/biz/ - Business & Finance

>>52443574
One day you wake up and there is news article
>HARVEST FINANCE FUNDS DRAINED
would not happen with chads. Obviously, if you stake on (((SBF))) exchange then everything can and did happen.

Because CeFi is far easier to use than DeFi and it has off-ramps. If you're a normies the user experience outweighs everything DeFi has to offer. Moreover, if you're a normie you're not even aware of a CeFi/DeFi distinction, it is all just crypto.

>>52443639
Then just use Aave and Compound.
They've been around for years, have billions in TVL and have lost no user money.
No risk of impermanent loss.
Yields are still comparable to CeFi.
>>52443648
Yeah that must be it, and I understand that most normans have at best a 5 second attention span.
But then how do we teach those who are new but not stupid?
I am doing my part, I served a 7 week ban for spamming good yields on numerous pools.
And I will continue showing them to newfags, because every once in a while there's the odd one with a brain amongst them, and I'd like to know that I made them withdraw from a CEX.

>>52443727
So I can currently get 5.65% on GUSD and don't have to worry about DeFi taxes.
Looking at your screenshot: I should be buying AMPL, putting it in AAVE and earning 116.18% on my deposit. But that's a bet that AMPL/USD will not decrease in value by more than 2x, isn't it?

>>52443727
>>52443804
Just looked at the chart. It's some sort of algorithmic stable? And then if I am in no rush when exiting I can just wait when it is within a regular bound?

>>52443827
Yeah, stay away from AMPL.
I guess you missed 2020 when its price went full bananas for a month straight.
It's not safe at all, stick to TUSD, USDC, BUSD, PAX, PAXG, DAI.

>>52443923
P.S. or if you don't care about absolute safety, go to a liquidity pool with 100000 APR where you double your money in 2 days but have the risk of losing everything to a rug.
Been doing this for 2 months and I'm ahead overall

>>52443923
Why is it not safe? The chart looks decent: every drop always reverses in a week and I'm in no rush. What about SPOT?

>>52443960
Have you read Caroline's blog?
>Is it infinitely good to do double-or-nothing coin flips forever? Well, sort of, because your upside is unbounded and your downside is bounded at your entire net worth. But most people don’t do this, because their utility is more like a function of their log wealth or something and they really don’t want to lose all of their money. (Of course those people are lame and not EAs; this blog endorses double-or-nothing coin flips and high leverage.)

>>52443727
>But then how do we teach those who are new but not stupid?
People who are new but not stupid will figure it out on their own. The real question is how custody should work for people who aren't smart. Centralized custody has all the problems that are currently playing out, but even if you could convince normies to self-custody and use DeFi they probably couldn't be trusted with their own keys. End game is probably centralized custody with something like FDIC insurance for qualified custodians.

>>52443727
Some counterpoints:

I don't want to be on top of the market wondering about IL and all of that I just want to click 1 button and "stake" my coins in a safe way.
Many people want to slowly invest into crypto with 50$ in btc and 50$ in shiba (example) and just let it gain some yield in cex and see what happens. If you wrap btc into other chain where you can actually do defi, you are trusting that your wbtc actually retains its value which is a trust issue, just like the cex. All that wrapped btc on sol just poofed out of existence I believe?
Bridges are not safe. If you want to go from one chain to the other, you have to trust some bridge which is getting hacked all the time.
Fees are not worth it unless you have a lot of funds. On a cex I can just buy and sell whatever and pay a small fee and get yield straight away, on defi you are subject to price slippage and other kinds of technical bullshit.

>>52444028
>I don't want to be on top of the market wondering about IL and all of that I just want to click 1 button and "stake" my coins in a safe way.
Then this strat is definitely not for you.
You need to be managing your portfolio at least part time otherwise you'll lose your money.
I just said there's merit to it.

