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Ditto the "centralization" purity test. No decentralized system can fail ergo if it failed it wasn't decentralized. This doesn't apply to FTX of course which wa

Ditto the "centralization" purity test. No decentralized system can fail ergo if it failed it wasn't decentralized. This doesn't apply to FTX of course which was more centralized than a black hole and never claimed otherwise - but it's another instance I've seen tossed around in the collapse. The truth is nothing in crypto is really decentralized, though, and decentralization isn't in and of itself a useful end. It's a means to an end nobody's discovered yet.

JohnAaronNelson 4y ago
Money laundering, black market money transfers, tax evasion.
WalterSear 4y ago
> Ditto the "centralization" purity test. No decentralized system can fail ergo if it failed it wasn't decentralized. It's a trick: Nothing in crypto is decentralized. Decentralization (ipfs, orbitdb) is dying on the vine because you can make vastly more money in crypto - because it's centralized.