I’ve been using Cryptobridge for a while now and while I like the concept of a decentralized exchange, there are still definite issues with decentralized exchanges for DEX’s as they are referred to.
For one the order placement is not immediate and depends on the latency of your connection to your node. Over the past day or two many of the nodes have been down and there are a few seconds between when I can place my order and when the order is registered and that’s if it can confirm at all. There have been many times where I get the message that my order timed out before it can be confirmed because my latency was probably too long. There are other nodes closer to me but they are down so I had to connect to a node in London while living in the United States. This is quite annoying and pushed me to do my ColossusXT trading to Cryptopia instead where I can place orders without any lag.
Second placing a buy or sell order and cancelling it is not free. Now the fee is pretty insignificant but it is a minor annoyance and is the price of doing everything decentralized and on the blockchain.
Third, and most importantly, the displayed price in Satoshi is not always precise. This drives me crazy. There are many times when I see a buy order and a sell order at what seems to be the same price and the orders are not going through. That doesn’t happen on a centralized exchange. This is happening because the Bitshares system allows more precise measurements of less than 1 Satoshi so a buy at 7 satoshi and a sell at 7 satoshi may not quite be the same price. However, I tried placing a sell at 6.9 Satoshi and the system just rounded me up to 7 so you can’t really place orders differentiated by fractions of a satoshi. This raises a large problem for people who day trade because we base our strategies and trades on the exact price ratio of alt coins to bitcoins. Without being able to see the exact price and not being able to put in an order at that price, it really does not work as well. So, Cryptobridge either has to let us easily put in order at fractions of a satoshi or just say that you can only place or sell orders at whole Satoshi values because the way it works right now makes no sense.
Overall, I do like the decentralize concept and I do enjoy trading on cryptobridge, but there are definite problems it needs to overcome if it ever wants to be mainstream.
Coinpot started issuing its own coinpot tokens you can use to convert to other coins or buy tickets for their hourly lottery. I’m just going to hang onto all of mine and maybe they’ll hit an exchange someday and actually be worth something.