Why Bankers Should Sh*t Themselves

Why banks aren’t good

To fully understand why it’s good that banks are being replaced, you need to understand how a bank operates. Banks are for-profit companies. They want to make money off your money. The second you put your money in a bank, they move it around, invest it, loan it, etc. Back in the day, they still shared some of the winnings with you through interest. Now? Nothing.

Cool projects in De-Fi


Okay, now you understand how banks are pure shit. What now? De-Fi baby!! Instead of putting that precious money into a savings account, while inflation eats it, you could put it into a De-Fi platform that pays you an APY for it. Or simply said, you get more money by putting money in there. Amazing right?!


Another weird space that’s finally getting the traditional media’s attention are NFTs, Non-Fungible Tokens. Why is it weird you may ask? Because they’re like digital collectables that exist on the blockchain. So you can buy cool art from people and own it digitally. Well, can’t anyone just screenshot it? Yep! Told you it’s weird.

Why De-Fi is better

Bye bye human errors

Humans make a lot of mistakes. A bit too many actually. Tired overworking people just overlooking a simple number and BAM! You accidentally caused a financial crisis. Okay, maybe I’m exaggerating just a tad. But accidental errors do happen all the time when you work with humans, especially in the finance sector.

No-loss lotteries

Lotteries and gambling games currently take a cut of all the money they receive before giving it to the winner. You could create a smart contract that does everything automatically. I will create a simple version of this kind of lottery system soon, so stay tuned!

Permissionless transactions

Currently, you need the approval of a bank to send a transaction somewhere. They can just stop the transaction if they want to. In De-Fi everything that’s yours, is in your control. So you can withdraw all your money without any permission.


How do the transactions work on a De-Fi platform?

For normal people

The dApps will interact with a smart contract. Then the transaction is sent to the blockchain, and once verified, it’ll go to the account to whom you wanted to send a transaction.

For nerds


Okay, all of this sounds good, but is there anything you should worry about. Nothing is perfect.

Accidental mistakes

De-Fi comes with its shortcomings. Since the power is in your hands, the responsibility is also in your hands. That means if you make a stupid mistake, which costs a lot, you can’t contact the bank to revert whatever you did. You pay the price.

Blockchain trilemma

Another problem is scalability. When the blockchain grows a lot it faces two main problems. Either the blockchain is extremely slow, or it’s very expensive. You can see this in the Etherium blockchain at the moment. The gas fees are extremely high. This problem is a part of the blockchain trilemma. It states that you can only achieve one out of the three mentioned in the picture below.

Smart contracts

All the De-Fi projects work through smart contracts. If there is a minuscule error in the code, it can lead to an immense loss of money. And as said before, you can’t change data on the blockchain, so updating a smart contract isn’t the easiest.

Low liquidity

Liquidity could be considered as one of the most important things in De-Fi projects. And sadly enough the total liquidity of De-Fi doesn’t come close to traditional finance.



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Felix Tikkanen

Felix Tikkanen


A 17-year-old teenager trying to become the best version possible. I write about blockchain/crypto and self-improvement.