DeFi - The Scam Engine?

[xiboothrezi]

~snip
My advice would be to keep yourself too safe from investing in these coins and even if the project is too good whatsoever, please don't invest anything that you can't afford to lose. Remember that whenever someone makes a 100x, he makes almost 100 people lose their capital (according to my observation).

Very good advice and should be remembered by all.
After several defi projects have multiplied such as YFI etc, it has made many people greedy and want to get the same fortune. Many ignore the analysis because of a strong market trend, so they take the opportunity without knowing the basis is strong or not, FOMO. Even my friend who is just learning crypto wanted to invest in some Defi projects because he saw the market rise. I can only advise you that the risk is large, the increase is high and fast, that is precisely what is dangerous, if there is a definite deep decline.

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[alisonwonder]

First of all thank u for created such very important opinion & suggestion about DeFi projects. Many investors lost their all of funds for fake DeFi investment projects. YFI was big hype and it’s kinda a bubble i think. I see it’s all time high over 40k$ in price graphics but now it’s heavy downfall around 16k$ that's a big example how much lost a lot of investors.I agreed with you we shouldn’t invest big amount in random DeFi projects.   

YFI is a great example of greed for investors. He showed that you do not need to run headlong for profit. It's better to earn money safely. Also, this project has a lot of imitators, investors also bought these clones and as a result were left with nothing. It is very important to remember that only the earliest investors earn money in such projects, and even then not always.

well, YFI also has a very limited supply which ultimately makes its coins have a very expensive price because they have strong support too, so with YFI you can get a lot of profit just needing to take advantage of price movements.

[naska21]

In fact defi has already used by the scammers as a way to steal money from investors.

Besides 99.9% of newly born DeFi tokens are useless because they don't add any value to existing ones. Their only  purpose is to  pump liquidity across the  pools and collapse at a well-chosen moment to make their developers rich. The "cautious strategist" principle is the best one when playing on the field of Defi - better to win less than lose more while some projects are better not challenge at all.

In fact, useless is an understatement, they are beyond useless and the painful aspect is that many people falling for them all in the name of defi and making big profit, have you seen some of the defi project! they exude scam, it is written all over them and some people don't seem to care until they get rekt by this obvious scam only then they will shout and scream, too bad scammers have taken over the defi platform just like what happen during the ico period, despite all this fake defi's there few genuine and legit ones.

Yeah, here the proof of what you said. "Investor Loses 940 ETH ($360K) Overnight with YFI Founder’s Newest ‘Experiment". Amazingly, many investors kept buying that shit token despite the explicit warning  from developer. No sign of wisdom among them, looks like they were ticked by  jam-money, solely. It may be news to many of those  investors  that only miserable part of all existing DeFi projects is worth investing in  and before do it  they must evaluate  the relevant risk match it against other investments.

[Btra]

The Defi projects are may be a scam you had already seen in the recent past how these projects are making the investors billionaire. So, do not think more and over speculate on these Defi, just grab the opportunity and earn your benefit.

[LittleHamster]

First of all thank u for created such very important opinion & suggestion about DeFi projects. Many investors lost their all of funds for fake DeFi investment projects. YFI was big hype and it’s kinda a bubble i think. I see it’s all time high over 40k$ in price graphics but now it’s heavy downfall around 16k$ that's a big example how much lost a lot of investors.I agreed with you we shouldn’t invest big amount in random DeFi projects.   

YFI is a great example of greed for investors. He showed that you do not need to run headlong for profit. It's better to earn money safely. Also, this project has a lot of imitators, investors also bought these clones and as a result were left with nothing. It is very important to remember that only the earliest investors earn money in such projects, and even then not always.

well, YFI also has a very limited supply which ultimately makes its coins have a very expensive price because they have strong support too, so with YFI you can get a lot of profit just needing to take advantage of price movements.

I noticed what profit people got who bought YFI at the price of 20-40 thousand dollars. But for some reason, this profit is now with a minus sign. I would not value this token very much, no matter what the size of its offer.

[jostorres]

Well, I think you’re saying the truth here, but some people are not agree because they are all about making money at all cost. With that said, there are people who made money from the DeFi markets, and those are the early investors , they are always lucky , and the new investors are the ones that has to suffer.

I heard of Sushi's co-founder that took away $14 million which caused the market to drop, but he later came back and returned the $14 million, but he’s not back as a founder now, and his Twitter handle says – ex-cofounder or something of SushiSwap. Seriously, these DeFi projects are something else. But the thing is that people won’t stop feeding them, until eventually if they are truly scammers and they feel like they have gotten enough money, they will take down the websites and everything and disappear.

[bobyhodob]

The Defi projects are may be a scam you had already seen in the recent past how these projects are making the investors billionaire. So, do not think more and over speculate on these Defi, just grab the opportunity and earn your benefit.

indeed all projects have the potential and possibility to scam but as long as they haven't done that I think it doesn't hurt to try them and hope to benefit from DeFi by making good use of them.

[mdzahed134]

First of all thank u for created such very important opinion & suggestion about DeFi projects. Many investors lost their all of funds for fake DeFi investment projects. YFI was big hype and it’s kinda a bubble i think. I see it’s all time high over 40k$ in price graphics but now it’s heavy downfall around 16k$ that's a big example how much lost a lot of investors.I agreed with you we shouldn’t invest big amount in random DeFi projects.  

YFI is a great example of greed for investors. He showed that you do not need to run headlong for profit. It's better to earn money safely. Also, this project has a lot of imitators, investors also bought these clones and as a result were left with nothing. It is very important to remember that only the earliest investors earn money in such projects, and even then not always.

well, YFI also has a very limited supply which ultimately makes its coins have a very expensive price because they have strong support too, so with YFI you can get a lot of profit just needing to take advantage of price movements.

Yeah, mostly DeFi projects are looks gamble it's according to mostly projects market statistics, those price up & down was happening too shortly. So, i think this market movement is difficult to predict. Yearn.finance (YFI) first price was 32$ and i was shocked when i know that and ATH 43,872$, Undoubtedly here every early investors got big profit.  

[gunungkembar]

First of all thank u for created such very important opinion & suggestion about DeFi projects. Many investors lost their all of funds for fake DeFi investment projects. YFI was big hype and it’s kinda a bubble i think. I see it’s all time high over 40k$ in price graphics but now it’s heavy downfall around 16k$ that's a big example how much lost a lot of investors.I agreed with you we shouldn’t invest big amount in random DeFi projects.  

YFI is a great example of greed for investors. He showed that you do not need to run headlong for profit. It's better to earn money safely. Also, this project has a lot of imitators, investors also bought these clones and as a result were left with nothing. It is very important to remember that only the earliest investors earn money in such projects, and even then not always.

well, YFI also has a very limited supply which ultimately makes its coins have a very expensive price because they have strong support too, so with YFI you can get a lot of profit just needing to take advantage of price movements.

Yeah, mostly DeFi projects are looks gamble it's according to mostly projects market statistics, those price up & down was happening too shortly. So, i think this market movement is difficult to predict. Yearn.finance (YFI) first price was 32$ and i was shocked when i know that and ATH 43,872$, Undoubtedly here every early investors got big profit.  

indeed this is like a game by whales who try to lure new traders to enter and trap them there so that they cannot come out again and have to lose if they want to get out of the coin, therefore we all have to be careful with the coins we buy.