Hey yo, what is going on with the viewers across the tubbee!
Let me first introduce myself as Tyler, the host of the channel, that feels like we are
all Hariet once in awhile…..you know how we virtual class clown, it’s time for Chico
Crypto!
Well from the title and thumbnail, I bet you could tell this video is focused on the protocol
that is Ethereum.
If you have watched my channel for any amount of time, you have to know that I’m a fan
of what Ethereum has built...the multiple token offerings & smart contracts, sets the
foundation for a DeFi ecosystem that is going to be hard to compete with.
But, we know, as the markets start to bubble, the ethereum “competitors” will crawl
out from in their caves.
Claiming high TPS, massive throughput, and we are decentralized not centralized.
And like clockwork, Binance, who I have been saying is attempting to take over the entire
crypto markets, and put it in their pocket.
Has decided to launch their Ethereum competitor.
Now, as we know, CZ Binance is a scumbag liar, but let’s expose his lies some more why
don’t we.
Back when Binance launched the original Binance chain, only a year ago, CZ tweeted in response
to an article, saying the chain challenged Ethereum.
“Thanks for the nice article!
But almost too supportive.
lol.
@Binance_DEX does not challenge Ethereum, it doesn't even have smart contracts.
It challenges ourselves, exchanges.
:)
Well as I’ve shown over, and over again, the Binance DEX has been a failure, it is
getting crushed by other DEX’s, true DEX’s that are actually decentralized & powered
by...guess what Ethereum!
So, Binance, is doing what they do best….creating a centralized, Ethereum “compatible” aka
copied and pasted, chain which can handle smart contracts.
It’s their attempt to set themselves up to take a piece of the DeFi pie...that is
all this is.
Why do you think the Bida, was recently launched?
Bidao is going to creat BAI, the Binance chain competitor to Dai, and MakerDao.
Bidao has a whitepaper, explaining how it will work, just like makerdao and dai, where
Ethereum is the collateral and the settlement layer, except BNB is the collateral token,
and Binance chain is the settlement layer.
Well, what the ignorant didn’t get, when Bidao was launched, is if you want to have
a stablecoin, like DAI, your settlement layer needs to have smart contracts, which Binance
chain didn’t.
But now we have a whitepaper out of a smart contract binance chain, which if bidao ever
wants to launch Bai, they need smart contracts, so they have to wait for this “new” binance
chain to launch, before work even gets performed.
And things, get pretty disgusting with Bidao, so they partnered with another Binance DeFi
shill, Tellor...the oracle competitor to Chainlink, that was in February….well guess what Bidao,
Did?
They dropped Tellor, and did the “chainlink” partnership thing, trying to get a pump….
So with all of that in mind, please oh please, quit using and supporting Binance and projects
who partner with them.
Birds of a feather flock together, and those who switch fully to the darkside of Binance
chain usually share the same Ethos, of CZ and the Binance cartel.
Lie, Cheat, and steal your way to the top.
But let’s get into the good of decentralization, and step away from centralized fakers….so
it’s obvious to see, Ethereum is becoming the gravity well of tokenized assets, and
specifically it can be seen through stablecoins.
On Wednesday, April 15th, Messari researcher Ryan Watkins published a new report titled
“Q1 2020 Review: Stablecoins Ascend to New Heights in Global Economic Downturn.”
And in the report, it shows Ethereum is looking to become the crypto economies main payment
rail.
Specifically, ethereum and bitcoin daily adjusted transfer values, reached parity this Month,
about 1.5 billion transferred on each.
And we know why that is happening...Tether USDT, is moving over to Ethereum.
Coinmetrics data shows that supply parity was reached at the end of October last year,
and since, Ethereum USDT, has been flying compared with BTC...we have over 4.8 billion
USDT minted on Ethereum, versus only over 1.5 billion on Bitcoins Omni Layer.
Same thing can be seen, with the number of active addresses, although parity crossed
2 months earlier, In august of 2019
So when people say Ethereum can't scale, I say Bitcoin please….checking out the number
of transactions, Ethereum reached parity with BTC all the way back in July of 2017, and
since has been growing it’s gap.
