Bitcoin Forum

i have been scrolling down the bounties section and seen so many projects related to Defi and Bitcoin but i cannot understand how the new project like Defi is giving a hard time to BTC and even to other altcoins like ETH and ripple and many more?

every post and campaign i am seeing is about Defi and its making more money than others/

why?  ???

No DEFI sector is a new round of technological breakthrough in the field of investment and finance, so I think that the coexistence of these technologies will be for the benefit of the entire cryptocurrency community. Time, as usual, will put everything in its place.

Simply put, DeFi arrival in the cryptocurrency industry is a promising alternative. let's say that right now we will be very difficult to find a bounty with bitcoin payments. although there are, there will be limited and also with stages that are not affordable for newcomers to this forum. here DeFi is the middleman, coupled with new projects that have sprung up based on DeFi, so I think it is time DeFi provides a new space for bounty hunters in this forum.

What hard time do you mean? Im confuse about it. But instead of a DeFi compete with BTC, Sovryn try to be DeFi for Bitcoin.
You can search about Sovryn in my signature  ;)

Defi is a decentralized finance platform and the defi already used for the various purpose. Defi can't compete with bitcoin as it has a different purpose. You can see the defi platform already created for the various purposes just like lending, game and many more. Defi is an infrastructure that already developed for the crypto (include bitcoin, ethereum and many more).


What do you mean about more money? is it refer to the allocation?

Defi is good, but not so much. Therefore, the guys who observed this coin in previous posts correctly detected - that is just a infrastructure. My mind this equity was incorrect.

DeFi projects are many you know, putting all DeFi projects vs bitcoin isn't a fair head to head challenge to me, also most DeFi projects are nothing but empty words and fake promises, too many DeFi projects got hacked since 2020, you can't compare the security level of bitcoin with DeFi projects, bitcoin is just safer

DeFi is fair enough but many of them new DeFi projects are rubbish, they treat DeFi like a centralized crypto project, they change smart contract when they feel like, they aren't practising decentralized at all, the only few DeFi  projects I trust are ChainLink, Polkadot and Avalanche, still none of these projects are better than BTC

Come on dear DeFi is a kind of crypto banking and financial service that works in a decentralized way. Ethereum and bitcoon along with ther coins are vastly traded, invested, farmed or staked using defi platforms so it is like a business side of crypto market and it would be great for adoption.

because now the hype still exist on defi-type project mate
but i don't think defi can compete with bitcoin, thats very impossible for me
regards

As far as bounty campaigns are concerned unfortunately most campaogns listed that are defi based are very low quality projects that will most likely scam people, I have experienced it myself and that is why im not promoting such campaigns now. As far as comparison of defi with btc is concerned i think it is totally wrong it is like comparig apples with oranges.

I won't dare compare DeFi projects with btc, the difference is big, I think DeFi projects like DOT and Aavax are better compared to Ethereum and also Polkadot has polkastarter which works like smart contract too, these projects are so good but can't be compared to bitcoin

You don't have to be confused about Defi and BTC. There's nothing for us to compare about these two. Bitcoin will remain the top of all of these coins/defis.
And the hype that these defis have can be gone in a year or two depending to the response of the people. Just like the ICO/IEO, when their hype was gone, most projects don't proceed anymore.

Not by a long shot, Defi is just pure hype, so after it die or the hype is gone, the price can go down. While Bitcoin remains the prime mover in crypto so there's no comparison to begin with. What do you mean that it is giving Bitcoin a hard time, haven't you seen that the price is going to the moon? We are just about to touch $50,000 . So I don't understand where you get that idea.

The risk is also greater in this Defi, you just have to check the amount of money being lost to scammers and hackers who find exploits on some Defi platforms.

