After Sushi Dump CZ reply with Highly risk especially on Defi project ?? Agree ?

lumierre

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Quote from: ?? on ??

Quote from: retalids on December 15, 2020, 03:22:52 PM

yes u r right, before any investing in defi, you should check everything about project founders, financial model, tech background etc...

agree with you, and i personally try to invest in defi - dex projects. as for me, have a nice future, because decentralized exchanges make a great hype and growing in volumes

Defi — over the past year, it has proved to be the most interesting industry in the crypto market. Investments amount to more than $ 13 billion. But working with DeFi continues to raise a lot of questions. What are the risks of those who want to invest? With the loss of invested funds, cyber attacks and fraud have not been canceled.

retalids

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Quote from: ?? on ??

Quote from: retalids on December 15, 2020, 03:22:52 PM

yes u r right, before any investing in defi, you should check everything about project founders, financial model, tech background etc...

agree with you, and i personally try to invest in defi - dex projects. as for me, have a nice future, because decentralized exchanges make a great hype and growing in volumes

oh so u might be interesting in new stablecoin dex - xsigma, just announced and looks credible - they are backed by a public company. https://xsigma-lab.medium.com/meet-the-brains-behind-xsigma-defi-d2e89928f3f7 I read here about them

Shasha80

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When the sushi token dump, CZ must have panicked and did not expect this to happen, so no wonder CZ finally defended himself
by saying that DeFi projects are high risk investments. Even though CZ does not need to say that all crypto investors already understand
that investing in crypto does have a high risk. So it was obvious that CZ actions were just panicking about what happened to the sushi token.

imteaz

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90% of DEfi projects are scams. I have lost enough money on these scam projects in the last 6 months. Only those early investors who pump and dump made the money. Most defi projects have no real coin uses, just farm and stake the coin and sell the pump. So be careful if you invest in any defi coin. I wouldn't invest in any, never again.

Koutami

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Quote from: kindbtc on September 07, 2020, 02:50:13 AM

This definitely shows the loopholes in the system and research lacking service from Binance which was considered a difficult exchange to get listed but due to greed they have made this terrible mistake which has sort of exposed them too. I hope they will be careful from now onwards.

As far as i know, you need to have some legal paper to be listed on many big exchanges besides you need to pay several amount of Bitcoin for listing purposes, but i dont know how mechanism of this Sushi listing, its strange they didnt know who Sushi developer since Binance also need legal paper for listing as i know before. Or maybe binance get paid for shutup their mouth, i dont know.

retalids

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yes u r right, before any investing in defi, you should check everything about project founders, financial model, tech background etc...

FontSeli

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I really wonder how Binance posted on their exchange the tokens Sushi. As far as I know, they previously had a principle not to place anonymous coins. Once again, you can see that big money and prospects break the principles.

deathcode

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Quote from: tvplus006 on September 11, 2020, 11:01:35 AM

Today, the founder of SUSHI returned $ 14,000,000 of ETH back to the Treasury. This means that in the near future there will be a pump of this token, the price of which may increase several times. This is how positive news on the cryptocurrency market works.

sushi is now also listed on several major exchanges. Several major exchanges have also planned listed sushi schedules in a few weeks. I think this will improve the current market. which has seen a lot of decline due to the DeFi scam event.

tvplus006

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Today, the founder of SUSHI returned $ 14,000,000 of ETH back to the Treasury. This means that in the near future there will be a pump of this token, the price of which may increase several times. This is how positive news on the cryptocurrency market works.

unusualfacts30

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I am glad he spoke his mind and hopefully, it will help him look into his business and put more research before listing any new tokens. What happened to sushi could happen any token. dumps aren't really that uncommon in crypto world. This is why it is extremely important to not go all in when it comes to new projects and calculate your risk very carefully. Exchanges aren't there to save you, they are only providing trading service for a fee. Ever after dump it continued to have huge volume and people are still trading. so, who is to blame?

DraGonD

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Crypto is high risk industry/investment. Defi especially. Too many red flags, looks like bubble

zaim7413

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Quote from: TomArayaSlaya on September 10, 2020, 06:50:51 PM

Is was quite unfortunate and really that will make sushi looks like a bad project but i still see sushi making some gains in the long run if they maintain it Most of the issues is token having higher expectation than its actual value

Yes, and if the sushi team continues to develop and fix some of the mistakes that have occurred, it is not impossible that sushi will survive and can bring good benefits to everyone, it's just that the team needs time for that.

Snigdho07

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Honestly I am fully agree with CZ. At first CZ himself couldn't understand the matter with defi but after that he apologised. But his apology gives us a warning about defi. Defi is now highly risky. So be aware of defi project. Otherwise you can loose your cryptos.

