DECENTRALIZED

Lorraine Mutyaba
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In this podcast, host Lorraine Mutyaba, a crypto enthusiast, demystifies the crypto space, sharing what she loves and hates about it, and what she’s learned about the crypto market since she was bitten by the bitcoin bug in 2013. Tune in to hear her discuss cryptocurrencies, crypto news and trends, market cycles, and interesting crypto projects and protocols. Disclosure: I hold some cryptocurrencies.

  1. 06/05/2023

    Episode 13: Whataboutism and illegal activities

    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-scamshttps://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.pdfhttps://www.bou.or.ug/bou/bouwebsite/bouwebsitecontent/MonetaryPolicy/Monetary_Policy_Statements/Monetary-Policy-Statement-for-February-2023.pdfhttps://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

  2. 04/08/2023

    Episode 12: The fragility of stable coins: SVB’s failure and the depegging of USDC

    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-defaultFiat-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-2022https://www.bloomberg.com/news/articles/2022-05-29/moneygram-ceo-sees-a-future-in-stablecoin-remittancesCrypto-specific news websites Coinmarketcap: https://coinmarketcap.comCoindesk: https://www.coindesk.comCointelegraph: https://cointelegraph.comThe Block: https://www.theblock.coDecrypt: https://decrypt.co

  3. 03/21/2023

    Episode 11: A banking crisis that was not fueled by crypto.

    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-crisishttps://www.investopedia.com/signature-ny-real-estatefor-real-estate-7367631https://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-bankhttps://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.comCoindesk: https://www.coindesk.comCointelegraph: https://cointelegraph.comThe Block: https://www.theblock.coDecrypt: https://decrypt.co

  4. 03/21/2023

    E10: The state of crypto affairs in 2023: market recovery and regulation

    SBF is awaiting trial after being indicted on eight counts, including securities fraud.  The prices of cryptocurrencies seem to be recovering from their 2022 lows. Tokens and coins associated with layer 2 solutions have outperformed Bitcoin and Ether over the last two months There have been louder calls for crypto regulation. Japan’s stringent crypto regulation prevented the collapse of FTX Japan; as  a result, FTX Japan’s users will be able to withdraw their crypto assets, unlike those of FTX.com Crypto regulation should be thoughtful and not stifle innovation. Additional reading Link to newsletter FTX, Genesis, and Gemini https://blockworks.co/news/new-ftx-ceo-says-exchange-commingled-assetshttps://www.coindesk.com/business/2023/01/20/genesis-global-files-for-bankruptcy-protection/https://www.reuters.com/business/finance/geminis-winklevoss-calls-removal-dcg-chief-barry-silbert-2023-01-10/Crypto Regulation https://www.japantimes.co.jp/news/2023/01/04/business/tech/japan-crypto-2022-review-regulation-future/https://beincrypto.com/hong-kong-open-door-crypto-efforts-bitcoin-high/https://www.coindesk.com/policy/2022/08/19/south-africas-monetary-authority-greenlights-banks-to-serve-crypto-clients/Crypto-specific news websites Coinmarketcap: https://coinmarketcap.comCoindesk: https://www.coindesk.comCointelegraph: https://cointelegraph.comThe Block: https://www.theblock.coDecrypt: https://decrypt.co

  5. 01/26/2023

    E9: Crypto News: The Ethereum Merge, collapse of FTX and Alameda research, soul searching in the centralized crypto space.

    Episode Highlights Ethereum has transitioned to the more energy-efficient proof of stake consensus mechanism.This transition will lead to lower transaction fees, faster transactions, and a 99.5% reduction in energy consumed by the Ethereum network.FTX faced a liquidity crunch in November that eventually led to its collapse, as well as the collapse of its sister company Alameda Research.It appears FTX funneled funds, including user deposits, to Alameda Research to prop it up earlier this year as other centralized entities were failing.Centralized crypto entities have started publishing proof of reserves to reassure customersDeFi protocols have continued to work as programmed. Helpful links Ethereum Merge and Proof of Stake https://www.google.com/search?client=safari&rls=en&q=ethereum+merge&ie=UTF-8&oe=UTF-8https://www.coinbase.com/learn/crypto-basics/what-is-mininghttps://hbr.org/2021/05/how-much-energy-does-bitcoin-actually-consumehttps://www.nytimes.com/interactive/2021/09/03/climate/bitcoin-carbon-footprint-electricity.htmlhttps://ark-invest.com/articles/analyst-research/bitcoin-myths/The FTX Collapse https://www.coindesk.com/ftx-news-coverage/https://www.coindesk.com/markets/2022/11/15/defi-protocols-are-winning-users-as-centralized-crypto-exchanges-suffer-ether-outflows/Proof of Reserves and Centralized Exchange Transparency https://www.kraken.com/proof-of-reserveshttps://www.investopedia.com/proof-of-reserves-6830204https://niccarter.info/proof-of-reserves/

