Buy crypto anonymously on the Incognito pDEX   

would the app be a centralized funnel?

#1

Shall we talk about decentralization?
As we know, the robustness of a system is measured by its weakest part. Therefore, it seems to me that the APP would be a centralization point, that is, if the app stops working, as it happened yesterday, there is no alternative. Our investments are blocked. Is that correct?

If my btc wallet stops working for any reason, I take the seeds and open my wallet in many other ways. But what about incognito, how does it work? How do I access my funds if the app stops?

What if an agency arrests the developer team and tells them to take the incognito offline, for example?

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#2

Try to use the LIGHT SHADOW BOX Web Wallet

I think there are also other wallet/interfaces already developed or in beta.

#3

No problem, if you pay some commission to me, I’ll recover all of them (not the team, I mean money) :rofl: Aside from the joke, this shouldn’t raise any problem “in theory” since the project is open-source although it hasn’t been tested in the field yet. In that case, PRV and other Incognito-based coins will be safer. Well, since the team is arrested, they may be dumped a little :slight_smile: If the team gives the private keys to the police, probably bye-bye to the cryptos in the bridge vault wallets.

#5

You might be able to recover the PRV using your keys but ETH funds are held in a smart contract where the team has full access via admin keys and the non-eth assets are in custody by the team. It depends on what exactly happens to the team. Luckily most team members are outside of the some of what I consider to be the most “dangerous” jurisdictions for building crypto projects. You may or may not be able to access them using an alternative web wallet or similar.

There is some plan for decentralization later (and this year I think) with the availability for the community to become bonded custodians. There is still (almost) full trust needed for the team at this time.

Incognito is a privacy layer and delivers on this well. I’m looking forward to better security of funds in the near future. In the meantime I put my trust in the team. I don’t know if it’s smart or not but that is no different than almost all projects at this time.

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#6

Perfect marko!
I share your vision!
I think it is important to have a clear understanding of what the risks are. Not to give up on investment, but to measure how much we should invest and expose our capital to this risk.
I believe that to attract heavier investment, the project needs to become more secure, not requiring trust from investors
But I believe that this type of solution is being built.

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#7

I agree! I have more in incognito than I can afford to lose, and I haven’t decided exactly what to do about it because I love the vision being created! I hope funds will always be safe but to attract larger investment I agree trust should be eliminated. The privacy crowd is a particular bunch too.

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