(No Fun)
@BeldexCoin In Closing: The Ideal and Reality of True Privacy
Privacy coins always have an "ideal narrative."
A world where no nation, corporation, or platform can pry into an individual's financial activities.
It's a declaration to create a true "digital money like cash," directly rejecting the inherent limitations of blockchain transparency.
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Beldex is also a project that champions this ideal.
On the surface, it may seem like the most radical form of decentralization.
However, the actual privacy ecosystem is structured in the exact opposite direction of this ideal.
Ironically, it forces us to make extremely "centralized" choices.
Consider DWF labs' $BDX deal.
A whopping 7% of the token issuance is tied up in a single VC.
Of course, this doesn't violate privacy. However, due to "extremely centralized tokenomics," assets within the ecosystem are ultimately highly centralized.
Perhaps, because $BDX holds the reins, the @BeldexCoin ecosystem appears to be dependent on DWF labs.
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Privacy can be protected.
However, the ecosystem inevitably follows large capital to survive, and this leads to centralization.
In other words,
- Who sent how much to whom?
- What asset flows occurred?
- Which addresses belong to whom?
While this structure technically makes it impossible to know, "privacy" is possible,
- Operations and distribution are highly centralized,
- The survival and success of a few VCs are centralized,
- If the project's survival is inevitably dependent on this,
the irony is that while promoting privacy, its "centralized nature" is reinforced.
Hmm... Should @BeldexCoin be considered a privacy-centric coin? Is this really the right path for the privacy-related ecosystem?
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Well, I don't know anything, lol!
Anyway, bye @BeldexCoin. The name that will become Voldemort after January...
twitter.com/colu_farmer/status...