TeraBite

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Quote from: TomArayaSlaya on September 10, 2020, 06:50:51 PM

Is was quite unfortunate and really that will make sushi looks like a bad project but i still see sushi making some gains in the long run if they maintain it Most of the issues is token having higher expectation than its actual value

Even it recovered so quickly than expected but overall situation is not into favor of that kind of project where the founder have control large portion of the supply and can dump at any time like this. Big players are involve in yield farming projects so these days we have a lot of copy cats in the market which could bring more big disaster in future.

TomArayaSlaya

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Is was quite unfortunate and really that will make sushi looks like a bad project but i still see sushi making some gains in the long run if they maintain it Most of the issues is token having higher expectation than its actual value

kawetsriyanto

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A project with DeFi is now very popular. But it is likely a similar previous hype, where some may be successful and lot continuing to be worthy coins to trade or even invest. But some are only trash that is very risky, super risky to invest. They are heading to dead coins once they release the coins. Will be interested so much? I think deep research must be involved when really going for DeFi.

bitkanu

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Quote from: hakertajniak on September 09, 2020, 09:13:13 PM

Well, every project have risk, but not all project have a high risk.
Sushiswap is a new project, so we still don't know whether the project is good or just a hyped project.
The dump happened on sushi i think it is because the price of the coin was rising high in short time, and people who bought earlier sold them to make quick profit.

There's other more influencing reason that makes it gets dumped so hard other than just a mere correction. Yes I know this kind of project obviously bear a high risk and that's why some people like CZ giving a warning about it because DeFi project right now is carried by the overwhelming hype and not because the project is really worth something and that means we should really be careful on choosing a Defi project.

Mahanton

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Quote from: royalfestus on September 10, 2020, 03:05:36 PM

Quote from: hakertajniak on September 09, 2020, 09:13:13 PM

Well, every project have risk, but not all project have a high risk.
Sushiswap is a new project, so we still don't know whether the project is good or just a hyped project.
The dump happened on sushi i think it is because the price of the coin was rising high in short time, and people who bought earlier sold them to make quick profit.

You missed the news of the exit scam of around $6m which affected the whole market especially for what the DEFI had brought to the space, through the fund and confidence. You should read more on this, it is not about the price pump, moreover is not the only Defi with such a price growth.

Into these kind of sentiments just like above on where to believe that this one isnt included into those shit project category then i cant blame him off since people would have its own perception but for sure he dont
have much that kind of an experience on how thing goes into this market.Of course we cant really detect out if SUSHI is a shit project or not because it all varies on the team behind and the consideration or
support of the masses towards this.Some might see this as a good one but the truth it doesnt really give out something useful or relevance then it would surely fall into those failed project category and
sorry for those people who do bought on the peak.

articlecity

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Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

Binance has the largest userbase of active traders and investors. So the community really looks after what binance does and what they list. Because they kind of trust binance so indirectly binance's reputation is itself at stake, with what happened with sushi i just want binance team and their researchers to be more responsible and they should protect the interests of their traders and investors rather than always chasing for profits for themselves.

optimisticcm

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Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

His clarification about sushi just exposes his greediness and to rush to make more and attract more users, even if they lose their investmemt.
I wonder how will even these big crypto companies like binance will feel to be making enough after making millions of dollars every month, seems like greed is not limited in this space.
I expect much better filtration amd listing requirements from bimamce so that only legit and quality projects get listed there.

marilynmanson21

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The reason why Defi become so hype nowadays, is because people know that the price of many Defi coin/token in the market is just rising up by a lot, not only 5-10%, but the price is up by over hundred percent, even some of them are up by thousand percent on it's price. Investing on Defi coin/token are basically high risk-high reward, you need to know when to buy and sell with a good timing.

Denies Distro

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I saw what cz said at the World of Defi event earlier and I don't think he was wrong and I agree with him, it's just that I think he shouldn't do a listing project like sushi earlier because I think it's quite terrible to list a project that has an anon team on major exchange like binance, and cz should fix this by listing defi tokens that have a real team.

royalfestus

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Quote from: hakertajniak on September 09, 2020, 09:13:13 PM

Well, every project have risk, but not all project have a high risk.
Sushiswap is a new project, so we still don't know whether the project is good or just a hyped project.
The dump happened on sushi i think it is because the price of the coin was rising high in short time, and people who bought earlier sold them to make quick profit.

