Topic: Is the crypto community getting lost again? - page 2. (Read 506 times)
I think it's not the crypto industry that is getting it wrong rather it's some set of people who are hiding the current trend to ensure that they fill their wallets even if it's by outright manipulation and they are being helped by individuals who are aware of the technicalities of the market but they are too greedy to make a position and the lots of newbies coming into the market looking to make some quick bucks but hey quite a number are going to gets their fingers burnt in no distance time especially for projects that have absolutely no leg to stand upon.
YUNO Finance, yfrocket, gum finance and I can name them all that have ran away with people funds within few days of launching. Many people don't even take into consideration the basic principles of identifying a genuine project. Once Y or DeFi is mentioned in the description, people rush in with full force thinking every Y will perform like YFI and YFII. The crypto community is losing it. We are definitely heading to the wrong direction and the end product won't be nice.
not only got lost, but many investors have joined the DEFI project at this time. I am worried that if they are new investors, have no knowledge and have not done any previous research on the DEFI project, then they could easily lose their money. because stuck with Fomo defi.
What do you mean by "crypto community getting lost again?" This is nothing new when every day, there is always some new bullcrap chunk out and some people are gullible enough. They invest in it without any proper research or blind by the green of increasing and lost their money. The Yield Farming projects is just one in many of other crap we have to put through as watching other people lost their money easily like that. Well, it was their money after all so I don't really care about if they lost it by investing in stupid things like Yield Farming projects and its naming sense is horrible.
It's easy to get lost when you see a lot green candles from these DeFi and Yield Farming tokens if you're a new player. Those investors who experienced the 2018 crash would have matured by now but that's not what the charts is telling me right now. Maybe they are also taking advantage of the ignorance of newbies.
Be safe. Don't go all in. I believe there are far more safer cryptocurrencies to play with other than these new projects popping up like mushrooms
I understand where you are coming from we have seen the big bust of 2018 and it looks like it's happening again, people are in FOMO without doing enough research on what they are getting into and this bad for the whole community, after this we will a see as lot of blaming and should have been alibis, at least we have warn them and great you have that analysis, now it's their call.
This is what I often discuss where there is a mafia in it to take money from beginners, they should have learned from before in 2018 where bad token prices fell at that time and hurt many investors, I think this kind of thread needs to be reproduced, at least it helps lots of people don't want to get lost and be tempted by the quick benefits of a new project that doesn't have a clear team
it happen again now, recently i see in twitter that mentioned uniswap project HOTDOG and PIZZA drop sharply to below $0,xx . its very sad when didnt consider scammer will took our money again by doing any way. quick benefits or profits instant like in few new project actually have high risk that may occur anytime to us. we have to avoid this way, better get profit smoothly but will surive for long time and have les risk.The level of madness on these Yield Farming projects is off the charts. These tokens sell like hotcakes even if they recently launched with some red flags. Is the community going in the right direction?
For example, we have two tokens namely Sushiswap and Kimchifinance.
If you look at their websites, both projects have anonymous team.
It looks like Kimchiswap doesn't even have their own domain yet lol.
- https://sushiswap.org/
- https://kimchifinance.firebaseapp.com/
Their smart contract were not audited before launching just like what happened to YAM.
- https://twitter.com/kimchi_finance/status/1300821471493726208
- https://twitter.com/NomiChef/status/1299443378396962817
[Sushiswap was later audited by Quantstamp]
It's easy to get lost when you see a lot green candles from these DeFi and Yield Farming tokens if you're a new player. Those investors who experienced the 2018 crash would have matured by now but that's not what the charts is telling me right now. Maybe they are also taking advantage of the ignorance of newbies.
Be safe. Don't go all in. I believe there are far more safer cryptocurrencies to play with other than these new projects popping up like mushrooms
You have mentioned just 2 projects but there are dozens and many lack even website or whitepaper.For example, we have two tokens namely Sushiswap and Kimchifinance.
If you look at their websites, both projects have anonymous team.
It looks like Kimchiswap doesn't even have their own domain yet lol.
- https://sushiswap.org/
- https://kimchifinance.firebaseapp.com/
Their smart contract were not audited before launching just like what happened to YAM.
- https://twitter.com/kimchi_finance/status/1300821471493726208
- https://twitter.com/NomiChef/status/1299443378396962817
[Sushiswap was later audited by Quantstamp]
It's easy to get lost when you see a lot green candles from these DeFi and Yield Farming tokens if you're a new player. Those investors who experienced the 2018 crash would have matured by now but that's not what the charts is telling me right now. Maybe they are also taking advantage of the ignorance of newbies.
Be safe. Don't go all in. I believe there are far more safer cryptocurrencies to play with other than these new projects popping up like mushrooms
Would you believe that there was a project named hotdog and it pumped to 4k and now has dumped badly, this defi craze will make people lose big money and unfortunately some people will learn the hard way.
I mean when has it not been lost. The start of BTC is creating this coin for a different purpose but it became known for something that is not that. Let it be lost. It has always been like that.
But life has returned to the crypto world, it is clear that nothing good will come of it, but it is better than when there was no life at all.
I have a feeling that sushiswap project is just a ponzi scheme project and will bring huge loss on community.
In the past, i remember TRONLAND project which is almost same with typical ponzi scheme and they were stopping withdrawal at the end.
Crypto community shouldn't trust a new project easily, even if the project has high market cap value.
In the past, i remember TRONLAND project which is almost same with typical ponzi scheme and they were stopping withdrawal at the end.
Crypto community shouldn't trust a new project easily, even if the project has high market cap value.
