Comment by designerarvid
7 hours ago
Turns out that there are quite good reasons to have a centralised currency after all. Who would’ve known.
7 hours ago
Turns out that there are quite good reasons to have a centralised currency after all. Who would’ve known.
Isn't the centralization the reason they got stolen? It was Binance that was hacked, not the blockchain technology.
Individuals get hacked and their bitcoins taken so often that it doesn't make the news.
By the way, it wasn't just Binance that got hacked. Several other exchanges were hit too.
A supply chain attack? Do all these exchanges routinely import new cryptocurrencies?
Well in traditional banking you essentially have the ability to reverse
True, but it gets complicated or even impossible if you try to do across international/fragmented transfers & countries.
yeah the issue is if you built it they will co opt it
All systems can be bent, broken, or subverted.
not bitcoin-core in the past 14 years of being a public network
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Turns out the reason crypto was invented isn't "decentralization" at all, it was nerds feeling left out and wanting their own financial instrument grift.
You mean the smart nerds
For the less economical-savvy ones it was like Beanie Babies or Tulips (with predictable consequences)
I still buy tulips, just not at boom market prices.
The predictable outcome is that the deers get to them, but I got to see a few go into full bloom last year and it was wonderful.
Yes, but there are more good reasons to have it be decentralized.
Well sure, but the average consumer needs and/or wants some protections, safeguards and insurances. If my bank gets hacked or even if I get skimmed it's considered their fault and I'll get my money back.
>I'll get my money back.
If the police retrieves your money from the thief?
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