As of today, Ethereum is doing over 800k transactions per day, while Bitcoin is just over 300k.
Although unfortunately, since the Tether printer started to goooo brrrrrr….the supply of
stablecoins on Ethereum is getting purely dominated by the centralzied USDT...man if
only there was something out there, which would allow these other stablecoins to gain
more traction.
Well there is something coming soon, and it even does something in DeFi with bitcoin right
now.
That project is PieDao which dives us deeper into the world of DeFi, as the DAO or decentralized
autonomous organization in PieDAO is powered by the DAO Construction protocol, Aragon built
on top of Ethereum..
So let’s start out with their Bitcoin product, as that is out right now.
This is called BTC++.
So you guys remember, this video, Ethereum is a better buy than Bitcoin.
Here’s why?
It’s because bitcoin is being brought to Ethereum.
I went over some of the top projects in that video...well PieDao, is making the risk of
putting your BTC on Ethereum about as low as it can get, as they spread it across the
multiple protocols being built and then wrap it all up into one token, BTC++.
So if one protocol goes bust, you don’t lose everything.
As 1 Bitcoin is over 7gs.
And it is live right now, as of April 7th, and they put some dope buffet artwork to go
along with the tweet announcing the launch, as well as trading live on Uniswap.
And right now allocation of BTC++ goes like this, 25% wrapped bitcoin WBTC, 25 percent
Synthetix Bitcoin sBTC, 25% pTokens BTC pBTC, and 25% imBTC from Tokenlon.
It spreads your risk across the live Bitcoin on Ethereum assets.
And as more go live like tBTC and ren’s BTC...they will add them.
But the stablecoin, is key, as they are coming out with USD++ which will diversify your stablecoin
risk across the multiple protocols.
Now this one is huge, and I could see USD++, becoming a mass used coin, as diversification
of risk across protocols is going to be key in a world of smart contracts that are still
turning complete.
Audits can only do so much, and vulnerabilities will show up in DeFi projects.
This eliminates putting all your eggs in one stablecoin basket.
But what else, is coming regarding Ethereum, that will make it unstoppable?
Decentralized hosting, and the creation of decentralized websites just got a whole hell
of a lot easier.
As of the weekend, you can now upload directly to IPFS, from the Ethereum Name Service manager.
Which was put together in collaboration with Temporal cloud, the enterprise IPFS and data
storage platform.
Hrmmm….then going to Temporal Cloud’s site, their partners are pretty interesting,
Chainlink, ENS, and even the EEA.
But regarding IPFS, we gotta end this episode with some funny business….Tron’s IPFS
competitor Bittorrent, decided to do a rebrand.
With a new logo….hmmm doesn’t that look like IPFS’s logo...well the creator of IPFS,
Juan Benet, decided to speak up about this….he tweeted
“Aaaaaahahaha it’s not enough to fork all our code, rebrand it and lie its theirs;
copy paste random chunks of our papers, and defraud their investors with a nonsensical
mishmash.
Tron also can’t even think of an original logo” It’s really sad— BitTorrent used
to be great tech — our generation grew up admiring it and the team that put it together.
Such a shame to see this great name put through this kind of embarrassment.
Of which Justin Scamboi Sun, tweeted back “Seriously?
Do you own the Hexagon shape?
You need to reexamine your ego bro.
A shame that #IPFS hasn't delivered on filecoin system in 3 years & #BTFS/#BTT have been running
smoothly.
You're a vaporware scamming your investors w/ concept for a long time.
Shame on you!
I just have to LOL, because they did copy IPFS, and it does work you dumbshat, but Vitalik
took it over and replied to Justin “This tweet is honestly painful to read.
It's like looking at a zombie: the account *looks like* something you've grown up with
and known and loved for 15 years, but underneath it's just, well, now it's just another appendage
of the Sun dictatorship”
Like I said these centralized shatheads, who are best friends, shaking their booties together…..will
come at ethereum from all angles.
And we’re not gonna let them win.
Cheers I’ll see you next time!