  6. 01/26/2023

    E8: Crypto Adoption: Changing tunes, remittance costs, and stores of value

    Episode Highlights It has been suggested that cryptocurrencies will never be adopted.BlackRock and Fidelity have given their clients direct and indirect exposure to Bitcoin.The number of crypto wallets has increased by more than 20 times since 2019.Cryptocurrencies, particularly stable coins, are seen as stores of value and a hedge against hyperinflation in sub-Saharan AfricaCryptocurrencies are being used to transfer value across borders, especially in countries with strict capital controls and across remittance corridors that are underserved.Helpful links BlackRock, Fidelity, and JPMorgan Chase https://decrypt.co/112499/fidelity-ethereum-trading-institutionshttps://www.investopedia.com/fidelity-to-launch-crypto-exchange-6665544https://www.coindesk.com/layer2/2022/08/18/the-blackrock-trust-crypto-legitimacy-or-the-beginning-of-the-end-for-bitcoin/https://qz.com/2072753/jamie-dimon-says-bitcoin-is-worthless-but-jpmorgan-will-sell-itCryptocurrency adoption https://blog.chainalysis.com/reports/sub-saharan-africa-cryptocurrency-geography-report-2022-preview/https://www.cryptovantage.com/news/tracking-crypto-adoption-is-hard-but-data-points-to-nearly-a-billion-users/https://www.coindesk.com/markets/2021/03/15/nigerians-turn-to-stablecoins-for-protection-against-inflation/https://techcrunch.com/2022/02/23/cryptocurrency-payments-key-to-lowering-cross-border-remittance-charges-and-boosting-microwork-uptake-in-africa-study-shows/https://africa.businessinsider.com/local/markets/7-worst-performing-african-currencies-in-2022/s5kqzk1

  7. 10/11/2022

    E7: Crypto basics: Security, 2-factor authentication, backups

    Episode Highlights Public Wi-Fi is not secure, for the most part. If you must use public Wi-fi, then consider downloading a VPNIf 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-FiBookmark all the crypto websites that you frequently visit, and always double- and triple-check their URLs before entering any login credentialsEnable 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.htmlhttps://beincrypto.com/fake-crypto-exchanges-dupe-indians-128m-binance-investor-education/https://cointelegraph.com/news/fbi-issues-public-warning-over-fake-crypto-appsGoogle Authenticator and Authy https://play.google.com/store/apps/details?id=com.google.android.apps.authenticator2&hl=en&gl=UShttps://apps.apple.com/us/app/google-authenticator/id388497605https://authy.comhttps://coinmarketcap.com/alexandria/glossary/two-factor-authentication-2fa

  8. 09/25/2022

    E6: Crypto basics: Private Keys, Public Addresses, and Wallets

    Episode Highlights Crypto wallets give you access to your cryptoassets; they do not store your cryptoPublic 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 upThere are pros and cons to using non-custodial and custodial (crypto exchange) walletsYour choice of non-custodial wallet depends on your investment strategy and whether you prioritize convenience or securityHelpful links Coinbase’s Terms of Service: https://www.coinbase.com/legal/user_agreement/united_statesCelsius 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-dumpSelect hot wallets https://www.myetherwallet.comhttps://mycrypto.comhttps://metamask.zendesk.com/hc/en-ushttps://trustwallet.comhttps://www.exodus.comhttps://www.coinomi.com/en/Select cold wallets https://trezor.iohttps://www.ledger.com

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About

In this podcast, host Lorraine Mutyaba, a crypto enthusiast, demystifies the crypto space, sharing what she loves and hates about it, and what she’s learned about the crypto market since she was bitten by the bitcoin bug in 2013. Tune in to hear her discuss cryptocurrencies, crypto news and trends, market cycles, and interesting crypto projects and protocols. Disclosure: I hold some cryptocurrencies.

Information

  • Creator
    Lorraine Mutyaba
  • Years Active
    2022 - 2023
  • Episodes
    13
  • Rating
    Clean
  • Show Website
    DECENTRALIZED