they change the way we handle money and own things ?

axxo

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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) ?

It is possible that Defi and NFT's become more popular, they could change the way we handle money and own things. These technologies have the potential to democratize access to the financial services and make it more easier for people to be able to do buying, selling and trading assets. We cannot tell now if it will be adopted by a small group of people only. It will depends on the technological advancements, it's framework and how the users will adopt to it.

dunfida

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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) ?

NFT hype is over and it is really just that good way back on couple of years where NFT was the main trend and if you do look on how many known personalities or collectors
had lost up much money on what they had bought in the past then it would be staggering millions of dollars.

Crypto, NFT losses believed to hit $25 trillion, says industry researcher
Celebrities lose millions of dollars investing in NFTs

Trying to read up those links then it would really be giving us out the idea on how much they have lost just because they are really that expecting
for it to be a collectors item.Yes it could be possible but the value or sale prices are way too non realistic or really just that too much.

Adbitco

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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,

NFT can never be more popular than altcoin or even bitcoin, as a matter of fact can be easily failed away just as the hours of ICO's and today we don't hear anything about them again.

Quote

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

The NFT are mostly used by their lovers. There are some people who finds it interesting to invest on them, but naturally I don't think is worth paying attention for, also having a lesser popularity.

TheUltraElite

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Quote from: carrie_white on May 04, 2023, 11:03:24 AM

I think the development of the crypto world will always change, for example Defi and NFT, I'm sure there will be many new things in the crypto world in the future. it depends on us wanting to choose and manage how we use our money wisely in the crypto world

They have not made a profound impact on this ecosystem. They have only made methods to lose money more easily accessible to common people, sarcastically speaking. If DeFi did what it was supposed to do it would have changed the economy with big impact. Maybe I am being hurried and I am willing to be seen proven wrong. But I feel that what bitcoin has already done, cannot be paralleled by any other system as of now.

Speaking of PEPE, apart from clogging the mempool and raising the bitcoin fees, which irritates me since I have some transactions pending, they have not done anything good for us old timers. Lets see if they actually change how we handle money or not.

carrie_white

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I think the development of the crypto world will always change, for example Defi and NFT, I'm sure there will be many new things in the crypto world in the future. it depends on us wanting to choose and manage how we use our money wisely in the crypto world

Iadegbola34

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Decentralized finance (DeFi) applications and non-fungible tokens (NFTs) are already changing the way we handle money and own things, and their popularity is only increasing. While it is true that currently only a small group of people are using these technologies, their potential impact is much broader. As more people become aware of the benefits of DeFi and NFTs, it is likely that their usage will become more widespread.

That being said, there are still challenges that need to be addressed before DeFi and NFTs can become truly mainstream. For example, there is a need for greater regulatory clarity and consumer protection. As these technologies continue to evolve, it is important for both users and regulators to stay informed and engaged in the conversation.

In short, DeFi and NFTs have the potential to fundamentally change the way we handle money and own things. While their impact may not be felt by everyone immediately, their potential for disruption is significant.

Xal0lex

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Quote from: AakZaki on April 29, 2023, 11:50:16 AM

Quote from: Xal0lex on April 24, 2023, 01:14:01 PM

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.

The topic of artificial intelligence is very popular today, there are even some new coins appearing, but more precisely memecoin. The emergence of AI memecoins is currently making memecoins even more popular, even the increase can be up to thousands of percent in just a few hours.

In addition, the NFT market has also started to move again, but with some utility tokens. Currently $PEPE COIN (coin of the NFT PEPE) is popular and many have become suddenly rich with $PEPE COIN. just imagine, just buying $27 PEPE COIN in 4 days can get around $1 Million, it's very crazy and really hype right now.

https://twitter.com/DexGemsReal/status/1648575669641543681

Many cannot get rich, otherwise there is not enough liquidity for everyone. Only about 100 addresses managed to get millions on PEPE investments in a few weeks, no more. This is in no way consistent with the definition of many getting rich. Many just found out about PEPE exactly when the investments of early investors turned from a few hundred dollars into several millions. Everyone else rushed to buy due to the general hype.

