/biz/ - Business & Finance

>>24710352
Based

>>24710352
If you buy shitcoins that's on you. Buy legit projects or don't. DeFi is just seeking to replace legacy finance.
It's also a way for your to use Bitcoin as a security for a loan. A bank is not gonna accept your Bitcoin as security, but with DeFi you can take out loans in the hundreds of thousands without selling your Bitcoin

>>24710352
>DEFI = SCAM CENTRAL
Uh no actually it’s scam DEcentral.

>>24710352
shut the fuck up bitch. DEFI is the future. get on board or get left behind faggot

>>24710661
DeFi multiplies the payment risk factor by a magnitude of 1000% and this is why it should never be adopted by mainstream society. It gives the worst scammers on earth a platform for easy ripoffs. Zero verification, zero oversight, a Wild West frontier unleashed.

People like Sergey shamelessly push this fad and make it seem like it's this trendy, hot thing in finance trying to coax investors into fomoing their money. But even he knows it's never going to be adopted because it can NEVER be secured. DeFi will single handedly ensure crypto never gets adopted by mainstream society and will forever be associated with underworld scam gangs and drug dealers.

>>24710352
Uhm, Anon, that’s called a bank

>>24710922
Pretty sure the bitcoiners heard this about crypto back in 2011 kek

>>24711015
(that's the joke)

>>24711015
No, banks are a million times superior to the DeFi scam platforms. Banks actually go out of their way to secure your payments for you whether it's online or in real life. A bank will never tell you to ape in on a rebase stock and then rug your USD so you don't know which banker stole it or who was behind the wallet. But a DeFi platform will do exactly that.

DeFi tokens, DeFi exchange networks, DeFi APIs should be confined to the dustbins of history. I'm absolutely certain that they'll remain unknown and exclusively used by autists and no one in the real world will touch these "revolutionary projects" with a ten foot pole.

#AntiDefi

#FuckDefi

#FuckSergey

#VerifiedCrypto

I love DeFi. I literally farm SUSHI and convert them to DAI then put them on yearn finance and make up to 25% interest. OP you seem like some kind of retard who doesnt give enough gas and has a heart attack then your order doesnt go through. Once you learn a little bit of solidty and get involded in discord youll realize their is a ton of money to be made. Even if you are an absolute retard you could at least follow Andres twitter notifications and buy whatever he mentions for an easy 10% gain. I cant imagine being stupid, but someone you helped me see the light.

>>24711280
you got scammed so defi must be a scam right? i bet youd like dei more if you didnt get scammed but made money off it. all crypto does is expose idiots like you to the fact that all financial industries are built around people robbing each other. the banks just do it in a way that makes you feel safe cause you are slowly rugpulled over the duration of your lifetime instead of all at once.

>>24710922
>It gives the worst scammers on earth a platform for easy ripoffs. Zero verification, zero oversight, a Wild West frontier unleashed.
Good. We should not be subsidizing incompetence. Exposing people inoculates them more to scams than sheltering them. The biggest scams by far in recent years have all been under the most regulated environments. All the regulations accomplish is creating false trust in broken systems that allow scammers like Wirecard, Madoff and Herbalife to extract billions if not trillions both directly from their victims and from us the normal people that are forced to pay for the useless regulations and subsidize the losses.

>>24710352
learn to read code retard
>require(_unstakingFee <= 500, "over 50%");
>oh, Surf.finance can set the unstaking fee as high as 50%
>that means I should not buy this token because the devs have the ability to hold me hostage

>>24711366
>all crypto does is expose idiots like you to the fact that all financial industries are built around people robbing each other. the banks just do it in a way that makes you feel safe
so much this holy shit

Centralised banks are scum mafia that need people to remain in poverty, otherwise they wouldn't have anyone to sell their garbage loans and mortgages. I'd rather be held responsible for my own finances and fuck it all up than have to deal with them.

>>24710352

Absolutely retarded anon, DeFi is the most important thing to happen to GLOBAL FINANCE.

>>24711365
>>24711366
>>24711442
>Hurr durr it makes money therefore = #GREATEPCREVOLUTIONARY fOuRtH iNdUsTrIaL rEvOlUtiOn

Listen here money cultists who can't see the big picture. You know what else makes easy money? Drugs. Yet drugs will never be mass-adopted and will always be associated with the dregs of society and looked down upon. The whole purpose of DeFi defeats security, and if you don't have security you don't have adaptation. Yet, Sergey is robbing investors of billions of dollars on the fake pretense of institutional adaptation.

