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It's understandable that not all Defi project have something beneficial to offer the cryptocurrency space, most Defi projects are only interested in the market increase and that's why we need to be careful about investing in Defi project now. There's no doubt that the value of Defi tokens are on the increase and most investors in this space are only concerned about returns on investment.
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There's no doubt that Defi projects has come to stay in the cryptocurrency market, but I'm of the opinion that its over hyped and this has lead to several persons rushing into the market and it has caused a multiple effect on the value. The most prominent of the Defi projects is the YFI which has made a swift and substantial difference in value.
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Trust wallet is perfect for airdrop as it supports different tokens from the several blockchain projects. I believe that with trust wallet you have majority of the blockchain supported wallet to use for all your airdrop tasks. Airdrops are loosing their relevance because a majority of airdrops are worthless tokens, I'll prefer you join bounties, because they're more lucrative, generally.
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Just an advice from me to you, do not invest in new YFI copycats popping up on daily basis due to the huge success of YFI. We all saw the surge with YFI price currently above 22,000$ which surpasses BTC price right now. This is causing a lot of FOMO and scammers are taking advantage to launch their own scam coins (YFI copycats). Examples are YFIE, YFIS which launched even without website or team information, yet people still FOMO to buy. Be careful please, just a peaceful advise.
Thanks for the heads up, I was surprised when I read about YFI. The major reason why the value increased that much was because of the supply of only 30,000 tokens and the tokens was earned by carrying out task in providing liquidity for other tokens of the project. Most people may get confused about the project name and invest in other similar ones without a use case |
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I personally would move my funds to dogecoin or any other project Inorder to save costs especially when transferring from an exchange. The transaction fee for ethereum is way too high and I would rather wait for the transaction fee to drop than send on 300gwei. That's over $10, and it's not convenient for me. I wish this issue with ethereum could be resolved sooner.
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Despite the fact that it's not reasonable for one to continue from a dead altcoin project, because it would take almost same effort to start the process of a new one. One obviously needs to start by having a discussion and agreement with the dead project team or developer, the developer has to be carried along with progress and this could be tasking for the resuscitating developer.
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As we all could see, the market experienced a substantial boost this year and the value of several coin and tokens had a massive increase. In my opinion, the race is not over as we would still be having a good run after the present break we're having. I'll prefer to say that this is an opportunity for those who didn't join the race to get their shoes on because the race in this last quarter of the year, would be more intense.
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It would be smoothing to have Defi replace traditional banking services, but that would be very difficult to accomplish. As it stands cryptocurrency is barely recognised as a legal tender in several countries which makes it difficult for holders to utilise it for offline transactions. The adoption of cryptocurrency would be a great boost to having Decentralized finance replace traditional banking.
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What are you views and thoughts about flamingo finance? There's not much info out there about it yet.
I can't remember the last time we heard of a project using the Neo blockchain. It feels like Neo is no longer in the business of smart contracts. I must also add that Neo blockchain is not as swift as ethereum, though ethereum transactions requires the use of gas which is spent upon transactions, but Neo reward her holders with gas. |
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The use of cryptocurrency to pay for goods and services is something great which is coming to limelight, gradually. I remember bitcoin was once accepted for payments in several institutions and companies, but lately ethereum is joining in the cryptocurrency used as a means of settling payments.
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I sincerely never thought that fake volumes on exchanges is a criminal offence until now. I guess south Korea must be a very disciplined country to array the ceo of the exchange. Most exchange I know, use fake volumes and this has been going on since the inception. I hope other exchange learn from this and endeavour to be totally open
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There's no doubt that the old good days of bounty hunting is no more and projects can only offer to give a little percentage of their tokens at ICO price only for the value to dump beyond recognition after the tokens are listed. Some projects would still wait until the tokens had been totally drained before distributing the bounty tokens.
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I'm certain that Bitcoin is more valuable than gold, but due to the volatility nature of cryptocurrency, I'll rather invest in gold or real estate because the value is relatively stable and has intrinsic value which could be enjoyable to me. I remember bitcoin was the best practising currency in the world at year 2017. Hopefully, we would be having more cryptocurrency whose value can contend with Bitcoin and others.
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Gone are the days when people invested in new projects through tokensales, now its best to wait for the value to drop significantly when the tokens hit the market. I know of a project holding her tokensales presently and the tokens are already traded lesser than the IEO price at a decentralized exchange. I'll rather be patient and see how the project goes before investing my money in it.
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I noticed Neo has experienced some increasing movements lately and I really don't know what's behind the increase, but I still believe that the increase would be continuous as the worth of the Neo is still undervalued.
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My regrets in the space is far back in 2017, where I was busy investing in scam ICO's and ponzi schemes which rendered my savings empty. I may have made much profits from the bull run of 2017, but I had only a couple of cryptocurrency with value and since I was still very new to the industry. I barely made any profit from the bull run.
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The issue about converting profits to fiat or stablecoin is because you loose out of the pumps. We always want to keep profiting out of the market and this is one of the reasons why we end up loosing everything. My advice is to always take some profit and convert to fiat. Holding fiat is much safer than cryptocurrency on an exchange, as we all know, anything can happen.
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The cryptocurrency industry is open to every prospect. We all have the same opportunity to explore and make a name for ourselves, just like Satoshi Nakomoto or Vitalik, what is required is just our imagination. Ethereum which is the second most popular coin, was the brain child of Vitalik who wanted to give everyone an opportunity to create smart contracts and with the initiative, he's one of the fore runners in the cryptocurrency space. Every project has the potential to do much more, if they can bring their ideas to reality.
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I honestly still have confidence in some altcoins in the space, I hold ethereum without any fear because I know the worth is still undervalued, same with binance token, Neo, cardano, and other great projects. I must confess that we have many more worthless altcoin, and only few are worth holding.
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