Quote from: pooya87 on Today at 05:28:46 AM

Quote from: larry_vw_1955 on Today at 03:57:28 AM

Quote from: DooMAD on March 21, 2024, 01:57:14 PM

Aging myself here, but does anyone else remember a time when DeFi was meant to accomplish disrupting legitimate industries such as notary services, remittances, etc?

i can't quite recall back that far but i do remember how they used to proclaim how "defi" was going to save the "unbanked". imagine that. someone that doesn't even have a bank account, did that ever make sense how they would suddenly be able to transact on an expensive blockchain called ethereum just so they could do what? no one even takes ethereum as payment in the real world so there's that...but someone that doesn't even have a bank account probably doesn't even have a phone because there's tons of bank accounts you can sign up with BY PHONE...and actually use to buy things from places. unlike with ethereum.

It all comes down to how you define Decentralized Finance. You could put Bitcoin and what it offers under the category of "Decentralized Finance" and it does offer a solution for the "unbanked". The problem is when these days people talk about "Decentralized Finance" they are referring to the DeFi token creation hype where they create an utterly useless token on a token creation platform like ethereum and pump and dump it. That's not Decentralized Finance at all! That's more like selling dog poop in a pretty bag!

But can dog poop in a pretty bag make one Bitcoin grow to two Bitcoin? Sometimes when an opportunity comes to earn using dormant capital merely stored in a wallet, we should probably take some risk, no? Bitcoin "DeFi" from Asia might be the largest narrative for Bitcoin this cycle. If the price surges to $100,000, what's the next prediction? $500,000? I will merely wash my hands after picking up then selling the dog poop.