What is DeFi and Why Do We Need It? | Anthony Pompliano on Ethereum Cryptocurrency in 2020



What is DeFi Ethereum? Why do we need it? Anthony Pompliano, host of the Pomp Podcast, shares his view on DeFi cryptocurrency in 2020! Altcoin Daily has …

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28 Comments

  1. Bitcoin (and its supporters) reminds me of Central Banks being REACTIVE to change and trying to "hijack" new technology as they are incompetent and move too slow. Bitcoin maximalists hating on other coins just like bankers hating on Bitcoin – but they are too narrow-minded to see it. 🙂

  2. Bitcoin is not safe from being controlled financing. Its the decentralized community that has held it mainly to decentralization. People dont understand that the system being installed masked as better cell service and the internet of things is perfectly engineered to hi-jack everything including bitcoin. The towers and starlink satellites system cover the planet for internet and is hooked up to powergrid worldwide. This system dwarfs every bitcoin miners capabilities worldwide and in an instant can hijack bitcoin control. The way to solved this problem is to isolate control back to the original community and lock out a brute power takeover. By having the full existing blockchain run behind one coin to get first action on an attacker with more power. Immediately the main blockchain has an exponent mini blockchain that runs exponentially more difficult to attack and because you get first action it will hold. Once a new coin is mined the one thats in front can be placed into the main blockchain running behind the new mined coin. At best an attacker might create a stalemate situation where the blockchain is required to go into a halting situation until the attacker surrenders his attack.

  3. What I see as the future concerning total decentralisation in DeFi is using REN to embed Bitcoin into the Ethereum network where it can be used as decentralised collateral for Ethereum's decentralised DeFi applications.

  4. Amazing guys!! You have broke that coveted 200k subscriber mark! Hard work along with amazing talent at creating fantastic content has really payed off. Thanks so much for all your hard work. You guys deserve it

  5. Dont spread fud about chainlink man. I love your videos but Chainlink is way more important than you think. It connects real world data with blockchains. You should consider reading the white paper of Chainlink. And its a ERC677 token. It can work with all the different blockchains

  6. Ethereum won’t go down like every fiat because there is a legitimate use case for it other than transacting, you can build things on it such as defi projects, games and other Dapps. What can you build on the bitcoin blockchain….. I’ll wait… Oh yeah nothing. Bitcoins blochain is shit it’s slow and the blocks are small. Only thing bitcoin has going for it is scarcity and media attention. It is true that eth has a unlimited supply BUT the ethereum foundation has to come to a consensus on if they are going to print and how much. It is financially incentivized for them to print what they want and dump it. But why have they not done that already, why has vitalik not dumped his coins which are a majority of his net worth. You want to know why, because he actually cares for the project, or else he would have already, especially when eth pumped.

  7. The claim that Ether is not a good store of value because of its dynamic inflationary rate is completely disregarding the trend and roadmap of Ethereum. First of all, lets establish the fact that a dynamic inflationary rate is NOT necessarily bad since it allows for a faster reduction than what was originally planned. This has been demonstrated since the current total Ether issued is LESS than what was initially estimated at this point. Ethereum roadmap is preparing for an even greater reduction in issuance that is targeting an inflationary rate LOWER than Bitcoin's – this should happen in the next couple of years as PoW phases out. A sustainable ZERO inflationary rate will be achieved through the elimination of PoS, EIP 1559 and layer zero scalability via sharding. This is something (long term sustainability) that Bitcoin does not have since it is expected that the price of Bitcoin must double in between every halvening event in order to maintain hash rates. The operational cost of securing Bitcoin is unsustainable… for now there is only wishful thinking that somehow layer scaling will be able to sustain the network exclusively via fees, but there is no tangible plan to achieve it. This dynamic is a ticking time bomb and Bitcoin has a serious long term risk of self imploding due to the periodic reduction of incentive for miners to secure the network. Not to mention that the understanding of what and how Bitcoin should function is adopting the OLD paradigm of money and financial systems.
    Is it really necessary to make the argument that a financial system that is decentralized, censorship resistant and permission-less is more desirable and valuable than centralized/externalized systems? The new paradigm of money calls for built-in integration with a financial system that provides the same awesome properties that made Bitcoin so powerful: censorship resistant, decentralized, permission-less, trust-less. The ability to transparently issue and transact digital assets is integral to the new global economic paradigm. Externalizing a monetary token such as Bitcoin exponentially increases risk as it introduces an additional network and potential third parties – this exponentially reduces the golden qualities of a self-contained cryptographic network.

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