Arguing with mETH heads and shitcoin shills can be tiring, especially when they are not willing to concede the false marketing in the space. One of my biggest pain point arguments is this DEFI exchange non-sense, I hear it all the time, bitcoin doesn't have DEXs it doesn't have DEFI.
You're right, bitcoin doesn't have a DEX, because building a real DE is super fucking hard, bitcoin has P2P exchanges, yes, but no automated market-making services yet.
Claiming other chains have DEX's is simply marketing and not practical, lets's take for example the major success story that pushed the DEX narrative, Uniswap.
Uniswap is centralised
Uniswap Labs deployed the smart contract for Uniswap, upgraded the versions, and manages the primary front end. They are the main developer of the Uniswap exchange protocol, and since its deployment, many people have built DEFI apps that communicate through Uniswap.
Uniswap is the focal point of the majority of DEFI on Ethereum, and most other front ends are derivatives of Uniswap, a white label product, a removal of certain assets to focus on promoting your assets liquidity pairs.
Uniswap Labs IS a company, if they do shaddy shit, the government can come after them, so to cover their arses and keep their investors from losing their capital, they have to abide by the pressures of governments.
This cannot be more true, than in the trend we're seeing in Uniswap censorship, as the primary front end has begun blocking crypto wallet addresses that are found to be engaged in illegal activity from its app's frontend.
Now you may say oh its hacked funds, it's stolen funds, its funds from illicit activity, but who defines that? Todays activist is tomorrows terrorist and having the power to ban someone can be abused every quickly.
In addition, blocking anyone from transacting, is an ingringment on their ablity to transfer value, that impacts their property, and goes against the ideals of decentralisation.
If you cannot see the hypocrisy here, then I have a bridge to sell you.
Shitcoin shill response
But you can use a different interface, okay how many interfaces do you know that don't communicate with Uniswap?
Oh you can move it to another more centralised service. The reason I picked Eth as my argument is that it is the poster child for shitcoins, if ETH can't protect against centralisation pressures, the rest cannot either. So that argument is mute.
Meta mask is centralised
The majority of people using ETH and various EVM shitcoin chains leverage the wallet Meta Mask, which has also proven to have blocked Venezulean and Ukrainian users from using the service.
If you don't know Meta Mask is run by ConsenSys a centralised company, which connects to Infura which is run on AWS a centralised company.
Shitcoin shills will say
Well you can switch RPC to another node provider? If the biggest node provider shuts you down, you really think the others are going to take that risk?
If you're not communicating with the blockchain via your own node or have the ablity to spin one up with little to no cost, then you're simply broadcasting via a middleman, doxing your data and IP address along with any data that can be scrapped off the web for that static address.
Tell me I am wrong, I'd love to hear how you get privacy from EVM chains.
If you're primary touchpoints are centralised, what have you actually decentralised?
The fact is Ethereum is not decentralised, so why would anything built on it be? Decentalisation can be argued as a spectrum I get that, but if you can be compromised then you're not in anyway decentralised enough to use the term.
Sources:
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