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This kind of cascading failiures are great to see, it's making the whole space move towards defi and makes it more resillent. We can only imagine if anything in
by nathias 4y ago
This kind of cascading failiures are great to see, it's making the whole space move towards defi and makes it more resillent. We can only imagine if anything in the legacy financial sector was allowed to fail this hard, how much better we would be in the long run if we werent forced to bail out banks.
- wins32767 4y agoWe'd all be vastly poorer because there would be much less capital available for future investments.
- Loughla 4y agoIs this honestly a "this extreme failure of [super common aspect of crypto] is good for crypto" argument? Or am I reading this incorrectly?
- roland35 4y agoNonl, you're reading it correctly. Apparently the more catastrophic billion dollars scams that come crashing down the better crypto will be. I am not sure if most people will have enough patience though!
- nathias 4y agoyou seem to think crypto is going away, but that isn't ever going to happen, the question is will it be completely centralized and made into a distopian nightmare fuel by states and corporations, or can we make good tools for people to resist this path
- TremendousJudge 4y agoWell, the financial crash of 1929, while resulting in some good financial regulations being enacted, also created such levels of misery and want that people ended up thinking it to be a good idea to engage in the deadliest conflict in the history of mankind. Those who survived were left scarred for the rest of their lives. I think we should be wary of trying something like that again.
- nathias 4y agoyes, and some lessons were learned, but then we stopped learning and I think it will cost us more