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At that point, what's the purpose oF crypto then? Wasn't decentralized supposed to be the benefit of it?
by arbuge 3y ago
At that point, what's the purpose oF crypto then? Wasn't decentralized supposed to be the benefit of it?
- baby 3y agoTo paraphrase the first episode of https://podcasts.apple.com/us/podcast/two-and-a-half-coins/id1642630194 https://podcasts.apple.com/us/podcast/two-and-a-half-coins/i... the banking world was already decentralized, so much that it’s inefficient and insecure. Crypto, at least part of the technology, is about simulating some sort of centralization by using a distributed database (which is resilient to byzantine faults). So banks can switch backbone for a more efficient and secure one, users don’t have to know or care about it.
- hn_throwaway_99 3y agoExactly. Crypto enthusiasts are slowly building up the traditional banking system, a couple million-dollar hacks at a time.
- andrewmutz 3y ago> At that point, what's the purpose oF crypto then? Rugpulls and ponzi schemes
- 6D794163636F756 3y agoI'm sure there are other types of scams too right?
- martin8412 3y agoFront running
- johnyzee 3y agoThat you can choose.