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22124087 No.22124087 [Reply] [Original]

Unless you are planning to sell in the near future, DO NOT KEEP YOUR LINKIES ON A FUCKING EXCHANGE
There are a dozen different defi projects out there willing to literally PAY for your liquidity, and yet you would rather give liquidity to exchanges that then use it to short you. The moon mission won't take off until the mass exodus of link from exchanges onto defi
I say this even though I know mass adoption will cut into my sweet sweet early adopter apr; lots of ruthless marines will hate me for this desu. But I didn't get in this for farming income on $14 link; I want us all to make it desu
Fuck CZ. $1000eoy if you help make it happen anon

>> No.22124134

>>22124087
Is there a guide or somewhere I can read up on this? I have my linkies split between hardware wallet and exchange atm

>> No.22124150

lmao, defi
kek, Ico scams were blatant but defi, its like smart con, products with figuratively speaking giant blinking letters saying scam. Never ever would I in any shape of form participate in defi, and I'm in crypto since 2012

>> No.22124154

>>22124134
are u fucking retarded? connect wallet transfer to aave

>> No.22124184

This CEX are a relic of the past, embrace DEX, DeFi and remember nit your keys, nit your money. Use a wallet.

>> No.22124188

>>22124087
> A defi yield farm scam is safer than an exchange
Fucking R E T A R D

>> No.22124207

>>22124184
>embrace contracts that can be changed on the fly by the devs to rob you without the dev being legally responsible
retarded

>> No.22124267

>>22124207
Contracts ate immutable, retard

>> No.22124331

>>22124150
how many billions do you have

>> No.22124340

so if i understand this correctly, i put my linkies in a pool and then people loan them and i earn interest from that? and if they don't pay back my linkies i lose them? why would i risk losing my linkies like this?

>> No.22124416

>>22124087
Based OP

>> No.22124486

>>22124154
K how

>> No.22124657

>>22124134
Just get a metamask or mew gay boi

>> No.22124676

>>22124331
Just around 15 Million, wasn't able to really invest till 2016

>> No.22124711

>>22124267
>Hey dude, devs can totally never change a line of code and disable transfer FUNCTION
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA, tell that the losers who fell for "legit" uniswap scams

>> No.22124990

>>22124340
loans seem like the worst usecase for defi at the moment
who is going to enforce andpresh living in a goathut in central india to pay back anything and his 371 cousins are all next in line waiting to take out a loan

>> No.22125104

>>22124990
PLEASE DELETE THIS

>> No.22125321

>>22124711
Learn how smart contracts, Uniswap and Ethereum work.

>> No.22125379

>>22124990

That’s why most defi loans are overcollateralized idiot.

>> No.22125414
File: 87 KB, 550x400, 1599027235747.png [View same] [iqdb] [saucenao] [google]
22125414

>>22124990
Pretty much sums it up

>> No.22125417

>>22125321
you mean have a centralized governance through "early buyers" that are coincidentally associates of the scam dev that vote to "adapt" the contract. As long as governance Tokens and changes of contracts are a thing, defi is a scam. And no amount of promises to not just prefer "early (((adopters)))" will change that.

>> No.22125460

>>22124990
Aave is blessed by Sergey. I trust them.

>> No.22125475

I just got a trezor. How do i put my linklet stack to use without losing my precious linkies? Walk me through like a brainlet

>> No.22125907

>>22125475
cross reference whatever you're told here.

>> No.22125908

I'm too scared to move my LINKs from my cold wallet to some DeFi experiment that can steal my LINK at any moment by just claiming their smart contract had an error or something.

>> No.22125955

>>22124990
Loans are some of the best usecase for defi. See Aave.

>> No.22126156

>>22125379
collateralized with what and how will who enforce payment

almost all real world examples require the use of legacy court systems through multiple jurisdictions and good luck getting judge Vijya Divakar to rule in your favor and forcing his cousin comisar Shankaracharya Barvadekar to kick down the door to niece Daas Bhave and take her 3 goats
i also like the state of the 3 goats as fedex finally delivers them to your door 3 months later

the only loans that work are the ones backed by other crypto but at that point why bother with a loan
if you give out this contract against some aggregate lender i can garantuee you the same collatoral is promised multiple times over and the owner can exit scam to the hindu kush faster then you can say this curry gave me diarrhea

>> No.22126200

>>22124087
I keep my link on Coinbase bc it’s insured and safe

>> No.22126277

>>22126156
Take them to the kleros court ez

>> No.22126280

>>22126156
Overcollateralized with whatever coin you choose to use as collateral. And its locked in a smart contract. That's how they enforce payment. You clearly haven't engaged in defi at all.

>> No.22126304

>>22126200
Only up to 250k, I believe.

>> No.22126463

>>22126156
fk you're stupid

>> No.22126598

>>22124087
> YES goys! Keep the defi ylink ponzi going! Far safer for your link!

No thanks ishmael.

>> No.22126615

>>22126280
aave does zero collateral loans now

i of course cant prove it, but this setup incentivizes bad behaviour and somewhere in the whole ecosystem someone is scamming this

>> No.22126661

>>22124087
>>22124154
Isn't there a risk of losing some of my linkies in aave though?

