/biz/ - Business & Finance

[Anonymous No.16593480]

If you look at the way the internet has gone from an early bastion of freedom to an ultracucked corporate hellhole, and realise that the same is happening to crypto, it's a pretty dystopian vision.
The current state of DeFi is in the freedom sweet spot where it is too young to be regulated into the ground. Hackathon projects like Synful Futures and the Chainlink node Total Return Swaps are examples of basic weekend projects that signal a huge threat to the existing rules about who is allowed to create and enforce financial products.
Lots of crypto fanatics don't see the limits of this and think these new systems will just take over.
But of course they won't. Look at what happened to the internet. The only way to regulate DeFi products that are hosted on a global computer is to have consistent global regulation. The only way to have THAT is to have a form of one world government. Digital derivatives are being standardised. Global interbank messaging is being standardised.
An "efficient" market demands an interface between products that has minimal friction caused by national borders.

There is simply no way that this technology with reach maturity without 1) Ushering a new form of one world government, 2) Enslaving the entire global population to a blockchain based system of "social credit" that the elites are allowed to set the terms for, 3) Every good application of crypto being suppressed, banned or elbowed out to make way for the oppressive new system.
There is no happy ending here. There is only authoritarianism.

[Anonymous No.16593497]

What is defi

[Anonymous No.16593509]

>>16593480
what the fuck are you even talking about you fucking retarded brainlet?

the internet went downhill once every normalfaggot had access via smartphones
when it required the technical know how to fucking hook up a phone cable to your pc and boot up dial up, the brain dead zombie npcs were blocked from the internet. The internet was fine up until late myspace-facebook transition when smartphones gave access to every braindead fucktard like you

[Anonymous No.16593541]

>>16593509
Yeah and what do you think will happen once normies can actually use DeFi products with the same ease they use their current banking apps?
Call me a brainlet and then go on a tangent that doesn't contradict or even address what I said, you're dumber than the faggot who doesn't even know what defi refers to.

[Anonymous No.16593561]

>>16593541
>normies are going to use defi

normies can already use venmo fucktard it's not like having an opportunity to spend money is going to change the world in the same way the internet did.

My tangent was you are implying corporations and governments are what turned the internet to shit. No, it was phone posting.

[Anonymous No.16593576]

>>16593561
>defi is venmo
this is the state of /biz/ in the year of our lord 2019. sometimes i regret not following the oldfags to discord i just fucking hate any platform that isn't anon

[Anonymous No.16593582]

>>16593561
>phones just magically appear

[Anonymous No.16593587]

>>16593576
>dude defi is the future normies are totally competent enough to invest and do derivative trading

I'm ignoring your initial point because you're a fucking retard

>>16593582
No where did I imply this, and I'm not sure what you're trying to suggest. Smart phones weren't invented as a conspiracy to make the internet shit.

[Anonymous No.16593600]

>>16593480
what are some good examples of defi... all i see are secured loans putting btc or eth up as collateral. seems the only people who benefit are those who got into either one early.

[Anonymous No.16593607]

>>16593587
If you seriously don't think the point of DeFi is to have simple, user facing products that allow normies to do shit with their finances that they can't do now, then honestly what the fuck are you even doing in crypto.
You might as well say "Normies will never be able to build their own website it's too technical", "Normies will never be able to upload their own videos to the internet it's too technical".
To take DeFi in its current state and assume that it WON'T end up in simple consumer based products is to be so short sighted i don't know how you would ever plan to make it.

[Anonymous No.16593642]

>>16593480
Wtf op I I'd rather not fap to this image.

[Anonymous No.16593675]

>>16593480
I FUCKING TOLD THEM NOT TO USE ME IN A STUPID AD
FUCK MY FUCKING LIFE

[Anonymous No.16593817]

>>16593607
Normies are never going to trade derivatives you fucking idiot. And crypto is garbage for 90% of use cases, only interesting applications are smart contracts and supply chain management. DLT for auditing

Normies aren’t rushing to Robin Hood or index funds, and basic investing is as easy as that, if you can’t get mass adoption that way then how will you ever get it in defi?

