Decentralized finance is the future, change my mind

New / Mktg bertcoin
Sep 30 36 Comments

Hit me with your best pro/anti crypto future argument 👀

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TOP 36 Comments
  • I hope it is the future. As of now I'm at a huge loss. (Bought into Bitcoin at $17k 😭)
    Sep 30 3
    • New / Mktg bertcoin
      OP
      Hands of steel, I think (hope) you’ll have it all back and then some in about a year 🥺
      Sep 30
    • Walmart silicon1
      lol keep Hodling. We’ll get there
      Sep 30
    • New fnIy15
      Lmfao
      Oct 5
  • New / Eng /dev/null/
    Governments won't allow this to happen. For real world financial system, legal system of the state need to be able to override transactions. E.g. if transaction was fraudulent you need a way for an authorized human to investigate it and reverse if necessary. Also there needs to be a way to allow courts to garnish or freeze accounts when necessary. Governments won't allow to lose control of financial system. Private currencies were popular in the beginning of 20th century in US but US government made them illigal. Crypto will follow the same fate.
    Sep 30 5
    • New / Mktg bertcoin
      OP
      gle.com/amp/s/kkkk://www.forbes.com/sites/ktorpey/2019/07/30/us-lawmakers-are-realizing-they-cant-ban-bitcoin/amp/

      Why ban it anyway? There is far more crime committed with cash than crypto. Governments just want their cut of the capital gains/tx taxes, a growing market seems like a silly thing to ban.
      Sep 30
    • New / Eng /dev/null/
      Many governments are considering banning cash. Indian ban on large banknotes was an example. Police can already seize your cash without a warrant. Crypto is more dangerous for government because if financial system shifts to crypto then governments lose control of it.
      Sep 30
    • Chase
      init 1

      Chase

      PRE
      Neuberger Berman
      init 1more
      Lose control of it? Tell that to every crypto company on the knees in front of the SEC, and all the bitcoin fanboys sitting on massive tax bills
      Oct 1
    • OP
      @init1 taxes aren’t too bad if you hodl (invest) rather than trade. ~15 rather than ~40%. And @dev/null every major exchange already has KYC in place. Governments are going to get their cut by taxing you. That’s not the point. The point is that fiat currencies are subject to the whims of central banks and governments who can freeze, seize, and devalue your funds in an instant. Is this a rampant issue in the US? No, we have the military power to force our endlessly printed Monopoly money on other countries. Elsewhere— Turkey, Venezuela, to name a few—hyperinflation crises and capital controls are very real, life-altering circumstances. Do you really think the US will get to be #1 schoolyard bully forever? Seems unlikely, and that’s really the only thing that backs the dollar.
      Oct 1
    • Chase
      init 1

      Chase

      PRE
      Neuberger Berman
      init 1more
      In the US crypto is not a security, it’s a commodity, and is taxed as such. Don’t confuse crypto for stocks here.

      To be fair, it seems like you’re well read on pro-cryptocurrency articles and books. However, I’ve read all the same books and articles and it sounds more like you’re repeating everything you’ve read rather than coming to your own analytical conclusion.

      Have you ever worked in finance or have thorough, boots on ground experience in the banking industry? If not, then you have a true bias in your information. Big picture, saying it will decentralize and world governments will lose all of their power is not a logical conclusion.
      Oct 2
  • Facebook / Biz Dev Khakis
    A solution in search of a problem
    Sep 30 1
    • OP
      Tell that to David Marcus next time you bump into him at the ‘Book
      Sep 30
  • Chase
    init 1

    Chase

    PRE
    Neuberger Berman
    init 1more
    Digital currency, like credit cards, are only useful when vendors accept them as a form of payment. If you want to “decentralize”, you’d be asking vendors to take dozens upon dozens upon dozens of digital currencies.

