this post was submitted on 20 May 2024
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The big difference, though, is that if a crypto exchange says that there's more crypto than exists, they have to make good on that promise. Or they, you know, go bankrupt because they don't actually have the money they say they have. Where would they government? That's not the case. There are only 21 million Bitcoin available. If a crypto exchange tries to make it sound like there are more than that, then people will pull their money off of that exchange and then exchange will go bankrupt because they can't produce the money.Also, real crypto people don't rely on centralized exchanges anyway. They either trade peer to peer or use decentralized exchanges that can't be manipulated like that.