Re: After FTX collapse, some call for a return to decentralized roots
There are tens of millions of such people. Understand that 90% of people are very stupid and they are just too lazy to create a wallet and store funds on the wallet, it is easier for them to store everything on the exchange. This is also the fear of responsibility. Many people just want to shift the responsibility to the exchanges, and in case they lose their funds, they will have someone to blame it on.
That's certainly true, mate. People don't want to take full responsibility (self-custody) of their hard-earned crypto funds. This is the reason why centralization is plaguing the industry. Without true believers of decentralization, our hopes of "beating banks" would be nothing but lost. There's nothing we can do about it, especially when Wall Street is already in the game.
One thing for sure is that FTX's collapse is nothing but a short setback for CEXs. These entities will only they get bigger and stronger over time. After all, they're the only way in which governments are able to efficiently collect taxes from you. Not only that, but CEXs give the government a "full scope" of where the crypto is flowing. Decentralized alternatives will be left behind in the dust, as people continue to put their trust in "the middleman". Who knows if DEXs ultimately get "outlawed" by the government? Just my thoughts
