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the decentralization of cryptos like bitcoin refers to the source of the money (the miners), not its end location. most of the "contradictions" come down to mis
by mike741 9y ago
the decentralization of cryptos like bitcoin refers to the source of the money (the miners), not its end location. most of the "contradictions" come down to misunderstandings like this. there's nothing that forces me to use a particular exchange and if the exchange crashes it will not affect my personal wallet, and i can feel safe knowing no 3rd party can come bail out the failed exchange at my indirect expense.
- mcguire 9y ago"... i can feel safe knowing no 3rd party can come bail out the failed exchange at my indirect expense." Er, well, no. You can feel pretty safe that no 3rd party will come bail out the failed exchange, but I'm not sure how you could conclude that they could not. At least, until all the bitcoins have been irrevocably lost.