Contagions and Cascading Liquidations in Cryptocurrency - Episode 83

[@InturnetHaetMachine]

My favorite part of DeFi is how centralized it is. Also good to know that Fed thinks that crypto problems won't bleed over in a systemic risk, just like Bernanke in 07 knew that "The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained."

[@wizzyno1566]

Crypto is a self referential circle jerk, so nothing like 2007.

[@Caddrel]

Love that you do these shorter form videos with just the two of you, in addition to the longer videos with guests.

[@greghcarr8192]

The only videos I open immediately when I see them in my feed are the ones from you guys. Thanks for covering all the news stuff. Hard to keep up nowadays.

[@CryptoCriticPod]

Thank you!

[@gjergjik]

Guys Awesome Episode! I was looking at the Tether Market Cap going down and the price has been under 1dollar most of the time. What that means is there are hedge funds arbitraging the market cap down. Even if its 100% backed at thing point they can keep squeezing tether out until they tether can't redeem. So arbitrage the price make money and put it up for a short against tether make money all the way down (if you are a hedge fund that can redeem 100K at a time). Its almost the same death spiral that Luna had except there is a cliff at some unknown point.

[@gjergjik]

My guess is Tether goes off the cliff before they hit a market cap of 50B. I just can't picture a world where they can redeem another 16B Dollans

[@xSilverFernx]

Thank you for this video! I am eagerly expecting every new episode, re-listening to old ones, and checking your Twitter pages for news. I really appreciate your clear communication, acknowledging the limitations of the position you're in. Bennett's ability to explain why contagion won't spread with a straight face is both hilarious and indicative of how done he is with the nonsense Tether is spouting. Cas' frankness about the hazards of predicting the future of crypto also made me laugh.

[@CPalanysamy]

Contagion is a decent movie :D Besides that, incredible how the promise of decentralization (which is a mythological animal everyone attributes different characteristics and magics to) brought systems and protocolos with very weak single points of failure. Amazing program, just hoping they get longer!

[@qwerty_artist]

Thanks for linking to related episodes in the description, feels like a scavenger hunt to watch them all and understand the mystery I'd also like to recommend episode 'Immutable' by Trail of Bits (another podcast) on the subject of decentralization (or lack thereof)

[@nighticeeee]

At this point Bitcoin has so many VC and Hedges leveraged that'll they'll keep on funneling in hundreds of millions to keep the price at a fixed value like 20k then letting it fall to say 9k. Whether it's tech companies like Uber who've never turned a profit or crypto, "investing" in modern day is something

[@roadrunne255]

My team lead at work told me a few months ago that he invested in a few different cryptos because his cousin told him how hot they all are. For me, this was a big red flag because he basically admitted he doesn't know how they work and his motivation was just for easy profit (basically). WELL in the office this past Thursday, I brought up some of the crazy crypto stories recently and he told me he sold all his recent crypto holdings, and Tera was one of them. Ouch. Shit like this just makes me sad. A lot of people just don't understand the different layers of all the sorts of investments they get into.

[@connierahim9259]

is your team lead going to be homeless and have to sell his organs? hope so!

[@Savukala]

Nice to see new videos, thank you very much for the insight once again ❤️

[@qwerty_artist]

Hey hey hey, I can't believe my first disagreement with you guys is over a movie I had to watch Contagion multiple times throughout biomedical classes, maybe it just caught me off guard cause I actually enjoyed it 🤷‍♂️

[@victorsanchez733]

Great episode as always. What you talk about in the last part is right on point. So far none of what has happened in the crypto market has been a surprise to me, in part thanks to you guys, to me this is all a healthy correction from the overhyped and overinflated market we've had for the last two years. However, the only thing that does worry me is a centralized exchange like binance shutting down. If that happened, it would be the point where I would actually start to worry about cryptos and stop thinking its just natural market behaviour. I would really love if you did indeed elaborate a bit more on the current risks of an actual black swan event like this happening in another episode.

[@yupi166]

I didn't know this video existed! Thanks bro! Really grateful.

[@billf8217]

Love the episode. The end: maybe too soon. Generally love the snark tho!

