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> Note: not picking on this guy, because when this video was recorded these apps and DeFi didn't exist. But I am critiquing anyone who still agrees with him in

> Note: not picking on this guy, because when this video was recorded these apps and DeFi didn't exist. But I am critiquing anyone who still agrees with him in 2022. Finance is not a product. In every society in human history finance came way after companies making products and services. Blockchains and crypto have been around for 12 years and could not find a usage which isn't speculation, swapping assets or some variation of that. The guys who tried to use blockchain for real world products such as "THE_DAO" guys who were gonna use it for smart locks ended up in smoke. Same for those who wanted to track food, luggage, containers and essentially everybody who tried to apply blockchain to the real world. Those who didn't end up in smoke are losing money (literally) or in terms of opportunity cost because a blockchain is inferior to a database and doesn't solve the main problems of garbage_in garbage_out as well as how true the data input is. If you are using a sensor you'd still be relying on the validity and integrity of the sensor, so at that point why not use a database? Of course I only say these things on here, out there in the real world I act like Blockchain is the second coming because in SV truth doesn't matter anymore, if you don't have irrational exhuberance about anything and everything and don't drink the kool-aid produced by cult members of Tesla, Bitcoin and Ethereum then you are not allowed with the in_crowd. On the bright side it enabled me to polish my acting skills. > Another unimaginative researcher Every person who doesn't drink the kool-aid = unimaginative Next on the setlist if I remember correctly there are attacks on evil shortsellers.

TimJRobinson 4y ago
If you don't understand the value of finance then of course you're not going to understand the value in decentralized finance. Finance is still a multi trillion dollar industry, and will continue to grow and be useful to millions of people regardless of your opinion.
- McLaren_Ferrari 4y ago
  Right...what is the revenue of Uniswap? Zero, because the point is not to make revenues but to bake in any form of perceived utility into the appreciation of a token. Again only use is speculation Also how many lives would be disrupted if Uniswap disappeared tomorrow? None, those who hang out on there would simply download Robinhood go to Vegas to satisfy their need to bet compulsively What if Exxon, Shell, Microsoft, Walmart or Amazon disappeared overnight? What about Xiaomi a company founded in 2010 , 2 years after BTC whitepaper? If your goal is to make revenue and improve the quality of life of people 10 years are a whole lot to get somewhere and have your product become a vital improvement in their lives. Crypto got nowhere in therm of real world use because the goal was never to make a difference in the real world. It's all about pumps and dumps, hype, kool-aid and build virtual casinos for compulsive gamblers. The goalposts of adoption are always moved into the future because as long as there is the hope of adoption the general perception is that people will come flowing into the ecosystem in the hope of striking it rich. Just like Tesla. If you ask people it's a startup, in reality it's a 22 years old company. Standard Oil managed to achieve total domination in the oil business and be broken up by the govt. in the same timeframe and we are talking about the 1800s
  - TimJRobinson 4y ago
    > Right...what is the revenue of Uniswap? > Zero, because the point is not to make revenues but to bake in any form of perceived utility into the appreciation of a token. Again only use is speculation Uniswap has an annual run rate of over $1 Billion. It's one of the fastest growing startups in history. But why let facts get in the way of opinions? I'm sure in your fantasy land where everyone does exactly as you want them to everything will be perfect and no resources will be wasted.
    - McLaren_Ferrari 4y ago
      The bitcoin network generates fees too. Doesn't make that a form of revenue though. By the same token an insurance company doesn't treat the premium taken in as revenue, it becomes listed as Asset under management. Revenue is when the consumer buys something from a company and it improves their quality of life. Like buying a 10 gallons of gas from Exxon. It is very direct, straightforward and most importantly it's an exchange of money for a good or service, not asset for asset, loans, RePo or any other form of financial engineering, all that stuff comes after commerce, not before and is listed under capital/trading gains, not revenue
      - TimJRobinson 4y ago
        That $1B is money directly going to Uniswap and liquidity providers. They do over $1B in volume PER DAY and from that change a ~0.3% fee. You should really google this stuff and challenge your assumptions rather than assuming.

TimJRobinson 4y ago

If you don't understand the value of finance then of course you're not going to understand the value in decentralized finance. Finance is still a multi trillion dollar industry, and will continue to grow and be useful to millions of people regardless of your opinion.

McLaren_Ferrari 4y ago
Right...what is the revenue of Uniswap? Zero, because the point is not to make revenues but to bake in any form of perceived utility into the appreciation of a token. Again only use is speculation Also how many lives would be disrupted if Uniswap disappeared tomorrow? None, those who hang out on there would simply download Robinhood go to Vegas to satisfy their need to bet compulsively What if Exxon, Shell, Microsoft, Walmart or Amazon disappeared overnight? What about Xiaomi a company founded in 2010 , 2 years after BTC whitepaper? If your goal is to make revenue and improve the quality of life of people 10 years are a whole lot to get somewhere and have your product become a vital improvement in their lives. Crypto got nowhere in therm of real world use because the goal was never to make a difference in the real world. It's all about pumps and dumps, hype, kool-aid and build virtual casinos for compulsive gamblers. The goalposts of adoption are always moved into the future because as long as there is the hope of adoption the general perception is that people will come flowing into the ecosystem in the hope of striking it rich. Just like Tesla. If you ask people it's a startup, in reality it's a 22 years old company. Standard Oil managed to achieve total domination in the oil business and be broken up by the govt. in the same timeframe and we are talking about the 1800s
- TimJRobinson 4y ago
  > Right...what is the revenue of Uniswap? > Zero, because the point is not to make revenues but to bake in any form of perceived utility into the appreciation of a token. Again only use is speculation Uniswap has an annual run rate of over $1 Billion. It's one of the fastest growing startups in history. But why let facts get in the way of opinions? I'm sure in your fantasy land where everyone does exactly as you want them to everything will be perfect and no resources will be wasted.
  - McLaren_Ferrari 4y ago
    The bitcoin network generates fees too. Doesn't make that a form of revenue though. By the same token an insurance company doesn't treat the premium taken in as revenue, it becomes listed as Asset under management. Revenue is when the consumer buys something from a company and it improves their quality of life. Like buying a 10 gallons of gas from Exxon. It is very direct, straightforward and most importantly it's an exchange of money for a good or service, not asset for asset, loans, RePo or any other form of financial engineering, all that stuff comes after commerce, not before and is listed under capital/trading gains, not revenue
    - TimJRobinson 4y ago
      That $1B is money directly going to Uniswap and liquidity providers. They do over $1B in volume PER DAY and from that change a ~0.3% fee. You should really google this stuff and challenge your assumptions rather than assuming.