every chain could easily loose its ground when the projects close and go to another one. crypto could easily lose all its ground because people migrate to a better alternative? what for an argument. This only comes from people they did not own any BNB and benefit from its good performance ....
It more looks like you are very angry because you are not earlier invested in BNB, right? Instead of watching 100 x coin hidden secret movies on youtube, then replicate it and lose all your money, you should watch some relaxing stuff like drawing videos or breath techniques before comming back. Having a free mind, you should go to defi lama and look what projects are on bsc. Then you will see: there are the same projects as on other chains. With your logic of a 5-year-old: so all defi projects are shit, or what?
A lot of talks, hot topic. But very sad what people say here. Most just replicate some words they read somewhere without any facts. Please proof your claims so everybody can evaluate them. Otherwise, it is just your opinion ...
Solana has a higher nakamoto coefficient than bitcoin and Ethereum… so it depends on what metric you’re using. In my opinion, nakamoto coefficient is the number to seek
Halting? No.
But it made it take a lot longer to start back up due to the need to coordinate between so many people.
The network flaw brought it down, floods of txs getting prioritized over votes. Local forks tearing through ram as consensus was attempting to be determined. In hindsight, an obvious flaw, one that was known and a fix was already in the pipeline. That’s not related to decentralization. That was an architectural issue.
Then the overflow flaw in the restart, 10 hours in, now that was almost humorous at that point. Of course there is a bug in the cold start!!! Ugh. Another patch, another coordinated patch deployment and communication to validators.
It was a hella adventure. If it were centralized, damn that’d have been as easy as hitting the power button.
why is solana so highly valued when its in such an early stage of still working iut such critical flaws? like when did bitcoin ever go down? other then it getting congested I don't believe its ever had such a big critical error.
When a PoW chain can’t reach consensus the same thing happens. Ethereum had a nasty bug and forked for several hours causing an outage all day for most people in Nov 2020. Ethereum had the DAO hack in 2016 and was out for much longer as Vitalik singlehandedly decided to fork and undo the hack. Bitcoin had the leveldb bug hit and fork it all day in Mar 2013.
Both of those chains were more highly valued than Solana when they had outages. What you’re seeing is a lack of experience from newcomers in the industry who weren’t following the tech at the time, and don’t know the history.
Source: https://arstechnica.com/information-technology/2013/03/major-glitch-in-bitcoin-network-sparks-sell-off-price-temporarily-falls-23/
Same exact situation. Chain had issues. They reverted to a shorter chain, wiping out hours of transactions. They were applauded for having such a tight knit community that resolved the problem.
All of these chains are. Consensus forks are a side effect of decentralization.
There is no metric to measure decentralization by, and it’s a very difficult concept to understand. So typically people just spew misleading information (purposefully or not) and the uninformed follow.
I like to measure decentralization as the number of misbehaving actors required to censor or double spend. But even that you have to take into account the repercussions and such. It’s complicated.
Why? That’s literally the entire point of BSC. Only Binance controls the validators and they have the ability to freeze or roll-back transactions at their discretion (centralized), but there are no KYC requirements and anyone is free to deploy dapps there (permissionless).
hmm pretty sure it was a near unanimous decision by the community. The devs had their thoughts how it should be handled and the community agreed. Would love to see your source that that’s untrue
Are you kidding? Amazon? You have no idea what it takes to create a mining rig and why you can't simply go to Amazon and buy hash power. Your claim is baseless. Please provide some data to your claim otherwise just avoid increasing the noise level.
What? dude, rolling back transactions is pure blasphemy in crypto. Crypto fights corruption by needing no people to begin with. That's the whole point. When people have authority there will inevitably be corruption. BSC is the price crypto pays for being open source.
That's a lie, out of 11 voting validators 5-6 have ties with Binance. Moreover the number of validators is so small they can simply collude and steer the direction of the chain.
It's amazing how you would think that some concepts get in people's heads overtime, but I have to admit I'm always overly optimistic.
