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Maker and Compound both support interest and borrowing which are what you'd find in a traditional bank (at much worse rates). The money laundering argument coul
by flarex 7y ago
Maker and Compound both support interest and borrowing which are what you'd find in a traditional bank (at much worse rates). The money laundering argument could be applied to anything that can't be controlled by governments. Unfortunately there are many countries where monetary policy is oppressive so Defi finance is a legitimate alternative. Just because technology can be abused doesn't mean that it shouldn't be used. See the internet etc.
- bananabreakfast 7y agoYou're completely missing the point raised though. They said there are no real uses of this technology outside of speculation and laundering and your response is that tools for speculation and laundering are useful. That's not really what the argument is here. The argument is that this technology is being touted as diverse and widely popular when it in fact is not and mostly only used in circular use cases involving itself.
- flarex 7y agoNo I just said you can use it for saving and borrowing which have nothing to do with speculation or money laundering. Also it’s impossible to tell what percentage of transactions are related to money laundering in crypto and you can’t outright dismiss legit use cases because of this.