Cryptos Aping Fiat is a Trap

in crypto •  2 years ago 

Banksters love to present themselves as guardians of money - as they prudently rip you off and turn each nation into a slave economy. Somehow, someone, somewhere must believe this shit!

Stablecoin regulation could spell the beginning of the end for DeFi.

Banksters love cryptos for precisely the opposite reasons to what cryptos pretend to be - they can monitor every transaction. They will also avoid monitoring their own bankster-laundering-routes.

My solutions.

Defi, grow a spine, ditch the ponzinomics of uniswap yield pools.
Code and implement better models such as Balancer.
Create a truly algorithmic stablecoin structure to scare the shit out of the banksters.
Stop aping fiat.
Remember, you're supposed to be disruptive - not scammy.
If you love Bitcoin so much, then create more BTC-stablecoins.
Money laundering is what banks do - tell the FATF(krs) to clean their own house.
I'm sure I have more, though this seems plenty.

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  ·  2 years ago  ·  

This is moot

“If stablecoin transactions must follow the Travel Rule, centralized stablecoins basically become PayPal,” said Sovryn contributor Yago when reached for comment. “DeFi will probably bifurcate under such a scenario with some protocols becoming permissioned and others becoming more censorship resistant. Permissioned ‘DeFi’, however, is not a thing anyone needs.”

from the stablecoin article above.

BeFi = better finance
lmao

  ·  2 years ago  ·   (edited)

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