You bring up a fascinating perspective on the significance of Defi and NFTs in the cryptospace. Indeed, their potential goes far beyond mere trends or scams. Defi's role as foundational infrastructure is increasingly apparent, and this extends to a wide range of digital assets, including NFTs, cryptocurrencies like Bitcoin and Ethereum, altcoins, and stablecoins.
At https://coinremitter.com/?utm_source=com&utm_medium=bitcointalks , we have recognized the growing importance of Defi and NFTs in the crypto ecosystem. As a crypto payment gateway, we are committed to facilitating seamless and secure transactions for these emerging assets. By offering a robust platform that integrates with Defi projects and supports NFT liquidity, we aim to contribute to the growth and success of this dynamic space.
The synergy between Defi and NFTs is undeniable, and it's exciting to see how these technologies will continue to evolve and shape the future of the cryptospace. We're not just witnessing trends; we're witnessing the foundation of a digital economy that has the potential to disrupt traditional financial systems and unlock new possibilities across various sectors.
Topic: Why I think Defi and NFTs will be the most important elements in the cryptospace (Read 295 times)
October 11, 2023, 05:16:10 AM
September 14, 2023, 10:49:37 PM
I am not quite certain if these NFT vouchers will create a market where users can trade them, however, if they have real value and some liquidity, I reckon a DeFi platform could accept them as collateral for lending. There might be people shaking their heads but why not if this generates yield for the platform and the lenders who are using the platform hehe.
The Grab Web3 Wallet will be available to users of the ride hailing, food delivery and digital payments app in Singapore to use vouchers in non-fungible token (NFT) form and earn rewards and collectibles, the companies said. The first stage of the pilot will be during the Singapore Grand Prix on Sept. 17.
Source https://www.coindesk.com/web3/2023/09/14/superapp-grab-stablecoin-issuer-circle-to-start-web3-wallets-trial-in-singapore/
The Grab Web3 Wallet will be available to users of the ride hailing, food delivery and digital payments app in Singapore to use vouchers in non-fungible token (NFT) form and earn rewards and collectibles, the companies said. The first stage of the pilot will be during the Singapore Grand Prix on Sept. 17.
Source https://www.coindesk.com/web3/2023/09/14/superapp-grab-stablecoin-issuer-circle-to-start-web3-wallets-trial-in-singapore/
September 06, 2023, 10:01:30 PM
Despite my speculations on real world assets in DeFi has changed only because Blackrock and other firms from traditional finance are beginning to support it, the original argument about the value of assets native to the cryptospace has not.
In any case, this article mentioned that Justin Biebert's produce is selling the song Company as NFTs and the holders will earn royalties from sales through streaming services.
I reckon this might set up a new precedent for the music and movies industries and it also shows that if successful, it has shown a very good usecase for the democratization of funding and ownership through NFTs.
Ever wanted to own a tiny slice of a Justin Bieber song? Writer and producer Andreas “Axident” Schuller is set to sell NFTs that will grant owners a percentage of future streaming royalties to Justin Bieber’s hit song “Company.”
Schuller, who has also worked with the likes of Pitbull and Jason Derulo, has teamed up with blockchain-based music rights platform AnotherBlock to sell a 1% total portion of the streaming royalty rights to Bieber’s “Company” via 2,000 Ethereum NFTs.
Each ERC-721 token will be available to purchase from 0.017 ETH (about $28) and give each holder 0.0005% of future streaming proceeds from digital service providers like Apple Music, Tidal, and Spotify. As it stands, royalty payments will be made every six months—but AnotherBlock has previously teased “major updates” on this front.
Source https://decrypt.co/155164/justin-bieber-producer-selling-royalties-song-company-nfts
In any case, this article mentioned that Justin Biebert's produce is selling the song Company as NFTs and the holders will earn royalties from sales through streaming services.
I reckon this might set up a new precedent for the music and movies industries and it also shows that if successful, it has shown a very good usecase for the democratization of funding and ownership through NFTs.
Ever wanted to own a tiny slice of a Justin Bieber song? Writer and producer Andreas “Axident” Schuller is set to sell NFTs that will grant owners a percentage of future streaming royalties to Justin Bieber’s hit song “Company.”
