Topic: Is DeFi anything? (Read 487 times)
Just wondering... Can an entity who holds a huge bag of, say, ETH use that bag to generate a ton of USD stablecoin from some Defi and pump ETH with those same generated stablecoins?
DeFi is one of the greatest functionalities of Blockchain.
Most of the projects are built on the ethereum blockchain - and this is what it makes ethereum competitive.
DeFi projects are going to have an increase in the value as it will be the starters of the mass adoption trend.
Most of the projects are built on the ethereum blockchain - and this is what it makes ethereum competitive.
DeFi projects are going to have an increase in the value as it will be the starters of the mass adoption trend.
DeFi is one of the greatest functionalities of Blockchain.
Most of the projects are built on the ethereum blockchain - and this is what it makes ethereum competitive.
DeFi projects are going to have an increase in the value as it will be the starters of the mass adoption trend.
Most of the projects are built on the ethereum blockchain - and this is what it makes ethereum competitive.
DeFi projects are going to have an increase in the value as it will be the starters of the mass adoption trend.
Erm, are you reading anything above? Projects are getting hacked and drained of all funds. Who the fuck would mass adopt that?
If they want it to take off it needs to have been 100% bulletproof from top to bottom for many years. Instead we get this. No one other than crypto propellerheads will ever go anywhere near it.
DeFi is one of the greatest functionalities of Blockchain.
Most of the projects are built on the ethereum blockchain - and this is what it makes ethereum competitive.
DeFi projects are going to have an increase in the value as it will be the starters of the mass adoption trend.
Most of the projects are built on the ethereum blockchain - and this is what it makes ethereum competitive.
DeFi projects are going to have an increase in the value as it will be the starters of the mass adoption trend.
@exstasie. Defects might be wrong to say, however, would you say that Solidity is a bad smart contract language that was shown to be not appropriate for creating dapps?
@exstasie. There was also the parity bug where a developer accidentally froze more than 500k coins in an Ethereum smart contract.
Are those bugs there because of defects on Solidity the platforms programming language?
Are those bugs there because of defects on Solidity the platforms programming language?
Not defects per se, but Solidity probably allows too much functionality given the sloppiness with which contracts are historically coded. It's very easy to overlook critical vulnerabilities. The DAO exploit and Parity bug were both examples of sloppy code.
Bitcoin's Miniscript, in contrast, offers much less functionality but also has a much smaller attack surface. https://www.coindesk.com/pieter-wuille-unveils-miniscript-a-new-smart-contract-language-for-bitcoin
@exstasie. There was also the parity bug where a developer accidentally froze more than 500k coins in an Ethereum smart contract.
Are those bugs there because of defects on Solidity the platforms programming language?
Are those bugs there because of defects on Solidity the platforms programming language?
https://twitter.com/DoveyWan/status/1251772447176536064
https://twitter.com/WhalePanda/status/1251786346282262528
A $25 million hack of summat named Dforce's defi funds.
I think it's well and truly time to stick a fork in this idea for all eternity myself. The safety simply isn't there.
https://twitter.com/WhalePanda/status/1251786346282262528
A $25 million hack of summat named Dforce's defi funds.
I think it's well and truly time to stick a fork in this idea for all eternity myself. The safety simply isn't there.
The entire Ethereum ecosystem has been an ongoing dumpster fire for years, ever since the DAO exploit. It's a never ending story of investors dumping hundreds of millions of $ into extremely risky and untested platforms, and then losing it.
But you know what? I'm pretty confident people are going to keep shoveling their money in. As irrational as it seems, I can still feel lots of hype bubbling underneath. Markets love to stay irrational. Assuming BTC recovers nicely into year end, I also expect Ethereum's anticipated transition to POS to amplify overall hype in the space.
@gentlemand. Also this news. dForce copied Compound's code hehehhe. It is paywalled, however. Does anyone have a theblockcrypto subscription? Kindly share the full article. Thank you.
VC-backed Compound is alleging that a fast-growing DeFi startup stole its code. The dispute raises questions about what 'open-source' actually means
A DeFi startup in China called dForce has seen notable growth in its lending protocol over the past two months.
VC-backed Compound says the company stole its copyrighted code – an assertion that appears to be supported by information on GitHub
The dispute highlights what “open-source” means in practice for technology firms.
Source https://www.theblockcrypto.com/daily/54389/vc-backed-compound-is-alleging-that-a-fast-growing-defi-startup-stole-its-code-the-dispute-raises-questions-about-what-open-source-actually-means
VC-backed Compound is alleging that a fast-growing DeFi startup stole its code. The dispute raises questions about what 'open-source' actually means
A DeFi startup in China called dForce has seen notable growth in its lending protocol over the past two months.
VC-backed Compound says the company stole its copyrighted code – an assertion that appears to be supported by information on GitHub
The dispute highlights what “open-source” means in practice for technology firms.
Source https://www.theblockcrypto.com/daily/54389/vc-backed-compound-is-alleging-that-a-fast-growing-defi-startup-stole-its-code-the-dispute-raises-questions-about-what-open-source-actually-means
https://twitter.com/DoveyWan/status/1251772447176536064
https://twitter.com/WhalePanda/status/1251786346282262528
A $25 million hack of summat named Dforce's defi funds.
I think it's well and truly time to stick a fork in this idea for all eternity myself. The safety simply isn't there.
https://twitter.com/WhalePanda/status/1251786346282262528
A $25 million hack of summat named Dforce's defi funds.
I think it's well and truly time to stick a fork in this idea for all eternity myself. The safety simply isn't there.
https://medium.com/nexus-mutual/black-thursday-claims-3d9e74356992
Nexus Mutual, a 'decentralised alternative to insurance', has agreed to $786 in compensation for 'black Thursday' claims when it all fucked up.
