they change the way we handle money and own things ? - page 2.

Xal0lex

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Quote from: cafter on April 05, 2023, 07:41:21 AM

as decentralized finance (DeFi) applications and non fungible tokens (NFTs) become more popular, will they change the way we handle money and own things,

or will they only be used by a small group of people(like now being used) ?

Are DeFi and NFT becoming more and more popular? I wonder if anyone can remind me of the last of the newly released high-profile projects from the DeFi or NFT category? I think those token categories lost their popularity a long time ago when the hype for those projects ended. Is NFT even of interest to anyone right now? Other than for speculation, does anyone buy these pictures? I have big doubts about the popularity of these tokens. Now the community is interested in the topic of artificial intelligence and various tokens-layers, 0, 2, etc.

LogitechMouse

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Quote from: cafter on April 05, 2023, 07:41:21 AM

as decentralized finance (DeFi) applications and non fungible tokens (NFTs) become more popular, will they change the way we handle money and own things,

or will they only be used by a small group of people(like now being used) ?

As for DeFi, there are some changes already because there are some people who prefer using it for some reasons, but the problem with some of the DeFi is the fact that they're more prone to scams and hacks. How many DeFi exchanges has already been hacked throughout the years? How many DeFi exchanges rug pulled already?

As for NFT, I don't see it having any significant change to how we are handling money things as of the moment. I mean I don't even know if there is any use-case of NFT's at all aside from the fact that you will have some benefits from that project whenever you have bought an NFT.

Overall, it's still hard to know what will be the future of these 2 things. DeFi and NFT has been here for a very short time only, and who knows. We might see them having an upgrade overtime, or we might see them disappearing in the crypto space.

borovichok

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Quote from: daenarys_stormborn on April 13, 2023, 11:41:30 AM

I think the development of the crypto world will always change according to technology and the times, call it like defi and NFT, I'm sure in the future, there will be new technological features in the crypto world, so it's up to us to make a choice which one is better in managing our own money

Our environment is changing quickly, and if we don't adjust, we risk being left behind and feeling depressed. controlling cutting-edge technology and internet trends to get information on how the market is operating. The ways of paying bills have also advanced; the majority of eateries now accept cryptocurrency payments, and this digital currency is expanding worldwide. Some of my fiat money has been converted to cryptocurrency. With new features in projects, cryptocurrency moves on to the next phase. Non-Fungible Tokens have a wide distribution in the market and a significant boost in investor holdings.

wxa7115

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Quote from: bitgolden on April 14, 2023, 01:18:40 PM

I understand that scammers will not leave and there is a bit of a trouble in that, but if we are more careful than this could grow bigger. Sure there will be plenty of projects whose aim is only to take your money and nothing else, but there will also be projects (and there are some already) which aims at changing some stuff.

If nobody ever did DEX projects, we wouldn't have them, if nobody tried to do NFT, then we wouldn't have them. Some people aim at changing some stuff and bringing a better new thing to the crypto world, we should be focusing on how we could do a better job with them. I am not saying that it would be easy to change the crypto world, but if never fund any project, then we would not grow at all.

It is true that not everyone out there trying to create something new is a scammer, but a great deal of them are, and this makes people very suspicious about any new projects, because regardless of how legitimate they may look people will always wonder if this is just a very well disguised scam.

And while it is depressing that things got to this point, we cannot really blame investors to think this way, as more than anything they want to earn profits and to protect their capital, and most of those projects do not offer the possibility to do either.

MIner1448

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Decentralized financial applications (DeFi) and non-fungible tokens (NFTs) are new technologies that could change the way we handle money and our possessions. They offer new opportunities for financial and property management that can be more efficient and secure than traditional methods.
However, as with any new technology, adoption can be slow. Currently, DeFi and NFT are predominantly used by tech-savvy individuals rather than the general public.
So while DeFi and NFTs may change the way we handle money and property, their acceptance and widespread use will depend on how successfully they manage their risks and limitations and how widely they are available and easy to use for the general public. of people.