Schuller, who has also worked with the likes of Pitbull and Jason Derulo, has teamed up with blockchain-based music rights platform AnotherBlock to sell a 1% total portion of the streaming royalty rights to Bieber’s “Company” via 2,000 Ethereum NFTs.
Each ERC-721 token will be available to purchase from 0.017 ETH (about $28) and give each holder 0.0005% of future streaming proceeds from digital service providers like Apple Music, Tidal, and Spotify. As it stands, royalty payments will be made every six months—but AnotherBlock has previously teased “major updates” on this front.
Source https://decrypt.co/155164/justin-bieber-producer-selling-royalties-song-company-nfts
June 01, 2022, 07:29:07 PM
@RussianEnglishTranslation. It is very arguable where the future of the cryptospace might be regarding layer 1. There is also an argument that it will only be Ethereum as the layer 1 with a few layer 2s being their own ecosystems. I speculate the end of this bear market will show which layer 1s will survive and which will become something similar to 2017 ICOs that died hehe.
Also, I am not forgetting those other usecases and it was not the point when I created the thread. Read again carefully what I wrote. It is about assets that are born in the cryptospace and how Defi is the perfect infrastructure to extract liquidity from them. It might not be for tokenized bonds, tokenized equites or tokenized assets from the real world which have all failed in past implementations.
Also, I am not forgetting those other usecases and it was not the point when I created the thread. Read again carefully what I wrote. It is about assets that are born in the cryptospace and how Defi is the perfect infrastructure to extract liquidity from them. It might not be for tokenized bonds, tokenized equites or tokenized assets from the real world which have all failed in past implementations.
June 01, 2022, 07:10:10 AM
Defi and NFTs will not only be important elements in the cryptospace, I reckon Defi will be the main element that will serve as basic infrastructure for all digital items created in the cryptospace. This will include NFTs as mentioned and will also serve cryptocoins like Bitcoin, Ethereum, other altcoins and stablecoins. Defi can also serve casinos, DAOs and many other usecases.
Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
DeFi and NFTs will do well but you are forgetting a lot of other usecases like digital identity, remittance/payments, metaverse, gamefi etc. What you could do when investing, instead of trying to guess the next sector that pumps, is invest in L1s that these topics are going to be build on. ETH itself is not capable of hosting all of these future DApps because of gas fees but projects like HBAR and ICP that are infinitely scalable are. Consider that! We have an opportunity to invest in something like the internet before the standard is created. Why limit yourself to just investing in one website when you could own a piece of the internet- that's an analogy. Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
May 31, 2022, 11:25:37 PM
News update.
It appears that JPMorgan went back to 2016 again where every VC, developer and influencer were calling for the tokenization of real world assets. I might be mistaken, however, it did not enjoy positive reception by the market and has never had any encouraging adoption in the cryptospace. Will JPMorgan have a different implementation of this? They might, however, we have already witnessed that assets created in the cryptospace like protocol tokens and NFTs have no problem in having their own value that is disconnected, with no backng from the real world. JPMorgan might create more wealth by backing Defi projects than to reinvent the wheel.
JPMorgan Chase & Co is using blockchain for collateral settlements, the latest Wall Street experimentation with the technology in the trading of traditional financial assets.
The bank’s first such transaction came on May 20, when two of its entities transferred the token representation of BlackRock Inc. money market fund shares as collateral on its private blockchain. The effort will allow investors to pledge a wider range of assets as collateral and use them outside of market operating hours, according to New York-based JPMorgan.
Source https://finance.yahoo.com/news/jpmorgan-finds-blockchain-trading-lending-123000650.html
It appears that JPMorgan went back to 2016 again where every VC, developer and influencer were calling for the tokenization of real world assets. I might be mistaken, however, it did not enjoy positive reception by the market and has never had any encouraging adoption in the cryptospace. Will JPMorgan have a different implementation of this? They might, however, we have already witnessed that assets created in the cryptospace like protocol tokens and NFTs have no problem in having their own value that is disconnected, with no backng from the real world. JPMorgan might create more wealth by backing Defi projects than to reinvent the wheel.
JPMorgan Chase & Co is using blockchain for collateral settlements, the latest Wall Street experimentation with the technology in the trading of traditional financial assets.
