Sure thing! Theres a lot of collateralized lending in crypto, that's finance. There is also some uncollateralized lending, that's finance too. There are futures and options. All of that is finance hehe.
Your entire article contradicts the promise of crypto in the first sentence: outside of govt control
do you support this promise? I read your article in a way that supposes you support 'outside of govt control'
if not, suggest to clearly state your position, bc otherwise you are clearly in favor of heavy, US style govt intervention and control. the exact thing everyone wants to prevent.
Hi, thanks for the comment! I think the debate is not between a binary world of no government regulation at all and suffocating, heavy-handed government regulation. My view on this (not discussed in this article) is that there are plenty of in-between worlds where everyone would be better off.
For instance, a world where Tether is required to have better disclosures, where algo stables cannot advertise themselves as stablecoins, where pyramid schemes are not allowed to flourish, where coinbase and others show you your cost basis, where speculative defi yields are advertized as risky, etc.
Self-regulation hasn't worked very well in crypto. So in my view, more formal government oversight seems important and necessary at this point. Another point (also not discussed in the article) is that this would be *good* for the industry, not bad. It would allow more useful projects to get funded and worked on and fewer bad projects from getting funded and worked on.
All these scams… without them how could we reasonably call it finance?
Sure thing! Theres a lot of collateralized lending in crypto, that's finance. There is also some uncollateralized lending, that's finance too. There are futures and options. All of that is finance hehe.
Lol failed troll job
Nonetheless, a fair assessment
Your entire article contradicts the promise of crypto in the first sentence: outside of govt control
do you support this promise? I read your article in a way that supposes you support 'outside of govt control'
if not, suggest to clearly state your position, bc otherwise you are clearly in favor of heavy, US style govt intervention and control. the exact thing everyone wants to prevent.
Hi, thanks for the comment! I think the debate is not between a binary world of no government regulation at all and suffocating, heavy-handed government regulation. My view on this (not discussed in this article) is that there are plenty of in-between worlds where everyone would be better off.
For instance, a world where Tether is required to have better disclosures, where algo stables cannot advertise themselves as stablecoins, where pyramid schemes are not allowed to flourish, where coinbase and others show you your cost basis, where speculative defi yields are advertized as risky, etc.
Self-regulation hasn't worked very well in crypto. So in my view, more formal government oversight seems important and necessary at this point. Another point (also not discussed in the article) is that this would be *good* for the industry, not bad. It would allow more useful projects to get funded and worked on and fewer bad projects from getting funded and worked on.