11-11-2022, 07:07 AM
We learn best through experience. Major exchanges are publishing ‘Proof of Reserve
<!-- SC_OFF --><div class="md"><p>It doesn’t matter if you’re a small retail investor trying to swing trades on DogElonCactus 2.0, or one of the world’s major exchanges; we learn best through experience, and those exchanges have fuc**d up. </p> <p>Major exchanges, such as Binance and Crypto.com, are publishing their reserves in an effort to garner confidence from their users and the public, and that’s because confidence is <strong>low</strong>. </p> <p>From Celsius, Luna, and now FTX, these crashes have really smashed trust in the crypto space and hammered adoption, whilst affecting a lot of innocent users left holding the bags. </p> <p>It’s not good enough, really. </p> <p>While publishing their reserves doesn’t account for their liabilities and the full picture is very much blurred, I’m glad to see <em>some sort of change</em> enacted finally, and I hope to see more! We need these exchanges to be accountable, and we need to be able to build trust in the crypto space. </p> <p>We might have taken 2 steps forward this run and then 1 back, but we can still keep walking and looking forward to what blockchain and crypto can become one day in the not so distant future.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Chooky47"> /u/Chooky47 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yre1kn/we_learn_best_through_experience_major_exchanges/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yre1kn/we_learn_best_through_experience_major_exchanges/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>It doesn’t matter if you’re a small retail investor trying to swing trades on DogElonCactus 2.0, or one of the world’s major exchanges; we learn best through experience, and those exchanges have fuc**d up. </p> <p>Major exchanges, such as Binance and Crypto.com, are publishing their reserves in an effort to garner confidence from their users and the public, and that’s because confidence is <strong>low</strong>. </p> <p>From Celsius, Luna, and now FTX, these crashes have really smashed trust in the crypto space and hammered adoption, whilst affecting a lot of innocent users left holding the bags. </p> <p>It’s not good enough, really. </p> <p>While publishing their reserves doesn’t account for their liabilities and the full picture is very much blurred, I’m glad to see <em>some sort of change</em> enacted finally, and I hope to see more! We need these exchanges to be accountable, and we need to be able to build trust in the crypto space. </p> <p>We might have taken 2 steps forward this run and then 1 back, but we can still keep walking and looking forward to what blockchain and crypto can become one day in the not so distant future.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Chooky47"> /u/Chooky47 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yre1kn/we_learn_best_through_experience_major_exchanges/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yre1kn/we_learn_best_through_experience_major_exchanges/">[comments]</a></span>