You missed the news of the exit scam of around $6m which affected the whole market especially for what the DEFI had brought to the space, through the fund and confidence. You should read more on this, it is not about the price pump, moreover is not the only Defi with such a price growth.

hakertajniak

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Well, every project have risk, but not all project have a high risk.
Sushiswap is a new project, so we still don't know whether the project is good or just a hyped project.
The dump happened on sushi i think it is because the price of the coin was rising high in short time, and people who bought earlier sold them to make quick profit.

royalfestus

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CZ binance has the habit of post conflicting tweets to his position for marketing the exchange, I wish he employs a community manager for his twitter handle. Every project with anonymous team should be faced with a lot challenge to raise fund or rather getting exchange listing on centralized exchange. The team member with exit scam had been replaced, although the price has some recovery the effect on the whole market will take few days.

justdimin

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Defi projects are high risk but not because of the way you think it is. If someone came up and made a very good defi project obviously it doesn't mean it will automatically be risky just because it is risky, it is as risky as any other project, however there is an extra risk on random defi projects because there is a big big huge hype around defi right now and people are trying to say that if you do not be careful there could be some scam defi projects that you might fall victim to.

This is why we have to be careful about defi projects a lot more these days, not because they are defi but because they could be scam, if you ever find a defi project that is not scam and actually promises something realistic and good, you could still invest into it and make money.

ven7net

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Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

This story once again shows that the people who are behind such projects pursue only one goal, to make money by using the HYIP themselves. DeFi as a direction has a number of advantages, but scammers do not sleep and are just waiting for such moments in order to make quick and good money. You are right to talk about safety when choosing a project to participate. This is a very important criterion, especially when there is a big hype. History repeats itself, someone earns, and someone loses. All this once again reminds us that any investment always carries risks.

Bitstar_coin

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Quote from: coin-investor on September 07, 2020, 03:50:31 AM

Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

This made me rethink on my criteria on how to look on the project that we are going to support and invest, some people like me made Binance one of their criteria, we all thought if a project gets in Binance then it went through a lot of criteria including Binance listing but now I will take out Binance as one of the criteria, investors should do the same.

except you want to restrict yourself to maybe trading in coinbase since many people hold them in high esteem otherwise there is little you or cz can do to ascertain the authenticity of a project regardless of the period of vetting they have gone through, never easy to tell which will exit scam especially when they appear legit.

bct_ail

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The problem here is not that he deleted a twitter post. The problem is, that CZ said, he comply with the law and his exchange has high standards
He wants to know who is behind a project. He does not want the anonymity of the developers. And here he has listed a token from anyone who calling him / herself chief Nomi. Roll Eyes

plr

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Quote from: JeffBrad12 on September 08, 2020, 06:01:36 PM

As far as i know if that tweet has already erased by CZ and it looks like he didn't wanna take his responsibility to the traders and investors to did an audit before try to list a new coin especially sushi swap. if he was saying like that and how is it possible for him to listing sushi on his exchange site while we know that it has been running by an anonymous person.

I smell something BS from what has already said by CZ.

Very disappointing he is exposed as someone who don't care if traders will lose, the traders trust theie exchange that they will check who are behind this projects and if their platform is worth listed on their exchangem CZ only cares for money as long as the projects has money to list he will list even if they did not do audit or KYC on who are the people behind these projects.

grabpopcorn536

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His responses were very irresponsible to the community. List 1 crypto needs the necessary standards, not necessarily because of the amount they are willing to spend to be listed. CZ has had more than one experience in this market for many years and his statement shocked everyone. Some investors have left this exchange. By now I understand why Binance has such a large number of listed cryptocurrencies and the majority of them have low transaction volume.

shoreno

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wait what ? he remove his post on twitter ? oh why what happen . he dont need to do that or maybe he is affected on the recieved comments but still its better than not apologizing at all because he know himself that he also have also done wrong . binance was on top but thier founder still throw a words like this , i didnt expect that because if a company is already on top they dont usually care about the others . it wasnt totally his fault but it was also the fault of the investors . thier job is only to list coins

giammangiato

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I support all the CZ decision about the DEFI projects, for me they are all scam. We have to evaluate very good before to invest in this new kind of products. I don't want defi project in my personal crypto wallet, the pumps are only manipulations and fomo.

TastyChillySauce00

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I mean his statement kinda hold truth, most of people are just jumping into defi projects without even knowing what they are getting into and as a result it's basically the ICO hype back then starting again where people just throwing money to whatever project there is. It creates a bubble and always carry the risk so people need to be wiser when it comes to investing a DeFi project and should be conscious that this investment could either turns out to be the worst or the best because no one really knows what gonna happen.

Kunnu

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Now the listing procedure of binance exchange has changed they list projects not based on its quality, their first priority is to make money that's why we can see there are many useless defi coins have been listed on binance it's all clearly indicates that they don't care about their reputation and users.

