20kevin20
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October 14, 2020, 03:51:27 PM |
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DeFi is a SCAM. It's driving me insane after all the scams we've seen in the cryptocurrency world and people still don't understand how to spot an obvious scam.
How and why did you come to this conclusion? The high returns only make it a hype, not automatically a scam. DeFi has just sparked a huge hype that doesn't make much sense, and it's the only reason it's going wrong. The fact that there are a shit ton of scammy DeFi tokens is a completely different thing.
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zasad@
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October 14, 2020, 04:26:23 PM |
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DeFi is a SCAM. It's driving me insane after all the scams we've seen in the cryptocurrency world and people still don't understand how to spot an obvious scam.
The only way I see this helping out bitcoin is the fact that's it's created a lot of buzz around crytpocurrency and a lot of idiots who don't know how to break down a crypto coin or token are buying in since it's returns have been so high of late. Again, people, THIS IS A SCAM. I would love for someone to try and refute that so I point out your ignorance and everyone else's. Sick of this crap.
Why DeFi Scam? Maker, Uniswap, Compound, Synthetix, Aave, Bancor, RenVM and other well-known projects are also scam? Over the past 11 years, Bitcoin has gone through many stages, we have seen a lot of hyips, financial pyramids, pumps and dumps, but no one calls Bitcoin a scam. The Maker project gave for the only honest and stable stablecoin (DAI) that cannot be blocked by the owners of the smart contract. Everyone associates Defi's ecosystem only with yield-farming projects, but have you tried reading about other projects?
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wack slacker
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October 14, 2020, 04:58:25 PM |
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I think DEFI brings money flow to the crypto market. Investors join DEFI and, after making a profit, they will continue to buy other cryptocurrencies. And Bitcoin is always the first choice, so bitcoin will increase in price. Currently, the DEFI projects are being withdrawn and bitcoin has been above $ 10,000 for a long enough time, about 3 months, a good price for growth higher.
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Ozero
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October 14, 2020, 05:11:48 PM |
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In any case, DeFi projects have revitalized the entire cryptocurrency market and this also has a positive effect on bitcoin and other cryptocurrencies. Bitcoin and ethereum are now slowly growing not only in price, but also in terms of capitalization. This means that DeFi projects do not divert investments to the detriment of bitcoin.
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mindrust
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October 14, 2020, 05:43:49 PM |
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DeFi is a SCAM. It's driving me insane after all the scams we've seen in the cryptocurrency world and people still don't understand how to spot an obvious scam.
The only way I see this helping out bitcoin is the fact that's it's created a lot of buzz around crytpocurrency and a lot of idiots who don't know how to break down a crypto coin or token are buying in since it's returns have been so high of late. Again, people, THIS IS A SCAM. I would love for someone to try and refute that so I point out your ignorance and everyone else's. Sick of this crap.
I can'r really make my mind about deFi so far. My view on deFi is a bit rusty. I read about UniSwap a lil bit. Here is how Binance describes UniSwap: Uniswap is a decentralized exchange protocol built on Ethereum. To be more precise, it is an automated liquidity protocol. There is no order book or any centralized party required to make trades. Uniswap allows users to trade without intermediaries, with a high degree of decentralization and censorship-resistance. So it is a DeX built on top of eth. And what we can trade is, tokens. I don't know why people making a big fuss about this like it is the next big thing. Yeah people can list their tokens on that platform without needing a permission but why would any serious company do that? Do people really think NYSE, S&P500, DOQ etc are going to move to ETH? That's delusional.
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mezzaluna
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October 14, 2020, 06:04:58 PM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fs3.amazonaws.com%2Fcdn.coingaming.io%2Fbitcasino%2Fimages%2FForum%2FIs-DeFi-benefiting-Bitcoin.jpg&t=665&c=jqNkw2yYSAtPSQ) Hi everybody, Bitcoin’s price has been hovering around the range of US$8,500 to US$10,000+. DeFi tokens, on the other hand, have surpassed Bitcoin massively. What’s interesting to note is that the more DeFi tokens gain upward momentum, the more Bitcoin could possibly be boosted when DeFi undergoes a correction. With the rise of DeFi, this brings us to ask: can Bitcoin be boosted by DeFi? Read on here: Is DeFi benefiting Bitcoin? and let us know your thoughts on this. Thanks, Karl Bitcasino.ioWell, its quite true that DeFi is setting a wonderful trend because of its value and might possibly be boosted by Bitcoin with further developments. Its will be truly benefiting for people who trusted on DeFi when it started and what more will happen if its also backed by Bitcoin.
