Nostr
Crypto was meant to remove trusted intermediaries. Instead, a huge chunk of the industry now runs on admin keys, concentrated power, permissioned stablecoins, and emergency interventions dressed up as decentralisation.
Drift showed how quickly "trustless" can become trust in the multisig.
Stablecoins showed how much DeFi still depends on issuers that can freeze funds.
Hyperliquid showed that when survival is on the line, protocols may choose control over purity.
That does not make all Crypto pointless. It means you need to ask harder questions:
Who controls upgrades?
Who holds the keys?
Who can freeze, pause, censor, or settle markets?
What do you actually own when things go wrong?
How decentralised is your money really?
https://www.youtube.com/watch?v=0t1HS3Rcv5c
#Crypto #DeFi #Bitcoin #SelfCustody #Decentralisation
beitmenotyou1 / Michael J Burgess
npub123…58dpt
2026-04-09 10:19:30 UTC
Author Public Key
npub123j6zd6p5dls3qf2cae3dzqtrgl9vpd942jq6ge8l6mwr7muyy8qv58dptPublished at
2026-04-09 10:19:30 UTCEvent JSON
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"content": "Nostr\n\nCrypto was meant to remove trusted intermediaries. Instead, a huge chunk of the industry now runs on admin keys, concentrated power, permissioned stablecoins, and emergency interventions dressed up as decentralisation.\n\nDrift showed how quickly \"trustless\" can become trust in the multisig.\nStablecoins showed how much DeFi still depends on issuers that can freeze funds.\nHyperliquid showed that when survival is on the line, protocols may choose control over purity.\n\nThat does not make all Crypto pointless. It means you need to ask harder questions:\nWho controls upgrades?\nWho holds the keys?\nWho can freeze, pause, censor, or settle markets?\nWhat do you actually own when things go wrong?\n\nHow decentralised is your money really?\nhttps://www.youtube.com/watch?v=0t1HS3Rcv5c\n\n#Crypto #DeFi #Bitcoin #SelfCustody #Decentralisation",
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