DECENTRALIZED
Lorraine Mutyaba
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Top 10 DECENTRALIZED Episodes
Goodpods has curated a list of the 10 best DECENTRALIZED episodes, ranked by the number of listens and likes each episode have garnered from our listeners. If you are listening to DECENTRALIZED for the first time, there's no better place to start than with one of these standout episodes. If you are a fan of the show, vote for your favorite DECENTRALIZED episode by adding your comments to the episode page.
07/12/22 • 14 min
Episode Highlights
Macro conditions have not spared the crypto markets.
The implosion of UST/LUNA, and crises in the centralized crypto lending space have further shaken investor confidence.
Regulation might be needed to protect crypto lending firms from themselves and to protect investors
Retail investors need to protect themselves as well.
Episode Links:
Celsius:
https://www.coindesk.com/business/2022/06/16/how-crypto-lender-celsius-overheated/
3AC:
https://cointelegraph.com/news/three-arrows-capital-has-failed-to-meet-margin-calls-report
https://www.theblock.co/post/155578/three-arrows-capital-files-for-chapter-15-bankruptcy-in-new-york
Exposure to 3AC
Blockfi: https://blockfi.com/a-message-from-our-founders-july-2022
Voyager: https://www.newswire.ca/news-releases/voyager-digital-provides-market-update-825686912.html
Genesis:https://cointelegraph.com/news/genesis-trading-ceo-confirms-3ac-exposure-parent-company-helps-plug-losses
Blockchain.com: https://www.coindesk.com/business/2022/07/08/crypto-exchange-blockchaincom-faces-250m-hit-on-loans-to-three-arrows-capital/
10/11/22 • 11 min
Episode Highlights
- Public Wi-Fi is not secure, for the most part. If you must use public Wi-fi, then consider downloading a VPN
- If you can, use a designated malware-free device for all crypto-related activities, and limit the amount of time that it is connected to Wi-Fi
- Bookmark all the crypto websites that you frequently visit, and always double- and triple-check their URLs before entering any login credentials
- Enable multiple-factor authentication for all accounts. The harder it is for you to log into your account, the harder it will be for a bad actor to do so as well.
- Backup all wallet recovery phrases, keys, and seed phrases, and 2fa recovery codes.
Helpful links
- https://www.nytimes.com/2021/01/13/business/tens-of-billions-worth-of-bitcoin-have-been-locked-by-people-who-forgot-their-key.html
- https://beincrypto.com/fake-crypto-exchanges-dupe-indians-128m-binance-investor-education/
- https://cointelegraph.com/news/fbi-issues-public-warning-over-fake-crypto-apps
Google Authenticator and Authy
09/25/22 • 12 min
Episode Highlights
- Crypto wallets give you access to your cryptoassets; they do not store your crypto
- Public addresses are derived from public keys, which are derived from private keys; crypto is sent to a public address, while private keys prove ownership of that crypto, allowing you to spend it
- Private keys should be kept safe and offline; moreover, they should be backed up
- There are pros and cons to using non-custodial and custodial (crypto exchange) wallets
- Your choice of non-custodial wallet depends on your investment strategy and whether you prioritize convenience or security
Helpful links
- Coinbase’s Terms of Service: https://www.coinbase.com/legal/user_agreement/united_states
- Celsius freezing withdrawals: https://www.coindesk.com/policy/2022/06/13/crypto-lending-service-celsius-pauses-withdrawals-citing-extreme-market-conditions/
- Voyager limiting withdrawals: https://www.coindesk.com/business/2022/06/23/voyager-digital-cuts-daily-withdrawal-limit-to-10k-amid-3ac-exposure/
- James Howells and the lost Bitcoins: https://www.newyorker.com/magazine/2021/12/13/half-a-billion-in-bitcoin-lost-in-the-dump
Select hot wallets
- https://www.myetherwallet.com
- https://mycrypto.com
- https://metamask.zendesk.com/hc/en-us
- https://trustwallet.com
- https://www.exodus.com
- https://www.coinomi.com/en/
Select cold wallets
09/11/22 • 12 min
Episode Highlights
- Peer-to-peer marketplaces are popular in Africa
- They give those who are unbanked access to the crypto economy
- They are fairly easy to use, offering a flexibility that you do not find on centralized exchanges
- Despite their merits, they have limitations
Helpful links
- https://qz.com/africa/2050735/kenyans-lead-the-world-in-peer-to-peer-crypto-trade/
- https://www.nasdaq.com/articles/kenyans-can-now-buy-and-sell-crypto-through-paxfuls-p2p-marketplace-2020-12-10
Peer-to-peer marketplaces
- Paxful: https://paxful.com
- LocalBitcoins: https://localbitcoins.com
- Binance Marketplace: https://p2p.binance.com/en
E4: Crypto basics: Exchanges and how to buy crypto
DECENTRALIZED
08/30/22 • 12 min
Episode Highlights
Centralized exchanges facilitate the buying and selling of crypto
Signing up for an account on an exchange is fairly straightforward
Always do your due diligence before you sign up for an account; in particular, read the terms of service.
