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Yes. But cryptocurrencies are decentralised, and have coalesced around a few centralised entities. I imagine it won't be long before Coinbase, for example, wil
by edent 5y ago
Yes. But cryptocurrencies are decentralised, and have coalesced around a few centralised entities.
I imagine it won't be long before Coinbase, for example, will warn you against transferring to wallets which aren't held by one of the big providers.
- magicjosh 5y agoWhat do you think about Uniswap and other automated decentralized exchanges? These automated exchanges seem to be growing rapidly. At one point last year Uniswap had 77% of Coinbase's trading volume: https://tokenist.com/with-33x-fewer-employees-uniswap-has-77-of-coinbases-trading-volume/ https://tokenist.com/with-33x-fewer-employees-uniswap-has-77...
- g4zj 5y ago> I imagine it won't be long before Coinbase, for example, will warn you against transferring to wallets which aren't held by one of the big providers. Perhaps, but I'm not sure if that answers my question. Cryptocurrency networks are decentralized on their own, but I'd say the way we generally interact with them is not. It sounds like we agree on this point. However, whether a decentralized system is accessed through a centralized layer or vice verse, the result is a service that is not fully decentralized. If any entity, such as a bank, third-party banking service provider, cryptocurrency exchange, etc., is involved at any point, that entity effectively has some control over what happens on the associated decentralized system. This results in an at least _partially_ centralized system.
- emteycz 5y agoMy computer warns me before executing an unsigned program but that doesn't mean I can't do it or that it's not useful.