Fredomago

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Quote from: Bezobraznike on September 07, 2020, 01:47:17 PM

We know DeFi is risky, Vitalik from Ethereum is talking about that for month and more. I don't know why CZ tweets about this,
maybe he feels guilty because he listed some DeFi projects without taking money from them!? He is earning from fees, and
as long as there's some trading he is earning his profit. He doesn't care about the people, all he cares is his business and his
profit! It's CEX, I don't expect anything else from them.

It's highly advised that before investing to anything you have to do your homework. DYOR!

There's no one to be blamed your participation is your own judgement, with how CZ acts he just simply voicing his opinion and he's free doing that. It's all about how investors judges and take the risk, for sure there are still traders who are willing to gamble and continue supporting this project.

diskodasa

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Quote from: jossiel on September 08, 2020, 04:54:30 PM

Quote from: lizarder on September 07, 2020, 01:41:18 PM

Indeed, it is risky because DeFi is like investing in a project by applying the science of gambling, indeed many have got x10-x100 profits in a fast time, but this is not appropriate to refer to considering investor who have lost x10-x100 are also there and it's better not to risk a lot money on DeFi project.

Defi literally caused FOMO for most investors.

As if we're back in the ICO common days where people invest in almost every project that comes out. Like this time, investors think that most of the Defi are for real and all of them are for money.

The risk is very much high just as seen with the dump for some of them.

Everyone knows investing in these projects is risky, but surely they will still invest for profit is not to be missed. The trend of investing in DeFi projects is on the rise and if you are an early investor, the chances of success are high.

However, the Sushi project is still traded at Binance until now, and trading volumes are still very high after their development team sold all the coins. I was also very surprised but this is a very good speculation to make a profit since there are no more pennies from the development team that they can sell.

pilosopotasyo

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Quote from: bct_ail on September 07, 2020, 05:53:55 AM

I haven’t seen the twitter post which is mentioned by the Thread starter. But regardless of this, CZ shows a double standard. Just look at this post on twitter. On the one hand he warns about it and on the other hand it is one of the first to list the tokens at his CEX.

Source: https://twitter.com/cz_binance/status/1300795684145127424

It was posted that CZ has deleted his tweet because obviously it will be harming the reputation of his company, so he comes out one that looks harmless and acceptable to the community, in the tweet deleted it looks like he is washing his hands, people trust his company, what they list, it used to be an accepted fact that when it is listed on Binance it's worth buying, now traders will have to think twice.

JeffBrad12

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As far as i know if that tweet has already erased by CZ and it looks like he didn't wanna take his responsibility to the traders and investors to did an audit before try to list a new coin especially sushi swap. if he was saying like that and how is it possible for him to listing sushi on his exchange site while we know that it has been running by an anonymous person.

I smell something BS from what has already said by CZ.

Quote from: jerrygarkia on September 08, 2020, 05:46:02 PM

This is the wild wild west of crypto. There will be scams, but there will be many useful experiments too, DeFi applications are like a testnet to real world finance and the possibilities.

Experiment for what? all of those defi are only repetitive platforms (forked) from the real one that called YFI. If you know the real story behind it and you will have different opinions about that too.

FaucetKING

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Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

Before a couple of moments, i've been browsing Twitter and i've seen him retweeting a post about DeFI saying that "China" will come or something like this. I don't know what he is trying to do but the thing that i'm sure of is that listing coins/tokens in Binance is one of the hardest things ever to do in this crypto field.
I smell that there's something strange and i'm almost sure that Binance's CEO got some coins in his hands in favour of the listing. I've never seen anything like this huge dump happen in that exchange before but these peoples love Ca$h, they do cringe things to grab money.

jerrygarkia

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This is the wild wild west of crypto. There will be scams, but there will be many useful experiments too, DeFi applications are like a testnet to real world finance and the possibilities.

AmoreJaz

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Quote from: qomariah95 on September 08, 2020, 05:21:54 PM

Quote from: jossiel on September 08, 2020, 04:54:30 PM

Quote from: lizarder on September 07, 2020, 01:41:18 PM

Indeed, it is risky because DeFi is like investing in a project by applying the science of gambling, indeed many have got x10-x100 profits in a fast time, but this is not appropriate to refer to considering investor who have lost x10-x100 are also there and it's better not to risk a lot money on DeFi project.

Defi literally caused FOMO for most investors.

As if we're back in the ICO common days where people invest in almost every project that comes out. Like this time, investors think that most of the Defi are for real and all of them are for money.

The risk is very much high just as seen with the dump for some of them.

