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Analyst Crypto Tea Debunks Lies About Decentralized Fast Cryptos

Crypto Tea talks about Bitcoin’s competitors and their decentralized systems.The Twitter analyst believes Bitcoin was meant to be slow. Crypto Tea argues that several other...
Analyst Crypto Tea Debunks Lies About Decentralized Fast Cryptos © Reuters Analyst Crypto Tea Debunks Lies About Decentralized Fast Cryptos
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  • Crypto Tea talks about Bitcoin’s competitors and their decentralized systems.
  • The Twitter analyst believes Bitcoin was meant to be slow.
  • Crypto Tea argues that several other popular blockchains aren’t really decentralized.

In a much speculated Twitter thread, Bitcoin enthusiast Crypto Tea assessed decentralized cryptos and questioned their credibility with that of Bitcoin. She claims Bitcoin was designed to be slow to allow all nodes to sync at the same time. Crypto Tea thinks decentralization would not be possible if Satoshi made the block time faster.

Crypto Tea takes the first punch at BNB. In her understanding, BNB markets itself as decentralized. But then, she revealed that during an incident that led to an exploit, BNB stopped the blockchain within minutes and also reviewed the code. She claims that If Binance can freeze users’ money and change codes, how is it decentralized?

The cryptos that claim to be faster than bitcoin are centralized, so they cannot be compared to Bitcoin.

Secondly, the hit came towards Terra Luna; Crypto Tea said Luna ‘marketed itself as decentralized’. She mentioned in her tweet saying, “But when things started to go wrong they halted the blockchain with one phone call. If Luna could freeze your money, is it decentralized?.”

Then the Bitcoin enthusiast planted a blow to Solana. In her Twitter thread, she stated: If a single point of failure was present, it is not decentralized.In her frenzy of tweets, Crypto Tea continued the attack all crypto competitors. She did not spare Ethereum and said, “Even Ethereum is not decentralized. Ethereum foundation acts as a central bank, changing the monetary policy to inflate and deflate the supply.” She said that Vitalik being the founder would instantly push through a code change if the situation was bad.

Crypto Tea also believes “fast blockchains are centralized.” Moreover, according to her, Bitcoin is instant, anonymous, decentralized, energy efficient, and extremely cheap. And she announces that “there is no second best” to Bitcoin.

The Bitcoin fanatic faced backlash for her knowledge of tokens and decentralized systems. A user named EverythingGolf replied saying ‘Everything you said is wrong.’ Whereas, another user, Lukas Philipp explained: “How fast a blockchain is doesn’t really much say about its decentralization. It could also be that the block size is just much lower and therefore much quicker to process.”

The post Analyst Crypto Tea Debunks Lies About Decentralized Fast Cryptos appeared first on Coin Edition.

See original on CoinEdition

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

1.0658

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GBP/USD

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USD/JPY

157.91

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AUD/USD

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USD/CAD

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EUR/JPY

168.32

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Adidas AG

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Deutsche Lufthansa AG

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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