Post
Topic
Board Bitcoin Discussion
Re: Centralised Exchanges are the Biggest Enemies of Bitcoin
by
kryptqnick
on 06/03/2022, 19:04:14 UTC
The ideology behind crypto is freedom and liberty from the current government system(s) that are inherently wrong and elitist.

HOWEVER

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.

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.

This is horrible. This is not what bitcoin is. This is not freedom. This is not liberty.

Taxes contribute to the regimes that so many of us are against. How can we continue using companies whose values don't align with ours?

Taxes are theft and fund wars and needless bloodshed in countries such as Iraq, Afghanistan and more.

The solution is pretty clear: More projects need to be released that are focused on building sustainable decentralised solutions to enable users to trade and purchase bitcoin (and crypto in general). Right now the main areas of focus need to be security and simple UI/UX interfaces.

And we need to stop using CEX and funding what we are all against.
I think the best conditions is when people can choose what to use. If someone wants a custodial wallet, being aware of the 'not your keys, not our coins' rule but trusting the company more than oneself, it's fine. If someone wants to use centralized reputable exchanges like Binance, feeling sure that everything will be done well there, and even if a hack happens, the company would compensate its users, it's also okay. And it's possible to use non-custodial wallets and decentralized exchanges. I think that the freedom is the freedom to choose. And right now, when Binance is acting in a bank-like manner and imposing state sanctions on Russia, I appreciate it. It's important to have centralized institutions after all, to punish those putting others to harm, serious harm. As for taxes, op, they're also used for free education and medicine (for many in my country), roads and cheap public transport, etc. So I support the idea of more decentralized initiatives and alternatives, but I think that it's fine that centralized ones exist as well.