>> No.22126708

>>22126156
>if you give out this contract against some aggregate lender i can garantuee you the same collatoral is promised multiple times over and the owner can exit scam to the hindu kush faster then you can say this curry gave me diarrhea
this so much, and why aave went from interesting to total scam

>> No.22126710

>>22126200
Crypto assets are not insured. Only cash. Up to 250k in cash only.

>> No.22126847

>>22125417
This.
That's exactly why Uniswap could release v2 by changing the existing contracts. If they couldn't, they would have needed to deploy new contracts and maintain both versions

>> No.22126881

Honestly the safety ranking is:
> Hardware wallet
> Properly done paper/software wallet
> Major exchange
> Lazily done paper wallet
> Other exchanges
> Asking the IT guy at work to make you a wallet
> Asking an anon to set up a wallet
> Buying pre-made paper wallets from etsy
> Putting your money in defi contracts

>> No.22127138

>>22126881
hardware wallet kek ngmi
i keep all my funds on qtrade scam exchange

>> No.22127182

>>22127138
i also recommend hotbit because i cant even get my own funds off hotbit so how could a hacker ever expect to get them haha

>> No.22127193

>>22124087
just go to celsius or crypto.com if you want a nice apr%

>> No.22127261

>>22124087
with eth fees so high is it even worth it?

>> No.22127304

>>22124087
>mass exodus of link from exchanges
https://www.viewbase.com/coin/chainlink

WE ARE DOING IT

>> No.22127402

>>22127304
huboi is increasing :0

>> No.22127445

>>22127304
Nobody does it, The inflow to exchanges has reached record highs. Link is done for the next 12 months

>> No.22127729
File: 732 KB, 1155x775, the_remaining_market_for_smart_contracts_is_trillions.png [View same] [iqdb] [saucenao] [google]
22127729

>>22126881
>paper wallets from etsy
kek, replying to this anti-defi anon for at least being funny
I posted something similar elsewhere and forgot to include an important caveat. I'm not going all-in into any yield-farming project, and I acknowledge how risky it is to put your link there. But holy fuck, have you seen the daily roi? Even if everything rug pulls in a couple of months, by that point you will have been able to use yields to double your stack
Start with whatever part of your stack you feel comfortable with and use your yields to buy more link. At current ROI this shit only has to survive until the end of the month for you to have printed out replacement link (at a higher cost basis) for all of the link you're farming, at which point it becomes house money. Slowly increase the amount you farm as your hedge link stack grows. Then put that hedge stack in cold storage or stake it in cefi like >>22127193. 6% apr is better than nothing but I'm not sleeping on 1500%+apr while it lasts
Go back through your slides from Sergey's keynote and look at the one right before the ever-popular pic related. This was literally planned. Smartcon is the fucking reason Y-series defi projects have gone crazy this past week
$1000eoy (principal + yields)

>> No.22127902

>>22127729
Where do I start for trying out DeFI?

>> No.22127996

nobody using exodus?

>> No.22128053

>>22126200
its only cash insured you fucking retard

>> No.22128139

>>22127729
Well i hope it works for people involved, i do. Maybe i'm a brainlet or too scared but i just like my link being predictably in my wallet.

>> No.22128184

Why the fuck are you guys still on link?

new coins are 5x - 100x all the time now.

this fucking thread is a top pay site that just leaked its top pick.
id hurry up.
>>22123132

>> No.22128186

>>22124990
I'm retty sure yearn is 2 to 1 over-collatetal

>> No.22128208

>>22128184
Shut up curry faggot

>> No.22128332

>>22128184
ngmi

>>22128139
I was literally (you) until about 48 hours ago when it all clicked for me. This is part of the reason why Link isn't already mooning--yield farmers are collecting all of the gains that would have been distributed across all marines in the form of a pump. If you have time at least give it a shot, start small. It will help you better understand this space in the years to come
>>22127902
I'm starting with YFV but your guess is as good as mine desu. I'm also new at this, should have gotten in at the start of the month when a buddy of mine in the space offered to explain it to me

>> No.22128350

>>22127729
>But holy fuck, have you seen the daily roi?
BITCONEEEEEEEEEEEEE
>Even if everything rug pulls in a couple of months
Anon... It could literally happen tomorrow.

>> No.22128382

>>22124087
for tax reasons and the ability to sleep at night I just keep my stack comfy in cold storage. fuck defi until it's fully audited and gives realistic yields, not that ponzi type shit with backdoors that collapse every couple of weeks.

>> No.22128454

>>22128332
God you are pathetic

>> No.22128528

>>22124990
So now the question I have is, how does one get these loans?

>> No.22129085
File: 30 KB, 485x593, AR on a sling.png [View same] [iqdb] [saucenao] [google]
22129085

>>22128454
says one anon to another on a mongolian throat singing forum

>> No.22129109

until all these defi scams go to zero this market dump must continue. I’m thinking another 10–15% off the total crypto market cap should do it.

>> No.22129361

>>22126661
About as much as leaving them on an exchange, but aave dynamically changes the the interest rate depending on what they have in reserves

>> No.22129588

>>22129109
It took a 24 hour 30% BTC crash to end Bitconnect. If these DeFi contracts are that much more fractional that Bitconnect, 10-15% will wash them away.