Define the (scam) DeFi. | Bitcointalksearch.org

zasad@

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Quote from: SquirrelJulietGarden on June 15, 2022, 10:29:15 PM

Quote from: zasad@ on June 15, 2022, 02:03:26 PM

DeFi projects are not only finance and staking. Any project that promises to earn 20% per annum in stablecoins from staking as a Terra project can turn out to be a scam.

I know, DeFi is only a term and a tool to be used by scammers. There are scam projects on behalf of DeFi and there are good DeFi projects.

Quote

While the ecosystem is growing, everything is fine, and then the bubble bursts or manipulators help it burst. Use decentralized projects for trade and bridges: Uniswap, 1inch, etc.

Thank you for your recommendation. I know about Uniswap, Pancakeswap and 1inch.

Generally the finance behind DeFi is not sustainable and it is not only about 20% APR or lower. Nothing can grow forever without corrections and hiccups. There is fear and greed and if a flow of new users is decreased, capital inflow will fall and it is hard for DeFi projects to maintain their attractive interest.

It is not yet talking about bank-run. When fear is everywhere, nobody want to stake to get even 20% APR but the value of token itself will be divided by 5, 10 or more after one year.

If you use Uniswap, Pancakeswap and 1inch then check out these services, they are very useful for decentralized trading.
Cross-chain Bridge Aggregators
https://bitcointalksearch.org/topic/cross-chain-bridge-aggregators-5389259
For example, if I have 100,000 dollars, then I will not participate in staking. Maximum profit 20%, maximum loss 100% when smart contract is hacked. This is the wrong ratio of risk and reward.

SquirrelJulietGarden

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Quote from: zasad@ on June 15, 2022, 02:03:26 PM

DeFi projects are not only finance and staking. Any project that promises to earn 20% per annum in stablecoins from staking as a Terra project can turn out to be a scam.

I know, DeFi is only a term and a tool to be used by scammers. There are scam projects on behalf of DeFi and there are good DeFi projects.

Quote

While the ecosystem is growing, everything is fine, and then the bubble bursts or manipulators help it burst. Use decentralized projects for trade and bridges: Uniswap, 1inch, etc.

Thank you for your recommendation. I know about Uniswap, Pancakeswap and 1inch.

Generally the finance behind DeFi is not sustainable and it is not only about 20% APR or lower. Nothing can grow forever without corrections and hiccups. There is fear and greed and if a flow of new users is decreased, capital inflow will fall and it is hard for DeFi projects to maintain their attractive interest.

It is not yet talking about bank-run. When fear is everywhere, nobody want to stake to get even 20% APR but the value of token itself will be divided by 5, 10 or more after one year.

zasad@

legendary

Activity: 1876

Merit: 4532

Quote from: SquirrelJulietGarden on June 15, 2022, 11:29:44 AM

2 years and now DeFi projects are in liquidations from retail to institutional investors and even DeFi operators. Terra, Celsius, 3 Arrows Capital are early tips of bigger icebergs.

We will see many DeFi platforms end with bankruptcy, liquidation, whatsoever but endings for DeFi 2.0 is very bad. High yields and base on high leverages. When a first domino falls, a snowball effect and death spiral will continue.

DeFi projects are not only finance and staking. Any project that promises to earn 20% per annum in stablecoins from staking as a Terra project can turn out to be a scam. While the ecosystem is growing, everything is fine, and then the bubble bursts or manipulators help it burst. Use decentralized projects for trade and bridges: Uniswap, 1inch, etc.

SquirrelJulietGarden

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2 years and now DeFi projects are in liquidations from retail to institutional investors and even DeFi operators. Terra, Celsius, 3 Arrows Capital are early tips of bigger icebergs.

We will see many DeFi platforms end with bankruptcy, liquidation, whatsoever but endings for DeFi 2.0 is very bad. High yields and base on high leverages. When a first domino falls, a snowball effect and death spiral will continue.

RILWAN

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Global peace initiative

Defi is the latest craze in the cryptocurrency market so one needs to be careful to avoid being scammed by people creating tokens that become worthless in the future.

SquirrelJulietGarden

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DeFi scams [history]. 14 scam DeFi are reported but with 322 DeFi listed on coingecko and many scam DeFi are circulating on the market.

SquirrelJulietGarden

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I make the topic live again after a few months.

Many DeFi tokens are available on the market and newbies have to be careful with it. Many of DeFi projects are bad or scam projects.

304 DeFis: coingecko
109 DeFis: defilpulse

SquirrelJulietGarden

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Quote from: Mahanton on February 03, 2021, 06:43:41 PM

It would be great if OP is still aware nor make out some response on the thread he had created.So we would able to know if he do able to held up his position or he had already make out some panic sell decision.This is one of the opportunities that we can get nor gain if we do believe into something then we should really stand strong whatever things that would happen ahead.If he do able to withstand the market volatility then he's really up to 20x gain if he haven't still making some sell.
Honestly, I do miss out to invest in Sushi and some other DeFi projects because I do have the impressions that these are utter shit projects.

