He isn't investing in the one rally normies have been missing out on
> Never gonna make it
You have 15.3 seconds to explain DeFi and proof that you're not a normie.
DeFi
Brayden Hughes
Other urls found in this thread:
twitter.com
tokensets.com
coindesk.com
decrypt.co
bzx.network
pooltogether.us
blog.kyber.network
defisaver.com
investopedia.com
en.wikipedia.org
twitter.com
Nathaniel Martin
i'm in link so all these faggots are going to end up paying me
feels good man
Angel Baker
You don't invest in defi. You utilize defi to create collateralized positions and then lend.
Normies will never buy in, because even then the lowest possible IQ explanation of how to engage in defi is beyond them.
Defi is a big brain ponzi scheme game of pass the hot potato.
Landon Harris
Brandon Wood
BWUAHAHAHA
Ian Taylor
defi is real adoption, and we're early.
like btc in 2012 early.
Brody Richardson
DeFi is the single best real world use case we have so far that normies will actually get behind once they realize the ROI on lending DAI/USDC. let's have an intelligent conversation about projects in this space
Brandon Clark
quad checked my dude
also probably not going to have intelligent conversation because too many people want to see these projects fail out of blind greed and hatred. mostly bitcoin maxis who hate to see other projects coming close to dethroning the king. truth is bitcoin is centralized. super sad. luckily the market doesnt agree with the haters.
Jason Allen
>tokensets.com
paradigm looks interesting sir. i've been looking into fulcrum.trade and bZx protocol
James Price
sacred quads.
> let's have an intelligent conversation about projects in this space
What projects are currently still swimming under the radar?
Carter Mitchell
bzx.network
Kevin Thompson
nice havent used fulcrum yet but im going to be placing an order soon. ive been using DyDx pretty much daily. Theres also pooled together pooltogether.us
Michael White
also been researching synthetix which another user mentioned yesterday. regarding fulcrum: #Fulcrum is now the #2 dApp on Kyber after only three months. Fulcrum accounted for 20% of Kyber's DeFi volumes last month. We saw a 38% jump in ETH volumes (5.8k->8.1k), despite DeFi volumes falling 28% last month. blog.kyber.network
Noah Torres
pic related. onchain zksnark mixers
Aiden Evans
no reason the BTC and DeFi can't coexist. crypto is a cohesive ecosystem, when one succeeds everyone wins. we need to move past childish bullshit and think bigger
Levi Powell
>lending
thats how i know its a scam
BITCONNECT 2.0
Jonathan Hall
>ROI on lending DAI/USDC
It will decrease as more people know about it.
Tragedy of the commons.
Josiah Phillips
Remember how Bitconnect flew under everyone's radar for almost a year? And most that invested in the early days made more bank than those who invested into BTC. Yeah I remember. You just have to get out before the pyramid collapses, and you'll be golden. Literally.
Jaxson Torres
Well the only issue with all this is trust. Can we trust the code to be bulletproof? To this day it looks like so but who knows if the rest of the world will buy in
Benjamin Clark
Deflationary tokens should count as defi, they're as much defi as stablecoins that don't stay stable>>lending
>thats how i know its a scam
the people who use the word scam are usually the dumbest in crypto
You think lending is a scam. You definitely don't own MKR then.
Deflation is a scam, lending is a scam, btc is a scam, ETH, NEO, TRX, EOS are all scams too but I'm still in profit on every single token, i only started buying alts in jan 2017
Blake Edwards
we can't, just look at the DAO hack and the other smart contract fuck ups over the years. Most of them had been not only reviewed, but audited by the most knowledgeable people in the scene. Just to have the contract broken by some miniscule edge case fuck up that wasn't accounted for. Right now everything about this is the wild west, and you're playing Russian roulette. But if you can miss the money and can spread the risk you have quite some leverage on your finances in the near future.
> the people who use the word scam are usually the dumbest in crypto
Yep.
Collateral lending is one of the earliest banking mechanisms to date, it's just being represented in smart contracts now. It is a lot more valid than an actual loan from or to a bank, because you can now verify that the money you are lending to someone is being backed by its actual value. Go to a bank and ask them to produce the paperwork that shows you how and were your money is backed against. You'll either get laughs or 5000 pages of paper work that is indecipherable to fuck with you intentionally.
Jaxson Morgan
>if im in profit it means its not a scam
Connor Thompson
You are literally a retard this is nothing like bitconnect and OP is 100% correct. All defi is is various financial products you find in the real world but built onto of blockchain. Things like collateral backed loans/margin for now but will expand to many other use cases and experience exponential growth. Soon we'll see more robust ynthetics which will enable someone to put up crypto collateral to create synthetic exposure to something like Apple or Amazon stock, then bonds/t.bills, then carbon credits, then shares of reits and slices of debt on a 30m apartment building then this then that etc etc. Once a secure and decentralized oracle network is up and running that securely feeds data from legacy systems to blockchain world you'll be able to wrap literally anything.
