GM crypto fam. Happy December!
I've seen that several exchanges are trying to increase client transparency after the FTX crash by disclosing their Proof of Reserves. Since there is no way to determine whether the exchange is not using client funds to cover hidden debt or anything, I personally don't buy any of this.
Since I'm genuinely unsure of whether I'm missing something, I figured I might get some helpful insights from more experienced people here.
Is PoR actually enough after all that has happened so far?
For people like myself and many others nothing they do is ever going to be enough, I have never trusted exchanges and the many problems I have witnessed over the years have convinced me that I have always been right about them, and I am sure many people now think the same way I do, however there are many other people which will let themselves be convinced once again to deposit their money long term with them, and eventually some of them will lose their coins once an exchange go through a similar experience againI've seen that several exchanges are trying to increase client transparency after the FTX crash by disclosing their Proof of Reserves. Since there is no way to determine whether the exchange is not using client funds to cover hidden debt or anything, I personally don't buy any of this.
Since I'm genuinely unsure of whether I'm missing something, I figured I might get some helpful insights from more experienced people here.
Is PoR actually enough after all that has happened so far?