Bitcoin Forum

When they say that fiat debt based not good...
But I know and Everybody knows Bitcoin is not solution...

Defi could be the new solution for the New economic system.
Your money can do more for you and the defi are very well together with stable coins.

I dont think that DEFI is just quick scam... I think it has some bigger meaning.

Who told you that? Do not get it wrong. Fiat are subjected to inflation. If I borrow my country's currency today, and I want to pay next year, if compared to dollar, the price would have reduced while dollar itself is also subjected to depreciation but my countries fiat is worse. The best currency I like to borrow is fiat because its value mostly likely will depreciate over time so I can pay less than what I borrowed.

Maybe you have not been scammed with DeFi project before, if you had, you will know how some DeFi projects are very risky, especially the new ones. There are some DeFi projects that are whitelisted but yet pull an exit scam, how would someone know about that? DeFi are just not secure and safe by design yet, they need more upgrade, DeFi is also not private as people think. If I am asked when next DeFi scam could possibly occur, I will choose next week if probably noth this week because it occurs too often.

 

both Defi and Bitcoin, have an equally important role in developing the economic system. bitcoin based on the blockchain network, and Defi based on the Ehtereum network.

Scam projects either from Defi or projects on behalf of Bitcoin, are very common and easy to find. although lately Defi is much more significant with the rise of scam projects.


and I personally support both of them to restore the economy. if I choose between the two, bitcoin is definitely the first choice.

To develop a new economic system, we must start from scratch, from the basic concept of who owns the means of production? How the goods allocated? Etc.
DeFi is capitalism as you own the token, nothing new. You also have this interest from lending.

If what you mean is a new monetary system, then DeFi is just like the present system. It's not decentralized. Supposed it is decentralized at the time of launch, human nature will push the system into oligarchy/monopoly (more and more concentrated over time). That's how countries and central banks formed.

DeFi is now way different from the previous altcoins bull run in ICO era, just as of recent, Compounder.finance (https://compounder.finance/) made and exit scam of $10.8 million, now tell me is this not worse than ICO maniac we once thought the freedom to financial stability.
The above is just one of the examples of how DeFi projects has exploit innocent investors, there are other cases where hackers tapped into smart contracts and move away funds made for pool.

In my opinion, we still have a long way to go if DeFi will be replacing traditional finance system (centralized systems), we need hope, trust and proper governance, not some bullshit that keep on repeating. It's painful in the ass

The deciding factor will be what actual law makers do to it. ICO bros thought they were magically exempt from that boring old law stuff because 'it's on the internet' and then the last few years have been spent slowly hunting them down and mopping them up.

There comes a point where the real world butts up against someone's idealistic pet. The real world is likely to win. Maybe the deciding factor will be how decentralised they manage to get it but even then Bitcoin is pure vanilla in comparison and they may decide it's too far out to live.

The developer believes that DeFi will be a future solution as a savings and loan mechanism.  The reason is, DeFi will continue to create new innovations that make digital financial transactions easier.  However, many projects that take advantage of this DeFi system to take advantage of themselves, and then go away.  The DeFi system has actually been in the possession of the ETH platform for a long time, it's just that it hasn't been booming like now.  whereas ETH is one of the pioneers of DeFi.  other projects just followed the existing ones

Any economic system is impossible without state or government controlled money. How can DeFi serve for that?

We can take the lending service on some defi platforms as the best example. defi has the possibility to make the traditional economy system became obsolete.

I do agree with this, i remember when there are so many people who judge the ico to be a scam thing but this time there are so many major platforms that have come from the ico.
That's having the same story as defi.

It can work in my opinion, the only problem is that we do not have a lot of special economic zones to do this experiments in financial technology, if we found a way to create experimental economic zones, I think that we can tweak it to make it work fair and just. One promising way to solve this problems is creating seasteads which are operating in international waters and from there we can try and experiment with a some theories that could improve human condition in theory.

You look too narrowly at things only within your home/neighborhood and no more.
The existence of a fully decentralized economy is physically impossible because a very large number of enterprises are connected to each other simply through a sequential production cycle. And this is not to mention the General tax base, General accounting regulations and rules, and General principles of calculation.
In your beautiful world of a decentralized economy, everyone can do whatever they want with all this, and all this will very quickly get bogged down in a wild bureaucratic avalanche of all sorts of contracts on top of contracts, conversion processes, translation of documentation from one standard to another, and so on.
The economy cannot be decentralized also because the economy is built by the state and the people in it and the economy is almost the heart of the state. Just as the heart cannot be separate from the body, so the body cannot exist without the heart (for example, a human).

