Quote from: Z-tight on March 21, 2024, 01:31:15 PM

Quote from: Ayers on March 21, 2024, 12:23:42 PM

So why do centralized exchanges exist today, and by the way, are you using them? It is true that using centralized services to store bitcoins is not a good idea because we have abandoned banks for bitcoin also because we do not like centralization. But centralized exchanges and services still have a large number of customers using their services.

Centralized exchanges are there for you to trade your coins and not to store it, it is easy to understand this. After trading on centralized exchanges, the funds should be moved into your self custodial wallet, i know that there are a lot of people who still store their funds in exchanges, but they are doing it wrong and that is why they make up the victims of ftx, celsius, Genesis, 3AC, mt. Gox, etc, who are still waiting to recieve some portion of their money back. If people do not want to be a part of these victims, they should use self custodial wallets to store coins.

I understand what you're saying, but you also acknowledge that even though storing assets on centralized exchanges is risky, many people are still doing it. And what I'm trying to say is that just because we don't like centralized services and we're trying to protest the OP from implementing his idea isn't right. Some people still need centralized services, which means the OP should still try implementing his plan. Don't stop him just because we don't like his ideas, and OP shouldn't give up on his dreams just because of people's opinions.

In the past, cryptocurrencies were not recognized and regulated by the government, so there were quite a few scams happening, but things are gradually changing and bitcoin ETFs is the start of it all. I know this will gradually take away the decentralized nature of the cryptocurrency market but it is inevitable and once there is government regulation, scams will also decrease. Things are changing and we should adapt and not use historical data to judge the future.