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Exchanges these days are casinos, not on-ramps. You can use them like that, but it's not their core business. There are trustworthy businesses (e.g keys.casa)
by RustyRussell 4y ago
Exchanges these days are casinos, not on-ramps. You can use them like that, but it's not their core business.
There are trustworthy businesses (e.g keys.casa) which help with custody. But it's a different business these days.
- deleted 4y ago[deleted]
- hungryforcodes 4y agoCasinos how exactly? Bitcoin crypto is meant to be self custodied. This is THE most trustworthy solution. You are just replacing one counter party risk with another.
- eurasiantiger 4y agoExchanges with dozens of tokens to bet on aren’t that different from horse races.
- hungryforcodes 4y agoSo this makes them different from TradFi stock exchanges how exactly?
- eurasiantiger 4y agoWell, going long on a TradFi stock is like betting that a draft horse can plow more field next year than the previous one. Going long on a DeFi token is like betting that the horse is more beautiful than the other horses in the stable
- Ekaros 4y agoThey are forex trading. So a way to gamble against others. With downside that they are even more opaque than fiat currencies. Not that there wouldn't be point for exchange if tokens had some real use or value. As forex exchanges have.