Our new economic model could be defi

[cryptoboss2020]

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.

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[Charles-Tim]

When they say that fiat debt based not good...

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.

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

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.

[Sterbens]

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.

 

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.

[mu_enrico]

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.

[Dragonfund]

DeFi is now way different from the previous altcoins bull run in ICO era, just as of recent, 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

[gentlemand]

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.

[marcous]

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

[rollingdice]

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

[shinratensei_]

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.

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

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.

[Lorence.xD]

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.

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.

[bits4books]

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).

[Swopon]

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.

[Princejebs]

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

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.

[The Sceptical Chymist]

DeFi is now way different from the previous altcoins bull run in ICO era

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.

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.

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

[wxa7115]

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.

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.

[jacafbiz]

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

[cryptoboss2020]

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

[Sterbens]

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.

[Rodeo02]

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.

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.

[Harriti]

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.

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.