The bank’s first such transaction came on May 20, when two of its entities transferred the token representation of BlackRock Inc. money market fund shares as collateral on its private blockchain. The effort will allow investors to pledge a wider range of assets as collateral and use them outside of market operating hours, according to New York-based JPMorgan.
Source https://finance.yahoo.com/news/jpmorgan-finds-blockchain-trading-lending-123000650.html
April 25, 2022, 11:25:08 AM
there is actually no point arguing whether defi is truly decentralized or not. You cannot give a yes or no answer to that. Defi is generic. It is the overarching idea. To be able to answer with a yes or a no, it is necessary to name specific defi projects and closely scrutinize their protocols.
This is the same thing that I tried to explain to people about NFT as well. I dislike all those images, cryptupunks, apes and what not in the NFT world but that doesn't mean that I dislike NFT as a whole. NFT is the idea, and you could be using that for many different purposes, just because I dislike those apes and what not images on NFT doesn't mean I would not be happy about NFT getting used in other format.There are people who are using it to sell their music for example, you literally get a share of the royalty they make and that’s a good use, imagine owning one part of some important musician’s music and then making part of the royalty they make, wouldn't that be awesome? So, it is not the idea, it's project by project discussion.
April 23, 2022, 01:10:22 AM
There is no doubt that decentralized finance system has played an important role in this progressive crypto currency industry and I believe it will be very useful in future no matter If it's for NFTs, Metaverse or any other thing. The current positive impact of DeFi system will boost up any part of crypto space in future although some governments are uncomfortable with this DeFi system which is gonna be a barrier in the progress of DeFi nevertheless I believe by understanding the potentials of DeFi they will consider to take it positively.
April 22, 2022, 11:23:11 PM
Defi and NFTs will not only be important elements in the cryptospace, I reckon Defi will be the main element that will serve as basic infrastructure for all digital items created in the cryptospace. This will include NFTs as mentioned and will also serve cryptocoins like Bitcoin, Ethereum, other altcoins and stablecoins. Defi can also serve casinos, DAOs and many other usecases.
Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
DeFi won't be a thing as long as crypto people are using it to run away from regulators when they should embrace and integrate regulations.
For now they work as a proof of conceptbut RegDeFi is where we should be headed. Even Andre Cronje who is basically the godfather of DeFi wants to focus on regulation focused projects now.
https://www.coindesk.com/tech/2022/04/19/defi-developer-andre-cronje-teases-new-regulation-focused-crypto-projects/
Here's a project that's currently furthest ahead in tech and Regdefi:
https://www.youtube.com/watch?v=LqDTGk6yuBg
NFTs on the other hand can be used for lots of things.
I disagree because there will always be users in the cryptospace who will always be willing to use Defi's infrastructure because the need it. They will need it for loans, they will need it for yields, they will need it for swaps and many other usecases.
Regulators cannot do anything to enforce the law because those smart contracts are immutable.
Also, you should not trust Andre's words. He rugpulled his followers and made more than $1 billion and he returns with an article telling everyone that regulation is needed in Defi? This is head shaking.
April 22, 2022, 11:36:46 AM
Defi and NFTs will not only be important elements in the cryptospace, I reckon Defi will be the main element that will serve as basic infrastructure for all digital items created in the cryptospace. This will include NFTs as mentioned and will also serve cryptocoins like Bitcoin, Ethereum, other altcoins and stablecoins. Defi can also serve casinos, DAOs and many other usecases.
I definitely agree with you regarding the statement that Defi is and probably will be an important element of the whole cryptospace. When the whole Defi Hype started i also did not really understand what this was all about but i start to use those Defi products more and more. I invested a little bit of money in a token that i can recompound regularly in order to increase my interest and therefore my overall profit and i am also having some fudns now at a farm where my assets generate passive income which is great. Sadly i can only invest small amounts in such products but people that have a lot of money available could really live from that passive income. Of course there is always also some risk involved.
April 22, 2022, 11:14:36 AM
Decentralized Finance (DeFi) for me is the major one for sure.
In the beginning, seems DeFi is no use at all but look at now how it is helping our finance right now, Decentralized Finance (DeFi) solves a lot of problems in current traditional finance, for sure we are still early for it.
