Can you trust Defi projects??

[mirgo1791]

with different basics on customs of ideal preference pupils might defines of decision with uses of possession with the distinct of ideal science to refer of one on decision as might to gains of involvement with the startup project to returns with the difference on expectation.

[GreenStox]

actually you have to see it for yourself and get experience from the results of your own research, then you can put it into practice in the next project. don't be afraid to try because someone's analysis will not always be correct.

[totoy4741]

Defi projects are not safe investments. Defi Project is actually what we so called HYiP back in the day a High Yield invesment program where you can generates passive income in just a short period of time with high risk of being a scam. But if think you think that they are not as fishy as you think you can try it for yoursel.

[qory]

Honestly haven't been invested to any DeFi projects until now I've seen so many scams DeFi project all around the forum I've also seen some legitimate projects that was listed on the exchange and after some time or after listing some user or the developers themselves dumps all of their token and run away.

[TanakabZX]

When all this DeFi hype is finally over those who failed to take their project and exit will end up in huge loss, only very few DeFi projects are worth investing on right now, many of DeFi projects are just stealing people's money, it's a bad thing not to learn before becoming a crypto investor

[Dariusburst]

I don't trust any DeFi projects are have anonymous team or just the farming use case which is what majority of new DeFi projects are showing off, same ole thing, I like DeFi projects that are more than just farming e.g

1. Ferrum Network
2. DIA
3. Compound
4. Chainlink

[Inkdatar]

I have doubt investing in any defi project until now although a lot of appearing in this industry. There's so much hype that other people just go with the trend to earn a profit. I can say there are still legitimate project all you have to do is thorough research on which is good to invest that offer real product.

[rat03gopoh]

[And i read the white paper ,but I coudn't find a wrong with that , tell me if you found any issue]

You have to change the way you research a project like the expert's ways.
this is what I found:
please go to the "KEY PRODUCTS" section of WPP (page 11)

Unlike traditional EHR, which is expensive, insecure and in-efficient, the Veda Health Portal strives to use a blockchain-based  model  for  maintaining  its  data  distribution  and  ownership  access  and  granting  robust  access to a patient's medical record. Veda will utilize a consortium blockchain technology called Hyperledger, which  helps  it  link  directly  to  the  EHR.  Patients  will  be  able  to  choose  to  grant  different  levels  of  access  to  physicians  regardless  of  the  physician's  EHR.  Moreover,  a  physician  will  add  data  in  the  blockchain,  which  is  then mirrored in the EHR in real-time, allowing the original record to remain up-to-date. Furthermore, the Veda Health Portal will also enable other dApp developers and existing EHR vendors to connect to its blockchain network. This will eliminate the need for providers to duplicate entries in their original EHRs  and  the  blockchain  by  linking  all  records  through  one  data  entry  point.  Additionally,  the  blockchain  technology will give patients a key to access their own data

Original:

The blockchain technology, called Hyperledger, links directly to the EHR that includes a patient portal. Patients can choose to grant different levels of access to physicians regardless of the physician's EHR. The physician can add data in the blockchain, which is then mirrored in the EHR in real-time, allowing the original record to remain up-to-date.

MTBC is also allowing other EHR vendors to connect to the blockchain. This will eliminate the need for providers to duplicate entries in their original EHRs and in the blockchain by linking all records through one data entry point. Additionally, the blockchain technology will give patients a key to access their own data.

It's like using a word spinner. I've only examined a fraction of the entire WPP content, but this could be the first clue to spot other gaps in this project.
actually I also suspect the team photos.

[Btra]

I trust the Defi project but only for now. As long as this term Defi buzzing in everybody's ear till then I think the project investment will give some profit. So, I look for the short term always after the 2018 crash in crypto that is still ongoing.

[Eureka_07]

<snip>
One of my crypto teacher (my friend ) has invested [He has earned 3500$+ profit by investing an another project in last 3 months] thats why im following him i[/li][/list]
<snip>

What kind of investment did your teacher take?
Are you sure he/she really had that, and was able to withdraw his investments together with the profit?
$3500, is large amount of money for 3 months, somehow unbelievable, tell us how much he/she invested.
Be careful, it might be a ponzi or a pyramid scheme.

You know not all DeFi projects can be trusted, so you know what will be the answer to that question.
There are lots of traps that scammers will made using those "Defi Projects", ofcourse using the hype.
They are taking advantage of that hype, and will do such silly things to attract investors.
Lots of people I hear that this DeFi is just like ICO/IEO, it will eventually lose the hype.

