When the Satoshi entity created Bitcoin, Coinbase was the last thing in his mind. In fact he wanted to get rid off things like Coinbase and create a new monetary system of exchange because he was afraid of what might happen. And it did happen. Ironically, "Bitcoin Jesus" Roger Ver that created Bitcoin Cash as a way to get back to Satoshi's vision, was instrumental for one of the biggest insider scams in crypto history.

As I mentioned before in previous posts, decentralised exchanges will lead the way because scandals like these will keep popping up. Projects like 0x, Bitshares, Kyber can facilitate the framework to build exchanges that are independent from the flawed human factor. This is not just greed. This is simply human nature. When money starts flowing with that ease people act stupid.

I won't be surprised if the next big correction comes from a scandal such as this one. The public's trust can be shaken as easy as it can be build. Enthusiasm and FOMO can turn easily into FUD and then growth can be suspended.

Let us not forget that crypto has been around for 9 years now and there is no product that is being widely adopted. This was not the case when the internet came about. There was wide protocol adaptation. There was actual usage, not just speculation in value exchange. Bitcoin was supposed to revolutionize money yet we see the first adopters that build the exchanges to fall into the same pitfalls as those who they were trying to fight. Crypto wealth has never been so concentrated to few hands.

To the central authorities that we are trying to fight, we all seem like immature babies begging for regulation because we can't handle our toys. It is only a matter of time until someone switches the lights off. Decentralisation slowly becomes a meme word because it has yet to be used proactively. Scandals like the one with coinbase don't make the whole thing look like a revolution but more like a con game. A game we are all well aware because it has been played by the bankers over the last century or so. Players change but the game, still, remains the same.





