    In theory, sure it’s possible. In practice, I think it will expand quickly and then quickly contract back towards a centralized model of only a few, powerful, trusted digital currencies.
    Sep 30 3
    • New / Mktg bertcoin
      OP
      Cosmos is solving this - interoperable chains and DeFi projects like Compound will dominate the next wave (IMO)
      Sep 30
    • New / Mktg bertcoin
      OP
      I’m pro-“handful of the few crypto assets with real value,” as long as they’re each of fully decentralized governance 😉 miss me with the Milkcoin pls
      Sep 30
    • Credit Karma Bathroom
      Ethereum is a commodity, fuel for dApps. I’m not interested in the “cryptocurrencies” for the reasons you mention and others including Bitcoin. Bitcoin is a gamble.
      Oct 14
  • LinkedIn / Eng igotb&
    6 transactions per second versus Visa’s 1000s. Lol
    Sep 30 1
  • Amazon sPIE23
    Wrong. Central bankers and governments will never let it happen in any way that reduces their power.
    Sep 30 1
    • New / Mktg bertcoin
      OP
      Let’s be clear, the endlessly printed dollar is here to stay as long as the US remains the dominant military power. The point is more options and opportunities to redistribute wealth
      Sep 30
  • Salesforce QURe20
    It gamble not an investment
    Sep 30 1
    • Credit Karma Bathroom
      Only Ethereum is an investment since it’s the only SEC commodity.
      Oct 14
  • Pandora x0kjF
    Yes, Libra will be huge in the third world.
    Sep 30 0
  • Snagajob DnRg54
    They don't come with tanks or force projection.
    Oct 1 2
    • Meetup kqu205
      In tanks we trust
      Oct 1
    • OP
      Tanks are cool but have you heard of Cambridge Analytica?
      Oct 1
  • iCIMS / Eng bung
    It's good for gambling. Chain link gang represent.
    Sep 30 1
    • OP
      The ride from the google hype up to $4 was indeed sweet
      Sep 30
  • Meetup svk837
    Decentralized finance sounds fun until the next financial crisis and nobody can increase the money supply because there’s no central bank. Then the world plunges into the greatest depression.
    Sep 30 1
    • New / Mktg bertcoin
      OP
      Government-issued currencies will never die, but taking a Hayek POV, there’s a lot to be desired from central banking systems and their inflation practices, and competing currencies and financial systems can force them to improve while providing previously unavailable opportunities for wealth redistribution.
      Sep 30
  • Cloudflare / Eng myimouto
    The maximum tx throughput of Libra is 20x lower than a single credit card network's actual average tx rate, not enough to serve all transactions for a single major convenience store chain, and larger than the combined tx throughput of all decentralized cryptocurrencies.
    Sep 30 1
    • New / Mktg bertcoin
      OP
      @myimouto Libra is a centralized data-grabbing shitcoin. Solana blockchain, 50k tps. Solutions incoming.
      Sep 30
  • eBay eezO74
    I strongly believe Libra will be a player in the DAO world. If Libra actually pulls through govt persecution it will let the laziest of ppl use a stable currency across the entire internet. No reentering credit card numbers, or rechecking back account balances, the currency will follow you across the every site
    Sep 30 1
    • New / Mktg bertcoin
      OP
      I hate Libra, everything about it. But yes it or Celo are 100% required to get the layperson’s hands on crypto and the government to work with the space rather than against it
      Sep 30
  • LinkedIn Wiener
    I use Bitcoin to buy discount gift cards and I’m getting some amazing deals.

    But BTC is pretty slow to transfer/pay for stuff. I don’t hold more than $2K of crypto at any time.
    Sep 30 0
  • Google / Eng
    hotch

    Google Eng

    PRE
    Microsoft
    BIO
    14 yoe engineer in tech
    hotchmore
    Yes it is the future. But u cant guess in what form the disruption will happen. Cant guess who the winners/losers will look like. What time will it take.
    Bitcoin looks like the most likely winner, but who knows.
    Sep 30 0

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