/biz/ - Business & Finance

1 YFI > 1 BTC thats all you need to know

DeFi is an abbreviation of the phrase decentralized finance which generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum. In simpler terms, it's financial software built on the blockchain that can be pieced together like Money Legos.

It's shitcoins any faggot can make in a few minutes in Uniswap. Some of them are in index funds with other coins, these are new, that have STA in them to slow their deflation.

>>21683168
We are busy accumulating bruh, come back again in 3 years and you will see if its a scam of if you miss out on a good investment opportunity.

>>21683168
Another crypto mania, hopefully it will last longer this time.

Is this the questions thread because I have this shitty minereum coin in my wallet and i have no idea how it got there.

>>21683168
>what the hell is DEFI
code that does shit

DeFi is a euphemistic revival of the well-loved pyramid schemes of early/mid 2018, such as PoWH and the like.

Instead of LARPing about being a "legit project" and "real business" with a real, eventual, usecase and token utility (this is the method most coins use to try and pump themselves), DeFi projects don't attempt to hide behind this pretence and are simply clever smart contracts with in-built mechanisms that attempt to encourage buying/holding and discourage selling.

That's all they are. The next step in the brazen pyramid schemes evolution.

>>21685794
What? Man shut your dumb ass up.

>>21683168
Nobody is listing them because exchanges ask for money for listings and DeFi trading platforms have created unprecedented circumstances where you can just say "fuck you" to them and still succeed as a project.

>>21683804
>Money Legos.

this guys gets it. differently from icos, defi is here to stay. Now, not all defi, but the most solid ones have a very favorable risk to reward. In a way op, it's a very risky market inside a very risky market already so you have to be very careful.

The smart move is to diversify SOME of your btc/eth/link into some of the defi projects out there. Don't be a fool to go all in because that would be too risky.

Without a doubt, the safest ones are: 1) aave 2) snx 3) yfi 4) ren. There are other very good picks like Lrc, thorchain, Rsr and a few others that might offer you a high upside as well, but they also offer lots of risk.

What is the most popular advice for nocoiners? Just add 1-5% of your portfolio to btc (more if you are more bullish). So I would say the same. If you are very skeptical about defi throw no more than 1-5% to at least get some exposure but no more than 20-30% imo because it is still very risky.

If any of you fags use discord and feel like connecting to other traders/investors feel free to join my group. We are mostly traders tho so a lot of our conversations revolve around trading.

>>21686162
how do i join your group?

one more thing. MOST people don't get BITCOIN. Out of the bitcoiners, MOST still don't get ethereum. And out of ethereum enthusiasts, MOST still don't get defi so be prepared to read lots of fud along the way. So my advice regarding 1-5% max of your portfolio is in case you don't really believe/see the appeal so this is just like an insurance bag. In case you are wrong, you can still potentially double your crypto portfolio. Oh btw I forgot to paste the server id here. For you fags who wanna join the server id is r62y8vZ

lol I'm stupid. I forgot to past the server id.

Will defi solve this shit

>>21683168
bitcoin is the gold in its vault. Defi is the banking services, lending, exchange, etc.

>>21683804
>It's shitcoins any faggot can make in a few minutes in Uniswap.
I'm not only a faggot, I'm also a retard. So you're saying that even I could create a token and distribute it so easy that I, with little experience in building or operating such a thing, could build something that goes to the Moon?
(How's the legal situation by the way?)