You’d think the sort of people who buy crypto tokens wouldn’t be the sort to trust others to hold their ‘money’, but I guess consistency is no one’s strong point.
Then there are people who don’t care about decentralization and flood every discord server asking “wen token” and are just around to make free money and would happily do it on a centralized platform.
The second group has grown in size over the last few years and will put money into things that are clearly scams in hopes of a payout, and will click “sign transaction” anytime they’re prompted.
This is why the UX for blockchains needs to improve. There’s no reason that tooling can’t warn people when they’re authorizing funds to an unknown address. There is at least one hardware wallet that’s building out visualizations to help users understand what they’re doing.
Just launched a week ago and there's a ways to go yet but we're working on things like honeypot detection, dodgy tax fees, issues & changes of contracts, etc. The amount of scam tokens out there and unscrupulous tactics is outstanding (though unfortunately not surprising).
"don’t care about decentralization and flood every discord server asking “wen token” and are just around to make free money a"
Please ... both groups are rife with hustlers and pyramid scammers.
Crypto as an asset class is entirely a grift irrespective of the few 'legitimate backers' beliefs or actions.
If it were not for the big pile on of grifters, crypto would not have inflated prices and would therefore be the purview of a small number of hobbyists.
Finally, the notion that people should have an advanced understanding of computing, crypto, security and the various pitfalls, would imply technology is accessible to less than 0.01% of the planet who have both the will and ability to do so, thereby rendering the nill as any material opportunity for true 'decentralization'.
If people had to live in that world, they would be begging for some trusted institution in which they could safely place those funds, which are called 'banks'. Anyone can found one so long as they follow the regs, and those regulations are fully open and transparent. It represents just thee right amount of 'decentralization' necessary to keep a system with very high integrity afloat.
For clarification purposes, what's the rhetoric you're referring to?
Free from what? Free from having to transact with third parties and the financial system? I'm not seeing the contradiction for that. Free from worrying about money? Getting rich? I guess that's a contradiction in the sense that losing money is contradictory to getting rich, but I don't see how anyone can take "we're all going to be rich!" as some sort of principled justification for the existence of something.