Wexnident

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Quote from: cafter on April 05, 2023, 07:41:21 AM

as decentralized finance (DeFi) applications and non fungible tokens (NFTs) become more popular, will they change the way we handle money and own things,

or will they only be used by a small group of people(like now being used) ?

Idk about how NFT's can be used in the future, but thinking of its original purpose, I don't think it's fulfilling any of it. It may change the idea of how people handle transactions online, but I hardly think it would change how "money" would be handled.

DeFi can be said to have changed the way already, but it doesn't necessarily mean that it will be a popular method in itself. Not really sure how the growth of it's scene has went since I never really bothered looking them up, but seeing as I'm in the crypto scene and I have no info about it, safe to say that it wouldn't grow past to actually see notable changes in the way money is handled. It's there, but it wouldn't go past a certain point of influence.

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Quote from: cryptomaniac_xxx on April 13, 2023, 09:59:47 AM

Quote from: Cling18 on April 12, 2023, 11:32:54 AM

There were already lots of scamming and hacking incidents through NFTs and Defi projects so we can't blame investors if they will choose well-established projects over them. I don't think it will affect how we manage our funds because investors nowadays are being skeptical about where to invest to avoid scammers and fake projects which are all over the crypto industry nowadays and mostly hiding behind NFTs.

But I guess it will continue, I mean it's cyclical, scammers will be here to stay and so we must all be careful on what projects we trust and which one we invest our money with.

Same with the current trend of NFT and Defi projects. Each of them have weak spots that cyber criminals tend to exploit, or they will have to study first the project and if they see loopholes they attack and drain everything. And with that there is no safe investment here, even solid project come can be down like -80% or even -90% in a bear market.

I understand that scammers will not leave and there is a bit of a trouble in that, but if we are more careful than this could grow bigger. Sure there will be plenty of projects whose aim is only to take your money and nothing else, but there will also be projects (and there are some already) which aims at changing some stuff.

If nobody ever did DEX projects, we wouldn't have them, if nobody tried to do NFT, then we wouldn't have them. Some people aim at changing some stuff and bringing a better new thing to the crypto world, we should be focusing on how we could do a better job with them. I am not saying that it would be easy to change the crypto world, but if never fund any project, then we would not grow at all.

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Quote from: cafter on April 05, 2023, 07:41:21 AM

or will they only be used by a small group of people(like now being used) ?

I think they have their own niche users, most of the old bitcoin maximalists are not into these things. Although things might change but I am looking for that change since they were introduced and none have happened yet.

Possible that NFTs can be used for something big or what they were intended to do, bring art to the crypto public, ended up being a sale of shit. DeFi could be the new ecosystem in which bitcoin can work, but it has been away from bitcoin's connection for now.

Now the thing is that we can only wait and predict and then see how far they work. Surely good things can happen and governments may allow some of them to progress further such that DeFi and NFT become more useful.

Apocollapse

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Quote from: daenarys_stormborn on April 13, 2023, 11:41:30 AM

I think the development of the crypto world will always change according to technology and the times, call it like defi and NFT, I'm sure in the future, there will be new technological features in the crypto world, so it's up to us to make a choice which one is better in managing our own money

There's always a new technology in cryptocurrency in the future, but mostly the project is only look to make money rather than focus about their use case and development. Most of the projects only give good in theory, but in practice the project almost didn't contribute anything.

That's why Bitcoin always leading in cryptocurrency market and no technology can able to beat Bitcoin until now.

daenarys_stormborn

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I think the development of the crypto world will always change according to technology and the times, call it like defi and NFT, I'm sure in the future, there will be new technological features in the crypto world, so it's up to us to make a choice which one is better in managing our own money

cryptomaniac_xxx

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Quote from: Cling18 on April 12, 2023, 11:32:54 AM

Quote from: jrrsparkles on April 12, 2023, 09:47:49 AM

Quote from: cafter on April 05, 2023, 07:41:21 AM

as decentralized finance (DeFi) applications and non fungible tokens (NFTs) become more popular, will they change the way we handle money and own things,

or will they only be used by a small group of people(like now being used) ?

