493 karma · joined February 26, 2016
Maybe not the best example- I'm not too familiar with the structure and they definitely over-hype everything about the project. Still the parallel is there of making a centralized thing more accessible / open to more market participants.
DeFi is sort of billed as an "internet of money," so it makes sense that it's focused on financial systems. Unfortunately many do just dump their life savings and hope to get rich quick. A similar thing happened during the dot com boom in the traditional markets. I imagine a lot of this will settle over time (and there will still be scams and pump and dumps, just as there are in penny stocks / the wider internet in general).
As for Internet Computer, the application to the governance system is decentralized and votes are made by token holders on-chain. It's decentralized in that the votes are open and auditable.
BSC sucks, agree with you there but they're far from the norm. I'm really just shocked that there's so little interest in the tech behind all the protocols here given the wider hacker ethos.
In reality just doing normal, established processes in a distributed way often is the value-add. See decentralized finance[0]. All these tools and primitives exist in traditional finance, but when it's decentralized all market participants can get a cut of the rewards instead of just the big banks.
A more recent AWS-like example is Internet Computer[1]. A more open way to on-board data centers and build distributed apps. Could it be done in a centralized way? Yes, of course. Is it more fair and open if it's decentralized? Also yes.
Besides, if you read the whole thread you'd know he's acknowledging that if we could simulate QC classically, then we'd be able to have more efficient classical search algorithms. It's an if that's likely impossible at scale but not, by definition, impossible.
Think I'd recommend a different title next time better indicating the current state. That and maybe replace the whitepaper link with a direct link to the github as it's a frustrating flow to open a PDF to see it's behind a signup wall.
Edit: aaaand it's down
[0] https://news.bitcoin.com/5-mining-50-btc-hashrate/ (I fully understand this is a pro-BCH site but their sources are accurate)
Loans in defi are over-collateralized right now meaning there's very little risk for the lenders. This will likely change as distributed identity/credit scores are implemented.
A couple examples of what's to come: https://cointelegraph.com/news/defi-s-critical-missing-piece... https://medium.com/minaprotocol/snark-powered-defi-teller-bu...