Is DeFi hype the same as ICO hype in 2017?

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: reza7777 on September 04, 2020, 03:34:51 PM

Yes, in my opinion Defi is exactly the same as the ICO hype in 2017, it is clear that the current incident is that many Defi pumps are very unreasonable and see now, some Defi have experienced a very large decline, of course this has made a lot of people lose their money, only need to be careful with Defi hype

It is similar but at the same time it is not, it is similar in the way that this is a bubble and like all bubbles this will burst, we have already seen a little bit of that, the market is refusing to acknowledge the bubble has ended but to me it seems inevitable that we are going to see an even larger crash during the next weeks coming from those projects.

However at the same time I think this time is different people, back then thought that icos and altcoins will change the world in a relatively short amount of time, this is why the market was so huge and grew so quickly but this time I do not see that kind of excitement most of the money being invested in those coins has the only purpose of making the investor rich which means there was no way for this bubble to reach the same proportions as the one we saw in 2017.

reza7777

sr. member

Activity: 1414

Merit: 255

Yes, in my opinion Defi is exactly the same as the ICO hype in 2017, it is clear that the current incident is that many Defi pumps are very unreasonable and see now, some Defi have experienced a very large decline, of course this has made a lot of people lose their money, only need to be careful with Defi hype

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: LouVandetta on September 02, 2020, 06:24:20 AM

It could be the same, following just a few successful projects now the hype is no joke. Almost everywhere you look at new projects, it's not that far from DeFi. Because it's the trend as of now. But will it also ends just like how ICO used to be back then? Sooner or later there will be another new type of tech on the future projects. Just like how there were a lot of scammed ICOs, we still cannot assume that DeFis might have the same path. I'm actually pretty interested on them, still I need more research, it's okay even if I were left behind the hype trend but at least I need to come prepared.

I think it is a pretty solid prediction that DeFi projects are going to follow the very same trajectory that ico projects did in the past, why you may ask? And that is because scammers are very smart and they are going to realize that this is the opportunity that a having waiting for to make a lot of money in a short amount of time and they're going to take advantage of it.

And as such they are going to release a bunch of useless projects just as they always do and naive people are going to invest in those projects just as they always do as well, for a short amount of time this is going to benefit the market until the market crashes and all of those people lose their money due to their greed.

electronicash

legendary

Activity: 3234

Merit: 1055

its almost similar because the ICO drive the price up. this time defi also drive the price up by grabbing more ETH from investors. when you use ETH to collateralize, these ETH going into the platform and you hold a defi token that is unsure whether its protocol could really help you profit.

when ETH goes up, your defi tokens wouldn't rise up proportionate to the platform's ratio. anyone who participated on defi must have realize it so its time to dump!

kaseygriffin

full member

Activity: 785

Merit: 105

Quote from: popeye95 on September 03, 2020, 01:37:30 PM

Yes, there is clearly a strong hype behind DeFi similar to the ICO hype back in the days, 2017. I can't say anything right now since the market also quite weird with covid and few recoveries here and there but defenily, DeFi project still need more time to prove its worth to the crypto world.

In 2017, investors will participate in all new projects without studying it. But now investors are more careful and only participate in the best projects, which is why we have so few Defi projects in this market.

lizarder

hero member

Activity: 1722

Merit: 895

Quote from: popeye95 on September 03, 2020, 01:37:30 PM

Yes, there is clearly a strong hype behind DeFi similar to the ICO hype back in the days, 2017. I can't say anything right now since the market also quite weird with covid and few recoveries here and there but defenily, DeFi project still need more time to prove its worth to the crypto world.

I think DeFi has proven its value to cyrpto world because based on Locked Value USD, the estimate has reached $9B USD and that is an insane value for crypto world, but I don't know if in the future the Locked Value will be able to break the $10B or more, it can also be down from $ 9B USD to $5B USD perhaps, but I hope the Locked Value will continue to rise

popeye95

full member

Activity: 398

Merit: 100

Yes, there is clearly a strong hype behind DeFi similar to the ICO hype back in the days, 2017. I can't say anything right now since the market also quite weird with covid and few recoveries here and there but defenily, DeFi project still need more time to prove its worth to the crypto world.

lxiaoh

full member

Activity: 533

Merit: 100

May be, i hope this hype are strong enough to bring back that crazy bull. Frankly speaking, Defi hype cannot compare to ICO hype now, ICO was fantastic and crazy in 2017, at that time, if you could success to participate in an ICO subscription, it means you would make a lot of money from it.

bayu7adi

hero member

Activity: 1470

Merit: 558

dont be greedy

Of course, every new thing that appears in the digital world will be replaced with newer things that appear in the future. This is like skin regeneration in a snake, which will always replace old skin with new skin with more beautiful scales.

DeFi has had a pretty high hype recently, there was even a coin called YFI yatu yearn.finance managed to give birth to a good record, as a baby coin that experienced a price increase of more than 700% within 1 month. Due to this incident, the hype for the DeFi coin became even higher than usual. Everyone is more interested in things that smell like money, than in science.

