Not blaming centralisation or decentralization, this is just a thought

lenovop-70

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Quote from: 7deadlyBTCIN on February 14, 2022, 05:13:18 AM

Not all solutions are perfect 100% they comes with advantages and disadvantages, decentralized and centralized are needy in crypto space for prosperous crypto future it's not something to debate on honestly, which one works is all for good I don't care much because I'm here to make some money.

Well yes, I agree with your opinion, and I don't really care about the problem written above, as long as it's legal and gives me profit, I will definitely use it no matter what. I am responsible for the daily results from what I do as my job.
Maybe for me the writing from the OP is just for knowledge, and I don't think i am capable as a solution provider regarding this problem.

makishart

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Both have its own advantage and disadvantage. the problem is so many people are arguing if one from both is better than each other. In my opinion if the centralization and decentralized didn't matter a lot in this case. Both were needed in the crypto but the only thing that people may forget is about how to pro with both decentralization and centralization. Remember that once when you are dealing with regulation and this will always be centralized but when it comes to the blockchain and this will be decentralized. arguing decentralized or centralized will not solve this problem coz any entities have their own choice to be decentralized or centralized and it's the same when a token wanna be centralized or decentralized.

bitkanu

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Quote from: JayTrain on February 14, 2022, 12:20:08 PM

it seems to me that everyone has already forgotten about decentralization, at first it was relevant,

To be honest. Privacy was not even relevant since it was being created. Bitcoin already pseudonymous and it's enough for anyone to hide their identity from getting traced by others. This time privacy coin is not even relevant anymore to exist in the crypto market but this may different for those who are always using privacy coin to hide their transaction.

Quote from: JayTrain on February 14, 2022, 12:20:08 PM

now everyone is trying to regulate and control, so centralization is not so bad anymore,

It can't be controlled.

Quote from: JayTrain on February 14, 2022, 12:20:08 PM

just so that there is a compromise between the two sides and, most importantly, a choice.

Yeah but remember that you need to cash out your money and majority of cex implement KYC verification to its users. that makes privacy coin become not relevant anymore.

Flexystar

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First comes, first rules. Thing is, USDT made its way through crypto due to very first rule. Everyone started believing on it after seeing the unstable Market of crypto currencies and they thought its safe heaven to put the money in. More or less it was best place to keep your assets rather than withdrawing into bank and pay the unexpected taxes on your wealth. However, with the time the founders and members got an idea to keep the authorities to them and they had this very failed plan. But surely it’s still liked currency because it’s showing some steady growth and actual stability in all market trends. So what to judge now ?

Coin_trader

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Quote from: JayTrain on February 14, 2022, 12:20:08 PM

it seems to me that everyone has already forgotten about decentralization, at first it was relevant, now everyone is trying to regulate and control, so centralization is not so bad anymore, just so that there is a compromise between the two sides and, most importantly, a choice.

Exactly, Since the world we are living is made by centralized government, We don't have a choice but to compromised something in exchange for a better safe service like Exchanges. When I start crypto, There are tons of shitty unregulated exchange exist like Ccex and yobit. We have no choice on trading there since there's no decent exchange that time because there's no regulation monitoring them so they are free to do what they want like exit scam without a trace.

Good thing about centralization was exchange are force to comply with the law and user has the protection already that exchange will not gonna disappear suddenly because they are binded by the law.

kentrolla

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People will not be content with anything, we have already diverted from definition of crypto and P2P thing it demonstrates and I would be wrong if I say we still prefer Dex, as we have migrated to CeX long time ago due to better UI and volume compared to Dex. Fraudulent activities or cheating can happen in both CeX and Dex, there are certain demerits in both Dex and CeX, had it not been for emergence of CeX we would have never had such huge number of users trading into crypto market everyday, if it's not for CeX we cannot even buy crypto in most of the countries.

Soon more people will be switching to CeX and USDT will remain as most preferred stablecoins until it's paired with all the coins as it makes trading easier in multiple ways. I have moved on from Dex long ago hence cannot comment much about current situation with Dex and some of the so called decentralised stablecoins.

Anonylz

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Perhaps if usdt was decentralized it will be more open to the public and most major decisions will be collectively made (that is in a truly decentralized setting) in reality, how many decentralized projects practice this,
The @op is not entirely wrong in his argument, we have seen many so-called decentralized projects that end up being shady, whether decentralized or centralized does not stop scam projects from carrying out their ill intention, we see many decentralized finance (defi) projects turning into a complete scam. Because they are decentralized didn't stop them from committing the crime.

JayTrain

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it seems to me that everyone has already forgotten about decentralization, at first it was relevant, now everyone is trying to regulate and control, so centralization is not so bad anymore, just so that there is a compromise between the two sides and, most importantly, a choice.

Teraboy

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Quote from: SafuBTC on February 13, 2022, 08:17:07 AM

centralisation won't fix much either but with centralisation going deep into investigation is possible, facing the law is possible, oh regulation is 100% effective on centralised projects too.

All of gateway for the fresh money to go to the crypto were coming from the centralized entity called centralized exchange site. These centralized exchange site is letting the new money to go in the crypto market. Regulation is anything these days. Even when you wanna create bitcoin ETF and you must comply with regulation. This is something that can't be avoided. Im sure that none can avoid the regulation coz it's absolute. Even those criminals are need to cash out their money and they will use centralized entity do to that as well.