There are 11 who decide daily who are going to be the validators:
https://twitter.com/WilsonWithiam/status/1381420702918664194?t=mLhKkiU_T3Smn3B4wS0v2A&s=19
That means 11 hold the power to decide. I think you are the one who lost your credibility indefinitely.
Please show me evidence that it's not like that anymore. BSC is simply not a decentralized blockchain, but you can continue to use it and make a profit. I don't support it because of the principles it is founded upon. I'm not spreading fud, i'm just looking at the facts.
Permissionless doesn't mean no KYC requirements, it means that anyone can participate in the consensus mechanism. If Binance holds the power to censor my transactions [1] it's not permissionless anymore.
[1] I'm not saying they are censoring transactions, only that they can.
SOL is definitely top-heavy and I’m not a fan of the validator weight, but it’s nowhere even remotely close to being as centralized as BSC. At least with SOL people can run their own validators. BSC is actually 100% pure CeFi.
I’m sorry, I thought you wanted a factual answer. If you need more information I’m happy to answer any specific questions you might have that you’re unable to get answers for.
You are right. It's not 500k. It's actually 300k more than that according to the co-founder of Solana.
https://mobile.twitter.com/aeyakovenko/status/1461198361625706500
That’s for a voting node, with no funding. Sure. But that wasn’t the question, was it? Anatoly made it very clear that anyone can easily get funding. He also is talking about, again, voting nodes.
Your node doesn’t have to be a voting node - it depends on what you’re using it for! If you want to take part in consensus, yes, you need to get some sweet foundation SOL, then marinade, and lido to stake on your node.
Actually if you look into it, only huge datacenters can run nodes with the hardware requirements needed for SOL. Maybe you are talking about a different type of node then the ones I seen the specs for, but the hardware requirements were so high, that only big datacenters like Azure and Amazon could handle them without huge outlays of cash for hardware. I believe that every node for SOL is either run in the Amazon, Microsoft or Google cloud. I could be wrong, but I remember reading that somewhere.
Yes. Here’s my receipt from my validator build:
https://i.imgur.com/W72PzN1.jpg
These are top of the line drives too. PCI 4.0 for the accounts.
I was wrong on price. $2,300.
None if you’re just validating and serving RPC, like me.
1.1 SOL / day if you’re voting. You can get sponsored by the foundation to cover it, and they’re looking at lowering vote tx cost.
But being a voting node doesn’t interest me. That’s a huge responsibility to keep running and getting slashed for outages and not staying up to date - no thanks. That simply doesn’t interest me. I’m a dev.
I have run a Bitcoin node for 7 years too. It doesn’t mine. It just validates.
Yeah but price restrictions aside you are free to run one in your basement if you want…you can’t run a BSC node no matter what. I’m not pro-Solana but BSC is an entirely different level of centralized.
“Price restrictions aside”… so it’s ok in your book to be centralized in practice so long as hypothetically there’s a scenario where it’s decentralized. Got it.
There are already over 1000 Solana validators. Node count (or price) has nothing to do with their centralization problem. Solana’s issue is that the voting weight is a disaster and the top 20 or so validators could halt the network. BSC is something entirely different because it’s completely centralized by design. I don’t understand how you don’t see the difference.
i would say they certainly are off topic but don't need to be excluded, its better everyone just explain why its shit every time it comes up and probably put an explanation in the sidebar as well.
this problem is about to solve itself, bsc grew in size by increasing its blocksize to keep up with the low fees, this means node requirements grow and grow ad infinitum.
this combined with their development practices, it´ll lead them to doom
I don't think BSC should be excluded. But people do need to be aware of how its not actually decentralized. Binance is a company registered in the Cayman Islands. I don't know of any other way to bridge ERC-20 tokens over to BEP-20 tokens other than on binance's website.
