Is DeFi an aging, over-hyped mess or a great thing?

[DeFi-Ants]

Hi all, I've been reading here for a while and decided to join your busy place. What do you think about DeFi for the next several years. Will it fade away, like most ICO's, stabilize and get much easier to use, or continue with wildly volatile tokens and hot new projects that keep getting major hacks? I love the subject and think the short and sweet DeFi is a prefect name since the whole internet population is used to WiFi.

What do you think, are we looking at a passing fad, something that gets "re-branded or re-invented" after the hacks settle down, and/or is DeFi currently on a path to keep getting stronger?

[Streamz]

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To your question I'd say that DeFi will likely evolve, while some projects may fade, others will stabilize and simplify, making adoption easier. The company will continue to see innovation and growth, but security challenges will persist, prompting gradual improvement. As long as they're not relenting to innovations

Welcome once again!

[pooya87]

Unfortunately Decentralized Finance is one of those cool ideas that the shitcoin called ethereum has taken over and have already ruined it. So for now it is associated with creating completely useless shittokens and scamming people using the shitplatform known as ethereum!!!
I don't see anything changing as long as token creating platforms aren't being developed seriously in a truly decentralized way.

BTW this is not the first over-hyped mechanism they've used to revive ETH price though. They keep changing the name of the scamming method and continue their ways: ICO, IDO, IBO, IEO, ITO, STO, DeFi, NFT are the existing ones, each deader than the other.

[DVlog]

Hi all, I've been reading here for a while and decided to join your busy place. What do you think about DeFi for the next several years. Will it fade away, like most ICO's, stabilize and get much easier to use, or continue with wildly volatile tokens and hot new projects that keep getting major hacks? I love the subject and think the short and sweet DeFi is a prefect name since the whole internet population is used to WiFi.

What do you think, are we looking at a passing fad, something that gets "re-branded or re-invented" after the hacks settle down, and/or is DeFi currently on a path to keep getting stronger?

Comparing Defi with ICO is like comparing a high-speed train with a horse carriage. When one is getting more innovative day by day other one just fades away for not being so innovative. While having a bank account from opening till using it can take several days, your grandma can use a defi application without any hassle. You can do everything that a bank can do with less energy and time consumption, less fees. It's not like the use case has been shifted towards something more innovative.

After so many Defi hack, exploit, and rugg pull we are still here and people are using it. That means there are still so many uses in defi and people find it convenient for them to use it. It is not going to fade away at least if there isn't anything more secure and user-friendly than the current Defi application and services.

[icalical]

The first I know about DeFi, I honestly think it was revolutionary, but I know that we can only do so much with DeFi. Then it became overhyped, and then just like what happened to ICO, scammers use the jargon to prey on naive and fomo investors. I still think it was a great trend, it got its time and now it's over. Only the good DeFi project would still survive, and I think that's a good thing.

[Agbamoni]

Hello! You're welcome to Bitcointalk. I'm happy to hear you're reading but it's cool you acquaint yourself with the rule of the forum so that you'd get instructed correctly and perhaps grow better here too. Take a look at some of the do's and don'ts of the forum below:

Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ
https://bitcointalk.org/index.php?topic=703657.0

everything you need to know about forum rank, activities and merits.
https://bitcointalk.org/index.php?topic=2766177.0

posting etiquettes
https://bitcointalk.org/index.php?topic=5184741.0#post_altgiveaway

Beginners and Help Encyclopedia
https://bitcointalk.org/index.php?topic=5364418.0

You can learn to start being a long term investor or a short term investor, you can also be very active onbthe bitcoin trading discussion boards on bitcointalk, here are other helpful threads to learn about bitcoin investment

new to trading?
https://bitcointalk.org/index.php?topic=5446799.msg61999785#msg61999785

trading news and tracking
https://coinmarketcap.com/gainers-losers/
https://www.tradingview.com/crypto-screener/

I want to learn more about bitcoin like how to get it.
You can mine it, exchange it, or receive it as gift or a currency being paid with your reward for offering a service instead of being paid in fiat, wgich is by earning bitcoin.

You can use an exchange to get bitcoin using fiat and then create a personal wallet to store your bitcoin and keep the keys safe

bitcoin history
https://bitcointalk.org/index.php?topic=5438353.0

To your question I'd say that DeFi will likely evolve, while some projects may fade, others will stabilize and simplify, making adoption easier. The company will continue to see innovation and growth, but security challenges will persist, prompting gradual improvement. As long as they're not relenting to innovations

Welcome once again!

TBH buddy, i cant find anything you share helpful to what OP has shared.

[nelson4lov]

What do you think, are we looking at a passing fad, something that gets "re-branded or re-invented" after the hacks settle down, and/or is DeFi currently on a path to keep getting stronger?

