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I had to scroll past far too many hot takes about how centralized exchanges signal the end of decentralization before finally finding someone saying this. Ther
by Zetaphor 6y ago
I had to scroll past far too many hot takes about how centralized exchanges signal the end of decentralization before finally finding someone saying this.
There is a decentralized version of every service that Coinbase currently provides and many more they don't, with the exception of fiat on/off-ramps. Until regulations change that's going to mean centralized entities that cooperate with the existing financial institutions.
That fact alone does not invalidate the significant progress being made in every other part of this space with regard to decentralization. Once my USD are converted to crypto I can leave Coinbase and fully engage with the decentralized ecosystem, only going back to a custodian like Coinbase if/when I want to return to USD or other fiats.
- xur17 6y agoTo me Coinbase has basically become a USD -> USDC onramp - everything else they provide can be done on decentralized exchanges in a way that is both cheaper, and (at least once you get used to the system) easier.