[oneoff786]

> Medium term, I see protocols like Compound eating the profits of the large banks and either forcing them to innovate (which would be great) or replacing them entirely. Why does my savings account yield 0.01% when they lend out my very same dollars at 5% in the form of car loans/mortgages?

If the car loan defaults, you don’t lose your money. That’s the primary reason.

> Same deal with the traditional markets, there's a lot of fees and friction unless you're a big boy that locks a lot of retail out of the game.

Crypto fees are often terrible. The ones that aren’t tend to rely on a few centralized party for trust.

> Private capital markets are in for a wake up as well - VCs hold a crazy amount of power and potential upside exposure because they're just the only ones who can get in on deals early

That’s… not true and risky startup investing is a snake pit for ordinary investors

> Someone from North Korea can build a smart contract and I don't need to trust them that it does what they say it does, because I can verify it for myself.

And go to jail because you’re violating international sanctions?