Smart contracts is really the player when it comes to DeFi, especially since we are still growing, lot of different chains that already adopting DeFi, it will help to lure more people that will start to explore Decentralized Finance (DeFi).
Only defi's? But what about the nft's? Well defi's can still live even without the help of nft's and if we can remember there are already defi's before but there are no nft's that time. Nft's have only came out recently together with metaverse. This two are a better tandem than the defi/nft.In the beginning, seems DeFi is no use at all but look at now how it is helping our finance right now, Decentralized Finance (DeFi) solves a lot of problems in current traditional finance, for sure we are still early for it.
Smart contracts is really the player when it comes to DeFi, especially since we are still growing, lot of different chains that already adopting DeFi, it will help to lure more people that will start to explore Decentralized Finance (DeFi).
There are lots of scams defi last time, obviously they are going to die and what is left now are legit projects. Luckily there is only less defi projects that are scam because scammers are now focusing on the new thing which was the nft and metaverse. There are some exciting defi projects that can attract investors but we can't deny that nft's can also do the same thing.
April 22, 2022, 09:14:04 AM
Yes, I think NFT is a good answer to solve the problems in each niche, eliminating the complicated and cumbersome middlemen in most areas. Most of the NFT models are and will be widely applied in practice. Meanwhile, defi is the future of finance.
I am concerned that bitcoin will be “bundled” into strict and binding government regulations for CEX in the future. On the other hand, as bitcoin becomes more important, the government is concerned about it because other circumstances make it no longer safe. before personal financial rights are infringed. Surely everyone's dream will be decentralized - Defi.
I am concerned that bitcoin will be “bundled” into strict and binding government regulations for CEX in the future. On the other hand, as bitcoin becomes more important, the government is concerned about it because other circumstances make it no longer safe. before personal financial rights are infringed. Surely everyone's dream will be decentralized - Defi.
April 22, 2022, 07:55:04 AM
Defi and Nft's already changed a lot of things here in cryto space. And large numbers of people are becoming so much interested in Defi and Nft ever since it started. Many defi projects now keeps on continuing gaining attentions and we have to admit that roi in defi is quite large for some projects as well. And for Nft's, I currently see it now as undervalued, but it really has a lot to offer, maybe in the next few years Nft's will become so much big. So I agree that Defi and Nft's can become one of the important space here in crypto world.
April 22, 2022, 06:32:42 AM
I agree that certain things that we gained from the DeFi space will definitely be here to stay. We have to realize that people love to use Binance and Coinbase and places like that and it will not end, but the fact that now we have DEX that could be working all by itself without really needing anything else shows that maybe it is not so bad after all.
I am not saying that it is the best, sure some CEX's are still better, but the fact that it exists is more than enough information needed for getting hyped about the future. Not all parts of it will stay the same, it will eventually grow bigger and smaller and so forth, but the innovation is definitely welcomed.
I am not saying that it is the best, sure some CEX's are still better, but the fact that it exists is more than enough information needed for getting hyped about the future. Not all parts of it will stay the same, it will eventually grow bigger and smaller and so forth, but the innovation is definitely welcomed.
April 22, 2022, 02:56:48 AM
IMO, DeFi failed and craze for NFT also not that high compared to when it was new to the market so my common sense says that its just another trend which will eventually fade away so not going to make much difference in the cryptospace. Metaverse can be the next and its more promising not only in cryptocurrency but also has wider use case.
April 21, 2022, 09:05:21 PM
The idea of decentralized finance may be good and very promising, but the prevailing question until today is that which particular decentralized platform in the whole wide defi space is truly decentralized? It is easy to claim decentralization, but upon investigated very closely, will there be any single defi project that is really decentralized?
The idea of decentralization is that there won't be any single point of failure. Looking closely at defi projects, could we give at least a single defi project that doesn't have a single point of failure?
The idea of decentralization is that there won't be any single point of failure. Looking closely at defi projects, could we give at least a single defi project that doesn't have a single point of failure?
I have a similar criticism and have created threads about them a few times. What I can tell you is it is arguable for both sides between if someone replies yes and no. Where would you argue for if you think there is a single point of failure?
