60 sats \ 0 replies \ @Turdinthepunchbowl 17 Sep \ on: Can DeFi be built on BTC, and does it matter? bitcoin
The thing that finally got me out of alt coins awhile back was when I realized that no actual valuable economic activity was happening on any ecosystem. It was all swaps from one coin to another, lending/liquidity providing to earn from swaps, minting NFTs that would eventually become worthless, and staking. I just thought it was a matter of time with some of these ecosystems (Cosmos in particular I used to be interested in) that the music would stop. I just think Ethereum is a larger system, so the music will likely continue to play for longer. DeFi and yield, you gotta ask where or how is that yield/interest generated and is it sustainable.