Re:$600M taken in largest DeFi hack to date
by PretzelPirate on Tuesday August 10, 2021 @02:30PM
(#28132432)
Decentralization doesn’t mean everything is decentralized, it’s a range of decentralization from fully decentralized to fully centralized. You can use DeFi without ever touching centrally-controlled assets like USDC or Tether. The key thing is that you get that choice.
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Re:$600M taken in largest DeFi hack to date
by m3kw9 on Tuesday August 10, 2021 @02:41PM
(#28132554)
All I’m seeing is “decentralized” figures making some very centralized moves when they see fit.
Re:$600M taken in largest DeFi hack to date
by zionic on Tuesday August 10, 2021 @04:28PM
(#28133968)
Tether is famously centralized, you’re attacking a straw man.
Re:$600M taken in largest DeFi hack to date
by valzam on Tuesday August 10, 2021 @10:43PM
(#28137333)
And I think you arefalling for the "true scotsman" fallacy. Tether backs 70%+ of daily BTC trading volumne, saying criticism against Tether is invalid because Tether isn't real crypto is a cop-out given how important it is in the ecosystem.
Re:$600M taken in largest DeFi hack to date
by miracle2k on Wednesday August 11, 2021 @05:19AM
(#28139811)
They are not saying criticism against Tether is invalid, merely that you cannot criticize Tether and call it a "DeFi" critique.
At the end of the day, centralized assets on Ethereum are as legitimate as decentralized ones. The whole point of Ethereum is that it permissionless. If we celebrate Iranians or 16 year olds being able to build on top of it then certainly Goldman Sachs may do so as well.