Also, be on the lookout for coins that offer incentives that are not reflected on defi websites and yield samurai.
Back in the day, Jarvis would pay me 100% apr in JRT to stake my DAI on aave and redirect my profits to them. The actual yield on aave was 5%.
It was one of the reasons I quit my job before fully making it. Because it allowed me to look for such opportunities 60hr/week which was much more profitable than waging.

>>52444792
>>52444028
>>52443727
this is only good for gains that you already have and you can just lock them up in a dao or in a lending protocol. if people expect to make huge returns on this you gonna get sorely disappointed

>>52445374
It's safer than outright putting money in shitcoins, so it has its place in a balanced portfolio.
In turbulent time a smaller %. But during crab markets I see no issue going all in on that, it is THE way to make money once prices aren't really moving and once we find a bottom we might have a lot of that soon.

Play in only the trusted casinos! Like Bspin.

>Casino with Bitcoin main currency.
>Coming giveaway with $15K Prize Pool.
>Up to 20% CashBack bonus and the greatest benefits.

>>52443987
I don't even want to give good advice here cause I like the low tvl but ampl pool is a money machine. Apr varies between .3% and 18000% which is why it might look so high. Put in geyser for an extra 60% on ampleforth website and to offset negative rebases and get exposure to major positive rebase runs (18k% Apr < Apr of ampl @ $2)

>>52443923
USDB is also a good one, I'm stacking my reserves there, and also staking it on Takepile to earn more passive income

Because they're low IQ and can't use Metamask

>BRAP

>>52443574
This Samurai isn't safe either since it's custodial. Still choose to have my USDC DAI invested through SpoolFi into AAVE, CURVE, IDLE, and Compound...

No diversification, no life in crypto.

Compound and AAVE are KYC right (for any significant amount of money). There will be epic honeypotting in a few years when all these people have to explain to the IRS why they have a few hundred thousand in stablecoins that they haven't paid tax on or accounted for in anyway.

Only yieldfarm coins you have paid tax on and can show proof of acquisition for.

>>52445889
What's the apy with usdb staking?

>>52446590
And what is kyc doing with decentralization?

>>52448228
It's 30% fixed staking anon

>>52443574
>just earn 1000% on magic beanz
You only earn % by trading crypto. Buy low and sell high. Any pool or finance bullshit that claims you will magically make money from nothing is taking your crypto and giving you worthless tokens in its place. The bottom is not in until all of this dies.

>>52446590
Among the projects I listed there, SpoolFi is DAO governed and non custodial too, then for Aave and Compound there are already KYC products already springing up from crypto fags. But I would advice decentralized protocols...

>>52443648
Yeah, the ease of usage tramps all other things. DEXs can easily make you lose all your funds with a simple mistake.

>>52450587
Some Dexs are becoming very user friendly, I used Loop Finance and it looks targeted to onboarding normies.

>>52450705
Just use Binance.

>>52443574
from what i recall:

the gas fees were absurd and not worth it
pools can still be hacked and you can lose all your money
they're essentially locked up for a period of time. which is bad if you wanna sell during a peak or anything.
cefi is retarded. but i doubt defi was any better. crypto just sucks ass

>>52443827
These posts make me realize, we amplechads are truly early, grasping the unit of account implications takes time even for people that are finance aware

>>52450876

>>52450998
Searching more I found out that total supply is ever changing and you get positive or negative reflections a la SafeMoon. Is that what you mean?

Bump

>>52443987

The trick with that is that the pric does change, it's just that that change is reflected in the number of cons in your walle
t.

There is probably a decent use for something with a similar algorithm but thinking that it just fixes itself is foolish - the way that it gets fixed is by making tokes in people's wallts disappear.

>>52448604
Sounds like a ponzi but I'll look into it

>>52449058
1000% is nothing, GRT-WETH on Arbitrum was literally yielding 10000% for a month, I put 1 ETH worth and got 6 out even with GRT dropping.
You just have to look for these pools, yield samurai for popular platforms, and defi llama for new ones that part timers haven't discovered yet.