I would agree that some use of defi in the future could solve many problems. Unfortunately when defi gets mentioned today its under the scope of much negativity. It's almost like saying Scientology has many useful training techniques in confidence and knowledge. However Scientology is termed to be a cult, brainwashing organization.. etc., and so everything in Scientology is seen as bad.
That's the Defi of today. So the reference of defi is what we see today. Unfortunately although many of us recognize the promise and the future of what this space can be. We as a whole encourage and welcome bad actors. it is a given. So my concern in the evolution of this space is mostly this period not the future. The problem is this period is setting alot of the narrative of what the future of defi will be. It doesn't look good from this standpoint.
Now in the future there can exist a defi thats not in the class we're in now. Absolutely it could. That hasn't happened as of yet. These projects grouping themselves in that category are mostly shameful projects and again the space does a bad job of restraining from that type of narrative. They welcome these projects with open arms and so alot of what defi can be falls on deaf ears to most because we understand what they are used for now.
So i think there will come a future when crypto shuns projects that bring us shame. That we don't make them top performing cryptos like we always do because of greed and mistaking this for the only possible use is a roulette wheel. Hopefully that day will come. It doesn't seem like its come yet. We got a long way to in our market psychology.
Crypto doesn't have regulatory markets. I wouldn't say economist don't know what they talking about . On the contrary they do. I think the mistake they'd make in crypto is underestimating just how much people care about pump and dump projects over real useful projects. I think they'd miss that.
The other part is we know what that really means. That means that the people involved in crypto care more about cashing out into fiat currency and using fiat currency than they do about crypto. if it were different they'd care more about advancement of the space and not just pumpamentals.
Now what does pumpamentals mean? it means its more important that the price of the coin goes up than its actual value to society. That puts us in a bit of a connundrum.. puts us in a pickle. As we're not saying much, just like Warren Buffet said. Usefulness and technology generally always win out. Shellgames often times end up as shellgames.
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DeFi will follow the same path as the Internet. In the early days, it had the reputation for being a haven of porn, hookers, and drug dealers. That wasnt an inaccurate assessment either. We also went through the dot com era where there were a plethora or people, nefarious or not, who got large sums of money and never built anything. However, in spite of it all, the Internet grew and forged ahead. Today, we know there are a lot more use cases even through there is still porn, hookers and drugs online.
DeFi (crypto in general) has a lot of the scammers and people who are just trying to scalp a buck. We saw a lot of that in the early days of email too. It seems new technology brings out the wolves and some of the non-knowing sheep will get eaten.
With all of this, crypto-defi-nfts, we have to separate the mania from the underlying value that is being built and created. This is not determined by looking at market cap or pricing charts. Alas, that is where most are at.
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