Now, if we only knew a project that could facilitate this
Leo Hill
maker
legit post. but ill tell you i work with private code and we make mistakes with payroll data every day. oops! just as much risk as anywhere im afraid. of course we just tell the users they have to wait weeks to get pay check
Christian Davis
Honestly I'm above average in crypto and don't really get defi is it like sofi yes?
Owen Peterson
You can make like 20% a year in interest, it's no 10x don't get your panties in a wad
James Cook
Synthetix is offering synthetic contacts, but it is kind of sketchy that their sUSD is backed by SNX only. It would be as if MakerDAO would be backed by MKR only. Still they do have a quite interesting use case. I'm riding their rally, but damn, I won't be surprised if their system blows up in spectacular fashion. They are soon adding AAPL, TSLA and 10x leverage on their synthetic contracts m
Elijah Johnson
We need synthetic credit default swaps on these loans. Kek.
Anthony Ramirez
great idea actually i read atomic credit swaps are being worked on by the likes of defisaver.com
William Foster
No sofi you're still going through a banking org technically. they've bridge people looking for money with people willing to lend, but it's still getting run through legacy systems.
Defi is truely peer to peer, and it's done via smart contracts in the, for now, closed world of blockchain. but that is changing rapidly
Wyatt Wright
Yes that's what I mean it's just a decentralized sofi?
Regardless the future is her I can't wait to be able to get a decentralized mortgage
Robert Kelly
I had a long conversation with Bill the CEO of Abra at the beginning of the year and got on the early bird list for the synthetic's they were rolling out but at the beginning of summer he informed me they had to put US based people on hold to some regulatory things. I believe they are available for their oversee customers, with us coming online eoy or beginning of next.
They'll have something like 100 of the largest stocks and most popular retail stocks to start
Christian Fisher
researched a bit into synthetix earlier today. it seems like such a great concept but the regulatory aspect concerns me a bit. i know trades are purely done via smart contract so no P2P trades, but what's stopping govt from stepping in and shutting it all down? tokenizing equities like TSLA and stuff?
Jacob Smith
> but what's stopping govt from stepping in and shutting it all down? tokenizing equities like TSLA and stuff?
Literally nothing. They should be racing to decentralize the fuck out of it like Augur is doing. Because currently there exists no precedent for this; and just because you aren't executing trades P2P doesn't mean you may not piss off regulatory authorities and have them turn you in the first precedent. Even EtherDelta got hit by the SEC. Just because we are in Crypto and ~decentralized~, doesn't mean the devs aren't untouchable.
But you'll be shitting gold if these systems remain untouched and manage to take off in a decentralized fashion. So far, we haven't seen that yet, it really could go either way. All of this is the Cypherpunk dream though, it will happen, but is this the timeline? Nobody knows, maybe we need more iterations and some actual failures before one system comes along and does it all right. Bitcoin did spark of from a multitude of centralized attempts to digitize money.
Nolan Roberts
> Bitcoin did spark of from a multitude of centralized attempts to digitize money.
investopedia.com
en.wikipedia.org
I am off to wagekek for more funny money to throw at crypto.
Keep the discussion alive.
Jose Richardson
I’ve been starting to get into DeFi for the past couple of months now. Funny how it isn’t discussed more on biz, but I’m happy to see this thread. It’s starting to ramp up so much we’ll need a daily general thread on it pretty soon
Levi Foster
theres a group of individuals on here trying to keep the legit discussions down using PSYOP
Gabriel Brooks
daily general thread is good idea. it's perplexing to me why this board hasnt really talked about DeFi at all as well..
Jose Stewart
OP here while wagekking. Get a daily started and I'll contribute and help to keep it active throughout the day. I've been promoting DeFi projects since the OG days of MakerDAO, but only a few anons were listening through all the pajeets spamming. DeFi will be different since its all gonna rely on Chainlinks oracle's anyways. The board is due some diversification still tied to sergeys network effect.
Liam Torres
I have 40k eur in nexo
100k usd in stablecoins in celsius
200 BCH also in celsius
weekly dividend is paid in CEL, I send it to Liquid immediately to convert into more stablecoins.
It's genuinely good shit and a much better store of value than bitcorn.
Leo Wilson
P.S. Interesting suggestions in this thread, keep em coming.
Anthony Powell
>the people who use the word scam are usually the dumbest in crypto
sounds like something a scammer would say
In bitconnect you gave your money away to an organization and hoped they'd give you something back
in defi, your assets are transparent and controlled by a smart contract, not only that but your "gains" are also transparent, the rates aren't set in stone, and you get paid from loan fees.