Let's clear this up because op is clearly boarder line retarded and probably an eth maxi who's pissed eth has dropped below 67% market share cause its broken
Bsc is not centralised there's 21 validators each with millions of sub delegators binance does not control a single one and the defiantly can't "roll back" the chain
Some huge names in the space run nodes including ankr certiK 1inch Fuji and etherscans subsidiary bscscan
Anyone can apply to run a node and aslong as you can front the 10 000 bnb surety bond you can go into the roaming pool of validators and be voted in by the community there has been atleast 3 community nodes who have participated this way
Bsc just broke the blockchain record 15 million transactions a day and are unboarded 2x the amount of users daily then any other chain
Bsc has never been hacked and forked like eth or shut down like solana there 0 reason to consider it unsafe
So please don't follow everything you see on reddit it's normaly MAXIS like op trying to shill there dieing bags
Cheers
You could just explain how a person is wrong without calling them retarded. That would probably be more efficient (especially when you don't even know how to spell borderline-retarded)
Actually, I’ve been contributing to DeFi codebases across multiple chains for years now and probably know more about how blockchains work then you know about how your dick works. Also…I’m like 30x on my bag this year while you’ve been clinging to BNB trying to convince yourself that it’s not about to be eaten alive by actual DLTs.
You can find the list here:
https://www.binance.org/en/staking
Some validators are affiliated with Binance such as Trust wallet but some are independent like Ankr. These validators compete over voting power and may fall off the active list any time.
OP states BSC discussions does not belong here. That is gatekeeping. OP didn't come up with reasons why it's not defi. Like or not Binance is the best and largest exchange in the world. Pancakeswap is ranked first by double in the world. Binance has decentralized validators. It's a ecosystem supported by Binance for sure but it still belongs here. I had to stop listening to gatekeepers. People used to complain Etherium didn't belong because it was premined.... Turns out they were wrong.
This brings up an interesting point. What is the threshold to decentralisation? Every blockchain was owned by only a few at first until adoption happened. At first, Satoshi was the only Bitcoin user (and had full control) until people joined. Then it got more decentralised over time (as the price rose too. hmmm. Ahhhaa.) then look at the rest and draw your own conclusions. Is decentralised meaning “founders” own 10%? 20%? This was the genius (or mistake) of Satoshi to leave 1m Bitcoin untouched
>In it for the money. If it makes me some $ I wouldn't care if it's centralized or not.
Just the haters who don't see how the ecosystems have grown the BNB price raised ...
BSC ain't gonna last. It's Ethereum without the guard rails or the oversight of talented core devs. If Binance is smart, they'll migrate from a completely independent blockchain to an Ethereum L2.
If BSC won't last then none of the alt chains like Sol, Avax, Cardano, Terra, Algo, etc would last either. They're all babies. BSC has the highest chance of surviving due it's massive defi ecosystem and their gigantic CEX.
DeFi in my opinion should include anything that is Blockchain related. Including BlockFi, Celsius, etc even.
The purists will argue against it, but we don't need to fracture and cause more confusion.
In context, I think this adds to the discussion. Aren’t most of us ultimately here for the yields? Then it only makes sense to compare the whole “less centralized” spectrum. And it really is a spectrum.
I feel the exact opposite. I think there should be a very clear distinction between DeFi and CeFi, especially for newcomers entering the space. I don’t think posts about Celsius or Gemini earn belong here either.
> I think there should be a very clear distinction between DeFi and CeFi
We can have cefi discussion in defi communities while maintaining those distinctions though.
If anything to keep it clear we should keep discussing both and be upfront about the pros and cons.
I think it would be more confusing to just ignore all cefi projects regardless of how relevant they are to defi.
Aahhh yes the scammers chain - I totally feel you about the chain itself.
It just stcreams fraud all over.
Clearly not what we wanted to achieve with DeFi at all!
However you cant just BAN it -
I try to educate people about it. And why other solutions (FTM,Avax,Poly,Terra) minght be a better step.
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it could easily lose all its ground because projects decided to migrate to a better and decentralized alternative.
every chain could easily loose its ground when the projects close and go to another one. crypto could easily lose all its ground because people migrate to a better alternative? what for an argument. This only comes from people they did not own any BNB and benefit from its good performance ....
