[bfung]

How is it Decentralized Finance when regulation is created by a central body? (Can’t have multiple orgs defining regulations, they’ll just come up with different rules!).

DAOs are actually centralized bodies… “pay up and join the rule making club”.

The benefits touted would be amazing, but implementation-wise, are not based in reality and doesn’t account for use cases in a non-closed system.

It’s not sentiment; study Byzantine generals problem, CAP/PACLEC theorem, and hashing. Realize that the coin cannot be removed from the chain and vice versa to have those distributed benefits. Then look at the trade-offs from things like power consumption, etc. it’s not worth it. Maybe when we’re fully green and everyone has way more electrify than they can consume.

[onebot]

Maybe I should have qualified my statement. Regulation needs to happen around these Centralized exchanges and lending platforms like Celsius. So they don't over leverage their positions. DeFi should be completely decentralized (not your keys, not your crypto), but we still see middleman everywhere trying to extract value. If you are gonna act like a bank and be in custody of tokens that belong to your customers, then some regulation should be in order.