5 ms·
Also turns out that "decentralized" in practice means "centralized"
by k2enemy 4y ago
Also turns out that "decentralized" in practice means "centralized"
- ahzhou 4y agoCentralization is more efficient than consensus building.
- acjohnson55 4y agoThis is true. Don't know why people are down voting you. But it calls into question why we need centralized exchanges of decentralized assets. The answer, of course, is financial speculation and sophisticated shell games that make some folks billionaires at the cost of the marks who get suckered into believing they're getting in the ground floor of the next big thing.
- pshc 4y agoOnly if the central entity can be trusted not to become a corrupt rent seeker. (Looks meaningfully at TicketMaster)
- ahzhou 4y agoI agree with this as well. Efficiency is orthogonal to desirable outcomes. My point is that things tend towards centralization because the market rewards efficiency.
- joyfylbanana 4y agoNobody forces you to use Binance or FTX. I have been using Bitcoin for 10 years and I've always stored more 90% of my BTC in my own self-custody wallet, only used exchanges briefly.
- xmonkee 4y agoWhat have you been "using" Bitcoin for, may I ask?
- commonlife 4y agoBuying MDMA safely. This isn't a joke. Drug prohibition causes harm, crypto provides a much safer way to obtain psychedelics. If all your purchases are safe for the state to be aware of, good for you.
- notch656a 4y agoIt seems insane to me people would buy/sell drugs in a prohibition nation on a public ledger.
- Phlarp 4y agoFor whatever it's worth, the federal authorities have very little budget/mandate to prosecute darknet drug distribution offenses. They go after the darknet markets themselves, money laundering / sanctions avoidance and maybe firearms. Meanwhile the local authorities don't know what most of those words mean.
- commonlife 4y agoMonero
- joemazerino 4y agoYou may not ;)
- joyfylbanana 4y ago- Long term "Savings account" - a volatile one, of course - I buy stuff from online with it, household items (In country I live you can basically buy anything with BTC) - Travel, I book hotels/flight with it and once I rented a boat for a family trip In addition to that I now and then try to pay with Bitcoins at other stores. Last time got excited about boltcards (https://github.com/boltcard/boltcard https://github.com/boltcard/boltcard) there are few places in my country which accept it, but it is quite a new thing.
- nicbou 4y ago
- Jommi 4y agoin which part of this discussion has anyone talked about something decentralized? This is about two centralized exchanges that hold custody of users cryptoassets
- m00dy 4y agoFuture is decentralized. Even CZ knows this :)
- joemazerino 4y agoDexes like uniswap have been doing just fine
- m00dy 4y agoSo few people understand this. But, don't worry. Great inventions need some time to be realized.
- Eisenstein 4y agoCan you name off the top of your head 5 great inventions that weren't immediately realized?
- MacsHeadroom 4y agoNotably, the internet was widely thought to be a fad for the first ~20 years.
- hotpotamus 4y agoI suppose it depends on how you're defining the first year of the internet, but I don't remember many people thinking it was a fad. I'd say it's the one invention in my life that has actually lived up to the hype.
- Eisenstein 4y agoNotably, according to crypto evangelists. No one thought the internet was a fad. It had a time when it was novel and therefore people who didn't know how to use it would make fun of it, but absolutely no one who used it thought it was a 'fad'. As soon as the first web browser became accessible to consumers the dot com era exploded. There is a difference between 'didn't hit mass adoption due to massive infrastructure needing to be built in real time' and 'we don't know what this is useful for'.
- MacsHeadroom 4y ago