Tuesday, April 16, 2019

Can we discuss the slippery slope of centralized exchanges having too much power?

Like many of us here, I've been in crypto since late 2012. At the time the ethos was different. It was less about making a buck and more about decentralization and a term I don't see often in these circles anymore, liberty.

With recent events surrounding BSV delisting, I am quite disturbed how much it seems the mainstream crypto audience is cheering for these so called leaders and authorities. And I don't even support BSV at all, at most it is a worthwhile social experiment.

If wealth and specifically, power, continues to centralize at the top...we will be repeating the mistakes of the past..maybe over the next 100 years so it's worth it for us now but I don't know, maybe that is destiny.

I'm a long time power user of various DEXs and I'm hopeful for the future with projects like Resistance going mainstream, on-chain order books existing, and atomic swaps becoming more and more usable. Seeing the waves of people so gladly follow CZ has disturbed me, even though I use Binance. I am weary of this industry's future if this trend continues. There will eventually need to be a cleansing and multi-year bear to restore the original purpose of this revolution..else the Bitcoin experiment is likely to fail by many of the older adopters definition.

Not your keys. Not your coins. Become sovereign or stand to lose everything.


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