Bitcoin - Where Does the Yield Come From?

I think the question that people should ask themselves is where does the yield come from? I think it's too bad that SPF bailed out block five. The problem is that in order for you to actually be competent at borrowing and lending Bitcoin, same thing with market making or trading, you have to be a professional. And so there's just no history of credit in Bitcoin to base your models on. It's fully opaque. Even on top of that, somebody like BlockFi, when you lend your coins to them, maybe you did your due diligence and everything was great. And then a month later, they changed their terms of service. They go and make a stupid loan to three arrows

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