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Decentralization is not a goal of the modern financial system. Indeed for many reasons, decentralization is not desirable, as crypto-bros are about to find out
by woeirua 4y ago
Decentralization is not a goal of the modern financial system. Indeed for many reasons, decentralization is not desirable, as crypto-bros are about to find out when Tether blows up and takes out 3/4 of the market.
- horsecabletruck 4y agoTether is hardly decentralized and it blowing up will not have impact on the network. Who cares if a high-risk stablecoin crashing takes out the market price of ETH so long as the chain continues to fill blocks and protocols like DAI, RAI and USDC continue to operate as intended. > Decentralization is not a goal of the modern financial system. Many people in the world do want a broader range of options than “fiat in centralized digital bank.” Even the HN crowd sometimes praises cash and its peer-to-peer and censorship-resistance attributes. The ability to have a smart contract perform operations like atomically and trustlessly swapping two assets without human oversight is interesting. Maybe not to you, but to many users and industries.