RE: BlockFi Bailout Begins

[mypathtofire]

What regulations are needed if you are in Defi? Doesn't it go against the whole point of it!?

Comments

[chekohler]

Welcome to the conversation, that is the marketed point, but it is far from the truth.

Can you name a defi service that cannot be regulated?

• If the founder is public they can be served
• If they've accepted outside capital like VC funding then they have ties to a centralised services like banking and their LPs
• If they have centralised stablecoins like USDC/USDT their smart contract can be blacklisted from using those assets
• If they run their services on could provider like AWS of which most do they can be shut down

DEFI is decentralised in name only

[mypathtofire]

Oh damn. We've been sold a lie?

[chekohler]

Lol now you're getting it, the more you ask questions the more you'll realise how these are all fairy tales with no grounding in reality

[mypathtofire]

oh man!