Quote from: GreatArkansas on February 26, 2021, 09:13:29 AM

Quote from: amishmanish on February 26, 2021, 05:57:00 AM

I don't think it really matters to people any more. Especially to the new bunch of enthusiasts and money makers from developing countries like Indonesia, Turkey, Eastern Europe. Most want low trading fees for instant and complicated transactions. Centralized solutions are fulfilling the need of the market.
(....)

It will not matter in the early stage, but if it will stay forever and in the long term, it's like a ticking bomb.
The beauty of cryptocurrency is decentralized and why it is being ignored?
Ethereum Layer 2 is the solution, other alternatives especially Binance Smart Chain will get hammered by Ethereum soon and others claiming Ethereum Killer, just a matter of time.
No hater of layer 1 protocols or other Ethereum alternative here, I can say they can somehow help the Ethereum network's scalability temporarily.

Exactly. Without a truly decentralizes network, the whole meaning of having a financial system without a central authority goes up in the air. This is especially true with the BSC. It is basically a private blockchain which benefits one person, Changpeng Zhao. The fees being paid in case of ETH goes to the miners. In case of BSC, they are going directly to Binance.

If you consider that, you will see that the fees on BSC aren't really that low. CZ has just exploited it like the clever opportunistic Chinese businesses everywhere. They give you a cheap alternative at supposedly low prices but it is never beneficial in the long run. It is up to the community to decide. I was not sure about ETH's PoS but now with these antics from Binance, I wish that ETH finds solution to its scaling woes through PoS so that the truly good stuff built on ETH doesn't get copied to BSC in the typical brain-dead, Chinese copy manner.