Also the “normies” of 2017 is nowhere near the level of smartphone adoption so once again your point is retarded

Bitcoin is dog shit, it’s a nice experiment with blockchain and a good “first app” for starting innovation, but eth has far more interesting potential, and I don’t even consider it a currency. More of a share of a network for the platform because 99% of people aren’t using crypto as an actual currency, hence why the only actual crypto currency (bitcoin) is shit. No one actually spends it like money.

The internet is shit because of phone posting, not corporations, not the government.

If you were to say the governments are going to ruin defi, I would at least hear you out, but your conspiracy is retarded

[Anonymous No.16593879]

>>16593817
jesus fuck you're like a 16 year old on reddit. "BTC is old and failed" "Ethereum is promising" "Defi is just derivatives trading".
your understanding is absolutely entry level and your gains will reflect that

[Anonymous No.16593912]

>>16593879
I can't disprove your line of thinking OP. I think it's a race against time for the Eth Dapps to be truly decentalized and immutable, and then go out an market to normies. The jump to ERC20 derivates isn't that big once the backend infrasturcture in place. I already saw apps that are just a few lines of code that allow you to impelement a fiat gateway into a smartcontract. As long as the frontend is usable and provides some tangible benefit to normies, it can go widespread before the regulators even realize it's a thing.

But it does seem like most of the faggots holding crypto these days would prefer absolute draconian regulation if it meant they could exit in profit. I'm betting on the good guys winning .

[Anonymous No.16593939]

>>16593480
>corporate hellhole
Maybe you should try getting off normie social media.

[Anonymous No.16593989]

>>16593879
I never said it’s old and failed. But you cannot dispute it does fail at its purpose as a currency. You are giving no counter points bud.

Explain to me why a normalfaggot would use DeFi when they can’t even use vanguard or robin hood?

Right, you can’t, you’ll just say “hurr r*dditor” for the 10th time and provide zero substance to counter my points. It’s hard to debate an idea when you’ve literally made no point and allude to something without any actual evidence to prove it

>no corporations and governments didn’t ruin the internet, retarded phone posters did
>normies can’t use robin hood or vanguard so they’ll most certainly use an even more complicated investment tool.
>crypto has failed as money and it’s clear as no one actual transacts in BTC or even ripple, they may use it to bypass cross border payment but guess what? It goes straight back to fiat

[Anonymous No.16594009]

>>16593480
I bought in 2013, am I a crypto boomer?

[Anonymous No.16594064]

>>16594009
what month

[/hsfbg/fag No.16594078]

>>16594064
Whenever it was $600

[Anonymous No.16594086]

>>16594064
After Silk Road. When it rose to $600. Sat on a loss for awhile.

[Anonymous No.16594223]

>>16594086
yeah you're a newfag bagholder

[/hsfbg/fag No.16594232]

>>16594223
Ah ok. Glad to clear that up. Really wish I would have bought when I first heard of it.

[Anonymous No.16594238]

>>16594223
ok. Glad to clear that up. Really wish I would have bought when I first heard of it.

[Anonymous No.16594246]

>ywn be Adam who can't wait to eat 4 corn for $1

Why even live goys?

[Anonymous No.16594333]

>>16593480
That's a fair deal.

[Anonymous No.16594377]

>>16593480
There's not going to be a one world government. China is not going to cooperate with America and America is getting politically weaker, which is why it has to flex its military and sanctions muscle more and more often. That's a sign of weakness.

What's happening is the exact opposite, the world is becoming multipolar.

[Anonymous No.16594397]

Yes crypto is the final reset and mark of the beast

Buy as much as possible as low as possible

[Anonymous No.16594490]

>>16593989
Robinhood is absolutely Normie tier and one of the highest valued unicorns because it made retail trading cool for millennials

You sound stupid

[Anonymous No.16594622]

>>16594397
unironically this

been buying a metric ton of UPT and FTM over the past few weeks, comfy.

[Anonymous No.16594650]

>>16593600
Defi is the new term for smart contracts and crypto, same shit, different word.

[Anonymous No.16594719]

>>16594622
Shill me
Guide me
On upt
I beg of u sir