The world of cryptocurrency has always sold us a beautiful fairy tale: decentralization, freedom from banks and governments, control over your own finances. But is everything really perfect? Let's face it: instead of breaking the old system, crypto creates a new, no less complex one.
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Decentralization or corporate monarchy?
Blockchain is freedom, they say. But have you noticed how most projects today concentrate power in the hands of a few people? Look at the top 10 validators of most blockchains: the decentralization there is somewhere on the level of... early feudalism.
Exchanges? Same thing. Central players like Binance and Coinbase have already become "cryptobanks." Want to buy or sell? Pay a fee, give your details, and be prepared for your wallet to be blocked if something goes wrong.
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"Freedom" according to the rules of regulators
Every day, states are increasingly entering the crypto space. Licenses, reports, KYC, AML... Declare your assets, otherwise the tax minister will show up at your doorstep.
How do you feel about the news that the EU wants mandatory identification for every crypto transaction? And what about CBDC-style "privacy"? Sorry, but if this is "financial freedom," then I'm Elon Musk.
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Innovation or trap?
DeFi? Oh, it’s a real breakthrough. But when you’re offered 200% annual returns on a platform that could disappear tomorrow, it feels more like a casino than a financial revolution.
NFT? First you buy a JPEG for a million, and then it turns out you could have just downloaded it.
Even DAOs, which were supposed to be the pinnacle of decentralized governance, often turn into “management by a few whales.” It makes you want to say, “Who’s the real boss here?”
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What about users?
The average crypto enthusiast thinks he is a rebel in the financial revolution. But in reality he is just paying commissions because CZ or some DAO wanted him to. All these "hold until the month" stories end in the same way: buying at the peak and panic selling at the bottom.
Blockchain can change the world, but so far it only changes the wallets of speculators.
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Is there a future for crypto?
Of course, there is. But for it to come, we need to stop playing by the rules of the old system. Decentralization must become not just a word in a white paper, but a real value.
But until that happens, crypto is like freedom on credit. You supposedly hold your assets, but you are still dependent on regulators, corporations, and those who create the rules of the game.
Will anything change in 2025? Time will tell. But for now, the revolution looks more like a reality show.