[NEWS] One of Bitcoin's biggest bulls "doesn't even know" what Ethereum DeFi is

[bbc.reporter]

I speculate that he knows what defi is, however, similar to the ICOs, he does not want to acknowledge that defi as technically good projects.

This might have embarrased the interviewer hehe.



American-Canadian entrepreneur and investor Chamath Palihapitiya has quickly become an outspoken Bitcoin bull.

While he was one of Silicon Valley’s first BTC bulls, buying a purported ~five percent of the then-circulating supply with partners in the early days, only recently has he become really outspoken for the space.

Palihapitiya doesn’t seem to be as excited about what’s going on with other cryptocurrencies though.

Blockchain journalist and podcaster Laura Shin recently had the prominent investor on to her “Unchained” podcast. When Shin asked if he has been “watching what is going on in DeFi,” the reply was “I don’t even know what that is".

Read in full https://cryptoslate.com/not-mainstream-one-of-bitcoins-biggest-bulls-doesnt-even-know-what-ethereum-defi-is/

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[DDante]

DeFi means decentralized Finance, maybe the interviewer should have ask him what decentralized Finance is instead of DeFi? Might sound confusing using DeFi? I personally don't know what DeFi was until I figured it out that it was shorten name of decentralized Finance, I bet he knows what that is.

[elewton]

DeFi means decentralized Finance, maybe the interviewer should have ask him what decentralized Finance is instead of DeFi? Might sound confusing using DeFi? I personally don't know what DeFi was until I figured it out that it was shorten name of decentralized Finance, I bet he knows what that is.

I'm skeptical about this. If he is the one who can get interviewed, he has to have certain understandings and fundamental knowledge about the cryptocurrency market. Lately, the word "Decentralized Finance" is like a hype on cryptocurrency forums. Obviously, when you know the word, you have to know its abbreviation! It doesn't make sense if he know "decentralized finance" but not know DeFi.

[bbc.reporter]

DeFi means decentralized Finance, maybe the interviewer should have ask him what decentralized Finance is instead of DeFi? Might sound confusing using DeFi? I personally don't know what DeFi was until I figured it out that it was shorten name of decentralized Finance, I bet he knows what that is.

No, I am quite certain that the interviewee knows what it is. I speculate that he simply did not want to acknowledge it because many if them are similar to scam ICOs of 2017.

The skeptical me thinks that some defi projects are created with backdoors and bugs by their own development teams to steal from their own users.



Early Sunday afternoon, reports started to spread via social media that a DeFi hack/attack took place.

Word first spread via Telegram, according to The Block’s Steven Zheng. An admin of a Telegram group noticed that there was an issue with Balancer, a DeFi protocol focused on facilitating token swaps.

“Apparently someone drained a Balancer Pool made up of WETH and STA and got away with $500k worth of WETH,” Zheng wrote, becoming one of the first to spread news of this via Twitter.
Hours after Zheng’s tweet, the attack was confirmed by Ethereum-based decentralized exchange 1inch and Mike McDonald, co-founder of Balancer Labs. Balancer Labs is the entity that is behind Balancer’s development; the former is a company, the latter is an Ethereum-based protocol.

Source https://www.newsbtc.com/2020/06/29/428843/