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In this video, I discuss the highly centralized nature of DeFi protocols that pretend to be decentralized.
DeFi built on Ethereum borrows key principles from Bitcoin, but tries to recreate something that can never be recreated: original digital scarcity.
A great example is the DeFi project COVER, which was recently shut down by a single person. If a single person can turn off your protocol, it might not actually be that decentralized at all.
The SEC is now investigating Uniswap. This is impossible to do with Bitcoin, since there is no headquarters, no CEO, and no legal counsel.
Not investment advice! Consult a financial advisor.
COVER protocol is hot:
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COVER protocol is not:
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DeFi Exploits:
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SEC is investigating Uniswap:
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I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
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Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.
