Y series trends... What do you think?

[zasad@]

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.

A bad example is contagious.
Everyone wants to get a very quick profit, but according to statistics, they only get losses. Those who saw how the prices of coins and tokens fell sharply in 2018 are more cautious about investing.

I am writing here about scams and risky investments
https://bitcointalk.org/index.php?topic=5268573
But that doesn't help, people are still willing to try their luck.

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[imstillthebest]

Y series ? That sounds like a mobile phone series haha . Yes it was funny and not be treated as serious  .

 These series are one of the many coin series on the past and all of them ended on one direction that was to go downwards but never returned to normal . that one y coin on the list did also use defi  aside from the " y" name , Thats so greedy because they are using two terms that recently  got hyped  .  

[Yogee]

......
The yffarm, are bunch of Nigerians, there is no transparency, I initially tried checking out the team few days back when I joined the group and today they have changed there real pictures to avarters. Raising Presale today and staying active to remove anyone who ask questions they can't defend. A bunch of red flag attached to that project tho.

There are many of this kind of projects out there, springing out daily, and the gullible ones fall victim.

No disrespect to law abiding Nigerian members here but I know where you are coming from. There are a lot of stories about prince and princess from there lol.

Removing members for asking project and team transparency is definitely shady. I won't be surprised if they even accused you of spreading "FUD" in their group. Did they pull out the "Satoshi Nakamoto is anonymous" card?

[tbterryboy]

Unfortunately when something makes people money, all other people and specially scammers wants a piece of the pie and that is what happens with these naming stuff. When ICO first started there was a ton of same name stuff as well and everyone did it, when DeFi became big everyone changed their coin offering to include DeFi features so they could get a ton of money and when Y series got bigger, that only meant if you add that to your name and have some DeFi feature you would most certainly get funded, even if you are a scammer.

Do you know how many people are out there who do not read whitepapers before they invest? There are tons of people who just think someone else will read the whitepaper anyway and would come public if there is anything wrong and if there is nothing wrong that means it must be good.

[qomariah95]

The Y family to be more precise. Currently it is still increasing, which is doing a pre-sale, namely YFF (YFFarm). This is of course very confusing for investors, some are brave enough to invest and some don't. As long as you have the opportunity, then do it, but as @OP said. that you should be careful before entering and investing. DYOR

[kindbtc]

The situation is getting both a bit hilarious and suspicious at the same time because most projects with similar token tickers just want to capitalize on the success of yearn finance. Personally i will not invest in copy cat projects.

[triangles]

The Y Series trend is also a dangerous trend, many shillers trap people into investing in projects like this and unfortunately they shill on scam project and this is worrying considering there are many stories of people who get 50x to 100x profits in a very short time and the fear is people with  large capital are determined to buy in big quantities because they are tempted by the trend and the problem when they choose the wrong one will be a nightmare for these investors.

[militiariko]

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.

I think there is a time for everything, and for now there are several defi platforms out there taking opportunities of the hype around defi, introducing projects to one way or the other in order to pump and dump on investor, so it is a wake up call to every investor to conduct due dilligence before any prior investment in any token in the crypto space today.

WE are saw what happened to yam and other pump/dump tokens. Be watchful

[Baimovic]

If you can realize that the Y series coins in my opinion are a new type of fraud, considering that currently many Defi projects have sprung up and have attracted market investment. Of course there are concerns, especially if you invest your money in the Defi project and scammers use this method to trick their victims.

[optimisticcm]

This seems nothing but simply some people taking advantage of the scenario around defi projects and speculating it through the use of uniswap and similar platforms. I do not completely know how this all works but many projects have raised funds solely through uniswap only time will tell about their legitimacy.

[TimeTeller]

Y token series now occur in crypto market after yearn.finance price booming and even beat bitcoin price. start of this point many developers team trying to duplicate this token and they create another Y token.if we already join in this project and get alot profit , out quickly dont hold too long . its still risky many people doubt it could survive for long time.

Get out as soon as you can, don't be greedy as investigating the original project itself, they have nothing to offer yet.
So seems mere manipulation of the market without any basis at all.
And since scammers want to take advantage of what's going on in the DeFi market, expect you will see a lot more of these unfounded projects.

[kawetsriyanto]

Yes, the Y series trend became a hot trending topic lately. Honestly, I still don't understand what is the advantages of these projects. The only thing that can be seen is about the price of the Y tokens is growing fast and increasing very significantly. Not sure that people who buy the tokens really know the potential of the projects or just following Hypes. I also doubt if the Y series trends just take advantage of the improvement of the crypto market or the increase in Bitcoin value currently. Be careful that the price of Y tokens can be dumped severely anytime. Also, because Y projects became trends, scammers possibly take advantage of this situation.