DeFi is the newly accepted system after getting failure from ICO and IEO trends. Scammers use the tread to scam with people. So they still exists to destroy the DeFi system which is used Ethereum network. Nowadays CEX projects are getting attention with compared to other network. Moreover, economic model can be changed over the time based on public demand.

It's possible but should be a little regulation, the frequent exit scam and hack in DeFi space is increasingly everyday as New projects with almost the same ideas keep popping  out of now where. This beg the question, are after quick sweet profits of missing out or improving the traditional centralized system?
I believe we can do better if it's regulated.

Yeah, we'll see about that.  I know DeFi is all the rage right now, but so far I haven't seen it making any advancements over traditional finance/lending.  The only thing I see when I watch Youtube videos about DeFi is how much money people are making--and that's fine and dandy, but that doesn't mean a useful service is being provided.

And then there are all the scams revolving around DeFi which remind me of the ICO insanity.  Plagiarized whitepapers, fake team members, and all the other methods scammers used for ICOs are being employed for DeFi scams.  So I'm going to remain a skeptic as far as whether DeFi is actually going to be important, as opposed to just another get-rich-quick scheme.

Heh heh....then there's that aspect of it.

The fiat system is no good because it steals from people by allowing governments to print as much money as they want, that is why it's no good, however all of this hype about DeFi coins is just that hype and nothing more, those coins like most of the time do not offer anything that has not been present from the very beginning with bitcoin.

Bitcoin offers decentralized finances from the day it was created, every single person that has a bitcoin wallet becomes a bank and they can exchange their coins peer to peer without the need of any bank or any other third party, so if the future is actually going to be dominated by finances that are decentralized you can be sure that bitcoin is going to be a main competent of that future.

A lot of people cry foul about the fiat system because they have not made anything out of it, those people that have made fortune will not say anything bad about it. This system has been working for number of years and has sustained the world economy this far. If you look at both system, the whales still controls everything, what you want to be is to be a Whales whichever of the side you find yourself

That's true!!
Well I dont complain it just I see DEFI can bring more profit i think so

it is true that Defi is very profitable if we know the flow of its movements in the market. but not a few are trapped in it. I think it's the same, whether Defi or other crypto if you don't understand market movements will end up the same.

They need to prove them self first before trusting it by many investors .what I see in many defi project it is fully hype and high chance of loosing your money when you enter. they can also give you alot profit but only in short period time and many people already trapped investing in it so not a good option for my opinion.Other issue need to be solve them is the security how can people trust a new program if there are many hacking incident already happen many times in different project.

It's our money so security is much more important they need to work first before believing that they can be a solution for economic problem.

Yes, I never thought Defi was meaningless in the Crypto market. If it didn't make sense then the Defi projects are dead and Uniswap is not in need of trading as much as it is now.
Defi was created due to the slowness of the bank, many people need to borrow money to use in business investment but banks are too late. Their technology slowdown has affected the economy a lot and that is why the Defi project is being appreciated at the moment.
Defi is addressing the needs of the crowd and that's why a lot of money is being poured into potential Defi projects.

Im afraid defi is not small thing and its young by investing Now it could be beneficial in the Future

I don't know much about DeFi. But I saw a lot of topics about DeFi in the forum. DeFi seems to be popular, but I hope it's not a scam project.

Defi is not as secure as you thought it is. Unlike Bitcoin, Defi still needs to upgrade its design and feature. It’s more risky than btc’s nature as most of it is reported to be scam. We don’t want to invest into something we’re not sure of, aren’t we?

There are a lot of other emerging cryptocurrency possessing a potential almost the same to BTC, but always be on your guard because its security isn’t certain yet. I think its still safer to invest on btc and gold since the two already proven their worth over time. However, when it comes with the economic model, I guess fiat would still be globally used despite of its risk to inflation and deflation. Bitcoin might be next in line to fiat, but as you know, it isn’t legal in most countries yet and a lot still lack of knowledge regarding it.

I also don't believe that Defi is just a scam. Because what I see is the type of Defi kin also increasingly diverse. This shows the progress that has occurred in Defi. And Defi enthusiasts also began to arrive. I am sure Defi will be able to compete with good coins like Ethereum and Bitcoin.

defi exist for a reason and a solution but there are people that abuse and make use of the name defi to scam . this is the same as btc , btc do also has a purpose but starting btc was use in the dark market and also use on many scam schemes as payment tool people already mistaken it as a scam and its repuation were affected ,

 that is happening on defi too but the reputation of btc is being restored but defi was in critical state right now and people are leaving instead of joining .

