Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: bubbalex on August 25, 2020, 06:56:24 PM
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In 2017 was the peak growth of crypto, it attracted many new users in the industry, many later left it after the deepest correction, but some have learned to earn and successfully entrenched in the blockchain industry since then, eg your bounty manager bubbalex ;)
Most users invested blindly in everything, there were a lot of identical and/or useless projects, everyone just heard that you can earn a lot and easy and tried to repeat this success. According to statistics released later, 44% of ICOs of 2017 were a scam.
Now the same thing is happening with DeFi, in my opinion. The success of several DeFi projects gave rise to a whole new milestone for the Blockchain projects. Most users who are disappointed with the long correction of the market finally believe in the bull market again and want to repel their losses and/or increase profits. In 2017, you could add the word Blockchain to the name of your project and collect a lot of money, now the same can be done by adding the word DeFi.
I don't mean that all projects are bad and they will fall, but I want to warn people. Despite the fact that in 2017 there were many good ICO projects that have been successfully developed so far, and now there are many good DeFi projects that will be developed in the future, most projects fail. Do not invest blindly in everything that is popular, understand the potential risks, think yourself and never follow others, it's your money and time.
I believe in blockchain technology, decentralization and decentralized applications and finance, but I'm extremely cautious about any hype, because when a hype runs out, some projects will close instantly and it's impossible to guess in advance whether you chose the right one. What do you think about DeFi? DApps are already proven themselves, will DeFi prove themselves too? Share your thoughts below 👇
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Yes, Defi if the new crypto hype, we need to be careful, will not take so long to the first Defi scam project appears, like happened with the Icos, it's just a question of time to something bad shows up in this Defi scenario. :'(
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Perhaps this is the case, because once ICO attracted a huge number of people to cryptocurrencies and now DeFi does the same, so always invest in cryptocurrency projects wisely.
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ICO is a new and effective investment method, many teams have raised enough capital to develop and realize their ideas, for example Ethereum. However, the ICO was abused in late 2017 by teams with poor competence or fraudulent intentions.
DeFi is like that, DeFi is our common purpose in the crypto economy, many DeFi projects have existed since 2018 and are developing very well. However, many new DeFi projects have emerged with a simple idea, with almost no valuable solution at all. It is almost certain that the new HYPE of 2020 will be DeFi.
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DeFi is quite different from ICO in my own opinion. DeFi has love application not just a means of fundraising
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Well, you may be true because both ICO in 2017 and current Defi are based on the Hype. Something like this cannot survive a long time and the Hype probably disappeares sooner or later. I can say that investing in Defi currently has the same risk as investing in ICO project in 2017. It may work at the beginning but after that we will see many low quality Defi projects which only take advantage of the Hype.
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The hype seems the same but I think Defi isn't really 100% the same with ICO in 2017 if we consider the way in developing the project. I think Defi is much better than ICO in 2017. Defi has a clear concept and it becomes hype as it really offers a new concept for financial. While ICO in 2017 seems only hype because of the big expectation among people only.
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Yes, I think defi will be hype like other ICOs in 2017, but all that requires a definite process, and I believe the process will run smoothly and the price will go up.
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Personally I think DeFi can blood in time, but don't know , learned from some of the last years ICO better be careful
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the sensation is the same but Defi is currently popular, I saw a lot of DeFi projects emerging and they were able to prove that this will be an alternative ICO in 2017. This is very interesting about DeFi, don't waste the DeFi project.
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Yes, it also seems to me that this is a new hype. Therefore, while everything has begun, you can make good money on it. And then, already in a hurry, it will be seen whether all this is deception or not.
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For people who are new to crypto, DeFi may be relatively new but in simple terms, the use of blockchain, cryptocurrency and smart contracts is embedded in providing financial loan services to clients with the aim of simplifying the transaction system which makes it more secure.