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Quote from: Apocollapse on April 14, 2023, 06:20:46 AM

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.

Even the legit projects team, their focus is also to raise money and make money but like you said they aren't only good at grabbing money but they also deliver quality projects as an exchange for their customers. Many projects that join the new trends are scam but there are still a few who are legit and will remain like this forever.

Bitcoin is the first crypto but I am not going to be biased here, Bitcoin does not have it all and that is why there are altcoins and tokens. Bitcoins technology is only a decentralized currency but the rest is more complex than it. Both of them still has a contribution on making crypto world a better place so let's stop stressing our selves about them.

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Quote from: AakZaki on April 29, 2023, 11:50:16 AM

Quote from: Xal0lex on April 24, 2023, 01:14:01 PM

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.

The topic of artificial intelligence is very popular today, there are even some new coins appearing, but more precisely memecoin. The emergence of AI memecoins is currently making memecoins even more popular, even the increase can be up to thousands of percent in just a few hours.

In addition, the NFT market has also started to move again, but with some utility tokens. Currently $PEPE COIN (coin of the NFT PEPE) is popular and many have become suddenly rich with $PEPE COIN. just imagine, just buying $27 PEPE COIN in 4 days can get around $1 Million, it's very crazy and really hype right now.

https://twitter.com/DexGemsReal/status/1648575669641543681

I've never heard of any AI meme coins and how they are making meme coins more popular. If there is anything that makes a meme coin popular is community hype just like how $PEPE is being hyped so badly on Twitter by a group of people who were the early investors and now want others to invest so that they can exit before it crashes.

Meme coins don't have any future, they are hyped by a specific group of people who have bought early, people start buying and hyping it too, when everyone starts buying seeing the hype when the price is already quite high, the early investors along with the team sell all their holdings and exit the market and the price crashes to a point where it stays stable or moves very slowly up and down forever. That's how it goes.

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Quote from: danherbias07 on April 30, 2023, 09:37:16 AM

There are actually different ways to handle money now. Some still use the old-school style and some do try the newly created applications.
Now, it's always up to who will use it. You cannot force something that ain't gonna be understood by the mass. If they prefer the traditional ways then they can stick with it.
If it's about the handling of the financial system then I do believe many things could be achieved faster and more accurately by adopting the new inventions of applications. But as I said, it will depend on who and what will it be for.
Mass adoption though had always been the hardest part to accomplish, there will be those who will be against it and that never ends.

The technology we have today is far greater than the technology we have few years ago where we want a massive cryptocurrency adaptation to happen. Today, masses has several improved options to use to aid their financial system but we can see that it's not yet enough to gain the trust of the public. I think the public isn't satisfied with the current offering to switch or use cryptocurrency as their primary way to do finance but yes, cryptocurrency projects are striving to capture the heart of masses with their project offerings. Sooner or later, We should expect a one of a kind project that will capture the heart of the public.

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Quote from: slashz9 on April 30, 2023, 12:27:38 AM

DeFi applications allow for financial transactions to occur without intermediaries like banks, which could reduce costs and increase accessibility for people who may not have access to traditional financial services. This could have a significant impact on how we handle money, particularly for those who are unbanked or underbanked.

And that's the typical feature of cryptocurrencies, you don't have to get into DeFi or so just for it because we can be our very own bank.

As for these DeFi, they can be alternative for those don't like banking services but there's also risk on it. If someone isn't aware of the risk with the DeFi's, I'm not telling this because I don't like them and I don't use them.

But because that's the reality that many of these DeFi apps have been compromised in the past.

uneng

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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) ?