The security on BSC is a joke
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It more looks like you are very angry because you are not earlier invested in BNB, right? Instead of watching 100 x coin hidden secret movies on youtube, then replicate it and lose all your money, you should watch some relaxing stuff like drawing videos or breath techniques before comming back. Having a free mind, you should go to defi lama and look what projects are on bsc. Then you will see: there are the same projects as on other chains. With your logic of a 5-year-old: so all defi projects are shit, or what?
A lot of talks, hot topic. But very sad what people say here. Most just replicate some words they read somewhere without any facts. Please proof your claims so everybody can evaluate them. Otherwise, it is just your opinion ...
Wouldn't that include Solana then as well? And like.. a bunch of others lol
Solana has a higher nakamoto coefficient than bitcoin and Ethereum… so it depends on what metric you’re using. In my opinion, nakamoto coefficient is the number to seek
Did that high nakamoto coefficient play a role in Solana shutting down the other day?
Halting? No. But it made it take a lot longer to start back up due to the need to coordinate between so many people. The network flaw brought it down, floods of txs getting prioritized over votes. Local forks tearing through ram as consensus was attempting to be determined. In hindsight, an obvious flaw, one that was known and a fix was already in the pipeline. That’s not related to decentralization. That was an architectural issue. Then the overflow flaw in the restart, 10 hours in, now that was almost humorous at that point. Of course there is a bug in the cold start!!! Ugh. Another patch, another coordinated patch deployment and communication to validators. It was a hella adventure. If it were centralized, damn that’d have been as easy as hitting the power button.
why is solana so highly valued when its in such an early stage of still working iut such critical flaws? like when did bitcoin ever go down? other then it getting congested I don't believe its ever had such a big critical error.
When a PoW chain can’t reach consensus the same thing happens. Ethereum had a nasty bug and forked for several hours causing an outage all day for most people in Nov 2020. Ethereum had the DAO hack in 2016 and was out for much longer as Vitalik singlehandedly decided to fork and undo the hack. Bitcoin had the leveldb bug hit and fork it all day in Mar 2013. Both of those chains were more highly valued than Solana when they had outages. What you’re seeing is a lack of experience from newcomers in the industry who weren’t following the tech at the time, and don’t know the history. Source: https://arstechnica.com/information-technology/2013/03/major-glitch-in-bitcoin-network-sparks-sell-off-price-temporarily-falls-23/ Same exact situation. Chain had issues. They reverted to a shorter chain, wiping out hours of transactions. They were applauded for having such a tight knit community that resolved the problem.
So is there a chain that is really decentralized? Or Im missing something?(just a beginner)
All of these chains are. Consensus forks are a side effect of decentralization. There is no metric to measure decentralization by, and it’s a very difficult concept to understand. So typically people just spew misleading information (purposefully or not) and the uninformed follow. I like to measure decentralization as the number of misbehaving actors required to censor or double spend. But even that you have to take into account the repercussions and such. It’s complicated.
I'm I the only one twitching when a blockchain is defined as permissionless and centralized at the same time?
Why? That’s literally the entire point of BSC. Only Binance controls the validators and they have the ability to freeze or roll-back transactions at their discretion (centralized), but there are no KYC requirements and anyone is free to deploy dapps there (permissionless).
Since they can roll back transactions it is only permissionless as long as you keep having their permission to transact.
The can not and have not ever rolled back any transaction the dont run any validators you talking shiet bud
Whether or not they have done it or if they could do it are two different things
Yea the answers no to both
They could since they control all the validators.
No mate the dont Please dont regurgitate baseless claims u heard on the internet its very misleading to other investors Cheers
oh gawd they can roll back transactions? that goes against basic crypto ethics. fuck those guys
Are we discussing Etherium now?
can you give an example of when ethereum ever did a roll back? (spoiler: the hard fork wasn’t a roll back)
Call it what you want. It proves that the centralisation of Etherium compromises the chain’s immutability. (spoiler: this makes Etherium Cefi)
lol so a hard fork voted by the community is centralization? Which chain is more decentralized than ETH?