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zasad@
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October 14, 2020, 09:04:07 PM |
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Do people really think NYSE, S&P500, DOQ etc are going to move to ETH?
That's delusional.
![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Ethereum will eat Wall Street's settlement layer https://bankless.substack.com/p/ethereum-will-eat-wall-streets-settlementSeriously, people do not understand all the opportunities that the Ethereum platform provides us. https://blog.chain.link/44-ways-to-enhance-your-smart-contract-with-chainlink/I don't think that you need to be a major global expert to understand that smart contracts and asset tokenization will be actively developing in the near future
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Twinkledoe
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October 14, 2020, 09:22:09 PM |
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Interesting what's gonna be happening in the next 5years? The rise of DeFi definitely give interest to some noncrypto users to take a look at crypto market. So for me, even if DeFi is considered to be the current hype, still it provides some positive effect on bitcoin. But hopefully, those investors will be smarter than what we had in ICO days. They should know better and spot fake DeFi projects.
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Shasha80
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October 14, 2020, 09:29:43 PM |
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Of course DeFi projects help raise the Bitcoin price indirectly, so I agree that DeFi does benefit Bitcoin. Because with the hype on DeFi projects, the cryptocurrency market became crowded. But not all DeFi projects are good and profitable, so don't be surprised that some people say that DeFi projects are scam. Therefore, always do your research before deciding to buy DeFi projects, so you can invest in well known projects. I myself invest in LEND, COMP, LINK and UNI.
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zasad@
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October 14, 2020, 09:32:58 PM Last edit: October 15, 2020, 05:40:19 AM by zasad@ |
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Interesting what's gonna be happening in the next 5years? The rise of DeFi definitely give interest to some noncrypto users to take a look at crypto market. So for me, even if DeFi is considered to be the current hype, still it provides some positive effect on bitcoin. But hopefully, those investors will be smarter than what we had in ICO days. They should know better and spot fake DeFi projects. I've written about this many times before. If someone wants to invest in DeFi, then look where large investment funds invest Andreessen Horowitz https://a16z.com/portfolio/Panteracapital https://www.panteracapital.com/portfolioAlphabit https://www.alphabit.fund/investments/What do you think, will companies that manage capital from $ 0.5 billion to invest in DeFi scam or yield-farming ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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verita1
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October 14, 2020, 10:56:45 PM |
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"Bitcoin is benefiting Defi" makes sense to me from all the valuable comments you have made. I have also read that the Defi are continuing the work that gave rise to Bitcoin. Let's take a look at how WBTC works and how it is providing greater liquidity in the ethereum ecosystem, decentralized exchanges and dapps. https://wbtc.networkAlthough I am excited about the DeFi revolution, I maintain the conviction that without Bitcoin they cannot coexist because they need to be capitalized.
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Adhar
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October 14, 2020, 11:02:19 PM |
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I think, any crypto related project that attracts more people befenits Bitcoin. Just like Bitcoin benefits the other crypto projects. That doesn't necessarily mean that DeFi is a good idea or a solid project.
you are right, every concept are benefits if they are crypto related. recently defi creat a great hype in crypto market & i think its a better for crypto world. for this hype market moving brightly.
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zasad@
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October 15, 2020, 07:37:33 AM |
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"Bitcoin is benefiting Defi" makes sense to me from all the valuable comments you have made. I have also read that the Defi are continuing the work that gave rise to Bitcoin. Let's take a look at how WBTC works and how it is providing greater liquidity in the ethereum ecosystem, decentralized exchanges and dapps. https://wbtc.networkAlthough I am excited about the DeFi revolution, I maintain the conviction that without Bitcoin they cannot coexist because they need to be capitalized. WBTC is not the only Wrapped service How many bitcoins are there in DeFi? https://bitcointalk.org/index.php?topic=5281639I see that Bitcoin is becoming a new global asset for accumulation, that is, it turns into digital gold. Lightning Network, Omni Layer, Liquid Network are not very popular with the community. The only opportunity for trade and decentralized exchange is provided to us by the DeFi ecosystem
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poclerk
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October 15, 2020, 08:04:37 AM |
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Bitcoin is the primary cryptocurrency and all new investors that will enter DeFi will surely buy first bitcoin before they start buying DeFi token that preferred. The majority of crypto user preferred Bitcoin as there main coin in there portfolio and most of the investors diversify there investment. If many new traders will surge to buy DeFi token, I'm pretty sure that they will buy BTC too to add on there portfolio.