The point is, why are they becoming popular and for how long? If it's just a temporary hype based on speculation for short term gains, it's definitely not going to be widely adopted by a major group of people, going beyond crypto speculators. In other words: they aren't going to change the way people handle money, because people don't see practical benefit in doing this change.

If someday DeFi and NFTs are seen as essential methods to deal with money and goods by a large parcel of the global population, then we may see traditional financial means being replaced by DeFi. That is really unlikely, though, as we see human beings have a constant demand for centralization, for being ruled by a central authority. There isn't an urge for decentralization in our societies.

danherbias07

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There are actually different ways to handle money now. Some still use the old-school style and some do try the newly created applications.
Now, it's always up to who will use it. You cannot force something that ain't gonna be understood by the mass. If they prefer the traditional ways then they can stick with it.
If it's about the handling of the financial system then I do believe many things could be achieved faster and more accurately by adopting the new inventions of applications. But as I said, it will depend on who and what will it be for.
Mass adoption though had always been the hardest part to accomplish, there will be those who will be against it and that never ends.

slashz9

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DeFi applications allow for financial transactions to occur without intermediaries like banks, which could reduce costs and increase accessibility for people who may not have access to traditional financial services. This could have a significant impact on how we handle money, particularly for those who are unbanked or underbanked.

kelonmusk

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I think that as DeFi applications and NFTs become more mainstream, DeFi have the potential to change the way handle money and own things. Right now, it's true that they are being used primarily by a small group of people, but I believe that this will change as they become more accessible and user-friendly.

With DeFi applications, we are seeing a shift away from traditional financial systems and towards a more decentralized approach. This means that people can make transactions without the need for intermediaries like banks or financial institutions.

So, DeFi has the potential to make financial transactions faster, cheaper, and more secure. As more people begin to see the benefits of DeFi, I think you will see more widespread adoption of these applications.

For example, if you buy an NFT of a piece of digital art, you own the original, even if the image itself can be shared and viewed by others. With NFTs, people can own unique digital assets that cannot be replicated or duplicated.

so98nn

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That’s not gonna change anything as of now or in the future either. NFT, DeFi or anything after the bitcoin is just idea that is based on power of blockchain and its real world or virtual applications. It has observed that very small group actually participate in the newer project.

Imagine how high the NFT craze went up in the initial days when we first heard someone selling their digital art for millions of dollars which was one of the first NFT. However, after trend went viral more and more peeps jumped in and started new platforms here and there with thousands of NFT getting listed on them.

Now, if you check then it’s all boring same old thing which no one really talk about unless it’s something way unique and in the news. The gist fades away with the time for everything excluding Bitcoin, that’s King.

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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

Did the invention of Bitcoin change the way we deal with money and private things? Sadly not (so far at least), most people look at Bitcoin as a way to make money only.

I think it's the same for DeFi and non-fungible tokens (NFT).

AakZaki

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Quote from: Xal0lex on April 24, 2023, 01:14:01 PM

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.

The topic of artificial intelligence is very popular today, there are even some new coins appearing, but more precisely memecoin. The emergence of AI memecoins is currently making memecoins even more popular, even the increase can be up to thousands of percent in just a few hours.

In addition, the NFT market has also started to move again, but with some utility tokens. Currently $PEPE COIN (coin of the NFT PEPE) is popular and many have become suddenly rich with $PEPE COIN. just imagine, just buying $27 PEPE COIN in 4 days can get around $1 Million, it's very crazy and really hype right now.

https://twitter.com/DexGemsReal/status/1648575669641543681

yazher

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you have it the other way because they are just not gonna give up on making it more popular so that they can get some huge taxes out of it, the more centralized it gets, the more money they make. in the end, they will continue supporting it and they will go hostile against those altcoins that are gone beyond their jurisdictions and put some pressure on them so that they either give up their project or adopt what the government proposes to them.

