Is Dai the next Bitcoin?
No, unfortunately it's a centralized grift, be aware!
Like most alternative cryptocurrencies, Dai differs fundamentally from Bitcoin's decentralized, trustless design.
Critical breaches of Trust by Dai
| Principle Broken | Specific Issue |
|---|---|
| ❌ Decentralization | 33.9% of DAI backed by centralized USDC stablecoin |
| ❌ Decentralization | MakerDAO founder called PSM sanctions "biggest risk" to protocol |
| ❌ Neutrality | Circle blacklisting PSM could disrupt entire DAI market |
| ❌ Neutrality | Emergency Shutdown can freeze all Vaults and Price Feeds |
| ❌ Trustlessness | Must trust Circle won't blacklist USDC backing DAI |
| ❌ Trustlessness | Majority of DAI tied to centralized USDC PSM |
| ❌ Trustlessness | Emergency Shutdown could be triggered by governance attack |
| ❌ Immutability | Emergency Shutdown freezes Price Feeds and prevents Vault manipulation |
| ❌ Immutability | MKR holders can trigger shutdown by depositing MKR to ESM |
| ❌ Fixed Supply | DAI supply expands/contracts based on vault collateral |
| ❌ Fixed Supply | No fixed maximum supply, depends on governance |
| ❌ Fair Launch | MKR governance token controls entire protocol |
Why Bitcoin?
Bitcoin is the only truly decentralized cryptocurrency. It has no CEO, no company behind it, and no central authority that can change the rules. Unlike Dai and thousands of other cryptocurrencies, Bitcoin's supply is fixed at 21 million coins, and this cannot be changed.
Most alternative cryptocurrencies (often called "altcoins" or "shitcoins") are created to enrich their founders and early investors. They often have:
- Centralized control and decision-making
- Pre-mined tokens given to insiders
- Unlimited or changeable supply
- Unproven technology and security
- Heavy marketing but little substance
Don't fall for the hype. Educate yourself about Bitcoin and understand why it's different from every other cryptocurrency.
Learn About Bitcoin
Understand what makes Bitcoin different from every other cryptocurrency. No CEO. No company. No central authority.