Whales Accumulating.

[Elvlin]

i don't get it you guys Btc may drop, but it won't drop lower than this. it already have too many uses to drop less than $5k.
So you can just invest some money you don't use at BTC, it rise good,no than it also won't be a loss.
and based on history in Cryptocurency 10,000% rise is very normal and happened every year. not only on BTC
if we say thousand percent rise it happen each month.

Check out Yfi token,Sushi Swap. and there are many more project like this that starting.
Just play math invest the same ammount on 100 project with decent research, than one of it fly you got all the profit and ROI.

 

[jasonforrest]

Check out Yfi token,Sushi Swap. and there are many more project like this that starting.
Just play math invest the same ammount on 100 project with decent research, than one of it fly you got all the profit and ROI.

Those are total gambles, like spinning roulette and 1 of them wins. This is the kind of advices ppl gave in ICO boom and that ended in rekt city for most.
But if you really think you're the smartest and lucky one , go for it!
Not trying to hate on yall Defi'ers, just wanting these noobs who read your advice to "KNOW YOUR RISK"

 

[Elvlin]

Those are total gambles, like spinning roulette and 1 of them wins. This is the kind of advices ppl gave in ICO boom and that ended in rekt city for most.
But if you really think you're the smartest and lucky one , go for it!
Not trying to hate on yall Defi'ers, just wanting these noobs who read your advice to "KNOW YOUR RISK"

no that is number games, the same as insurance and credit business.
it's total gamble if you enter without any knowledge, (example if you are great at math and count card, than playing blackjack at casino is not gambling)
and yes thats why i say always use money you dont use (meaning money you can loss, spread it out). As you acummulate experience and knowldege than you will know you can have better result.
(This is not only for Defi,but for every single investment out there,if you put all money in one investment it's gambling. since no matter how expert we are, there is always factor we cannot control)

There will always be RISK involved, in businesss, investment,. What seperate those win or loss is who understand more, and know the right timing.
remember for every Win we got, Somebody Loss it. That is the competition. no such thing as free easy money. everyting need to get worked on.

 

[jasonforrest]

Well, only future will know which was best:

1. your way, $xx on every defi and hope one/some hits it big
or
2. Bitcoin, fundamentally strong, a super strong competitor to gold/SOV ($trillions)

one seems like a sure win, (long term) one does not.

 

[Deleted member 1333509]

Those are total gambles, like spinning roulette and 1 of them wins.

You couldn't possibly understand DeFi and say that. In fact let's be honest, you don't really understand DeFi - that's why it seems like a gamble to you.

This is the kind of advices ppl gave in ICO boom and that ended in rekt city for most.

Tonnes of investors made huge money from ICOs as well as there being a lot of losses, and apart from there being a lot of hype around both of them there's really nothing else ICOs and DeFi have in common at all.

But if you really think you're the smartest and lucky one , go for it!
Not trying to hate on yall Defi'ers, just wanting these noobs who read your advice to "KNOW YOUR RISK"

You're coming from a point of ignorance mate, so you're the one who's actually doing a disservice to newer crypto users.

It seems like you take a default position of suspicion and paranoia with everything to do with crypto. There's risk, but the only way to effectively combat that is with knowledge, not fear.

 

[Elvlin]

no such thing as Sure win.or sure loss, what determine it is yourself.
market can crash, but those that play short will win, those who hold out till the price bounce back and rise will also win. those who sell it when crash will lose. its all about timing
the same like in Forex.
The only difference is Crypto is still infancy meaning everyon is still trying to make sense about it., mean more oppurtunity
Different with mature market like Forex.

 

[jasonforrest]

One dude is suggesting ppl here buy Sushiswap lol

I'm suggesting Bitcoin

You are blind to see the difference? One will be here in 10 years, 1 will not.
Sure you can make money if you're clever/fast/lucky enough, but you know, we do know it's a casino right now. Sure some will win in the short term

 

[Deleted member 1333509]

One dude is suggesting ppl here buy Sushiswap lol

But why are you taking the default position that it's not a good investment?

What is your reasoning that you don't believe you could invest in Sushi and make profit?

I'm suggesting Bitcoin

You don't have to pick one or the other, and you don't even have to pick either of them.

You are blind to see the difference? One will be here in 10 years, 1 will not.

But you don't know that. Words matter. When you say bs like this it just exposes the really flawed way you look at things.

Sure you can make money if you're clever/fast/lucky enough, but you know, we do know it's a casino right now. Sure some will win in the short term

What do you mean it's a casino?!?! The only people that think that are the people that know jackshit about trading and the market and then are bamboozled when they lose money.

Crypto isn't a casino and neither is DeFi.

