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No.54 🍗 No one cares about crypto at Thanksgiving dinner. We do.

No.54 🍗 No one cares about crypto at Thanksgiving dinner. We do.

December 26, 2022

Thanks. Merci. No one cares about your crypto at Thanksgiving dinner. 🍗 Is DeFi sus or is we we're asking the wrong questions? 🧐 Cheres app plug 🔌 and features 🫧 Vladdycakes' damage to EU's gas supply and new strategies ⛽️

No one cares about your crypto crap at Thanksgiving dinner 🍗So, you've finally arrived to your home town and your fam reminds you of last year's stocks & crypto recommendations…If you've gone to your neighborhood cafe already, you've also probably realized no one knows who FTX and SBF are. 👏👏 Proud of you. We are the same.

In the case you're weird like me, cheri 🍒, I'll give you the hit you've been looking for. Today's story is called:

Why crypto's so sus 🧐…let's go. What's trust got to do, got to do with it? More like money... The thing about our centralized banking system is there will always be someone falling off the ethics wagon and being seduced by good ol' corporate greed. Now, a company committing fraud using customers' funds? Well, that's scam can tank your entire wealth…DeFi was supposed to solve that…

People keep talking about FTX questioning if DeFi's no longer as viable as we all thought in principle but the reality is it's a different question. Are crypto or DeFi the problem or is it that FTX had no board of directors and governance? AKA, is they had a poorly ran business with no one holding SBF accountable?

DeFi makes sure of the absence of the likes of SBFs or a bank (a person or entity has power over the holding assets). Most ppl use centralized exchanges where the governance is still an entity or individual. So instead of using Uniswap (decentralized exchange), many had their money in FTX (centralized exchange).

So go out into the wild, and ask your family who's to blame…is it truly crypto, DeFi, or is it their exchange selection, which at the end of the day, acts more like a bank without the assets? 😳

🇷🇺 Vladdycakes' damage to EU doesn't stop at gas shortages ⛽

🇪🇺 Europe's been getting its gas from Russia for decades. EU's 40% of the gas was coming from Russia before the war on Ukraine started. The gas was cheap and cleaner than coal. After the sanctions, Russia stopped giving them gas. As of autumn, EU's Russian gas supply dropped to ~9%… 🔽

So besides gas, EU did scram through to harness different sources of energy but...nuclear and hydropower didn't do well. Why? Maintenance delays and climate change. 🥵

So what's next?

European Commission's put out a plan that would, as they say, kill two birds with one stone. They're thinking of leaning into renewable energy to rid of any dependence on Russia + make some progress towards its climate goals.But it's not gonna be easy, experts think. It's gonna have to spend major bucks and all of the European countries will need to behave super chummy, if EU wanna meet its climate goals.