From several articles that I have read, there are many platforms apart from MakerDAO and EOS REX that offer credit through decentralization, I think the hype has an effect on the current DeFi project, many new investors who want to have more crypto assets to invest in DeFi projects because of this project looks good, besides that the DeFi project makes it easy for the financial system and loan system, investors can choose the length of the loan duration from the number of altcoins they have, this is a big progress to attract new investors into the world of crypto
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DeFi projects are significantly different from almost the first ICO projects that were in 2017. I still like DeFi projects because they perform the direct functions of banks and take away their profits from them. This has never happened before. Banks have always been in a privileged state, being protected by the state. They are now facing a real challenge from DeFi.
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ICO is a new and effective investment method, many teams have raised enough capital to develop and realize their ideas, for example Ethereum. However, the ICO was abused in late 2017 by teams with poor competence or fraudulent intentions.
DeFi is like that, DeFi is our common purpose in the crypto economy, many DeFi projects have existed since 2018 and are developing very well. However, many new DeFi projects have emerged with a simple idea, with almost no valuable solution at all. It is almost certain that the new HYPE of 2020 will be DeFi.
Agree, the technology itself is good, But already now we can observe more and more projects being launched not to solve real problems and develop the industry, but to have time to raise more funds before the hype is lost.
DeFi is quite different from ICO in my own opinion. DeFi has love application not just a means of fundraising
It is a means of fundraising as well, most DeFi projects are doing fundraising on Uniswap.
The hype seems the same but I think Defi isn't really 100% the same with ICO in 2017 if we consider the way in developing the project. I think Defi is much better than ICO in 2017. Defi has a clear concept and it becomes hype as it really offers a new concept for financial. While ICO in 2017 seems only hype because of the big expectation among people only.
ICO was offering new concept for finance as well and it was a good technology same as DeFi is good technology, the problem is how people use these technologies.
DeFi projects are significantly different from almost the first ICO projects that were in 2017. I still like DeFi projects because they perform the direct functions of banks and take away their profits from them. This has never happened before. Banks have always been in a privileged state, being protected by the state. They are now facing a real challenge from DeFi.
Whaaat? The whole blockchain is created to take money from banks to the people, bitcoin was created in 2009, so it's definitely happened before current DeFi hype, in terms of word definitions DeFi is decentralized finance and the very first crypto asset (bitcoin) is decentralized in nature. Nobody invented DeFi in 2020; now they just enhance the technologies that were the basis of the very first crypto project. That's why I think DeFi is overhyped, they pretend like they are completely new, but they are not, it's just logical continuation of the industry development.
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DeFi projects are significantly different from almost the first ICO projects that were in 2017. I still like DeFi projects because they perform the direct functions of banks and take away their profits from them. This has never happened before. Banks have always been in a privileged state, being protected by the state. They are now facing a real challenge from DeFi.
Agreed. Same compliment and positive outlook on defi, what I dont like is the similarities on ICO of 2017 that some projects are taking advantage of the scenario and hype doing a scam exit. Process now is much faster compared to the ICO which dont have uniswap approach. I think we can ve more secure if there is a platform auditing the defi projects being out everyday.
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DeFi is an alternative for investing, even this DeFi has a sizable volume in the market. DeFi brings changes in the development of blockchain technology. DeFi is an investment in the future that will probably be hype like ico in 2017. All investments have risks, so we must be smart in making decisions.
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I think Defi is the hype that needs to be chased. Since you can make very good money. Therefore, you must not miss your chance.
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During 2017, there were many projects that were listed on the top exchanges. They must have been successful. The project will die if hyped. I don't think there has been much success since the current 2017. The reason for success is because of fraud and scams. Various projects have not been successful due to fraud and scams. He left the market with a lot of money. But currently being successful. People have started blindly investing. Because he wants to make up for his loss. Team can cheat. So people are investing despite being risky. Everyone be careful, you invest your money carefully.
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DeFi and ICO are different concepts in cryptocurrency that aims to ultimately finance project activities. So they are the same
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We must be cautious as what you said.
