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Comment by woah | Hacker News Reader

There still isn't a lot of real-world use of crypto. Even all the DeFi stuff on Ethereum, while innovative, is derivatives on speculative crypto assets.

As long as speculation is the main thing going on in crypto, BTC is king, since it is purely speculative, has the best name recognition, and doesn't try to hide that fact.

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This is a big deal to me. I'm watching keenly to see when the crypto market makes the turn out of niche market space and into the mainstream. Perhaps Eth2 is one of the starting blocks that is needed...

Agree on all point. Especially with Ethereums great innovations in marketing. Sadly their technical innovations are lacking beyond smoke and mirrors

how about getting a higher interest on your savings account using defi on your usdc? Isn't this a real world use case?

That's as much of a use case as "get rich from dogecoin". Both of them are based on speculation. The "high interest" is just a derivative that shapes the speculation a certain way. Underlying it is still people speculating on cryptocurrency.

It's different from a conventional bank account, because there the returns are (theoretically) coming from the bank loaning it to entrepreneurs to buy factory and farming equipment and create value.

The difference from "get rich from dogecoin" is that there is no downside(aside from smart contract risk).

You could however be morally against earning interest through others speculating. In that case you could still earn better interest by just by being USDC-sUSD LP on curve.fi.

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