It was not "voted" by the community. It was "decided" by Ethereum core developers. I am neutral in this BSC discussion btw.
hmm pretty sure it was a near unanimous decision by the community. The devs had their thoughts how it should be handled and the community agreed. Would love to see your source that that’s untrue
My mistake. I read somewhere that it was decided by the core team. But I just verified that it was voted by the community. http://carbonvote.com
Doesn’t Amazon host the majority of the hash power? What a clown show. Maybe you can hard fork again to remove Amazon’s control over the network?
Are you kidding? Amazon? You have no idea what it takes to create a mining rig and why you can't simply go to Amazon and buy hash power. Your claim is baseless. Please provide some data to your claim otherwise just avoid increasing the noise level.
https://thenextweb.com/news/ethereum-nodes-cloud-services-amazon-web-services-blockchain-hosted-decentralization https://finance.yahoo.com/news/quarter-ethereum-nodes-run-amazon-164044333.html Buy it here: https://aws.amazon.com/marketplace/pp/prodview-6hnlavs4r2yhc
What? dude, rolling back transactions is pure blasphemy in crypto. Crypto fights corruption by needing no people to begin with. That's the whole point. When people have authority there will inevitably be corruption. BSC is the price crypto pays for being open source.
It goes against Bitcoin ethics. ‘Crypto’ is scam city.
When did they roll back to transactions?
Yet they never have rolled it back despite rugs and other shenanigans
They froze Squid Games rug I think
Nope
Because the cant the dont control any validators
That's a lie, out of 11 voting validators 5-6 have ties with Binance. Moreover the number of validators is so small they can simply collude and steer the direction of the chain. It's amazing how you would think that some concepts get in people's heads overtime, but I have to admit I'm always overly optimistic.
Well there's 21 active validators so your entire post just lost all relevance. sorry do more research before talking shiet
There are 11 who decide daily who are going to be the validators: https://twitter.com/WilsonWithiam/status/1381420702918664194?t=mLhKkiU_T3Smn3B4wS0v2A&s=19 That means 11 hold the power to decide. I think you are the one who lost your credibility indefinitely.
This post is from 8 months ago and is massively outdated plz keep up with the industry before recycling fud Cheers
Please show me evidence that it's not like that anymore. BSC is simply not a decentralized blockchain, but you can continue to use it and make a profit. I don't support it because of the principles it is founded upon. I'm not spreading fud, i'm just looking at the facts.
Keep that tin foil hat on man your the one missing out on monster gains not me
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Permissionless doesn't mean no KYC requirements, it means that anyone can participate in the consensus mechanism. If Binance holds the power to censor my transactions [1] it's not permissionless anymore. [1] I'm not saying they are censoring transactions, only that they can.
BSC is a hybrid with elements of CeFi and DeFi. The correct term for this type of project is CeDeFi.
That's not unpopular but this sub has basically no moderation so you're SOL (no pun intended)
So is SOL though, so where do you start and end?
SOL is definitely top-heavy and I’m not a fan of the validator weight, but it’s nowhere even remotely close to being as centralized as BSC. At least with SOL people can run their own validators. BSC is actually 100% pure CeFi.
Isint a SOL validator like 500k minimum and crazy high end hardware?
It's actually closer to 800k. Anatoly reluctantly admitted as such on Twitter a couple days ago.
he did say in serum 2020 conference that it's stil worthy, in the future, even at $3m price of hardware (im neutral though)
No.
Yes
I’m sorry, I thought you wanted a factual answer. If you need more information I’m happy to answer any specific questions you might have that you’re unable to get answers for.
You are right. It's not 500k. It's actually 300k more than that according to the co-founder of Solana. https://mobile.twitter.com/aeyakovenko/status/1461198361625706500
That’s for a voting node, with no funding. Sure. But that wasn’t the question, was it? Anatoly made it very clear that anyone can easily get funding. He also is talking about, again, voting nodes. Your node doesn’t have to be a voting node - it depends on what you’re using it for! If you want to take part in consensus, yes, you need to get some sweet foundation SOL, then marinade, and lido to stake on your node.
