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> In light of Kraken’s decision and the social crises in San Francisco, the region’s hold on crypto and the future of finance may falter. It is interesting tha
by a4isms 5y ago
> In light of Kraken’s decision and the social crises in San Francisco, the region’s hold on crypto and the future of finance may falter.
It is interesting that one of crypto's guiding principles is to decentralize finance, however venture capital-backed startups and technology companies are still subject to physical network effects.
- CyberDildonics 5y agoAn exchange's guiding principle is facilitating trades with a spread so they make money when it changes hands.
- a4isms 5y agonon sequitor?
- CyberDildonics 5y agoKraken is an exchange, that's what their business model is and how they make money. Talking about "crypto's guiding principles" is a non-sequitir because that has nothing to do with this. Kraken is a corporation, did you not realize this?
- a4isms 5y agoI'm fully aware. I was just musing that it is interesting that the culture around the digital instruments of crypto is not always aligned with the corporate culture around companies making/trading/facilitating/mining the digital instruments of crypto. I also find it interesting when I see companies making organic-this and organic-that, but their factories aren't particularly eco-friendly. There's no law saying that a company can'r greenwash its products, but it's interesting when you see it.
- CyberDildonics 5y agoI don't even know what point you are trying to make. You think that because the money that an exchange uses is decentralized (in an automated way) that they wouldn't have an office or that they wouldn't care about crime around their office affecting their employees?
- a4isms 5y agoIt wasn't a point to debate, it was an observation that I find it interesting that these two orthogonal issues: 1. whether an industry built on people doing business with each other has physical centralization effects, and; 2. whether that same industry is built on decentralizing the product/service/technology at the center of its business... Should: 3. Be in opposition to each other. There's nothing particularly important about that, it's just interesting to me that "decentralizing finance" may decentralize the instruments, but not the industry itself in a certain sense. That's all, really.
- CyberDildonics 5y agoExchanges to fiat aren't built on decentralizing anything, they are explicitly about centralization. Why would it be interesting that a financial company would have an office?