I'm starting to hate "emergency powers" for a while, due to the abusive use these so-called emergency powers have inflicted on us over two years of a fake pandemic. Decentralized blockchain technology is the light at the end of the centralized shit tunnel we're trying to get out of.
Bitcoin was created as a lifeboat on an ocean of centralized entities rushing in harnessing more and more control over us, our personal lives and funds, and data.
Altcoins are supposed to be cryptocurrency projects that are "solving shit" Bitcoin can't do, stuff like scaling into payments, DeFi, app development,s and so on, and to some extent projects like Ethereum, Hive, and a bunch of others are doing.
However, there are a bunch of alternative cryptocurrency projects like Luna and Solana for example which are nothing but a "digital reflection" of the real-world centralized entities.
It kind of all started with Luna, continued with Celsius, Blockfi and crypto.com and now we have Solana which is falling into the trap of false decentralization.
Paralyzed by the fear of falling into the same abyss Luna did, Solend is deploying "emergency powers" to take over a whale's account with emergency powers to eliminate the chance of forced liquidation.
Oh man... Solana just proved "how decentralized" it is.
The screenshot above shows what's in the fat belly of that whale that Solend is planning on taking over, through emergency powers. You know what, Solana...? FUCK YOU!
Yeah, FUCK YOU TOO, LUNA!
These types of garbage projects which have amassed INSANE market valuation and are, or at least were considered top crypto projects, are indeed just a bunch of crypto crap. You can't take over someone's funds so that YOU CAN DICTATE the liquidation and call yourself decentralized at the same time.
Even Dogecoin is "more decentralized" than that. Not to mention Hive... Man, I get so triggered when I see how undervalued Hive is and how overly hyped these crappy projects are. It's such a shame...
Not to mention Solana had to be "reset" so many times. That's not decentralized blockchain technology, cuz when you can reset something it means some entity has access to reset that particular system. You can't reset Bitcoin, you probably can't do that with Hive either...
What do you think of the latest Solana branded circus show, in this bubbling DeFi mess we're currently in?
Thanks for your attention,
Adrian