Unregulated exchanges might be worse for the society overall. NYSE and other centralised exchanges have alot of guard rails built to protect retail investors. For ex - a circuit breaker if the price jumps/crashes too suddenly to ease panic.
Nothing similar exists on Uniswap, it's cool for people who know what they're doing, it's terrible for everyone else.
The same was said of the internet. NY Times, CNN, Fox and other centralized news sites have(had?) a lot of guard rails to 'protect' people from unsubstantiated claims. The internet was the wild-west in terms of information and blogs containing potentially harmful information. Now look at where things are.
The guard-rails can be built in the new medium, and the result may actually be better than what we had before.
Comments
Unregulated exchanges might be worse for the society overall. NYSE and other centralised exchanges have alot of guard rails built to protect retail investors. For ex - a circuit breaker if the price jumps/crashes too suddenly to ease panic.
Nothing similar exists on Uniswap, it's cool for people who know what they're doing, it's terrible for everyone else.
The same was said of the internet. NY Times, CNN, Fox and other centralized news sites have(had?) a lot of guard rails to 'protect' people from unsubstantiated claims. The internet was the wild-west in terms of information and blogs containing potentially harmful information. Now look at where things are.
The guard-rails can be built in the new medium, and the result may actually be better than what we had before.
Our society is being destroyed by purposeful misinformation on the internet. I don’t think this argument is what you think it is.
Fake news and misinformation was busy destroying societies since well before the internet was even a twinkle in Al Gore's eye: https://founders.archives.gov/documents/Franklin/01-37-02-01...