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The entire point of defi is to circumvent the establishment/regulation. It makes little to no sense to say "but it was attacked"... Yea, that's the fucking poin
by scoofy 4y ago
The entire point of defi is to circumvent the establishment/regulation. It makes little to no sense to say "but it was attacked"... Yea, that's the fucking point. That's why we have regulations, FDIC insurance, and reserve limits.
- pru567 4y agoGeorge soros attacked the pound in a similar manner, so you points dont exclude traditional finance. Of course, pound wasnt susceptible to a death spiral
- todorus 4y agoYou're missing the point. As these things are regulated, the holes get plugged by the authority regulating them. This is not so much the case in the crypto space. They see regulation as an ineffeciency, that needs to be disrupted Meanwhile they're discovering that these regulations were actually safeguards, and they're not solving any problem. They're just reinventing the wheels of the finance sector.