/biz/ - Business & Finance

[Anonymous No.49310687]

>Goldman Sachs boomer high yield savings account
>0.85% APY on your USD
>this is considered 4x the national average for a HYSA
>meanwhile protocols like yearn, saffron, frax offer 7-8% APR on assets (including stablecoins)

give me one reason why DeFi isn't going to completely eat the world this decade

[Anonymous No.49310730]

Because it will get regulated into oblivion before it has a chance to even begin.

[Anonymous No.49310738]

>>49310687

[Anonymous No.49310742]

>>49310687
Jews own the regulators bro

[Anonymous No.49310804]

What part of "ponzi scheme" you still didnt understood yet?
You really think they will give 7% to everyone when dozens of millions start to use these shit coins?

[Anonymous No.49310841]

>>49310730

Except a lot of major DeFi players like Bancor, Saffron Finance - hell even exchanges like Celsius - have aggressively been getting politically involved and are joining US trade associations. Saffron and Bancor are both members of the Chamber of Digital Commerce and they went and spoke with regulators from the SEC/CFTC. Saffron even did a retrospect on the event and even admitted how many staffers/regulators are open to this tech and wanting to spur more innovation in the sector.

>>49310738

This little goblin may be the chairman but he's

A. just the chairman and more and more people are recognizing that this is a sovereign issue
B. the boomers in charge aren't even sure that the SEC isn't overstepping its authority and his sentiment is unanimous even in his own department


Yes, some shady ponzis will get regulated out of existence but the players that are actively participating in the US political process are gaining momentum and at BARE minimum will be integrated into the current financial system as it evolves this decade. You'd be a fool to not have bags of these

[Anonymous No.49310951]

>Saffron even did a retrospect on the event and even admitted how many staffers/regulators are open to this tech and wanting to spur more innovation in the sector.

What does any of this mean though? where is this restrospective? Is this promising or troubling? Its actually hard to tell sometimes whether regulation is good or bad. Seems like SMART regulation would be ideal.

[Anonymous No.49310965]

Most DeFi protocols will get destroyed. Have you seen the OpenSea charges filed today? Not a good look. Those who aren't prepared are toast.

[Anonymous No.49311037]

>>49310804
yes
competition pretty much guarantees it
consider both what this technology does, and exactly how much central banks get away with and to what degree they get away with it

[Anonymous No.49311254]

>>49310951

Here's the summary, it seems that they're incredibly bullish after meeting in DC with a bunch of senators/regulators even though the author admits it may still be rough waters this year

https://medium.com/saffron-finance/saffron-weekly-05-27-22-1dd1a610c05c

But at like $70 a token this project is a steal right now, I'm accumulating SFI and BNT primarily

[Anonymous No.49311285]

>>49310804
I'd say >>49311037 is on the money. The truth is that these banks can give much higher yields if they really wanted to and still be profitable but they've conditioned booemrs to just accept it. The flood gates have been more or less opened now and competition will drive exchanges and protocols to keep rates somewhat competitive

[Anonymous No.49311402]

There's honestly so much untapped alpha in these 70 views medium posts and YouTube videos. You have to be willing to spend the time to find it though and still take the risk that the whole sector doesn't get nuked. This was a lot more effective during the bull market.

[Anonymous No.49311449]

>>6Crd3ZNv what were they charged for? How is it related to DeFi?

[Anonymous No.49311600]

>>49310687
>ynr LUNA offered 20% APR

[Anonymous No.49311682]

https://twitter.com/watcherguru/status/1532070560150470656

[Anonymous No.49311711]

>>49311600

checked and one of the reasons why I never got into LUNA, every single defi protocol that i mentioned above literally never ventured much higher than 8-10% and along comes this protocol that is just casually offering *double* that?

yeah ok

[Anonymous No.49311718]

>>49310804

It's not a ponzi scheme, you just don't understand and don't want to understand.

[Anonymous No.49311745]

>interest rates on loans jump by 2-3%
>interest rates on savings accounts go up by like .1%
I can't imagine why a system in which banks hoover up whatever they can without ever giving anything back is on the verge of collapsing. It's not like society requires people to actually believe in its rules to exist.

[Anonymous No.49311761]

>>49310730
>>49310687
Most defi schemes are literally ponzis vulnerable to massive collapses. Interest rates on savings accounts are retardedly low for what they are, but many defi schemes have retardedly high rates that aren't sustainable.

[Anonymous No.49311810]

>>49311285
>conditioned
I bet you fell for the "don't vote it doesn't matter" meme. Society has been generationally divided by the boomers, deliberately. Most institutions exist to cater to them and are run by them and they vote in other boomers and react shittily every time they aren't 100% being catered to.

Savings account rates were 20% in 1982 under the GI generation. Boomers skullfucked savings accounts to pump their housing/investment accounts with inflation because they- their entire lives- have lived by the mantra 'i got mine'. There are people on this website who don't truly understand how boomers have as a generation doomed everyone to shitty lives that came after them. It really was a massive smash and grab of what should have belonged to future people and given to the boomers.

[Anonymous No.49312877]

>>49311810
anon should win an award for this post. i can taste the boomers skull fucking my savings account!