Hacker News Reader

At this point, people who leave their stuff at exchanges deserve to lose it.

Like, what else can drives the not your keys, not your coins mantra. CEXs are either greedy, or incompetent. Either way your “money” is not safe.

Of course, managing your own keys and being your own bank is work and comes with risks. It’s not for everyone. So, if you can’t or don’t want to do it. Then, perhaps Crypto is not for you.

View on HN

Fees are cheaper on centralized exchanges. Like with everything else in crypto, transaction fees kneecap most of the cool stuff.

Isn't that a pretty lame excuse? In exchange for saving a few dollars, you're going to hand over the keys to your entire account -- or possibly your entire net worth -- to an unknown, unregulated, unaccountable corporation?

It's not an excuse, just an economic reality. People prescribe value to things. The value of a typical transaction at a centralized exchange isn't worth the on-chain transaction cost. That's a problem with current blockchains, not a problem with the purchaser.

I can send thousands of dollars (with a 'priority' fee schedule) for less than a dollar in fees over the plain 'ol regular BTC network. It may be an economic reality, but it's a negligible one.

> That's a problem with current blockchains

So another "crypto fixes that" that really, it doesn't fix

Reply on news.ycombinator.com