How about this: Topic: 💩DeFi scams [history]💩  (Read 1207 times) (https://bitcointalk.org/index.php?topic=5268573.0), over 1, 207 people have read their history.

Topic: List of Defi scams  (Read 716 times) (https://bitcointalk.org/index.php?topic=5281309.0), over 716 people already saw.

for now you see, but wait a year or two to come you will see your cash box will be empty.

The reason this is indeed strong from that is the influence on DeFi which many groups of people misuse to keep earning more money, so it is impossible for DeFi to become a bigger economy like the first goal but now due to the trend so the chances of benefit are still high but don't know if this is. it's getting dimmer do they believe in DeFi anymore?
Investors already know that there are a lot of irregularities that happened that DeFi was initially good but was misused for its own purposes.

If we could somehow build the crypto world around defi features as much as we can, and have this huge community behind it that supports not just the profits they make but the idea itself as well, we could potentially see it in outside world as well.

Defi is not something that is only economy related, it could very well be something that is doable in other parts of the world and industries as well, which means as long as we get to have defi and a lot of population behind it, we are going to see defi world gradually increasing and having non-crypto stuff in it as well. Obviously this will take a lot of time, but gradual steps to take and become bigger and bigger are very important and they will definitely be bigger in few years if we support it.

Yep, I agree with your point.  As you can see, people criticized the Defi trend and criticized it as useless when the Defi top coin such as YFI, Compound, ... fell 40% deeper in just a few days.  But now you see, they praise Defi coin when many coins are profitable for them like Base, KiraNetwork, Folder Protocol.
So this is the time when Defi coin exploded, I think we should use our money to invest in Defi projects instead of holding Bitcoin with meager profits. :)

The system hasn't been working that's why there is urge to move into DeFi but don't you think the aim is defeated. We now have series of DeFi project with limited ability who boast to replace an existing plan but you will be supprise at the end of the day that the goal is just money. I'm not suprise why yearn.finance founder left the project because his aim was trash into trashcan and was never followed by the investors and team members.
Few will survive the jungle but take it that about all will die, DEGO finance that I once hope own has failed me after the price crashed.  :'( :'(

It seems regulators are already catching up. According to this thread from Brian Armstrong, there are rumors of new Fincen regulations in the works that could force KYC on Defi counterparties.

https://twitter.com/brian_armstrong/status/1331744884856741888

This could also make WBTC or stablecoins much harder to use, and could affect regular medium of exchange use cases. I'm not looking forward to seeing what comes out of this.

Volume doesn't mean it is something important for the world, the real world continues on its own even as hundred of coins reach billions in fake volume, in real-world applications all this defi madness has proven it has literally zero value or impact.


Yeah right, and how can you solve the basic problem for a starting business with defi and no banks?
I have an idea, I have an average wage that allows me to pay back a loan but I have zero collateral.
Tell me, where should I apply for a loan, at a DeFI project or a bank?


So, it's basically speculation on its price, not usage...just like all other shitcoins around.

I would expect anyone attempting to be in the finance space to be required to abide by current finance regulations, including KYC and AML.  If this renders stuff like defi untenable, that's not a big loss in my book.  From this twitter thread, points like this:  don't really sway me. Yeah, a lot of people would value privacy in all manner of their financial lives, but you're not allowed to open a bank account anonymously for some pretty good reasons. A decentralized system just isn't compatible with our society because there are too many bad people doing too many bad things, and this would be far worse without accountability.

When you say things like "the finance space" and "Defi" what are you referring to exactly? Do you think all forms of peer-to-peer finance (including 2 people engaging in an off-exchange trade, or a micro-loan, etc.) should have AML and KYC requirements attached? Traditionally these are requirements for businesses but not for casual users.

I'd like to think you and I could use a smart contract to engage in a trade or other financial transaction that benefited both of us, without being subjected to government mandated reporting. That's certainly possible with many other currencies and investment assets.

That is an ideal scenario. But the fact that these scammers are using now the DeFi hype to enter and ruin this industry, the trust from people will be destroyed also. As only few of them will emerge as successful, I don't think they can cover the needs of the large population in the future.

