2 ms·
Agreed. That said, I'm not afraid to talk about some aspects of crypto here and I think it is worth pushing against the few noisy profiles that are so strongly
by latchkey 4y ago
Agreed. That said, I'm not afraid to talk about some aspects of crypto here and I think it is worth pushing against the few noisy profiles that are so strongly anti-crypto. I just have to word things in a way that I'm speaking about facts and not trying to directly shill something, which I'm honestly not.
This comment I made recently might shed some light on what I'm talking about...
https://news.ycombinator.com/item?id=35918310 https://news.ycombinator.com/item?id=35918310
It is possible to lend wrapped bitcoin as collateral, borrow against it and then re-lend out that borrowed thing (or use it to provide liquidity). Essentially enabling one to use that bitcoin "investment" to work for you instead of just being a shiny pet rock that HN loves to hate on. This is part of 'being your own bank' and a way to move away from the traditional banking system into something more decentralized.
DeFi is also why I say that the biggest threat to bitcoin is wrapped bitcoin. =) I haven't touched the actual bitcoin chain, in years. Given that other chains, which support wrapped bitcoin, now use a fraction of the energy they did previously (proof of stake), it makes the ESG arguments around bitcoin itself, go out the window.