This is what I often discuss where there is a mafia in it to take money from beginners, they should have learned from before in 2018 where bad token prices fell at that time and hurt many investors, I think this kind of thread needs to be reproduced, at least it helps lots of people don't want to get lost and be tempted by the quick benefits of a new project that doesn't have a clear team
....
that tweet was accusing both yuno and kimchi but if you visited the yuno's tweet here https://twitter.com/YUNoFinance/status/1300875368455311360 you'll see that if even those scammers were accusing each other.
Cut from the same cloth hehe. that tweet was accusing both yuno and kimchi but if you visited the yuno's tweet here https://twitter.com/YUNoFinance/status/1300875368455311360 you'll see that if even those scammers were accusing each other.
At least Kimchi didn't claim that Kimchi is the real Yuno
......
Is it up to community to decide where the market will lead tomorrow? Probably, but not totally.
Demand and supply is a two way road, so its not all about users and their choices.
It's totally on the community. If nobody buys into these types of projects, it will die instantly. Bitcoin survived through the years of high volatility, negative publicity, and government sanctions because the community keeps supporting it from the early days until today.Is it up to community to decide where the market will lead tomorrow? Probably, but not totally.
Demand and supply is a two way road, so its not all about users and their choices.
If projects like Kimchi, Sushi, or Yuno will be supported continously, you can expect more of this yield farming tokens to come out every single day. If we stop buying or investing, they'll go away.
Do you think any of those developers during the ICO stage are back at it again with these new projects?
I don't know who they are but it's a possibility. People are pouring money into these projects with anonymous teams so they might as well do it over again. Easy money for them if they know how to code and to shill to noobs and greedy veterans. 
I'm not buying all these DeFi crap projects that are nothing but Ponzi schemes, they came out of nowhere and they have insane value, I only pity those investors that have no clue about what they are doing or what they are into.
Do not pity those who are able to play the game of these new DeFi projects, I have seen some good earners in telegram of those who managed to buy and sell some of this DeFi, they probably know how to monitor or analyze the charts. If they gain profit then it's good for them and if they bought only due to hype and not monitors it or cut loss when the price is dumping then it can be a lesson for them in the next time to not be only ruled by hype but be knowledgeable next time. 
I'm not buying all these DeFi crap projects that are nothing but Ponzi schemes, they came out of nowhere and they have insane value, I only pity those investors that have no clue about what they are doing or what they are into.
Some people are following the new trend and hype and the only important thing for them is to earn and take advantage it but unfortunately its not what supposed to happen. We should learn our lesson from our past experiences but it seems some of us didnt learn at all. Though new projects are promising there's always a risk of it being scam so i'd rather stay with defi projects. Even I have seen a lot of people on the twitter and in many facebook groups claiming they made a fortune by investing in shitty DeFi projects and are also encouraging other users who aren't even speculators to invest in the little known DeFi projects [...]
Good for you, you are not getting deceived easily pruced by this hype. But for the others, well I guess wr can no longer save them. Some people are hard headed. You know! They continue to invest as long as they can see someone earning and no longer consider the bad reviews. Hmm, I guess we have a no choice but to let them learn the hard way. Let their money lose (I just hope it's not that big) and they surely become wiser afterwards. Even trading seems better task than investing in these DeFi projects.
For me, it is the best 
. 
I don't think the crypto community is getting lost again, but I am worried the new people who joined in the crypto world will get the biggest loss since they don't know much about how the crypto play. They can get attracted to the defi trend while they don't follow from the beginning, and that can make them invest in the defi project without knowing if that project can survive for a long time.
The defi project will end soon, and it will replace the other new project and the new trend. So before this trend ends, we need to take as much profit as possible, and then we can leave it and not come back if it does not give us more profit.
The defi project will end soon, and it will replace the other new project and the new trend. So before this trend ends, we need to take as much profit as possible, and then we can leave it and not come back if it does not give us more profit.
I agree with you, the crypto community is rising again. As long as the prices in crypto currencies are going up I would not say that the community is getting lost again. Also looking on the forum we see a lot of new people signing up with interest into cryptos. As long as new people come into the community and old people still are active we are doing good. It is on all of to make the community bigger.
I'm not buying all these DeFi crap projects that are nothing but Ponzi schemes, they came out of nowhere and they have insane value, I only pity those investors that have no clue about what they are doing or what they are into.
Where there's is larger attention, scammers and ponzi projects just flocks in. Defi is certainly not a new and world changing technology. The current hype over defi and it's tokens are a recipe for another disaster. Defi are meant to be an efficient low cost low profit generating platform thats efficient and friendly to users. They won't be bringing in insane amount of profit as the total users of Defi and cryptos are still insignificant. I'd recommend anyone to just ignore the current price movements on Defi coins and wait till the market settles for some clear winners.
I don't think the crypto community is getting lost again, but I am worried the new people who joined in the crypto world will get the biggest loss since they don't know much about how the crypto play. They can get attracted to the defi trend while they don't follow from the beginning, and that can make them invest in the defi project without knowing if that project can survive for a long time.
The defi project will end soon, and it will replace the other new project and the new trend. So before this trend ends, we need to take as much profit as possible, and then we can leave it and not come back if it does not give us more profit.
The defi project will end soon, and it will replace the other new project and the new trend. So before this trend ends, we need to take as much profit as possible, and then we can leave it and not come back if it does not give us more profit.
Id say you are spot on, a lot of the Defi mania resembles the ico era, with most coins trying to jump in on the bandwagon for a quick price pump.
Many of the tokens seem to be behaving like pozis that's not to say all of them are, but i think a lot of people are going to be left holding worthless bags at the end of this and it's just unfortunate that it will damage the reputation of crypto in the long run the way that icons did.
Many of the tokens seem to be behaving like pozis that's not to say all of them are, but i think a lot of people are going to be left holding worthless bags at the end of this and it's just unfortunate that it will damage the reputation of crypto in the long run the way that icons did.
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