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A comment on Top stablecoins shed $7B in May as traders redeem tokens en masse. Parent comment

Re:Top stablecoins shed $7B in May as traders redeem tokens ... by Paradigma11 on Sunday May 22, 2022 @06:49AM (#31466800)
In my opinion crypto (i am talking about PoS with smart contracts) is about having a decentralized open source/standards cloud for financial services/ transactions. That opens up many possibilities but everything has been completely drowned out by VCs starting defi ponzi schemes and other shenanigans.
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Re:Top stablecoins shed $7B in May as traders redeem tokens ... by the_snooze on Sunday May 22, 2022 @10:02AM (#31468274)
The problem is that there's adverse selection going on here: people who aren't running ponzi schemes and other shenanigans are generally content with the regular banking system, so scammers are disproportionally present in the crypto world. Given that environment, it's mostly risk and little benefit for legit users in crypto.

The killer app for decentralized finance so far is sidestepping laws. No wonder it's a den of snakes.

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Re:Top stablecoins shed $7B in May as traders redeem tokens ... by salawat on Sunday May 22, 2022 @01:49PM (#31470838)
PoS is centralizing by it's very nature.
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Re:Top stablecoins shed $7B in May as traders redeem tokens ... by Paradigma11 on Sunday May 22, 2022 @04:40PM (#31472521)
Show me. There are PoS chains running for a few years, so this should be observable.
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