[@EdMan102292]

As to the idea that Tether weathered a previous Bear market: crypto as a whole hasn't really ever seen a Bear market at the macro level. It's only ever existed with low interest rates and low inflation.

[@jmitterii2]

And lots of real money billionaires or those with access to real money leveraged billions to throw at the garbage. Which could present a pump and dump.... see people of the world, this stuff is worth thousands, no tens of thousands... NO hundreds of thousands... NO MILLIONS NO Hundreds of millions! NO Billions per crypto unit! And this lures fomo of real money like myself and many others to see what the insanity is all about. We gambled in it... traded it... some of us were skeptical the entire time, and just out of look to your left buy the dips, we rip learn fib extensions and trend lines and trade them... then before it went bust we sold our lost highs and then took our money off the casinos and took a break and read about where all this liquidity was really coming from and just gave up bothering with the sandwich cluster mug of Ponzi and pyramid schemes.

[@sunnohh]

In the vocal style of the simpsons episode “last exit to Springfield” dental plan: BANK RUN

[@roadrunne255]

I think moreso what makes crypto a "systemic" risk, is the change in attitude and habits from the average ppl negatively affected. It's just another example of them getting misled and not trusting the "system" and not wanting to buy into it anymore.

[@nateo6806]

You guys are seriously underrated as a channel. Have you ever thought of talking to Emil Kalinowski and Jeff Snider over at Eurodollar University? Would love to listen to that chat.

[@LeroyPeterson]

Contagions a good movie!

[@smc4229]

The rare red/black duality of man

[@isaiahearhart2147]

Great content, thank you.

[@alexamadams]

Fantastic episode 👏

[@CryptoCriticPod]

Thank you!

[@bobkmak3470]

Are you planning on making an episode on the coinFLEX collapse?

[@CryptoCriticPod]

Maybe! There’s lots of stories right now!

[@qwerty_artist]

I really hope so! Reading about it and how many others are connected somehow and also on the verge/ collapsing/ collapsed, is a ride

[@DJDiskmachine]

Too bad you're not doing good Cas, get well!

[@barl3857]

I guess this is why self custody is important

[@cutback443]

thanks guys!!

[@gomesdiogo]

this is it, ty

[@jackiechan8840]

2008... But decentralised. Supposedly.

[@mohamednagibyoussef1382]

Cause he knows the struggles that i'm going threw right now

[@jbug1979]

this was recorded on june 16th?

[@CryptoCriticPod]

Yes!

[@purplepurrpurrin]

Lot of C words to think about these days

[@Catechumen_01]

How can “DeFi” entities have systemic risks? Something is rotten in the state of Denmark

[@CryptoCriticPod]

Which entity that we discussed do you consider a DeFi entity?

[@Catechumen_01]

@@CryptoCriticPod It seems none, but is that not what they all claim?

[@slomnim]

I don't understand why y'all wait a whole month to post these talks...? This was pretty big news and you're only posting the discussion after it happened?

[@allen-simpson]

HOW red is your jacket, exactly?

[@volvo09]

RRRREEEEDDDD!!!!!!!

[@CryptoCriticPod]

Like on a scale from the wall to the sun?

[@dalgray]

The worlds best athletic therapists like to joke that they when they do their job properly, they work themselves out of a job. If y'all can pivot your epidemiology skills towards that of a clinician who can heal and prevent future injury, you might also get a chance to work with some very high-functioning & impressive specimens someday. Or just take what left of Cas's Three Arrows and go hunting Illithids, I've heard rumours that some culinary markets pay a pretty Tether for those heehee.

[@connierahim9259]

Do you have someone scrubbing the comment threads of that despicable spam by crypto con artists? It is refreshing to see none of that BS

[@CryptoCriticPod]

It is me! (Bennett) Also, our producer Asher!

[@iGuide_net]

I enjoy the high IQs here.

[@Julianchuk]

Always funny to watch the crypto gossip girls from crypto.

[@calz7744]

Haha, outro

[@CryptoCriticPod]

Cas is ruined

[@nucemgd]

june 16th?? c'mon it's June 30th!!

[@CryptoCriticPod]

Luckily our predictions ended up playing out

[@nucemgd]

@@CryptoCriticPod I know but I need FRESH content

[@yvelaine]

Coinabilism.