Quote from: pooya87 on April 02, 2024, 05:28:46 AM

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".

i don't think bitcoin was designed to help people who were having difficulty because they were unable to get a traditional bank account. it will never replace that. pretty much no one takes bitcoin as payment...so for someone to think that bitcoin is the solution to them not having a bank account, all they are going to have is a private key on a piece of paper or some trezor but if they can't verify their ID and things like then no one is going to touch them with a 10 foot pole. including p2p exhcangers. because most p2p is not done face to face. unless they can find someone like that then they are stuck with bitcoin without a way to use it.

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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!

hopefully that misleading term "defi" goes away since all it is really is a gateway word to scamming people that don't realize there is no such thing as them being their own bank and making 15% on top of that. Shocked