"The cult label can be seen as a pejorative but I will attempt to explain here how it is a perfectly reasonable and necessary description of Bitcoin. A cult is just a religion with limited membership status and social acceptance. Musician Frank Zappa cleverly stated that “the only difference between a religion and a cult is the amount of real estate they own”. So if Bitcoin is a cult, fiat money is a religion."
beginner
"This essay is meant to suggest key questions the Maker and wider DeFi communities should ask when making decisions regarding the rates and parameters on trust-minimized credit protocols."
"By issuing crypto tokens, platforms gave early users an incentive to help bootstrap the service and solve the often inherent chicken and egg problem. These tokens act as value exchange / currency within a platform and often give owners specific rights like voting on forks, etc."
"Credit creation with skin in the game for all involved."
"I came across a definition and understanding of “legal systems” that has really cleared up a lot of things that have been weighing heavily on my mind for a long time."
"In fact, crypto is all about institutions. Specifically, it’s about building scalable, global, decentralized institutions — institutions that survive any particular group, country, or time."
"I’ll focus on an aspect that hasn’t received as much attention: the business behind stablecoins."
"The stablecoins, DEXs, investing, derivatives, payments, lending, and insurance platforms building on Ethereum"
"While we wait for the blockchain/crypto technology to scale to the point where it can be the foundation of mainstream consumer applications (games, social media, e-commerce, etc), there is a sector where scalability is a little less important and where blockchain/crypto is starting to show some real signs of life."