Will you trust the Code or Human?

[aryana42]

The best way to preserve your money is to keep it in cold wallets that only belong to you. To be honest, I do not like the idea of DeFi at all, I would rather keep some of the money on well-known exchanges, for example, on binance.

Why did you only choose the Binance exchange? is it because the other exchanges are not good and good? And do you think the Binance exchange can't be hacked by irresponsible smart people? Then why don't you like the idea of DeFi, even though you are following the Emporium project which is also DeFi Liquidity.

[tyoA7X]

It is better if when we have bought a coin at any exchanger it must be moved to a personal wallet address this can prevent hacking and losing the assets we have, I have until now always applied this to keep from suffer someday

[BITDV]

The drawback of Centralized projects in crypto space (CEFI) is fear of hacks, wallet address on top exchanges like binance aren't ours, we don't control the keys, so it's safer to always move funds back to your own private wallet but the DeFi ideas are different, you don't have to trust any entities but the DeFi Code itself but still any flaws in the system may bring huge damage, honestly what can you trust here?


Today DeFi projects are now hackers bedsheet, they sleep on DeFi projects like it's nothing, hack here and there, will you still trust DeFi code or rely on CeFi ?

both of them have advantage and disadvantage. I will trust a code with some condition such as i can view source code/business logic it self. Using of DeFI demands its users to understand DeFi concept and not suitable for newbie, imo defi very useful for experience user

[awakpane]

Indeed, in addition to the advantages that defi has, there are some deficiencies that must be considered such as smart protocol is open source so that when Defi has a large number of assets, this will attract hackers to break into the smart contract and steal the assets that are in it.

[VDraci]

Are DeFi projects not build by humans? Are are you saying we can only rely on DeFi codes, if DeFi projects fail its the team fault too, they should stop using DeFi as a gateway to exiting scam, I think that's why DeFi projects team are talking about hacks only, I don't know if all those hacks are real hacks or they are responsible for hacking their own system to exit scam

[Atang Sulaeman]

Whatever the project is, as long as it is still profitable and safe, it will definitely be called the best,
but if the project fails, even if we lose a lot, it will definitely be said to be a fraud or a scam, and it
would be nice if we want to testify with any altcoin we have to research beforehand so that we will
not incur losses, in essence, always do research first,

[RealMalatesta]

Obviously the code. We are in a world where humanity is trying to do everything in their power to bring themselves out of the life they are living into a very rich and wealthy life and I am afraid people are willing to do anything they can for it.

We have seen plenty of people do exit scams, big sell offs and many other things that basically caused projects to get destroyed, but when you look at the situation in projects that doesn't care about the team at all, and have a very strong code base, they are doing awesome because nobody can destroy it, they do not have the power to destroy it, which results with the project to be trusted a lot more and used a lot more and that causes the price of that project to go a lot higher as well thanks to decentralization.

[Ryushin]

The code part belongs to DEX right? But isn't DEX built by humans? What code are we talking about? There is no difference between centralized and decentralized exchanges because they are both managed by humans and they can both be tampered with in any way possible, do not be deceived by decentralized

[ekeh]

The internet has made life sweet and less stressed of working, by passing information and communication, hence, the trust code or human authorization to login has been away of minimizing the level hacker to enter individual or company account, how ever, I prefer human code, by using a strong password.

[abel1337]

Well, I think both are needed. The recent hacks put doubt on the DeFI projects. Those DeFi projects aren't comparable to an established project/exchange whether if it is centralized or decentralized. The established project/exchange has layers of security so that the hacker can't hack them. New DeFi projects are the hacker's target today since it has a large amount of money in it and their security isn't buffed as established project/exchange has.

[Shasha80]

I think DeFi projects are a trend now, so I prefer DeFi projects to CeFi projects. Because something that is trending will be
easier to make a profit. Actually, both have strengths and weaknesses, depending on the developer team. If the project has
trusted developers, it is possible that the projects will be successful. So whether DeFi or CeFi we do have to do some research
first, to ascertain which projects have good potential.