[WalkerIVIV]

This time this trend goes so crazy. I have been regularly watching my telegram and then i have been seeing a bunch of new finance coin and that's crap. Those projects were offering farming yield and they have no real product. Some trusted people have already accused some of those coins caused by they have infinite supply.

Some projects have rugged the investor's money from the uniswap.

All of finance coins are not more than ponzi coins.

[hd49728]

Yes, the Y series trend became a hot trending topic lately. Honestly, I still don't understand what is the advantages of these projects. The only thing that can be seen is about the price of the Y tokens is growing fast and increasing very significantly. Not sure that people who buy the tokens really know the potential of the projects or just following Hypes. I also doubt if the Y series trends just take advantage of the improvement of the crypto market or the increase in Bitcoin value currently. Be careful that the price of Y tokens can be dumped severely anytime. Also, because Y projects became trends, scammers possibly take advantage of this situation.

Not only Y-series trend but also the DeFi-pretended projects trend. Besides the Y-series, you can see YAM and YAMv2, what the shitshow? The DeFi trend is more crazy than the ICO and IEO trends. It is my first time I see some few assets that break the all time high values of Ethereum in the crazy growth of crypto market in 2017 bull run. It is more crazy to think of the vague value those DeFi projects can bring to the world. More than 3 bitcoin to buy one YFI token and now the market even has some other Y-series tokens, YFII tries to hit the value of 1 btc of one YFII token.

After Uniswap, we see Uniswapv2, then Sushiswap, Justswap. Can you connect the dots and think of something?

Crazy and I won't touch them.

[michellee]

I guess the Y series trend is coming, and that makes many new Y projects will release. I think that token created for hit and run trading because the price is up and down with the unbelievable price many times in a day. That can give you a big chance to buy low and sell high, although that will need more funds to be available on your wallet because the fee to make a transaction will not low.

What I can not believe that to make one transaction, and we need to have $25-$50 as the gas fee. That means you need to prepare at least $100 to be used for the gas. If you want to trade on that token, you don't need to hold too long because if the price can surge to the high price, you need to sell it and take the profit. Thus, you can wait for another moment to buy at a low price.

[LouVandetta]

The Y series trend is getting on me. I was thinking of maybe trying one of them, but I suppressed my urge to buy one of them because I have the feelings that it's not a wise decision to follong a hype tokens. It's all because of this DeFi thingy, that when you see a DeFi projects and then you think that the projects will be good which is the source of the hype I think. Some even says that once it cools down the hype, there's a greater chance to see the downside of the prices.

[Kotone]

The Y family to be more precise. Currently it is still increasing, which is doing a pre-sale, namely YFF (YFFarm). This is of course very confusing for investors, some are brave enough to invest and some don't. As long as you have the opportunity, then do it, but as @OP said. that you should be careful before entering and investing. DYOR

All of these projects are yield based farming. I understand why so many people are getting hooked by these cause of the very high reward on farming. Yes this is the new style of mining that will let investors and traders earned profits by means of staking. Too many projects are all focusing on all kind of finance and yet the scheme is pretty working well.

[Mpamaegbu]

Who knows how long this will go for.

I'm sure if anyone knows when the bull run will end, that should make the person "all knowing". No one is all knowing. Like I have always maintained on this, we are all speculators in this industry. None can say for sure what happens next.

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.

Already, most the 'Y" pair prices have gone past what anyone can afford more than a token, except a fraction of it, especially YFI. Besides, only the inexperienced and greedy will be caught up in the run because buying now seems a huge risk. But come to think of it, isn't life a risk on its own?

[int03h]

I think that the investors are being FOMO before the Y-start projects. I noticed that most of these projects have an anonymous dev team and it confused me. Not every project with an anonymous developer team works well and has the potential to increase value because many imposters have copied the source code of these projects and impersonated to scam investors. In the past, there have been several fraudulent projects such as YBDAO, they are impersonating a branch of CBDAO. After raising investor funds on the Bounce platform they transferred the entire amount into Tornado Cash. They locked the telegram and disappeared.
PAYDAO just completed its ICO, they shut down their website and telegram channel.
These two projects do not publish the reputation of team dev. Be careful with DEFI projects.

[maxreish]

Usually, those hype doesn't last long. If you remember ICO projects before, they have been very famous too but got some failures afterwards. I can also see YI series projects like that. Today, they are making a big noise and investors are enjoying this opportunity to gain and to earn. But you have a point, there is possibly a bounce down and investors should be cautious on this part..
 
 Anything new in crypto world, can be a hype in a certain period of time. And also be a new door of oppotunity for scammers so let's take our actions be wary.