[rewtraw]

Most of HN isn't aware of the non-BTC, non-Ponzi protocols and dapps being built right now.

There are some very cool things like decentralized lending/borrowing, exchanges, cross-chain swaps, synthetics, etc. These protocols are revenue generating (via fees) and are actively used with billions in volume.

99% of crypto will die off, but the small part that survives could be the backbone of a very robust internet-native financial system.

Whether these DeFi primitives will ever be plugged into TradFi systems remains to be seen, but if nothing else, the ability for these protocols to easily interop is a huge win over existing systems.

Even if everything uses stablecoins and all "altcoins" are ignored, there is still value here.