anyone who’s been following this stuff knows “trusting” 3rd party mostly unregulated “exchanges” is a bad idea cmon. I personally had to blackmail coinbase! Mt Gox was like 10 years ago!
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Right. Which means the decentralized money dream is pure fantasy wrt the masses.
If you live in a tyrannical country do you want to a) do business with a govt-aligned bank, or b) a 3rd party crypto exchange, or c) try to maintain your own wallet and get laughed at on reddit when you do something wrong and lose all your shitcoins? Pick your poison
So any time you hear the claim that decentralized money will liberate people living under repressive dictatorships - just be sure qualify it with “only applies to crypto bros”.
If only the crypto bro’s had understood the inherent risks of non-obfuscated blockchain transactions, centralized exchanges, and KYC regulations. If only they had foreseen the utility of alternative chains that prioritize privacy. They could have developed decentralized exchanges as an alternative to centralized ones. They could have encouraged P2P transactions. They could be dumping enormous amounts of effort into protocols that deliver on the promises of true decentralization and perhaps already have many fully functional alternatives available.
Alas, that can never be. We are forever stuck with all of the permanent flaws of the very first blockchain ever developed. All its shortcomings are insurmountable, in large part because prior to to today nobody could have possibly even known of them or sought to solve them. The end is nigh. All has failed.
Crypto folks have been agreeing with your premise regarding centralized exchanges since at least 2013. You’re the one that’s misremembering the principle here.
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Lol you have bad analogy brain. I’m talking about the very specific claim that crypto will liberate people in repressive dictatorships by letting their money move freely. Are you denying this claim was ever made, or pretending it’s still plausible somehow?
are we allowed to talk about slave ship owners in this thread again yet or not?
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So no one’s made any pie-in-the-sky claims about decentralized money for the masses or crypto liberating people living under repressive dictatorships since 2013?
They have. Not through using centralized exchanges. In fact they specifically warned against it over and over again.
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Sure - list all your investments and I’ll tell you where the evil lies.
Right - so only crypto bros - which is exactly what I’m saying.
A whole lot of the pitfalls of crypto seem to involve maintaining your own wallet, and doing it well. Normies are never going to want to do that.
If crypto ever going to live up to 1% of the hype for anything other than making money for early adopters, it needs a better solution than just laughing at people who fuck up and lose their whole wallet.
Or laughing at people who stupidly trust an exchange, which isn’t even based in their own country, to not hand over their transaction history to the local despot.
Maybe, maybe not. It’s certainly much easier than figuring out how to use a computer from scratch. And yet the entire planet managed to do it in the 90s/00s.
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And when I point out that [Claim X of how crypto will change the world] will never fly, because 98% of the population will never want to maintain their own wallet, you’ll have another bad analogy waiting for that.
It’s like the two halves of the crypto brain never talk to each other.
On one side: Crypto is just in its infancy, wait until it really takes off and chances everything.
On the other side: LOLOLOL at you for trusting the easy way to use crypto. Here set up this wallet and avoid every stated and unstated pitfall. When you stumble on one you haven’t heard about before and lose everything, prepare to be laughed and at told, “well duh, of course don’t do XYZ, everyone knows that”.
Yes - definitely a recipe for changing the world for the masses. Crypto confirmed still in its infancy.
It’s licensed in their country. It’s linked to their also-licensed traditional bank accounts and they collected identifying information beforehand. Putin isn’t hacking into the blockchain to get revenge
Ah yes - licensed and auto-licensed, of course. No company has ever refused any invasive request for their customer’s sensitive personal data from a tyrannical despot. Not once they’re licensed in that country. It’s just not done.
What rotten luck that wallets are bit complicated right now. Yet another completely unsolvable problem that absolutely nobody is working on, or even aware of.
I don’t have the potential to lose everything I own if I fuck up trying to install TurboTax.
I think you’re confusing humorous memes about people losing their bored apes with the actual amount of empathy towards those who are scammed.
With that said, I’m not defending Binance. They are a pretty shitty company and likely fucked up here.
This is exactly my impression. Care to enlighten me on current developments in making wallets more accessible to normies?
Maybe I missed it, but not one crypto bro itt has ever expressed the need to make wallets more accessible to the masses. In fact many are arguing right now that it’s not even a problem. Maybe you should argue with them.
Umm yea the hundreds of scam emails that people have been receiving every day for the last 30 years have never made anyone lose their net worth.
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- Navalny is a political activist that opposes Putin
- He operated offices and anti-corruption foundations
- Conveniently those were declared “extremist” (not terrorist) before the last sham election making him ineligible to run
- That was less than a year ago
- People before then made donations to a political activist, not a terrorist
- Now their data is turned over to the Russia oppression machine
I guess the morale of the story is to never donate to any cause because who knows if they turn out to be “terrorists”
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