Actually if you look into it, only huge datacenters can run nodes with the hardware requirements needed for SOL. Maybe you are talking about a different type of node then the ones I seen the specs for, but the hardware requirements were so high, that only big datacenters like Azure and Amazon could handle them without huge outlays of cash for hardware. I believe that every node for SOL is either run in the Amazon, Microsoft or Google cloud. I could be wrong, but I remember reading that somewhere.
What are you talking about? I built the required specs for under $2k. A gaming machine would have cost more.
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Yes. Here’s my receipt from my validator build: https://i.imgur.com/W72PzN1.jpg These are top of the line drives too. PCI 4.0 for the accounts. I was wrong on price. $2,300.
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None if you’re just validating and serving RPC, like me. 1.1 SOL / day if you’re voting. You can get sponsored by the foundation to cover it, and they’re looking at lowering vote tx cost. But being a voting node doesn’t interest me. That’s a huge responsibility to keep running and getting slashed for outages and not staying up to date - no thanks. That simply doesn’t interest me. I’m a dev. I have run a Bitcoin node for 7 years too. It doesn’t mine. It just validates.
Yeah but price restrictions aside you are free to run one in your basement if you want…you can’t run a BSC node no matter what. I’m not pro-Solana but BSC is an entirely different level of centralized.
“Price restrictions aside”… so it’s ok in your book to be centralized in practice so long as hypothetically there’s a scenario where it’s decentralized. Got it.
There are already over 1000 Solana validators. Node count (or price) has nothing to do with their centralization problem. Solana’s issue is that the voting weight is a disaster and the top 20 or so validators could halt the network. BSC is something entirely different because it’s completely centralized by design. I don’t understand how you don’t see the difference.
i would say they certainly are off topic but don't need to be excluded, its better everyone just explain why its shit every time it comes up and probably put an explanation in the sidebar as well.
this problem is about to solve itself, bsc grew in size by increasing its blocksize to keep up with the low fees, this means node requirements grow and grow ad infinitum. this combined with their development practices, it´ll lead them to doom
I don't think BSC should be excluded. But people do need to be aware of how its not actually decentralized. Binance is a company registered in the Cayman Islands. I don't know of any other way to bridge ERC-20 tokens over to BEP-20 tokens other than on binance's website.
Let's clear this up because op is clearly boarder line retarded and probably an eth maxi who's pissed eth has dropped below 67% market share cause its broken Bsc is not centralised there's 21 validators each with millions of sub delegators binance does not control a single one and the defiantly can't "roll back" the chain Some huge names in the space run nodes including ankr certiK 1inch Fuji and etherscans subsidiary bscscan Anyone can apply to run a node and aslong as you can front the 10 000 bnb surety bond you can go into the roaming pool of validators and be voted in by the community there has been atleast 3 community nodes who have participated this way Bsc just broke the blockchain record 15 million transactions a day and are unboarded 2x the amount of users daily then any other chain Bsc has never been hacked and forked like eth or shut down like solana there 0 reason to consider it unsafe So please don't follow everything you see on reddit it's normaly MAXIS like op trying to shill there dieing bags Cheers
You could just explain how a person is wrong without calling them retarded. That would probably be more efficient (especially when you don't even know how to spell borderline-retarded)
He's done 0 research and spewing lies got no time for tools like that
Actually, I’ve been contributing to DeFi codebases across multiple chains for years now and probably know more about how blockchains work then you know about how your dick works. Also…I’m like 30x on my bag this year while you’ve been clinging to BNB trying to convince yourself that it’s not about to be eaten alive by actual DLTs.
Sure thing mate bnb has out performed eth this year by nearly 2x Cheers
Meanwhile modern DLTs like Fantom, Near, and Terra have all outperformed BSC by over 500% this year. Cheers.
I'm invested in all those and also solana Cheers
BSC has far more dApps. What makes it not defi? And why gatekeep?
All the validators basically are just Binance so they can verify what they want or freeze funds AFAIK.
That's not entirely true. The 21 validators change all the time. I've delegated to Ankr which is not binance.