In any case, this thread is not about that argument. It is an argument about Defi as infrastructure for digital goods, fungible or nonfungible.
This might be a antagonistic opinion, however, I reckon the NFT market might become more popular than the fungible cryptocoin market. The cultural value of NFTs appear to be very underestimated by much of the users in the cryptospace.
Also, to the skeptics of Defi as an infrastructure for digital goods. 2 years ago I might agree, however, similar to bitcoin's skeptics, the skeptics of Defi who say it will die in a few years will also be proven wrong.
No, there is actually no point arguing whether defi is truly decentralized or not. You cannot give a yes or no answer to that. Defi is generic. It is the overarching idea. To be able to answer with a yes or a no, it is necessary to name specific defi projects and closely scrutinize their protocols.
For example you can take into investigation such defi platforms as Aave, PancakeSwap, etc and make a decision whether they are really decentralized. So far, defi platforms like the Poly Network, Compound Finance, and very recently, the Ronin Network have proven that there is indeed less decentralization in defi than claimed.
Defi itself is not the infrastructure. Again, you need to go down to a particular defi project to find a specific defi infrastructure. It is where you will conclude whether there is indeed decentralization or not.
As to NFT, it is more overestimated than underestimated. And its current popular use is not really interesting, although there must be a lot of significant real-life use cases that could make use of the NFT technology.
Defi will not die in a few years, perhaps not even in decades. Defi is an idea after all. But the question is, will there still be a defi project today that will remain to be standing strong 10 years from now?
April 21, 2022, 09:25:53 AM
I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
nft for long term? I don't agree about this. nft is profitable when it's hype, but once the hype dissipates slowly the price floor goes down. and it will hurt whoever holds it in the long term. but using defi for cryptospace base. it's worth trying. if this works, we will really not need a centralized system. this will be very beneficial when crypto is completely free from centralization.
It still cannot be confirmed that the NFT will definitely disappear once the hype surrounding it is gone but for now NFT aside from the hype, I don't see any benefit it could offer. NFT is also a new trend so we need more time to accurately evaluate.
Defi, I really appreciate its importance in crypto, I think it will be an integral part of all blockchain ecosystems. As the need for decentralization grows, Defi will grow even stronger in the future.
April 21, 2022, 09:13:16 AM
Even today, most DeFi projects are not decentralized. You can buy an NFT token, but it may be banned from sale on the largest known exchanges, or your tokens may be blocked.
When most people talk about DeFi, what they don't know is that many will fall into various traps from regulators.
When most people talk about DeFi, what they don't know is that many will fall into various traps from regulators.
April 21, 2022, 06:42:44 AM
~
The way I see it, asking for this type of decentralisation is like asking for absolute freedom which is wrong in so many levels no matter where you look at it. There needs to be some limitations and I am thinking you probably already know why. That is the main reason though as to why we may not see a platform that can offer an absolute anonymity towards it's users. All we can do now is choose the better ones that have lots of benefits and can also offer at least good enough decentralisation to it's users.
April 21, 2022, 05:51:07 AM
On the long run many scam defi projects will be born, if Bitconnect could get so big in its time imagine another Bitconnect today with its own NFTs, many defi projects will be useless and so their NFTs too, on OpenSea there are millions of unreasonable NFTs for sale, we just have to be careful in this whole race, anything apart from BTC I won't devote my all for.
April 21, 2022, 05:46:07 AM
Defi and NFTs will not only be important elements in the cryptospace, I reckon Defi will be the main element that will serve as basic infrastructure for all digital items created in the cryptospace. This will include NFTs as mentioned and will also serve cryptocoins like Bitcoin, Ethereum, other altcoins and stablecoins. Defi can also serve casinos, DAOs and many other usecases.
Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
DeFi won't be a thing as long as crypto people are using it to run away from regulators when they should embrace and integrate regulations.
For now they work as a proof of conceptbut RegDeFi is where we should be headed. Even Andre Cronje who is basically the godfather of DeFi wants to focus on regulation focused projects now.
https://www.coindesk.com/tech/2022/04/19/defi-developer-andre-cronje-teases-new-regulation-focused-crypto-projects/
Here's a project that's currently furthest ahead in tech and Regdefi:
https://www.youtube.com/watch?v=LqDTGk6yuBg
NFTs on the other hand can be used for lots of things.
