The GAME CHANGING project known as MakerDAO is running full steam ahead and today I am bringing you a tutorial on how to participate in the system by borrowing the stablecoin DAI through a CDP or collateralized debt position. Currently only Ethereum can be used as collateral for borrowing, but in the future MakerDAO will be expanding out to other cryptocurrencies like Bitcoin. This video will explain:
1. What is MakerDao 01:17
2. The steps to take out your MakerDao CDP 04:43
3. What you can do with your borrowed DAI stablecoin? 09:51
4. How to payback your borrowed DAI 12:11
5. How to withdraw your collateral 12:45
6. How to close your CDP 13:15
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What Is MakerDao & The Case For Success
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**Disclaimer**
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Purchasing cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome. Past performance does not indicate future results. Open CDPs at your own risk!
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
About the Site 🌐
This site provides links to random videos hosted at YouTube, with the emphasis on random. 🎥
Origins of the Idea 🌱
The original idea for this site stemmed from the need to benchmark the popularity of a video against the general population of YouTube videos. 🧠
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Obtaining a large sample of videos was crucial for accurate ranking, but YouTube lacks a direct method to gather random video IDs.
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The YouTube API offers additional functions enabling the discovery of more random videos. Through inventive techniques and a touch of space-time manipulation, we've achieved a process yielding nearly 100% random links to YouTube videos.
About YouTube 📺
YouTube, an American video-sharing website based in San Bruno, California, offers a diverse range of user-generated and corporate media content. 🌟
Content and Users 🎵
Users can upload, view, rate, share, and comment on videos, with content spanning video clips, music videos, live streams, and more.
While most content is uploaded by individuals, media corporations like CBS and the BBC also contribute. Unregistered users can watch videos, while registered users enjoy additional privileges such as uploading unlimited videos and adding comments.
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YouTube and creators earn revenue through Google AdSense, with most videos free to view. Premium channels and subscription services like YouTube Music and YouTube Premium offer ad-free streaming.
As of February 2017, over 400 hours of content were uploaded to YouTube every minute, with the site ranking as the second-most popular globally. By May 2019, this figure exceeded 500 hours per minute. 📈
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