[Altcoinsintel]

As I recall code is made by humans and there is no perfect code so don't expect a anything to run independently from human participation. AI is also human made although it can fix the mistakes on its own. This will be interesting development.
All code has bugs and vulnerabilities and it requires updates and bug fixes. Trust the code means nothing, it is some bs someone thought about.

[1l1l11ll1l]

Hacking occurs because of a lack of precautions on the security system, but too much prevention is also not good for user convenience. and mistakes must occur even if only minor things and can result in losses. So I'm just going to look at an exchange of credibility and also their track record. I think Cefi is probably safer because they have more control over their platform, whereas dex doesn't. but if dex is able to build a hack-proof platform, that is, with strong security, it will definitely be very good

[icalical]

The drawback of Centralized projects in crypto space (CEFI) is fear of hacks, wallet address on top exchanges like binance aren't ours, we don't control the keys, so it's safer to always move funds back to your own private wallet but the DeFi ideas are different, you don't have to trust any entities but the DeFi Code itself but still any flaws in the system may bring huge damage, honestly what can you trust here?


Today DeFi projects are now hackers bedsheet, they sleep on DeFi projects like it's nothing, hack here and there, will you still trust DeFi code or rely on CeFi ?

I don't think the answer to this question will make any changes, all of those codes are all written by a human, so you will still need to trust the man who makes the codes. The difference is that codes will not likely to make an error, while a human will. But after all as like you said, those codes will still might be manipulated by another human. So, in this case, I don't think you should trust anyone other than yourself, your research and always be careful handling your money and investment.

[nrvasquez]

Defi still has many gaps, I don't believe in Cefi or defi, but it's better if we take our own precautions. rather than risking our own assets. set a strong password and activate the 2FA security system

[PerfectCircle]

I believe that anything that was build by humans can be manipulated, instead of trusting my assets on a code that may be manipulated I'd trust myself instead and rely more on top old projects that have proven that they are different, relying on codes is same thing as relying on human

[XCANA]

The drawback of Centralized projects in crypto space (CEFI) is fear of hacks, wallet address on top exchanges like binance aren't ours, we don't control the keys, so it's safer to always move funds back to your own private wallet but the DeFi ideas are different, you don't have to trust any entities but the DeFi Code itself but still any flaws in the system may bring huge damage, honestly what can you trust here?

There has been issue with the recent happenings in the world of defi, most hacks sometimes where been traced to inner security breach that lead to most hacks. Basically there are flaws in humans and in code but holistically i would choose code becasue their are less vulnerable in my honest opinion. Centralize cryptocurrency exchnage are good for those whom funds are not as much but little stash of coins, Binance exchnage has good security and can be trusted to some extent. 

[unusualfacts30]

Aren't codes written by humans?

People who trust the code are also putting their faith in humans. If you're speaking from defi and cefi perspective, I find that centralized exchanges are still more developed and there are people who can rely on if something goes wrong. With defi, there is no central authority and if things go bad or hacked due to fault in codes or anything else, no one is there to take responsibility.

Its best to keep your cryptocurrency with you if you want maximum security.

[Ken_terrance]

Codes are created by men so they can be manipulated and coded projects like DeFi can escape any crime because you can't go after the code, you can't make code take full responsibility when things go wrong, even developers can manipulate the code themselves and out the blame on the code, this is why I will prefer CEX where I can put blame on human and if the humans have a reputation to protect they will refund any fund loses

[Psynthax]

The code part belongs to DEX right? But isn't DEX built by humans? What code are we talking about? There is no difference between centralized and decentralized exchanges because they are both managed by humans and they can both be tampered with in any way possible, do not be deceived by decentralized

The difference sometimes DEX being open source meaning they could be inspected or reviewed by many open source community but doesn't necessarily means decentralized exchange is safer than CEX.

However, DEX usually runs automatically without the need of human intervention but some of modern exchange are automatic aswell but with exception that some transaction may undergo human review. It all depends on how we see it tho.