The Risks Were Well Known

Anyone who can face reality should have known that TradFi would attack any DeFi projects that would challenge their international monopoly on money, and this certainly will not be the last attack on DeFi. Today’s it’s Luna, tomorrow it could be a different project. Anyone that thinks TradFi is going to sit idly by while their money monopoly is being challenged is simply delusional.

I thought Luna was a great project but even I could see this attack coming a year ago, an attack that is done to destroy DeFi, get people to turn on each other, and beg for regulation from the attackers. Judging from the comments on this forum, it appears to be working.

It doesn’t matter if someone builds the best L1 and DeFi platform in the world, if it grows big enough in popularity and becomes enough of a threat, it will be attacked by TradFi one way or another. Even Bitcoin can come under a 51% attack and everyone must keep in mind TradFi is “investing” in BTC miners.

What happened sucks, but not surprising ever since all the crypto influencers and shills welcomed TradFi with open arms into the crypto space to make a quick buck. Well, it turns out that buck was not so quick and the enemy is within the gates.

So what’s the message here? If someone builds a DeFi platform that comes under attack from TradFi with its literally unlimited resources (central banks, governments, armies, intelligence agencies, big tech), the builders of DeFi are the problem for not having unlimited resources themselves?

The reality is most people here work and pay taxes everyday to the attackers and are not without blame themselves. This has been the case for centuries and was written at length in 1870 in an essay titled “No Treason No 6: The Constitution of No Authority” by American essayist and anarchist Lysander Spooner who concluded:

The lesson taught by all these facts is this: As long as mankind continue to pay “National Debts,” so-called – that is, so long as they are such dupes and cowards as to pay for being cheated, plundered, enslaved, and murdered – so long there will be enough to lend the money for those purposes; and with that money a plenty of tools, called soldiers, can be hired to keep them in subjection. But when they refuse any longer to pay for being thus cheated, plundered, enslaved, and murdered, they will cease to have cheats, and usurpers, and robbers, and murderers and blood-money loan-mongers for masters.

So yeah you can blame Terra, Do Kwon, and everything but the attackers themselves who seek to maintain their global money monopoly by any means necessary, but you’ll end right back up at Square 1 and eventually in a cashless society with CBDCs and a metaverse where you will own nothing and be happy.