Quote from: buwaytress on Today at 09:12:39 AM

Hah! Yeah, every time someone talks about defi and finance detaching itself from traditional finance I just wonder which world they live in. Do people on defi forget newcomers still need a way to buy crypto to use defi, or that they also still need a link to traditional finance to realise their gains?

Never mind that the products and services of defi aren't even able to substitute traditional finance, let alone displace it... Defi people largely ignore the fact that those most in need of finance are less able to access defi services than traditional ones. Be it due to a lack of tools or even the technological infrastructure. Makes my eyes roll up every time someone says defi is for the people and the masses and the unbanked when clearly the only ones able to use defi are crypto able and those most benefiting are the wealthy.

People who put their money into some yield farming smart contracts need to convince themselves and others that they made a smart choice, so they keep telling everyone that DeFi the future. It's the same story as with ICO, people were telling that IPO and other funding methods are now obsolete and everyone will be launching an ICO. Fast forward, ICO is synonymous with "scam" today. I'm sure a similar fate awaits DeFi, with all the hacks and rugpulls that happen all the time.