Comments by "Samson Soturian" (@samsonsoturian6013) on "Crypto Utopia Cracking?" video.

Wheat, honey, and molasses keep in the cupboard better.
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Patrick did make a video comparing them to the old west wildcat banks...
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@Aaron565 found the scammer
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If a government agency or large bank set up a defi like structure with Federal law enforcement patroling it, would that in theory accomplish the nominal idea of defi better than the current wildcat model?
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Most people who jump onto this either think they're the scammer manipulating matkets, or it's a matter of ego where they intentionally try to destroy the system they were born into.
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It's a mix of scams, greed, and stupidity.
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Not really centralization but economies of scale. You'll note most banking services come down to a limited number of giant institutions all competing for the same customers.
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A lot of people pretend it does....
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@j3i2i2yl7 often not, as the ability to swallow the total loss of a factory is helpful. Namely, the machine shop I work at because the contract to supply parts for one plane is suddenly ending, which was about half our business for a 1200 person company. Lots of hoopla, but we've avoided layoffs.
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I think this comment demonstrates a concept that's common but doesn't have a name: Trying to sound smart to win an argument rather than saying anything of substance.
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India is also loaded with scams.
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Tulips had real world value
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@full__tilt Tulip mania happened over 3-4 years, from the time they were first distributed across Holland until the first plentiful harvest burst the bubble. Also, tulips had real world value as they were pretty flowers in a time and place was the pasttime of men and women both rich and poor.
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@full__tilt I am
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@full__tilt Indirectly. I should add. I short a list of funds that are longbon blockchain stuff.
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You haven't been paying attention to all the multi million dollar fines over the years?
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@Thesilverrat No, I was referring to a variety of malfeasances over many decades at varying levels of organizations rather than an imaginary conspiracy. First that comes to mind was when one bank's investment officers would fail to inform their customers about mutual funds with small commissions/fees, in another case several banks were censured for their arbitrary fees for prime brokerage accounts, and in another case a bank's management would systematically fire the bankers brought in the fewest new customers, so many bankers would create dummy accounts to boost their numbers (inadvertently causing the bank's stock value to inflate). I know a former banker who went to prison... She simply stole money from the till. But the only real crime in 2008 was, to quote Michael Burry poorly, "no one wants to take responsibility for their mistakes."
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@3sgtecelica depends on the bank and the misdemeanor convicted of, but unlike you the rest of us don't view banks as competition to be dominated. So get back to work, greedo.
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@3sgtecelica something way over your bearly literate head
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@Thesilverrat the real crime is all the greedy whiners blaming the whole world for their own incompetence. That's the more frank version of what Michael Burry said.
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I was thinking the same thing. If a licensed bank creates smart contracts for peer to peer lending and arbitrates disputes/glitches as needed, then they can effectively automate most of the process of banking.
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@AD-yo1pg I think he's assuming you'd dispense with the crypto junk.
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@corail53 loans aren't. You have to go through a bank officer.
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@AicyDC someone would have to do a deep dive into what automation is possible versus what is standard.
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"Proper socialism?" I say as a military history that no two self described socialists have ever agreed what "proper socialism" was simply because they all wanted their way in absolutely everything.
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@l4m41987 how can you talk so much but say so little?
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@l4m41987 you'd lose
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