Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Crypto lending company Babel Finance halts redemptions and withdrawals

babel.finance

Post reply on HN
Print view View original

181–188 of 188 posts

Re: Crypto lending company Babel Finance halts redemptions and withdrawals

#181

Post by harambae »

orwin wrote: post #159
lifty wrote: post #45

Question for the crypto skeptics of HN. Do you think this cycle the whole crypto space goes down the drain never to be heard of again? Do you think the whole space is a fad or do you think there are patches of values underneath the froth? How do you see the space evolving? Thanks!

Until 99% of people understand that money is a mean of redistributing the production, it will come back. Id give cryptocurrencies 4 years after peak oil

Peak oil is projected to be around 2040 by most predictions, so it'll be a while if so.

Re: Crypto lending company Babel Finance halts redemptions and withdrawals

#182

Post by hhmc »

O__________O wrote: post #172
hhmc wrote: post #134

Earlier quoted context omitted.

> Besides Terra (LUNA), Celsius Network (CEL), 3AC, and Babel Finance —- are there other examples? but other than that how was the play Mrs Lincoln?

Care add something substantive to your response? * Explanation of comments meaning: https://www.urbandictionary.com/define.php?term=Other%20than...

Urban dictionary doesn’t even have the correct usage (and surely should not be your first point of reference). So please, try to add something substantive to _your_ response.

Re: Crypto lending company Babel Finance halts redemptions and withdrawals

#183

Post by effingwewt »

O__________O wrote: post #172
hhmc wrote: post #134

Earlier quoted context omitted.

> Besides Terra (LUNA), Celsius Network (CEL), 3AC, and Babel Finance —- are there other examples? but other than that how was the play Mrs Lincoln?

Care add something substantive to your response? * Explanation of comments meaning: https://www.urbandictionary.com/define.php?term=Other%20than...

It's only self-evident if you're American and remember your history.

Abraham Lincoln was shot at a play, his wife Mary Todd Lincoln was sitting next to him.

The implication is to say 'even though your husband and President of The United States was just shot next to you, how was the play otherwise'

Meaning the recipient is being obtuse to the situation or is unaware of it.

I think what he is saying is that the avalanche is falling, and so it doesn't matter that some are left- they won't be for long.

Missing the forest for the trees.

Re: Crypto lending company Babel Finance halts redemptions and withdrawals

#184

Post by ClumsyPilot »

ceejayoz wrote: post #76
ClumsyPilot wrote: post #69

Earlier quoted context omitted.

Thats a major problem, but it's a different problem to the one OP is talking about - some shady guy taking or misusing your money on a whim

What if said shady guy wrote a subtle bug into the contract intentionally?

Has this ever happened or its just a hypothetical?

Re: Crypto lending company Babel Finance halts redemptions and withdrawals

#185

Post by rvz »

GTP wrote: post #113
icu wrote: post #92

Earlier quoted context omitted.

I kind of agree, but at the risk of being completely wrong, I think in the future central banks, or global financial institutions backed by central banks, are probably going to be the issuers of stable coins.

...And then we're back to fiat currency again.

Yes. No single cryptocurrency replacing and taking over the entire financial system or a complete destruction of all cryptocurrencies.

Instead having both a co-existence of stablecoins like USDC on multiple blockchain technologies and CBDCs operating on the same form of blockchain and DLT.

Only the blockchains that fit those requirements of ISO 20020 will indeed continue to survive. A disappointing and upsetting result for both the absolutist crypto-maximalists and the absolutist anti-crypto crowd.

Re: Crypto lending company Babel Finance halts redemptions and withdrawals

#187

Post by delaaxe »

escaper wrote: post #162
delaaxe wrote: post #73

Earlier quoted context omitted.

DeFi projects are doing just fine and work as expected. All these news are about centralized finance companies being irresponsible if not outright malevolent

What's one "defi" project that is both doing fine and providing consumers any type of actual value?

Maker, Aave, Compound, Uniswap
Post reply on HN