Davide
@0xdavide
🖤🦢Today we are talking about bad events: black swans. This term refers to a rare, unpredictable and high-impact event, rationalized only after it has happened. These events can have profound and devastating consequences on entire industries. A black swan is characterized by rarity and extreme impact. 🚨What could be black swans in the crypto/web3 world? Examples of black swans (general): 🔹The attack of September 11, 2001 (terrorist event). 🔹The financial crisis of 2008 (crippled the global banking system). 🔹COVID19. 🔹The war in Ukraine (a large-scale conflict in Europe).
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Davide
@0xdavide
Black swans in the crypto world, IMO: ◾Vulnerabilities in the Bitcoin code (a fork would be feasible but the network would lose trust and incorruptibility). ◾USDC/USDT depeg or Circle/Tether funds ban/freeze due to regulatory pressure (would have catastrophic scenarios in DeFi). ◾Large-scale deployment of scalable quantum computers (private keys would be exposed). ◾Ethereum collapse due to bugs (would have disastrous repercussions on the entire DeFi world). ◾Ban on self-custody: it is difficult to implement but the centralization of hardware/software wallets makes them attackable. ◾Globally coordinated regulation with bans for those who operate in DeFi or own crypto (would not stop BTC long term but in the short term the scenario would be bad). ◾Collapse of a Tier1 exchange like Binance/Coinbase (would favor DeFi but the sector would lose credibility).
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