>The history of defi can be traced back to mid-2013 (mastercoin) or earlier (colored coins).
I disagree. Defi started with lending and borrowing dapps. If just tokens themselves are 'defi' then bitcoin itself is defi, which would make the definition pointless. Finance requires lending and borrowing.
>Digital gold is a euphemism for speculative store of value. Gold itself is a speculative SoV. For Bitcoin, that’s a sign of success — which is reflected in its market price.
The title of the bitcoin whitepaper is 'Bitcoin: A Peer-to-Peer Electronic Cash System' which means it objectively failed in its stated goal. Of course, it had to, as bitcoin is not backed by anything and money must be backed by something.
Now it's just a ponzi scheme that continues to make people poorer while fooling them that they're getting rich. The only way to make a profit on bitcoin is to take someone else's wealth - it's zero sum by itself. On top of that there's mining, which ensures bitcoin continuously destroys wealth and makes bitcoin buyers poorer as a group compared to everyone else.
I disagree. Defi started with lending and borrowing dapps. If just tokens themselves are 'defi' then bitcoin itself is defi, which would make the definition pointless. Finance requires lending and borrowing.
>Digital gold is a euphemism for speculative store of value. Gold itself is a speculative SoV. For Bitcoin, that’s a sign of success — which is reflected in its market price.
The title of the bitcoin whitepaper is 'Bitcoin: A Peer-to-Peer Electronic Cash System' which means it objectively failed in its stated goal. Of course, it had to, as bitcoin is not backed by anything and money must be backed by something.
Now it's just a ponzi scheme that continues to make people poorer while fooling them that they're getting rich. The only way to make a profit on bitcoin is to take someone else's wealth - it's zero sum by itself. On top of that there's mining, which ensures bitcoin continuously destroys wealth and makes bitcoin buyers poorer as a group compared to everyone else.