[FlacoJones]

Closing line with the usual FUD around decentralization as a scary thing - even though it was centralization and privileged actors at the center of that centralization that has caused every major CEX collapse.

If we think an occasional CEX collapse is bad, the financial surveillance and political manipulation that would occur under a CBDC scheme is far more damaging to freedom and financial security in the long run.

Be vigilant of articles that slip in advertisements for CBDC - they are quickly becoming a propaganda weapon.

"A more promising approach is through central bank digital currencies that operate within the broader digital monetary system. This is an approach that builds on the trust embedded in central bank money, and could serve public interest in a future monetary system(opens a new window). The technology benefits flow to real world economic activities rather than just other types of crypto. The economic benefits of decentralisation should also be scrutinised more effectively. We are now seeing what happens when an industry rests simply on an article of faith."

[secretsatan]

Have you got any tips for how regular people can deal with the decentralized system without losing their shirts? Just using the acronym FUD everytime someone critises crypto is not an argument

[robcohen]

Which decentralized system are you referring to which left people without their shirts? FTX was highly centralized, and not even purporting to be otherwise.

[braingenious]

Great question! What tips do you have to share?

[landemva]

Quickly:

Download wallet Exodus for PC

or install Metamask wallet plugin for web browser

or install Brave web browser and use integrated wallet. Advanced learners can later download ethereum or bitcoin open source software and create wallet on command line.

Back up private key and seed phrases. Write them down and seal into an envelope. Back up these secrets now!

Have someone send you crypto to your public key. Or get a kraken/coinbase account to buy some and then send to your wallet public key. This gets the crypto off the exchange.

Start small.