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Topic: Some newbie questions about DeFi (Read 222 times)

brand new
Activity: 0
Merit: 1
November 04, 2020, 03:57:25 PM
#9
Hello.. Defi are really a subject to watch closely...

Here's an https://crypto.co/news/defi-crypto-lending-transforming-the-industry/can help you with some information.

Hope its helpfull.
legendary
Activity: 2408
Merit: 4282
eXch.cx - Automatic crypto Swap Exchange.
September 23, 2020, 01:50:22 PM
#8
Seems all your questions has been answered here so before you lock the thread (which you should do right away), I just want to throw in my 2 cents. Obviously the cash is one of the reasons majority are picking interest in these new trend. You should be very cautious though as there are a lot of scams out there. Be very skeptical as 99.9% of the current project parading themselves as DeFi are just copycat or pure scams and are likely to die within a short time span.

Take it from someone that has made some decent amount of profit from these new trend and also have lost huge amount of money that if that profit would had been secured in Bitcoin, the story would had be different. You chasing after the hype might just end badly for you. You can go for the technology but don't be decieve with the ROI they're shilling the project to give. Borrowing a phrase I saw on crypto twitter but can't recall to quote the source', it goes like this,
Quote
Bitcoin sneezes (-5%), DeFi altcoins catches coronavirus (-30%+).
keep that in mind always.

Since you're new to the space (judging from your words), the best you can do for yourself is to concentrate more on studying and understanding Bitcoin. Sure you can get some ideas on other blockchain and developments but don't let that distract you.
legendary
Activity: 2282
Merit: 2196
Signature space for rent
September 23, 2020, 11:10:07 AM
#7
If that's all you wanted to know based on your question then kindly lock this thread below to avoid repetition in replies. You can see this icon down at the left corner  of your post.
I like your opinions and always I have been suggesting the same things. But for some threads, we can keep unlocking. Because it's an informative thread, here is some information that would help others who are looking for such information. For example, I am not fully aware of the DeFi system and have very little knowledge. So I can read all the information from this thread when I will have free time. If lock the thread then the thread will go down and users can't read after few hours since it wouldn't be on the first page. Besides that, also some new information would be add on this thread from where we all can learn.
full member
Activity: 1456
Merit: 148
September 23, 2020, 09:44:07 AM
#6
Thanks a lot to both of you! That's exactly what I was looking for.

If that's all you wanted to know based on your question then kindly lock this thread below to avoid repetition in replies. You can see this icon down at the left corner  of your post.
#Defi are new wave in the cryptocurrency space that has to deal with finance in a digital form, though as rightly said above, those thread's will definitely help your journey in the world of defi, good luck.
full member
Activity: 574
Merit: 125
September 23, 2020, 09:33:11 AM
#5
Defi is another financial system, wherein you don't need to go to any banks anymore, this is somehow really useful as of this pandemic because you don't need to go outside just to make any transaction manually. It is also good because of having secured and faster transactions.

You may visit these good threads about the DeFi system.
https://bitcointalksearch.org/topic/--5277260
https://bitcointalksearch.org/topic/--5275538
https://bitcointalksearch.org/topic/m.54651049
member
Activity: 234
Merit: 50
September 23, 2020, 09:27:25 AM
#4
Thanks a lot to both of you! That's exactly what I was looking for.
legendary
Activity: 2310
Merit: 4085
Farewell o_e_l_e_o
September 23, 2020, 09:24:35 AM
#3
My primary reason to visit this forum is the current trend of DeFi projects. I had done some research on my own but failed to understand the whole concept and what benefits it brings.
Threads in the list can help you get knowledge and beware of risks when you participate in DeFi party.

In short, DeFi is risky and you should never spend all your capital to invest in DeFi. Spend 10 to 20 percent of your capital for DeFi investment and keep the rest for bitcoin (50% at least), the rest part ( below 30 and up to 40%) for old and top altcoins -- their price are too good to invest for long term.
legendary
Activity: 2184
Merit: 1302
September 23, 2020, 09:14:53 AM
#2
See if this topic helps you: https://bitcointalksearch.org/topic/--5275538
There is also a list of DeFi topics here: https://bitcointalksearch.org/topic/defi-some-excellent-topics-on-defi-5276167
My primary reason to visit this forum is the current trend of DeFi projects.
If that is the case, then you'll have to visit the altcoin section more, that's the board where you can find discussions about DeFi and other whatnots about it, that being said, be careful of the scams and the hype/trend around DeFi and it's projects.
member
Activity: 234
Merit: 50
September 23, 2020, 08:58:59 AM
#1
Hello everyone,

As you can see, I'm pretty new to this forum, but not to cryptocurrencies. To be honest, I'm not too familiar with all aspects of cryptocurrencies, but understanding the decentralized concept behind Bitcoin and 'alt-coin' currencies.

My primary reason to visit this forum is the current trend of DeFi projects. I had done some research on my own but failed to understand the whole concept and what benefits it brings.

If I understood correctly, the basic idea is to kick out today's financial bureaucracy from basic financial services to the end user. So, could anyone point me to some good reading regarding the differences between these two financial systems and what are all the advantages (and disadvantages) of decentralized finances?

Or I have a completely wrong idea here...


On a side note, the search function is quite limited for new users on this forum. Maybe the admins could do something about it.
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