I don't invest in DeFi. I buy and sell quickly with 5 or 10% of profit. I don't obsess with 100%, 200% or 500% profit with DeFi tokens or with any crypto asset. It is greedy and risky. I want something safer and would prefer to control risks on my side if possible. To control risks, I have to control my minds and emotions then market orders.

SUSHI, I bought and sold it a few times but I see how you fear of SUSHI when developer pulled his key to sell tokens and caused drama. Sold, dumped and pumped it in few hours. Terrible.

Quote from: santiPOGI on February 04, 2021, 07:31:27 PM

Ever since I joined here in cryptocurrency business, I never buy any of the defi coins actually because most them are not good and mostly are good in promises who have group in the social media's. But of course, even in altcoins industry there was also scam projects that has been arise too. So, I suggest it is much better to invest in the cryptocurrency rather than Defi coins.

You can buy to invest or trade but it depends on your style of investment or trading. I often buy and sell based on price actions. I have no plan to invest in any DeFi.

Quote from: kapalmabur on February 03, 2021, 07:37:24 PM

When the trend was Defi, scammers sprang up, yes and many Defi projects were scam, if you look at the image you uploaded, it seems that there is no difference from the second image where the Defi project is running, whether I don't understand it or everyone who sees it is the same as mine think, determining the Defi project is difficult, for some reason I always fail to invest in Defi,

Scammers create new projects to steal money from new investors. They bring bright future, promises, polishing roadmaps but they are scammers. Some old masternode, stake projects swap their coins to ERC20 and create DeFi tokens to scam again. They try to scam more money with their dead projects.

santiPOGI

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Ever since I joined here in cryptocurrency business, I never buy any of the defi coins actually because most them are not good and mostly are good in promises who have group in the social media's. But of course, even in altcoins industry there was also scam projects that has been arise too. So, I suggest it is much better to invest in the cryptocurrency rather than Defi coins.

kapalmabur

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Activity: 2002

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When the trend was Defi, scammers sprang up, yes and many Defi projects were scam, if you look at the image you uploaded, it seems that there is no difference from the second image where the Defi project is running, whether I don't understand it or everyone who sees it is the same as mine think, determining the Defi project is difficult, for some reason I always fail to invest in Defi,

Mahanton

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Quote from: Cloverfield on February 03, 2021, 06:06:33 PM

Quote from: InwardContour on November 12, 2020, 01:24:55 PM

Quote from: SquirrelJulietGarden on September 05, 2020, 06:55:06 AM

Massacre on the market and potential DeFi tokens are bleeding most.

Sushi, Kimchi, Pizza ?

https://defimarketcap.io/token/0xc4da39e646e7f5d233b89ca0f7b75344e7ddb2cc
https://defimarketcap.io/token/0x8386e3e719612f1baaa91ccec46593056594656b

Anytime I see SUSHI, I feel sad because of the amount I lost investing long term in the token, hoping sushiswap is the next uniswap and at such SUSHI should do well in future. This is a lesson for all, do not invest so much in any altcoin for long term purpose, always take out capital when necessary and leave profit to run long term. I had the opportunity of making profit with my SUSHI investment, but left everything to run long term. DEFI trend is full of misleading hype, many developers are preying on investors while taking advantage of the DEFI trend.

I hope you kept your investment in SUSHI. The day you posted this was the day more or less it had botommed. You 20x from that point. It’s the Wild West out here and it can be a hell of a ride. Nothing is certain, but one thing.. Crypto is exciting and we’re living in exciting times! Green candles baby

It would be great if OP is still aware nor make out some response on the thread he had created.So we would able to know if he do able to held up his position or he had already
make out some panic sell decision.This is one of the opportunities that we can get nor gain if we do believe into something then we should really stand strong whatever things that
would happen ahead.If he do able to withstand the market volatility then he's really up to 20x gain if he haven't still making some sell.
Honestly, I do miss out to invest in Sushi and some other DeFi projects because I do have the impressions that these are utter shit projects.

Cloverfield

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Activity: 392

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Quote from: InwardContour on November 12, 2020, 01:24:55 PM

Quote from: SquirrelJulietGarden on September 05, 2020, 06:55:06 AM

Massacre on the market and potential DeFi tokens are bleeding most.

Sushi, Kimchi, Pizza ?

https://defimarketcap.io/token/0xc4da39e646e7f5d233b89ca0f7b75344e7ddb2cc
https://defimarketcap.io/token/0x8386e3e719612f1baaa91ccec46593056594656b

Anytime I see SUSHI, I feel sad because of the amount I lost investing long term in the token, hoping sushiswap is the next uniswap and at such SUSHI should do well in future. This is a lesson for all, do not invest so much in any altcoin for long term purpose, always take out capital when necessary and leave profit to run long term. I had the opportunity of making profit with my SUSHI investment, but left everything to run long term. DEFI trend is full of misleading hype, many developers are preying on investors while taking advantage of the DEFI trend.

