Quote from: Fivestar4everMVP on November 22, 2022, 08:29:23 PM

If you are making this post in reference on what happened recently with FTX, First, I would want you to know that FTX was not hacked, rather the CEO mismanaged funds belonging to the investors and traders, the hack came much later after the exchange was already collapsing.

Now back to the general part of this discussion, the truth of the matter is that every centralized exchange out there is 100 percent safe(atleast, this is what they tell us) until they are hack or jam a rock, same way a criminal is a good citizen until he or she is caught red handed stealing.
Centralization is the same system the government uses, and it has never really favoured the ordinary citizens, centralization was not what Satoshi designed or desired for bitcoin or cryptocurrencies, but his absence in the space gave room for alot of changes and deviations from the plans he laid down on how get bitcoin and cryptocurrencies to mass adoption, the emergence of altcoins bright about the centralization in cryptocurrencies we experience today.

But then, it is good that everyone in the space is beginning to see the flaws in this system, and are beginning to realize that decentralization is the way, but another bothering question is How prepaid we are for decentralization?.

Only after centralization has experienced a catastrophe will people start to think and start to wake up. Centralization is only a transitional period now, and finally moving towards decentralization is the other side. There are still many twists and turns in the middle.At least one more centralization catastrophe is needed to make the process of decentralization more firm.