We can't have decentralized money without halving decentralized financial products that go with. The current DeFi projects and ideas are not the best even the hacks don't make it look pretty but it has a future and I know the industry will get better with time.

You can't have Decentralized money if there are no financial products to use them on whether its lending or borrowing or doing some other stuff, DeFi makes crypto more interesting.

[libert19]

Right now, defi is overhyped and I think it'll get better with time. Ethereum needs to scale as well, alternative evm chains are just as useless, they pop-up on name of scaling ethereum meanwhile some load and themselves are overloaded and the rampant scams and hacks — I'm yet to feel safe while parking money in any defi protocol.

[avp2306]

Hi all, I've been reading here for a while and decided to join your busy place. What do you think about DeFi for the next several years. Will it fade away, like most ICO's, stabilize and get much easier to use, or continue with wildly volatile tokens and hot new projects that keep getting major hacks? I love the subject and think the short and sweet DeFi is a prefect name since the whole internet population is used to WiFi.

What do you think, are we looking at a passing fad, something that gets "re-branded or re-invented" after the hacks settle down, and/or is DeFi currently on a path to keep getting stronger?

DeFi's are good ideas but this is not well executed since the common thing we can see exist are those scams. So whatever how good the technology is but if the scamming is rampant due to greedy devs take advantage of the hype then all of it will became nothing since people might avoid if they notice that there's no good things they can get from investing since scamming is always happening just like the ICO's happened before.

[hd49728]

What do you think, are we looking at a passing fad, something that gets "re-branded or re-invented" after the hacks settle down, and/or is DeFi currently on a path to keep getting stronger?

DeFi is a mess because it has a model that promises you profit, APYs that are usually good in their White papers.

If you have good basic knowledge about finance, you will realize a hidden fact. They only can give you APYs if the balance between cash inflow and cash outflow, capital in and capital out of their DeFi platform is positive. When the balance is negative, APYs will vanish in the air.

With DeFi, you will have risk of impermanent loss as well.

[DeFi Tutorial] What is Impermanent Loss?

[AakZaki]

The emergence of DeFi projects provides a new space in the crypto ecosystem thereby arousing the enthusiasm of investors to enter crypto. We can see how DeFi is growing in the crypto ecosystem, a lot of new projects keep popping up, but also a lot of projects fail because they are unable to compete and because of some hacks that make a lot of losses.
The presence of DeFi in the crypto ecosystem increases the number of diverse new Protocols that provide a wide range of services, such as decentralized exchanges, lending and lending, yield farming and liquidity. DeFi has the potential to play an important role in global finance in the future.

[ImThour]

DeFi can be everything you mentioned. An over hyped mess also a great thing. With DeFi, we get to know the potential of web3. I am sure many of you won't agree with me but in future, DeFi is going to be the first priority of companies to launch their financial application on.

If you aren't aware, DeFi = Decentralized Finance.
And the apps which are run over DeFi are called dApps. Decentralized Applications.

[Hamza2424]

Hi all, I've been reading here for a while and decided to join your busy place. What do you think about DeFi for the next several years. Will it fade away, like most ICO's, stabilize and get much easier to use, or continue with wildly volatile tokens and hot new projects that keep getting major hacks? I love the subject and think the short and sweet DeFi is a prefect name since the whole internet population is used to WiFi.

What do you think, are we looking at a passing fad, something that gets "re-branded or re-invented" after the hacks settle down, and/or is DeFi currently on a path to keep getting stronger?

Op welcome to the Bitcoin Forum...

Coming to the point brother it is very strange to me that you are directly linking the DeFi with the so-called defi project and their shit coins, buddy I want to let you know that DeFi is known for its services, availability, and decentralization not by their utility tokens and shit schemes. Be careful while taking it into account, DeFi is in my view one of the best dimensions of the crypto space.

It is noting cover from anyone how helpful defi can be in any sort of situation, let's take an example of simple loan service, here from the bank if you want any sort of small loan as well, you need to do a lot of paper working not you have to provide the statement and blah blah other requirements.

[tabas]

Hi all, I've been reading here for a while and decided to join your busy place. What do you think about DeFi for the next several years. Will it fade away, like most ICO's, stabilize and get much easier to use, or continue with wildly volatile tokens and hot new projects that keep getting major hacks? I love the subject and think the short and sweet DeFi is a prefect name since the whole internet population is used to WiFi.

There's still little demand on it but if that demand fades then it's just good as how the ICOs were gone. We have the idea on how these hypes are becoming gone due to the fact that the market always need something new to make the investors keep on being active. While DeFi sounds as WiFi, I don't see any connection or relevance on it but only everyone is required to be connected to the internet for us to access them.

