chainlink coinmarkecapWill This Crypto Implode Next?

4ftx20ft chainlink gate pump it chainlink chainlink coinmarkecap Will This Crypto Implode Next?

this is matthew krader from trade university and today i want to talk about what i think could be the next cryptocurrency to blow up youre going to want to pay attention to this because ive made videos like this before on april 5th i talked about how tara luna was subject to a death spiral and how i thought that at some point all the bitcoin that had been accumulated by the protocol by the luna guard foundation would be liquidated and that turned out to be correct luna ended up going basically to zero so the cryptocurrency i want to talk about today is called chain link the ticker is l i n k and this is whats called an oracle uh an oracle protocol in d phi land whats an oracle and oracle is just something that provides a way of bringing real real world data to a blockchain into the smart contracts that ride on it its basically a bridge between the outside world and the world of blockchain so for example if you had a blockchain that dealt with sports bets you could have an oracle that imported the final score of lets say a basketball game to the blockchain now the whole d5 space relies on one main protocol which is chain link for its oracles and so if someone could take over and take control of chain lick chain link they could basically falsify oracles all over d5 space and it would look like this you think the dallas maps won their game last night well i control the oracle and so i get to say that the phoenix suns won could someone actually do this could someone take control of chain link and falsify their oracles it turns out the answer is almost certainly yes but before i talk about that i just ask you if youre new to this channel if youre enjoying this video so far be sure to hit that subscribe and like button so i owe this insight to chris black you can follow him on twitter at chrisblack he says and ive checked on this it looks to be true the integrity of all chain link oracles on all chains so chain link provides oracles to ethereum and bitcoin smart chain etc all of these oracles rely on three out of 20 multi-stake multi-signature is just where you need multiple signatures for something to happen so in this case you would need three out of the 20 signatures to make changes to the protocol he links to the oracle contracts here he links to the multisig signers if a team of hackers and this is chris chriss tweet if a team of hackers were able to compromise just three of chain links 20 multi-sig signing keys then they could run an irreversible exploit ranking in billions of dollars from dozens of different d5 protocols and apps and what we know in finance is that if something can happen especially if its an exploit it is going to happen so how would you do this well you would just get three out of those 20 signers to change the oracle from using the current data aggregator to any fake data aggregator that they control and then after this is done that particular link oracle could be made to broadcast whatever false data you or i want it to so i could do this you somehow get compromised that the multisig you get three out of the 20 people to sign and you could switch it to your own oracle and you could broadcast to the define network that the price of eth is suddenly a hundred dollars and the price of bitcoin is ten thousand dollars and the mavs or the suns one whatever whatever sort of oracle data you wanted to use in this example if i told defy land that the price of eth was suddenly a hundred dollars and the price of bitcoin was suddenly ten thousand dollars thered be instant blow ups and liquidations all over defy land this one hurt wouldnt hurt def uh would not hurt bitcoin as a protocol because bitcoin is not part of d5 its only brought in in very weird ways like wrapped bitcoin it wouldnt hurt bitcoin but it would definitely end d phi you would have instant instant blow ups instant instant liquidations all over defy land and the link token would obviously go to zero in the same way that tara lunas gone to zero since trust in the system has been permanently destroyed tara luna also went to zero because they they printed a trillion a few trillion of their tokens as part of their bid to to stabilize their their unstable coin but this this is definitely something that could happen we see link already has this power over the last 24 hours we have 13 and a half million dollars worth of bad debt in a big in a binance smart chain lending protocol because of a paused oracle feed from chain link this just shows the power of chain link and then chain link paused their luna luna oracle in order to do this they need to get three out of 20 signatures to sign they must have done this because they were allowed to pause the luna oracle and this allowed uh several attackers to deposit millions of luna into this protocol into into blizz blizz finance so what this means to summarize this is really quite unbelievable but just three signers could blow up d5 in a matter of seconds or minutes and it turns out its probably fewer because we dont know that those 20 signers are all different 20 different institutions or 20 different people it could be three or four people that control those 20 keys and so in order to compromise chain link and compromise in fact all of d5 all you need to do is apply pressure take control bribe threaten those signers and you just need three out of the 20 it may turn out just to be two people for all we know and theres probably a reason that its set up like this its set up like this because defy is fake as ive been telling you for two years you saw how fake it was with tara luna you saw how much human involvement there was you saw how they just paused the chain magically even though its completely decentralized which it isnt this is how d5 works its its decentralized in name only you might call it dino decentralized in name only and why is it well the most cynical and sinister hypothesis hypothesis for this would be it is centralized behind the scenes because there are a few people or a few groups that want to control things and im going to end this video with the suggestion who i think might want to control d5 its very easy just go to the world economic forum website and there you can see chain link as one of their partners the most powerful probably the most powerful protocol after ethereum in defi land in the hands of just a few people and possibly in the hands of our friends at the world economic forum so if you enjoy the world economic forum if you enjoy the way it runs things chain link is definitely the protocol for you unfortunately you are also then at the whim and call of our overlords at the world economic forum so keep this in mind this is tara luna ended very badly i think chain link and d5 are also going to end badly maybe they implode or maybe they just become vassal properties of our current fiat overlords who run the world economic forum if you found this video helpful be sure to hit that subscribe and like button hit the notification bell if you want to be notified when i publish my next video and let me know your questions and comments in the comment section below thanks a lot for watching and ill see you in the next video Get the Ultimate Guide to Bitcoin course: the discount code YT99 to get the best price. Get my best-selling Bitcoin book: Join the Trader University email list: In this video, I discuss how compromising the 3/20 multi-sig setup that secures Chainlink could be used to blow up all of DeFi, by broadcasting false oracle data. DeFi continues to be decentralized in name only DINO. It may be set up this way to allow fiat institutions like the World Economic Forum WEF to be able to control it. Not investment advice! Consult a financial advisor. Terra Luna Buying Bitcoin Billions: JSYkzaTzQ0w&ab_channel=TraderUniversity LINK: Chris Blec on LINK: Paused LINK oracles causing problems: Chainlink and the WEF: Check out my online trading courses: Use this secret coupon code to get a discount: YT99 Check out my Amazon best-seller, A Beginners Guide to the Stock Market: I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals. 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