Eluc on Nostr: I have always been scared by any companies getting too big in Bitcoin and ...
I have always been scared by any companies getting too big in Bitcoin and cryptocurrency in general. When MtGox, Celcius, FTX and many other failed, you would never know how close others like Coinbase, Binance, Tether... were to a similar catastrophic event.
Too big to fail is never a garantee, it's a risk for everyone. I'm from Switzerland and our 2 biggest banks, UBS and Credit Suisse, both failed in the last 2 decades.
The only risk mitigstion is decentralisation, at every levels. We should not let big company get too big and have any monopoly regarding Bitcoin, cryptocurrency and even finance in general. Well regarding every aspect of our life in fact.
Bitcoin is the only ultimate solution we have available today, eventually "stablecoin" will get obsolete as fiat will get obsolete, as Odell already mentioned.
But that is not enough to win. We must as well keep the power distributed, let hundreds, thousands of companies compete in the space for one product, one service, one region. We should embrasse this diversity to let everyone benefit and share a part of this new global, permissionless, economy.
Too big to fail is never a garantee, it's a risk for everyone. I'm from Switzerland and our 2 biggest banks, UBS and Credit Suisse, both failed in the last 2 decades.
The only risk mitigstion is decentralisation, at every levels. We should not let big company get too big and have any monopoly regarding Bitcoin, cryptocurrency and even finance in general. Well regarding every aspect of our life in fact.
Bitcoin is the only ultimate solution we have available today, eventually "stablecoin" will get obsolete as fiat will get obsolete, as Odell already mentioned.
But that is not enough to win. We must as well keep the power distributed, let hundreds, thousands of companies compete in the space for one product, one service, one region. We should embrasse this diversity to let everyone benefit and share a part of this new global, permissionless, economy.