Quote from: 7deadlyBTCIN on February 14, 2022, 05:13:18 AM

Not all solutions are perfect 100% they comes with advantages and disadvantages, decentralized and centralized are needy in crypto space for prosperous crypto future it's not something to debate on honestly, which one works is all for good I don't care much because I'm here to make some money.

Agreed. I don't care so much about that when people are still discussing about this and i have made some money from the market.

7deadlyBTCIN

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Not all solutions are perfect 100% they comes with advantages and disadvantages, decentralized and centralized are needy in crypto space for prosperous crypto future it's not something to debate on honestly, which one works is all for good I don't care much because I'm here to make some money.

Fivestar4everMVP

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Quote from: SafuBTC on February 13, 2022, 08:17:07 AM

USDT had a shady past and this came to the masses because they are centralized, what if usdt was a decentralized stable coin in the beginning will we ever know their shady secret? My point is its easier to hide behind decentralization and still commit crimes, all in the name of anonymity and decentralization crimes will be easy in crypto space, centralisation won't fix much either but with centralisation going deep into investigation is possible, facing the law is possible, oh regulation is 100% effective on centralised projects too.

First, think of it this way, if they were completely decentralized, then they would have have no crime to commit in the first place, and because there is no crime to commit, there would have been no shady secret.
Understand that decentralization means decentralization, there is no thing as partiality in it, if a company claims they are decentralized and still have control over one ot two important affairs of the company, then they are not decentralized, take bitcoin as an example, Satoshi Nakamoto invented bitcoin(blockchain) which gave birth to cryptocurrencies in general today, and yet, Satoshi has no control over any affairs concerning bitcoin, not even its network maintenance, that's true decentralization.
Many crypto companies Today know this but will still lie to their investors claiming they are decentralized meanwhile they are not.

If tether as a company was completely decentralized like I've said before, there wouldn't have been any means for them to commit the crimes they are being accused of, because they would not have had any access or control over usdt.

KaliLinux

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Quote from: SafuBTC on February 13, 2022, 08:17:07 AM

USDT had a shady past and this came to the masses because they are centralized, what if usdt was a decentralized stable coin in the beginning will we ever know their shady secret? My point is its easier to hide behind decentralization and still commit crimes, all in the name of anonymity and decentralization crimes will be easy in crypto space, centralisation won't fix much either but with centralisation going deep into investigation is possible, facing the law is possible, oh regulation is 100% effective on centralised projects too.

It is what it is and this is what you get for entering the space. People complain about the centralized Banking system and now are also complaining about Decentralised crypto space Grin

Investors want to have it all and forget that there is always a price to pay.

gurunanakji777

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When we choose this market to make money we should not be worried about Centralization and Decentralization even I never thought about this while selling or holding the coins and both have diff-diff advantages and disadvantages. In the past, I read several times here on this forum USDT is shady but I have never faced any problems so far and USDT is quite reliable to hold as a stable currency. In my opinion, regulation is good for the market so that bad players will away from this market. If the stable coin is not backed up the value will never be stable.

bitkanu

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Quote from: SafuBTC on February 13, 2022, 08:17:07 AM

USDT had a shady past and this came to the masses because they are centralized, what if usdt was a decentralized stable coin in the beginning will we ever know their shady secret?

The thing is tether was only putting function that makes the company able to control the token. This is also saving hundreds of millions USD from the hacked case so what's wrong with this? I don't know why people keep calling this as a shady thing while these people can't save those funds when that gone to the hacker's wallet.

Quote from: SafuBTC on February 13, 2022, 08:17:07 AM

My point is its easier to hide behind decentralization and still commit crimes,

That's why regulators want crypto to be regulated especially cex.

Quote from: SafuBTC on February 13, 2022, 08:17:07 AM

all in the name of anonymity and decentralization crimes will be easy in crypto space, centralisation won't fix much either but with centralisation going deep into investigation is possible, facing the law is possible, oh regulation is 100% effective on centralised projects too.

Both centralization and decentralization have pros and cons. Decetralization was not also 100% effective.

BlackHatCoiner

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Farewell, Leo

You can't have a decentralized stable coin. The money supply has to somehow be adjusted so that 1 unit is equal with another. For instance, if Tether sees demand dropping, it may choose to burn some. But, even if you could, the fact that your units equalize with a centralized currency (which is the USD) it means that yours is too.

If one entity (or entities) decide the monetary policy of the currency your “decentralized” stable coin is pegged to, then it's indirectly affected which makes it prune to a central point of failure.

SafuBTC

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USDT had a shady past and this came to the masses because they are centralized, what if usdt was a decentralized stable coin in the beginning will we ever know their shady secret? My point is its easier to hide behind decentralization and still commit crimes, all in the name of anonymity and decentralization crimes will be easy in crypto space, centralisation won't fix much either but with centralisation going deep into investigation is possible, facing the law is possible, oh regulation is 100% effective on centralised projects too.

Topic: Not blaming centralisation or decentralization, this is just a thought (Read 153 times)