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mindrust
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October 15, 2020, 08:18:53 AM Last edit: October 20, 2020, 01:42:09 PM by mindrust |
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What do you think, will companies that manage capital from $ 0.5 billion to invest in DeFi scam or yield-farming ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) That doesn't prove anything actually. So many big hedge funds went down to zero before. Just because they are big now doesn't mean they'll be big in the future or they always take the right steps. They could go bankrupt by choosing the wrong investment. Happened before many times. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fthistimeitisdifferent.com%2Fwp-content%2Fuploads%2F2018%2F12%2FLehman-Stock-Chart-1.png&t=665&c=e9_iJ2_W_3m6dQ) Source: This time it is different
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zasad@
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October 15, 2020, 09:18:56 AM |
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What do you think, will companies that manage capital from $ 0.5 billion to invest in DeFi scam or yield-farming ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) That doesn't prove anything actually. So many big hedge funds went down to zero before. Just because they are big know doesn't mean they'll be big in the future or they always take the right steps. They could go bankrupt by choosing the wrong investment. Happened before many times. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fthistimeitisdifferent.com%2Fwp-content%2Fuploads%2F2018%2F12%2FLehman-Stock-Chart-1.png&t=665&c=e9_iJ2_W_3m6dQ) Source: This time it is differentIn fact, this does not refute anything ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Hedge funds constantly monitor the market, diversify portfolios and have many opportunities that are not available to the average investor. Any financial investment is associated with risk, and all risks are written in the investment agreement. And if large hedge funds invest in DEFI projects, this tells us that DEFI projects meet high standards.
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LogitechMouse
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October 15, 2020, 09:44:55 AM |
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Correct me if I'm wrong but I don't see any ways that DeFi is benefiting Bitcoin at all. Maybe awareness to the crypto in general but to Bitcoin directly, I don't think that there is any. Only those developers and the team of the project are the ones who are benefiting in DeFi since they will just create a new project, name it into anything that they like then just put a description and that's it ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) .
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LordShanken
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October 15, 2020, 11:03:52 AM |
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Correct me if I'm wrong but I don't see any ways that DeFi is benefiting Bitcoin at all. Maybe awareness to the crypto in general but to Bitcoin directly, I don't think that there is any. Only those developers and the team of the project are the ones who are benefiting in DeFi since they will just create a new project, name it into anything that they like then just put a description and that's it ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) . I have the same opinion on this. When the DeFi bubble bursts, the same thing will happen as in early 2018 after the ICO bubble burst. Let's just hope it will have less impact and the crypto market will recover faster. I'm not saying that all DeFi projects have no future. There are many well-prepared projects in this market. Unfortunately, the majority will fail, which will make investors afraid to invest in cryptocurrencies again for many months.
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mindrust
Legendary
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Activity: 3360
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Payment Gateway Allows Recurring Payments
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October 15, 2020, 12:33:23 PM |
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In fact, this does not refute anything ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) It already did. Hedge funds constantly monitor the market, diversify portfolios and have many opportunities that are not available to the average investor. Any financial investment is associated with risk, and all risks are written in the investment agreement. And if large hedge funds invest in DEFI projects, this tells us that DEFI projects meet high standards.
How do you explain Lehmann's* bakruptcy? According to your logic, the impossible has happened. *You can replace Lehmann with any other big company that went down. It was just an example to show you how ridiculous your logic is.
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Dewi89
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October 15, 2020, 03:05:07 PM Merited by LFC_Bitcoin (1) |
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I do not know whether defi has provided benefits to bitcoin, but the increase in bitcoin occurred at the same time as the hype defi, there is no coincidence but everyone has a principle to judge it with their own eyes, at least the current hype defi is not bad for bitcoin.
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