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Bitcoin faces an 'identity crisis' and DeFi devs need to stop acting like tech bros
Key takeaways
- Ben Nadareski argued that the industry’s biggest asset is experiencing structural confusion in an interview with CoinDesk onvTuesday.
- “Bitcoin BTC$67,671.35 is going through a bit of an identity crisis right now,” Nadareski said. “It's not the store of value, like gold, to the masses.
- “They don't quite realize you're now also a financial asset manager if you're working in DeFi,” Nadareski stated. “That doesn't mean you're in tech.
Ben Nadareski argued that the industry’s biggest asset is experiencing structural confusion in an interview with CoinDesk onvTuesday.
“Bitcoin BTC$67,671.35 is going through a bit of an identity crisis right now,” Nadareski said. “It's not the store of value, like gold, to the masses. It's also not the speculative investment vehicle that everybody was really attracted to. While bitcoin and the core assets go through their identity crisis, quiet players in the DeFi industry are growing rapidly.”
Decentralized finance’s “silent” growth is heavily challenged by ongoing exploits, according to Nadareski, a flaw he blamed on developers frequently building innovative code while completely ignoring the core responsibilities of managing capital.
Article preview — originally published by CoinDesk. Full story at the source.
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