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> people reinvented the entire financial system on top of it That's the goal, to remove intermediaries and trust. There are permissionless and trustless appli
by hanniabu 3y ago
> people reinvented the entire financial system on top of it
That's the goal, to remove intermediaries and trust.
There are permissionless and trustless application, but HN likes to use centralized scams like FTX to dunk on crypto and feel smug.
It'd be like me pointing to bernie madoff and saying "see, I told you all of the stock market was a scam!"
- DontchaKnowit 3y agoOkay but what percentage of the total value transacted in crypto happens on centralized exchanges? If I had to guess, probably something like nearly all of it. You are talking about a fringe minority or crypto transactions. everyone else is talking about the reality on the ground.