02-24-2023, 06:25 AM
You know this industry is f*cked up when coinbase launching a centralized "L2" with
<!-- SC_OFF --><div class="md"><p>"Controversial me" all day long, it is not controversial at all in my opinion. The new Base L2 launched by Coinbase is a centralized mess (just like all the other rollups like Optimism or Arbitrum on mainnet) and there's no more excuses. They are all controlled by a 4/6 multisig, 4 people control your funds, it is worse than a bank.</p> <p>Is it too much to ask out of this industry to not have centralized VC garbage that can be rugged entirely by a few insiders?</p> <p>It just feels like every single year I spend in crypto, more and more of my faith that we'll return to the OG vision of security and decentralization just disappears.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Simple_Yam"> /u/Simple_Yam </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11a3zwf/you_know_this_industry_is_fcked_up_when_coinbase/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11a3zwf/you_know_this_industry_is_fcked_up_when_coinbase/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>"Controversial me" all day long, it is not controversial at all in my opinion. The new Base L2 launched by Coinbase is a centralized mess (just like all the other rollups like Optimism or Arbitrum on mainnet) and there's no more excuses. They are all controlled by a 4/6 multisig, 4 people control your funds, it is worse than a bank.</p> <p>Is it too much to ask out of this industry to not have centralized VC garbage that can be rugged entirely by a few insiders?</p> <p>It just feels like every single year I spend in crypto, more and more of my faith that we'll return to the OG vision of security and decentralization just disappears.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Simple_Yam"> /u/Simple_Yam </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11a3zwf/you_know_this_industry_is_fcked_up_when_coinbase/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11a3zwf/you_know_this_industry_is_fcked_up_when_coinbase/">[comments]</a></span>