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A comment on Elizabeth Warren Gives SEC July 28 Deadline to Figure Out Crypto Regulation. Parent comment

Re:Elizabeth Warren Gives SEC July 28 Deadline to Figure Out... by kerng on Friday July 09, 2021 @12:17AM (#27780436)
Comments like this make me wonder how misunderstood a lot of the crypto space is and how little many know about it.

It's very normal in finance to call financial offerings, lending, loans, etc. products.

Some DeFi products offer nice rewards even - like somewhere around 12% pa for more risky, but about 6% pa for low risk products.

We are far from close to mainstream usage and early adopters probably will benefit the most.

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Re:Elizabeth Warren Gives SEC July 28 Deadline to Figure Out... by BrissyCoder on Friday July 09, 2021 @10:18PM (#27790608)
What's to understand? I can get a loan on crypto but I have to put the same amount of crypto as collateral. What is the point of this?

If I go to a bank I can get a loan for a car and use the car I'm purchasing itself as collateral.

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Re:Elizabeth Warren Gives SEC July 28 Deadline to Figure Out... by kerng on Saturday July 10, 2021 @04:13PM (#27796109)
That is one product. The benefit is related to growth and related taxation (but might depend on the country you are in).
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Re:Elizabeth Warren Gives SEC July 28 Deadline to Figure Out... by BrissyCoder on Saturday July 10, 2021 @09:19PM (#27797759)
> The benefit is related to growth

Right... so pure speculation then with no underlying utility.

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