S1 E3: Debunking Common DeFi Myths (DeFi Dave)

DAOn the Rabbit Hole

In this episode of DAOn the Rabbit Hole, we’re talking to DeFi Dave. He hosts the DeFi Scoop podcast, and he’s here to debunk a few of the more common myths about decentralized finance.

Dave talks about his first experiences with DeFi and some of the misconceptions he had early on. He starts by discussing the common preconception that crypto is a tool for criminals and drug dealers, and how people (incorrectly) worry about the security of their crypto assets.

We talk about the ideas that crypto is a purely speculative asset with no real utility, that crypto is too volatile and risky to replace traditional banking, and that crypto is reserved for tech bros and wealthy people.

Dave also tears into the common myth (on both sides) that crypto is only for conservatives, or only for liberals. He explains why crypto is not a threat to democracy, or necessarily bad for the environment.

Is crypto a cult? Dave addresses this popular notion, too, along with the common assertion that crypto will never replace cash and fiat money, and that it’s not valid as a store of value.

To continue this conversation and stay up to date on all things DAOn the Rabbit Hole, you can follow Diana on Twitter @ddwchen, Anay @anay_sim, and RabbitHole @rabbithole_gg. You can follow our guest, DeFi Dave, on Twitter @davesaidthat_.

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