DeFi is indeed very popular this year, and I have also benefited from DeFi. Maybe because I have done my research first,
so I chose the right DeFi projects. But the problem is that many scammers take advantage of this situation, by creating
DeFi for personal gain. Therefore, there are so many DeFi projects that are scams nowadays, so always be careful choosing
DeFi for investment. I agree that DeFi can help the economy and make it bigger meaning, we must give DeFi an opportunity
to develop.

Defi has made a big change this year. Previously IEO and ICO served the market. Everytime something gets new into the market, the same gains importance and gives new dimension. Everytime scammers ruin the system, developing something resembling the real ones. People get to be lucky to profit out of defi, because we it is completely unpredictable. The one that is predicted doesn't grow high whereas the unexpected projects give big return on investments.

I only agree with you that every state is trying to adjust the monetary system, which does not always correspond to a sound economy. Comparison of the economy with the heart of the state is possible, but what about the heart affected by the disease of alcoholism or other objective ailments, where are the criteria that allow even the patient to strive for an objective recovery? Today, the world economy is ruled by the dollar, and tomorrow it is possible the yuan, but each of them strive for sole management with benefits, primarily for themselves, ignoring other participants in the world economy. Therefore, my opinion is that the world economy should be decentralized, the contribution to it should be adequate to the investment of each state of its GDP, and the total profitability will spread in proportion to the invested funds to all participants who agreed to participate in the new economic system. The main incentive is everyone's benefit in overall development.

I agree with you that FIAT is not the solution and should be abandoned in the long run. DEFI might be a solution but we shouldn't forget bitcoins, so many people these days know and actually use bitcoins. We should try and build up the popularity of bitcoins. DEFI doesn't look like a quick scam to me either.

And our new IPO could be ICO..
Man, there already was hype like this before. After several years everyone will forget about it

Your topic and the epistle you typed on it are erroneously passed, fiat is greater than Defi. You just want to pass a beautiful message but you lack basic comprehension, Defi are almost scam, fiat has a lot of value in econometrics than Defi.

For now the offers of DEFI is great but for what I see is different from it's real intention many scamming happened on DEFI right now and looks like it will go the same path of ICO before that's why I don't trust those things right now and never got an interest about it. So maybe I will go or trust more the traditional banking for now since there's no convincing things happened yet on my side on DEFI things.

Undoubtedly, the popularity of DeFi in the cryptocurrency market is too high and brings users quite high income. But if you look from the point of view of government policies and the influence of regulatory structures, then decentralized finance may be at risk, since no government at the present time will be able to accept such projects.

I propose to build an alternative to the existing DeFi

These are the conditions for an ideal cryptocurrency outlined in my project
https://bitcointalk.org/index.php?topic=5267705.0

1. It is available to everyone who wants to purchase it (for mining).
2. Produced at the expense of the financial resources of ETH holders.
3. It only has positive volatility, so it cannot be reset (merged).
4. Its free amount cannot exceed 10 percent of the total emission of ETH.
5. Regulates unlimited emission of ETH in the network.
6. This cryptocurrency is a symbiosis of two tokens ETH-WORLD and ETH, working in pairs and mutually compensating each other.
7. This currency cannot be controlled and only obeys simple economic law.

Congratulations on inventing the square circle with 3 corners.
Skimmed through your so-called whitepaper for your marvelous projects and I have to say you have quite the imagination.
Seriously? You have just created the token that cannot be devalued no matter what? Sorry but this contradicts point 7

I wonder when people will stop with this whole ico/defi/token craze and realize that not a single thing in this whole universe guarantees a profit and in the case of those shitcoins, it more the opposite. There is no Philosopher's stone that can turn any token into something of value just by saying an incantation, you can't defy the laws you've mentioned yourself just by designing rules in a contract.

but unfortunately the Defi system is very weak and makes a lot of money loss investors are also increasingly disappointed because almost all Defi tokens have fallen in price and it doesn't mean that the hack happened several times making the Defi Tokens price even lower Defi is actually a solution for finances but their bad system makes Investors are not too keen to enter for more profit taking and opportunities because of excessive frustration.

No joke here, if you read the entire project, and not just its excerpts, perhaps your opinion will change to the opposite. Still no one has been able to prove that I'm wrong, try it, maybe you will succeed.
http://prosh.ru/smartcontract.html (http://prosh.ru/smartcontract.html)

DeFi can indeed be a good solution for debt, especially since the CeFi system has many problems,
especially in banks, many people who can't pay make them imprisoned,
of course this makes people reluctant to loan at the bank again, and DeFi is the best solution.