That's what FOMO DeFi looks like today. No more people think of losses when investing, always think of short profits. even though the risk of loss is much greater. And this doesn't just happen to Sushi. but there are still a lot of scam DeFi projects. One of them is Tweebaa (TWEE) whose chart is very unnatural, after reaching $80 immediately dumped up to $1.

expect more of these DeFi scams on the way. if people will not be careful and just invest on a defi project which they think will give them huge profits, they will be screwed big time!
this early, we are already seeing crap defi projects. several accusations of plagiarism, using fake profiles, imitating original defi projects and so on...
so even without CZ's warning, people should be vigilant with these DeFis. only few of them are real.

qomariah95

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Quote from: jossiel on September 08, 2020, 04:54:30 PM

Quote from: lizarder on September 07, 2020, 01:41:18 PM

Indeed, it is risky because DeFi is like investing in a project by applying the science of gambling, indeed many have got x10-x100 profits in a fast time, but this is not appropriate to refer to considering investor who have lost x10-x100 are also there and it's better not to risk a lot money on DeFi project.

Defi literally caused FOMO for most investors.

As if we're back in the ICO common days where people invest in almost every project that comes out. Like this time, investors think that most of the Defi are for real and all of them are for money.

The risk is very much high just as seen with the dump for some of them.

That's what FOMO DeFi looks like today. No more people think of losses when investing, always think of short profits. even though the risk of loss is much greater. And this doesn't just happen to Sushi. but there are still a lot of scam DeFi projects. One of them is Tweebaa (TWEE) whose chart is very unnatural, after reaching $80 immediately dumped up to $1.

jossiel

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Quote from: lizarder on September 07, 2020, 01:41:18 PM

Indeed, it is risky because DeFi is like investing in a project by applying the science of gambling, indeed many have got x10-x100 profits in a fast time, but this is not appropriate to refer to considering investor who have lost x10-x100 are also there and it's better not to risk a lot money on DeFi project.

Defi literally caused FOMO for most investors.

As if we're back in the ICO common days where people invest in almost every project that comes out. Like this time, investors think that most of the Defi are for real and all of them are for money.

The risk is very much high just as seen with the dump for some of them.

MCobian

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Seeing what happened to the SUSHI price in the market was terrible, in just a short time the price dropped drastically. Many investors
were at a disadvantage, but what CZ said had a point. Because no one is forced to buy SUSHI. So you can't blame Binance exchange
or CZ for the SUSHI project. Many who fall victim to the SUSHI project are definitely newbie who are greedy, without doing research
and analysis, they just immediately buy SUSHI, because I'm sure that all newbies think about is instant profit.

mersal

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Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

Of course, he is saying the practical thing since he is not asking to buy any of these tokens its the users responsibility to make enough research about the project before going with the trend, this is not the first time the value of a project goes down but just in a day was big shock for every trader.I hope Binance will be more keen about addicng such projects in the future or better don't add anything if they want to keep their reputation high as before.

lenovop-70

full member

Activity: 1190

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The crypto industry is like sugar that attracts a lot of ants, as well as harmful pests, so no matter how good the packaging, there must be parties who want to profit for a moment. Just like this DeFi project, Defi was good, but they might miss, and in the end their project is no better than what it was before.
CZ_binance said is true, all coins are high risk, especially (for now) Defi is.

Bossfidelity

copper member

Activity: 350

Merit: 1

The dump in the value of sushi remains a controversial issue, but I'm not interested in the controversy. The issue of Defi scam projects has been on the increase as a result of the Defi trend, several scammers are devising measures to take advantage of the ignorance of several investors. We all need to be very careful Inorder not to fall victim.

Bezobraznike

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★Bitvest.io★ Play Plinko or Invest!

We know DeFi is risky, Vitalik from Ethereum is talking about that for month and more. I don't know why CZ tweets about this,
maybe he feels guilty because he listed some DeFi projects without taking money from them!? He is earning from fees, and
as long as there's some trading he is earning his profit. He doesn't care about the people, all he cares is his business and his
profit! It's CEX, I don't expect anything else from them.

lizarder

hero member

Activity: 1722

Merit: 895

Indeed, it is risky because DeFi is like investing in a project by applying the science of gambling, indeed many have got x10-x100 profits in a fast time, but this is not appropriate to refer to considering investor who have lost x10-x100 are also there and it's better not to risk a lot money on DeFi project.

rodskee

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OrangeFren.com

Quote from: Google+ on September 07, 2020, 11:44:21 AM

Quote from: cepot9 on September 07, 2020, 11:09:23 AM

I am quite disappointed with Binance because it has put in some obscure DeFi projects and it is for free, nowadays people continue to invest because the DeFi is so hype with absurd hikes. Of course there will also be a decline that makes no sense, it can even reach $0

if the DeFi price falls to a price of $0, it is unlikely that I am sure there will be some selling points that I think can still provide trading volume that can trigger investors to come in and play with the price like what happened to the SUSHI coin which in my opinion has price manipulation which is very visible.