That's great.
However $2,218,270 was turned down.
Sod this garbage.
Nexus Mutual, a 'decentralised alternative to insurance', has agreed to $786 in compensation for 'black Thursday' claims when it all fucked up.
That's great.
However $2,218,270 was turned down.
Sod this garbage.
The whales are selling and the retails traders are buying! I think the dump was pre-plan by group of whales and some of them are still watching the market on the best price to come in again. I will say it is a game of manipulations.
I'm not into ethereum, but I like their utility projects, which aims for decentralization of finance.
Its unfortunate that bitcoin failed its purpose as a safe haven against financial crisis in the fiat system. The DeFi sector was nearly destroyed in the recent plunge, according to this article: https://www.longhash.com/en/news/3287/How-High-Leverage-in-the-Crypto-Market-Crashed-Bitcoin-to-
Its unfortunate that bitcoin failed its purpose as a safe haven against financial crisis in the fiat system. The DeFi sector was nearly destroyed in the recent plunge, according to this article: https://www.longhash.com/en/news/3287/How-High-Leverage-in-the-Crypto-Market-Crashed-Bitcoin-to-
Quote
“The entire DeFi ecosystem almost died today. Several large market participants went bust. Many traders literally could not get money to the exchanges fast enough to trade due to blockchain congestion & the extreme volatility was then made worse,” added Jain.
https://twitter.com/lopp/status/1240251570064949250
That pretty much says it all. The problem with many things, and especially ETH and similar contraptions, is that there is ALWAYS an unforeseen circumstance and ALWAYS someone present at the right moment to exploit it.
This is an area I'm going to leave to others to iron out for many, many years before taking the plunge.
With people looking into ways to exploit DeFi systems, it's going to be hard to fully trust decentralized products. The recent contract manipulation on bzx could as well be a sing that not even DeFi systems are fool proof. But I do wish they had used a several oracles to determine the true point of reference. Hopefully they will consider such platforms as Chainlink for future oracles.
From the look of things, it will be a profitable sector for investors and traders during the next altcoin/token bubble. That's my primary interest.
Correct, this is one hype, similar to the ICO craze of 2017, during the bull-run.
So we might hear about this whole Defi ecosystem once the market started on another bull-run. I'm still looking at it today, and it really seems to be profitable for investors who have huge capital to begin with.
But for average joe's like us, bitcoin is still the best alternative, I mean it is the only defi before we ever heard "defi".
Defi projects help people do hodl longer.
That is, even being close to the peak and feeling that another altcoin will obviously begin to grow in price, we can not sell the main asset, but just take on the security of this cryptocurrency - stablecoins. And then get a higher profit. De-Fi projects can be used as a small leverage (with a ratio of up to 2). Something like this I see the math of such projects.
But purely theoretically there can be risk-free profitable DeFi (It sounds absurd, but I already have a model that works on this principle (this is not a pyramid, not mlm, but simply the result of mental gymnastics)).
From the look of things, it will be a profitable sector for investors and traders during the next altcoin/token bubble. That's my primary interest.
Correct, this is one hype, similar to the ICO craze of 2017, during the bull-run.
So we might hear about this whole Defi ecosystem once the market started on another bull-run. I'm still looking at it today, and it really seems to be profitable for investors who have huge capital to begin with.
But for average joe's like us, bitcoin is still the best alternative, I mean it is the only defi before we ever heard "defi".
https://twitter.com/kermankohli/status/1228817561220812800?s=20
Defi is scammy nonsense riddled with holes.
Instead, buy and hold bitcoin. Simples.
https://www.trustnodes.com/2020/02/15/hacker-makes-360000-eth-from-a-flash-loan-single-transaction-involving-fulcrum-compound-dydx-and-uniswap
Quote
How to make $350,000 USD in 15 seconds.
Defi is scammy nonsense riddled with holes.
Instead, buy and hold bitcoin. Simples.
https://www.trustnodes.com/2020/02/15/hacker-makes-360000-eth-from-a-flash-loan-single-transaction-involving-fulcrum-compound-dydx-and-uniswap
I am not sure what you see in this project that you called promising.
yes today it has increase 174% but that is due to very small volume, per https://coinmarketcap.com/currencies/defi/, its volume is less than a dollar.
What kind of project would grow with that?
yes today it has increase 174% but that is due to very small volume, per https://coinmarketcap.com/currencies/defi/, its volume is less than a dollar.
What kind of project would grow with that?
I think OP is referring to DeFi which is an abbreviation for Decentralized Finance which is a promising sector utilizing the power of blockchain technology, and the one you've mentioned is a coin with an inaccessible website and last Github activity was on June 2019.
Sorry, l my bad, I misunderstood it, maybe OP should also put more information like a link so people like me will not be mislead,
.. I was really thinking this was an altcoin project. 
The way I see it they are trying to port all banking tricks&scams like leveraging, interest, futures, options etc etc into one place.
Like Baofeng said Bitcoin is the only defi. You either have bitcoin, or you don't. Defi is the same thing in the end but you know these bankster scum they make the simplest thing incredibly complex so you feel dumb and make mistakes. They make their money from your mistakes. Why do you think there are shitton of shitcoin shills out there? Their aim is similar, they are trying to fool and scam you.
Like Baofeng said Bitcoin is the only defi. You either have bitcoin, or you don't. Defi is the same thing in the end but you know these bankster scum they make the simplest thing incredibly complex so you feel dumb and make mistakes. They make their money from your mistakes. Why do you think there are shitton of shitcoin shills out there? Their aim is similar, they are trying to fool and scam you.
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