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/biz/ - Business & Finance

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22265065 No.22265065[DELETED]  [Reply] [Original]

What's the problem with a coin actually being centralized?

>> No.22265176

>>22265065

It defeats the purpose. If we want centralized money we got... Well, money.

>> No.22265196
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22265196

>>22265065
how does the cat do that? wtf?

>> No.22265217

>>22265065
well as we see with bitcoin, if a coin is centralised it is controlled, its price can be manipulated by companies such as CME.... and yes.... this means bitcoin is centralised and controlled lol it isnt decentralised at all no matter what anyone claims haha

>> No.22265348

>>22265065
Consider national currencies that have a central bank, that can set interest rates and increase the amount (or decrease) of physical currency in the market. So, it's controlled. In more highly developed countries, this might seem like less of an issue. But, poorer countries with shittier economies can just have their central banks do whatever the fuck they want. By extension, governments can just prohibit you from withdrawing or carrying out transactions. Decentralised money solves this problem.

>> No.22265498

>>22265065
>What's the problem with a coin actually being centralized?
WHY THE HELL PEOPLE AFE SO FUCKING RETARD LIKE OP?
>why putting money into a mintable erc20 shittoken is a problem?
Cause the contract owner can mint the entire supply, hyperinflating it, and market dump until it has zero value, exit scamming with a few millions
>b-but muh WBTC can be used for staking on some defi scam
these can literally run away with your BTC and you are stuck with a worthless erc20 token
Jesus fucking Christ

>> No.22266304

>>22265065
unironically, this board will have no positiv effect on you. go somewhere else or you will lose everything. only a certain type of people can profit from /biz