Exchange vs Decentralized exchange? The choice is yours

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Hello fellow publish0xes'

well, as you all know by now.. there has been a stablecoin scam.. 

Very sad indeed! I suppose Satoshi had warned us about this. That is why the bitcoin blockchain is important. 

The idea of a decentralized currency is what makes it amazing. Nobody can control it... well, unless it gets hacked by a team of super computers like google or something.. But I dont think that will happen for a long time. What do you guys think anyway.. Can the bitcoin blockchain be hacked?

Im not a total expert or anything, but I read sometimes about the ' 51% ' network control thing. Anyways apparently It happened to the Ether blockchain once before ( i think ) , that issue was resolved and Ether forked and ETC classic or the original ether chain continued on or something. My fault if I get the information mixed up or incorrect. Anyways, I want to talk a little about the recent Stablecoin scam.

I dont know a whole lot about which network or coin it was, from my understanding it's the Luna coin network and the whole ' anchor protocol ' which promised 20% returns by simply holding stablecoins using their platform.

Did you catch that? 

You have to put your trust with them and hold the coins on their platform.

In return, you will earn 20%!

..I'd be lying if i said i haven't gotten scammed before. Honestly , I would have probaly done it too. 

Now i'll be thinking twice!

I Feel sorry for all the retail who lost money. Your loss will be remembered, and hopefully we all learn a little.

Right now, KuCoin is still allowing the coin to be traded on their platform... I dont think I agree with that, but it is what it is.. I've got a love-hate relationship with that platform.. It's nice they somehow let people trade without kyc. 

Be careful out there, using exchanges. They are in control of your assets and have the power to basically steal / freeze your assets... If you forget your password , guess what.. They give you the KYC bbc. 

Not to mention how they have the information and data of your account , positions , Order book , what kind of orders your placing , the works! That is not safe. Now they have the info on everyone using the site as well... also, guss what.. they still are in control of all the assets too.

If you are wondering what crypto keeps dumping, there is your answer.. ^^ 

My guess is that The exchanges are well, ' in cahootz ' ... ( i guess im reaching.. but, fact of the matter is they hold the keys a majority of order flow )

Personally, I was trading some kucoin on margin. Lets just say they rekt me real good. I'm talking multiple down candles directly to my liquidation sometimes instantaniously. It literally did not matter which coin I traded, Even if I took a short position , it seemed like I just magically got pwned. 

Perhaps I am just some unlucky trader. 

If It is too good to be true, it probaly is. 

When i first heard about smart contracts and how it was possible to place an order and flash loan arbritrage without fail - I thought ' Damn , It sounds easy ' , I Watched some youtube video guide , Tried it with some BNB... Bam! Free money, Right ? Wrong... I got scammed. And i didnt fall for it once, i fell for it twice! Lmfao. 

Anyways - There are definatly some good oppurtunity to make money and gains , I have learned to be careful and do a decent amount of research now. Currently , I am not a fan of the expensive gas fees on the etherum chain. Which brings me to another hot topic..

NFT MINTING , Front running , and failed transactions. 

This whole NFT craze is the biggest scam of all. Think about it... just think about it. It is simply not possible to confirm anything. 

Just because you see someone make an amazing gain does not mean its real. It does not take a big brain to make 20 different wallets and then trade NFTS back and forth to yourself , faking the price action and bids. 

People are purposly spoofing the price. While I cannot prove this..its a pretty basic concept. A caveman can do it.

When you buy the NFT, now you are trapped. It's not going to magically sell!

To top it off, people are failing $5000 worth of ether just trying to mint one...

But guess what , it not like the ether just dissapears, a Miner out there just scored.

Well, I have plenty of more thoughts most of them are probaly not the brightest. But I'll still write them here in my blog.

For a blockchain , I would like to see some cool ideas . I will list (In  no particular order)

..

Mining / Staking hybrids

decentralizedDividends (without staking) - these are rewards you earn in your own wallet without doing any 'staking'

Staking incentives - These just increase the normal decentralized dividends. 

Wallets get like, 1 free transaction a day or something.. lol

Flat rate Gas fees , that increase based on smart contract usage.. these gas rates are good for normal traders but not good for Arbritage / Bots. Is it fair to discourage bots ? 

Transaction / Failed transaction fee returns over time, Like when you use the atm, some card companies will refund the fee's after 1 month.

I suppose that wraps this post up.

Any thoughts, ideas , or criticism is also appreciated!

I always read every comment, feedback is welcomed - 

Stay safe out there - as always, Thanks Publish0x ( And read.cash! )

also , thanks to KuCoin .. They are not always so bad as i ranted above. Im thankful for the ability to cash out my earnings here and trade without KYC verification, but sometimes i do not agree with certain practices. 

Thanks for reading my post,My apologies if anything was upsetting to someone, I do rant some of my own opinions.

This is a repo from my Publish0x account.