Row 35591

Row ID: 35591 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 35591 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

Well, first let's talk about the point of crypto in general. It is all about decentralization and security of money and transactions. CRO is the total opposite of that. It is not only a CEX coin, but also totally controlled by crypto.com. In other words the company controls all validators, the tokenomics, the price, and the trading conditions.

If the CEX needs money, for some reason it can loan other crypto for CRO (which they have minted from nothing). FTX is a good example how a CEX can finance itself with its own money.

As one can see with Binance if a CEX chooses to shut down a chain all tokens on the chain can only be traded with the CEX. The same can easily happen to CRO. If [crypto.com](http://crypto.com) sees no way to continue to make money (real one not CRO) from it, it will quickly shut it down - thus leaving owners in the dust.

If one of the chosen validators commits fraud on the chain - then don't expect any support or help from the CEX. It is not their money that is lost but yours. Why should they care. If they are in the mood the might replace the fraudulent validator with some other one.

These are only 3 scenarios that put's your investment on a serious risk.

Now I'd like to raise a simple question. Why not choose a chain that offers true decentralization, save transactions, and finally does not have a single organization controlling every aspect of it? There are lots of them to choose from if you do not like BTC.

There was once a comment that suggested that CRO reflects the market position of the CEX. This is not just obviously wrong, but really misleading. The capital invested in CRO is totally independent from the company. It is their customers that made the value of the coin. The DEX minted CRO from nothing, thus having not invested a single cent in CRO.

It is in the vital interest to keep the value of CRO high for the CEX, but that is only the case for re-using their pockets of CRO for making some extra bucks and not for serving their customers.

FieldValue
text Well, first let's talk about the point of crypto in general. It is all about decentralization and security of money and transactions. CRO is the total opposite of that. It is not only a CEX coin, but also totally controlled by crypto.com. In other words the company controls all validators, the tokenomics, the price, and the trading conditions. If the CEX needs money, for some reason it can loan other crypto for CRO (which they have minted from nothing). FTX is a good example how a CEX can fina…
label r/cryptocurrency
dataType comment
communityName r/CryptoCurrency
datetime 2024-05-21
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Raw Record

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  "text": "Well, first let's talk about the point of crypto in general. It is all about decentralization and security of money and transactions. CRO is the total opposite of that. It is not only a CEX coin, but also totally controlled by crypto.com. In other words the company controls all validators, the tokenomics, the price, and the trading conditions. \n\nIf the CEX needs money, for some reason it can loan other crypto for CRO (which they have minted from nothing). FTX is a good example how a CEX can finance itself with its own money. \n\nAs one can see with Binance if a CEX chooses to shut down a chain all tokens on the chain can only be traded with the CEX. The same can easily happen to CRO. If [crypto.com](http://crypto.com) sees no way to continue to make money (real one not CRO) from it, it will quickly shut it down - thus leaving owners in the dust.\n\nIf one of the chosen validators commits fraud on the chain - then don't expect any support or help from the CEX. It is not their money that is lost but yours. Why should they care. If they are in the mood the might replace the fraudulent validator with some other one.\n\nThese are only 3 scenarios that put's your investment on a  serious risk.\n\nNow I'd like to raise a simple question. Why not choose a chain that offers true decentralization, save transactions, and finally does not have a single organization controlling every aspect of it? There are lots of them to choose from if you do not like BTC. \n\nThere was once a comment that suggested that CRO reflects the market position of the CEX. This is not just obviously wrong, but really misleading. The capital invested in CRO is totally independent from the company. It is their customers that made the value of the coin. The DEX minted CRO from nothing, thus having not invested a single cent in CRO.\n\nIt is in the vital interest to keep the value of CRO high for the CEX, but that is only the case for re-using their pockets of CRO for making some extra bucks and not for serving their customers.",
  "label": "r/cryptocurrency",
  "dataType": "comment",
  "communityName": "r/CryptoCurrency",
  "datetime": "2024-05-21",
  "username_encoded": "Z0FBQUFBQm5Lak1KUWEyM2QwaFdRQzNQZUJocS1tcXBjSW5GWTd0Q2VCb0trTllkUGlsWXJTVG9qYmVhajloSXhfR0RuMVVyeU9Fc0NtYUU3eWpQV21rblI1YlVXd3c1U3c9PQ==",
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}
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