Talked to some “defi" guys today. They were saying that there would be a new system for bitcoin to earn yield on smart contract blockchains.. I said you don’t need yield if your money is not being debased. They said the financial system isn’t going away. I said it might (to a great extent) if no one needs to supply it with money looking for a return in order to avoid debasement.

This is the great question IMO: who coopts whom?