You make high APY returns on DeFi staking because you're providing traders with liquidity. There's no guessing or wondering what's going on, it's simple - you collect fees when people trade using your liquidity.

That's literally the opposite of a casino.

 

[jasonforrest]

But why are you taking the default position that it's not a good investment?

What is your reasoning that you don't believe you could invest in Sushi and make profit?

Because it's a useless token:
1. It's not decentralized
2. it's not secure
3. it already had a partial exit-scam
4. why does a swap platform need a token at all? pure financial advantage and greed

Remember Chef Nomi?

shall i go on?

 

[Deleted member 1333509]

Because it's a useless token:

Except that you can use it to make multiples more than you do when your savings are stored in a bank.

1. It's not decentralized

What do you think the "De" in DeFi stands for though?

2. it's not secure

It's a fork of Uniswap - you think Uniswap is unsecure as well?

3. it already had a partial exit-scam

Which has now come and gone.

4. why does a swap platform need a token at all? pure financial advantage and greed

To incentivise liquidity providing and to create an easy to understand mechanism for reward distribution.


I'm not overly excited about Sushi myself and other projects are far more interesting imo, but seeing as though you picked it out (probably because of the issues with Chef Nomi making it the easiest project to slag off), it's at least worth understanding your thought process and reasoning.

 

[jasonforrest]

Btw, per this thread title, do you think whales are accumulating Sushi? or any DeFi tokens? No. There is a reason they're not.

(some recent whales, ie: The Galaxy, Square/@jack, Grayscale, Saylor/MicroStrategy, and others)

I guess the difference between our opinions is, i'm talking about buying, holding, appreciating assets, and suggesting this choice to anyone who'll listen. You're suggesting something else, like playing, where we both know some, many, will get burnt hard.

And, i think this guy nailed it: (from your original post article)

Sold all ETH and alts over the last week. Rotated into BTC and fiat. Almost everyone is criminally underexposed to Bitcoin and just as criminally overexposed to DeFi. When everyone is on one side of the ship...

link to tweet

 

[jasonforrest]

I'm not overly excited about Sushi myself and other projects are far more interesting imo, but seeing as though you picked it out (probably because of the issues with Chef Nomi making it the easiest project to slag off), it's at least worth understanding your thought process and reasoning.

@Elvlin mentioned it, that's why i continued discussing it.

What do you think the "De" in DeFi stands for though?

ofc De-centralzed Fi-nance, cute word for tricking ppl, but that's not the truth for many of the centralized Defi situations, how was YAMS, Sushiswap, and the others exploited. By the way, i like Uniswap, it is much better than they used to be, remember Etherscan?

Which has now come and gone.

But what allowed that point of failure?

Except that you can use it to make multiples more than you do when your savings are stored in a bank.

Vast majority of holders (of Bitcoin) end up gaining more in long term than any traders of all crypto. Have you seen the long term graphs of any altcoin/ICO/etc against BTC?

Example, my friend loses BTC while gaining USD (from BTC rising), by trading up, and he thinks he's winning. Do you understand why this is actually losing?

 

[Deleted member 1333509]

Btw, per this thread title, do you think whales are accumulating Sushi? or any DeFi tokens? No. There is a reason they're not.

In my humble opinion, you would do really well to self-assess your continual use of assumptions as if they're solid facts because it's a really frustrating thing to have to keep pointing out.

Neither of us know for sure if whales are or aren't accumulating DeFi coins. If we studied purchasing patterns we could probably figure that out, but neither of us have done that so I'm not going to treat your assumption about that like it's a fact.

You're suggesting something else, like playing, where we both know some, many, will get burnt hard.

I'm not suggesting anything.. I provided information and that's literally it.

More to the point, if you think DeFi is "playing" you have no business having a serious discussion about it. If you think billions of dollars in locked liquidity over the course of a few months is "playing" then you should stop badmouthing it until you've done some more research.

ofc De-centralzed Fi-nance, cute word for tricking ppl

Why doesn't saying things that are accurate matter to you? Most DeFi projects are governed using DAOs and are absolutely decentralised. Why do you think they're centralised?

But what allowed that point of failure?

The founder decided they wanted to sell their tokens en masse. Which could happen with any project (including Bitcoin). But for the good of the project he decided not to.

Vast majority of holders (of Bitcoin) end up gaining more in long term than any traders of all crypto

So what? Bitcoin's the only crypto worth investing in? Why does it matter to you to compare DeFi/altcoins to Bitcoin so much? If you think Bitcoin is a stronger investment (and it may well be) then why does it make you feel like you have something value to say about by telling me that?

Example, my friend loses BTC while gaining USD (from BTC rising), by trading up, and he thinks he's winning. Do you understand why this is actually losing?