Funding a crypto account can sometimes be convoluted.
There are various exchanges that Ugandans can use.
Helpful links
Exchanges
- Binance: https://www.binance.com/en
- Kraken: https://www.kraken.com
- Coinbase: https://www.coinbase.com
- Kucoin: https://www.kucoin.com
- Bitstamp: https://www.bitstamp.net
- Gemini: https://www.gemini.com
Exchange hacks
Mt Gox hack 2014: https://www.investopedia.com/terms/m/mt-gox.asp
Binance hack 2019: https://www.coindesk.com/markets/2019/05/07/hackers-steal-407-million-in-bitcoin-from-crypto-exchange-binance/
Terms of service
Coinbase terms of service: https://africa.businessinsider.com/tech-insider/coinbase-warns-users-could-lose-their-crypto-holdings-if-the-company-goes-bankrupt/r6bs75w
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001679788/89c60d81-41a2-4a3c-86fb-b4067ab1016c.pdf
E3: Implosions in the crypto market: Lessons Learned
DECENTRALIZED
07/27/22 • 13 min
Highlights
- FUD (Fear, Uncertainty, and Doubt) is not always FUD.
- There is no substitute to doing your own due diligence in the crypto space.
- Always invest what you are prepared to lose.
Additional reading
- Taiwan bans credit card cryptocurrency purchases: https://www.coindesk.com/policy/2022/07/22/taiwan-set-to-ban-crypto-purchases-using-credit-cards-report/
- Deloitte survey: http://uk.businessinsider.com/deloitte-study-91-percent-agree-terms-of-service-without-reading-2017-11
- Celsius Terms of Service: https://fortune.com/2022/06/14/celsius-network-terms-of-use-bankruptcy-digital-assets-deposit-insurance-fdic/
- Celsius “FUD”: https://www.coindesk.com/business/2020/07/28/what-crypto-lender-celsius-isnt-telling-its-depositors/
- Terra/UST “FUD”: https://www.bloomberg.com/news/articles/2022-05-15/luna-crash-this-crypto-insider-warned-of-terra-ust-s-collapse?sref=zVYYYI5e
- 3AC:https://cointelegraph.com/news/3ac-founders-reveal-ties-to-terra-founder-blame-overconfidence-for-collapse
Some crypto-specific news websites
- Coindesk: https://www.coindesk.com
- Cointelegraph: https://cointelegraph.com
- The Block: https://www.theblock.co
- Decrypt: https://decrypt.co
E1 An intro to Crypto
DECENTRALIZED
06/27/22 • 15 min
The crypto space is imperfect and ever-evolving, with tremendous potential There is more to crypto than Bitcoin, Ethereum, and Dogecoin. Approximately 97% of the cryptocurrencies listed on Coinmarketcap are vaporware DeFi, Web3.0, the Metaverse, and crypto infrastructure are the crypto sectors seeing the most development
Episode Links
Coinmarketcap: https://coinmarketcap.com
Satoshi Nakamoto ‘s Bitcoin whitepaper: https://www.google.com/search?client=safari&rls=en&q=bitcoin+whitepaper&ie=UTF-8&oe=UTF-8
Further Reading
DeFi: https://www.coindesk.com/learn/what-is-defi/
Web3.0: https://coinmarketcap.com/alexandria/article/what-is-web-3-0
Episode 13: Whataboutism and illegal activities
DECENTRALIZED
06/05/23 • 10 min
Episode Highlights
- Crypto does “present opportunities for the downright criminal” but those can be limited and law enforcement’s ability to tackle crypto crime has improved.
- In certain countries and among certain populations, crypto is an alternative to fiat––it is a store of value, used to conduct cross-border transfers, and serves as a medium of exchange.
- Most illicit crypto transactions involve centralized crypto entities or exchanges that lack strong know-your-customer (KYC) and anti-money laundering (AML) policies.
- The decentralized nature of the crypto space necessitates innovative approaches to combat illegal activities. However, its open nature could also limit criminal activity.
