What do you think of keeping funds in a Dai savings account?

what do you think about keeping a chunk of cash in a DAI savings accounts I am loving it right now. I have actually used both the borrowing and the savings part of the Maker DAO platform so I have created a collateralized vault a collateralized debt position where I collateralize ether and then generates DAI that I can spend and I did that actually after the price collapse of ether because first of all that gave us a very good view of exactly the risks that exist in the Maker DAO DAI platform and how it can lead to some bad outcomes if there's a very very rapid decline in price but at the same time because after the very very rapid decline in price the probability of an equally large and rapid decline in price just went down. Now that may not be strictly statistically true it's a bit like the joke where they say how do you know there's not a bomb on your plane well I brought one with me knowing that the chances of there being two bombs on the plane are very very low not true those are not correlated events but in the case of drops in cryptocurrency they are correlated events so I did actually use the Maker DAO system and I have played with it over the past year and a half and I think it's very interesting using it as a savings vehicle where you invest DAI and then get a return on your investment through the savings rate that's a very interesting use of decentralized finance but and and this is critical these are very very risky and experimental platforms so I would only do it with an amounts of money I am absolutely comfortable stacking up on the middle of this table here and setting on fire without crying.

What are the risks of using Dai?

That's that's the kind of investment I would make in highly experimental platforms by the way most people are investing far too much at the moment on highly experimental platforms like that and that's their prerogative to be reckless but it's it still is quite dangerous. If you enjoyed this video please subscribe like and share all my work is shared for free so if you want to support it join me on Patreon Thank you