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RE: Binance hacked, but the scary part is what almost came next...
But that's the kind of democracy that anarchy allows. We see it here with a small number of people effectively controlling the reins. If you believe in decentralised anarchic systems, then you have to accept this kind of outcome.
Personally I don't think they can work. Thousands of years of history has shown us that. I believe some things can be decentralized, but others cannot.