Post
Topic
Board Bitcoin Discussion
Re: Centralised Exchanges are the Biggest Enemies of Bitcoin
by
suzanne5223
on 06/03/2022, 16:05:15 UTC
The ideology behind crypto is freedom and liberty from the current government system(s) that are inherently wrong and elitist.
Yes, but there's nothing in this world that can be forever free or give liberty especially when the institutional investor joins the ecosystem and I think we should be ready for what may happen in the future either cause the institutional investor are buying Bitcoin more than we could imagine.

Centralised exchanges such as Coinbase, Kraken and Binance take a noble idea of bringing Bitcoin to the masses and mock it by affiliating with governments (and governmental agencies) that the very concept of Bitcoin is designed to rebel against.
Coinbase is the worse among the listed exchange because they have proved to be the worse exchange by following the SEC regulation before every other exchange site implement it.

Big CEXs are killing the original bitcoin spirit by forcing users to pay tax on gains, freezing user's assets, preventing users from using their service depending on their IP and more.
In this situation, the best thing to do is ignore the exchange site that has regulation policies, and use the alternatives. However, I don't blame the big CEX because they are CEX, not DEX, and the last time I check the Bitcoin Foundation and community are to blame for this because Theymos once raised the issue of Elizabeth T which says "The Bitcoin Foundation needs to be prepared and ready to expand in areas of key importance should matter arise such as increased government regulation and a crackdown on Bitcoin related businesses and users.  While increased government regulation is still a potentiality and not necessarily a reality yet, the foundation still needs to work to find a balance between proactivity and preparation for what lies ahead as the currency still grows in prominence.  The Foundation again should work to develop tools and guidance for the Bitcoin community to have on hand should lobbying efforts to need to be carried out in the future. "
But not tangle thing was done


This is horrible. This is not what bitcoin is. This is not freedom. This is not liberty.
The worse is yet to come mate after the institution has understood the benefit of Bitcoin and dominating the market.