June 4, 2024 Grandpa checks in
The magical mistake happened again in the U.S. stock market. Shortly after the U.S. stock market opened last night, Berkshire's stock price instantly dropped from 620,000 US dollars per share to 185 US dollars per share, a drop of 99.97%. In addition to the old man's stocks, Bank of Montreal, Barclay Gold, etc. also showed a "zero" trend. After the emergency suspension, as expected, the above transactions were "rolled back" the next day. In fact, these stocks were really traded at low prices. Of course, it was just a dream. Unexpectedly, the U.S. stock market with the largest market value would also have such a bug. If it were not for the centralized data that could be "rolled back", the seller would have gone bankrupt.
Why is decentralization a trend, or the pursuit of some people? At least at the data level, if decentralization can be achieved, there will be many benefits. US stocks are just like our trading platform. Investors charge money, we charge coins, and then the trading platform records the numbers in the account. Everyone's trading is actually playing with these data. In theory, the trading platform can clear your data at any time, and of course you can also recharge your account unlimitedly. For example, this time, Berkshire's stock has returned to zero, and your purchase is invalid because the platform has no say. Your data can only be tampered with, and you can only accept it.
What are the benefits of decentralization? Let's change the scenario. If the price crash this time is because someone mistakenly sold tens of thousands of Ethereum, the price of Ethereum on Uniswap instantly dropped to $1, and you bought 100 Ethereum at the first time, then these 100 Ethereums will go to your wallet, and no one can "roll back". You spent $100 and earned $370,000. Although the example I gave is a bit extreme, similar things have really happened on Dex, especially on some altcoins.
As for the market, we still need to wait for the direction of the market. This wave of cottage fever has not cooled down, but it has not driven the market up, which is not a good signal from this perspective. In the short term, we should wait for Ethereum, which has the hope of leading the market up. After all, the overall market has entered a relatively cold period. If there is no special positive news, it is difficult to drive the overall rise. In this case, you can take a proper rest recently and do some small coins. It is worth noting that the funding effect of the DeFi sector has been more obvious recently, so you can pay more attention to it.
Thank you for your attention and likes.
