure them to take an action that they are not ready for at the time even though we the forum members think it to be a good idea.
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Guys we have seen the 500 crp Crypton giveaway Utopia p2p did during the World Cup, that was awesome if this could probably happen again or something close to it, then we may see more members coming in.
How did you know? Are you part of the winners who got the coins?
Well, if that's true, congratulations mate. I hope it happens again at least there is more traffic here to carry the promotions or campaign.
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KAMSI_UG;3280 wrote:Guys we have seen the 500 crp Crypton giveaway Utopia p2p did during the World Cup, that was awesome if this could probably happen again or something close to it, then we may see more members coming in.
How did you know? Are you part of the winners who got the coins?
Well, if that's true, congratulations mate. I hope it happens again at least there is more traffic here to carry the promotions or campaign.
Well you don't have to be part of the winner to know about this the 500 CRP contest was well published and it was knew person that went home with that price.
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I hope it happens again at least there is more traffic here to carry the promotions or campaign.
I believe it would happen again. I missee the first one, but from what i noticed it was a great contest that increased the forum traffic, maybe by the next international tournament, the admins will organize another tournament that is similar and i am sure i would not miss out on it.
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using any exchange at all is bad since they (exchange) can cancel on me while I'm still transacting. But this brings me to the next question, do they take my funds as well when they canceled on me?
Not any exchange. Decentralized P2P exchanges do not hold your funds and have no interest to slow down the trade. Centralized exchanges on the other hand have all the control during the trade; they hold the funds and have terms of service that allows them to seize that fund for any reason they consider worth it.
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It’s not correct that using exchanges are bad no I won’t accept that, because we all need to use Exchange especially those that aren’t comfortable using direct peer to peer, I believe that centralized exchanges are better.
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It’s not correct that using exchanges are bad no I won’t accept that, because we all need to use Exchange especially those that aren’t comfortable using direct peer to peer, I believe that centralized exchanges are better.
I agree with you mate. Also provided that the users don't use exchanges as their savings or bank but just as an exchange that it is. So many cryptocurrency users have fallen into this trap all the time.
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CrytoCynthia;6959 wrote:It’s not correct that using exchanges are bad no I won’t accept that, because we all need to use Exchange especially those that aren’t comfortable using direct peer to peer, I believe that centralized exchanges are better.
I agree with you mate. Also provided that the users don't use exchanges as their savings or bank but just as an exchange that it is. So many cryptocurrency users have fallen into this trap all the time.
It is a crazy mistake to make to trust any exchange strong enough to leave your cryptocurrency on such exchange is not just wrong it can lead to you losing it.
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Guys it's just a rumor but with the red alert on binance now is the safety of an exchange assured right now? And how does this affect decentralized exchange like Crypton Exchange?
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I am still in the support of the creation of this board, it would serve as a link between the project developers and the community on issues that's relating to the forum.
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I am still in the support of the creation of this board, it would serve as a link between the project developers and the community on issues that's relating to the forum.
Creating this board will facilitate serious growth in the Utopia community. The developers need to hear directly from the users. This will help develop some sort of mutual understanding between both parties
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I believe this special board would be like a support group or channel for the forum where matters that concern's the forum can be tabled.
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I believe this special board would be like a support group or channel for the forum where matters that concern's the forum can be tabled.
Yes and also the special board can also act as a form of intermediate between the team, the forum and the forum members, it can help newbies understand the forum well.
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