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Comment by BreakfastB0b | Hacker News Reader

This is the dumbest thing I've ever read. So you designed a system that sacrifices everything to achieve trustlessness, and then you immediately reintroduce a centralised trusted entity. You can't make this shit up. I'm so glad I left the crypto community in 2014, it's become completely deranged.

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It is not dumb. Custodians are useful, very useful actually. With Bitcoin you can use custodians, but you can also host your bitcoins yourself if you want. The opportunity to do latter is the most important and makes Bitcoin valuable. However majority people in majority of cases prefer to use custodians, and there is nothign wrong with that.

If 99.99% of people are holding their coins in a bank, then I'm not certain what the point of the blockchain is.

Is the entire global system supposed to move to bitcoin just so 0.001% of people can keep their money under their mattress in a hard wallet?

I am coming to believe a large contingent don't actually care about trustlessness. They care about the deflationary aspect because it's supposed to make them rich.

I think the parent poster was being somewhat self-aware and tongue-in-cheek. They're not saying centralization is the ideal; just that it exists and works well.

Yeah, great move to leave crypto in 2014!

Whatever you need to tell yourself to sleep at night, buddy.

So I'm supposed to be sad about not participating in a pyramid scheme? You're literally making my case for me.

It's sad to see comments like this on hn. I thought this place was supposed to have meaningful discussions.

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