What do you guys think about COTI? Are the centralisation concerns warranted? Would love to know! Don't forget that you can follow me in my other socials for all the content you are not getting here 👉 guy.coinbureau.com/socials/. You may also be interested in my clips channel for behind the scenes bits ru-vid.com/show-UCR93yACeNzxMSk6Y1cHM2pw
People complian about $coti being centralised but imo it’s the best payment infra + good position we could get for today. There will be a better solution but it will take years to implement. Im thinking about $coti as buying a @Visa + @PayPal + @Square stock but much much better.
At 17:10 this is incorrect. Coti has an extensive community of more than 29k members and currently 21 nodes on main net that are validators on the network.
Yep, you are correct. I'm sure he'll clear up a few things from this video that were a bit inaccurate. Guy is all about being as accurate as possible for his audience. He's one you can trust!
For the money that is on my visa card, I am really not worried about the level of decentralisation behind that, that never will be. They are the on and off ramp to to fiat. DJed will live on Cardano, that is a different case than the payment channel.
The only way I see to be Coti worthwhile for adding to a portfolio is when they offer a decentralized privacy mechanism. Additionally they need more nodes and especially community nodes need to take part into governance. Two things I don`t really see yet.
Hi Guy, can you please comment on the tweet from COTI CEO that they are actually running 24 nodes instead of one as you mentioned on the video? Would you still concern about their centralization issues?
find it strange that Cardano implements Coti, since the DeFi aspect always has been important for Huskinson. Does he knows something we dont regarding incoming regulations?
You're content doesn't make sense It's like saying why does Ethereum implement MakerDAO since defi is important to Voltairelik. Cardano doesn't implement Coti which is a different blockchain and project. Djed is an open source algo stable coin protocol, any one is free to implement their version on their platform. If Coti doesn't do it right, hopefully someone will impending it better. Like Ergo, who helped created the protocol. ;)
Regulation is coming. If playing in the transaction space better to own the player who's already enforcing kyc rules. They will be moles ahead of others.
Thanks for another information packed video. Until the last third of the video, I was getting excited for a new gem. But fully centralized blockchain is a big no-go. Thanks für going through the info and presenting it in an easily digestable way
@@LaserGuidedLoogie coti has no control over the Cardano block chain. Once djed is launched it's running on its own with only a fraction of fees flowing to the coti network. The whole point of making djed truly algorithmic is to cut out the middleman. Read the white paper.
According to who? The "Ergonauts" on Reddit?!? People invest in a coin then immediately commence with the tribalism. I love this coin, hate that coin. This coin to the moon! That coin sucks. Crypto has definitely attracted some of this newer "influencer" influenced crowd, and it's turning the crypto space into a joke.
@@AlmightyEye let time decide the facts and not some emotional biased opinions online. That said I do think ergo will easily survive the bear market unlike 80% of the shit that’s out there now
I don't consider his time at Bank of Israel as a positive. All of the rules, restrictions, tech, architecture, conditions and, tokenomics all make sense when you look at founders and backers.
I was concerned when Cardano signed Coti but it is a pragmatic approach. Coti is a seamless bridge from the centralized world to the decentralized Cardano world for the masses as well as corporations. As long as Cardano stays decentralized and have all the facilities to protect privacy if one chooses. There is no point in having a decentralized platform if you can't onboard users.
Just have to say "Djed" is possibly the worst name they could have come up with for a stable coin (or anything else). Rolls off the tongue like a cube-shaped crate.
You could call it AgeUSD. I understand why they renamed it to Djed, the "USD" part give it impression it's just a usd pegged token but the protocol allows it so you can peg it anything else.
Maybe I’m missing something, but you are required to provide kyc. Additionally if you transact with anyone the trust system deems as untrustworthy then it brings your score down. This seems like a dystopian nightmare and everything that is opposite of the values of crypto
COTI is a BANK, of course it's centralized. However, I don't think this will prevent Coti to be profitable. Do you really need a 100% decentralised portfolio?
