Overall losses caused by DeFi exploits have totaled $12 billion so far in 2021, according to a report from xxx.
Fraud and theft accounted for $10.5 billion of that sum — a sevenfold increase from last year.
DeFi, or decentralized finance, products aim to replicate traditional financial services using blockchain.
Also, share the source of the article, I would like to read it. The article really said according to a report from xxx?Are you so blinded by your persistent repetition (and even posting links) of something that has nothing to do with Bitcoin that you don't see that the link to the content is above the part I quoted? I have intentionally removed the name of the company that did the analysis because I don't want to promote anyone.
If someone wants to buy an NFT because he thinks it is beautiful for him and also speculates that there will be more value to sell it in the future and in a market that says what the fair market value is presently, do you not think that this is very much similar to bitcoin or any market?
You live in the belief that NTF and Bitcoin are something similar, but I will never accept that someone equates these two technologies and puts them in the same category. Bitcoin is primarily a decentralized crypto currency based on POW and has its own application as such, and the fact that you think that someone invests in something because it is beautiful has nothing to do with Bitcoin.
Are you familiar with the tweet that Jack Dorsey sold for $2.9 million as NTF, and today its price is 99% lower?
In December 2020, Jack Dorsey created a non-fungible token (NFT) out of his first-ever Twitter post. He turned a static image of a five-word tweet into a digital file stored on a blockchain, and voila, an NFT was born. A few months later, the image sold for a stunning $2.9 million. Yet in an auction this past week, no one bid more than $280 for it. And even current bids on OpenSea only amount to about $10,000, a 99% drop in value.
I did not notice the quote has the source hehe.
Elliptic? Why would you be afraid to mention it and be told that you are promoting it if you mentioned it? Is Elliptic a bad service or good service? It is not bad, I reckon. I am only curious why you did not like to mention it hehehe.
Did I say that I considerered bitcoin and NFT as similar technologies? I did not say it. I only said that there are similarities in their markets because they are based on supply and demand like all of markets. They get their value from speculative value. Nothing wrong with this.
Yes, I know that NFT. Does it make all NFTs and Defi protocols that make it easier to swap NFTs considered also scams? If dogecoin dumped 99%, does it make all of the cryptospace a scam?
Also, what is your defininition of a scam? Michael Saylor talked in a video when bitcoin was more than $50k. He said that we should mortgage our homes and buy bitcoin. If many people listened, they would presently be paying interest rates and their investments would be down more than 50%. Does this make Michael Saylor a scammer? My answer is no, however, this is only my opinion.
