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I truly don’t think DeFi is, at its heart, anti-regulation. I do think a lot of early proponents are armchair anarchists, but that’s just the scene. I think it’

by dcow 5y ago

I truly don’t think DeFi is, at its heart, anti-regulation. I do think a lot of early proponents are armchair anarchists, but that’s just the scene. I think it’s anti corruption/abuse of power by institutions too large to fail—often due to lack of meaningful regulatory political power, across the board. (You’ll probably easily find people playing with web3 dns also advocating for personal data regulations, for example.) No, software can’t fix all of the institutional and political problems, but it can present a more efficient modern system that helps generate the political clout people will need on the battlefield. We have systemic problems and no they’re not all going to go away with better software. But we need catalysts that motivate people, win hearts, and pierce through the apathetic menagerie.

supernovae 5y ago
Today there was a crypto hack that cost over 110 million because the website's cloudflare key was hacked/leaked apparently. With 0 regulation and no recourse built into crypto, one poor soul lost 50.8 million in 900 bitcoins. You're not going to replace people problems with tech. Period.
- walterbell 5y ago
  > You're not going to replace people problems with tech. Period. Sadly, there will always be people who benefit from misattribution of a people problem to tech.
- dcow 5y ago
  Right, so wouldn't it be nice if they were using an L2 sub-chain (a bank) that rolled up transactions so that this transaction could have been flagged and rejected. The need for these intermediaries to help the general public not get fucked is clear. The existing tech just kinda sucks. There's a world where the root chain is objective and transparent and distributed but where for most any practical application people interface with the chain at layer 2 and subject to any sort of social restraints and regulations they want to put in place.
  - knownjorbist 5y ago
    For tall the clamoring about the issues with Big Tech or Big Government, some HNers seem all too willing to sign over essentially everything important just because it's more convenient when those powers have a backdoor to right wrongs.
- __MatrixMan__ 5y ago
  Never say never. Whatever human problems remain after there are no more humans will probably become tech problems.

by dcow 5y ago

supernovae 5y ago

Today there was a crypto hack that cost over 110 million because the website's cloudflare key was hacked/leaked apparently. With 0 regulation and no recourse built into crypto, one poor soul lost 50.8 million in 900 bitcoins. You're not going to replace people problems with tech. Period.

walterbell 5y ago
> You're not going to replace people problems with tech. Period. Sadly, there will always be people who benefit from misattribution of a people problem to tech.
dcow 5y ago
Right, so wouldn't it be nice if they were using an L2 sub-chain (a bank) that rolled up transactions so that this transaction could have been flagged and rejected. The need for these intermediaries to help the general public not get fucked is clear. The existing tech just kinda sucks. There's a world where the root chain is objective and transparent and distributed but where for most any practical application people interface with the chain at layer 2 and subject to any sort of social restraints and regulations they want to put in place.
- knownjorbist 5y ago
  For tall the clamoring about the issues with Big Tech or Big Government, some HNers seem all too willing to sign over essentially everything important just because it's more convenient when those powers have a backdoor to right wrongs.
__MatrixMan__ 5y ago
Never say never. Whatever human problems remain after there are no more humans will probably become tech problems.