Now what's connected to BlockFi that's going to crash next. It's crazy how reliant everyone of these platforms was on each other. Major issues with that.
How does it cascade so precisely one after the other as if it was engineered with a definite timeline? Is it all planned disorder or it's failing organically?
Users deposit coins on A. A figures they don't need to keep full reserves and can make more profit if they use some of those funds so A lends coins to B. B now owes A. B does the same and lends to C. C now owes B.
Market goes south and C can't pay B. B then can't pay A. So it collapses in reverse.
Then the best way is to not trust A and we have an option, the keys offered by crypto is decentralized from the get-go. We make mistakes of convenience sometimes by saying its fee is higher, sometimes in the name of liquidity and what not. If even after having absolute control the users are having to trust A, then they themselves are falliable.
Now what's connected to BlockFi that's going to crash next. It's crazy how reliant everyone of these platforms was on each other. Major issues with that.
It's almost like crypto was invented to get away from centralized systems...
RIP to your credit cards
How does it cascade so precisely one after the other as if it was engineered with a definite timeline? Is it all planned disorder or it's failing organically?
Users deposit coins on A. A figures they don't need to keep full reserves and can make more profit if they use some of those funds so A lends coins to B. B now owes A. B does the same and lends to C. C now owes B.
Market goes south and C can't pay B. B then can't pay A. So it collapses in reverse.
Posted Using LeoFinance Beta
Then the best way is to not trust A and we have an option, the keys offered by crypto is decentralized from the get-go. We make mistakes of convenience sometimes by saying its fee is higher, sometimes in the name of liquidity and what not. If even after having absolute control the users are having to trust A, then they themselves are falliable.
Definitely
Posted Using LeoFinance Beta
let em go to hell :))
Not your keys not your crypto.