/biz/ - Business & Finance

>>49801702
>I’m just realizing that ALL of DeFi is nothing but a big communal ponzi scheme
water is wet

>>49801769
like your sister when she sees my pics

>>49801702
im glad youre getting the gist of it anon, its time to leave this scam ridden community

>>49801702
If by DeFi you mean staking useless shitcoins with a retardedly high supply cap and stupid APY, then yes.
If by DeFi you mean decentralized liquidity protocols where you earn apy for providing a lending service, then no.

>>49801702
>Nothing there is sustainable and all the ‘tech’ advancements amount to nothing.
there is no innovation in any technology, all the fucking projects are gamefi, metaverse, nfts or copies of other previous projects.

>>49801702
thats nice and all but almost all centralized stuff is bad too

>>49801878
bumb

well, move to earn projects are currently very successful in cryptos. Stepn keeps selling even when the market is in the shit, and in fact it is an option to cope and earn extra money by exercising.

>>49801702
yes. Only nft games are honest and some (like stepn for example) even tried something new and innovative though again its all very unsustainable

>>49801702
What was your first clue retard? Bitcoin is also a ponzi in case you haven't realized by now

>>49801702
It appears so. You loan them something, they pay you in their native currency. If when you withdraw and they can’t meet their obligations, they inflate their currency their native currency to momentarily match the market value of what you loaned. If enough people withdraw at once, the native currency will quite literally hyperinflate. What could go wrong

>>49801963
GMT wasn't in the shit? It went from being worth a dollar to 0.6 today.

>>49801702
>FUDing this hard
Go back to Bulgaria and/or plebbit, nocoiner.

>>49801963
Only nft games are honest and some (like stepn) even tried something new and innovative though again its all very unsustainable

>>49801702
Welcome to reality.

>>49801878
ngmi

>>49801702
>but a big communal ponzi scheme
and are you not going to get money from it?

>>49801963
>and in fact it is an option to cope and earn extra money by exercising.
I never had a single care or concern for my body, are you telling me that now because they want to pay me for it I should start worrying?

>>49801702
aave is working perfectly fine

>>49801702
Theyre not, youre emotional and retarded, though

>>49801878
Id also like to add proper open source perpetual futures. Non kyc tokenized stocks as well. These are literally trillion dollar fucking inventions. They are fucking genius. Idk how cryptobros gloss over this and start spewing nonsensical garbage. B4 crypto perpetual futures never existed and were only a concept. Now they exist outside of the reach of CEX’s and on chain.

>>49801702

>>49801978
Exactly, with stablecoins being the greatest ponzi. You loan them money, they pay you an astronomical return in a coin no one uses, all to get reverted back to fiat. No one is using these coins and depends solely on Luther’s putting money in= ponzi

>>49802212
Others*

I work at a video game studio. Our parent company has been throwing money into blockchain and preparing to do NFTs (yes, even now) while every single person who actually has their hands on making the video games that get them that money has been asking them what the fuck is wrong with them.

Now, the reason video game companies are interested in NFTs is because it gives them another avenue for microtransactions, especially if broader regulation comes down on lootboxes. Lootboxes are illegal? Great, the exclusive contents people used to gamble for now cost $300 each because they're NFTs. Gamers would lose their shit if they tried to put out a limited cash shop item at that price now, but they're not doing that, right? They're selling an NFT, the hot commodity that's a long-term investment! Cool, you've innovated the way to make EVE Online's $80 monocle skin a normal thing.

Now expand some form of this motive to everything crypto touches.

If all of this DID amount to something, it wouldn't be good. Look around for ten seconds with clear eyes and ask yourself who is pushing this crap and who stands to make the most money off of it. Look at how much of the "DeFi" landscape is actually centralized because that's the only way it can work at scale.

Ask yourself what people who already have billions of dollars from exploitative business practices get out of facilitating a revolutionary new landscape for the common man to benefit from. And then ask yourself what they would get out of creating an alternative version of what we have now, more or less, only one of the key features is that they control it completely.

>>49801702
Yes the whole fucking world is a big communal ponzi scheme. You colossal retarded faggot.
Go sell your crypto and short it while you're at it. Stop whining like a bitch and put your money your fucking mouth is.

You can still sell your garbage for XMR

>>49802388
Selling in game assets as nfts is a good thing inho. For example I wish my moosehead, Deus ex jacket and billabong pants were minted on psnhome. But I lost those assets along with the money spent for them. At the time I understood I was just buying skins but when I lost them it fucken sucked. Blockchain gaming is a good way to keep what you have spend your time and money on, even if it is digital. Imagine GTA Online but every car, weapon and nothing item has a unique indientifiying number and can be resold through an in game merchant or player to player. Only thing is the developer only gets a small percentage of each sale and the player making the money. No dev wants that so them and fuck their product.

>>49802212
phoneposters get the rope

I just watched the coffeezilla video about celsius that someone posted here, honestly didnt know it was this degenerate.
Celsius basically used all of their customers money to take risky gambles kek. Sadly it seems its extremely easy to run a ponzi scheme in crypto.

Thr good thing is crypto has come a long way since its humble beginnings, I remember when there. Was only 10 alts, and they were just simple pow clones of btc.
Atleast crypto and smart contracts have gotten mainstream attention and some serious players are starting to develop with it. I think it will grow long term, right now is the learning phase.

Stuff like chainlink make me hopeful

>>49802388
nfts are complete dog shit they just make people who are already rich richer

>>49803389
Friend, when the game stops being supported the exact same thing happens to the assets that you have been sold as 100% personally belonging to you that happens to the cash shop items you buy now. They become useless.

>No dev wants that so them and fuck their product.
The devs would also be the ones deciding whether or not to implement the NFTs in the first place. I keep seeing this insane circular reasoning where people simultaneously believe that video game developers are withholding ownership of digital goods because it would make us less money, AND that we will implement the systems needed to transfer ownership to you so you can make the money instead.

I have been asked an amazing number of times to imagine something as magical as [video game you've heard of] except this time every item in the game is a unique piece of code we have to keep track of so we can manage a player-driven real money trading system (and all the regulations that would entail). And also fuck us because the people who make and publish the games are an unnecessary part of the process. It's kind of fascinating.

No one has managed to explain to me yet what part of this is supposed to benefit the devs and make it worth our while to implement. I suspect the actual assumption behind all of this is that play to earn games and their developers will eventually put us all out of jobs as they supplant us, because every argument I've heard for crypto-related shit omits but implies the part where it only works if the world is a completely different place.

If NFTs in games happen they won't work like that. They will be digital items no different from the ones you can buy now, only they will cost a lot more, be available in limited amounts, and be sold as prestige items for whales. Anyway, this isn't /v/ so I'll shut up.

>>49805157
What kind of retarded faggot is still talking about NFTs in 2022?