April 20, 2022, 11:50:03 PM
The idea of decentralized finance may be good and very promising, but the prevailing question until today is that which particular decentralized platform in the whole wide defi space is truly decentralized? It is easy to claim decentralization, but upon investigated very closely, will there be any single defi project that is really decentralized?
The idea of decentralization is that there won't be any single point of failure. Looking closely at defi projects, could we give at least a single defi project that doesn't have a single point of failure?
The idea of decentralization is that there won't be any single point of failure. Looking closely at defi projects, could we give at least a single defi project that doesn't have a single point of failure?
I have a similar criticism and have created threads about them a few times. What I can tell you is it is arguable for both sides between if someone replies yes and no. Where would you argue for if you think there is a single point of failure?
In any case, this thread is not about that argument. It is an argument about Defi as infrastructure for digital goods, fungible or nonfungible.
This might be a antagonistic opinion, however, I reckon the NFT market might become more popular than the fungible cryptocoin market. The cultural value of NFTs appear to be very underestimated by much of the users in the cryptospace.
Also, to the skeptics of Defi as an infrastructure for digital goods. 2 years ago I might agree, however, similar to bitcoin's skeptics, the skeptics of Defi who say it will die in a few years will also be proven wrong.
April 20, 2022, 10:59:52 PM
Decentralized Finance (DeFi) for me is the major one for sure.
In the beginning, seems DeFi is no use at all but look at now how it is helping our finance right now, Decentralized Finance (DeFi) solves a lot of problems in current traditional finance, for sure we are still early for it.
Smart contracts is really the player when it comes to DeFi, especially since we are still growing, lot of different chains that already adopting DeFi, it will help to lure more people that will start to explore Decentralized Finance (DeFi).
In the beginning, seems DeFi is no use at all but look at now how it is helping our finance right now, Decentralized Finance (DeFi) solves a lot of problems in current traditional finance, for sure we are still early for it.
Smart contracts is really the player when it comes to DeFi, especially since we are still growing, lot of different chains that already adopting DeFi, it will help to lure more people that will start to explore Decentralized Finance (DeFi).
April 20, 2022, 09:10:16 PM
The idea of decentralized finance may be good and very promising, but the prevailing question until today is that which particular decentralized platform in the whole wide defi space is truly decentralized? It is easy to claim decentralization, but upon investigated very closely, will there be any single defi project that is really decentralized?
The idea of decentralization is that there won't be any single point of failure. Looking closely at defi projects, could we give at least a single defi project that doesn't have a single point of failure?
The idea of decentralization is that there won't be any single point of failure. Looking closely at defi projects, could we give at least a single defi project that doesn't have a single point of failure?
The whole crypto space is full of flaws, btc has a lot of it and people hold it in high esteem. for now there is nothing that is 100% right as far as crypto and defi is concerned but it is a work in progress, the space is young compare to the traditional finance, even that is not 100%.
of course you can't get a complete decentralize finance especially not when government regulations are breathing down your neck but there will be a level of decentralization that allows individuals to have certain control over their assets unlike the traditional way. Failure gives room for perfection
What are the flaws of Bitcoin, by the way? Especially in terms of decentralization, does Bitcoin have a lot of flaws? I think the main reason why Bitcoin is held in high esteem is that it is probably one among less than handful, perhaps the only, truly decentralized coin in the whole cryptocurrency market.
Again, decentralized finance is a good thing, a great vision to be exact. But how many tens or even hundreds of billions are already lost out of these decentralized finance platforms?
April 20, 2022, 01:41:25 PM
Cryptocurrency is developing, now defi, nft and much more are appearing, I used to be skeptical about defi and it was hard for me to understand the essence and implementation of this development sector, but over time I realized that a widely developing element in cryptocurrency that will bear fruit for the future.
April 20, 2022, 11:54:01 AM
as from my own understanding the use case of both defi and NFT are kinda countless they could be taken advantage of for many things its just most of us haven’t found some of its use case that’s the reason it’s still limited in certain fields
but in the future these two technology definitely gonna find its additional usages getting us in other level of efficiency.
