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It's a question of how the narrative could be spun. I think Iran its much easier to spin as "big western imperial power doing imperial things," and while that might be true in Russia it's much harder to explain away given that Russian troops are on foreign soil.

Yeah that's true. Although I think defi eventually evolves only over collaterlized loans. One basic issue is that it locks out those without capital from borrowing. That means we can't make defi loans as accessible as they should be. ofc uncollateralized loans are really just collaterlized by...

a lot of Bitcoiners in 2019 had the same critique of defi you have. but so far history has vindicated defi. defi has suffered massive market drawdowns, blackswans, forced cascading liquidations, but has always bounced back and proved itself resilient. Its quite remarkable, the volatility of...

this is wrong. the market for the securities were opaque, and our reputation based rating agencies failed us. The opaqueness meant that we had no idea what kind of liabilities firms owed each other. but on defi, liabilites and risk are A) managed programmatically and B) publicly verifiable...

Heres a quote, "Computational integrity is a property that is required for financial transactions on the Internet. Computational integrity means that the output of a certain computation is correct. If I deposit money into my bank, my bank sends me a number that represents the new balance in my...

Cmon @vimothy we need a good critic

thread has devolved into parallel play again

Yes lol. I've got friends in fin-tech and it's a nightmare. you have to understand banks are running software that is decades old all tard fi infra is super outdated.

Nah, you need to pay to deploy. Although if you deploy on l2 or some other chain it's very cheap

Yeah. Rari capital was founded by some 16 years old I think

Unfortunately, they try to apply skeumorphic regulation principles to defi and are antagonist to the whole space in general. calling everything a security etc instead of setting up some kind of sensible framework for the shilling of tokens

regulators dropped the ball on this one. Celebrities running pumps and dumps abusing their followers lack of IQ is disgusting to see

This is wrong however.there are really smart people working in the space. People who want to do good things, "slay moloch" etc etc.

You are not wrong

To be more concrete, we can think of loans in defi. CDP's and loans can all be transparently verified as having sufficient collateral and and in good standing. In grad fi this infor is locked away, it's much more opaque.

See pic related in one of my earlier replies. traditional finance has no programmatic way of ensuring computational integrity. Even regulation etc could be automated and done via zero knowledge proofs. At a high level, "costs" are associated with the need for trust

Can you explain, just woke up and am a little slow right now and not understanding

Sorry is this an argument?

You are misunderstanding. I'm not talking about a project, I'm talking about funding projects and people trading risk generally speaking. Futures contracts provide a way for farmers and manufacturers to trade their price risks with each other or with speculators. This is a good thing. lowering...

In terms of cost, it's pretty much deducible by first principles. Marginal cost for protocols tend towards zero, and since they are open source rent extracted tends towards zero.