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Author Topic: Is DeFi benefiting Bitcoin?  (Read 789 times)
LogitechMouse
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October 15, 2020, 09:44:55 AM
 #61

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.

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October 15, 2020, 11:03:52 AM
 #62

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.

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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October 15, 2020, 12:33:23 PM
 #63

In fact, this does not refute anything Smiley

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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October 15, 2020, 03:05:07 PM
Merited by LFC_Bitcoin (1)
 #64

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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October 15, 2020, 03:24:45 PM
Merited by LFC_Bitcoin (1)
 #65

I don't think Defi has much effect on Bitcoin because bitcoin will continue to run. The ups and downs of bitcoin prices are influenced by investors who want to invest in bitcoin. if the price of bitcoin increases then don't mention that Defi helps because there are still many Altcoins that affect the price of Bitcoin.

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October 15, 2020, 03:59:24 PM
Merited by LFC_Bitcoin (1)
 #66

Bitcoin is the most popular crypto currency and most of the altcoins  projects or defi projects token are exchanged with bitcoin.So the volume of bitcoin trading is increasing  and it is  benifiting bitcoin.So of course defi projects now attracting more and more people it is helping bitcoin to grow more.

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October 16, 2020, 01:35:14 AM
 #67

I think one way it’ll definitely benefit bitcoin is that just like the ICO season just before the last big bull run, lots of the profits were pumped into bitcoin. Maybe that’ll happen here again, that’s my only (selfish) interest in DeFi tbh.

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October 16, 2020, 06:25:01 AM
 #68

Any new trned which benefits crypto currency or uses blockchain as it's fundamental definitely benefits Bitcoin as it pulls more crowd into the Bitcoin investment game.
As more money gets poured in people get to know about Bitcoin more.

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October 16, 2020, 06:38:50 AM
 #69

I think one way it’ll definitely benefit bitcoin is that just like the ICO season just before the last big bull run, lots of the profits were pumped into bitcoin. Maybe that’ll happen here again, that’s my only (selfish) interest in DeFi tbh.

For those who have been in the world of cryptocurrencies for several years, the situation related to DeFi is a great opportunity to earn money - just like in the ICO bubble.
In the long run, the fact that DeFi attracts new enthusiasts will surely be beneficial for Bitcoin. However, in my opinion, education should attract attention to cryptocurrencies, not greed. Unfortunately, many new people who will invest in DeFi now, will just lose their money first and then start their education.

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October 16, 2020, 07:04:14 AM
 #70

defi has no effect on bitcoin, bitcoin has been around long before defi existed and bitcoin is still a good way, bitcoin stands alone without depending on other people, including defi. but defi is pretty good and at least defi is not bad for bitcoin.

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October 16, 2020, 07:08:03 AM
Last edit: October 16, 2020, 07:35:10 AM by shoreno
 #71

 not all defi tokens surpassed btc but there is only one defi token that i know that surpassed btc by price  . it didnt surpass btc massively but to be able to do that , he must beat the other stats and achievements that btc did   . your asking i defi can boost btc but you already answered your own question within your post because you said defi tokens boosted btc price but that is only what you think while we also have our own thoughts and for me i dont think there is a solid relation between defi and btc values  . i dont want to say bad comments  but defi maybe the reason for the downfall of btc and the crypto market because many defi has a failed and scam projects and this prolly give bad insights to the noobs and non open minded individuals .

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October 16, 2020, 08:08:23 AM
 #72

In fact, this does not refute anything Smiley

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.
My experience taught me 1 important rule: "The logic in the cryptocurrency markets works very poorly"

Even if you consider your logic, many banks in the world have gone bankrupt, but people continue to increase the volume of deposits in banks. Where is the logic here?

I have already said the most important plus of the DEFI ecosystem: you can trade Bitcoin in a decentralized manner. Other services like atomic swaps won't give you that much liquidity.





