'I definitely personally hope centralized exchanges burn in ****:' Ethereum founder blasts the most powerful players in crypto

Business Insider | 7/7/2018 | Frank Chaparro
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Vitalik Buterin had some choice words for centralized exchanges, according to TechCrunch.

His remarks come as so-called decentralized exchanges gain popularity in the crypto world.

Vitalik - Buterin - Founder - Cryptocurrency - Ethereum

Vitalik Buterin, the 24-year-old founder of the cryptocurrency Ethereum, had some choice words for centralized crypto exchanges.

"I definitely personally hope centralized exchanges burn in **** as much as possible," Buterin said speaking to TechCrunch.

Bitcoin - Cryptocurrency - Satoshi - Nakomoto - Point

When bitcoin, the original cryptocurrency, was founded in 2008 by the anonymous Satoshi Nakomoto, the point was to create a decentralized financial future that renders middlemen useless.

Nearly 10 years later, the centralized exchanges — those folks sitting in the middle of buyers and sellers — are among the most powerful players in the market for digital currencies such as ethereum and bitcoin.

Bloomberg - News - Day - Year - Exchanges

Bloomberg News estimates they brought in $3 million a day last year. And exchanges such as Gemini and Coinbase are expanding at a clip, bringing on talent from Wall Street.

"It's hard to ignore the irony that an asset created to allow decentralization is currently almost completely traded on centralized exchanges," Peter Johnson, a vice president at Jump Ventures,...
(Excerpt) Read more at: Business Insider
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