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I can see the fact that the growth of DeFi and NFT depends on many different factors, including acceptance from traditional financial institutions, trust from users and tools. legally authorize the use and management of these transactions. Therefore, whether DeFi and NFT can change the way we handle money and own things is still an open question and needs time to monitor and evaluate. However, developing DeFi and NFT does not guarantee that they will be widely used or will change the way we handle money and own things. Currently, although DeFi and NFT have attracted a large number of developers and investors, they are still used by a small group of people.

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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.

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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.

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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.

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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.

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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.

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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

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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.

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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.

abel1337

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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.

wxa7115

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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.

Luffygroove

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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.

GreatArkansas

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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.

Jating

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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.

Jackl87

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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) ?

I think that Defi is one of the biggest inventions of the crypto space that has ever happened, together with Ethereum and the introduction of smart contracts, which made stuff like Defi, Dexes, yield farming and all the other stuff possible to begin with. With Defi you always have the full control over your funds because you are in control of the key of your wallet all the time. The only thing that can happen is that the project where you are having your yield farm is making a rug pull or is hacked or something. You don't have that kind of risk when you put your money in a traditional bank, that is also part of the truth.
I think that Defi nowadays is already used by hundred thousands of people so in my personal definition, that is not a small group of people, but of course it is also not the broad masses.

siniminomorocomunisakito

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Will DeFi and NFT change the way we handle money and owning goods, or will they remain niche? Well, let's just say that if it were a film, DeFi would be an action-packed blockbuster with a global fan base, while NFT would be an indie film only art connoisseurs would appreciate. But who knows, maybe NFT will become the next cult classic.

ivankoh

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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.

Stalker22

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One of the biggest benefits of DeFi is that it offers greater financial inclusivity, meaning that more people can access financial services and participate in the global economy. It also allows for greater transparency and security in transactions, since the decentralized nature of the network makes it less vulnerable to fraud.
However, I do not share the same opinion about NFTs. I think that NFTs have their place in the world, but I do not think they will replace ownership as we know it anytime soon. While I think they have a lot of potential, I do not believe that they offer any tangible benefits to users, and until something changes or new features are added to them, they will remain a niche product for collectors only.

Kelvinid

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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) ?

It would be if we let this thing happen to us. Why we should, if there is another option in the first place?
In fact, they become popular because we made them popular but not to the extent that they will change the way we handle our money and own these coins, it's up to us if we change and follow what they wanted to happen. Well, manipulation is there as expected but was a very common thing to see in the market.

Johnyz

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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 are still young, they can still offer a lot of things so maybe in the future they will change the way we handle things, and if there’s a new development for sure many will start to adopt. DEFI is what we need to remain safe from any government interventions and stay away from the crashing fiat currency, we’ve given this opportunity and i hope that more good projects will come in this market and make things more possible.

fvb

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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) ?

This turns a lot of people off because they don't fully understand the technology in general terms. And for them it seems that these are just newfangled words that are simply addictive with their technological terms and are a little incomprehensible for perception. Undoubtedly, this future and the development of this area is still fully ahead. Once I was also on the sidelines, but now I can classify myself as one of that very small group of people. And if any person becomes interested, then he himself will understand everything and tell people he knows how it works

o48o

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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) ?

Current method won't change anything, but the basics are there for someone to build protocols that could be a platform for future stock exchange for example.

Biggest problem i see for this system to overcome are the native tokens (or coins). As decentralized systems need them for incentives and any goverment could attack on them banning their trade against fiat pairs. That would lower the incentives and while doing so decrease number of people who would want to keep the chain secure.

vv181

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First of all, there are no significant increases of total locked values as per DefiLlama, and if we take a look at CMC NFT's graph, https://coinmarketcap.com/nft/, there are also no significant market cap increases. So, I don't know what you mean or any metric that use to conclude both things popularities are increasing.

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) ?

One thing is for sure it won't have a major or massive adoption, the reason is a decentralized system seldom have government or authority approval. So, I think it will only be a handful of people that would use it. Do note that the governments are also developing CBDC, who knows what kind of services or platforms that they are going to integrate for the masses.

avikz

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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) ?

