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Doesn’t that just mean the trading is done by a trusted third party? Fine until the third party goes belly up.
by 0cf8612b2e1e 3y ago
Doesn’t that just mean the trading is done by a trusted third party? Fine until the third party goes belly up.
- vgatherps 3y agoThis is how most asset trading works, but outside of crypto these third parties are actually trustworthy
- JumpCrisscross 3y ago> outside of crypto these third parties are actually trustworthy With multiple layers of mutualised failsafes.
- vgatherps 3y agoDon't forget meaningful regulations and legal requirements placed upon these parties
- junofan 3y agoWell, one might argue they’re trusted to grift retail. The money firms make doesn’t come out of thin air. SEC is fairly toothless in this area.
- Scott_Sanderson 3y agoYes, the exchanges are 3rd parties that could lose, and often do lose, the money
- HWR_14 3y agoI thought the (noncrypto) financial exchanges made a very small amount of money on every trade.