“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,…
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, 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)
—————————-
“money 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 hard‐earned wealth for sale in exchange for something easy to produce.”
― Saifedean Ammous
Learn more about your ad choices. Visit megaphone.fm/adchoices
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
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 bitcoin’s 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…
Read More“As the Web became much more complex, we now engage with multiple companies for each of those functions. Including all the writing, editing, commenting, revising, and so on, even a simple post like this one will involve the services of a few ISPs, a few email providers, a few cloud storage platforms, a few cloud…
Read More“The primary work undertaken by thieves to maintain their systems of thievery is manipulation. Deceit and lies are the tools of the trade for the thief. And there is no grander system of theft than the debt based monetary system of the US dollar, enforced under deadly monopoly powers and perverse amounts of public manipulation.”…
Read More“They used to own everything, and in a way they still do; the media, the banks, the NGOs, the international organizations, and almost all the governments and corporations in the world. And with that, of course, they also own the armies, the loans, the money supply, the credit ratings, the narrative, the propaganda, the factories,…
Read More
“These two jobs are almost always in tension. Any added protection to keep a bad actor out adds a risk that it may also trip up the owner, and any new backup or alternative way to access creates a new potential security hole.” – @max_guise Today we dive into a practical piece on how to…
Read More“I will start with the conclusion: my piece failed. Nothing has changed. DeFi-driven blowups have continued. Therefore, in the strongest possible terms, I repeat, with humility: do not invest in non-Bitcoin crypto. Do not invest in non-Bitcoin DeFi. This is why NYDIG is a bitcoin company. Always has been, always will be.” – Ross Stevens…
Read More
“I will start with the conclusion: my piece failed. Nothing has changed. DeFi-driven blowups have continued. Therefore, in the strongest possible terms, I repeat, with humility: do not invest in non-Bitcoin crypto. Do not invest in non-Bitcoin DeFi. This is why NYDIG is a bitcoin company. Always has been, always will be.” – Ross Stevens
Today we take a short dive down the FTX and Alameda rabbit hole with an article put out from NYDIG and Stone Ridge that prefaces the situation with a call to action for those in the space, and then is followed by a breakdown of the events and what we know so far from Greg Cipolaro. If you are wondering what has been going on in crypto, this is a good place to start.
Check out the mentioned article below written 6 months ago on the risks and potential failures of crypto and Defi with the incredible piece co-authored by Ross Stevens, Nic Carter, & Allen Farrington:
https://nydig.com/on-impossible-things-before-breakfast
Check out the original shareholder letter at the link below:
https://nydig.com/research/through-the-looking-glass-the-ftx-and-alameda-saga
Dont 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 5% off everything in the store! (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)
—————————-
“It is always from a minority acting in ways different from what the majority would prescribe that the majority in the end learns to do better.” – F.A. Hayek
Learn more about your ad choices. Visit megaphone.fm/adchoices
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Read MoreTo receive ongoing updates and notifications on new episodes, please sign up to our Newsletter and we’ll make sure to keep you in the loop!
Tusant is a powerful WordPress theme for podcast & music streaming.
Alone, and feel the charm of existence in of souls like mine. I am so happy, my dear friend.
Recent Comments