A THREAD on insightful ideas on crypto shared by @rleshner:
1/
@compoundfinance has already surpassed the entire existing banking system in terms of transparency, fairness, accessibility, user empowerment (and ownership), and most importantly, interest rates.
1/
@compoundfinance has already surpassed the entire existing banking system in terms of transparency, fairness, accessibility, user empowerment (and ownership), and most importantly, interest rates.
2/
"Fintech is focused on disrupting the front end of the financial system--DeFi is focused on disrupting the back end of the financial system" @alpackaP
"Fintech is focused on disrupting the front end of the financial system--DeFi is focused on disrupting the back end of the financial system" @alpackaP
3/
My favorite part about crypto is that anyone, anywhere can become a part of it, no questions asked.
My favorite part about crypto is that anyone, anywhere can become a part of it, no questions asked.
4/
The fact that a 13 year-old in India (@robogajesh) can develop a DeFi application should be the most jaw-dropping, come to Jesus moment you need to realize how INSANE the potential of crypto is.
The fact that a 13 year-old in India (@robogajesh) can develop a DeFi application should be the most jaw-dropping, come to Jesus moment you need to realize how INSANE the potential of crypto is.
5/
The advantage of #DeFi is that you can inspect the health of a protocol in real-time.
You have to “trust” centralized crypto businesses.
The advantage of #DeFi is that you can inspect the health of a protocol in real-time.
You have to “trust” centralized crypto businesses.
6/
At least one centralized crypto business is already insolvent.
You just don’t know it yet.
That’s why #DeFi
At least one centralized crypto business is already insolvent.
You just don’t know it yet.
That’s why #DeFi
7/
Not your keys, not your crypto.
Not your keys, not your crypto.
8/
DeFi has come so far in the past few years— The primary concern used to be whether autonomous smart contracts could even safely secure assets.
Today it’s how to take on Wall Street, covered in @FortuneMagazine.
DeFi has come so far in the past few years— The primary concern used to be whether autonomous smart contracts could even safely secure assets.
Today it’s how to take on Wall Street, covered in @FortuneMagazine.
9/
Dear overworked Goldman Sachs / Wall Street employees:
Quit and work in DeFi, on your own terms/hours.
Dear overworked Goldman Sachs / Wall Street employees:
Quit and work in DeFi, on your own terms/hours.
10/
When I first heard about #bitcoin, I thought it was stupid.
But instead of attacking it, I asked questions, and tried to learn why other people were excited about it.
That was the right move.
When I first heard about #bitcoin, I thought it was stupid.
But instead of attacking it, I asked questions, and tried to learn why other people were excited about it.
That was the right move.
11/
If you have no understanding of a topic, you shouldn’t be a critic or regulator of that topic.
If you have no understanding of a topic, you shouldn’t be a critic or regulator of that topic.
12/
It’s time for investors, regulators, and legislators to learn about, and embrace #DeFi.
This is our wake-up call to create fair, transparent, autonomous financial markets.
Our financial market infrastructure is complex & brittle. The system is opaque, and littered...
It’s time for investors, regulators, and legislators to learn about, and embrace #DeFi.
This is our wake-up call to create fair, transparent, autonomous financial markets.
Our financial market infrastructure is complex & brittle. The system is opaque, and littered...
...with hidden risks.
Public investors aren't protected; they are systematically disadvantaged.
Rules are changed on the fly, mocking the idea of free market capitalism.
Time to evolve.
Public investors aren't protected; they are systematically disadvantaged.
Rules are changed on the fly, mocking the idea of free market capitalism.
Time to evolve.
13/
Stablecoins are programmable dollars.
Innovators are able to create autonomous financial products & markets using stablecoins.
The demand for stablecoins (vs. run of the mill digital dollars) comes from the ability to use dollars in new ways.
Stablecoins are...
Stablecoins are programmable dollars.
Innovators are able to create autonomous financial products & markets using stablecoins.
The demand for stablecoins (vs. run of the mill digital dollars) comes from the ability to use dollars in new ways.
Stablecoins are...
...unlocking a wave of innovation with the potential to change every facet of finance; to make markets cheaper, faster, fairer, and more transparent.
14/
Crying to meatspace courts deeply undermines the “code is law” principles that DeFi was founded on.
If you want courts & politicians to protect & control you, there is “finance”.
If you want a system that is resilient, self sufficient, open, and upgradable, there is DeFi.
Crying to meatspace courts deeply undermines the “code is law” principles that DeFi was founded on.
If you want courts & politicians to protect & control you, there is “finance”.
If you want a system that is resilient, self sufficient, open, and upgradable, there is DeFi.
15/
I love every user, every builder, and every investor.
Crypto is literally the best community on earth.
I love every user, every builder, and every investor.
Crypto is literally the best community on earth.
16/
NFTs are going to put record companies out of business.
When artists can raise money to finance a record, without giving 99% of it away, we might get more creative music, too.
NFTs are going to put record companies out of business.
When artists can raise money to finance a record, without giving 99% of it away, we might get more creative music, too.
17/
There will be many firms created to be the human hands & service providers to DAOs.
There will be many firms created to be the human hands & service providers to DAOs.
18/
Workers will increasingly migrate from the traditional economy to the metaverse economy.
Workers will increasingly migrate from the traditional economy to the metaverse economy.
19/
College majors, 2030:
Crypto-economics
NFT Art History
Protocol Political Science
Memeology
College majors, 2030:
Crypto-economics
NFT Art History
Protocol Political Science
Memeology
20/
If you’re looking for something to do this weekend, read the Bitcoin, Ethereum, and Compound whitepapers.
If you’re looking for something to do this weekend, read the Bitcoin, Ethereum, and Compound whitepapers.
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