Post
Topic
Board Bitcoin Discussion
Re: The biggest Crime in cryptocurrency
by
Haunebu
on 19/04/2019, 11:25:22 UTC
The biggest crime in Crypto currencies are the fact that private centralized institutions hijacked the whole experiment and then caused all these problems. Satoshi did not want people to do P2P transactions via 3rd part centralized services, he wanted people to trade 1 on 1.

These centralized services used exploitable code and hackers and thieves quickly realized this and they targeted these vulnerabilities. So Bitcoin was not responsible for these hacks, but rather 3rd party services with weak software.  Angry
This is why I usually prefer completing my trades through P2P or OTC solutions when compared to transacting on exchanges. LocalBitcoins is my favorite solution in this aspect and it remains my preferred platform when compared to Binance, Bittrex etc.

Centralization of crypto and the entire KYC process are the biggest crimes in the crypto world.