Is they are actually in use? The hype for Defi and NFT over a long time now so the usage is decreasing gradually over the time so I don't think it will grow as you are expecting with the current state of those things.

Also there are many new projects coming up with the name and managed to scam investors so from community point of view we can't expect much support from them so usage of NFT has to find the real use case apart from investment asset.

There were already lots of scamming and hacking incidents through NFTs and Defi projects so we can't blame investors if they will choose well-established projects over them. I don't think it will affect how we manage our funds because investors nowadays are being skeptical about where to invest to avoid scammers and fake projects which are all over the crypto industry nowadays and mostly hiding behind NFTs.

But I guess it will continue, I mean it's cyclical, scammers will be here to stay and so we must all be careful on what projects we trust and which one we invest our money with.

Same with the current trend of NFT and Defi projects. Each of them have weak spots that cyber criminals tend to exploit, or they will have to study first the project and if they see loopholes they attack and drain everything. And with that there is no safe investment here, even solid project come can be down like -80% or even -90% in a bear market.

Cling18

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Quote from: jrrsparkles on April 12, 2023, 09:47:49 AM

Quote from: cafter on April 05, 2023, 07:41:21 AM

as decentralized finance (DeFi) applications and non fungible tokens (NFTs) become more popular, will they change the way we handle money and own things,

or will they only be used by a small group of people(like now being used) ?

Is they are actually in use? The hype for Defi and NFT over a long time now so the usage is decreasing gradually over the time so I don't think it will grow as you are expecting with the current state of those things.

Also there are many new projects coming up with the name and managed to scam investors so from community point of view we can't expect much support from them so usage of NFT has to find the real use case apart from investment asset.

There were already lots of scamming and hacking incidents through NFTs and Defi projects so we can't blame investors if they will choose well-established projects over them. I don't think it will affect how we manage our funds because investors nowadays are being skeptical about where to invest to avoid scammers and fake projects which are all over the crypto industry nowadays and mostly hiding behind NFTs.

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Quote from: cafter on April 05, 2023, 07:41:21 AM

as decentralized finance (DeFi) applications and non fungible tokens (NFTs) become more popular, will they change the way we handle money and own things,

or will they only be used by a small group of people(like now being used) ?

Is they are actually in use? The hype for Defi and NFT over a long time now so the usage is decreasing gradually over the time so I don't think it will grow as you are expecting with the current state of those things.

Also there are many new projects coming up with the name and managed to scam investors so from community point of view we can't expect much support from them so usage of NFT has to find the real use case apart from investment asset.

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Quote from: smyslov on April 11, 2023, 05:38:10 PM

Quote from: cafter on April 05, 2023, 07:41:21 AM

as decentralized finance (DeFi) applications and non fungible tokens (NFTs) become more popular, will they change the way we handle money and own things,

or will they only be used by a small group of people(like now being used) ?

Have you heard of the hacking and scamming in DeFi, it used to be huge and people are looking for its potential but it's not 100% safe and perfect, you cannot trust a protocol with issues to your money, yes they are popular but not the majority of the masses can handle the technicality.
And NFT is not yet gaining popularity among the masses only a small community adopts NFT, honestly, I'm one of those who do not believe in NFT, I consider it just hype.

scammers and hackers main targer are always the one who are in trend because it is where the money is. There are no perfect unhackable system and these defi projects are full of contracts which is also full of flaws that hackers like. This is why we do have audits to check id it's heavy flawed and I also don't think that masses are technical on these side of things because I believe that majority of the people even today is we still rely on audits.

NFT is also a very popular. Did you know that it became a trend? Since major celebrities are promoting and having these NFT as the way of NFT marketing? Resulting on many news about fans also wanting those NFT to become one of their idols. This is only one scenario that made NFT become a trend.

smyslov

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Quote from: cafter on April 05, 2023, 07:41:21 AM

as decentralized finance (DeFi) applications and non fungible tokens (NFTs) become more popular, will they change the way we handle money and own things,

or will they only be used by a small group of people(like now being used) ?