Be aware not to repeat the lost back on 2017. DeFi might be the trend now. But one thing for sure; real, unique, and consistent DeFi projects will remain in crypto sphere. Weak and scam DeFi projects will fade slowly or suddenly. Be cautious always.
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There is no doubt that the current DEFI trend can be compared to ICO in some ways but DEFI is bigger than ICO in many ways. DEFI is what is called have a skin in the game. This would drive the market to Trillions of USD. The good thing now is that most of the projects in the DEFI space already have a working platform or have shown MVP, this is very good unlike 2017 that all you need is just a marketing whitepaper and you have your $20 million or more
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Although there is a systematic difference between the current DEFI with the ICO of 2017, I do not see any difference in terms of results. Talking about blockchain system in 2017, many bad projects come with good projects. At that time various projects could not succeed due to fraud and scams. There are still many scandalous projects coming to market under the name Daffy; The outcome, I think, will be the same as in 2017.
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Defi is a huge attraction of the market. Currently many people are interested in investing in Defi. Because investing in DeFI projects is making a huge profit. However, many people are suffering by investing in blockchain for some time. But they invested in the wrong project. When people are more inclined towards investment sites. But those started in 2017. But it was good. Since 2017, some fake projects have started. In 2017 scamming was more. The amount was further increased. So I think everyone is having a good time at Defi or blockchain.
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In 2017 the ICO project was very popular and attracted a lot of investor interest, but unfortunately this did not last long because of the dirty behavior of irresponsible people, so that many investors were disappointed and left it. And now the Defi project is here and it has given everyone here a new passion. I think this will be a revival of the Cryptocurrency world because the Defi project is better than the ICO project. But even so we still have to be more careful in all matters relating to money, even though the Defi project looks promising.
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Yes, it is kind of similar but we have seen that defi has already put an impulsive or strong boosting effect on the overall crypto market so i assume this defi thing is bigger and market will also perform better than last time this time around.
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Besides good projects doing well, we see fake tokens, we see fundamental flaws, we see a profit loop that causes tokens to rise in price, everything going on with DeFi is almost like translation with ICOs early 2018. Many people spend money on DeFi projects easily because they believe that speaking is a way to generate profits quickly & overcome a pandemic crisis.
It may be a little different between DeFi and ICO, at least on the level of interaction in the ecosystem, but we should still be cautious before joining any project to not lose money during the down-trend phase. .
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DeFi hype already showed as the case of such failure - YAM token failed from 167$ per token to 0,97$ per token for several hours after huge bug was found at their code (https://news.bitcoin.com/defi-yam-token-market-plummets-near-zero-founder-failed/). It is precisely because DeFi is so popular now that their prices are instantly growing, but the real value of new projects has not yet been confirmed and even if in the short term it is possible to earn on a hype, in the long term, many of the tokens can literally depreciate, because they originally should not have cost so much and collect as much money as they collect because of the hype.
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I got your point mate, I think the Defi crazed is just a bubble that destined to explode soon, and it was comparable to the ICO hype in 2017. but not the same size or magnitude because the Defi trend is just slowly fading already and most of the Defi tokens trading price is started to going down and its a sign that the hype is already dying.
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Though many have compare this hype around Defi to ICO in 2017, I feel they are not far from the truth even though the truth is difficult to accept. Personally, I am skeptical about where the boat of Defi is taking us to because everything is happening too fast and people have started to invest blindly just as it was in 2017.
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I think so, every year there will always one hype that attract people to invest in crypto world. Last year there is IEO, ICO, etc. It's just repeated the same hype with different type. Just be careful and enjoy this hype at your own risk.
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yeah, project Defi and ico in 2017 is almost the same today many Defi project that generates a lot of profit, but all can be temporary, not being able to walk in a long time is probably just hype will last 1-2 years all Defi program will have flaws and its advantage if the bitcoin prices down will affect the price of coins Defi I would not be surprised if the project Defi will be short enough hype.
