Topic: DeFi project beginning to sounds ridiculous - page 2. (Read 1175 times)
DeFi hype started to go down and now we see more and more really good DeFi projects, not those, who wanted just to earn money and had thousands percents up and down per day. The same situation happens like it was with ICOs. Bad ones dies and good projects appears and start development
this is happening because people love money and they will do anything for it including trusting the people they don't know. People should be informed of what they are dealing with
People invest their money into something named after food with emojis as logos and get surprised when they get scammed, it's amazing really.
You made me laugh mate hahaha,You are perfectly correct in this one and same as my observation,Hotdog project becomes popular as what i have seen in some threads though i don't literally check this.And according to coin telegraph now
Quote
The co-founder of crypto data aggregator Markets Science, Twitter-user ‘Bitdealer,’ has shared a chart indicating negative correlations between 11 top DeFi tokens and BTC over the past 45 days to Nov.1, with AAVE showing neutral correlation and UNI showing confluence if less than 0.1.
Seven of 13 DeFi tokens were also found to have negative correlations with Ethereum (ETH), despite Ethereum powering much of the DeFi ecosystem.
With many decentralized finance (DeFi) tokens struggling while Bitcoin (BTC) surged in price this week, analysts have identified a longer negative correlation between DeFi tokens and BTC.
Seven of 13 DeFi tokens were also found to have negative correlations with Ethereum (ETH), despite Ethereum powering much of the DeFi ecosystem.
With many decentralized finance (DeFi) tokens struggling while Bitcoin (BTC) surged in price this week, analysts have identified a longer negative correlation between DeFi tokens and BTC.
You can read the full details here
https://cointelegraph.com/news/zero-sum-game-defi-declines-while-bitcoin-booms
People invest their money into something named after food with emojis as logos and get surprised when they get scammed, it's amazing really.
i was pretty excited about Defi when news started popping off all over this forum and others, i thought it's going to bring something
fresh that could make a huge success,
But it does already mate,Look at the top 10 cryptocurrencies now?some of those are from DeFi project that comes from lower rank goes upfresh that could make a huge success,
faster to take the position from the Old coins.
but i feel like most of the projects failed, and boy there are lots of Defi projects
most of them turned up to be a failure sadly.
What do you expect from this kind of market that People are tying to scam people while the news is fresh?most of them turned up to be a failure sadly.
imagine how fast the news spread the crypto world so the scammers gills comes alive again and go with the flow.
the problem is people here in market of crypto still don't learn lesson from the past and still becomes the victim.
i was pretty excited about Defi when news started popping off all over this forum and others, i thought it's going to bring something
fresh that could make a huge success, but i feel like most of the projects failed, and boy there are lots of Defi projects
most of them turned up to be a failure sadly.
who wouldnt be ? i am too because i was thinking at first that defi can be the replacement for the ieo , ieo was not a total failure but it lacks some shine and only few ieo were only produced . first early days of defi supply that shine that im looking for and defi continous to produce many projects but its later run are not going well because recent projects are now performing bad . i guess thats how it goes to all source of crowd funding , ico and ieo have gone thru this but atleast we had the chance to experience something new and if we got lucky we can earn at short period of time fresh that could make a huge success, but i feel like most of the projects failed, and boy there are lots of Defi projects
most of them turned up to be a failure sadly.
i was pretty excited about Defi when news started popping off all over this forum and others, i thought it's going to bring something
fresh that could make a huge success, but i feel like most of the projects failed, and boy there are lots of Defi projects
most of them turned up to be a failure sadly.
fresh that could make a huge success, but i feel like most of the projects failed, and boy there are lots of Defi projects
most of them turned up to be a failure sadly.
Defi is an inmature field at this moment, be cautious is you invest in it.
Try to make a deep search ni each defi project before invest.
No how the DeFi project moves, A good investor/ trader is supposed to properly make research and enquiry about the project before going for purchase. Try to make a deep search ni each defi project before invest.
Defi is an inmature field at this moment, be cautious is you invest in it.
Try to make a deep search ni each defi project before invest.
Try to make a deep search ni each defi project before invest.
Defi like pump and dump game.
And it's also very similar with a gambling as when someone was investing in the bad defi and he will always be scammed by the scam defi. Gambling in the defi project is a very high risk decision. People should have experienced with the smartcontract, how to analyze the fundamental and various things involved to be able discover the legit defi.
It's a pump and dump scheme while sometimes it can be ended as a scam.
Such is expected as usual. scammers will also detect a loophole to scam gullible invesotors. it started with YFI, a project with little supply sold past 40,000k per token. with littleor Nothing to offer. then, there was Meme, Rope and so many others that looks like Pump and dump project. what surprises most people including me is that some of these projects has good developers and they clearly stated the High risk in vesting in projects like this.
it looks like people enjoyed taking risk to make money than to focus on gradual developing projects.
it looks like people enjoyed taking risk to make money than to focus on gradual developing projects.
