/biz/ - Business & Finance

>>14945989
>Do you fags even know what is happening in DeFi right now?
No

>>14945989

Yeah im all in ETH because of DeFi. About 2% of all ETH is locked in to compound/maker etc.

DeFi is the first true killer app for crypto and unlike 2017 where ICO scams were pumping ETH, I feel like DeFi coupled with ETH 2.0 will pump this shit to the stratosphere next two or three years.

Don't get left behind guys all the signs are there that this DeFi shit is only growing if you look at the numbers.

>>14946422
After using Nuo Network and Kyber I'm all in

>>14945989
Where can i buy this shitcoin?

>>14946443

Yeah i got wrecked hard like almost everyone here last bull run. My portfolio is 80% ETH/20% LINK and im happily gonna be patient and ride this shit all the way up.

We will all make it if we have patience. The more and more I see the ETH ecosystem growing I realize 2018 was a test pump at $1400.

Almost insane to think ETH at $10k is a very real possibility if they change to POS and more and more ETH gets locked up as well as the inflation goes down. Gonna be a fun ride.

>>14946512
based and eth pilled

All in anon. This is just the beginning .

Shorts confirmed.

>>14946512
You convinced me, I'll buy some more. I only have ~13. I bought 1 Maker also. How many ETH to make it?

>>14946689
32 eth

10k link

21 btc

100k ren

pick one

Anyone else got old news for sale?

>>14946710
lmao, that ETH pick is weak, 32 is for poorfags
I have 210 and going to sit on it for a few years.

>>14946689

Not sure depends on the lifestyle you wanna live anon we all are different and have different needs.

My dad did my mom bad on their divorce ten years ago so I really want to be able to pay off her house and get her a new car before I do anything myself but I am closing in on 1k ETH so I think I will be fine long term.

>>14945989
share an example

>>14945989
share an example

>>14946825
no one is going to spoonfeed you the juicy stuff

>>14946838
oh thanks for adding to the conversation there

>>14946849
you too

>>14945989
Compound.finance giving 17% APR for DAI and dydx in a similar suit...all decentralized. What else?

>>14946852
well i understand the uses of the DAI token but nothing has presented it self as ground breaking to me. maybe im not understanding it enough

you guys realize this shit is going to crash and burn a lot of people? We've already seen it with nubits.

https://medium.com/reserve-currency/the-end-of-a-stablecoin-the-case-of-nubits-dd1f0fb427a9

>>14946838
At least point us crypto newfags in the right direction. What resources to use or what precisely to search? I don't mind doing my own research but sometimes I'm not even sure what leads to follow.

I've done a quick DeFi search but nothing groundbreaking came up like >>14946880
said.

>>14946910
literal who

>>14947011
Wait are people actually this new? This is legitimately the forefront of crypto adoption. How are you people not balls deep into researching this stuff? What the fuck do you think link is for?

>>14947011
Dont mean to single you out anon, I'm just legitimately surprised at the lack of crypto knowledge around here.

>>14947536
alright give an example

>>14947583
Loans, credit, derivatives, exchange, DAOs, asset tokenization etc...

DeFi is a shadowfork of the worlds economic systems that is currently bootstrapping itself

>>14947011
Serious answer: Buy and hold Bitcoin. Ignore all other shitcoins because they are not decentralized.

>>14947529
>>14947536
It's alright. Yeah, I'm new. Honestly there's only so much time in the day to research stuff. I'm new enough that I'm working through btc and eth's white papers and getting a better understanding of how decentralization/blockchains work. So, when DeFi is mentioned, it's not something I'm immediately familiar with; therefore, a quick google search which yielded nothing of immediate importance. I'll do some more searching and thinking tomorrow once I'm more awake.

>>14947619

That should make you even more bullish that this mongolian basket weaving forum which sometimes has some gems has zero clue about DeFi.

It just means those of us who understand are ridiculously early and not to compare it to another nascent industry but it really does feel like the internet era of like 1996.

>>14947619
Thanks.

>>14947660
I apologize for being harsh. Sounds like you have the right perspective. Reading those whitepapers will give you good background knowledge, or atleast will give you an understanding of the provenance of Bitcoin and Ethereum and why smart contracts are a thing.

You wont actually find anything on DeFi with google searches as its a pretty new buzzword for an old concept in the Ethereum community.

