Bitcoin Forum

First step: Create a 4chan account (easy)

https://i.imgur.com/KMiBM0H.png

Second step: Buy a .finance domain (easy)
Third step: Make ERC20 token on mainnet (easy)
Fourth step: Do some coding and upload it to your newly registered domain. No worries even if it is not working. (easy)

https://i.imgur.com/1WPcOTf.png

Fifth step: Go back to your 4chan and shill (easy)

ETH address:
Website:
4Chan:
I hope you do get my message here.

And to make everything promising, add words like "Yield Farming" or "Finance" at the end of your project and Voila! Sure 200% pump in no time ::). So ridiculous.

I wonder why most people recently are getting crazy in this defi? Actually, it's quite alarming already since they keep on coming and more and more are getting scammed. For God's sake, don't ride the hype train. I know that crypto investing is as risky as hell but please don't push yourself in an obvious lake of fire. Be wiser guys. Avoid tokens based on food as much as possible, they're a future sh*tcoin most probably.

That is because the new trend now is DeFi, and that makes people crazy to chase the profit by investing or participating in the project to get the rewards. They saw a project that could reach their target, so they think the other project will succeed. This situation is like what we saw when ICO and IEO boomed, making people smell the money before the trend is booming.

People tend to follow the trend, and they don't care about that because as long as they can make a profit, they will still follow the trend. From that, I think some people will leave the DeFi before the trend is over because they see their chance to save their money before they get scam. We need to become like them, so we know when we need to get out before it's too late.

Your explanation is very correct, from what we have experienced from the beginning to date in the crypto world, in this bitcointalk world in particular, everyone will look for and do what is "trend" at this time. first ICO, then IEO, and now DeFi. no wonder, because everything needs development and what is under development and is profitable, it will definitely be sought by everyone. unfortunately, the ecosystem here is not good. I mean, along with new developments, long forgotten ones and finally many scam projects that make them even more forgotten. call it ico, how it works after years of making a very profitable job here, but finally in 2018 it became bad because of the many scams that occurred. then came the IEO, not long after that in this year DeFi, I think DeFi next year will be a success.

Absolutely true.
I have seen a flurry of such projects which seem to be made in a hurry without any whitepaper, without any team and no fine details.
I will suggest everyone to stay away because they are giving bad name to defi as we have already seen many instances of rug pulling and exit scamming after raising initial funds.

Did investors buy with that project? it's crazy to see the proliferation of projects like this go into the mainstream and is being praise of investors that are investing to Defis.

They can't see how these projects wanting to take their money easily but making them believe that these projects are real projects that aims to improve something.

Stick with only reputed and established defi projects and do not even look at new projects.
Most of the new ones are scams that are making use of the trend and hype. Selling tokens for eth and then closing their websites and social media channels, euclideum, yif and many others are recent examples of such scammers and due to such people whole defi market is in a downturn right now.

I guess we cannot blame the sudden rush of speculators to the Defi hype, FOMO was all over the crypto space and no one wants to be left behind especially if they had experienced the 2017 crazy bull run. "Strike while the iron is hot!":)

The most rediculous part is that people are in such a state of fomo that they are not even bothering to check if the project is legit.
Who are the people behind the new project. Is whitepaper and details on the website authentic.
I do not know who told all these people that they will make 100x by investing in every new defi. Investors should have a mature attitude and not blindly chase everything.

Got the message on it.

Its quite sad that some of the newbie investors are falling into this kind of traps. Creating and shilling the coin is very easy. Its quite funny that some of the projects' names are like "word that just pop out into their mind and just put it as the name of the project".

Anyway, I will say it again. Investors will not learn if they aren't experiencing mistakes so let them experience it. DeFi is the trend like now and it is like videos that are becoming viral :D. I will just wait for the hype to go down and maybe I will invest on some of the remaining ones.

I am still in shock that what has happened to the crypto community I mean everyone was so careful before investing in any new project especially after the fall of the big ico trend.
Seems like greed has onfe again taken over the community and to be honest it will not end well as most of the people will end up losing their investments.

Just look at the ETH addresses and see that the hype has build up already, lol. Very easy for someone who has enough knowledge to pull this kind of stunt and spread the word to make fast and easy money with the DeFi hype.

This is really an eye opening, I would say that this is real as it's get, but investors are still falling for it. I would say that it is really shocking but the only weapon to fight against this is knowledge and sharing to this community how dangerous this DeFi hype is.

It really is insane and to me is an indicator that we most likely at peak prices rite now. I mean if this isn't a sell signal what is. Also to highlight i joined a few of these airdrop groups yesterday and it is totally insane, i honestly cant believe how easily people get scammed. Just to put some perspective  in one telegram group i joined yesterday people gave some dude with coin name called bananas for apes  20 ether to provide liquidity and for transaction costs for sending the airdrops. And when he put up a zip file on the group for who would be airdropped the coins people started fighting for the next 20 mins because everyone was to scared to open it. I mean at that point you really have no one to blame but yourself.

All of these are capitalizing on The Meme, few, Many airdrops.