Good example, sushi was hype then dumped hard then now again it's rising bringing the attention, if you are new or greed you'll think of riding then find yourself being trapped with no way out than losing your investments. You need to realized that playing against the whales are very tough, it's a fortune once you ride well but if not then its a disaster.

Quote from: jacafbiz on September 07, 2020, 12:12:44 PM

I do not understand why you people want to nail him for saying the truth, who in the space truly knows the identity of Sushi founder, there are many theories out there but no one is certain for sure. Anyone investing into a project need to be able to take responsibility for their own action, you win some and lose some

It's your full responsibilities, no one should be blamed if you loses your money due to investing without researching about the project that you are supporting.

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

Did we really needed someone like CZ to tell the public that all defi projects are risky in order for people to realize that? I mean it was already so obvious that after first good success story coming out of defi projects, people just threw money at all defi projects all around, even the scam ones got so much money because it had defi name in it, and some projects that weren't even defi started to use defi stuff in their projects to get more money, it was so obvious that it was all a cash cow for them.

If you really needed CZ to tell you that you should be careful, you are probably not right for crypto trading or investing, you should have figured that out yourself. In any case I can't say that I am shocked, people are too emotional with their money and they should be put to check.

Arkann

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Activity: 714

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Quote from: ?? on ??

Quote from: cepot9 on September 07, 2020, 11:09:23 AM

I am quite disappointed with Binance because it has put in some obscure DeFi projects and it is for free, nowadays people continue to invest because the DeFi is so hype with absurd hikes. Of course there will also be a decline that makes no sense, it can even reach $0

Why did it happen? What exactly are the Binance developers planning? I'm sure he already knows about the bad response from the community and the market. They should immediately fix something big to keep the market confident in Binance.

I believe that very little is simply knowledgeable, but certain actions are needed, since the desire to receive a certain profit for the Binance Administration has exceeded the concern for its rating and authority. I believe that you need to be more careful about the selection of projects that are in fact supported by the name of Binance. But you also need to take into account the moment that the cryptocurrency exchange has much more opportunities and resources to check any project and to analyze and subsequently predict future prospects.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

The same type of warning was send out by Gavin Andresen during the so-called "Cloud mining" stage, but people still ignored it and they burnt their fingers. Greed cloud peoples judgement and they will always fall for something with a high yield and lots of quick profits.

In some countries Ponzi Schemes are legal and people play around with it, so for those people things like Defi would be ideal hunting grounds for quick profits.

Warnings will once again go out to people about Defi projects and they will ignore it again. Mark my words, this is going to happen again. Angry

jacafbiz

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Activity: 2128

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PredX - AI-Powered Prediction Market

I do not understand why you people want to nail him for saying the truth, who in the space truly knows the identity of Sushi founder, there are many theories out there but no one is certain for sure. Anyone investing into a project need to be able to take responsibility for their own action, you win some and lose some

Google+

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Leading Crypto Sports Betting & Casino Platform

Quote from: cepot9 on September 07, 2020, 11:09:23 AM

I am quite disappointed with Binance because it has put in some obscure DeFi projects and it is for free, nowadays people continue to invest because the DeFi is so hype with absurd hikes. Of course there will also be a decline that makes no sense, it can even reach $0

if the DeFi price falls to a price of $0, it is unlikely that I am sure there will be some selling points that I think can still provide trading volume that can trigger investors to come in and play with the price like what happened to the SUSHI coin which in my opinion has price manipulation which is very visible.

Febo

legendary

Activity: 2730

Merit: 1288

Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump CZ reply with Highly risk especially on Defi project

Binance dont need to list any scams. All they get by listing scams is Binance users lose money. Sooner or later will lead to people leave Biannce for other exchanges where scams are not listed and users not cheated out of their money.

bakasabo

legendary

Activity: 2492

Merit: 1215

Quote from: cepot9 on September 07, 2020, 11:09:23 AM

I am quite disappointed with Binance because it has put in some obscure DeFi projects and it is for free, nowadays people continue to invest because the DeFi is so hype with absurd hikes. Of course there will also be a decline that makes no sense, it can even reach $0

But they warn many times that you buy everything by your own will and at your own risk. And continue to say that. They do not force anyway to invest. People should not alway relay in Binance decision and research what to list on their exchange. Why pay so much attention to Sushiswap? There are lots of same examples among Binance listed altcoins which price dropped the same.

Thanks God Binance did not list Hotdog token, otherwise people "eat" Binance.

cepot9

full member

Activity: 1050

Merit: 102

Cryptocurrency addict | Invest at your own risk.

