Why are we not talking about DeFi!?

Crypto always seemed like a bit of a pipe dream to me until early this year.Peer to peer decentralised digital money that can't be shut down, with transactions that cant be blocked. Is great but it has one massive problem.You wake up to -10% on your money's value on a bad day and -30% on a really bad day. The price going up seems great but it's just as detrimental to mass adoption as price going down because for something to be day to day money you need a stable price.To me, crypto seemed to suffer from a paradox. It needed mass adoption to have a stable price but couldn't have a stable price until it got mass adoption.Alternatively you could use centralised stable coins.. but that takes away half of the entire point in crypto.Then DAI came along. A decentralised stable coin that's backed by smart contract loans. (No this isn't a shitcoin shill, because I make absolutely no money from people buying/using DAI because it's not an investment anymore than the US dollar is.)Dai has all the components of bitcoin but with a stable price. This pretty much solves the paradox I referred to. DAI can bring in the mass adoption because of its stable price, which intern stabilised the cryptocurrency it runs on. In this case ethereum.Recently I've been reading about ETH 2.0 and how they are creating 1024 shard chains meaning ETH 2.0 can do 1024 x 14TPS = 14,334 TPS.If ETH 2.0 goes smoothly then there's absolutely no reason why people can't use DAI as money today, it will have all the benefits of fiat money and all the benefits of crypto.What shocks me is I've seen nobody talking about this in this subreddit and its probably one of the most revolutionary things to happen in this space. All you guys seems to want to talk about is minor progress on small cap coins that have tone is issues to solve before they can even be considered as an alternative to the top ranking coins. It's fine to talk about those things but I think we are missing a lot of the decentralised finance stuff going on in this space right now.

Submitted October 22, 2019 at 03:56AM

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