DeFi brings nothing new to the table and opens up finance to the worst security vulnerabilities that exist under the sun. If you're a DeFi shill, let me ask you one simple question: Would you put your pension on a DeFi token?

I know you love to gamble your little uniswap shitcoins but this is not the way of the future and the direction crypto should be headed in. It should be the opposite CeFi = aka Centralized Finance.

Fuck Sergey and fuck Cronje. DeFi shills are mindless zombies without a head on their shoulders, easily influenced by hype.

>>24712224
Flare is the way, anon. It combines best of both worlds together.

>>24712224
More than 131 million people — 66 percent of all adults in the United States — use prescription drugs. Utilization is particularly high for older people and those with chronic conditions. There goes your drug argument.

Secondly CEFI is retarded as Decred, ask the tax man.

Again this has to do with your IQ. Its like people who say fuck Jeff Bezos or fuck Bill Gates. You can literally take a solidity course and a front end course and make some defi index and get people to lock up their tokens and you reward them with whatever token you create while you collect the true yield generated. DeFi is no different than people losing fortunes in the options market. Some people make a killing trading stocks and build a nice portfolio, and stupid like you lose everything on some chink shit company and complain how the market is rigger. Go to the precious metals thread maybe rocks are easy to understand for you. If you can not spot a shill on this forum then again its your IQ not crypto or DeFi.

The fact you recommend CeFi, a company like Celsisus for example run by a guy named "Machine" literally takes your deposited ETH converts it to DAI on UNI and then puts it in Yearn for 20% interest and then give you 10% is safer to you. GOD YOU ARE FUCKING DUMB MAN. LOL Cant be helped seriously.

I make 40 sushis a day and Ill dump them all when Cronje makes some stupid tweet about yearn incorporating bento box or some shit. Some people just deserve to be poor. When does your shift start?

>>24712224
>Listen here money cultists who can't see the big picture. You know what else makes easy money? Drugs. Yet drugs will never be mass-adopted and will always be associated with the dregs of society and looked down upon. The whole purpose of DeFi defeats security, and if you don't have security you don't have adaptation. Yet, Sergey is robbing investors of billions of dollars on the fake pretense of institutional adaptation.
Are you retarded?
Drugs is one of the primary ways elites make money and also one of the primary ways elites pass the time.
They just use top tier shit + stuff like andrenochrome if you can get it, and they also know how to not fall into drug addiction in such a way that the public would notice because they have to keep public images.

>>24710352
DeFi bubble will pop and ethereum + chainlink will be wiped out with it.

>>24712640
>I make 40 sushis a day and Ill dump them all when Cronje makes some stupid tweet
Great, I should listen to you, you sound like an intelligent strategies that has a vision for the future adaptation of crypto. I'll ask my grandma to put her money in Sushi after Cronje makes a shitpost, thanks a lot man!

>>24712850
THIS. It needs to happen or it needs to be massively reformed so the original wallet is tied to a singled identity and one person per wallet with video identity document verification. That should be standard for all crypto.

>>24710352
>Decentralized, meaning no one has control & oversight over payment systems.

this isnt true. defi is all centralized, let me know of a single defi coin that is decentralized. even ethereum is centralized as there are a trivial # of people with great power over it

bitcoin is the only truly decentralized asset, everything else just steals the decentralized moniker

defi isnt what you think

>>24713404
>defi is all centralized, let me know of a single defi coin that is decentralized
Wrong, there is no centralization in DeFi.

I could install a new MetaMask wallet now, deploy ETH and swap it on UniSwap for any token in existence. You would have no idea who I am, what my identity is, or how I got the token. You also wouldn't be able to reverse the transaction in case I scammed someone out of their money because it goes one way and no one has control over it.

DeFi is useful for that exact purpose, anonymity, but not useful as a widespread financial instrument because it can't be trusted.

If you were to secure a crypto project, you'd need to ask for identity verification at the start before wallets and have the ability to burn and reverse token transactions at will if someone reports their money was stolen. I don't see any platform that does that now. They probably never will.

>>24713525


Nope, take any "defi" project. Latest example I can remember is axion. Devs can simply implement code changes. One of them did and made out like a bandit. All defi is, is software running on ethereum.

even the devs at uniswap can do whatever they want with uniswap, in fact v2 implemented more fees for them. sushiswap is an example of when devs get really greedy. Get it?

it's just code with a cool name

nothing else like bitcoin exists because nothing else solved trustlessness

>>24710352
Maybe just don't be retarded so you don't get scammed. I hate when people try to avoid responsibility.