According to the economic work model even if the price of defy increases, it will not be able to compete with cryptocurrencies. As cryptocurrency prices rise so do the companies in these defi projects. Cryptocurrencies are much safer than Defi and there is no fear of losing them. Many powerful currencies are not scammed defi projects have risen to prominence in the crypto market. Its companies will not be able to rise above the currency if they provide token value.

Since I posted those from your project page I most certainly read it before saying all that I said.
And I always read before posting something!


No, it's the other way around, I've read both your whitepaper and your thread, nobody will be able to prove you something because you're not listening. And the proof in that is that even here you've never bothered to prove I'm wrong you simply threw a link and claim you're always right. Let me get you a hint why I said that and quoted line number 3.  How do you achieve negative volatility? If you can't it means by default that all volatility is positive, isn't it?

But I already know by now that you won't be convinced so how about we do it the other way around?
You launch your token and prove us wrong? Oh, wait...you need other people's money for this. ;)

Dear opponent, volatility cannot be positive or negative.
By the term negative volatility, I meant that the direction of the price vector can only go up or equal to zero, but never down. I coined the term negative volatility as a marketing ploy that draws attention to the problem of solving my project. Almost all participants rushed to defend volatility without paying attention to the project itself. The project itself solves the problem of making a crypto currency not only as a tool for traders playing on the stock exchange, but also as a reliable decentralized investment vehicle that is not subject to devaluation. Very few people paid attention to this aspect of the project. There is not a word about negative volatility in the project itself, so I told you to go to the source and show at which point in the project you found it.
As for the launch of the project, money is needed only for the development of the project itself.
Project extract http://prosh.ru/smartcontract.html
27. The project is completely lacking any regulator. The main advantage of the project is that ETH owners manage their financial assets without sending them anywhere other than their addresses connected to the smart contract, or only for the necessary initial connection, and also if they only need ETH-WORLD tokens.

Volatility is always positive, it is represented by a positive value from zero to infinity.
If not, then you're talking again about your own invention.


Just what I was saying, you're inventing terms to try and picture in a different light something, hiding behind definitions.
The square with three corners that's actually a circle I mentioned earlier.


add to that, "in theory" because of this:


this will happen only on paper, not in the real world. And stop telling me to read your article, yes I did it and it was a waste of time, how many times do you think people have come with the same idea? Do you think you have invented something revolutionary? Nope, tokens like yours have been already been issued and some have already failed.
But prove me wrong, launch your bulletproof way of never losing money, succeed where other messiahs have failed.

http://prosh.ru/smartcontract.html
38. When creating this project, I did not initially set myself the task of repeating BITCOIN or something similar. I was looking for solutions to preserve financial assets in crypto currency. With any volatility in ETH, the ETH-WORLD asset grows. The maximum amount of the deposit, I suppose, will issue 80-85 million ETH-WORLD smart contract tokens, which means there are only 8-8.5 million free tokens, while the smart contract deposit volume will be only 50-60% of the total amount of all ETH.
If you can refute this by supporting your arguments with calculations, I will be grateful to you.

The existing DeFi Financial System, which is based on a manually controlled monetary system based on the exchange rate value of the dollar, which is exposed to the risks of losing financial assets in the event of large and sharp negative volatility of ETH, cannot be a completely reliable financial decentralized instrument.

I've highlighted the part that will go wrong.

Your idea is not new it's not revolutionary it's not even new in the fiat world, you think that locking coins would mean decreased volatility and thus it will increase the price but that things don't work, your whole idea is an increased deflation but not counting you are creating inflation with the rise in the price of your so-called safe token.
As I said, it works on paper but it doesn't work in reality, that's why makerdao who were one of the first to come with an idea about stability had to adjust their whole plan, yours is similar to SAI, read their whitepaper and you will understand why the whole burning and creating tokens for stability plan was abandoned in favor of a stable coin pegging.

Anyhow, this is not going anywhere, strat your token and you'll be able to come and laugh in my face once you succeed.
But I wonder how will you manage to do when a hundred others have had and tried to apply the same idea and failed.

You wrote a lot of words about nothing, where is the specifics? You write inflation, deflation, prove your specific examples from what you draw your conclusions. Economics requires accuracy in calculations, in place of this you yourself laugh in my face, avoiding the facts of evidence. You don't even understand what you have highlighted in bold where the calculations come from and why ETH-WORLD tokens cannot be devalued. If you can refute this by supporting your arguments with calculations, I will be grateful to you.

