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this post was submitted on 22 Jul 2023
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Asklemmy
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People have actually used crypto to make payments. Crypto is valuable, but only when it's widely adopted. Before you say something like "use a database," you might take the time to understand what decentralized blockchains are accomplishing and namely removing a class of corruption from any information coordination tasks.
Why bother with the overhead of blockchain when users centralise on a handful of ~~banks~~ exchanges.
Exchanges only exist to convert away from the crypto. If that's the standard money, they don't live. They aren't the banks of the blockchain. They are the intersection of fiat banks and the blockchain.
Strongly disagree, some exchanges don’t even have fiat on-ramps.
Blockchain is inefficient and pointless when users centralise on coinbase and binance.