I'm currently writing a paper on the impact and power CEXs have in the Bitcoin ecosystem. Isn't it a bit contradictory that almost 99% of crypto transactions pass through centralized exchanges? Further, most people leave the custody to their exchanges. CEXs can freeze accounts… Isn't it basically a copy of the traditional financial system? Let me know your thoughts on this.
Centralized exchanges in Bitcoin / Cryptoecosystem
byu/No_Growth1420 inBitcoinBeginners
Posted by No_Growth1420
2 Comments
The irony is pretty wild when you think about it – we created this whole decentralized system just to funnel everything back through these massive chokepoints that can shut you down whenever they want
I don’t think it was anticipated that the governments would control the on and off ramps.