The most successful countries with a good level of development are either absolutely giants, like China or the United States, or the European Union, which unites dozens of countries in one economic zone.
Decentralized development is when your neighbor has a stick made of metal, and you still have a wooden one. Yes, these are different things in composition, but they are essentially common. No large-scale projects have yet appeared through the efforts of only one state, they are all created in the union and mutually beneficial support. If all this were decentralized-only on one process of exchange, conversion and bringing to a common buffer whole of money, humanity would finish its large-scale projects, because this would cause an endless and endless bureaucracy.

You are the first who saw in my project a possible decentralized clipboard from a centralized currency to a decentralized one on a national scale. I do not agree with you about the bureaucracy, it can exist only through centralized management.

Project excerpt
http://prosh.ru/smartcontract.html
37. In a world where there are negative rates on deposits, there can be no successful development of the economy, so I am sure this platform will be in demand by banking businesses. The smart contract allows the owners of the ETH deposit, together with the financial sector (banks, funds, insurance companies, exchanges), to manage the entire cryptocurrency market. ETH-WORLD tokens backed by ETH this can be (a new single world currency under the code name Phoenix, which The Economist wrote about in 1988, issue 306) https://cont.ws/@infobazasm/812374 This currency cannot be controlled and to regulate it obeys only a simple economic law.

i will not agree that negative rate is negative.
A positive deposit rate encourages savings among the population, which can eventually lead to a sharp increase in inflation in the future due to the release of a large number of these most accumulated money into circulation.
A negative rate, on the other hand, encourages spending here and now or curbs inflation by not allowing it to go as fast as it could. Any spending" in the moment " stimulates the general economic background and positive development, as any accumulation stimulates the printing of money to provide the economy with a stable money supply. just the same hoarding and the desire for it is the same "fiat bubble" about which everyone says so, but not vice versa.

Everything that you have described on the account of saving savings and inflation applies to Fiat fairly, but this does not mean that this is the only correct decision to develop the economy. Currently, under the flag of DeFi, they want to transfer the same principle to cryptocurrency, completely repeating the same mistakes, creating cryptocurrency bubbles. Currently, in the crypto-currency world there is not a single solution for the preservation and lending of cryptocurrency (financial assets) that does not depend on the speculative rate of BITCOIN, managed by its main owners and who benefit from its controlled volatility. I solve this problem in my project. Preservation of financial assets in cryptocurrency does not create a financial bubble, but on the contrary reduces the mass of unused assets in circulation by transforming them into ETH-WORLD cryptocurrency that cannot be devalued.

A world where DeFi is the new economics would be one where there is no such thing as government, because I don’t think the government would be there and not want to be in charge of controlling the economical aspects of things. What makes them the government if they are not going to be in charge? You should learn about DeFi , it is different, it means decentralized finance and anything that’s decentralized is the opposite of what the government wants, which is centralization.

So, you see one of the reasons why this your thoughts are not possible. Unless it’s going to be a completely free world where anyone can do whatever they want, if not, that’s not going to happen.

DeFi and Bitcoin are good for me because I have already been testing them for a year. I live in a country with high inflation and both have worked perfectly. I have been able to live day to day with crypto. Not paying directly with bitcoin for my goods and services but by exchanging them in the P2P exchanges but only those I need for each occasion.
What were my results?
I bought my first SmartPhone and Tablet that I would never buy with the income of my local currency, being a country with high inflation, when you want to save is almost impossible. But I did it by investing in crypto in a Staking program and that's where DeFi participates. While Bitcoin allowed me to get ahead in my country with a depreciated economy and also with the difficult situation of the pandemic that still afflicts us around the world.

You are wrong, if you read my project, you will see that….
Project extract http://prosh.ru/smartcontract.html
27. The project completely lacks any regulator. The main advantage of the project is that ETH owners manage their financial assets without sending them anywhere other than their addresses connected to the smart contract, or only for the necessary initial connection, and also if they only need ETH-WORLD tokens.

We can't know is defi based economy will eventually work out until we try it.
But I just don't believe any country could decide to switch to defi like cold turkey.
It must be a gentle process with constant supervision

One way or another, the state "machine" cannot afford to give people complete independence. By any means, passing certain laws, they will do everything possible to control the incomes and expenses of citizens, while hiding behind various reasons, such as fighting corruption or money laundering.

Yes, Defi 20 Century Technology DeFi is utilizing implemented using blockchain ecosystem will provide the user with full control of their assets. It will add transparency stabilization and efficiencies to global finance.deFi also referred to Open finance is ecosystem.

You are right if the state does not have leverage on its taxpayers directly, it will find other legal options for levying taxes.