community did some digging and found that the vulnerability in a lot of these attacks was due to using centralized oracles just one reason why many people have been rushing to chain link over the past two years without oracles blockchains are basically stuck in their own world without any idea of what's happening outside of their own ecosystem making them ripe for exploitation the completely new technology of flash loans are causing profiteers to take a look at old dapps to see if they can go ahead and exploit their systems and this is where we're at now a new gold rush in crypto a pirate era of flash loans where anyone can search for opportunities within smart contracts as long as they can get out within NUMBER_TOKEN seconds so here's a question that i want to ask you is it ethical to exploit code for profit of course this is the other side of flash loans and i believe we should not put a black label on those new financial products it is just what happens with every new technology to me i don't see a major issue with flash loans every system has their own individual quirks and blockchains have the quirk of settling transactions in batches because transactions are settled in batches this allows people to use the funds within that transaction as long as they put everything back where they found it before the transaction settles and ultimately no one should be hurt of course we don't want black hat actors to steal from people or steal from exchanges but it seems with time systems will be built in order to prevent the darker side of flash loans from here i'd like to thank today's sponsor i trust capital i trust allows you to place your crypto in a roth retirement account what this means is you can buy sell and trade crypto and pay zero capital gains on your wins this is amazing for traders with a roth you pay your tax upfront when putting money into the account and at retirement you pay no tax once you start pulling out at age NUMBER_TOKEN and a half years old this is probably the most simple way to save on all capital gains i trust will be linked in the description of this video if you use that link to open an account you'll receive NUMBER_TOKEN in free bitcoin just for joining now next up i recommend you watch this video covering other underground investment strategies and i would like to thank you so much for watching and i hope you have a profitable day
START_SPONSOR_TOKEN i'd like to thank today's sponsor i trust capital i trust allows you to place your crypto in a roth retirement account what this means is you can buy sell and trade crypto and pay zero capital gains on your wins this is amazing for traders with a roth you pay your tax upfront when putting money into the account and at retirement you pay no tax once you start pulling out at age NUMBER_TOKEN and a half years old this is probably the most simple way to save on all capital gains i trust will be linked in the description of this video if you use that link to open an account you'll receive NUMBER_TOKEN in free bitcoin just for joining now next up i recommend END_SPONSOR_TOKEN