Topic: 💩DeFi scams [history]💩 - page 5. (Read 1631 times)
I still don't understand what is sustaining the rise in YFI. I mean seriously how can people be pouring in money to it when there's really nothing other than a concept similar to a masternode on steroids.
If defi project is scam, many people will lose their asset .
And crypto world will lose their trust.
And crypto world will lose their trust.
If one of the DeFi projects turns out to be a scam, then no one will be surprised. Everyone is already used to the fact that the cryptocurrency market is very dangerous and it is very easy to lose your money here, even if the project does not turn out to be a scam. Some investors will always lose their money, so you need to be careful when making a decision about investing.
There must be some current DeFi projects whose purpose is only for deceiving, not all just a few. When it tradable on the exchange it will be difficult for project team to control the price, if there is even one bad news about the project it will really make the price down because there will be panic sell.
https://coinmarketcap.com/currencies/primalbase/
To be honest it is my first time after 4 years in crypto market I have seen a coin or token has its value higher than bitcoin.
You can check PBT (Primalbase) the ATH is around $7,900 Aug 31, 2017 when BTC price at that moment around $4,600, and see PBT current price is only $170, this happened when ICO's was hype.https://coinmarketcap.com/currencies/primalbase/
All DeFi projects are now on fire. I don't know whether YFI is a scam or not because it is now on top 41 ranked coin which supply is only 30k. This may have impressed investors. But i am in confussion about the price of this coin. $16k price hit last few days ago which is higher than Bitcoin. This is bubble and investors may face huge losses if it blast.
It blasted off and the question now is only when it will be bursted? To be honest it is my first time after 4 years in crypto market I have seen a coin or token has its value higher than bitcoin. Years ago, at the all time high, Ethereum did not reach 0.2 BTC for each ETH. What happened with YFI? And what happened with the market capital flow? Does the market have a very fresh capital from newbie investors? 
Hory shite that scenario reminds us of the 2017 bullish trend.
If defi project is scam, many people will lose their asset .
And crypto world will lose their trust.
Not this time, people can now differentiate legitimate projects from scams. But new people are engaging in the crypto space so it cannot be avoided to lose their trust. And crypto world will lose their trust.
If defi project is scam, many people will lose their asset .
And crypto world will lose their trust.
And crypto world will lose their trust.
All DeFi projects are now on fire. I don't know whether YFI is a scam or not because it is now on top 41 ranked coin which supply is only 30k. This may have impressed investors. But i am in confussion about the price of this coin. $16k price hit last few days ago which is higher than Bitcoin. This is bubble and investors may face huge losses if it blast.
I am watching another DeFi - CURVE Finance token, whose price dropped from $ 100 to $ 3 after listing on Poloniex on August 14. Despite this decrease in value, I do not attribute this token to scam, although it is clear that many lost their money investing in it at an early stage. Now CRV is trading around $ 4, and I think that this token has the prospect of growing in price several times.
I also thought they weren't a scam, but the price dropped too much and caused many investors to lose money. And if the investors lose money they will think it is a scam project. In the future I think its price will increase again, but it will take a lot of timeSudden drops to huge value will always have negative opinions about the coin, so we need to be very careful with those companies. It is already listed in Binance which has higher chances to increase its price in the future, it will take a lot of time to recover it's price. 100$ is really very high amount and dropped to 1$ is really funny.
then I make sure this is the beginning of another Defi project to go to a scam, be careful
What a big surprise, I thought it's over for YAM project, I would have jumped into the wagon right after the dumps took over but I guess it's too late right now, the lesson here is not all dump projects are dead, finding out why there is a dump should be the first thing to do better making a decision
I am watching another DeFi - CURVE Finance token, whose price dropped from $ 100 to $ 3 after listing on Poloniex on August 14. Despite this decrease in value, I do not attribute this token to scam, although it is clear that many lost their money investing in it at an early stage. Now CRV is trading around $ 4, and I think that this token has the prospect of growing in price several times.
I also thought they weren't a scam, but the price dropped too much and caused many investors to lose money. And if the investors lose money they will think it is a scam project. In the future I think its price will increase again, but it will take a lot of time 
YFI
https://coinmarketcap.com/currencies/yearn-finance/
July 1 - $ 32 (Price of several pizzas
)
August 21 - $ 14,300
Where is the price ceiling?
YAMv2
https://www.coingecko.com/en/coins/yam-v2
The price is going up a lot. Big losses do not teach people anything
Ocean, Just, Ring - Record-breakers in price growth. +700 + 1300%
https://coinmarketcap.com/currencies/yearn-finance/
July 1 - $ 32 (Price of several pizzas
)August 21 - $ 14,300
Where is the price ceiling?
