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Every example from history suggests that decentralization never erases middlemen. How many people self-host crypto wallets? Why does Coinbase exist? As long a
by smt88 5y ago
Every example from history suggests that decentralization never erases middlemen.
How many people self-host crypto wallets? Why does Coinbase exist?
As long as things are being held, transferred, and sold, banks can build the expected financial abstractions on top of them and take a cut. There is nothing about crypto that will kill any big bank.
- xboxnolifes 5y agoIt may not kill banks, but it makes alternatives possible. I want decentralization for the same reason I try to avoid vendor lock-in. If the vendor I choose starts to go against my needs, I can choose a different vendor. If all vendors go against my needs, I can self-host. I cannot currently self-host online transactions. I have no idea how the future of cryptocurrency will play out, but I'm interested in watching.