Topic: Crushing some crypto myths for newbies (Read 303 times)

you can't generalize this with only an exchange example.
centralization is not a bad thing but centralization of what? you said projects, is it the altcoin projects? i agree it is not a bad thing to even have a fully centralized altcoin BUT as long as they are honest about it. a centralized altcoin that pretends to be decentralized is the worst thing.

i completely disagree.
trading, specially trading cryptocurrencies is one of the hardest tasks of all. and it is not just about emotions that you talked about here, it is about the fact that most of this market is manipulation, specially when it comes to altcoins it becomes even more severe and being in a manipulated (pump and dump altcoin) market it sometimes becomes an impossible task to make any profit.

Transparency has to be the watchword in the crypto space. There are often thousands of people worldwide investing during ICOs and a lot of them lack the technical  knowledge of what is really happening.
I believe cryptocurrency and decentralized projects need to take the word transparency more seriously and give an unlimited and unbiased insight into what is going on with the money that have been invested in the company.

We are willing to make money with people around us, but we can't avoid the risk.
So don't give any investment advice to others easily, and don't trust any investment advice easily, because people always make excuses for their investment failures and blame "others' suggestions".
Usually, if we think that one thing is worth investing, then we can tell others why it is good, but don't strongly recommend others to buy, such as bitcoin, we can introduce the benefits of bitcoin to people around us，but we must not make any purchase suggestions, otherwise we will have a lot of trouble, some people even think of you as a "scammer".

You nailed it! Sad to say but that is one of the major mistakes done by the beginners in the crypto world — believing too much in FUDs. Every time there are slow pace recovery of price or even occasional huge dips they suddenly panic and already jump into conclusion that btc is dead and the alike . I feel pity for them.

Each one of us should learn to interpret the market by our own and only set the news that we heard as a guide. You should be the one who make decisions for the prosperity of your money, if you let those crypto analyst or so called "experts" manipulate you then the blame is on you once you lose because you are careless to let others decide instead of yourself who owns the money in the first place.

No wonder a lot of people have been shouting that that the cryptocurrency space should be regulated. to check mate some scam activities.

Bitcoin aims at creating a community of people who desire total control of their assets and holdings, not everyone wants that responsibility, as such most still patronize banks.
Decentralization is not the only qualityvof the blockchain technology. It's also immutable and transparent.

We as a community have taken decentralized and made it a buzzword. Bitcoin is also extremely effective at making centralized organizations transparent. I’m always disappointed with the lack of entities using the blockchain to strengthen transparency of their operations. I’ve even seen escrows go out of their way to not be transparent with their actions. We as a community need to demand greater levels of transparency from those that interact with the blockchain using other people’s money.

The idea behind blockchain technology was so power can be given back to the masses through peer2peer transaction but they aren't ready yet to receive that power that's why centralize project are still succeeding more than the decentralized ones.
Op I believe you must have heard binance is almost through with the development of a decentralized exchange that's just to tell you how powerful such a technology is. DEX is the future even binance knows that. But until then lets enjoy the centralization while it last.  

I totally agree with you on this. Most projects just want to have that decentralisation while they can actually perform better being centralized.

Centralization is not totally bad
Centralization in the crypto space is not totally a bad idea as some fully decentralized projects have  not lived upto their centralized peers. A good example is binance vs the bulk if decentralized exchanges. Binance is head and shoulders above them as regards liquidity and market reach. However some centralized exchanges have shown signs of vulnerability. So this is somewhat of a mixed zone.


Hacking is very real and Privacy is important
Most newbies take privacy with a pinch salt. The while essence if the crypto and decentralized movement starts with privacy and anonymity. The more private you are about your crypto exploits the less likely you are to get hacked because you wont have the obvious target on your back. Also considering regulations about legality and taxation are still sketchy, it is better to keep everything private.

Currency trading is easy.
Trading of cryptocurrencies like other financial or traditional assets is not necessarily a hard task. However a trader has to me emotionally capable, always be ready to take profits from time to time (starving off his/her greed). Most importantly, if the market is going bad, don't rely on any crytpi experts. No one owns the market and no one knows how the market will behave. play it safe and you will be good.

I hope I have added value. kindly reply with your ideas.