>>24713308
Who the fuck cares about future adaption of crypto? Why the fuck would you get your family involved in this bullshit? Convert everything to ETH BTC or DAI after making money in shitcoins. Why wouldn't I use my liquidity to farrm shitcoins? Youd rather centralize them on blockfi and give custody to a 3rd party and pay tax on gains? Fuck you are dumb.

>>24710352
The real problem is Shiterium. Over 100.000 tokens launched on ETH and 99.98% are outright frauds and scams. Same with all the Uniswap DeFi scams that were peddled here this year.

Then they started "wrapping" BTC and ETH. What a fucking joke.

>>24712640
You reek like a putrid Uniswap shitcoin scammer.

>>24714616
>Same with all the Uniswap DeFi scams that were peddled here this year.

They are making a mockery of crypto and ensuring this brilliant technology is never going to replace fiat the way fiat replaced precious metals. They are the sole reason widespread implementation will be put on hold.

>>24714373
>JUST DONT GET SCAMMED BRO

You literal baffoon, your argument defends theft. If you want to be on the cutting edge of tocology and promised to revolutionize finance, you couldn't let people fend for themselves, you'd have to protect them. That's your fucking responsibility.

Especially if you have the guts to rip off gullible investors out of billions of dollars on the promise mainstream adaptation the way Chainlink has done for the past 3 years.

>>24714616
>Same with all the Uniswap DeFi scams that were peddled here this year.

They are making a mockery of crypto and ensuring this brilliant technology will never replace fiat the way fiat replaced precious metals. They are the reason widespread implementation will be put on hold.

>>24714373
>JUST DONT GET SCAMMED BRO

You literal baffoon, your argument defends theft. If you want to be on the cutting edge of technology and revolutionize finance, you can't let people fend for themselves, you MUST protect them. That's your fucking responsibility.

Especially if you rip off gullible investors out of billions of dollars on the promise of mainstream adaptation the way Chainlink has done for the past 3 years.

When your iq is too low to check etherscan and you FOMO into a scam
>>24714716

>>24714837
>ally if you rip off gullible investors out of billions of dollars on the promise of mainstream adaptation the way Chainlink has done for the past 3 years.

We literally told you to buy LINK since it was under $1. We were hyping that coin since 50 cents. You could have thrown 1k as a gamble and 20x'd.

Some people can't be helped. Notice how in life there are winners who take calculated risks- you are not one of them. You are a bitter leddit fag. Who hurt you Sergey? He put a gun to your head and told you to buy LINK? Fuck you're dumb. I make 100 bucks a day providing liquidity to sushiswap and 20 bucks a day on yearn.finance. Of course I have etf's, stocks and trade options. DeFi is a fun way to lend and gain interest and borrow on top of that to farm yield. If the math is too hard for you or you are losing money, maybe its time you realize you are the sucker and you should move on. to Funkopops or something.

>>24714616
>Then they started "wrapping" BTC and ETH. What a fucking joke.
Never learned solidity. Doesn't understand why ETH has to be wrapped to WETH...

Just play video games. It's over your head and you know nothing. Are you mad because Elon never sent you 1 ETH after you sent him 1 first?

I can't figure out how to buy shitcoins on uniswap, also what are gas fees? I really don't know how to degen and gamble

>>24715191
Get fucked you slimy scammer.

>>24715336
>Get fucked you slimy scammer.
Can't code or do basic math calculations. Suffers from FOMO. No understanding of impermanent loss, or risks associated with a particular protocol or contract. Only logical solution: Everyone smarter than me is a scammer. I think there is a thread for shiny rocks you should join LOL

>>24710799
Kek

>>24713308
>and one person per wallet with video identity document verification. That should be standard for all crypto.
I think you don't understand crypto. Just use a bank then retard. The whole point of crypto is being able to move freely around the globe without having someone confiscate your funds or question how you got them. Its about complete freedom. i can get paid in SK in BTC for a web dev job and fly to Thailand as a tourist and convert my BTC to baht and live like a king for a week without paying any taxes or anyone knowing where I was with and with who. You want crypto to be tied to your ID? That what a bank already does you absolute retard. Go back to your safe space kid. Stay poor forever. People like you deserve the faith you get. Your hatred for link makes me think you bought the bags I sold at 17