In this week's episode, sprocket888 and viperxl007 lift crypto and look at the ugly underbelly. There are many episodes about the space's benefits and high points. This episode takes a look at some of the dangers and ugly underpinnings. The caution can be summed up in the phrase 'if something seems too good to be true, it probably is.' There are a lot of innovative and cool products in the crypto space, but there are even more 'scams,' 'poorly built products,' and 'unsustainable promises' floating out there. If you slow down and spend the time to understand HOW and WHY something works, you are very likely to be capable on your own of sorting the wheat from the chaff.

  • 00:00 Disclaimer
  • 00:21 Intro
  • 01:06 Looking at the dirt under the crypto rock
  • 04:58 Moments of despair do not always negate the underlying technology
  • 06:00 Insider trading, the age-old financial crime
  • 08:08 A lot of crypto today operates like traditional finance without ANY regulation or protections
  • 14:28 Celsius began to freeze up with impending insolvency
  • 16:21 The Celsius insolvency kicked off with the depeg of Luna
  • 21:33 Three Arrows Capital was heavily entrenched in Luna
  • 22:17 Ripple effects slammed Voyager
  • 23:11 Voyager was similar to Robinhood for crypto
  • 24:15 12% annual return with no lockups (Too good to be sustained)
  • 25:35 WHERE do the returns come from?
  • 26:39 viper used Voyager for a short spell; why did he leave?
  • 29:48 Ownership: Don't forfeit this too quickly; it is the magic to building wealth
  • 31:35 some platforms allow you to retain ownership
  • 33:02 Aave has the same goal as Voyager and Celsius, but total transparency and contract protections
  • 35:47 How does Aave protect the lender, and what if the borrower defaults?
  • 40:17 Understanding the HOW will go a long way to help you make smarter choices
  • 42:20 Crypto is ripe for regulation right now
  • 44:15 Closing: Regulation and oversight are needed. Otherwise, we are destined to repeat history
  • 47:55 Outro

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