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October 16, 2020, 08:43:15 AM
 #73

not sure that the current bitcoin price is being pushed due to the many DeFi projects, I am more sure the bitcoin price is being pushed due to the previous halving, there is nothing interesting about the DeFI system even it is not profitable in my opinion either, so even though DeFi is abandoned by many users bitcoin will remain continue to go to the next rally

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October 16, 2020, 09:44:39 AM
 #74

As much as I support the idea of decentralized crypto, I don't really think there's a direct correlation between DeFi booming and Bitcoin price moving. Although, I'm pretty sure that if you look for the connection on purpose, you'll finds clear signs that DeFi benefits Bitcoin Wink
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October 17, 2020, 02:18:12 PM
 #75

DeFi sounds like a sophisticated brother of ICOs (a way to drain money from investors and then perform an exit scam). The ICO craze is long gone, and pretty much everyone who is familiar with the crypto market knows how risky it is to put money in one. DeFi, however, is still something that's only gaining popularity, even though some shady things already occurred with them. DeFi sounds like something very interesting and a natural step forward after Bitcoin with its decentralization, but I wouldn't risk investing in one.
As for whether Bitcoin price can go up because of these projects, I think it can. After all, it went up a lot at the golden age of ICOs. But Ethereum will probably get more from this than Bitcoin.

By the way, I liked the article, but I think it has a mistake:
Quote
Recently, Cointelegraph reported that more than US$1 in Bitcoins (BTC), almost 100,000 BTC, has now been tokenized for DeFi on the Ethereum network.

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October 17, 2020, 03:16:07 PM
 #76

As some of the defi ecosystem rotates around the Ethereum network, a number of people are grasping these defi applications so as to earn more bitcoin.
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October 17, 2020, 07:13:36 PM
 #77

DeFi is a tiny drop in the ocean compared to Bitcoin. And I don't care what is DeFi's marketcap, it's just a bubble and vaporware, it will disappear just like ICO did, while Bitcoin is here to stay. If Bitcoin didn't have bull runs, there would be no DeFi and altcoins, because no one would care about cryptocurrency. Altcoins and tokens only trade at current level because investors hope that they can repeat Bitcoin's movement, so it's not a coincidence that alts rise when Bitcoin goes up.

If you believe that DeFi or anything else from alt sphere can influence Bitcoin, you just have no idea about crypto.

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October 17, 2020, 08:58:20 PM
 #78

DeFi is a tiny drop in the ocean compared to Bitcoin. And I don't care what is DeFi's marketcap, it's just a bubble and vaporware, it will disappear just like ICO did, while Bitcoin is here to stay. If Bitcoin didn't have bull runs, there would be no DeFi and altcoins, because no one would care about cryptocurrency. Altcoins and tokens only trade at current level because investors hope that they can repeat Bitcoin's movement, so it's not a coincidence that alts rise when Bitcoin goes up.

If you believe that DeFi or anything else from alt sphere can influence Bitcoin, you just have no idea about crypto.
The defi ecosystem greatly expands the capabilities of bitcoin. A smart contract cannot be hacked, it does not obey the decisions of the courts, the SEC and other governmental and non-governmental organizations.
I don't understand what you think that DEFI is a bubble and a vaporware?
The future belongs to large cross-chain platforms like Polkadot and ecosystems like Ethereum.
You may simply not invest in scam projects that promise 1-10% profit per day.






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October 17, 2020, 11:17:13 PM
 #79

The defi ecosystem greatly expands the capabilities of bitcoin. A smart contract cannot be hacked, it does not obey the decisions of the courts, the SEC and other governmental and non-governmental organizations.
I don't understand what you think that DEFI is a bubble and a vaporware?
The future belongs to large cross-chain platforms like Polkadot and ecosystems like Ethereum.
You may simply not invest in scam projects that promise 1-10% profit per day.

Smart contracts get hacked all the time, smart contract is just a program, and programs have bugs. Lots of DeFis were hacked this year, which lead to loses among their investors, as expected. Also it's not an entirely good thing that DeFi supposedly can't be regulated by anyone, because it just means that this field will be full of ponzi schemes and scams, and newbies will never be able to avoid them.

You may simply not invest in scam projects that promise 1-10% profit per day.

It's like saying "homeless people should just buy a house, problem solved".

The future belongs to large cross-chain platforms like Polkadot and ecosystems like Ethereum.

People like to say "good project, to the moon", but so far none of them are actually creating anything useful that could be widely adopted. DeFi will not replace traditional finance, almost no one is actually interested in that.

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October 17, 2020, 11:22:59 PM
 #80

All projects that involve with bitcoin like pairing other crypto could benefit bitcoin.

Yet, without bitcoin the altcoins may no have value. You see everything is connected to bitcoin and this give benefit both the crypto and bitcoin. The benefits is mutual for again bitcoin giving value to that coin and then the coin tha will be paired to bitcoin could benefit bitcoin also in the market.

This us the greater number of coins listed in coinmarketcap.com the better market of bitcoin it will be most likely altcoins should not be trusted long hold and for that investors will going to sell their altcoins or trade to bitcoin.

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