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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 lon
by woah 6y ago
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.
- TheColorYellow 6y agoThis 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...
- capnorange 6y agohow about getting a higher interest on your savings account using defi on your usdc? Isn't this a real world use case?
- woah 6y agoThat'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.
- capnorange 6y agoThe 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.
- Benmcdonald__ 6y agoAgree on all point. Especially with Ethereums great innovations in marketing. Sadly their technical innovations are lacking beyond smoke and mirrors