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Playing devil's advocate, the thing that these exchanges can, and often do, try to hang their hat on is anonymity. While through hard work (and lots of money) i
by John23832 10y ago
Playing devil's advocate, the thing that these exchanges can, and often do, try to hang their hat on is anonymity. While through hard work (and lots of money) it can be "had" on the mainstream markets, financial anonymity is not something that you average joe really has access to on the major markets.
That being said, is that added benefit worth the (much MUCH bigger) risk of your money going up in smoke? Personally, I don't think so.
Overall, I agree... The reinvention of the wheel for the sake of it is laughable.
- devishard 10y agoYou're right, they do try to hang their hat on anonymity, but when they do that, it's pretty much an outright lie. Centralized Bitcoin services are regulated and tied to other financial services. Coinbase knows exactly who I am. And while you can break the identity chain with tumblers etc., that requires going outside centralized Bitcoin services. Bitcoin isn't trivially anonymous, and centralization almost universally comes with regulation that prevents it from being anonymous.