To be honest I don't actually get what you're talking about here.

 

[Castamir]

John McAfee is not kidding when he said he will cut his dick on the international television if btc will not reach 100k in 2021

Was that not the guy that was arrested for crypto price pumping and manipulation?

 

[Toz]

I still believe XRP will eventually become #1.
Let's get some excitement going!

Who else is BULLISH???

 

[jasonforrest]

Why doesn't saying things that are accurate matter to you? Most DeFi projects are governed using DAOs and are absolutely decentralised. Why do you think they're centralised?

you wrap Bitcoin with custody at Bitgo. Now decentralized (DE?) becomes centralized. So to call it DeFi, meaning Decentralized Finance is a lie for many situations & aspects.

To be honest I don't actually get what you're talking about here.

He trades BTC:USD, he's happy to watch $ go up while BTC rises, while his BTC goes down.
He started with 0.2 BTC, now he's traded til 0.17 BTC, but his $ value has gone up since the BTC price has risen. He thinks he's winning. Ofc if he just held his 0.2 BTC he'd be a much higher % up than now. Get it?

 

[Deleted member 1333509]

you wrap Bitcoin with custody at Bitgo. Now decentralized (DE?) becomes centralized. So to call it DeFi, meaning Decentralized Finance is a lie for many situations & aspects.

I don't know if that's true or not, but if it is that's one platform. Why is it difficult to see that a single platform doesn't make all defi centralised? Pretty basic stuff.

He trades BTC:USD, he's happy to watch $ go up while BTC rises, while his BTC goes down.
He started with 0.2 BTC, now he's traded til 0.17 BTC, but his $ value has gone up since the BTC price has risen. He thinks he's winning. Ofc if he just held his 0.2 BTC he'd be a much higher % up than now. Get it?

Yep - in defi this concept is called impermanent loss (loosely the same). What did you earn by staking compared to what you would have earned otherwise.

If this guy is planning to sell the BTC for use in USD purchases then technically he has made money. Not as much as if he held, but more than if he just held USD. I'm sure he is happy, why wouldn't he be.

 

[jasonforrest]

I don't know if that's true or not, but if it is that's one platform. Why is it difficult to see that a single platform doesn't make all defi centralised? Pretty basic stuff.

Well i'm telling you right now, wBTC (wrapped Bitcoin) is 3rd party custody with Bitgo (possibly being bought by Paypal soon). 3rd party custody is centralizing things.
DeFi is not decentralized. It's a marketing scheme.
Watch out ya'll.
DYOR.

Yep - in defi this concept is called impermanent loss (loosely the same). What did you earn by staking compared to what you would have earned otherwise.

If this guy is planning to sell the BTC for use in USD purchases then technically he has made money. Not as much as if he held, but more than if he just held USD. I'm sure he is happy, why wouldn't he be.

He did work (of trading), thought he was smarter than logic (appreciating scarce asset paired against a depreciating infinte USD) and ended up gaining much less (15% less approx). Also lacks patience.
I wouldn't be happy, but i'd also avoid those silly games.

 

[Deleted member 1333509]

Well i'm telling you right now, wBTC (wrapped Bitcoin) is 3rd party custody with Bitgo (possibly being bought by Paypal soon). 3rd party custody is centralizing things.
DeFi is not decentralized. It's a marketing scheme.
Watch out ya'll.
DYOR.

I guess you gave up on the impossible task of trying to align the idea that one DeFi platform might be centralised with the idea that the other 20 DeFi platforms now also have to be centralised.

I don't blame you tbh, it's probably the most erroneous statement you could have made and is another example of you just saying shit without caring if it's even accurate or not.

The truth matters mate. Otherwise why waste both of our time trying to have big boy conversations like this?

He did work (of trading), thought he was smarter than logic (appreciating scarce asset paired against a depreciating infinte USD) and ended up gaining much less (15% less approx).
I wouldn't be happy, but i'd also avoid those silly games.

He pays his bills in USD and he now has more USD by trading BTC than if he just kept his USD. He's generated real-world value and as such can buy more things - this shouldn't be a tough one for you to wrap your head around mate.


..No more of this bullshit JasonForrest my old mucker. It's reminiscent of getting a 10 year old and discussing how to select mortgages with them ..I'm trying hard but there's absolutely no value being created by discussing crypto with you I've found mate, and actually probably minus value..

Just keep on telling people DeFi's a scam, I'm a shill and that people need to DYOR (no mirrors in your house, huh?) and I'm going to let you have at it because this chat with you alternates between being mentally painful and cripplingly boring.

 

[rajkumar31]

Whales keep accumulating regardless of the price since they are in it for the long term