I've been reading in to all these Smart contract token platforms and the so called SC Finance "revolution" and after every WP I read it's the same conclusion ..it's all smoke and mirrors, right now. I am amazed at how many are buying in to this nonsense , feels like Bitconnect all over again, just a bit harder to spot for most. I can't break down how a blockchain works or understand cryptography, but I can break down finance scams as that is what I've spent years of my life studying how to do. There's nothing cryptographically (probably not a real word) special about this stuff.
Smart Contracts have stalled out. They can only perform basic things that pc's have been able to do for many years. Ask Nick Szabo the creator of S.C's and arguably the most knowledgeable crypto expert..hes recently explained on podcasts that he has little to no faith in their advancement anytime soon. Here's an example of what legit SC finance looks like..but it's not possible, yet..
https://bitcointalk.org/index.php?topic=750.0 ..this kind of smart contract finance operation is truly a game changer, if it ever comes to fruition, that is.
DeFi, Celsius Network etc are all laughably unsustainable projects or unrealistic and not yet possible (just like how so much crap is being called Quantum computing or Artificial Intelligence when neither have even come to fruition..yet) My favorite one of these "finance tools" is being able to borrow money at a lower cost than what depositing that same money for the same time period will pay out, with the same exact company, which is essentially creating arbitrage. On top of this unsustainable nonsense ..why aren't people asking "So how are you making money off my deposits in order to "guarantee" (which is an SEC violation) such ridiculously high rates that no bank or finance company can do or ever has done??!!
People wake up. Besides Bitcoin/Monero, there's very few legit projects/coins/tokens going today in cryptoland. 99% of them are scams of some variety, period..and this smart contract finance bullshit will end the same way they all do. Don't forget, Bitconnect lasted a pretty long time too (relatively speaking).
