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/biz/ - Business & Finance

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27582925 No.27582925 [Reply] [Original]

>DeFi (decentralised finance)
>It's just a centralised shittoken owned by a central authority dependent entirely on a chain hosted on AWS with a premine
The absolute state of crypto

>> No.27582956

>>27582925
Name 1 (ONE) example.

>> No.27582992

>>27582956
Every ERC20 token/smart contract on any network.

>> No.27583028

>>27582925
>>27582992
thanks just sold everything

>> No.27583038

>>27582992
Did you mean to say none instead of every?

>> No.27583066

>>27583038
No, every single one of them is centralised.

>> No.27583117

>>27582925
>>27582992
>>27583028
based thread

>> No.27583130

why do smoothbrains have this pathological need to make condescending and false generalizations? is there something particular about the dunning-kruger 110iq range that makes people prone to break down in anger when faced with complexity, and forces them to simplify things?

>> No.27583271

>>27583130
For people with no techincal understanding of crypto, its nearly impossible to wrap your head around it. In their eyes its just unlimited useless tokens hosted on AWS, but in the low IQ and high IQ minds, its a money making machine and the next step in technological development

>> No.27583360

crypto fags, tether bois have to be the most retarded.
Just a big elaborate pump dump ponzi scheme.

>> No.27583588

>>27582925
DeFi signals the end of the horse-and-cart financial era

>> No.27583661
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27583661

>>27582925
>dependent entirely on a chain hosted on AWS
lmao proven for being tech illiterate and regurgitating stuff you read on biz once

>> No.27583989

>>27583130
>>27583661
eth was an ico coin prior to PoW launch, newfags, and a significantly large portion of the nodes are hosted on AWS, that's not decentralised at all

>> No.27584055
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27584055

>> No.27584102

>>27582992
.... based?

>> No.27584148

>>27584055
>chainlink
another example of a centralised shitcoin, heavy as fuck premine; if your coin has a fucking ceo, it's not decentralised

>> No.27584188

if the endgame for defi is second layers, then those layers will always eventually end up settling on bitcoin. ethereum is fucked if it pawns off its only differentiating feature to a layer above it

>> No.27584210

>>27583989
>and a significantly large portion of the nodes are hosted on AWS, that's not decentralised at all
lmao that's just because it's easy and cheap, I'm running several nodes on my own server and nobody is forcing you to do so
this has nothing to do with so called centralization

>> No.27584216

gas is $100

>> No.27584453
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27584453

>>27584210
>this has nothing to do with so called centralization
are you fucking retarded? that's a single massive weakpoint in the network, you're relying on a centralised party to not fuck up or perform any hostile interactions while owning 50%+ of the nodes, you don't own them, aws does, it's the very definition of a 51% weakpoint

real decentralisation would be those nodes spread across user machines and not grouped up and hosted on one company's server farm, that is/was the entire point of proof of work algos: distribute the network across users

>> No.27584661

>>27584453
>are you fucking retarded?
You are, you dumb nigger.
>you're relying on a centralised party to not fuck up or perform any hostile interactions while
>you don't own them, aws does
Do you even understand how AWS works you nonce?

>> No.27584835

>>27584661
>host all of your nodes in one place
>literally known as a weakness for a 51% attack, single failure point in the network in the event anything goes wrong (unexpected server downtime, sudden change in attitude from those supplying the servers, fuck, even hacks are a possibility)
>coin also had a premine and ico
>"NO IT'S FINE, IT'S NOT CENTRALISED, IT'S FINE, IT'S YOU THAT IS WRONG!"
you're clearly a braindead newfag or zoomer

>> No.27585116

>>27584835
You're so tech illiterate it's not even funny.
>host all of your nodes in one
False and implying that some central org is hosting ALL nodes somewhere is straight up retarded.
>literally known as a weakness for a 51% attack
It's literally not.
>single failure point in the network in the event anything goes wrong
You could just host it somewhere else you retard.
>coin also had a premine and ico
Yes nobody is denying that.

Amazing how you fail to understand that decentralization also means that you can't force any node operator to NOT use a certain hosting provider / architecture.

>> No.27585521
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27585521

a bunch of retards hosting a "decentralised" network's nodes for the most part in one location constitutes to the risk of 51% attack (again for the same reasons mentioned before) and means that you're relying on said one location to not fail or become malicious, you FUCKING STUPID NIGGER
>"JUST MOVE THE NODES IF THAT HAPPENS XDDDD"
they will control them, because those servers are not yours, you FUCKING STUPID NIGGER

this is no different to one cloud mining service holding 51%+ of the bitcoin hashrate that the users rent, it was an issue even then: https://www.coindesk.com/bitcoin-miners-ditch-ghash-io-pool-51-attack

how are you newfags this fucking delusional? crypto is fucked with people like you