I hope you kept your investment in SUSHI. The day you posted this was the day more or less it had botommed. You 20x from that point. It’s the Wild West out here and it can be a hell of a ride. Nothing is certain, but one thing.. Crypto is exciting and we’re living in exciting times! Green candles baby

InwardContour

sr. member

Activity: 644

Merit: 260

Quote from: SquirrelJulietGarden on September 05, 2020, 06:55:06 AM

Massacre on the market and potential DeFi tokens are bleeding most.

Sushi, Kimchi, Pizza ?

https://defimarketcap.io/token/0xc4da39e646e7f5d233b89ca0f7b75344e7ddb2cc
https://defimarketcap.io/token/0x8386e3e719612f1baaa91ccec46593056594656b

Anytime I see SUSHI, I feel sad because of the amount I lost investing long term in the token, hoping sushiswap is the next uniswap and at such SUSHI should do well in future. This is a lesson for all, do not invest so much in any altcoin for long term purpose, always take out capital when necessary and leave profit to run long term. I had the opportunity of making profit with my SUSHI investment, but left everything to run long term. DEFI trend is full of misleading hype, many developers are preying on investors while taking advantage of the DEFI trend.

so_stupid

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Bitgesell (BGL) Decentralized Cryptocurrency!

Quote from: SquirrelJulietGarden on November 12, 2020, 09:39:32 AM

Scam DeFi season is over and the market is on bitcoin season. Grin

bitcoin season will revive defi season accordingly Cheesy

Has anyone ever seen one completed project? Cheesy

OasisDre

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The first red flag from majority of these DeFi scam projects are their farming returns, you can make over 500% from a scam yield farming project, how do you think this is real ? Greedy investors are the ones falling hard for such cheap tricks honestly, no real POS coin gives more than 15% ROI per annual but DeFi projects want to give insane profits to investors

Winscosinally

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Quote from: LogitechMouse on October 08, 2020, 05:04:23 AM

Quote from: Reid on September 12, 2020, 11:39:19 AM

DeFi #1
ICO now at #2

This just shows that "History repeats itself" Cheesy

. The famous quote in crypto especially in Bitcoin.
The DeFi hype that we are experiencing right now is the same as the ICO hype back in 2017.
Many DeFi projects will stay but most of them will end up being a deadcoin, a shitcoin or a scam coin. Either way, I will avoid investing into them at all costs.

Quote from: Reid on September 12, 2020, 11:39:19 AM

It just proves something, IMO.
Stay with the oldies. Bitcoin, Ethereum, Litecoin. Stop the instant profit idea and just support the trustworthy.

This is why I don't invest into new projects. I like to invest into old coins like the ones you just said. Trust over profit works for me. Sad for those who got scammed or incur some losses investing into these DeFi projects.

New projects are not to be blame here because not all new projects are scam, the problem is some people can't do research on projects before investing, they are so lazy and yet they want to make money, scammers are into crypto for sure but research is the only way to escape their grave traps

Winscosinally

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I've tried to warn many offline and online about DeFi projects that have nothing new to offer than Farming and Pools, they are scam and pump and dump projects, it's 100% more easier to create a ERC20 tokens today just like how you can create a random readymade website, let's be careful and learn before investing on crypto projects

SquirrelJulietGarden

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Scam DeFi season is over and the market is on bitcoin season. Grin

casperBGD

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Nil Satis Nisi Optimum

Quote from: LogitechMouse on October 08, 2020, 05:04:23 AM

Quote from: Reid on September 12, 2020, 11:39:19 AM

It just proves something, IMO.
Stay with the oldies. Bitcoin, Ethereum, Litecoin. Stop the instant profit idea and just support the trustworthy.

This is why I don't invest into new projects. I like to invest into old coins like the ones you just said. Trust over profit works for me. Sad for those who got scammed or incur some losses investing into these DeFi projects.

i do not agree, everyone has his view regarding investment and goals are defined based on that
staying with LTC would not bring much, IMO, and than maybe it is better to stay out of crypto as well

i do not recommend investing in DeFi, especially if you do not know what it is about, but there are some really unique DeFi projects, worth of investment, and as always there is a lot of scam involved, make your due diligence, risk reward ratio calculations, analysis and then head to investment, without that it is better to stay away, than to stay with some top known altcoins, that could stay where they are for years, without any development

LogitechMouse

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Need A Campaign Manager? | Contact Little_Mouse

Quote from: Reid on September 12, 2020, 11:39:19 AM

DeFi #1
ICO now at #2

This just shows that "History repeats itself" Cheesy

. The famous quote in crypto especially in Bitcoin.
The DeFi hype that we are experiencing right now is the same as the ICO hype back in 2017.
Many DeFi projects will stay but most of them will end up being a deadcoin, a shitcoin or a scam coin. Either way, I will avoid investing into them at all costs.

Quote from: Reid on September 12, 2020, 11:39:19 AM

It just proves something, IMO.
Stay with the oldies. Bitcoin, Ethereum, Litecoin. Stop the instant profit idea and just support the trustworthy.

This is why I don't invest into new projects. I like to invest into old coins like the ones you just said. Trust over profit works for me. Sad for those who got scammed or incur some losses investing into these DeFi projects.

Topic: Define the (scam) DeFi. (Read 1016 times)