Helpful links
- https://decrypt.co/96822/bank-of-england-governor-bailey-sounds-alarm-on-crypto-scams
- https://www.reuters.com/markets/europe/deutsche-bank-263-mln-shareholder-settlement-over-epstein-russian-oligarch-ties-2022-09-23/
- https://beincrypto.com/tethers-2022-settlement-volume-flips-visa-and-mastercard/
- https://go.chainalysis.com/rs/503-FAP-074/images/Crypto-Crime-Report-2022.pdf
- https://www.bou.or.ug/bou/bouwebsite/bouwebsitecontent/MonetaryPolicy/Monetary_Policy_Statements/Monetary-Policy-Statement-for-February-2023.pdf
- https://www.reuters.com/business/argentinas-economic-crisis-whack-a-mole-goes-into-overdrive-2022-06-28/
- https://www.nytimes.com/2022/08/20/world/americas/argentina-cryptocurrency-value.html
04/08/23 • 11 min
Episode Highlights
Stable coins were created to provide stability to crypto assets by being pegged to a stable asset like the US dollar.
Stable coins are integral to the crypto space, and transactions involving them accounted for $1 trillion in 2022.
The failure of SVB caused the value of USDC, the second largest stable coin, to drop to $0.82 on certain protocols, as $ 3 billion of Circle's cash reserves were held by SVB, and only $250,000 was insured. This led to panic among USDC holders, which led to USDC’s drop in value.
Stable coins are subject to the vagaries of human nature and counterparty risks, and their success is dependent on the confidence people have in them.
There is a need for more robust stable coins, because their usage and adoption is based on their perceived stability.
Additional reading
- https://www.coindesk.com/learn/why-stablecoin-usdcs-unstable-weekend-matters/
- https://cointelegraph.com/news/usdc-depegged-but-it-s-not-going-to-default
Fiat-backed stable coins
- https://www.coindesk.com/learn/fiat-backed-stablecoins-what-you-need-to-know-about-tether-usd-coin-and-others/
- https://www.coindesk.com/learn/whats-the-point-of-stablecoins-understanding-why-they-exist/
Stable coin usage and adoption
- https://thedefiant.io/stablecoin-volume-hits-record-high-of-7-4t-in-2022
- https://www.bloomberg.com/news/articles/2022-05-29/moneygram-ceo-sees-a-future-in-stablecoin-remittances
Crypto-specific news websites
- Coinmarketcap: https://coinmarketcap.com
- Coindesk: https://www.coindesk.com
- Cointelegraph: https://cointelegraph.com
- The Block: https://www.theblock.co
- Decrypt: https://decrypt.co
03/21/23 • 10 min
Episode Highlights
Three US banks, Silvergate Bank, Signature Bank, and Silicon Valley Bank, failed days apart. Although all banks were crypto friendly, crypto was not to blame for their collapse. Bank runs, dwindling deposits, and losses sustained following the sale of long-date government bonds contributed significantly to their failure.
Other banks serving disparate customers have experienced similar headwinds. The number of banks willing to serve crypto banks has reduced.USDC and other stable coins lost their $1 peg following the collapse of SVB but have since recovered.
Additional reading
Collapse of SVB, Signature, and Silvergate
- https://www.theguardian.com/business/2023/mar/13/silicon-valley-bank-why-did-it-collapse-and-is-this-the-start-of-a-banking-crisis
- https://www.investopedia.com/signature-ny-real-estatefor-real-estate-7367631
- https://cointelegraph.com/news/silvergate-silicon-valley-bank-collapses-represent-a-big-challenge-for-crypto
https://www.reuters.com/technology/crypto-focused-bank-silvergate-plans-wind-down-operations-2023-03-08/
Stable coins depeg
- https://decrypt.co/123211/usdc-stablecoin-depegs-90-cents-circle-exposure-silicon-valley-bank
- https://www.coindesk.com/markets/2023/03/11/usdc-stablecoin-and-crypto-market-go-haywire-after-silicon-valley-bank-collapses/
- https://www.coindesk.com/business/2023/03/11/circle-confirms-33b-of-usdcs-cash-reserves-stuck-at-failed-silicon-valley-bank/
- https://www.coindesk.com/markets/2023/03/11/dai-depegs-as-stablecoin-rout-plagues-crypto/
Crypto-specific news websites
- Coinmarketcap: https://coinmarketcap.com
- Coindesk: https://www.coindesk.com
- Cointelegraph: https://cointelegraph.com
- The Block: https://www.theblock.co
- Decrypt: https://decrypt.co
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FAQ
How many episodes does DECENTRALIZED have?
DECENTRALIZED currently has 13 episodes available.
What topics does DECENTRALIZED cover?
The podcast is about Blockchain, Investing, Crypto, Podcasts, Technology and Business.
What is the most popular episode on DECENTRALIZED?
The episode title 'Episode 13: Whataboutism and illegal activities' is the most popular.
What is the average episode length on DECENTRALIZED?
The average episode length on DECENTRALIZED is 13 minutes.
How often are episodes of DECENTRALIZED released?
Episodes of DECENTRALIZED are typically released every 15 days, 9 hours.
When was the first episode of DECENTRALIZED?
The first episode of DECENTRALIZED was released on Jun 27, 2022.
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