DeFiOrg accelerator influence on bitcoin

[hugeblack]

Binance and blockchain Orbs announced they are collaborating together to launch an accelerator focused on research and development in decentralized finance (DeFi).
There will be grants of "tens of thousands of dollars" that will be awarded to successful projects according to their needs. There will be no equity investments.

Source ---> https://news.todayq.com/news/bitcoin-recovery-to-orbs-blockchain-launching-a-defi-accelerator/

As we all know, (DeFi) is one of the aspects of liquidity that made bitcoin price jump from 15000 dollar to 30000 dollar easily and fast.
Do you think that this news has a good effect on Bitcoin in general and the price in particular?


other good news:

 - Grayscale has resumed accepting new investments

[Charles-Tim]

Do you think that this news has a good effect on Bitcoin in general and the price in particular?

DeFi itself is having no effect on bitcoin adoption and marketcap increase in my opinion, it is bitcoin that is helping ether and any bitcoin related DeFi projects, increase in marketcap will directly also have effect on ether in which its marketcap and price will increase. People that supposed to buy Bitcoin directly instead because of bitcoin related DeFi active income bought such DeFi coins like wrapped Bitcoin and the likes, but I believe this are funds that supposed to have gone into bitcoin buying directly. Ethereum is just using such means to increase its marketcap, Bitcoin is not dependent on any projects, but projects depending on bitcoin. If bitcoin is getting more adoption, not because of any altcoin or altcoin projects, but altcoin projects like DeFi, including ether itself has increased in adoption because of bitcoin in DeFi projects.

- Grayscale has resumed accepting new investments

I believe this can help people to know about grayscale products and services.
https://cointelegraph.com/news/grayscale-reopens-crypto-trusts-for-investment-as-bitcoin-price-climbs/amp


For latest information about Grayscale on this forum, by fillippone.
https://bitcointalk.org/index.php?topic=5256529

[Lucius]

As we all know, (DeFi) is one of the aspects of liquidity that made bitcoin price jump from 15000 dollar to 30000 dollar easily and fast.
Do you think that this news has a good effect on Bitcoin in general and the price in particular?

I would not agree with the above, because what does DeFi have to do with companies like MicroStrategy or PayPal that have decided to invest in Bitcoin, not to mention all the others that follow their example? The price has risen because they are all investing in the belief that they will insure themselves against the risks that are mainly associated with the weakening of the US dollar.

Charles-Tim described it nicely, and everything that happens with DeFi is thanks to BTC, not the other way around. We see this best when the price of BTC starts to fall, mostly all followers go red, and then they need a lot more time to get back on track. I don't like to mention altcoins where they don't belong  - but last 7 days BTC up 0.74% - ETH down 7.20%.

[hatshepsut93]

As we all know, (DeFi) is one of the aspects of liquidity that made bitcoin price jump from 15000 dollar to 30000 dollar easily and fast.
Do you think that this news has a good effect on Bitcoin in general and the price in particular?

DeFi is a drop in the ocean compared to Bitcoin, its volume is simply insignificant compared to the volume of centralized exchange, to the point where it's simply not worth talking about DeFi's influence on Bitcoin's price - it's just unmeasurably small.

DeFi can only boost Ethereum's price, because it's the platform for most DeFis, but even then the project needs to be really-really big to do that.

[tranthidung]

As we all know, (DeFi) is one of the aspects of liquidity that made bitcoin price jump from 15000 dollar to 30000 dollar easily and fast.

I don't catch your opinion. Bitcoin is not related to DeFi hype and DeFi tokens are created on ERC20 chain. They are parasiting on the Ethereum blockchain. Bitcoin is one of two biggest assets locked in DeFi, together with Ethereum according to ^[1]

I think differently. The DeFi hype in August or September of 2020 is to help big men collect as much bitcoin as they can from DeFi tokens. From this perspective, I was not suprised to see bitcoin reached its all time high at almost $42,000. The all time high of bitcoin is lower than all time high of YFI at $43966 on Binance.

Capital flow changes from DeFi to bitcoin and help bitcoin set up many new records. It is the big contributions from DeFi tokens to bitcoin price but nothing more.

Do you think that this news has a good effect on Bitcoin in general and the price in particular?

It is helpful in terms of creating another wave of over-optimistic and catching new flows of capital from newbies.  

^[1] https://defipulse.com/

[stompix]

As we all know, (DeFi) is one of the aspects of liquidity that made bitcoin price jump from 15000 dollar to 30000 dollar easily and fast.

From the posts above it seems like you're the only one that knows this. 
And you can add me to the list of people who think that DeFi has zero, zero influence on the price.
You mentioned liquidity, how would liquidity on Defi markets have been able to influence the price in fiat terms on these levels?

Sorry but no, I'm in the non-believers camp it was centralized services like PayPal and Grayscale that triggered this, people rushing their money to centralized exchanges or platforms, the Defi craze is just riding on the Bitcoin FOMO, nothing else.

DeFi can only boost Ethereum's price, because it's the platform for most DeFis, but even then the project needs to be really-really big to do that.

It "could", not that it did since with all the hype around Defi Ethereum didn't budge a millimeter compared to the boost it got from the hype that BTC creat for all the coins.

Do you think that this news has a good effect on Bitcoin in general and the price in particular?

I doubt that right now any news that is not tied politically to one of the major players, like the stuff that happened to XMR or XRP can influence the price anymore,  probably only if one really big player either enters the market, Amazon-style or somebody gets hammered by the SEC.

[The Sceptical Chymist]

As we all know, (DeFi) is one of the aspects of liquidity that made bitcoin price jump from 15000 dollar to 30000 dollar easily and fast.

I'm not so sure we all know that--or perhaps I should just speak for myself.  I didn't think DeFi had anything to do with bitcoin's meteoric rise, nor did I see any mention of DeFi in any of the discussions I read about that rapid increase.  Most opinions I read (and I agree with this) were linking recent purchases by a handful of big institutional buyers like MicroStrategy and others to the price increase.  That makes a lot more sense to me, because tons of buying usually leads to a higher price.

Charles-Tim described it nicely, and everything that happens with DeFi is thanks to BTC, not the other way around. We see this best when the price of BTC starts to fall, mostly all followers go red, and then they need a lot more time to get back on track.

That sounds about right--and I honestly don't even fully understand what DeFi is all about other than offering brave investors a chance to make astounding returns.  I have yet to hear how it's going to solve a real-world problem, and I've got my doubts about the whole thing.  Maybe I just got too jaded after all those useless ICOs went bust.