People should stop generalizing and consider all defi project as bad, among the defi project of this recent times there are a few good ones, in short, defi is not the problem but the dev team taking the advantage of the defi trend, but despite all this negativity surrounding the defi project there are still handful of it that are good and genuine, so i don't think it is right to generalize and conclude that the whole defi ecosystem is bad just because of the bad ones among them.
I doubt that people here are generalizing DeFi as all scams because in some posts we can see that they are referring to those scams like Hotdog or that Sushi something.They just wanna make people aware of the chances of being scammed if not do necessary action towards defi projects.
Im just waiting for these defi projects to end so that traders are in btc and alts again. Defi are just a copy of ico the thing is its only enhance ico. But defi will also follow the also the road of ico.
I believe for those who trade DeFi token especially on Uniswap are temporary. They only use a hype event and after that they will come to use bitcoin to trade and saving their money for long term investment. Take a look with the major of DeFi token price right now, it is horrible to see. But who know what will happen next? There is a different thing with the previous crypto event. DeFi event has brought a new system who has waited for a long time and indeed I realized that we need a decentralized finance.
So, just the crypto user who will decide that DeFi project is worthless or not. We are already know and we have been faced many times that new project that didn't give anything or there is no value/real function from the project then we just need a few times to see the project will be a shitcoin, unless it will be different if new project has a good function and give a good impat for crypto user maybe I can say that the project will compete the old coin even it is bitcoin.
Nowadays, many projects come to the market without a team. And initially their price is pumped, so that people buy it with the intention of profit. But after a few days, its price starts to fall, and those who have invested in it are at a huge loss.
We should stay away from such projects, as they come in the market only for a few days. When Scammer earns a good amount of money, he starts work on another project.
We should stay away from such projects, as they come in the market only for a few days. When Scammer earns a good amount of money, he starts work on another project.
With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?
DeFi seems to be just another ICO bubble, and I bet fomo is the main reason, so many people are scared of missing out, cus they saw how so many coins were just going up without any pull back, coin like Hotdog was a real bubble Why do you think this is happening?
, reached the peak and just fell down back to where it originally started, also alot of scammers seized the opportunity to start naming their scam projects with similar names to the successful DeFi projects, "YFI" was the most used by scammers, they came up with names like YF MOONSHOT, YFIR.finance etc which turned scam after two to three weeks, too bad the DeFi hype is no more there. Hotdogs, burgers, sushi. Hmmm. I believe they have a beer and pizza variant too. Why these Defi projects wants to be named after food, I wonder. Definitely not projects that you can take seriously.
To get the same hype as the early defi projects that used the name of food like sushi or kimchi(scam).If you were also watching the defi projects called uniswap and there were so many new projects have used the finance name too. This trend is always repeating so many times. The first trend was bitcoin fork coin and that makes these fork scam coins appeared in the market.
The market looks so crazy right now.
There are too many of them actually. They're claiming to be revolutionary project using Defi blah,blah, blah. Some Defi projects that comes with an exchange of their own that offers zero transaction fee (this feature is a good one though if it is truly a zero fee dex). I'm active on an AMA group and one of those Defi projects that conducted ama turnout to be a scam. Thankfully, the project shutdown immediately without taking much of investors money. But I know that not all Defi projects are scam.
Its sounds ridiculous sometimes that they came up with food names into a DeFi project and it did really created a hype to people wanted to take part in and ride the hype train. There are some deserving DeFi projects out there that worth the spotlight but we cannot take away that their are people wanted to take advantage the hype of it. So, that's why the decisions will always be a vital to avoid scams on fake DeFi projects popping out.
actually i found it funny that the first one i have read is Sushi project in which a Japanese food and then this one Hotdog,i was wondering why people are investing in this obvious hyped currency?or maybe they are just greedy wanted to gain
instant money but in the end becoming the victim?
Hotdogs, burgers, sushi. Hmmm. I believe they have a beer and pizza variant too. Why these Defi projects wants to be named after food, I wonder. Definitely not projects that you can take seriously.
So there is also a BURGER project?what is happening to these people?where in earth that they are still hyping?anyway lucky that me and my friends will never believe project such this.
Hotdogs, burgers, sushi. Hmmm. I believe they have a beer and pizza variant too. Why these Defi projects wants to be named after food, I wonder. Definitely not projects that you can take seriously.
That's why we need to be careful on such particular scams happening since whatever trend came scammers are riding the fame of new one so much better stay away and always look deeply on what Defi tokens we are going to and if we think it sounds scam we should not go with it and look for another.
Hotdogs, burgers, sushi. Hmmm. I believe they have a beer and pizza variant too. Why these Defi projects wants to be named after food, I wonder. Definitely not projects that you can take seriously.
To get the same hype as the early defi projects that used the name of food like sushi or kimchi(scam).If you were also watching the defi projects called uniswap and there were so many new projects have used the finance name too. This trend is always repeating so many times. The first trend was bitcoin fork coin and that makes these fork scam coins appeared in the market.
The market looks so crazy right now.
Hotdogs, burgers, sushi. Hmmm. I believe they have a beer and pizza variant too. Why these Defi projects wants to be named after food, I wonder. Definitely not projects that you can take seriously.
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