To the DeFi community,
💸 How many airdrops and POAP’s do you have unclaimed?
🚁 Enter your public #Ethereum address on
— DeFi Dawson (@DawsonBotsford) February 8, 2021
The Federal Reserve is taking a comprehensive look at DeFi protocols, sharing a detailed report on the industry ranging from basic crypto building blocks to the finer points of building and using decentralized exchanges like Uniswap or generating crypto-collateralized loans via services like MakerDAO.
— St. Louis Fed (@stlouisfed) February 8, 2021
Two of the biggest narratives of 2020 finally collided this week to the tune of a $1.5 billion investment in Bitcoin by Tesla, as Elon seems to be falling deeper and deeper into the crypto rabbit hole.
Any crypto wallet that won’t give you your private keys should be avoided at all costs
— Elon Musk (@elonmusk) February 10, 2021
Keep in mind, a good chunk of Elon’s original wealth came from helping build PayPal, arguably one of the most successful electronic payment companies ever created, so he knows his stuff when it comes to digital money. Doge and Bitcoin today, Ethereum and DeFi tomorrow.
Doge appears to be inflationary, but is not meaningfully so (fixed # of coins per unit time), whereas BTC is arguably deflationary to a fault.
Transaction speed of Doge should ideally be a few orders of magnitude faster.
— Elon Musk (@elonmusk) February 8, 2021
Speaking of digital pioneers, Mark Cuban is also getting in on the new financial wave, and he seems very bullish about both digital gold and its place in the DeFi universe.
What I said was that btc is not a currency. It’s a store of value. Like gold. But when it came to utility Bananas had more utility. I can eat bananas 💯. That was pre de-fi. DeFi and many other dapps changed everything. Now Btc is more than a SOV because of its swap utility
— Mark Cuban (@mcuban) February 9, 2021
Now that just about anyone who knows Tesla knows about Bitcoin, it might be getting a little late to tell friends, family, and Telegram groups that ‘it’s still so early’ in the arc of the original cryptocurrency. DeFi, on the other hand, is just starting to come into its own, and is generating heaps more value than Bitcoin or even Ethereum did in their early years.
So keep your eyes peeled for product-market fit, dev teams that ship like it’s going out of style, and try not to let mind-numbing paper gains distract you from the…
Read More: defirate.com