Debt cycles are bad. What is the alternative. — The 2020s is a decade of many strange things in the realm of finance from million dollar auctions of links-to-pics (NFTs) to magic boxes and meme stock trading. …

Magic boxes don’t have fundamentals. — There is this comical contrast between the pinkish toy-pet esthetics of (most) DeFi projects and the clear focus of their users on short-term speculation. You would think that the gamified esthetics has its purpose, that is, to draw in public. …

Can DeFi survive the downturn? — There are two ways in which you can view decentralized finance (DeFi) depending (mostly) on your level of cynicism. One is that DeFi is taking the concept of artificial scarcity successfully created by bitcoin to the next level on a mission to recreate human socio-economic structures on blockchain. That is…

Generally speaking, you would expect that when people invent better way of doing things, they replace the old with the new, although this is not what always happens. Sometimes, it is because a change would just cost too much. To this day, the U.S. has not adopted metric system, despite…

The dirty little secret of smart contract blockchain powered micro-economies that we like to call DeFi is that they are remarkably reminiscent of a Ponzi scheme .. a Ponzi scheme with incredible future potential, but nevertheless, in its current state, a Ponzi. …big operating system powered by crypto tokens, for…

I am so sorry about these next few lines, which you must have been exposed to in one form or another somewhere in the public domain in recent months, as the topic of de-dollarization has become something of a popular culture. There was a time when money represented something of…