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Why does the "Decentral Bank" have safeguards and ways to modify "immutable" constructs just like any other web3/DeFi project then? The financial system is the
by Mo3 4y ago
Why does the "Decentral Bank" have safeguards and ways to modify "immutable" constructs just like any other web3/DeFi project then?
The financial system is the way it is for a reason, and crypto is not some sort of revolutionary unicorn that noone has ever thought of before teenagers wanted to buy ape pictures. Yeah, proof of ownership is cool and stuff. Meanwhile almost the whole of DeFi and Web3 is even running counter to the very core philosophy of cryptocurrency and/or decentralisation… and this comes from an early Bitcoin evangelist. I’m truly starting to believe that the crypto “investors” nowadays are the only ones not understanding this “new asset class” that for some reason is 14 years old and has CME futures. You’re not even playing with safety off, you just strapped a black stock market to a blockchain, handed the safety to amateurs and criminals and are playing with regulation off.
But yeah, the stupid nonbelievers, that’s why volatility must be present. First of all, what’s happening to DeFi isn’t volatility, and secondly I’ve heard that kind of reasoning before and it never ends well.