I am quite disappointed with Binance because it has put in some obscure DeFi projects and it is for free, nowadays people continue to invest because the DeFi is so hype with absurd hikes. Of course there will also be a decline that makes no sense, it can even reach $0

taufik123

legendary

Activity: 2716

Merit: 1855

Rollbit.com | #1 Solana Casino

Investing without prior research is a very stupid decision and will only waste your money. Especially if you invest in the DEFI project. Defi projects are very popular lately and there are also many defi scam projects. Many fake cloned Defi coins target their victims to buy these coins and then when many have bought them they will withdraw their liquidity unilaterally.

It is very risky to invest in the Defi project, having to do more detailed research about the team, the project objectives. The true and original Defi project is to use a multi-signature wallet so that it is not arbitrary to withdraw liquidity, it must require approval by several people.

suzanne5223

hero member

Activity: 2660

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Want top-notch marketing for your project, Hire me

Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.

Cz Binance was absolutely right when he said on Twitter but I don't know why you guys are making big deal out of his statement but the part I don't like about the Capital market which are not doing the right research before listing Defi project cause 90% of all crypto investors trust the project listed on CMC.
@OP, I think you need to make your statement more clear next time.

BayAngelo

member

Activity: 882

Merit: 17

The sushi guy claims that he wants the community to be in charge of the project. he wants to reduce his authority on the project thereby accruing a huge amount of money from sushi tokens to Ethereum. the good aspect of it is that the community will decide the welfare of the project while the market controls the token price. recently, they said he handed the project over the FTT Exchange owner. Terrible.

Pffrt

sr. member

Activity: 1372

Merit: 322

I think it was unethical behavior from Binance to list coins without knowing the founder of the project and risk the investors.
Anyway, Defi is having huge hype these days and newbies are investing without knowing at all. It has been always with the trend/hype. If you check the yearn finance, you will see how much manipulation is there; still some people are investing.

tsaroz

legendary

Activity: 3094

Merit: 1069

DGbet.fun - Crypto Sportsbook

It's the right thing to tell by CZ at the moment. Binance is an exchange which faciliates trading between sellers and buyers, it can guarantee anyone about the value or future of a coin. They can't always research about the project and list only those who they finds have a potential. With so much of new projects and if they don't list them, users would move on to exchanges that does. I don't think it would be necessary to blame binance for such discrete incident.

Mahanton

hero member

Activity: 2730

Merit: 632

Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

Those words are definitely true yet Binance owner itself does know on how this market works and he do already see everything when it comes to hypes just like into those ICO days.
Now on this year we do have DeFi which it would really be just the same.Its not really that surprising if there are things that getting hyped then most people do really become careless
or do become too greedy thats why it do result into these kind of damage or devastation into their investment portfolios and later on they do whine that they had been fucked
up on that project.

LbtalkL

full member

Activity: 1176

Merit: 162

CZ made a tweet before he said that be careful of this super high yield returns on Defi, I was surprised that they list this sushi even if the founder is anonymous which is pretty risky move. I consider binance as very strict on verification but listing a project with unknown founder? That's is a big question mark and that founder made an early exit and dump all of his tokens.

casperBGD

legendary

Activity: 2156

Merit: 1151

Nil Satis Nisi Optimum

Quote from: Lagduf on September 07, 2020, 08:01:08 AM

CZ could not even stand with his opinion regarding the sushi swap coin. He was saying like that but in another side he was also listing the garbage coin like sushi swap coin on his exchange site

He was only feeling the care to take the profit and this time the creator of sushi was running with all of the money from his premined coin and FTX was acquired sushi project. This looks like unreal story between the creator of sushi, binance and FTX.

yeah, it is almost unbelievable to see what happened to Sushi, but one who invested in it, should think twice before investing, after investment and dump that happened, you have nobody to blame, other than yourself
on the other hand, Binance reputation was never too high, and this will lower it, but i do not expect that their turnover will go down, there is too much greed on the market at the moment

Lagduf

sr. member

Activity: 1162

Merit: 260

CZ could not even stand with his opinion regarding the sushi swap coin. He was saying like that but in another side he was also listing the garbage coin like sushi swap coin on his exchange site

He was only feeling the care to take the profit and this time the creator of sushi was running with all of the money from his premined coin and FTX was acquired sushi project. This looks like unreal story between the creator of sushi, binance and FTX.

Kotone

hero member

Activity: 1372

Merit: 503

Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

If you dont know CZ is also a businessman. Of course this is only due to business. If he didnt add sushi they will be added by other market leaving them the chance to add liquidity on their market. I always know how a chinese guy think. They are probably sure that sushi has an anonymous dev but not to let down they still added it.

thesmallgod

full member

Activity: 1498

Merit: 129

Newbies are only interested in making profit within a short period. It is only when things get sour they try to understand what they are into. Defi is trending and what majority see is one token with more than 500% rise within short time so they join and also put their money into it. Majority of defi project today don't even have a fully developed platform not to talk about white paper and roadmap aside some existing project that also dive into defi

bct_ail

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Activity: 2660

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https://t1p.de/6ghrf

I haven’t seen the twitter post which is mentioned by the Thread starter. But regardless of this, CZ shows a double standard. Just look at this post on twitter. On the one hand he warns about it and on the other hand it is one of the first to list the tokens at his CEX.