It's built under Cardano blockchain so that's kind of a big deal, since it's one of the only stablecoin under ADA blockchain and COTI is the only issuer of DJED. And ADA Cardano was developed by the Ethereum co-founder and developer. So COTI is kind of like Polygon that's under Ethereum as COTI is under ADA blockchain and DJED is like USDC under Ethereum as DJED is under Cardano ADA. And DJED might be way faster and cheaper than all stablecoins currently.
I have never been able to compete with Luna's fans $UST and their lavish comments. But I spoke clearly that it will eventually collapse and I was citing a currency IRON. I'm leaving this comment for the next winter years from now.
@@kiko0o0o0o0 I understand the LUNA related fears. It is also entirely possible that DJED fails. However, the two are a million miles away. I am not really sure why IOHK and COTI ever started referring to DJED as an "algorithmic stablecoin" when in reality it is an overcollateralised stablecoin with another token, SHEN, acting as a certificate for collateral providers to represent the ADA they have tied up. It could end badly but it certainly doesn't have the scary death spiral mechanism that UST had in terms of LUNA. With regard to the analogy the other commenter made, COTI isn't remotely like Polygon. Polygon, of course, runs ON the Ethereum blockchain, whereas COTI has it's own network (since this video, now a multi-DAG layer 1 in its own right) and simply operates DJED on Cardano's behalf.
@@benjamin9615 , Ada is the most decentralized among the coins you mentioned and it will get more decentralized once Cardano based dapps and defi start rolling out .
@@alexunlv If they reward and penalize you for who you transact with, that is Orwellian as it gets, just like China's social credit score. This is something we must adamantly and completely reject.
@nosten The part where COTI rewards or penalizes you depending on who you transact with is even more concerning. Hard pass on any social credit (anti-freedom) system.
@@sndrcve well like all things on the internet.. its very important to get your information from multiple sources and cross check them all.. but that doesn't mean this information can't be relevant..
Thanks for the incite, not only for data it-self but for the razonalizations driven from the data. It helps one gain knowledge and experience on the crypto industry. 😉
Not a fan of the possible centralization and blackrocks involvement. However, the large institutions are going to figure out a way to get their slice of the crypto pie and coti seems to be making all the right moves to capitalize on the popularity of Cardano while appeaseing the large financial institutions. It also has a smaller circulating supply so if it ever takes off it could make some big money.
I was interested in COTI but after this video, I think I'll give it a pass, I'll wait for other alternatives to come out on Cardano that are more decentralised and less invasive.
I've done a lot of research on this project and have similar concerns. On one hand, their affiliation to the Cardano network has the potential for mainstream adoption and rapid price appreciation, however, I'm equally concerned they're vulnerable to be replaced over the long-haul. This is a trade than could turn into an investment... the former seems more probable than the latter at this stage. Thanks for the video!
$COTI: First and most important, AFAK there are 24 mainnet (mostly full nodes) plus 13 testnet nodes. It doesn't have just 1 full node and is more decentralized than some DPoS and other networks.
Watched the entire video and you were wrong about 20% of it. Such as the nodes/ and the fact that it is decentralized. However I understand why you got it wrong, the website mislead you.
Did you intentionally lie or are you just that bad at your job? Lies/misinfo 1. Number of nodes is not 1 centralized node 2. The Trustchain is not remotely like Chinese credit system in any sense 3. Treasury 2 is not anything like staking 3.0 4. You do not have to KYC unless you want to use viper wallet (your choice). 5. There are over 200k unique viper wallet users not 10k How do you have a full time staff and either get it this wrong or are you just lying?
It may be a super project with super leaders but the main thing about crypto is decentralization. So in my eyes I see a project parasitizing around other good projects. But the main thing here is that it is centralized by certain people and it is part of the old status quo. Sorry, my thumb goes by itself down.
$COTI: First and most important, AFAK there are 24 mainnet (mostly full nodes) plus 13 testnet nodes. It doesn't have just 1 full node and is more decentralized than some DPoS and other networks.