There is nothing there to compete about because DeFi and BTC have different use cases, also DeFi isn't a single project but BTC is just one, DeFi projects have different use cases and it doesn't feel right to put DeFi against BTC

There are one main difference between them. At least somebody really use btc as a currency and no one really use defi as finance services

I don't think there is need for DEFI section here they should all be under Alternative currencies, when Privacy was the this, I don't think there was a section for Privacy coin like Smart contract. The think about DEFI now is that everyone wants to ride the hype and in the coming circle we will likely see new theme make people money. It is the turn of DEFI

DeFi themselves cant compete with BTC. DeFi's own fighter is actually ETH. Ethereum is gaining so much because of DeFi. The high gas fees is what most people are talking about and are irritated about it lol BTC (https://trade.kucoin.com/BTC-USDT) and ETH (https://trade.kucoin.com/ETH-BTC) are leading the market right now. Volumes are very important in this times. Gotta hold the both of them.

Defi project can win over just the only one Bitcoin in crypto in numbers, not because of its potentiality and profit gains. Because the honest thing is that, among these numbers, only a few of them got an impressive value while the majority of them are gone quiet and worthless.

The truth is that there is no other coin grateful than Bitcoin.

You know that the first crypto type of digital currency issued and known to the public in this world is Bitcoin, its technological development is far different from other types of crypto, including defi.

Bitcoin is traded in a decentralized manner, cannot be controlled and determined by any party, this is the basic point.

Defi a project developed by companies and investors with the aim of collecting profits in other ways, defi is in the form of several types of coins currently circulating with limited capacities, very few, for example YFI etc. only 30,000 coins exist.
What you need to know, if one day companies and investors are no longer focused on defi projects, all of these coins can return to their bottom price.

do not look at current prices, going forward.

Defi is very different from Bitcoin from everything including its development, which means: defi cannot compete with Bitcoin in any way for now and into the future.
If explained here it may take several pages to write down the reasons why the defi project cannot compete with Bitcoin.

Defi is just a sphere and of course the technologies and capabilities of defi sphere are incredible, but if we will talk about cryptocurrencies, then bitcoin, as it was in the first place, will continue to be in the first place in the future, and the defi sphere appeared only recently, and of course there is a huge hype around defi the sphere and defi projects, but I don't see that this somehow badly affects bitcoin, on the contrary, bitcoin only grows in price, so I am glad that the defi sphere is so popular and is developing so successfully.

I totally agree with you, DEFI will in many ways transform the financial sector and I personally feel that in the near future people will trust DEFI as a better way to do  financial activity, given the fact that DEFI shares power amongst the party involve that will be an advantage for adopting DEFI.

You said the Defi project made Bitcoin difficult, Can you explain in what ways the Defi project makes the bitcoin difficult.?
The Defi phenomenon is an increasingly advanced development of the crypto world.  After ICO and IEO, now Defi is dominating, and until now the hype is still there in the defi project.  So it doesn't make a sense if Defi tries to compete with Bitcoin, because it will never happen.

DeFi projects can only compete among themselves not with btc, not with Ethereum, there is a big difference between a project that's old and already have too much popularity than a project that just come around probably a year ago, it doesn't make sense to compare

Defi is giving hard time to bitcoin? I dont think so. Even defi hype happened, btc is not really affected by it.

Many investors join the hype but it didnt last long, and just like the past ICO and IEO it might have the same ending if people are already tired of it due to scam.

I agree with you. many investors probably are simply following the current DeFi hype. but they are only temporary and will not last long. The very powerful ICOs developing altcoins were once considered very successful. Likewise, IEO is considered as a solution. but when scammers start coming the market starts to get quiet. and the alternative that is always trusted is the top market assets with large capitalization.

DeFi is indeed good and has very sustainining projects in the crypto currency space; with good amount of adoptions too, but it cannot compete with bitcoin; etherum, ripple with amass of volume has yet to compete with bitcoin; defi has yet to compete with etherum, then bitcoin ? By now you should understand how the markets work, do not let your emotions get a better of you at all.

