[markdestouches]

>> You're still missing the forest for the trees. All of this was created in the last 2-3 years and already it's replicated most of what's in traditional finance.

Making a copy of an existing technology while repeating every historical mistake on the way is not innovation but rather poor learning ability. It's been 13 years since the advent of blockchain and we are yet to see anything actually useful. Yet all we see is smuggling, money laundering and fraud. With stories like FTX we also see incredible ineptitude, incompetence and ignorance. I am so tired of seeing these same groundless arguments over and over again, especially now, once money got dear and all of the crypto started crashing down.

[timmytokyo]

It's almost as if the "anyone can do it without permission" argument is one of the reasons traditional finance evolved into the regulated system it is today.

[pjkundert]

TradFi - Anyone can do it without permissions and lie, except regulations force accounting practices, revealing malfeasance.

DeFi - Anyone can do it without permissions, and everyone can see they didn't lie.

Crap-coin FTX Crypto Bros - Let's lie, do "TradFi" and call it "DeFi", comply with no regulations or accounting practices, and steal the Crypto. What could go wrong?

HN low-research "Eternal September" Bros: Told ya Crypto was all a scam, yer dumb!

[WorldMaker]

I've been making more than a few jokes lately that Games Done Quick should have pre-banned categories like "Great Depression-era Wall Street Finance Speed Run ANY%".