I always think that maybe the current society and infrastructure isn’t enough in terms of embracing the true automation that these two technologies could bring and maybe its gonna strive more in the future once we have the right resources and society for achieving more advanced civilization, my statement being these technologies gonna be a lot more useful in the future.
but in the future these two technology definitely gonna find its additional usages getting us in other level of efficiency.
I always think that maybe the current society and infrastructure isn’t enough in terms of embracing the true automation that these two technologies could bring and maybe its gonna strive more in the future once we have the right resources and society for achieving more advanced civilization, my statement being these technologies gonna be a lot more useful in the future.
April 20, 2022, 07:23:22 AM
Well by reading your thoughts it seems that you have involved in crypto from very long time.
Yeah in my view, you are right, many DeFi platform, wait i thought every platform is defi but after investing some time in crypto i realized that the platform which claims to be defi are not centralized now.
But there are still many defi platforms, to make anonymous transaction.
Yeah in my view, you are right, many DeFi platform, wait i thought every platform is defi but after investing some time in crypto i realized that the platform which claims to be defi are not centralized now.
But there are still many defi platforms, to make anonymous transaction.
April 20, 2022, 07:18:41 AM
What will we benefit from having 100 projects or 1000 projects? Increasing the number of projects that cover one idea is not a good thing, especially in an uncontrolled market where everyone aims to make a quick profit.
Decentralized finance as an idea is good, but as an application, all models fail to be decentralized and therefore are high-risk financing that will soon become useless if a new wave of updates appears, just as happened with models such as hardforks[1], ICO[2], IEO[3],...etc.
Therefore, do not bet economically on its continuity.
[1] https://en.wikipedia.org/wiki/Fork_(blockchain)
[2] https://en.wikipedia.org/wiki/Initial_coin_offering
[3] https://en.wikipedia.org/wiki/Initial_exchange_offering
Decentralized finance as an idea is good, but as an application, all models fail to be decentralized and therefore are high-risk financing that will soon become useless if a new wave of updates appears, just as happened with models such as hardforks[1], ICO[2], IEO[3],...etc.
Therefore, do not bet economically on its continuity.
[1] https://en.wikipedia.org/wiki/Fork_(blockchain)
[2] https://en.wikipedia.org/wiki/Initial_coin_offering
[3] https://en.wikipedia.org/wiki/Initial_exchange_offering
April 20, 2022, 06:58:29 AM
Defi and NFTs will not only be important elements in the cryptospace, I reckon Defi will be the main element that will serve as basic infrastructure for all digital items created in the cryptospace.
yes that would be important, but that's why there are a lot of shit projects in the cryptospace. there are many rugpull projects and on average they are defi projects. from 2020 until now there are countless, I don't even care anymore because too many defi scam projects are being released. The concept of decentralized finance is indeed very innovative, but this progress is being misused by those who only want to get money from investors. so the greatest potential of defi was never developed. in the end it will just be an innovation that doesn't really help.
April 20, 2022, 06:48:56 AM
Well what do you expect? they are the latest hype so there is enormous possibilities for now. You can call it 10x-100x projects, but not all of them though. Investors seems to be very picky as they mature in the last 5 years.
And with that, if there will be a new found hype let's say in the next 2 years or so, maybe just a couple of Defi or even NFT's will survived.
And with that, if there will be a new found hype let's say in the next 2 years or so, maybe just a couple of Defi or even NFT's will survived.
April 20, 2022, 05:46:24 AM
Excellent observations. The synergy of both, I believe, is changing the crypto space.
April 20, 2022, 05:02:05 AM
I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
nft for long term? I don't agree about this. nft is profitable when it's hype, but once the hype dissipates slowly the price floor goes down. and it will hurt whoever holds it in the long term. but using defi for cryptospace base. it's worth trying. if this works, we will really not need a centralized system. this will be very beneficial when crypto is completely free from centralization.
April 20, 2022, 02:57:24 AM
The idea of decentralized finance may be good and very promising, but the prevailing question until today is that which particular decentralized platform in the whole wide defi space is truly decentralized? It is easy to claim decentralization, but upon investigated very closely, will there be any single defi project that is really decentralized?
The idea of decentralization is that there won't be any single point of failure. Looking closely at defi projects, could we give at least a single defi project that doesn't have a single point of failure?
