“Godfather of Ethereum” on centralized exchanges – Yani Malahov

“Godfather of Ethereum” on centralized exchanges – Yani Malahov


…Absolutely, like please don’t keep any
tokens on centralized exchanges. In the
long run you will just, for sure,
lose them. Centralized exchanges are
created to fail essentially from the
beginning. They are not blockchain
products. They [are] just using, kind of, like
virtualized blockchains so they’re claiming
that you have bitcoins there in [your]
account, but actually you don’t have
bitcoins or you don’t have Aeternity tokens.
It’s kind of like… they’re kind of like
banks… like fiat money
banks… like your traditional
institutions, very similar. But they have
their use.
If the decentralized technology…
If there are decentralized digital exchanges [and they]
would be working as fast, as seamless as centralized
exchanges right now, there would be no
use for centralized exchanges. So it’s
coming. We are getting there, It’s a
matter of time… maybe there will be no
public centralized exchange in the
future. Maybe they will become even
illegal because they’re kind of, like,
manipulatable and not open to enough
players around the world… And for
an efficient market to be really
efficient, there needs to be a
critical mass of players, and
exponentially, the bigger the market is
the more stable it is.

Leave a Reply

Your email address will not be published. Required fields are marked *