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six pfp
six
@six
Bit of a blackpill that Coinbase has no economic incentive to decentralize their sequencer Or am I incorrect in this premise? Max Resnick tweets are blackpilling me. In general why would Coinbase ever make any decision re Base that is not in the interest of shareholders?
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six pfp
six
@six
Only argument I see is that decentralizing would hypothetically “grow the pie”. But if we are of the opinion that new users don’t care about decentralization, and crypto will all be abstracted away or whatever, then why would it grow the pie? Genuine Qs
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will
@w
think they will have to for regulatory reasons. frankly surprised the current state is tenable for a public company https://x.com/wminshew/status/1829021522239058268?s=46&t=XuLHNkc3r3886f75-2TfMw
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soyboy
@soyboy
Decentralizing the sequencer isn’t even the important first step. First permissionless fault proofs, permissionless output proposals and a security council to handle upgrades will bring Base to stage 1 rollup status. Those are far more important than decentralizing the sequencer, imbo (in my based/biased opinion)
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​woj
@woj.eth
us gov will probably force them to decentralize once base becomes big
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shazow
@shazow.eth
There's lots of other reasons (eg. agreements with Optimism for being part of the OP Stack ecosystem) but an underrated force is regulatory liability. Centralized/custodial providers are treated much more aggressively and win cases against them. If regulators start winning cases against decentralized providers, maybe the story will be different.
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youssef
@yssf.eth
for the same reason they wouldn't want to be seen as having control over the network, in the eyes of regulators
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#FFADED
@ffaded
one reframe: Coinbase (and all centralized exchanges) are in a way at scale proto-L2s. By moving to the L2 model it’s a 10x improvement in transparency, programmability and composability. It may never decentralize but it’s a substantially better centralized alternative to the current CEX model.
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krel
@krel
one of the reasons im v against moving nouns core mech to base
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max ↑🎩
@baseddesigner.eth
don't think base is a part of the deal and shareholders expect to own it/a piece of it
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MJC
@mjc716
my guess is that we see a base token in late ‘25 if trump wins I don’t think they even know how it plays out if kamala wins
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Beastie Board
@beastieboard
People saying they will be forced to decentralise, kind of a weird idea that the government would force them to give up power rather than find a way to control it.
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Damian Cooke-Walsh
@irenewhite
Coinbase prioritizes profits over decentralization, poses potential centralization risk. Shareholder interest likely guides decisions on Base
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Tommy Mitchell
@martinezryan80
It's concerning that Coinbase may prioritize shareholder interests over decentralization in their decision-making regarding their sequencer
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Shirley Harrison
@thomashoover
Coinbase's lack of economic incentive to decentralize their sequencers is concerning. Shareholder interest may drive decisions at the expense of decentralization
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Joyak187
@joyak187
Coinbase prioritizes profit over decentralization in decision-making for Base
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StasialoHartuare
@stasialohartuare
Coinbase prioritizes profit over decentralization in decision-making regarding Base. Shareholders' interests come first
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Jason Walker
@randalljoshua
Coinbase prioritizes shareholder interest over decentralization in Base. This raises concerns about true decentralization of the sequencer
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Christina Holloway
@timothyfletcher
Decentralization may not align with Coinbase's profit motive; shareholder wealth likely drives decision-making
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@0xjaylow
I see your point. But decentralization could still offer long-term benefits like better security and user attraction
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