DeFi project beginning to sounds ridiculous - page 3.

rodskee

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Quote from: SomeJasonGuy on September 03, 2020, 02:12:23 AM

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?

I just find it stupid that someone will invest in that project knowing the name of the company is "HOTDOG?"

Kinda funny and name and looking at their team seems nothing is certain ,Hope they have just fooled small amount from this.
Scam like this is always here to come from everywhere since the Defi project has just got what they wanted and now is looking like what we have in 2018.

Lucky for me that i have stopped believing in newly coming currencies instead i am contented in what i have been holding and buying from older coins.

Quote from: fourpiece on October 14, 2020, 05:55:05 PM

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.

They will not end all because for sure there are some others that is legit and have a good future ahead.

carlisle1

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Quote from: Marina5 on October 15, 2020, 12:09:22 AM

Quote from: SomeJasonGuy on September 03, 2020, 02:12:23 AM

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?

All the old coins are turning around. In a very short time, it may freeze as before. It seems that the insanity of the defi project will not last long.

Nice use of word "Insanity" ,while many coins are struggling hard these defi projects are making its way up but there are some thinking about the fall of many defi based projects.

i know how popular this defi thing now but like you i doubt that it will last that long because Altcoin season shows this way in past but
in the end fell down hard.
So hopefully those who invested here will realize this earlier before they fall hard with the projects they are supporting now.

Marina5

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Quote from: SomeJasonGuy on September 03, 2020, 02:12:23 AM

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?

All the old coins are turning around. In a very short time, it may freeze as before. It seems that the insanity of the defi project will not last long.

fourpiece

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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.

Mame89

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Activity: 1736

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A few days ago I have a defi token and I maintain it until now I think the price will continue to rise but what happened turned out that what I expected was really ridiculous and this I really experienced it. I don't need to show the coin it's just that currently the price has dropped dramatically from the highest price of 1 token equals 1 eth, currently it's only US $ 87.59 -12.1%
I feel utterly ridiculous for missing a golden opportunity and ignoring it.

raidarksword

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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.

Bitstar_coin

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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.

michellee

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Quote from: Arkann on October 11, 2020, 09:26:53 AM

Quote from: michellee on October 10, 2020, 04:33:11 AM

I think the DeFi project is like a Hit and Run project, which we can make a lot of money in a short time, and we must get out of the market before it's ending. We can buy many DeFi tokens at the market, but we will need to sell once the price can jump to the high price. After that, we need to search for another DeFi project to buy, hold for a while, and sell it when it increases. It's happened to many DeFi projects. And it seems this will continue like that until the end of this year. Hopefully, we can use it to make as much money as possible to recover our losses before.

DeFi projects appear to be repeating the history of ICOs, as all investors buy DeFi tokens only to sell those coins when the price rises significantly. Based on this, it can be suggested that the prospects for most DeFi projects are very dubious, and only those that represent the final product will survive.

That will be no problem if the DeFi projects is like the ICO. The investor will be like to buy the tokens in the beginning, hold it until the token enter the market, and sell it at the high price. It will happen like that, and I think we will see that in the future, but with the new name of the trend. I think many people are doubt the DeFi project, but they can not hold themselves not to join with the trend. And as what we already saw, many investor make a lot of money from the DeFi, and these situations is almost the same as when the ICO trends appear.

peter0425

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Activity: 2618

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Quote from: SomeJasonGuy on September 03, 2020, 02:12:23 AM

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?

as what i was waiting from couple of months ago that these defi thing will surely bring 2 things,the positive and negative side.

while so much good things i have been read an continuously posted in this forum.

There are also too many claims of defi being scamming.

If you are not ready to risk your money,then go away from these project and instead bet in top 10 coins for your own safeties.

Jocuserious

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Activity: 1936

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Quote from: pealr12 on September 03, 2020, 07:36:32 AM

I guess defi projects will be same as the ico projects before, after a year of conquering the market they will slowly get out. Lots of defi projects is being added on cmc day by day but in the end they will leave.

