Lol Brain Armstrong is part of the system that crypto wants to disrupt. I don't think we need regulation in this space. Code is law and I am willing to leave It at that. If the government by any chance controls this spacewe can say goodby e to the freedom we have worked for... The government is just a few elites dictating what's right or wrong. I have no confidence in such systems
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Very true. Even if he started with pure intentions, he is now part of the establishment. Regulation protects his business from outsiders. His only vulnerability is from other banks.
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I hope we don't get to that point where we seek solace in the hands of a corrupt government. I understand people are concerned about scams and hacks but those are problems the industry should solve, rather than falling back on the government.
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DeFi, when established properly, is the defense against that. We have to keep building to the point where the infrastructure is such that anyone can fork what they need.
Then it is truly an unstoppable force.
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Spot on! This is none of the many points I made against regulation in my recent post. The infrastructure can take care of itself when done properly. So in other words we are simply going to innovate to the point where we mitigate fraud within this space.
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I get lucky once in a while.
Without a doubt. Regulation means nothing. This is why I keep trying to explain to people what the true model for cryptocurrency is. We are doing what the banking conglomerate did with the Eurodollar system. It is not different.
And that operates outside the scope of governments and central banks.
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