Cryptocurrency
Cryptocurrency
Out of context: Reply #438
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- neverscared1
Is Crypto Re-Creating the 2008 Financial Crisis?
“This is an old trick from the financial industry: Make things more complex.”
Allen studies financial crises—specifically, threats to financial stability and the ways in which financial fallout affects regular people, not just institutions—and she has testified before the House Financial Services Committee. Her recent essay focuses on the financial innovations (money market mutual funds, credit default swaps, mortgage-backed securities) that ultimately led to the 2008 crisis and draws parallels between those and some of the tools and dynamics in the world of crypto and decentralized finance (DeFi). DeFi, she argues, is repeating many of the mistakes of the past.
- It's certainly not happening. It's genius when you think about it - literally assets created out of NOTHING. Not even pretending to be anything.formed
- Pure marketing, pure hype, pure speculation. Almost exactly like the CDO's, etc., and a million other financial vehicles.formed
- Thanks for posting. Good read.formed
- BTC isn't created from nothing - it's created from energy. It's value is a result of supply : demand.shapesalad
- It's utility is it's deflationary, portable and easily transferable.shapesalad
- Exactly, it's based on nothing but s:d. Hence why it's so unstable and can go to zero in a nanosecond (or a billion). Gambling.formed
- Which is fine, but people are sold on this idea that it is something 'different', when it's just a financial tool, controlled the same way other assets are.formed