Have you heard of the hacking and scamming in DeFi, it used to be huge and people are looking for its potential but it's not 100% safe and perfect, you cannot trust a protocol with issues to your money, yes they are popular but not the majority of the masses can handle the technicality.
And NFT is not yet gaining popularity among the masses only a small community adopts NFT, honestly, I'm one of those who do not believe in NFT, I consider it just hype.

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Quote from: cafter on April 05, 2023, 07:41:21 AM

as decentralized finance (DeFi) applications and non fungible tokens (NFTs) become more popular, will they change the way we handle money and own things,

or will they only be used by a small group of people(like now being used) ?

NFTs had potential, as it was a way for those which produce digital artworks to be able to sell the originals, and if enough interest was garnered it would have created a niche market for collectors of digital art.

But is that what happened? Not really, scammers took advantage of NFTs as they always do and created a bunch of art no one would ever be interested on buying and they sold it for a fortune, since then no serious collector considers NFTs as a serious alternative, and without them any collector market which could be established around NFTs died before it was even born.

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Uhm, I don't think we've arrived at that stage yet. I believe that until now, cryptocurrencies were still considered just tools of investment by the majority, especially for those who loved speculation. I still have a doubt that cryptocurrency has already changed our ways to handle and save money or own things, since there are still many issues to be handled, for example, with the security of the technology. Massive adoption is still hindered by many factors, such as regulation, (again) security issues, etc., that make people prefer the traditional way to do things. Or even if there's a change, it would be minor.

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Quote from: cafter on April 05, 2023, 07:41:21 AM

as decentralized finance (DeFi) applications and non fungible tokens (NFTs) become more popular, will they change the way we handle money and own things,
(....)

We will still don't know what will be the future of Decentralized Finance (DeFi) and Non-Fungible Tokens (NFT). Because as you noticed before, especially when the market is bleeding, the market got no excuses, all are affected by the bloody market. So for me, we are still in speculating time but I believe when great innovation, we will have a future.

There will be a lot of changes I believe because there is always a new project that is coming to the market and especially in the cryptocurrency space, we are still early.

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Quote from: cafter on April 05, 2023, 07:41:21 AM

as decentralized finance (DeFi) applications and non fungible tokens (NFTs) become more popular, will they change the way we handle money and own things,

or will they only be used by a small group of people(like now being used) ?

Nah, it is still hype and as we have seen in the past, nothing has change from the ICO days, it will just be pump as hard by anyone or some entity. Sure it might be that there are individuals who see this as a new wave, or new things in handling money, but for me it is the same.

We invest, we jump on the hype, if you are smart enough get out before it burst, get your money, rinse and repeat, simply as that.

So there's no concept of money here, everyone is here for the profit.

sana54210

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Quote from: ivankoh on April 06, 2023, 08:54:20 AM

Quote from: cryptoaddictchie on April 05, 2023, 09:48:22 AM

Government is an entity that would never go away, so in the end they will always go with the one that is controllable and can be restricted. See what happening on some crypto infrastructures like central exchange.

That is a big hurdle that defi and NFT in particular and the crypto market in general. The government will not want to lose the power they have, which is to stifle freedom and control the people, they will always find a way to do it. but in fact they can't do it at all because their traditional financial system is on the verge of bankruptcy. Defi and NFT will promote awareness of human freedom and the obligation to seek greater good. The bankruptcy process of US banks is making users understand that what is good for people, changing the mindset and approach to DEFI will create a really serious and promising view of that aspiration. . The change in perception will take time, but I hope it is a change that allows us to be proactive with our money and possessions without having to be in a single powerful entity.

No matter how much better of a system you think you built compared to what people have, it is true that we are not going to end up seeing anything like that anytime soon. I personally do not feel obliged to anything like that, I think I do not have to move to defi, and that is good enough reason to not move there.

There are millions of people who ended up not doing anything about the current situation and they just became a part of it and they will continue to do that as long as possible. I personally prefer that the best thing to do right now is ignore all the new and old, and try to find what is personally best for you, and then just use it as much as you can with the infrastructure that can allow it.

Topic: they change the way we handle money and own things ? - page 2. (Read 517 times)