YAMv2
https://www.coingecko.com/en/coins/yam-v2
The price is going up a lot. Big losses do not teach people anything
Ocean, Just, Ring - Record-breakers in price growth. +700 + 1300%
The Defi market is on fire but besides of this development, we shouldn't take our guards down while investing in cryptocurrency. because Defi is not exempted from scams and fraudulent activities because bad actors are always lurking around and patiently await the right time to strike its victims, I hope Yam token would serve as an example.
There are a lot of Defi projects popping up every day and if you don't research carefully, you will easily lose money when participating. I am investing in a lot of new projects every day and if there is a profit I will sell immediately because we don't know what's behind the project. One way or another, you need to secure your investment and consider it carefully when making a decision. I am watching another DeFi - CURVE Finance token, whose price dropped from $ 100 to $ 3 after listing on Poloniex on August 14. Despite this decrease in value, I do not attribute this token to scam, although it is clear that many lost their money investing in it at an early stage. Now CRV is trading around $ 4, and I think that this token has the prospect of growing in price several times.
CURVE Finance project tokens were launched by a third-party developer
https://twitter.com/Dogetoshi/status/1294099367452966913
At first, the team recognized the tokens as a scam
https://twitter.com/0xc4ad/status/1293977012550467584
Then the team wrote that everything is fine
https://twitter.com/CurveFinance/status/1294089573673455617
New #DeFi Listing: @CurveFinance from Polonex
https://twitter.com/Poloniex/status/1294084308492333058
Where else will you see such a circus?
Defi are scams not sure but currently they are performing very well. They are good for current days. In future we do not know. We should not hold it for long time.
This is a lame accusation and it doesn't hold water; you can't just make an assumption saying "Defi are scam" it means altcoins considered to be "Defi" are scam which is very very uncertain and lacks basic ascertation. We have legitimate Defi projects out there doing great and the teams behind them are working relentlessly to give Inventors an incredible Decentralization.
YAM wasn´t a scam, they only launched the project too early without auditing the code. Someone find the bug in a smart contract code and caused a dump. But the creators didn´t scam people, they didn´t abuse investors fund, right? 
i dont trust new token that launched in uniswap , recently many new token there and price could soar more than 5x only in few minutes or hours. even this token could beat best project in crypto market that already exist for years.in my opinion YAM and other token that launched in uniswap only speculation to pump and dump. it will die in several months later.
Many new tokens have appeared on Uniswap, which are currently trading around 1-5 dollars. The task of the investor is to determine which of these DeFi is a scam, and which one can give a 1000% profit in the future. Because soon these new tokens will appear on cryptocurrency exchanges and their price will increase many times.
The truth is that we would continue to see issues like this, as several projects are going to be established to take advantage of the trend. Defi on its own is a great concept, but we cannot hide the fact that there are still scammers who are concerned about ripping off ignorant investors, we really need to be careful about Defi projects, especially the upcoming ones.
Nearly all the new crypto projects are in DEFI category and most are baseless. Just few DEFI projects are ready to foster development of DEFI products, some just hide under the DEFI umbrella to create hype around their coin/token. Diversification is necessary, if all projects start being in DEFI category, it won't make much sense. At least some should foster sports betting, green energy, traveling etc.
The truth is that we would continue to see issues like this, as several projects are going to be established to take advantage of the trend. Defi on its own is a great concept, but we cannot hide the fact that there are still scammers who are concerned about ripping off ignorant investors, we really need to be careful about Defi projects, especially the upcoming ones.
I am watching another DeFi - CURVE Finance token, whose price dropped from $ 100 to $ 3 after listing on Poloniex on August 14. Despite this decrease in value, I do not attribute this token to scam, although it is clear that many lost their money investing in it at an early stage. Now CRV is trading around $ 4, and I think that this token has the prospect of growing in price several times.
me either because drop of the price is normal but the drop of 100 to 3 usd is shocking . its crazy to think of people that actually bought the coin at 100 dollar per piece and what if they bough more than a piece .
they could be crying now . they trust the coin so much just because its labeled as one of the defi hype . hope this thread helps for those who are planning to join the defi train .
I am watching another DeFi - CURVE Finance token, whose price dropped from $ 100 to $ 3 after listing on Poloniex on August 14. Despite this decrease in value, I do not attribute this token to scam, although it is clear that many lost their money investing in it at an early stage. Now CRV is trading around $ 4, and I think that this token has the prospect of growing in price several times.
Jump to: