Some of us want to play with the safety off. Life is a dark forest. We pretend it isn’t with “safeguards” but they only mask its true nature.
The financial system is the way it is for a reason, and crypto is not some sort of revolutionary unicorn that noone has ever thought of before teenagers wanted to buy ape pictures. Yeah, proof of ownership is cool and stuff. Meanwhile almost the whole of DeFi and Web3 is even running counter to the very core philosophy of cryptocurrency and/or decentralisation… and this comes from an early Bitcoin evangelist. I’m truly starting to believe that the crypto “investors” nowadays are the only ones not understanding this “new asset class” that for some reason is 14 years old and has CME futures. You’re not even playing with safety off, you just strapped a black stock market to a blockchain, handed the safety to amateurs and criminals and are playing with regulation off.
But yeah, the stupid nonbelievers, that’s why volatility must be present. First of all, what’s happening to DeFi isn’t volatility, and secondly I’ve heard that kind of reasoning before and it never ends well.
Those with long LP positions in pools with exposure will take a large loss.
No bail out, some win, some lose.
Wonderful bit, great job lol
I want a world where I can buy weird powered food from hackers without the man regulating it’s contents.
Frankly, what you want is insane. The reason we have laws and regulations for food content is to avoid killing people with botulism, salmonella, E. coli, lead, mercury, arsenic, cyanide... — basically all the things people used to die of before they got sick of dealing with food-borne illnesses and poisoning and demanded regulations.
The regulations aren't even that onerous. I helped my wife start a food business, and the costs are not anything exorbitant; commercial kitchen space, testing for shelf-stability, and some local certifications. It was profitable enough for someone who is selling as a hobby, but anyone serious would buy or build a kitchen to reduce ongoing costs and boost profit.
Being decentralized is useful insofar that nobody can prevent me for entering into mutually beneficial financial relationships.
"...are of the wrong nationality." not sure what you're trying to imply there but regardless of whether you're investing through a "decentralized" investment system or "traditionally", you're still going to have to abide by the laws of the jurisdiction the company is in.
"...nobody can prevent me for entering into mutually beneficial financial relationships" and nobody can help you if the "mutually beneficial financial relationship" (which is quite a bold thing to imply) is going to turn out to be one way beneficial ;-)