DeFi project beginning to sounds ridiculous

[SomeJasonGuy]

With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?

[bct_ail]

This is hotdog:


Source

Not hot anymore, isn't it?

Why do you think this is happening?

Its all FOMO. Like you have already said. The Defi craze is like the ICO hype back in 2017. People sees the green candles, daily gains of +100% and more and don't want to miss this race. BUt at this moment, it seems the race is over and we can move to serious projects.

[pealr12]

I guess defi projects will be same as the ico projects before, after a year of conquering the market they will slowly get out. Lots of defi projects is being added on cmc day by day but in the end they will leave.

[jerrison]

With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?

I have considered DeFi to be a solution to the banking challenges we have long eexperienced in the banking space and all of its solutions existing on a trustless system gives even more confidence, Hence, the DeFi space is a necessity that must not be overlooked but at the hype the industry currently has on DeFi and also the pumps and dumps ongoing, I am forced to say, not everyone truely understands the DeFi solution approach. People should revisit the DeFi idea in order not to send a wrong message to the world.

[lotus23]

I think defi concept is picking up for the time being but whenever any concept is going on then sneaks some bad players and then all goes wrong.

[Reatim]

With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?

At least Now Community is asking and talking about how this is happening and what will be the future since something really in question about these projects.

Look at the Graph of Hotdog Coin is that normal ?Jumping High and suddenly falling down so deep?

Maybe some experts may enlighten everyone what this Defi projects really is and what will happen soon.

many speculative says this is likely to happen what ICo did in 2017-18 and others says this is legit,so what is the real score?

[fourpiece]

This is hotdog:


Source

Not hot anymore, isn't it?

Why do you think this is happening?

Its all FOMO. Like you have already said. The Defi craze is like the ICO hype back in 2017. People sees the green candles, daily gains of +100% and more and don't want to miss this race. BUt at this moment, it seems the race is over and we can move to serious projects.

The chart looks like a hotdog though.
Be careful investing into defi projects, 3 days of pump then starting to die.

[ChiBitCTy]

I knew this was a scam, as I was informed about it form people who know what they're talking about.  I decided to dig in to all this however so I could learn and see for myself and as an investment advisor I have to stay up to date with any financial product release. 

DeFi is a hot pile of shit, if you think any different you're misguided. I first dug in to "Voluto", which is a "high yield" savings account. Per their website "Voluto is a savings account alternative that allows you to earn a high-interest return on your digital cash. While traditional banks pay only around 0.05% interest on average, a Voluto account can earn you up to 6%. There is no middleman, nor any fees involved and you can withdraw your funds with all your earned interest anytime".

If this was economically feasible, traditional banks would have already been doing this.  Right now the best interest % one can earn in savings account is around .9%.  Voluto claims you can earn up to 6% lol.  Sure, in the beginning.  The funny thing is this has caused an arbitrage..as people are both funding their accounts as well as taking loans, which is netting them a guaranteed profit, or at least until it all blows up.  What happens when loans wildly outweigh deposits? Sure as hell not any iFDIC insurance either. This is not a sustainable model.

DeFi is filled with plenty of legit financial product concepts...however there is no substance to many of them.  For example Insurance products.  Insurance is a very basic concept, people pool their money together and when someone has a triggering event, insurance pays out ( examples-life, auto, business etc).  When buying insurance you look at to main aspects, the insurance providers ratings, and the cost of insurance.  These insurance products they are dreaming up will not get significant funding to be sustainable or affordable.

Then there's your usual shitcoin options, decentralized exchange proposals, analytical tools etc.

Lastly, much of this is based on hopes and dreams that will stem from smart contracts.  Nick Szabo, the creator of smart contracts, and probably the most brilliant mind in cryptocurrency has recently stated he believes that Smart Contract progression has stalled, and is unlikely to change anytime soon.  Smart Contracts in theory are amazing, but we are not there yet for these to do much more than basic operations software can already achieve.

My opinion is DeFi is a few scams layered with all sorts of other crap that's useless, non-existent, or already been created and perfected.

