Read the piece on lynalden.com ↗
Every claim below was made in this piece, quoted word for word and numbered in the order the piece makes them, so you can read it there rather than take our word for it. The sentence above each quote is our reading of the claim, not their wording. Each quote was checked against a stored copy of the page at build time; where the two differ, the quote is the fact.
Their wordsUtility protocols face heavy competition, and thus their value trends toward their marginal cost of operation.
Our reading
Mental modelTrade-offs
Their wordsWhile there is some utility value in DeFi, it basically lets users transform custodial risk into technical risk (e.g. bridge protocol hacks), which is not a free lunch.
Their wordsIn my view, Bitcoin at a ~$2 trillion market capitalization remains rather early.
Keep reading
The other pieces are the ones whose claims are worded most like this one's. That measures language, not agreement: they may argue the opposite.