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A comment on Top stablecoins shed $7B in May as traders redeem tokens en masse. Parent comment

Re:Top stablecoins shed $7B in May as traders redeem tokens ... by Nursie on Sunday May 22, 2022 @03:21AM (#31465737)
What’s truly decentralised? Miners are increasingly centralised and can effectively block/ignore transactions if they like. They may conceivably end up compelled to blacklist certain wallets, as some exchanges already do.

And that’s before we get to stuff like Luna, where the decentralised authorities took the centralised action of halting the chain entirely

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Re:Top stablecoins shed $7B in May as traders redeem tokens ... by eudoxus on Sunday May 22, 2022 @07:27AM (#31466984)
I'm curious what makes this a centralized action? Many independent (decentralized?) entities debated and used social consensus to come to the decision to halt the chain to isolate further potential damage.

Like them or hate them, I'm intrigued where the centralized line in the sand was crossed

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Re:Top stablecoins shed $7B in May as traders redeem tokens ... by Nursie on Sunday May 22, 2022 @09:27PM (#31474476)
A relatively small group of powerful people shut the chain down. This was not a consensus action amongst token holders, network users or any other group, their consent was not required. Power is held by this group of (130?) people, it seems pretty centralised to me, basically an oligarchy.
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