Always do your own research.

do you mean compete in what way? between projects or pricing issues? If it is related to projects, of crouse there are many projects that have sprung up or paid participants in the form of BTC, and such projects are often followed by many bounty hunters, especially because of the guaranteed payment system in the form (BTC). but for the problem the price of Defi projects varies. Although Defi can now be said to be a new alternative for short-term investments, it is important to remember that DEFI is very risky. You need to be vigilant before investing in the hype Defi.

I thought to think of it as a competitor would be ridiculous. DeFi project won't match BTC. Indeed, currently, the DeFi project is popular and was born in several project concepts. but it's like an ICO project, when the scammers start coming it's at risk of being immediately abandoned by the community.

Making more money? Are you sure? For how long do they make "more" money? I understand that such project could be invested with lots of $$$$$$$.
But in longer term, are you sure that such project will still make "more money"?
I wonder why Bitcoin is still in number 1, ey?

DeFi generally runs with smart contracts on the Ethereum platform and even if defi has quite a lot of popularity right now, we can't necessarily compare it to bitcoin, as we know that bitcoin is a crypto that has its own uniqueness without depending on other blockchain platforms, while defi run on the help of smart contracts on the ethereum platform and one of the causes of the current defi price increase is also the impact of the increase in bitcoin prices which are starting to be accepted by many people.

You should really have both bitcoin and ethereum on your bag on the first place, DeFi might be on the craze right now but anytime its trend can be killed and most defi projects will also die meanwhile, Bitcoin and Ethereum are both still proving that they are the leaders of the cryptocurrency market.

Defi being created as a money generator by developers to provide the alternative decentralized financial system to make the centralized system that runs by the bank became obsolete. That has different purpose than bitcoin and bitcoin is a coin that already created to be internet's currency that will be adopted by all of people in the future.
The defi was giving more value to the crypto as the crypto can be used for the various purpose like lending, leverage and margin trading, market making and many more.
That means defi is a tool for crypto and no more. it's not comparable with mother of crypto.

Right now nope, BTC  (https://trade.kucoin.com/BTC-USDT)is high demand rather than getting DEFI tokens you should buy more Bitcoin as it's price will surge high more

I do agree with you. Because BTC and ETH are both never able to surpass by any cryptos or coin. Well, maybe more other coins are stepping into the new ATH now, but as a holder and trader, you should not really just stick to it, much preferred to have a larger amount of BTC (https://trade.kucoin.com/BTC-USDT) and ETH (https://trade.kucoin.com/ETH-BTC) in the bag. Well, as much as I do, these two are what I usually trade on the exchange.

We already saw the YFI price pass bitcoin price and it still increases while bitcoin does not want to increase higher for now. But bitcoin price will increase and start the next rally soon. But if we talk about the popularity, bitcoin will still be popular among the other coin, including Defi, because people's attention is now on bitcoin, and they want to profit from bitcoin. Only some people want to make a profit from DeFi. The DeFi attracts people to invest in their project because it can give them a short time profit, but we do not know what will happen to them. But bitcoin will online for a long time, and the price will increase from now on.

Defi is now making a good profit in bitcoin will just rise in price in the future. Defi may lose its hype in the future, while bitcoin is still at the beginning of its journey.
Keep some of your portfolio in bitcoin anyway.

No chance, bitcoin will continue to grow and will dominate the entire market, even De-Fi.

Bitcoin is proven through time and De-Fi could probably be like an ICO that will disappear in the long run.
So, please don't think of comparing any asset to bitcoin as bitcoin is the king and no other asset is better than bitcoin.

Bitcoin will keep it's hype forever and it's a stable hype but with DeFi everything is different, almost every week one DeFi project must be compromised or hacked, many DeFi projects will go down once this bull season is over because that's what I believe, only very little DeFi projects know what they are actually doing

Because most DeFis are created for the sake of the owner's pockets. Those hacking incidents, I believe, were more of inside job. They just put the word that it was hack. We couldn't tell the absolute truth as only the team can really know what really happened. And yes, after this hype, I don't know what the future of DeFi will be. They won't ever compete with btc.