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/biz/ - Business & Finance

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29558160 No.29558160 [Reply] [Original]

I still don't understand DeFi

>> No.29558275

>>29558160
I had to learn, because I'm a greedy motherfucker

>> No.29558627

>>29558160
That's ok, not all of us can make it

>> No.29558818

>>29558160
what are your questions? have you tried googling it?

>> No.29558851

>>29558160
just look up Ponzi scheme on Wikipedia it's the same principle

>> No.29558879

you buy shitcoin that gives 10,000 shitcoin apy and you get rugpulled what is there to understand?

>> No.29558882
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29558882

>>29558160
>I still don't understand DeFi
It's a system that charges you hundreds of $$$ to move some shitcoins around, then you sperg out on a Ugandan Elk Farming forum about the solution.

>> No.29558903

Defi is literally worthless. Your average retard doesn’t care about decentralization, in fact they actually like that someone else i.e. the bank has control over their money. They might say they don’t trust the banks, but deep down they like that feeling of security. Not to mention you have to spend a week straight researching this bullshit because it’s never explained beyond the usual worthless jargon that every new company copies and pastes onto their website. What a joke.

>> No.29558917

seems like some real ponzi type shit to me. u buy a coin to then stake and get more of the coin.

>> No.29558936

>>29558627
>make it
>with defi

>> No.29558954

What is there to understand? Just buy shitcoin and watch number go up

>> No.29558965

>>29558160
decentraliced ponzi fren

>> No.29559023

>>29558917
>interest isnt the same idea

>> No.29559027

same

>> No.29559188

Borrow money, use money, pay interest. Wowwww so difficult wow omg.

>> No.29559288

>>29558160
Same. I have no idea what defi is. All I know is that I made a nice stack from BNT and GRT which I purchased last month after some anons here recommended them.

>> No.29559304

>>29558936
Aint gonna make it if need to ask for more digestible info

>> No.29559342

>>29559188
yeah but you have to use 100% of your money as collateral whereas in regular banking you don't.
If somebody came up with some way to create a crypto credit score they'd be rich.

>> No.29559423

>>29559342
https://www.litentry.com/
LIT

>> No.29559454

>>29558160
Its Bitconnect with extra steps.

>> No.29559464

>>29559023
u r loaning ur money to the bank in the case of interest. which they use to invest and shit in order to make more money and pay u back. this defi shit is just making interest payments out of thin air

>> No.29559591

>>29558160
Imagine bank and think about which services it can provide.
Now imagine the bank that is not run by kikes and decentralised. This is what defi is in theory. In reality tho it's rugpull after rugpull after rugpull for now

>> No.29559597

>>29559464
Its not. They either mint the tokens that comes out of the locked supply or they use yield farming and arb bots to generate profits on your staked tokens. There is serious economics behind this, not some joke unlimited minting scheme (which does happen and renders the token worthless)

>> No.29559629
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29559629

>>29558160
you farm and make free tokens

try it out on bsc
>squirrel.finance

>> No.29560121

>>29559454
I like this post