There is little doubt that the collapse of UST send shockwaves throughout the entire crypto industry. It is also giving a lot to those who are drooling to get their claws into this industry.
In this video I discuss how we, through greed, created this situation. The lack of focus upon building value, which is the ultimate in resiliency, is what is now biting us. The entire idea of building everything based upon get rich quick is being exposed. Now we will have the political establishment moving in and looking to "fix" things. History shows they will only screw it up even more.
▶️ 3Speak
And that is exactly what is worrying me about pHive, pSPS, pHBD, with huge APR % it looks too good to be true, how is those APR's even funded.
Normally when one use a bank they borrow money out at an higher rate than what they pay as interest, the model is easy to understand. I must say I don't understand the "p" concept.
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Ignore what you learned from the banking system. That is like trying to understand how money operated under the single-entry accounting system the ancient Mesopotamians used.
Or life without ledger technology.
What happens is a transformation in our monetary and economic is underway in ways few can envision.
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That is for sure!!
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if the greed of some puts the entire cryptographic market at risk since they want to have good profits without the good foundations on which to support the project in question
Well it isnt going to destroy what is taking place but just creating more headwinds.
In the end it will push decentralization.
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Regulation, ok, but how in heaven’s name are they going to be able to enforce it? That’s where the bottleneck is in my opinion, and the way to escape the rules. I just don’t see it happening…
Exchanges are the primary way to enforce regulation. They also can go after all the entities that are not truly decentralized. So all the foundations, labs, and companies behind these projects will have to adhere to the regulations.
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Yea the greed really screwed things up but I feel like the greed will never go away. I think we just have to wait and see what type of regulations come into effect and I hope the crypto space will develop around it.
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