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Author Topic: BITCOINTALK FORUM NEEDS A DEFI SUB-BOARD  (Read 540 times)
zasad@
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December 23, 2020, 04:44:07 PM
 #41

If there are several fundamentally-sound, long-term-viable decentralized market making and lending systems, then I think that a DeFi section may actually be warranted, since this sort of thing could be important going forward. Maybe the section for this would go under Dev&Tech and be one of the more serious ones. Are there any actually-serious DeFi systems running? Separately, although I think that it's less valuable, there may be enough buzz around "yield farming" that a section could be warranted for discussing that, maybe under "Altcoin Discussion" and focusing on all strategies for making money via centralized and decentralized yields, discussion of the various risks, but not including announcement threads for specific tokens/services.
There are serious projects in the DEFI ecosystem that allow you to earn 6-10% per annum without risks
For example Compound and Aave.
You can use stablecoin (USDT and USDC or DAI) without risk.
The ecosystem will give you part of the profit and reward you with its tokens for use.

The only drawback of these systems is that commissions for depositing and withdrawing funds can be $ 40-60, and if you deposit $ 1000, then $ 40-60 out of $ 100 of profit will be spent on commissions.
I do not like credit projects and do not recommend investing in them, it is much easier to make money on Ethereum hodling. For example, I earned over 500% this year.
Pharming projects that offer 100-1000% profit per year need to be transferred to the HYIP section.
I hope you will make a section for defi projects, because there is very little discussion of serious defi projects due to low profits. Users tend to try to invest in highly profitable projects, which ultimately leads to a loss of funds.

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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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coinriches (OP)
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March 27, 2021, 05:25:04 AM
 #42

This thread was hot and heated back in DEC '20, I think t still deserve a look in.

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March 27, 2021, 05:35:22 AM
 #43

This thread was hot and heated back in DEC '20, I think t still deserve a look in.

There is no need to start this discussion again as majority of the people are not in favor of a separate defi board. If you get the defi board, then you will ask for the NFT board also and you will need boards for every development in the crypto space.

Just remember defi and NFT are all altcoins and already being covered in Altcoins section.  Smiley
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March 28, 2021, 05:49:48 AM
 #44

What is "DeFi" really? Bitcoin is the grandfather of all decentralized finance (as we know it). Between that and Ethereum, you don't really need anything else to take control of your own finances. You don't need to stake coins for high yields of other tokens while hoping other people jump into the game after you. That's not what "decentralized finance" actually means. What we're looking at here is a trend that will blow over when people lose interest in it, which is when they realize there's not actually anything behind it. Its basically the HPoS fad repackaged using smart contracts.

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