Just shows how much DEfi is like the ICO craze from 2017 with people sending money based on copy/pasted whitepapers

Yes, greed comes to the people because they see the big opportunity to go back to make a big profit from the Defi. It's been a long time for them not to make those profit, so they don't want to miss it right now. But we don't know when the Defi trend will end because that will be like the ICO and IEO that we already saw it before. You need to familiarize yourself and don't shock with what happened in the crypto world. Hopefully, we don't end up losing our money by investing in the wrong Defi project.

It's 2017 all over again when people are thinking that everything crypto related will be a huge success but replace word crypto with defi. I know it's fine hyping up about something but if it's to the point where even the shittiest defi project get full attention and being thrown money by these so called investor then it will become a huge mess in the future and probably become a disaster like the start of 2018 back then.

Nice write up, simply put this are the ways those scammers are going to work moving forward to catch unsuspecting victims. And we can't really do anything unless these noobs experience losses in their crypto journey.

Again, if there are no victims, these criminals are going to stop and won't even lift a finger. But the problem is that there are still investors who blindly trust people because they think that they can make money. On the contrary, they are going to lose more if they invest on pure greed and FOMO.

Or, what if, on the other hand create this project so promising that people would actually believe in it and then get blinded by how DeFi is getting ahead and then change your project all together just to be able to squeeze DeFi in there for baiting purposes, letting youre loyal lookers down?

I guess i said too much.

Many people don't realize how easy it is to make a defi project, only 5 easy steps to become a CEO and scam many investors. The hype defi has driven them crazy to get 200% profit without considering the risk of big losses, one should refrain from being swayed by the hype if they do not know about research and analysis.

For a scam project, it is easy as you present it, but for a real project it is far beyond this, just go and ask Yam developer how difficult it is to launch a trusted DEFI project, most of these projects you see you there apart from the forks are results of brainstorming, planning, several hours of coding and auditing. Look at Uniswap, Lend, Synthetic, Compound etc and compare then to Lulusawap

Nowadays many crypto people are investing on defi and like defi so much. I myself still want to know more about Defi, of course I plan to invest but still need to observe first, I always got scam that is why I will invest to a high earnings business.                                                                                                                                                                                                                                                                                                                                                                           

People are always in FOMO when new hype is coming they keep pouring in their money until these hypes become obsolete, his is who ICO, IEO and now DeFi, and people are riding the wave, many are losing money it's more like a gamble, I think gambling is much better, this hype will soon die down investors cannot keep up losing.

I think you nailed it mate! I hope some investors are here so they can read this message. Because it is true but still many are blinded and continue to ride the "Defi craze" in the name of profit they are willing to gamble and take the risk thats why history keeps repeating itself like (2017-2018 ICO craze) because they never learn thats why take some precautionary measures before dealing with Defi investments and dont buy the FOMO because its a TRAP.   

I am also very surprised how many people are putting their money nowhere.  Are people really ready to invest just like that, because everyone seems to know how many scammers have got divorced.  I am certainly convinced that there are really worthy projects.  But you need to filter a little and not give your money to just anyone.  Guys, turn on your brains.

Defi didnt bring scam, scam has always been with us in this space like we see in any hype or successful idea everywhere. I found most old crypto enthusiast to be very cautious with the Defi and this resulted in the late entry by many. Whereas many new investor benefited from it. We should be cautious risk taker in this space and try not to be left behind. I see more people in Defi with the correction but we may not see the size of pump for some of the successful Defi in the market like the new.

This love didn't just appear. Why are so many people so passionate about DeFi projects? Because they saw the unrealistic amounts that the "lucky ones" managed to get. Among my friends, crypto enthusiasts, there are those who took the risk and got rich. Some just picked project at random and pulled out a lucky ticket. I'm not a particularly risky person, and at some points I regret it.

Yeah, and the more ridiculous thing are the people pumping money in all this very obvious half a** scam project, they have taken over the entire space, and to crown it all they have their headquarter aka uniswap (the place where magic are made) to back them up, what more can they ask for   8)

4chan is just one example, you could buy twitter TT from all over the world from bots as well, there are real good bots and there are horrible ones as well, if you pick horrible ones it will be like "crypto banana apple toaster tv shoe @yourcoin" and it would make no sense, however if you pick the right one, it will have like 200 sentences shared and they will all share it thousands of times switching so it would look realistic.

Also you can pay influencers in crypto world to shill you as well. Get some sort of amazing designer and you will build a bitcointalk topic and you can buy one merit for like 20-30 dollars I think so you could buy like 20 which is good enough and get famous here. Basically marketing a fake one is quite easy if you are willing to spend money.

A lot of the stupid money from 2017 has returned into crypto in this DeFi craze, so I am not surprised that people are constantly falling for these kind of schemes. But then again, most of the /biz/ crowd is not that naive, they tend to be aware that the shilled token is garbage, they mostly enter their position in hope they are early enough and that they could dump their holdings a few days later on some naive latecomers.

Irrational buyers perhaps is the right term. This craze has created a lot of noobs investors again so scammers are going back to the easy way to make money out of it. Yeah, that's what I notice though /biz/ will always wanted to enter first and the then exit on before the whole madness exploded to those noobs. And the creator, since he is anonymous, will create a new token and repeat his scamming way.