The more I go deep into crypto the more scary it becomes, here are three points that I haven't been able to get over still
1. I believe that the word ' decentralized ' is a complete lie, I'd like stop start from decentralized ( dex ) exchanges, these exchanges are still been controlled by person, how is this decentralized?
2. Most Stablecoins too are unclean to me because there is no proof of been backed by anything, meaning most of them are illegal, unregistered or would rather say unlicensed.
3. 99% of Lending and borrowing DeFi projects are scam, might be hard to believe now but in time the truth will be revealed, it's all about having a deep thoughts about these projects, what's actually backing them? We are been controlled by con artists right under our nose once again after we've thought we've learned the worse in 2017.
Some will agree and some won't but it's a free world, can we really escape manipulations? I doubt that, what's your take on this? Do you agree or disagree? Don't hesitate to drop your comments
First, decentralization is not a complete lie, there are elements of truth in it, how? The only coin which is decentralized is Bitcoin and that's it, which is also the reason it is the most trusted, others be it decentralized exchanges, coins and tokens aren't decentralized, although some might display features of being decentralized but they aren't 100% decentralized.
Secondly, I agree with you about stablecoins, which is why I think it is not wise investing or holding them for long but just using them for a certain time and be done with it. Also, owing to the fact they are highly centralized is enough reason to be careful of them.
Thirdly, about Defi, I would say 95% are just scams which reached where they are today because of hype, and sooner than later the truth will be known.