What do you think, are we looking at a passing fad, something that gets "re-branded or re-invented" after the hacks settle down, and/or is DeFi currently on a path to keep getting stronger?

You have the idea on what it is and that's the first thing that you've said.

[Eureka_07]

<snip>

The issue here lies with the poor projects, not the dApps themselves. These types of applications hold significant value in today's environment, particularly for individuals seeking enhanced privacy compared to traditional web/apps.
Remember that ICO is different from DeFi: ICOs function as token-based fundraising methods, while DeFi is a system built on blockchain and is just one of many systems that can be built using dApps.

[348Judah]

Hi all, I've been reading here for a while and decided to join your busy place.

Where is the busy place and who are the busy people in this regard? You're just a newbie in cryptocurrency maybe and i want to believe you're here to learn, then it's better you learn to use the write words in applying to any situation you come across, don't create a wrong impression through your carelessness in what you say, there's a way we could appear being polite and eager to learn and others will see that in us.

What do you think about DeFi for the next several years. Will it fade away, like most ICO's, stabilize and get much easier to use, or continue with wildly volatile tokens and hot new projects that keep getting major hacks?o keep getting stronger?

As this community is, the main objective is on bitcoin discussion, though we have an altcoins discussion board where this could be broadly discussed, but i want to assure you that defi has it own risk weighing than the advantage because decentralized finance is a broad aspect that has many applications and some are using it against others, but a decentralized network of bitcoin is more secured than any of centralized or decentralized finance network.

[Cookdata]

Hi all, I've been reading here for a while and decided to join your busy place. What do you think about DeFi for the next several years. Will it fade away, like most ICO's, stabilize and get much easier to use, or continue with wildly volatile tokens and hot new projects that keep getting major hacks? I love the subject and think the short and sweet DeFi is a prefect name since the whole internet population is used to WiFi.

What do you think, are we looking at a passing fad, something that gets "re-branded or re-invented" after the hacks settle down, and/or is DeFi currently on a path to keep getting stronger?

Defi is not a scam but to be honest, the hype was more than what ICO did back then. ICO was full of scam, we can't deny that but the effort some influencers used for people to think that Defi was the next thing after banks till today haven't convinced, traditional finance is a flop but the Defi hack hasn't proven otherwise, team pulling rugg and scam projects running off with people are not worth what Defi was supposed to be, it was just hype even though there people who still believe in it.

Another challenge I observed we have been fighting is liquidity and I'm wondering if we are going to continue like this, we have so many blockchains, more are coming soon in the new coming bull run and there are more that are still in the testing phase that will come by surprised, it has been a game of competition between developers and the investors are only after the profits running from one projects to another, will defi progress like this with this watch? I doubt this because progress and loyalty are what build a community but investors don't have that thinking, they are only after their profits and not the tech.

[Taskford]

Hi all, I've been reading here for a while and decided to join your busy place. What do you think about DeFi for the next several years. Will it fade away, like most ICO's, stabilize and get much easier to use, or continue with wildly volatile tokens and hot new projects that keep getting major hacks? I love the subject and think the short and sweet DeFi is a prefect name since the whole internet population is used to WiFi.

What do you think, are we looking at a passing fad, something that gets "re-branded or re-invented" after the hacks settle down, and/or is DeFi currently on a path to keep getting stronger?

Defi is not a scam but to be honest, the hype was more than what ICO did back then. ICO was full of scam, we can't deny that but the effort some influencers used for people to think that Defi was the next thing after banks till today haven't convinced, traditional finance is a flop but the Defi hack hasn't proven otherwise, team pulling rugg and scam projects running off with people are not worth what Defi was supposed to be, it was just hype even though there people who still believe in it.

The idea is not scam the idea of this technology is really great but the devs or project owner is the one killing this idea because they use this to make their scamming  plans successful. And this is why many investors got upset then think about that this is just the same with ICO's. If there are just DeFi project will step up turn out to became a legit one maybe people assumptions regarding on those rampant scamming may change.

[libert19]

And the apps which are run over DeFi are called dApps. Decentralized Applications.

dApps are called so because they run on decentralized blockchains, what we call DeFi is merely a term used to denote finance-related applications on decentralized blockchains, it has no real existence, you could call DeFi a subset in broader ecosystem of dApps.

[cryptoaddictchie]

What do you think, are we looking at a passing fad, something that gets "re-branded or re-invented" after the hacks settle down, and/or is DeFi currently on a path to keep getting stronger?

Defi wouldnt die since its become one of the foundation of altcoins. You may seem it dying but thats just because of the bear scenario. Different protocols have lost or been gone due significant factors like, lack of users, funds and even due to breach of some hackers and exploits of their codes. But there are bigger projects operates on defi and keeps building. Its just one way or another defi would definitely go back again with a bigger purpose I suppose.