Source: https://twitter.com/cz_binance/status/1300795684145127424

masterrex

full member

Activity: 1820

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Its a continuing cycle and CZ has no power to reverse it, just like 2017-2018 trend many were after the FOMO and buying any coins/tokens they want just like these days but It was was used another word and this time its Defi the FOMO in the past days is real thats why many investors are caught and weep because their money was gone with the wind. I feel sorry for them but its part of the game and the worst side of FOMO!

istiak2277

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KUWA.ai

What CZ said is correct but what he has done is not right. Before CZ said that when a new project is listing in binance that project needs to fill detailed information about the founder of the project. But now he said that he doesn't know who is the founder is. If he didn't know who is the founder is then why he listed that project. They just care about their money, not investors.

kingzpro

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Sushiswap's owner chef nomi has allegedly cashed out 37000 Eth which is huge to say the least and now he is looking to handover the project to some other developer, news reporting that ftx will be getting sushiswap development and management. This is massive modern day exit from chef nomi to say the least. Binance should also ramp up their due diligence process to list only top quality projects.

Investo20

jr. member

Activity: 342

Merit: 3

Cz is right from one point of view. They are also doing business. We think that Cz is listing means they everything is fine. But that's not. We have to stop taking Cz as a legit marker.
Cz also doing business and if any project give a good reason to trust them and pay the money properly then why they will not list the project.
We have to do our own research everytime and the risk is also ours.
This is right from Cz's end but If they always keep that careless responsibility then this will effect their reputation definitely sooner or later.

Jawhead999

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Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag

IMO CZ is very late to take decision and responsibility on crypto news.
IIRC SUSHI crashed on 1-2 days ago, while YAM has been crashed around 1 month ago. He need to warn first if they want to list a DeFi token, reacting after the coin/token crashed is not a wise idea.

Even though this is not 100% CZ fault, but he can save many newbies if he warn it before.

coin-investor

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Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

This made me rethink on my criteria on how to look on the project that we are going to support and invest, some people like me made Binance one of their criteria, we all thought if a project gets in Binance then it went through a lot of criteria including Binance listing but now I will take out Binance as one of the criteria, investors should do the same.

Henrytrust

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The rate at which Defi projects are cashing out this days makes investment in Defi very scary and it's wise to take effort to research about the project before deciding on which project to invest.

Wapinter

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Hire me for Bounty Management

Quote from: Bubu9844 on September 07, 2020, 01:53:30 AM

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

CZ or anyone else for that matter should not be blamed for noobs greed.
One should do proper research before investing.
Just because a project is on binance or some other top exchange is no gurantee of its genuineness.

kindbtc

member

Activity: 1008

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SAPG Pre-Sale Live on Uniswap!

This definitely shows the loopholes in the system and research lacking service from Binance which was considered a difficult exchange to get listed but due to greed they have made this terrible mistake which has sort of exposed them too. I hope they will be careful from now onwards.

(o)(o)ilikeboobs(o)(o)

full member

Activity: 826

Merit: 105

CZ's answer alarmed everyone, Binance is a great casino of gamblers, they list because they get paid and they don't care about investors' losses. This is also how Bithumb exchange lists YBDAO (YBREE).
Because of the above reasons, I have always had a more confident view of Coinbase and Gemini in listing projects. The list very few projects but their quality is very high.

HunyB

newbie

Activity: 17

Merit: 1

Yes that's true the newbies invest their hard money in Defi Project without any research or information. This hype of Defi leads to loss of huge money to newbies. Everytime first research yourself about project. But Binance list sushi for their own profit was totally wrong.

Bubu9844

jr. member

Activity: 239

Merit: 1

After Sushi Dump (another defi project) Cz_binance
Reaction was - "I don't know who the founder is . We don't Force you to buy . All coins are high risk , especially DeFi"
And he also removed that post from twitter.
At this time many suspicious project coming with DeFi tag
Because currently DeFi is trending.

Please Follow every single DeFi project with team activity , management , what they think about their project in coming days..
We have to invest or not .

Every time research first about that project ... Newbies are only finding DeFi project currently and then they invest on that without any research & all that

Topic: After Sushi Dump CZ reply with Highly risk especially on Defi project ?? Agree ? (Read 878 times)