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DeFi projects are significantly different from almost the first ICO projects that were in 2017. I still like DeFi projects because they perform the direct functions of banks and take away their profits from them. This has never happened before. Banks have always been in a privileged state, being protected by the state. They are now facing a real challenge from DeFi.
Agreed. Same compliment and positive outlook on defi, what I dont like is the similarities on ICO of 2017 that some projects are taking advantage of the scenario and hype doing a scam exit. Process now is much faster compared to the ICO which dont have uniswap approach. I think we can ve more secure if there is a platform auditing the defi projects being out everyday.
ICO or DeFi it is still not 100% safe to invest in projects right now. There are for sure a lot of scammers planning to bait investors once again. I saw a meme where ICO is just pretending to be DeFi. When someone plans to put his money on a DeFi cryptocurrency, better make sure that he/she verifies all necessary information. Better choose BTC or ETH to make sure you don't lose big time.
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In 2017 was the peak growth of crypto, it attracted many new users in the industry, many later left it after the deepest correction, but some have learned to earn and successfully entrenched in the blockchain industry since then, eg your bounty manager bubbalex ;)
Most users invested blindly in everything, there were a lot of identical and/or useless projects, everyone just heard that you can earn a lot and easy and tried to repeat this success. According to statistics released later, 44% of ICOs of 2017 were a scam.
Now the same thing is happening with DeFi, in my opinion. The success of several DeFi projects gave rise to a whole new milestone for the Blockchain projects. Most users who are disappointed with the long correction of the market finally believe in the bull market again and want to repel their losses and/or increase profits. In 2017, you could add the word Blockchain to the name of your project and collect a lot of money, now the same can be done by adding the word DeFi.
I don't mean that all projects are bad and they will fall, but I want to warn people. Despite the fact that in 2017 there were many good ICO projects that have been successfully developed so far, and now there are many good DeFi projects that will be developed in the future, most projects fail. Do not invest blindly in everything that is popular, understand the potential risks, think yourself and never follow others, it's your money and time.
I believe in blockchain technology, decentralization and decentralized applications and finance, but I'm extremely cautious about any hype, because when a hype runs out, some projects will close instantly and it's impossible to guess in advance whether you chose the right one. What do you think about DeFi? DApps are already proven themselves, will DeFi prove themselves too? Share your thoughts below 👇
Its good to see your post my favourite Bounty Manager. What I think about your question is that many project taking advantages of the situation and raising money. It looks like another 2017 will happens and we have already seen a demonstration through YAM. But there are very good project like DIA which you have managed. I also wants to mention some other project like Oikos, Synthetic, Compound,CRV and some other.
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In my opinion DeFi is the enhancement of financial business structure to reach the people everywhere in this world. The platform goes viral due to futuristic approach that capture and will captivate the mind of technology users.
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In terms of volume of money put into the system, the 2017 ICO had more impact. But for structure and positive future this recent Defi frenzy has more positivity
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Its good to see your post my favourite Bounty Manager. What I think about your question is that many project taking advantages of the situation and raising money. It looks like another 2017 will happens and we have already seen a demonstration through YAM. But there are very good project like DIA which you have managed. I also wants to mention some other project like Oikos, Synthetic, Compound,CRV and some other.
Sure, we have good DeFi project, but there is still high risks. For example, yEarn Finance token YFI already worth 19 130$ (https://www.coingecko.com/ru/%D0%9A%D1%80%D0%B8%D0%BF%D1%82%D0%BE%D0%B2%D0%B0%D0%BB%D1%8E%D1%82%D1%8B/yearn-finance), higher than bitcoin. The coin was issued on July 18, 2020 and started with $35. A month later, on August 18, its price had already reached $12,800, overtaking bitcoin. Today, the token has reached a price peak in the area above $19,000. In a month and a half, YFI rose by 50,000%. A coin that is only a month old is already so incredibly expensive, I could certainly be wrong, but this is the last coin I would invest in, too loud to call it a bubble, but it can't be anything else. Such a young project simply physically can't create such a real value in such a short period of time, this price is conditioned by faith in further growth, not by project development.