Buttcoin

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Buttcoin is the future of online butts. Buttcoin is a peer-to-peer butt. Peer-to-peer means that no central authority issues new butts or tracks butts.

A community for hurling ordure at cryptocurrency/blockchain dweebs of all sorts. We are only here for debate as long as it amuses us. Meme stocks are also on topic.

founded 11 months ago

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use a blockchain, they said. Fabulous efficiency, they said. Will revolutionise stock trading in Australia, they said. (www.ft.com)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 3 months ago* (last edited 3 months ago) (1 children)

Oh, because they're open source and easy to fork. Following now.

The issue is that only decentralized cryptos are actually transparent, centralized ones are just "trust me bro." Look at FTX.

[–] Kecessa 1 points 3 months ago

FTX was an exchange though, they didn't operate a network as far as I know. So on a centralized exchange itself there's no transparency because they take the coins, put them in their own wallet and trades happen internally, but in theory you can still see how much of each give the exchange has in its wallet as the wallet itself is public. There's decentralized exchanges as well that just facilitate the exchange of coins between people but it's all happening on the network.

The way I see it for a stock exchange you would want that second option (decentralized exchange so it's transparent) and the different stocks would be what are called alt coins on the existing networks, but only the central authority could create new ones instead of it being open bar...