All of the current histrionics that we hear from DeFi advocates regarding escaping the evil centralized Banks and Regulators and what not -- you know what they remind me of? They remind me of what I hear from junior developers when they're tasked with fixing an antiquated, broken software system. These developers typically lack the experience and the patience necessary to fix the system incrementally from within, so…
Fiat currency has all kinds of risks and weaknesses, but there are some strengths that I don't see, say, a Bitcoin addressing. The most immediate one to my mind is that if money is stolen, there is a central authority to make the victim whole. Because the authority owns the money supply, they can even do it via a back-door tax on the value everyone holds if the stolen property is not yet recovered (i.e. they can just print more money). If someone steals my BTC, it's just gone. There's no higher authority to appeal to to correct the theft.