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A comment on Temporary pause of Bitcoin withdrawals on Binance. Parent comment

Re:Temporary pause of Bitcoin withdrawals on Binance by sgt101 on Monday June 13, 2022 @09:51AM (#31725575)
I think it's because bitcoin trading can't actually use the network - it's too slow and expensive.

So the exchanges and the stable coins are used as a proxy which then means that they are disconnected from the actual currency. This means that there is an amplifier (leverage) on the way up, leading to spectacular bull runs.

Also...

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Re:Temporary pause of Bitcoin withdrawals on Binance by FabHK on Monday June 13, 2022 @11:49AM (#31727214)
> bitcoin trading can't actually use the network

Crypto trading on exchanges never uses the network. You send your crypto to an exchange on-chain, and all trading happening on the exchange then is off-chain: just adjustment of a few positions in the exchange's databank (as it should be: quick and efficient, within a centralised trusted institution).

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Re:Temporary pause of Bitcoin withdrawals on Binance by misslibby on Monday June 13, 2022 @11:58AM (#31727331)
Decentralized exchanges exist, but they can't trade with fiat money. One of the reasons why stablecoins exist.
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