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A comment on Ftx.com Has Probably Collapsed. Parent comment

Re:Ftx.com Has Probably Collapsed by piva00 on Thursday November 10, 2022 @06:27AM (#33544979)
The shady thing in the whole cryptocurrency scheme is the lack of total transparency, aka: lack of regulations.

Without regulations there's absolutely no incentive for them to be transparent, there are tons of perverse incentives to hide and cook the books though.

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Re:Ftx.com Has Probably Collapsed by TimJRobinson on Thursday November 10, 2022 @09:35PM (#33556675)
DeFi products like Uniswap, Balancer, GMX are all 100% open source and transparent. They can't lock customer funds or collapse because the funds are held by code, not humans who can secretly gamble it away.

It's frustrating that centralized opaque companies keep failing and yet people keep trusting them or lumping DeFi into the same bucket when they are night and day different. Decentralized Finance is the point of Crypto.

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Re:Ftx.com Has Probably Collapsed by piva00 on Thursday November 10, 2022 @11:54PM (#33557435)
DeFi, where buggy code is the law and there's no reversing transactions in case of it.

No, thanks...

[ Parent | on HN ]