Is DeFi hype the same as ICO hype in 2017?

[bubbalex]

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 👇

[ShadowCrypto]

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. 

[trauchot]

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.

[MrSpasybo]

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.

[Joyjoyce0]

DeFi is quite different from ICO in my own opinion. DeFi has love application not just a means of fundraising

[alltalk]

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.

[debra]

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.

[vanjava]

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.

[nita23]

Personally I think DeFi can blood in time, but don't know , learned from some of the last years ICO better be careful

[aji678]

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.

[Andruha1993]

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.

[pelana vreo]

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

[Fenix]

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.

[bubbalex]

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.

[LogiC]

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.