People sometimes ask me what my vision of DeFi is. This is a very tough question. DeFi is very messy with thousands of experiments happening. But high level, I think DeFi will go through 2 phases:

During the 1st phase (next 2-5 years), we'll continue to build games, casinos, and speculative products.
This sounds uninspiring. But it has two main important consequences.

1) This will ultimately lead to hundreds of millions of users to install wallets and get uncomfortable with the UX.

2) This will force the tech (especially scaling) to mature.
Once we've achieved these two goals, phase 2 begins. In phase 2, products that serve real economic activities / integrated with the real economy will be built and flourish.
Right now, such products barely exist. @terra_money comes to mind. But this is the kind of products that I really look forward to. They are more economically sustainable, and create more value.
In a way, we saw the same 2 phases with #BTC. In the early days, BTC was primarily a speculative asset. Nowadays, it still is, but it's transitioning into the 2nd phase where it's considered an 'emerging store of value'.
Matter of fact, arguably the most important component of capital markets is lending / credit / fixed income. In TradFi, this function is largely manipulated by central banks. In DeFi, it's driven by speculative activities aka phase 1.
In hindsight, phase 1 has also played a critical role in bootstrapping the lending / credit / fixed income market in DeFi. This will pave the way for phase 2.
Moreover, in phase 2, I don't expect DeFi to become a 'parallel financial system'. Instead, I expect traditional financial services companies to build their products in DeFi. Just like traditional media companies moved their business onto the Internet.
If 'the Internet' existed before 'finance' did, I think that's exactly how finance would've been built. On open protocols. Rather in wall gardens.

At the end of phase 2, the 'De' in DeFi will just be removed, and it will just be 'finance'.

More from Tech

The entire discussion around Facebook’s disclosures of what happened in 2016 is very frustrating. No exec stopped any investigations, but there were a lot of heated discussions about what to publish and when.


In the spring and summer of 2016, as reported by the Times, activity we traced to GRU was reported to the FBI. This was the standard model of interaction companies used for nation-state attacks against likely US targeted.

In the Spring of 2017, after a deep dive into the Fake News phenomena, the security team wanted to publish an update that covered what we had learned. At this point, we didn’t have any advertising content or the big IRA cluster, but we did know about the GRU model.

This report when through dozens of edits as different equities were represented. I did not have any meetings with Sheryl on the paper, but I can’t speak to whether she was in the loop with my higher-ups.

In the end, the difficult question of attribution was settled by us pointing to the DNI report instead of saying Russia or GRU directly. In my pre-briefs with members of Congress, I made it clear that we believed this action was GRU.
1. One of the best changes in recent years is the GOP abandoning libertarianism. Here's GOP Rep. Greg Steube: “I do think there is an appetite amongst Republicans, if the Dems wanted to try to break up Big Tech, I think there is support for that."

2. And @RepKenBuck, who offered a thoughtful Third Way report on antitrust law in 2020, weighed in quite reasonably on Biden antitrust frameworks.

3. I believe this change is sincere because it's so pervasive and beginning to result in real policy changes. Example: The North Dakota GOP is taking on Apple's app store.


4. And yet there's a problem. The GOP establishment is still pro-big tech. Trump, despite some of his instincts, appointed pro-monopoly antitrust enforcers. Antitrust chief Makan Delrahim helped big tech, and the antitrust case happened bc he was recused.

5. At the other sleepy antitrust agency, the Federal Trade Commission, Trump appointed commissioners
@FTCPhillips and @CSWilsonFTC are both pro-monopoly. Both voted *against* the antitrust case on FB. That case was 3-2, with a GOP Chair and 2 Dems teaming up against 2 Rs.

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Trading view scanner process -

1 - open trading view in your browser and select stock scanner in left corner down side .

2 - touch the percentage% gain change ( and u can see higest gainer of today)


3. Then, start with 6% gainer to 20% gainer and look charts of everyone in daily Timeframe . (For fno selection u can choose 1% to 4% )

4. Then manually select the stocks which are going to give all time high BO or 52 high BO or already given.

5. U can also select those stocks which are going to give range breakout or already given range BO

6 . If in 15 min chart📊 any stock sustaing near BO zone or after BO then select it on your watchlist

7 . Now next day if any stock show momentum u can take trade in it with RM

This looks very easy & simple but,

U will amazed to see it's result if you follow proper risk management.

I did 4x my capital by trading in only momentum stocks.

I will keep sharing such learning thread 🧵 for you 🙏💞🙏

Keep learning / keep sharing 🙏
@AdityaTodmal