And this habit should start to be eroded. I don't mean to eradicate the existence of the DeFi project, but what I mean here is to erode the existence of a very hype thinking with money without math.
Remember, that something that goes up fast, will go down quickly.

plr

member

Activity: 1162

Merit: 24

Quote from: BestEarningTips on August 29, 2020, 10:29:19 AM

I believe in blockchain technology, decentralization and decentralized applications and finance, but I'm extremely cautious about any hype, because when a hype runs out, some projects will close instantly and it's impossible to guess in advance whether you chose the right one. What do you think about DeFi? DApps are already proven themselves, will DeFi prove themselves too? Share your thoughts below

These Defi is starting new in the Cryptocurrency ecology so far people are adopting supporting and investing in these DeFi based token it's obvious because of the traffic they brought in the Ethereum network, we'll see if these online banking will bring fruit or people will find a flaw to the system but so far they are doing great.

bitcoindusts

sr. member

Activity: 1092

Merit: 271

Quote from: totoy4741 on September 03, 2020, 09:20:59 AM

Quote from: Sulman326 on August 29, 2020, 10:32:25 AM

Yes, Defi if the new crypto hype, we need to be careful, will not take so long to the first Defi scam project appears, like happened with the Icos, it's just a question of time to something bad shows up in this Defi scenario.

Agree, and actually there is defi project has already been accused of scam and that is Yam Defi, that went from $15k as its peaked and eventually turned out be a scam the following days, and there is another one Defi that seems to be in the boat as Yam, and that is Hotdog, from $4k down to $1.

It is indeed a hype. Same as the IPO, ITO, ICO, and IEO. Each period have its trending stuff that is overly hyped. And now it is DeFi. But I think, DeFi had been around for some years, it is just now that it took attention and became a hype.

Quote from: dataispower on September 03, 2020, 09:18:11 AM

Well, I doubt if it's a bubble that will burst soon because some DEFI projects are doing really great with development, hence we shouldn't generalize all DEFI projects.

A sudden surge in price in a small duration of time can be considered as a bubble and YFI market is exactly match that discription.

totoy4741

member

Activity: 882

Merit: 13

Quote from: Sulman326 on August 29, 2020, 10:32:25 AM

Yes, Defi if the new crypto hype, we need to be careful, will not take so long to the first Defi scam project appears, like happened with the Icos, it's just a question of time to something bad shows up in this Defi scenario.

Agree, and actually there is defi project has already been accused of scam and that is Yam Defi, that went from $15k as its peaked and eventually turned out be a scam the following days, and there is another one Defi that seems to be in the boat as Yam, and that is Hotdog, from $4k down to $1.

dataispower

sr. member

Activity: 1330

Merit: 289

The 2017 ICO hype is somewhat similar with the current DEFI hype/craze. Most new projects now are in DEFI category, old projects are going DEFI and even exchanges list DEFI projects more than they do for other projects just to get more traffic. Especially now that YFI is successful, all new projects want to add YF or finance to their name and also use similar concept as YFI. Well, I doubt if it's a bubble that will burst soon because some DEFI projects are doing really great with development, hence we shouldn't generalize all DEFI projects.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Such a profit, which is now shown by DeFi projects, could be found in a small number of ICOS in 2017. Such a profit of 1,500,000% that Curve Finance showed us in such a short period of time, I do not remember any ICO in 2017. And there are a lot of such projects now, and the investor has a real opportunity to increase their investment.

Think Crypto

newbie

Activity: 7

Merit: 0

yeah, project Defi and ico in 2017 is almost the same today many Defi project that generates a lot of profit, but all can be temporary, not being able to walk in a long time is probably just hype will last 1-2 years all Defi program will have flaws and its advantage if the bitcoin prices down will affect the price of coins Defi I would not be surprised if the project Defi will be short enough hype.

AqibSarwar

newbie

Activity: 4

Merit: 0

Sure, we have good DeFi project, but there is still high risks. For example, yEarn Finance token YFI already worth 19 130$, higher than bitcoin. The coin was issued on July 18, 2020 and started with $35. A month later, on August 18, its price had already reached $12,800, overtaking bitcoin. Today, the token has reached a price peak in the area above $19,000. In a month and a half, YFI rose by 50,000%. A coin that is only a month old is already so incredibly expensive, I could certainly be wrong, but this is the last coin I would invest in, too loud to call it a bubble, but it can't be anything else. Such a young project simply physically can't create such a real value in such a short period of time, this price is conditioned by faith in further growth, not by project development.

Kong Hey Pakboy

member

Activity: 1120

Merit: 68

Quote from: BeginToMine on September 02, 2020, 05:07:42 PM

Currently Defi projects are doing greatly but I still see no reason to equate both. Doing ICO period it it well and later disappointed everyone. Defi us here and currently doing well and may also do so as scammers are all over the place searching for people to scam. Let's understand this and get it that comparing part and present can't help out because there's trace of scam in both from scammers.

DeFi projects definitely much different from the ICO hype in 2017 because not all ICO projects are not good for an investment. Unlike DeFi projects they are still in a bull run and they doing great the market. But both DeFi and ICO projects has the same huge numbers of scam or fraud schemes, that is why it is better to watch out on where you invest your money.

BeginToMine

full member

Activity: 434

Merit: 101

https://www.payaccept.net/

Currently Defi projects are doing greatly but I still see no reason to equate both. Doing ICO period it it well and later disappointed everyone. Defi us here and currently doing well and may also do so as scammers are all over the place searching for people to scam. Let's understand this and get it that comparing part and present can't help out because there's trace of scam in both from scammers.

pandanaran

full member

Activity: 1048

Merit: 101

yes, I think the current Defi project is almost the same as the ICO project in 2017. but I will not say that some Defi Top projects will always be profitable for investment. As we all know that any form of fundraising project carries a risk of SCAMS, especially when Defi is still new. even I personally don't dare to invest money in the Defi project.

bluebit25

sr. member

Activity: 1708

Merit: 295

https://bitlist.co

I participated in many ICOs in 2017, and now I also invest in many Defi projects. Basically they are exactly the same and get the big hype, but they still differ because the investors know how to recognize scam projects so only the best projects are there can be successful in this market

Topic: Is DeFi hype the same as ICO hype in 2017? (Read 640 times)