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A whole article on financial innovation, and not one mention of crypto or defi? Not even Bitcoin?
by kebman 5y ago
A whole article on financial innovation, and not one mention of crypto or defi? Not even Bitcoin?
- wiseowise 5y agoCrypto is not financial innovation.
- ghtt75 5y agoSo what type of innovation is it then?
- knownjorbist 5y agoHow can any serious person with knowledge of the subject say this with a straight face? There are entire classes of financial instruments in use today that could not exist in the tradfi ecosystem. Pretty sure that's "financial innovation".
- wiseowise 5y ago> There are entire classes of financial instruments in use today that could not exist in the tradfi ecosystem. Such as?
- apesti 5y agoFlash loans couldn’t exist in the traditional system
- knownjorbist 5y agohttps://en.wikipedia.org/wiki/Perpetual_futures https://en.wikipedia.org/wiki/Perpetual_futures
- deleted 5y ago[deleted]
- jamesshamenski 5y agoThe reason I stopped reading HN (looking deep into the mirror) is that all the smart people here generally have a negative sentiment to something that's math based. It's a head scratcher but easy for me to move on after 14-ish years of being here.
- haskellandchill 5y agoIt doesn't seem you are being very intellectually generous to the smart people who have come to different conclusions. Crypto doesn't meet my needs but I understand how someone with strong views on monetary policy, government, institutional trust, etc will see value there.
- pcwalton 5y agoNone of the objections to cryptocurrency have anything to do with the fact that it's "math based". Traditional money is also in fact based on math.
- bduerst 5y agoMaking an appeal to math doesn't mean something a well designed or even a competitive solution.
- cblconfederate 5y agomove to where?
- bigbluedots 5y agoYet you're still here commenting.
- deepvibrations 5y agoSo many people are still ignorant of the space, especially Stripe who's business will suffer if crypto really takes off. Those who say there is no innovation simply haven't looked deep enough, everyday i see cool new ideas in crypto, infact today I saw a 'streaming payments' service, so you can get your salary streamed to you constantly as opposed to a monthly payment - how cool is that?! Love all these ideas! Seems things move faster in the crypto space, as people are less concerned with formalities and processes. Sure this will lead to some big failures, like the occasional defi hack, but it also leads to brilliance in some areas, so to just say 'there's no innovation in crypto' is complete ignorance imo.
- ilammy 5y ago> you can get your salary streamed to you constantly as opposed to a monthly payment - how cool is that?! Enjoy prepping your tax returns :3