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That's only the positives, on the flip side: - Your government can freeze your assets on a whim, because you criticised the wrong people or exposed some of the
by jedimind 5y ago
That's only the positives, on the flip side:
- Your government can freeze your assets on a whim, because you criticised the wrong people or exposed some of their institution's crimes ( whistleblowers ).
- Destroy your business in an instant, by cutting you off from funding and other services for whatever reason they deem appropriate.
Every system has its pros and cons, but I totally understand why people are excited about defi.
- ryan93 5y agoTo your first point how many people in rich countries have that problem. Seems like reversibility that conventional banks offer is way more useful to most people.
- Ekaros 5y agoOn first point. Hasn't blacklistings of wallets already happened? So I don't see any reason why wouldn't governments be able to enforce such as well? Or even major exchanges... Give a good reason and steal the money...
- jedimind 5y agoI am by no means an expert on blockchain protocols, but the whole point of Bitcoin or Defi is that a central authority is unable enforce their will on a whole network. You should consult actual experts on the matter tho
- Ekaros 5y agoBlockchain might not, but users of it such as very centralized exchanges certainly have. Outside things like Monero, enforcement where it matters is entirely possible.