DigiByte (DGB) Noah Seidman on how Legacy Financial System is Primed for Systemic DisruptionJuly 2, 2020
Noah Seidman was recently talking in an AMA without any specific topic opened up for some question and answers. He stated, “No starter topic, just questions, answers, and a bunch of examples. Let logic and reason prevail, in a time when denial and blind faith run rampant.”
When asked do you feel very certain that the market will be bigger and bigger during the next years, and that BTC can be 50k, DGB 1 dollar, etc. Or could it all go to BTC 500 dollars, DGB half cent and less.
Seidman replied, no. I don’t. There is no way to say that for certain. My mind thinks in terms of inevitabilities. What is inevitable is that there is going to be systemic instability. And, what I do know is that the only way to best protect yourself is to be diversified. Never go all in. Never spread too thin.
And, some of the more volatile or exciting ways to be diversified is in technologies that are disruptive of the status quo. Now, legacy financial system is a status quo and it is primed for systemic disruption. The banking system is antiquated and DeFi is disruptive. It changes everything. It is a technological disruptor.
In response to the expression, Sydney Ifergan, the crypto expert tweeted: “Noah Seidman, someone very active in the DigiByte (DGB) Ecosystem had his say about the DeFi being Systemically Disruptive of the Legacy Financial Systems. Waiting to see it unfold.”
DeFi Makes Legacy Financial Systems Look Disruptive
It is actually crazy how inferior DeFi makes legacy financial system look particularly with over collateralization versus under collateralization.
Over collateralized lending schemes are not systemically disruptive in the case of a default scenario. The legacy system is destroyed and that is what is going out.
He also discussed on what he thinks is value. He expressed that value means different things for different people. He pointed to a ring that he purchased after his first job. It is perception. He stated the ring has value because it is the “first” item when he purchased one of the first jobs. It is or more value to me than to someone else. Someone else will value it based on the materials that they can melt it down for reselling.
It is a very psychological concept about real value, but I believe that there is much more momentum in crypto projects having long term value appreciation that is available in many equities. The equities are a share of ownership of a company. Much of these crypto projects can be viewed from the company analysis What is the product? How much is the product worth? And, what is more important is about how disruptive it is of a legacy status quo system and the volume of the status quo system.