The idea of decentralization is that there won't be any single point of failure. Looking closely at defi projects, could we give at least a single defi project that doesn't have a single point of failure?
The whole crypto space is full of flaws, btc has a lot of it and people hold it in high esteem. for now there is nothing that is 100% right as far as crypto and defi is concerned but it is a work in progress, the space is young compare to the traditional finance, even that is not 100%.
of course you can't get a complete decentralize finance especially not when government regulations are breathing down your neck but there will be a level of decentralization that allows individuals to have certain control over their assets unlike the traditional way. Failure gives room for perfection
April 20, 2022, 02:44:23 AM
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
there are already projects like that, defi which has staking services, dex, nft and others. but nothing has really worked and lasted long. projects like that are good at the start because of the hype, when the hype fades defi projects like that will disappear and become a dump. so your speculation about a 10x 100x increase will never come true. in fact it is very difficult to find those projects in the marketcap top 100 list, because in the end they never last long.
April 19, 2022, 11:21:15 PM
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
Yes for some projects. There are already many projects on the defi and nft that do more than 100x and luckily those people who got in. For nfts, there are azuki, bayc, mayc, doodle, invisible man, and many more. I am not fond of nft with the value on art rather than a use case preferably on gaming which like axie and other nfts that walk around gaming of metaverse.Well on defi products, there are plenty of choices that has potential, we just need to discover which one is suited our apetite.
April 19, 2022, 10:59:45 PM
Defi and NFTs will not only be important elements in the cryptospace, I reckon Defi will be the main element that will serve as basic infrastructure for all digital items created in the cryptospace. This will include NFTs as mentioned and will also serve cryptocoins like Bitcoin, Ethereum, other altcoins and stablecoins. Defi can also serve casinos, DAOs and many other usecases.
Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
I agree from Defi perspective! Defi is definitely great and with the increase surveillance from the government agains crypto users, Defi is going to be benefited because people will want to move to a non-centralized ecosystem made for crypto.
But I don't have the same thought for NFTs. This is a marketing buzzword and pure hype without any utility. People are making money in NFT that's why everyday more and more people are flocking to NFT market. But it will dry out sooner than later. When the hype is gone, people will sit on monkey pictures that they have purchsed by soensing millions of dollars.
April 19, 2022, 10:13:37 PM
Defi and NFTs will not only be important elements in the cryptospace, I reckon Defi will be the main element that will serve as basic infrastructure for all digital items created in the cryptospace. This will include NFTs as mentioned and will also serve cryptocoins like Bitcoin, Ethereum, other altcoins and stablecoins. Defi can also serve casinos, DAOs and many other usecases.
Although they will exist and gradually become important components in crypto ecosystem, there will be small parts of DeFi and NFT projects will survive with market bearish test. Because most of them are created with unsolid idea and models so the longer they run, the weaker they become. The bigger their platform becomes in hype period of bull market, the more vulnerable they are in bear market because crash will be bigger.Quote
Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking.
DeFi and NFT projects and ecosystems must create good economies themselves. If they can not do this, their ecosystems will collapse because when new users won't join, the momentum of growth will be broken that will trigger reveal of their weaknesses. When investors realize about that, when price start to collapse, it won't stop and can not be stopped. April 19, 2022, 09:28:45 PM
The idea of decentralized finance may be good and very promising, but the prevailing question until today is that which particular decentralized platform in the whole wide defi space is truly decentralized? It is easy to claim decentralization, but upon investigated very closely, will there be any single defi project that is really decentralized?
The idea of decentralization is that there won't be any single point of failure. Looking closely at defi projects, could we give at least a single defi project that doesn't have a single point of failure?
The idea of decentralization is that there won't be any single point of failure. Looking closely at defi projects, could we give at least a single defi project that doesn't have a single point of failure?
April 19, 2022, 08:05:12 PM
Defi and NFTs will not only be important elements in the cryptospace, I reckon Defi will be the main element that will serve as basic infrastructure for all digital items created in the cryptospace. This will include NFTs as mentioned and will also serve cryptocoins like Bitcoin, Ethereum, other altcoins and stablecoins. Defi can also serve casinos, DAOs and many other usecases.
Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.
In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.
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