The y series have become a trending topic on most social media.
Yfi (Yearn finance)
Yfii (DeFi money)
Yffi (Yffi finance)
Yfl (Yf link)
Yfv (Yf value)
Yfie (Yfi exchange)
Yfis (Yfiscurity)
Yft (Yield farming token)
Yffarm (Yearn Finance Farm) I see this last one, as a big scam.
My concern is, with the high rate of pump in all these ys, what happens to investors, if it dumps terribly back.. Or glitches like yam. It's scary seeing so much campaign on ys. Who knows how long this will go for.
Posting this incase anyone is investing.. Please be cautious of your investment. Don't get carried away with the hype and follow up with them all incase there is a red flag. So you don't get caught.
Asides from the y series, majority of the defi projects out now are scam projects. Just that many fall for the y series cos of the yfi hype. Just yesterday, 7 projects rugged and 5 started with the letter Y. People rushing for the y series are in for a big bubble burst soon. And for the common ones like yfi and Yfii, if you are investing, do so with what you can afford to loose. |
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Alot already springing out as a clone or fork or in partner with yfi. Just like the poster had said, one have to watch out carefully.. But only yfi copycats, but so many copycats of defi projects, they are all out to scam gullible ones, watch carefully, do your own research on projects and its team, before you invest. Let's protect our fiat will all we can. Crypto is risky, so risk carefully.
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At times name goes with project use case, but in most cases, name does not matter. All that matters is the project delivering what its promised. Don't fish for names before investing. Do your checks properly before going in to invest. Don't fall in love with any new project or name, else you get carried away and get dumped on.
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So many new projects with use cases that are useless and not real. They just spring out to scam or later exit scam when there use case yield nothing. It's good to understand what you are trying to implement and send out your use case for proper use. Not just a use case for the internet or Whitepaper. So many shitty projects now.
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Many exhange token are so useless presently.. Can't count the numerous I got in the past, still holding and so useless in value. Compared to the top 10 like binance, huobi, kucoin and others. One thing is I presently no longer believe in new project exchange token, they are perfect waste of time, when it comes to investment.
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Bounty rewards always get shitty with so many crowd. Only few ones with participant targets pay well, but even some still pay shitty reward or token gets bad at the end of the campaign. The only thing to watch out for is good bounty managers hosting good campaigns with accurate reward. Tho hard to come by, but pays to work with and get good reward.
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The hype is crazy.. Many defi projects are scams and the real ones are being hyped for profit. And the old ones going into defi, hopefully they become better in future or fade off. But one thing is sure, defi is safe, but the bad eggs are making it all look like scam and it's really making investors scared to invest. Defi is the new trend. Even binance and top cryptocurrency whales support defi.
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My biggest regret is not buying yfi when I saw it at $32 and then it rose to $17000, before finally stopped at $14000. Even if it was said to initially Bea scam. It later turned out real and many who invested are In huge profit and the project is still doing well.. Kudos to the team. I missed the shot and kinda regret it. Hahaha! Anyway. I was only being careful of my funds. Especially with the rate alot of scammy defi springs up.
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Op is actually correct, but it's difficult for developers and bm to do so, looking at the funds already put into the project. But if really it can be implemented, then the hunters will decide if to buy the token or stay with reward. And also the team will be rest assured there native token is not dumped by there supposed hunters. It's a good idea by the op, tho few team do this, but will all project team and Bounty managers do this? And save themselves the fear of dump?
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First, cryptocurrency market is not our friend, we need to study the market carefully before investing and to save our investment, we need stay updated with the projects we invested in and also if there are lapses in the projects, we know when to convert to USDT and be safe. All we need do is stay updated with your investment and know when to hold or convert to USDT.
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Is FORSAGE a Ponzi scheme? Buying ethereum to keep and buying ethereum to invest in forsage, which is better?
Forsage is 100% ponzi, I have Sen many ponzi marketers, claiming there platform is not ponzi, and end up crashing.. Same as forsage team and investors will try to convince you that it's not a ponzi. Vitalik or not, it is a ponzi scheme, and if you want to invest, be sure to invest with what you can afford to loose. Cos it's bound to crash anytime, that is if it has not crashed and except the dev is your family member. |
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That is why, it is advisable to do your proper research on projects before investing. There would have been done signs and traces that it might not succeed. Besides you don't just buy a coin and keep without following up with the projects on there social media. Reviews from there social media will also help to know when to dump. Lest always try and e careful investing in on coins at the verge of dieing. |
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This is no drama, it's just a normal phase in crypto when the market fluctuates, if you (op) ask what to do? I will advise to hold, all depends on the token you invested in. But at this time of market instability, all we gat do is to hold and see the final market direction. Crypto is about patient and not a quick to get rich space.
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Resently there have been lots of whack projects, hunters know a valuable token when they see one, not all token is being dumped by hunters. The same motive to earn by some hunters is also same motive investors have got in mind. Some investors also buy tokens to earn and dump immediately its listed. Dumping can happen, either by hunters, investors or the team. All depends on the team management.
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Many coins will not be relevant in months to come, let alone 2 years. If you filling your bags and want to see the potential in next 2 years, it has to be the top 10 stable coins. Else you have to be very smart, investing in new coins, that could exit scam anytime, which in my opinion, not advisable. Just like the op posted... Fill your bags with caution.
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This is a season many people tend to invest as the market seem bullish. But they don't consider being wise, they just see the rush and promising features and dive into it. Just like op had said, it's very important to consider your finance and be wise. To avoid getting rugged. Many eth sulkers are out there to sulk out all your eth through scam. Be very careful guys.
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Anything can happen in the crypto world.. Just like watching yfi go from $31 to $13000, no one knows what the xiot team plans are and how they intend to grow the project.. If yfi can reach $13000 then any project can do same or better. All I can say is if anyone is investing in present tokens, they should do that with caution.
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Not in all cases, depends on the project, if it's worth holding, fine, else it's best to swing trades or dump for better projects.. Holding at times don't work for all projects. Also op is totally correct where it's states that knowing when to hold.. But what about knowing project to hold. Well, holding is good, but depends on the project and the season.
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Totally no, bounty and airdrop don't kill projects. Projects die due to lack of management or scam. Some bounty hunters don't even receive reward and yet project dies, some get locked and yet project dies, some hold with believe and also project dies, so in my own thoughts, not the hunters who kill the projects, but the team poor management.
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I still have total and strong confidence in altcoin. Besides this is alts season for me. Most altcoin are doing well along with Bitcoin itself. So I with gladness still strongly belive in altcoin even if they can overrule. At least it's meant to take profit and in an investment, where you are taking profit, then it's a win win. For me, altcoin is still a good to go and I have confidence trading them.
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