DeFi project beginning to sounds ridiculous

[ololajulo]

We should be reminded that ICO bubble was for over 2 years and made a lot of good projects and many scam. Some will realize after 6 more months to join the Defi hype before been left out totally. It has a alot of default but go after the money

[qomariah95]

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.

The situation is almost the same as the ICO era. And even IEOs aren't that attractive now, as most investors find the DeFi trend attractive. Not attractive because of the project, but the short profit they are looking for. Only with low supply and hot topics about DeFi. Then the DeFi Trend will continue until many investors lose a lot of money.

[btcltcdigger]

As with any thing (ITO, ICO, IEO and now DeFi) scammers are ready to take advantage of the hype.
Sad part is they're getting really good at it, and sometimes you have to tripple check everything to be sure it's legit.
And sure enough, more than 50% of DeFi projects now are scam or money grab.

[rk8814719]

DRK DEFI CHAIN Core  layer manage the agreement formed on the ledger and transition status.It include the most basic smart contracts allowing the creation of different entities and paymentrequirements.This layer is entirely free f charge to encourage usage and limit the development of other system. The only cost to be transmitted is for gas usage and the storage of information.

[crwth]

This is hotdog:

When I saw this picture, all I have in mind is this



Now you know what happens with these type of coins

[Anonylz]

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?

No bro, the Defi projects are more ridiculous than the ico bubble, at least during that time they were more sensible project name and concept than what we have in today's Defi trends, all you see this days is yam, sushi and probably egg soon enough, everyone just come up with crap and tag it as DeFi and expect people don't invest, and of course some people will always invest without thinking of the consequences.

[kotajikikox]

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 about the Hotdog project?you should tell us here what happen on this ,But checking what are those i found this

https://coinmarketcap.com/headlines/news/4000-to-1-in-5-minutes-defi-hotdog-and-pizza-present-free-fall-on-their-first-day/

Looks like these Whole Defi thing is a Scam?or there might be some that legit and not totally making BS for the investors though it is hard
to distinguish until it happens.

Let us just take 1 step forward against these scams,for our own safeties guys.

[erikoy]

Sad but project was only made to be implemented but after some hypes all will be ended. How can we expect to get a good name of cryptocurrency if all matter here is self interest about scammingm or money? Hence, it will be difficult to achieve and probably forum will be left too due to this scam activity. And if there will be another forum to cater and screen projects then that forum might be able to surpass bitcointalk. For now, no forum could stand against the bitcointalk because most of the forum now are mess with users violating rules and regulations.

[ololajulo]

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.

I still consider the scam claims on Defi to be early, I also feel the ICO comparison is still early, ICO raised so much fund that we have not seen such in cryptocurrency at the moment. Ethereum contribution to both start up process are similar but i think I consider Defi is to be improved with financial use case for cryptocurrency.

[rk8814719]

Draken is cheaper than current decentralized alternative with much less gas consumed.
Smart contracts are optimized for gas usage, balanced between anti-spamming and economic
feasibility.Anti-miner-spam: Miners have economic and reputation at stake to remain honest &
preserve the longevity of the network. The less slacking nodes there are, the stronger and
more sustainable the network becomes. Since reward in the form of cashback for miners is
equally divided among all miners, each miner is not incentivized to spam.

[Arkann]

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.

I still consider the scam claims on Defi to be early, I also feel the ICO comparison is still early, ICO raised so much fund that we have not seen such in cryptocurrency at the moment. Ethereum contribution to both start up process are similar but i think I consider Defi is to be improved with financial use case for cryptocurrency.

Today, many scammers are promoting their projects, while including the abbreviation DeFi in the description in order to attract as much attention as possible. But such projects actually have nothing to do with decentralized finance, and cryptocurrency users who are not used to analyzing available information very often lose their funds because of this. I also very often compare DeFi and ICO projects in the sense that sooner or later the scammers will seize the moment and at the peak of the popularity of DeFi projects they will run their business.

[isabella17]

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[rizkyalhabsy]

I think it's like a very different period, indeed a lot of saying defi is like a bubble I think that's true

[michellee]

I think the DeFi project is like a Hit and Run project, which we can make a lot of money in a short time, and we must get out of the market before it's ending. We can buy many DeFi tokens at the market, but we will need to sell once the price can jump to the high price. After that, we need to search for another DeFi project to buy, hold for a while, and sell it when it increases. It's happened to many DeFi projects. And it seems this will continue like that until the end of this year. Hopefully, we can use it to make as much money as possible to recover our losses before.

[Arkann]

I think the DeFi project is like a Hit and Run project, which we can make a lot of money in a short time, and we must get out of the market before it's ending. We can buy many DeFi tokens at the market, but we will need to sell once the price can jump to the high price. After that, we need to search for another DeFi project to buy, hold for a while, and sell it when it increases. It's happened to many DeFi projects. And it seems this will continue like that until the end of this year. Hopefully, we can use it to make as much money as possible to recover our losses before.

DeFi projects appear to be repeating the history of ICOs, as all investors buy DeFi tokens only to sell those coins when the price rises significantly. Based on this, it can be suggested that the prospects for most DeFi projects are very dubious, and only those that represent the final product will survive.

[imteaz]

Well, Doesn't matter who thinks what but the Defi market is very profitable if you are able to get in first and farm for 7 to 10 days and sale, you can make lots of money. Fortunately, I got into some Defi project early, did farm the coin, and sold on top. You just have to be smart and sell and get out and take profit. This is what Defi all about =)

[Jocuserious]

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.

It's like 2017 year when ico mark lot of hype where there is a widespread response to defi hype in an equal way. I probably know that 2017 year was ended with ico hype and later this year 2020 will end with defi hype. Every presentation will result in a scam where scammers will make a lot of money and new investors will lose money.

[peter0425]

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?

as what i was waiting from couple of months ago that these defi thing will surely bring 2 things,the positive and negative side.

while so much good things i have been read an continuously posted in this forum.

There are also too many claims of defi being scamming.

If you are not ready to risk your money,then go away from these project and instead bet in top 10 coins for your own safeties.

[michellee]

I think the DeFi project is like a Hit and Run project, which we can make a lot of money in a short time, and we must get out of the market before it's ending. We can buy many DeFi tokens at the market, but we will need to sell once the price can jump to the high price. After that, we need to search for another DeFi project to buy, hold for a while, and sell it when it increases. It's happened to many DeFi projects. And it seems this will continue like that until the end of this year. Hopefully, we can use it to make as much money as possible to recover our losses before.

DeFi projects appear to be repeating the history of ICOs, as all investors buy DeFi tokens only to sell those coins when the price rises significantly. Based on this, it can be suggested that the prospects for most DeFi projects are very dubious, and only those that represent the final product will survive.

That will be no problem if the DeFi projects is like the ICO. The investor will be like to buy the tokens in the beginning, hold it until the token enter the market, and sell it at the high price. It will happen like that, and I think we will see that in the future, but with the new name of the trend. I think many people are doubt the DeFi project, but they can not hold themselves not to join with the trend. And as what we already saw, many investor make a lot of money from the DeFi, and these situations is almost the same as when the ICO trends appear.

[Bitstar_coin]

People should stop generalizing and consider all defi project as bad, among the defi project of this recent times there are a few good ones, in short, defi is not the problem but the dev team taking the advantage of the defi trend, but despite all this negativity surrounding the defi project there are still handful of it that are good and genuine, so i don't think it is right to generalize and conclude that the whole defi ecosystem is bad just because of the bad ones among them.