Ethereum is promising to be the worlds global trust layer, and with trust negotiation outsourced to a trustless network, the worlds financial systems (any any system that require trusted middlemen that can be automated) can be moved to this layer. DeFi is short for decentralized finance. Check out MakerDAO, compound lending and instadapp for good examples.

Anyway, this barely scratches the surface. Think about what you can do with that and what you could do if there was data flow between systems and the real world enabled (hint: think light blue meme cubes).

Anyway happy DYORing

Same here not a brainlet either but didn‘t find a way to ‚make it‘ with DEFI yet and dont come with muh 15%APR which in itself is great but thats gonna take 5 years to double my money how can i profit off the growth of the space in general?

Bitches don't know about my 17℅ APR.

the best answer, among all this blubbering is RSR. You're welcome.

>>14947767
Ethereum. MakerDAO. Chainlink. Look for things that connect/integrate with Ethereum to make a process that already exists much more efficient (by several orders of magnitude).

So, the anon above pointed out how DeFi is essentially a reconstruction of the existant financial system within the eth network (trustless and decentralized).

Now, let's think of another industry - think about shipping.

Thousands of containers, pallets, units, crates, boxes. Moving from ships to trucks. Sorted, Labeled, Data harvested and entered for every bit of cargo. But all of this data is in proprietary databases on ancient computers that all have their own network, that all have their own language, that all must be accessed by a person behind a desk behind a phone behind an email...you see how inefficient this is? Imagine if all of this data was made into a common language (VeChain could be trying this, Ambrosus was trying this but that was a scam, etc) and then stored on a blockchain (ETH) to be called on (LINK)

Hopefully this gets the ball rolling. I am doing a lot of research myself, so I am not an authority or anything, this is just what I have found.

>>14947877
Maker looks promosing i‘m just worried why the price didn‘t increase with the growth of its ecosystem. Everything is going well with it its just not rising. Somethings wrong there just not sure what and why

Take insurance companies. They can’t operate on a public blockchain. KYC regulation. They just can’t use the technology. But what if you can provide an insurance service with automated (trustless) properties, that functions by attracting capital from investors, who can participate in decision making about finances and developments of the application? You have a new way to organize people and their capital to provide real services to people that has real value. Its censorship resistant, governments can’t shut it down for bypassing KYC laws. They have no choice but let this new type of organization have its place. Open participation to anyone worldwide. DAOs are gonna be fucking awesome, I can’t wait

>>14948056
Because its hard to wrap your head around.

Magic internet money isn't.

>>14948056
We are in the tail end of a bear market/beginning of a bull market.

MKR is hard to understand and used to be hard to use - currently with the 20% yearly fee, it's also expensive. At some point, MKR could well go up a lot.

But this is less about MakerDAO and more about the fact that most of the decentralized finance/insure tech is using ETH. Most every project launches as an ETH token, most (like MKR, RSR, LINK) stay on ETH for a long time or ever. Our best hated Tether just moved to ETH from Omni.

I might be a mindless fanboi like OP, but I am also stashing away ETH right now. I believe 2017 was the ICO craze, but 2020 is going to be the DeFi/STO/FinTech/InsureTech/tokenization bubble. Once Vitalik gets his scaling shit sorted out, I cannot see how ETH will not reach and surpass the $1400 ATH.

>>14948320
That said, there's one thing that speaks against ETH and pro BTC: BTC is practically useless, but has enormous traction. SoV lovers will pump more and more fiat into BTC that normally would have been used to buy property, gold, diamonds.

ETH is a utility coin, not a SoV coin. Vitalik ever so gently discourages extreme hoarding, whereas the BTC core devs do nothing about it, even encourage it with their small blocks.

While ETH might to so $3K, BTC might go completely lunatic and end up half a million a pop just because some Saudi family suddenly needs to own hundreds of thousands of BTC for no other reason than to have the most. So, BTC might stay the top dog, but ETH owns the actual usage and just might flippen BTC if the torrent of SoV money dries up.

>>14948358
This is a rare glimmer of old-biz shining in a sea of pajeets and newfaggoty.

>>14948358

Great point but you are forgetting that said Saudi Family will see that ETH is gaining traction and will want to hoard it just as much as BTC.

Education is not there and it might take 5-10 years but if ETH is slowly viewed as everything it will become on top of being a comparable store of value or even better than BTC (lower transaction costs) then the flippening might not be a pipe dream after all.