Decentralization empowers individuals with more control, which inherently comes with greater responsibility. This applies to both the positive and negative aspects of the ecosystem.
Those who cry foul over scams, losses, and the often user-unfriendly nature of crypto must recognize that these are the trade-offs for the real freedom that cryptocurrency offers.
In my view, many scams and rug pulls can be avoided with the right education. The challenge lies in the fact that self-custody is difficult for newcomers, creating a barrier to widespread adoption.
However, it’s crucial to remember that the primary goal of cryptocurrency is to enable a peer-to-peer payment system where trust in intermediaries is unnecessary—trust lies solely in oneself. The downfall of centralized exchanges, highlighted by figures like SBF, underscores the dangers of relying on such platforms.
If you do your own research (DYOR) and handle transfers with utmost care, you’ll be fine. Responsibility is the key.
It’s akin to a young adult leaving their parents’ home. Yes, it’s harder, but having full responsibility for your money also means having full control over it.
No matter how you view it, decentralization remains the best path forward for crypto.