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I think it's because bitcoin trading can't actually use the network - it's too slow and expensive. So the exchanges and the stable coins are used as a proxy wh

by sgt101 4y ago

I think it's because bitcoin trading can't actually use the network - it's too slow and expensive. So the exchanges and the stable coins are used as a proxy which then means that they are disconnected from the actual currency. This means that there is an amplifier (leverage) on the way up, leading to spectacular bull runs. Also...

FabHK 4y ago
> bitcoin trading can't actually use the network Crypto trading on exchanges never uses the network. You send your crypto to an exchange on-chain, and all trading happening on the exchange then is off-chain: just adjustment of a few positions in the exchange's databank (as it should be: quick and efficient, within a centralised trusted institution).
misslibby 4y ago
Decentralized exchanges exist, but they can't trade with fiat money. One of the reasons why stablecoins exist.