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A huge bummer for sure regardless the fact that users will get their funds back. I know that Kucoin is not the biggest exchange and listing there is not an event that would be broadly celebrated, but I love it, I use it always when I have to tether my ETH or vice versa, it is super easy and fast and I have had zero issues with them so far, so it is really unfortunate that this happened to them.
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Well, if you have had a good ROI from 12 of your 15 investments, you are doing great, but your "luck" could turn for 180 degrees pretty quickly if you are participating in the yield farming craze, this project that you mentioned indeed looks like one of the many yi fi clones, so be prepared to potentially go from hero to zero.
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Every crypto veteran is used of these kind of sudden price movements, but it still hurts a bit to witness it over and over again, I am not gonna lie. If you are here for the long run, you should learn how not to be phased when those fluctuations happen as this will relieve your stress levels and you will consequentially survive in this space for much longer.
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The whole premise of the original post is silly. A complete market has had a deep dip/consolidation, so DeFi projects followed that pattern. Regardless the hype, they are not resistant of the makro market movements, so if you believe in the long term success of the DeFi scene, now it could be a solid buying opportunity for sure.
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It wont go away, that is just wishful thinking. People will still join shady bounty campaigns regardless the obvious red flags. The bounty section is a wild west and anyone can open a campaign with fraudulent intentions, which is completely understandable. You just have to learn to live with it, its a part of the game, sometimes you win, sometimes you loose, bounty hunting is sort of a lottery.
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I think that Uniswap has too big of a first mover advantage to be dethroned by any competitor. It is a similar situation as with the ETH and its later (gazillion tps) competitors which were claiming ad nauseam that they will replace ETH as the "default" smart contract protocol. Uniswap is here to stay if they manage to continue with the constant stream of developments.
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I am not invested in it and I am not defending this specific project, but all of the mentioned "red flags" can be found in more than a half of the upcoming DeFi projects, so to call out this specific one is kinda suspicions, especially if you take into account that the project is not even hyped or regarded as a safe investment. It smells like the OP is trying to stir up some FUD just for the sake of it.
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Not a chance, I dont trust anyone in the crypto space haha, I use those crypto-related Telegram groups solely to keep myself up to date with the crypto scene and to sniff out any upcoming exciting projects. And if this happens, if I manage to stumble upon any project of that kind, I always do my own due dilligence, trusting anonymous folks on the internet is bonkers.
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Not necessarily, that spike is not a good indicator of any future growth as basically every shitcoin has had that spike back in the 2017 bull market. So I would say that more than 90% of those ATHs will never be reached again as a lot of those projects that have received a decent amount of hype back then will slowly but surely drift to obscurity and get replaced by newer, more advanced alternatives.
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Not really sure why something would happen if Tether becomes #2, it probably will at some point, as they can pump new tether out whenever they want. I dont think many people see Tether as any type of threat to other currencies, it is just there, it exists as a hedge and not as an investing opportunity, so who really cares.
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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.
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I think that most bounty hunters have already accepted those risk as being "part of the game", so usually they dont get overly disappointing or upset when it happens. But this cannot be avoided completely, even if all bounty managers implement the escrow system, you can still receive worthless tokens or even the fake ones as the team behind the project can create multiple tokens with different contracts.
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I can see NFTs boom in the future, but then again, if you compare it to the DeFi sector, it has a much narrower use-case, so I doubt it would last as long as the DeFi craze. But who knows what will happen in 2021, I doubt many people were expecting the DeFi insanity last year, so in 2021 the hype could again gravitate towards something totally unpredictable.
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Spray your money into 30 different projects and pray  That was my initial strategy when I was introduced to the crypto world, now I tend to be more level headed. Do your due diligence, choose your picks, dont follow the hype and be up to date with development regarding your picks - if they fail to deliver, move on and repeat the process. |
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Escrowing bounty tokens would definitely be a right step forward to secure the payment to bounty participants, but I assume not many projects are prepared to do that. I noticed that some bounty platforms (like the bounty0x) have started accepting only bounty hosts that provide their tokens to the escrow and I think that others should adopt this strategy as well.
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People that are expecting UNI to be a trillion dollars MC are out of their minds haha. I dont see it going over 10$ in the short term, but top 20 per MC is definitely reachable in the mid term imo. It surely has a crazy potential, but even mentioning a trillion dollars MC makes you look like a loonie, be realistic.
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In my humble opinion, I think that UNI has definitely a good chance to enter top 20 in the coming weeks, but I dont see Sushi doing the same, Sushi is yesterdays news now that Uniswap has its own token. The daily trading volumes of UNI are insane, I have not seen such dominance in years when it comes to newly listed tokens.
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I am not a demanding costumer when it comes to exchanges. All I need is speed and a customer friendly user interface (that of course doesn't mean I would tolerate any shenanigans regarding withdrawals, insanely high fees etc). So I prefer to use Kucoin or even Binance if there is necessity.
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New (and upcoming) DeFi projects are popping up left and right, but I would say that dfinance kinda stands out from the bunch, I also like Linear Finance, PlotX, Ramp and some others, but here you have to be quite careful with investing as they volatility is/will be insane, so it is better to enter your position when the price settles.
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