Tokens are worthless. 99% of the tokens you see today, won't exist in next couple of months. Only very few survives if they are able to find a committed group of supporters. So don't rely on such things. Rather adopt coins like bitcoin or ETH which has a global base of supporters. If these coins crashes down, the entire crypto market will face the same fate. So these coin will be the last ones to get into existential problems.

Only these coins have the power to change the way we handle money or own things. But that's something we are yet to see.

Nwada001

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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) ?

Every currency and digital asset has its place; no one can replace the other.
I strongly believe the time of NFTs is far gone now; the hype they are receiving now is just temporary; those first NFTs, which were first minted and publicly sold out, are no longer worth what they were purchased for. So I don't actually think in any way that NFTS can change the way we handle money and other things of life. In as much as I like the idea of the private ownership nature of NFTs, I still strongly believe it's not worth changing how we view other currencies.

The use of NFTs will always be limited to small firms and companies, most of which are specifically built for it. We can't use NFTs to make purchases on the open market the same way that we can easily use other generally accepted currencies like Bitcoin and USDT.

CarnagexD

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I dont think DeFi and NFTs will change the way we handle our money, I mean I think it is still up to us on how we'll manage our assets. Of course, with DeFi and NFTs in our hands, we'll be more careful in making decisions and managing risks. It will not remain as it is that it will only be used by a small group of people. Just like hntil today when we are building crypto communities, DeFi and NFTs will be widely adopted as well by many people.

kaseygriffin

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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. The necessity of being audited and reviewed will always be a hindrance ao I doubt we can fully do that more in the future.

I strongly agree with you on this point, I also think that it will not be a complete change of the way the social system has existed before. Just look at the history to the present, although things have changed a lot, but in general, it is a development to harmonize with the current living context.
And with the issue that OP mentioned here, I see that this issue needs to be viewed more positively with the cryptocurrency market or vice versa, however I strongly believe that this market is gradually bringing positive value. more extreme, and if the government really takes it seriously then there is a non-inhibitory approach.

cryptoaddictchie

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Quote from: moneystery on April 05, 2023, 09:24:13 AM

I think that in the future we will get freedom in making transactions and owning virtual products, not controlled by anyone and by any party, that is the freedom that most people have always wanted and all of that will be done through DeFi and NFT.

You mean total decentralization? How can you be sure of that, cause I think that we are progressing in reverse going centralization. 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. The necessity of being audited and reviewed will always be a hindrance ao I doubt we can fully do that more in the future.

moneystery

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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) ?

I think that in the future we will get freedom in making transactions and owning virtual products, not controlled by anyone and by any party, that is the freedom that most people have always wanted and all of that will be done through DeFi and NFT. This is an innovation which is going to play an important role in the financial access of many people going forward and I am pretty sure about it.

SyndicateLabs

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The use of decentralized finance (DeFi) applications and non-fungible tokens (NFTs) is forecast to be even more popular in the future. However, their ability to change the way we handle money and own things depends on many factors such as user adoption and the evolution of technology.

If users are massive and DeFi and NFT-related technologies flourish in the future, they could change the way we handle money and own things. These decentralized applications allow transactions to be performed quickly, cost-effectively, and ensure transparency, while minimizing the intervention of intermediaries. With a non-fungible token, users can own completely new digital assets, helping to create diversity in asset ownership.

However, for now, there is still a small group of people using DeFi and NFT and that is still the reality. To achieve widespread adoption and adoption of these technologies, continued development and improvement, while increasing user awareness and deployment, is required.

livingfree

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1st. This isn't related to bitcoin discussion so move your thread to Altcoin Discussion.

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,

Handling money is to each their own. And these classifications were already done being popular although there are some of them that can still be said which are remaining in the market.

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) ?

A community maybe.

cafter

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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) ?

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