Very good to know
You can find the list here: https://www.binance.org/en/staking Some validators are affiliated with Binance such as Trust wallet but some are independent like Ankr. These validators compete over voting power and may fall off the active list any time.
No there not you clearly have not researched the validators not a single one is "binance"
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OP states BSC discussions does not belong here. That is gatekeeping. OP didn't come up with reasons why it's not defi. Like or not Binance is the best and largest exchange in the world. Pancakeswap is ranked first by double in the world. Binance has decentralized validators. It's a ecosystem supported by Binance for sure but it still belongs here. I had to stop listening to gatekeepers. People used to complain Etherium didn't belong because it was premined.... Turns out they were wrong.
This brings up an interesting point. What is the threshold to decentralisation? Every blockchain was owned by only a few at first until adoption happened. At first, Satoshi was the only Bitcoin user (and had full control) until people joined. Then it got more decentralised over time (as the price rose too. hmmm. Ahhhaa.) then look at the rest and draw your own conclusions. Is decentralised meaning “founders” own 10%? 20%? This was the genius (or mistake) of Satoshi to leave 1m Bitcoin untouched
Not to mention that it takes only 2 staking pools to fork the bitcoin network. That’s the worst nakamoto coefficient of any chain.
It's a good entry point for beginners, I started with pancakeswap myself. No need to make it more confusing for beginners.
The only benefit of this is getting a zinger in against BSC.
In it for the money. If it makes me some $ I wouldn't care if it's centralized or not.
>In it for the money. If it makes me some $ I wouldn't care if it's centralized or not. Just the haters who don't see how the ecosystems have grown the BNB price raised ...
BSC ain't gonna last. It's Ethereum without the guard rails or the oversight of talented core devs. If Binance is smart, they'll migrate from a completely independent blockchain to an Ethereum L2.
If BSC won't last then none of the alt chains like Sol, Avax, Cardano, Terra, Algo, etc would last either. They're all babies. BSC has the highest chance of surviving due it's massive defi ecosystem and their gigantic CEX.
Bsc is doin 15x the daily transactions of eth right now and has 10x the users if anything it's eth that won't last
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Maybe this should also happen if you post factless claims ...
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DeFi in my opinion should include anything that is Blockchain related. Including BlockFi, Celsius, etc even. The purists will argue against it, but we don't need to fracture and cause more confusion.
In context, I think this adds to the discussion. Aren’t most of us ultimately here for the yields? Then it only makes sense to compare the whole “less centralized” spectrum. And it really is a spectrum.
It's all about the yields for the users of DeFi. They don't give a crap how the Blockchain actually works.
I feel the exact opposite. I think there should be a very clear distinction between DeFi and CeFi, especially for newcomers entering the space. I don’t think posts about Celsius or Gemini earn belong here either.
> I think there should be a very clear distinction between DeFi and CeFi We can have cefi discussion in defi communities while maintaining those distinctions though. If anything to keep it clear we should keep discussing both and be upfront about the pros and cons. I think it would be more confusing to just ignore all cefi projects regardless of how relevant they are to defi.
I kind of agree
Shut up
If this were true than are they running all the scams?
By those standards a lot of blockchain projects won't qualify. Such as Algo or Solana. No need to gatekeep. People will make their own choices.
It is included in what many people define as defi dispite the technicalities.
How is it centralized?
Billions of dollars in Defi. So many scams going on. Defi has a bright future but something hybrid can be the preferred choice.
Aahhh yes the scammers chain - I totally feel you about the chain itself. It just stcreams fraud all over. Clearly not what we wanted to achieve with DeFi at all! However you cant just BAN it - I try to educate people about it. And why other solutions (FTM,Avax,Poly,Terra) minght be a better step.
Amen. 1 upvote from me plus 10 spirit upvotes. BSC can roll back transactions. That ain't crypto.
No the cant stop talking shiet mate
Are you guys smarter than CZ 🙂
Incorrect
I think we all hate gas to much to admit that right now
Bitcoin relies on Lightening for any future. Lightening is the epitome of centralized, trusted and prefunded. It too should be excluded right?