[Dime miner07]

This is hotdog:

https://i.postimg.cc/qqN8GJpF/screenshot-321.png
Source

Not hot anymore, isn't it?

Why do you think this is happening?

Its all FOMO. Like you have already said. The Defi craze is like the ICO hype back in 2017. People sees the green candles, daily gains of +100% and more and don't want to miss this race. BUt at this moment, it seems the race is over and we can move to serious projects.

Defi is good. But this kind of project, makes a bad reputation to cryptocurrency as a whole.

[Akiko]

With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?

what are you expecting ? As long as the project is asking for investment whatever good they promise they are they will failed soon and investors will lost investing in it. They are just using a new ideas to grab new investors that willing to take the risk but if you will look at it carefully its almost the same as what ICO we have before they are just changing the ideas and name of the project they want to offer but its almost the same.

[Krislaw]

Defi are surely pump and dump and being manipulated easily, and the top holders are surely manipulating the price and suddenly dumps their holdings, take SUSHI for example after the sudden pump the whale also suddenly dump his holdings on Uniswap and drastically affects the price for almost over 99% also check YAM, you can actually see the scheme of those coin.

[naureen978]

In my view, defi team / project tried to promote their project as well people saw the project is growing very fast like hype and fomo they buy it and when the project owner and team reached their targets. So may defi project are scam they just steal innocent people money you can see the market now specially defi is on earth now and people should invest in real project they gave us slow income but we have no fear to loss all our funds.

[Flangler]

In my opinion, it is even worse because it affects ETH defi will kill current bull run.

[kensaii]

I can see many crypto users don't trust or buy the hype surround the defi project but they still invest in it mostly for short gains because of FOMO. This put the defi craze very similar to ICO craze back then. No doubt we're in the bubble market with defi is a part of the problem. Maybe a similar fate will soon happen to defi project like it was for ICO.

[Flangler]

With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?

HEH, I just found out that you are promoting defi project in your signature The provider of this signature may not reward you for such posts.

[Ridwan Fauzi]

Even I can't see the on coinmarketcap, that's something weird.

DeFi project is suitable for short term investment, you may lose your money if you try for long term investment.

You have to remember as well what has happened to an IEO event, at that time I highly believe that this event will run for long time because they use an exchange to launch the project. Moreover with DeFi event, there is a bad that has been raisen, ETH fee transaction is getting high and it will give a bad effect for the coin.

[blue Snow]

Defi is good. But this kind of project, makes a bad reputation to cryptocurrency as a whole.

you will learn how people get profit by fame, don't go into the lizard hole either.

they still invest in it mostly for short gains because of FOMO.

I am in also, bought some and sold it fast for a little profit. On this current market, trader shouldn't greedy to avoid lost.

[rdbase]

This is hotdog:
Source

Not hot anymore, isn't it?

Why do you think this is happening?

Its all FOMO. Like you have already said. The Defi craze is like the ICO hype back in 2017. People sees the green candles, daily gains of +100% and more and don't want to miss this race. BUt at this moment, it seems the race is over and we can move to serious projects.

When I look at all defi charts they all look like a hotdog to be honest.

They are hot at first then they just fizzle and die eventually with no real sustainable evidence to make sense what is to back it.
This has been proven time and time again with one coming out every couple of days.
It is like a game to the developers at this point but they don't care that people are playing with real money in their pet projects.

[gazilla]

I am not going to lie the only defi coin that I have purchased ever since this defi frenzy started is SWIPE, and I would not have if it had jot been aqcuired by Binance. The bubble is goi g to blow and it is going to be messy.

[btc78]

With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?

I dont know why people like these are creating this kind of project and the sudden is there are stupid people that supporting this?

The Name itself is a proof that the project is going nothing,Imagine HOTDOG? what does this represent?

This is a Joke lol and not be tolerated and bought.

Already many defi projects have sunk to the bottom of which there will be no way to return. when the hype is over there will always be deep pain. only serious projects survive in this fluctuating market.

as what we all not Defi Supporter thinks that this will happen starting now.