It's like 2017 year when ico mark lot of hype where there is a widespread response to defi hype in an equal way. I probably know that 2017 year was ended with ico hype and later this year 2020 will end with defi hype. Every presentation will result in a scam where scammers will make a lot of money and new investors will lose money.

imteaz

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Well, Doesn't matter who thinks what but the Defi market is very profitable if you are able to get in first and farm for 7 to 10 days and sale, you can make lots of money. Fortunately, I got into some Defi project early, did farm the coin, and sold on top. You just have to be smart and sell and get out and take profit. This is what Defi all about =)

Arkann

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Quote from: michellee on October 10, 2020, 04:33:11 AM

I think the DeFi project is like a Hit and Run project, which we can make a lot of money in a short time, and we must get out of the market before it's ending. We can buy many DeFi tokens at the market, but we will need to sell once the price can jump to the high price. After that, we need to search for another DeFi project to buy, hold for a while, and sell it when it increases. It's happened to many DeFi projects. And it seems this will continue like that until the end of this year. Hopefully, we can use it to make as much money as possible to recover our losses before.

DeFi projects appear to be repeating the history of ICOs, as all investors buy DeFi tokens only to sell those coins when the price rises significantly. Based on this, it can be suggested that the prospects for most DeFi projects are very dubious, and only those that represent the final product will survive.

michellee

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I think the DeFi project is like a Hit and Run project, which we can make a lot of money in a short time, and we must get out of the market before it's ending. We can buy many DeFi tokens at the market, but we will need to sell once the price can jump to the high price. After that, we need to search for another DeFi project to buy, hold for a while, and sell it when it increases. It's happened to many DeFi projects. And it seems this will continue like that until the end of this year. Hopefully, we can use it to make as much money as possible to recover our losses before.

rizkyalhabsy

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I think it's like a very different period, indeed a lot of saying defi is like a bubble I think that's true

isabella17

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Arkann

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Quote from: ololajulo on September 25, 2020, 05:15:46 PM

Quote from: pealr12 on September 03, 2020, 07:36:32 AM

I guess defi projects will be same as the ico projects before, after a year of conquering the market they will slowly get out. Lots of defi projects is being added on cmc day by day but in the end they will leave.

I still consider the scam claims on Defi to be early, I also feel the ICO comparison is still early, ICO raised so much fund that we have not seen such in cryptocurrency at the moment. Ethereum contribution to both start up process are similar but i think I consider Defi is to be improved with financial use case for cryptocurrency.

Today, many scammers are promoting their projects, while including the abbreviation DeFi in the description in order to attract as much attention as possible. But such projects actually have nothing to do with decentralized finance, and cryptocurrency users who are not used to analyzing available information very often lose their funds because of this. I also very often compare DeFi and ICO projects in the sense that sooner or later the scammers will seize the moment and at the peak of the popularity of DeFi projects they will run their business.

rk8814719

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ololajulo

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Quote from: pealr12 on September 03, 2020, 07:36:32 AM

I guess defi projects will be same as the ico projects before, after a year of conquering the market they will slowly get out. Lots of defi projects is being added on cmc day by day but in the end they will leave.

I still consider the scam claims on Defi to be early, I also feel the ICO comparison is still early, ICO raised so much fund that we have not seen such in cryptocurrency at the moment. Ethereum contribution to both start up process are similar but i think I consider Defi is to be improved with financial use case for cryptocurrency.

erikoy

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Sad but project was only made to be implemented but after some hypes all will be ended. How can we expect to get a good name of cryptocurrency if all matter here is self interest about scammingm or money? Hence, it will be difficult to achieve and probably forum will be left too due to this scam activity. And if there will be another forum to cater and screen projects then that forum might be able to surpass bitcointalk. For now, no forum could stand against the bitcointalk because most of the forum now are mess with users violating rules and regulations.

kotajikikox

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Quote from: SomeJasonGuy on September 03, 2020, 02:12:23 AM

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?

What about the Hotdog project?you should tell us here what happen on this ,But checking what are those i found this

https://coinmarketcap.com/headlines/news/4000-to-1-in-5-minutes-defi-hotdog-and-pizza-present-free-fall-on-their-first-day/

Looks like these Whole Defi thing is a Scam?or there might be some that legit and not totally making BS for the investors though it is hard
to distinguish until it happens.

Let us just take 1 step forward against these scams,for our own safeties guys.

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