
Yuyue 🚢💹🧲|Mar 07, 2025 08:24
Many novices who don't understand any blockchain mechanisms played Odin this time and came to criticize me when I pointed out the risks. I can understand that they lack fear, reverence, and respect for centralized platforms due to their ignorance
Can you explain the issues with the mechanism of this platform and the survival rules for bear markets
Firstly, the Odin platform is essentially a centralized platform
-The performance of the BTC main chain cannot meet the requirements of pumpfun, so all transactions on Odin cannot be hashed on the BTC main chain
-That's also why we say Odin centralization, which is essentially no different from casinos such as CEX and Rollbit, leaning towards single player disks
What problems will centralized platforms encounter?
-The platform's wrongdoing and the smashing of data disks are the most pressing issues.
--Unregulated centralized exchanges are often criticized for data disk crashes, the most obvious of which is that the small coin on chain data of previous exchanges did not have much volume, but the spot order volume far exceeded the amount of on chain data. The coins in the data disk are just real data
-When the platform commits evil and enough funds are brought in, it will run away on its own. Such scams are common, maliciously misappropriating user funds for other purposes
-Without considering the platform's wrongdoing, being hacked is also a huge problem.
--Bybit was hacked by North Korean hackers for 1.5 billion US dollars a few days ago. The reason why they can withstand a run is because they have strong capabilities and high exchange business income;
--Infini was hacked for 40 million US dollars a few days ago, and the reason they can compensate is due to Li's father's strength, reputation, and image.
——The vast majority of platforms do not have the ability and structure to compensate once they are hacked
Bear market survival rules:
The first rule is to be cautious and run away when there is trouble. A gentleman should not stand under a dangerous wall.
It's true to say that wind is rain, but that's the most important life-saving strategy to take. Even if someone cheats on Binance, I will withdraw my money as soon as possible (Binance is already the largest exchange in the industry and has long been the safest), let alone other small centralized platforms that are not well-known?
When the FTX incident occurred in 2022, I was tempted by small profits and went to FTXUS to arbitrage BTC on the Sol chain. Due to the price difference, I lost about 5-6000u of my principal, which was also quite a lot of money for me at that time. Therefore, I have remembered this lesson for a long time
Things teach people, they can do it once. As long as they encounter Fud, they will run away immediately. Overall, it is still a positive EV behavior. Saving one's life is more important than anything else
Xiaobai, just take any level and spray me, and I'll block it. If you can't see my content, it's not my loss, it's your loss
Share To
Timeline
HotFlash
APP
X
Telegram
CopyLink