“A 2014 analysis showed that the IMF had attached, on average, 20 conditions to each loan it gave out in the previous two years, a historic increase. Countries like Jamaica, Greece and Cyprus have borrowed in recent years with an average of 35 conditions each. It is worth noting that Bank and Fund conditions have…
Read MoreThere are about a million claims out there as to what blockchains are going to fix, and how NFTs are going to be used to unlock your house, and how DAOs will be used to enforce and decide laws, but what truth is there to this really? And more importantly, does a blockchain really solve…
Read More“A data-driven exploration proving that Lightning scales bitcoin payments beyond Visa and that second-layer innovation is the way.” – Stanislov Kozlovski Check out the original article at: https://bitcoinmagazine.com/technical/lighting-network-makes-bitcoin-scalable Boost Bitcoin Audible on Fountain to get the best Bitcoin podcast to the top of the leaderboards đ Don’t forget to check out our amazing sponsors: ⢅
Read MoreâThey just freelanced it,â is how one former employee characterized the decision. âHacking was the excuse, but within a few hours, pretty much everyone realized that wasnât going to hold. But no one had the guts to reverse it.â – Matt Taibbi Didn’t have time to read that whole thread on the censorship of Twitter…
Read More“We believe the core of the cultural fissure between crypto and bitcoin comes down to financialization. While the ethos of bitcoin is to definancialize, the ethos of crypto is to financialize. We repeat our characterization of this tendency from above: DeFi engages in arbitrary and automatable combinations of seigniorage, securitization, rehypothecation, and leverage. It is…
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“We believe the core of the cultural fissure between crypto and bitcoin comes down to financialization. While the ethos of bitcoin is to definancialize, the ethos of crypto is to financialize. We repeat our characterization of this tendency from above: DeFi engages in arbitrary and automatable combinations of seigniorage, securitization, rehypothecation, and leverage. It is the purest form of financialization ever conceived: the financialization of … nothing at all.” – Allen Farrington, & Anders Larson
Part 2 of the epic piece from Big Al and Allen Farrington on the conceptual, technical, and cultural failures of DeFi, and why it is, in fact, neither “decentralized,” nor “finance.” Another incredible piece for making some sense out of the insanity of crypto, especially in the wake of the FTX fraud.
If you haven’t yet listened to Part 1, do so before digging into the second half or you may be a little lost… but hey that’s just me. You do you:
https://open.spotify.com/episode/2Zf1kcS8lnrgiaMBKcs2BQ?si=d769841b092d4331
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⢠Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 10% off everything in the store until Christmas! (guyswann.com/coldcard)
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Read More“One counterargument might be that the de facto state capture of Ethereum in gradually becoming more and more OFAC compliant could, at the same time, be said to give it practical grounds to become more accepted as money via state enforcement, and more transparent than fiat currencies in traditional finance also. However, the cost is,…
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“One counterargument might be that the de facto state capture of Ethereum in gradually becoming more and more OFAC compliant could, at the same time, be said to give it practical grounds to become more accepted as money via state enforcement, and more transparent than fiat currencies in traditional finance also. However, the cost is, once again, explicitly the loss of decentralization, so whatever kind of money it is, it is not decentralized and therefore cannot contribute to credibly decentralized finance.” – Allen Farrington, & Anders Larson
Today we dive into the first half of another amazing piece on understanding both the conceptual and technical limitations of decentralized finance, as well as trying to discern what the point of decentralized finance really is, and what it might look like when we see a sustainable & capital forming version of it come to be. Let’s dive in!
Check out the original with tons of footnotes and links for digging further and verifying the claims and data shared in the piece:
https://www.uncerto.com/green-eggs-and-ham
Boost Bitcoin Audible on Fountain to get the best Bitcoin podcast to the top of the leaderboards
Don’t forget to check out our amazing sponsors:
⢠Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 10% off everything in the store until Christmas! (guyswann.com/coldcard)
⢠Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 5,000 FREE SATS at (guyswann.com/fold)
⢠The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy)
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âmoney that is easy to produce is no money at all, and easy money does not make a society richer; on the contrary, it makes it poorer by placing all its hardâearned wealth for sale in exchange for something easy to produce.â
â Saifedean Ammous
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Read More“A bitcoin full node is a certainty machine. When a user runs a full node, they are granted a level of certainty about a monetary network that no human had prior to bitcoinâs existence. Every other monetary technology is riddled with uncertainties. Bitcoin fixes this.” – Micheal Goldstein Bitstein is back with another banger of…
Read MoreOn the nature of sovereignty, the challenges of the world we live in, the fog of war that has descended upon our lives, and on the tools and systems we need (and are building) in order to ensure we will find ourselves in a future of sovereign individuals. Opting Out with Matt Hill is a…
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