[irixo10]

I can hardly trust any new project to the extent of holding because on many cases they failed to live upto expectations, thus if I am going for a project, there is very tendency is will sell once I am in profit. Now about trusting Defi projects, with the hype still here with us but although it's down unlike before, I think trusting any Defi project now is not really a good idea, I will have to wait till the whole hype is over, then the projects starts displaying their true nature, then I can know the one to trust.
Also, thinking of a project to invest in, I agree with your reasons but I think the first thing that should come to mind is what the team are working on, that is the use case and if they can achieve it based on their experiences. Since you have read the whitepaper also, you can ask them questions during their AMA to understand more about them.

[uray]

Lots of people I hear that this DeFi is just like ICO/IEO, it will eventually lose the hype.

The comparison will be the amount of scammers in the market. The scammers will always look to take advantage of any development and then run away with the millions they collect and they rinse and repeat the situation every time and that is what we are seeing in the cryptocurrency market. Either we need to end this blind trust of trusting every project nor we need a solution so that we could trust with our investment. A lot of these developments if done in the right way is a game changer but unfortunately that is not what we are seeing.

[ingiltere]

Hello , as my hobby , again um doing my  research on new " Defi healthcare " Project. The Name of the Project is "medicalVEDA" and This is a Chinese canadian project. I'm telling about this project is due to following reasons , BUT i have some doubts as well , so that's why i need your opinions before investing to their IEO..

Reasons are :

• Partners
• Team members were directly contacted by me
• Active Telegram group
• One of my crypto teacher (my friend ) has invested [He has earned 3500$+ profit by investing an another project in last 3 months] thats why im following him i

[And i read the white paper ,but I coudn't find a wrong with that , tell me if you found any issue]

, So these are the reasons , Tell me your opinions against my reasons and if you have invested to this project kindly tell me the reasons for that..

You asked a general question in topic title but when I read OP you talk about a specific project.
Replying to title, no, I don't trust any of these defi projects. I believe defi showed us new kind of digital investment technique but it's not completed. Maybe in the future there will be a new project that follows these steps and bring us something new. Currently we see only failed or scam projects.

I could easily say this "defi healthcare project" is a scam. Just like %99 of others in the business already.

[LogitechMouse]

As of now, I only trust one DeFi project and that is ChainLink.

The rest?? I don't want to say that they aren't trusted at all but what I can say is that all of them are doubtful for now because anytime some of these DeFi projects may just run away with the money they got.
Now regarding to your reasons why you are asking our opinions I will answer it one by one:
1. Partners isn't a concrete reason that a project will become successful. I still remember one project and they put Roger Ver in the team but ended up a fail. Partners and popular persons are just being inserted there just to get some money at least.
2. Direct contact coming from them is a red flag for me already. I don't want to entertain DM's coming from strangers at all.
3. Active telegram doesn't mean that they will be a successful project. I've seen numerous telegram groups with a huge community (some are at around 100K members too) and ended up being a scam coin or a dead coin.
4. Nothing to say with this. If you really want to invest then just use a small amount on it. After all it is your own money so invest at your own risk.

[Fivestar4everMVP]

I can't trust any defi project until they prove them selves to be worthy of my trust, I recently lost almost 2 eth I invested in a defi project and its so heartbreaking cus I foolishly trusted the team.

What I will advice is do your research very well, don't even trust the opinion of other people cus at the end, you are the only one responsible for your investment decisions , those who adviced you to invest will not pay back your money if you loose it, so be very conscious when you make investment decisions.

[Squezzi55]

Yes cos some DeFi projects are too damn good, and that's why many scammers are creating and building their own fake version of coins and tokens, all we need to do is research, follow the promising projects that have what it takes and throw away the lesser ones

[H1N1]

Well, if you found your reason to investing on the project and can't find something wrong about the project at all after you researching about the project, then why are you still in doubt ?
Usually, doubt comes with something wrong we found and we need to take a look carefully through the project once again.
As long as you can afford to invest and lose, you should invest when you can.

[Ayiranorea]

DEFI projects in other terms serve to be a bridging between the traditional finance and blockchain. Trust on DEFI is high, and the investment over it keeps growing with time. Wherever there is money flow there'll be scammers, DEFI too isn't an exception. With cryptocurrency ICO, IEO, DEFI everything is associated with money directly and indirectly. It is our responsibility to analyse to the core and make use of it.

[fullhdpixel]

Someone pointed out that it's kind of fishy that they are using the word Veda which is an Indian word that means eternal knowledge, because if they are a from any country other than that, they would have used something different.

Well, as for me, that's not something serious, using words that belongs to other countries and languages is not something new. There some businesses I know that are using Greek words, or french, but they are not located in any of these two countries. Anyone can decide to do anything just to appear unique or something like that. For me it would be the team that the focus should be on, whether they are verified and active. Check their social account and the rest.