There's still a matter of trust though, MKR for example have oracles, I imagine other services do too, those components aren't trustless. While there's a risk, it's not a risk of insolvency like with bitconnect, but a risk of foul play, which I wouldn't consider too big, far less big than in bitconnect. Stealing from defi exploiting the oracles, would have to be extremely elaborate, an inside job, would leave a long trail in the public ledger, and would be detected in seconds because the system is public.
Also bitconnect offered like >100% annual, when defi platforms don't go over 20%, closer to 10.
Kayden Morales
OP, where are you lending besides compound?
I think Reserve is gonna be huge for DeFi. Obv I hold rsr - not shilling, just counting on a scalable stablecoin being necessary for DeFi to grow beyond the niche it has now.
Dylan Adams
Holy shit imagine fee-less balance transfers.
If crypto is good for one thing it's reduction of fees.
Christian Fisher
tfw only hold half a mil of RSR.
I'm defo stacking up before mainnet.
Leo Rivera
Get a daily going yo 0/
Ian Edwards
A Ponzi scheme trying to hide it is a ponzi scheme. Like with all Ponzi schemes, good luck, but most of you will probably be bitconnected
Daniel Peterson
Where does one buy defi tokens?
Kayden Davis
Sounds risky... How much of your nw is this?
Brayden Hernandez
Synthetix and MakerDAO to make it one year from now.
Kayden Bailey
You don’t need the token to use DeFi lending/borrowing platforms or to margin trade on things like fulcrum.trade or compound.finance - Just link up metamask and use eth/dai/usdc/etc.
Isaac Foster
Maker is shit. They adversite low interest rate then raises the rates on new loaners.
Defi is just a worse version of current finance atm.
Nolan Long
Sacred quads posting from cell phone here. Yes there is always the question of just how decentralized the DeFi platform is and the level of mutability/control devs have on the back end over smart contracts. The good devs obviously are very transparent and are moving towards full decentralization rapidly with robust governance models. At this stage I can’t say for sure which ones are at that point yet. Google “black swan event” , there is risk with all investments especially crypto. But DeFi remains the most promising development out of crypto that I’ve seen so far
Evan Sanchez
Best way to capitalize on DeFi is buy Chainlink
Colton Nelson
>Defi is just a worse version of current finance atm.
borrowing sure, but lending gets you good rates -its still ridiciously early more defi dapps will come out
Thomas Hernandez
most borrowers are margin trading at this point i think
Jayden Kelly
for now sure, but this is still finance right; we're coming in through the sector where trading is still dominant. But banking this way is feasible; a standard bank can be replaced by a set of smart contracts; even trustless mortgages. The only thing we don't have for adoption are decent off ramps...and unironically, oracles. At this point its not really a question of 'if', but definitely 'when'. It could still be years, or this current rally. If you can see the potential DeFi does have, it's best to get familiar and into a position early :)
James Sanders
agree with you 100% on all points. when it comes to the question to "when?" i'm inclined to believe sooner rather than later. just a cursory look at the state of the global economy, currencies, interest rates, etc is enough to make anybody with all their chromosomes start looking into better alternatives. the problem is crypto is still in it's infancy, normies likely wont adopt DeFi yet. we're here first bizfrens
Adrian Evans
I know effort ain't our strength, but at least someone start a Discord so we can get a daily going. We should organize somehow, all things considered it is incredibly early. Just imagine the information that could be gathered from a daily while others have no clue, and fake projects enter the scene to profit just from the hype.
we could operate like an autistic think tank.
And some whales could splash I guess.
wud be nice
v nice
Adrian Miller
bump for intelligent gmt+6 > 12 posters
Nathaniel Scott
Kyber, but idiots won't pay attention
Tyler Rodriguez
The fat man says eoy. Though still a ways off from tokenizing property/vehicles...or making boomers fully recognize SC as legally binding agreements irl.
But soon enough this won't be a redditnigger buzzword, but an actual vector to exterminate traditional ursury (and those who practice it)
Luis Hernandez
Kyber is a good one. Anons should check out www.defiprime.com and do research. I’m all for a daily DeFi thread as well
Liam Martinez
Defi Pulse has some really cool dapps on there. Most of these are still in beta or too early but in a few years it could be billions of worth using these dapps for various things. Really promising and 100% need Link for oracles eventually.
Nicholas Foster
Kyber had a shot at becoming the leading DEX and they blew through laziness, dead in the water now.
Parker Foster
I hope you're joking and you're not truly this retarded, Kyber is not a DEX, KyberSwap is a DEX that uses Kybers liquidity, including many other DEXs and DeFi apps.
They've solved the liquidity problem, and all decentralized financial apps will bend the knee, if you can't see this you're not paying attention and instead listening to shit fud and shills.
Lincoln Green
Allright I'll set up a daily tomorrow or the day after if nobody else cba
Joseph Rogers
My man. Make it happen, I’ll be there