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There is about 80 billion being used in defi right now and growing, I'd say that they are "doing finance" pretty well. The scams are outliers, comparable to th

There is about 80 billion being used in defi right now and growing, I'd say that they are "doing finance" pretty well. The scams are outliers, comparable to the number of scams pulled over the internet in general. Calling them kids is just rude, save your ad hominem attacks for another site.

lottin 5y ago
That's a lot of money being used in defi (whatever that means) but do you have a single example of financing through defi? Financing means providing borrowers with resources (such as money) that they don't already have. I think you'll have a hard time finding examples, because it turns out financing requires the ability to seize assets from a defaulting borrower, an ability which defi lacks.
- diamond559 5y ago
  That's just untrue, all borrowers from defi apps are required to be overcollateralized. The ability to pull from their collateral in case of a default is built into the smart contract.
  - lottin 5y ago
    Of course, but that's not financing. If they post more collateral than the amount they're borrowing, the net amount borrowed is < 0.