Question.
This is regarding the decentralization in blockchains.
How does DEX, IDOs and Swap sites build trust among the community?
As in how can we be sure if the people behind the project are genuine?
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I don't think you can. It builds over time and one or two bad actions can destroy your reputation amongst your customers.
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You cant. That is why you have to trust the protocol and do your research.
It is also why it is good to see Cubfinance starting to be successful. This is one where the community can trust the team.
The longer that goes on, the bigger the reputation gets.
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Cryptocurrency and related projects are still the wild west but people earn their reputation through their actions. @leofinance has proven a number of times that they are a legitimate project.
Each person must make their own call for now.
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For people familiar with Batman (especially between 1990 and 2012), Alfred Pennyworth is butler to Bruce Wayne. Alfred is one of the few people to know that Bruce Wayne is Batman.
As a crime fighter, Batman gets beat bad even when he wins his fights. He needs medical care constantly, yet it's not a good idea for him to visit local or regional hospitals. Where does Batman get his medical care?
From Alfred, his butler.
Alfred may not be certified to practice medicine, but he knows enough about the healing arts to keep Batman in commission and Bruce Wayne in the public spotlight so that he doesn't raise suspicion about his whereabouts.
Alfred's reputation as a competent healer matters enough to Bruce Wayne that he trusts Alfred with his identity as Batman. Sometimes reputation is more important than certification.
(It also helps that in recent decades Alfred's backstory evolved to reveal that before serving the Wayne Family he had been a combat medic with the British S.A.S.)
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I do not like Batman. He beats up dolphins. I am a @hive and @leofinance dolphin. Batman can kiss my dolphin arse!
Oopsy. After looking closer he is beating up a shark and not a dolphin. My bad. I still do not like Batman. I am more of a Spiderman kind of guy! 🐬
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It's easier for me to become like Batman than to become like Superman. I can't get go faster than a speeding locomotive or use x-ray vison, but I can learn relevant skills and-- in theory-- become wealthy. That's why I grew up wanting to be Batman.
As for Spider-Man, excellent choice. I'm more likely to get bit by some creature or catch some rays.
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Lol, I love your logic
In that sense, I guess I identify more with Iron Man because he is also a normal guy with a lot of money and he is also a big nerd like me
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Bruce Wayne and Tony Stark are both wealthy. If they were real people, they would be into cryptocurrency. Given what each has done in their comics universes, I would classify them as BUIDLers. When I find a few more BUIDLers I'll write about them.
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I could be wrong because I don't know the technical aspect of things but my guess is we really can't be 100% sure all the time.
That's why I believe reputation is important in this scenario and that's also why I don't drift too far from Hive blockchain. We all know the guys that are building things here so I find it a lot easier to trust them than some "outsider".
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There are also certificates issued by companies like Certik that provide an additional layer of trust, but in my opinion, it all comes down to reputation.
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When more people complain about a crypto, blockchain, or exchange than praise it is when we know it's a stinker to be avoided. As @tfranzini noted, it boils down to reputation.
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