Our community keeps learning the lesson of decentralization the hard way. Celsius Network. BlockFi. Voyager Digital. Now FTX.
With Bitcoin, Satoshi changed the locus of decision making from politicians to an automated code base, giving regular people the option to permissionless-ly participate in an alternative financial system, one where the rules are public, apply to everyone and execute automatically. Then, with smart contracts, Ethereum-based decentralized finance delivered these benefits in various forms to hundreds of thousands of people.
Despite sell-offs, Uniswap, Balancer, Curv, and other decentralized exchanges and decentralized finance platforms have been functioning smoothly, enabling users to exit their crypto positions or, if they prefer, to capitalize on low prices and buy in. Users may have seen their portfolios decrease in dollar value, but they never lost access to their assets. If that isn’t consumer protection, I don’t know what is.
Users should insist on a base settlement layer for economic activity that is as decentralized as possible, to avoid exactly the scenario that has played out in recent days. History may not repeat itself, but it sure does rhyme – and we would do well to heed the lessons it teaches.
amandacassatt I hope 🤞🥺
realKTMcFarland amandacassatt Once again this proves the point of GO WOKE AND GO BROKE. He was only 2nd to George Soros in donationing money to Democrats and those on the far left.
amandacassatt Tried to explain to a friend that this isn't about crypto. It's about a bad exchange that acted more like a centralized bank and has nothing to do with decentralized crypto like Bitcoin. Bitcoin doesn't need regulation, CEX does because of bad actors like SBF.
amandacassatt Sounds very culty
amandacassatt TIME, Iron Titan, Luna, The DAO, Ronin. The chain fails often too.
amandacassatt .amandacassatt speaking gospel as always
ameensol amandacassatt I agree with the point. But the language is decidedly religious, no? ALL HAIL THE CHAIN!
amandacassatt Scam Bankrupt-Fraud*
amandacassatt CeFi failed us...again and again and again. DeFi solves this. Transparent and verifiable! Fuck CeFi Viva DeFi 💃🏻
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amandacassatt I think the assumption that if given the chance, people will lie cheat and steal. People need to read the Story of the Ring of Gyges. And stop believing the myth that decentralization solves more societal issues than it brings.
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amandacassatt Back to basic, decentralized, scalability, security
amandacassatt There's no such thing as safe CEX.
amandacassatt saylor will deliver is from evil! Ill follow him into the depths of the void…. He has earned it!
amandacassatt Opinion: I'm Not In The Business. I Am The Business.
amandacassatt You know who hasn’t failed us? FTXClassic $FTTC FTTC
amandacassatt That's true. The chain is fine, its people who made mistakes they shouldn't have.
amandacassatt Bitcoin fixes this.
amandacassatt From Voyager to 3ac, Luna & now this. This is all being done purposely....but no one knows who pulling the strings
amandacassatt That proves the need of real decentralized blockchain like tezos. All VCs and centralized ones are simply garbage crypto
amandacassatt Lmao wut
amandacassatt This is all being done purposely. But no one can prove it.
amandacassatt the repeated crypto drama are all caused by centralized orgs. there are three layers of decentralization - technology model, operation model, biz model. if people only focus on technology but still keep operation/biz mindset in centralized model, we won't benefit from it.
amandacassatt cz_binance is the rat.