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Why decentralisation is a bad idea, take 340828493.
by makarb 9y ago
Why decentralisation is a bad idea, take 340828493.
- celticninja 9y agoDecentralisation isn't the problem here though.
- empath75 9y agoI'm glad we could get federal regulators and banks out of financial markets so that scammers can manipulate markets and build Ponzi schemes in peace.
- makarb 9y agoOf course it is. No regulation = one entity ends up controlling the whole cake.
- nihonde 9y agoI would agree if the existing regulators were doing a decent job of avoiding major anti-consumer blowups. But they really aren't.
- _e 9y ago"They" aren't because the "players" give them very lucrative jobs when "they" quit their govt jobs. Its the classic you rub my back and I rub yours.
- celticninja 9y agoThen the issue is no regulation not decentralisation.
- makarb 9y agoBitcoin is decentralised, thus it cannot be regulated. And this is the result. So decentralisation is the issue.
- api 9y agoEverything gets gamed. You game a centralized system with regulatory capture or control of it's information sources. All financial systems are a Red Queen's race.
- deleted 9y ago[deleted]
- erikb 9y agoI would even argue that you have a point here. But the example is one where centralization through exchanges is the actual problem, not decentralization. Maybe find another example?
- wolco 9y agoCompletely agree. This is the story of one exchange. Having more exchanges helps the goal.
- Legogris 9y agoI'd rather say that at least the main issue of the author - that Bitfinex are abusing their position - would not be an issue with decentralized exchanges.