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suy  1yr ago (astralcodexten.substack.com)   Edited 1yr ago   3856 thread views

Scott Alexander on Sam Bankman-Fried, FTX and Effective Altruism

astralcodexten.substack.com

I made this a top level post because I think people here might want to discuss it but you can remove it if it doesn't meet your standards.

Edit: removed my opinion of Scott from the body

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I cannot imagine how crypto could work without exchanges.

The exchanges don't need to work like the do now. The exchange could transfer the bitcoin to an external wallet, it doesn't need to be a wallet controlled by the exchange.

It's perfectly doable to buy bitcoins with Binance, and then transfer those to an external wallet you have 100% control of. That way if Binance disappears you still have your bitcoins.

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