CREW TECH OFFICIAL Crypto Thread (or you can check out the stonks thread for crypto talk too lmaooo)

MarylandTerps

Well-Known Member
Sep 9, 2011
6,605
St. Petersburg (not Russia)
The thing about defi was that the main draw was earning higher yield than tradfi. Otherwise, why deal with all the risk of maintaining keys and having no protection against smart contract exploits or couhterparty risk etc.
But the yield is created out of thin air and CEXs need to do risky shit with user funds to pay out that yield and still turn a profit.
The system is so fucking broken and all this contagion is just exposing it all.
I knew the whole time defi yiejd was just a giant ponzi, but I just went along with it, because tradfi is a fucking ponzi too and as long as crypto adoption kept going it could adjust to sustainable levels over time.

I think the good idea of DeFi is to remove the greedy middle man and thus be able to get a better rate than .5%

But that doesn't suddenly jump you up to 200+% APY, to get a chance at that you're taking on insane risk. And many, myself in some cases, were willfully ignorant to that during the bull
 
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Hisma

OT Supporter
Apr 2, 2006
53,298
Reno, NV
I think the good idea of DeFi is to remove the greedy middle man and thus be able to get a better rate than .5%

But that doesn't suddenly jump you up to 200+% APY, to get a chance at that you're taking on insane risk. And many, myself in some cases, were willfully ignorant to that during the bull
Yeah I've said many times here I still believe in crypto and what it represents, defi included. Open ledger, frictionless movement of money without borders and middlemen. It's the future one way or another.
Just need to root out the bad actors. And this FTX shit is gonna help speed run the process. Sucks so many retailers getting burned in the process.
 
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chubby

Well-Known Member
Jun 7, 2006
15,133
Orange County, CA / Phoenix, AZ
For reals, it was being advertised like crazy, but of course there were disclaimers and such.

Surprised no one here has gotten caught with their pants down and their funds wiped or stuck on exchanges. Or i hope not at least?
 
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dorkultra

OT Supporter
Oct 14, 2005
27,672
nilbog, trollhio
For reals, it was being advertised like crazy, but of course there were disclaimers and such.

Surprised no one here has gotten caught with their pants down and their funds wiped or stuck on exchanges. Or i hope not at least?

i had about $75 worth of NEAR on FTX :/

also the court papers show i have $3k+ stuck on celsius, but i pulled nearly everything :dunno:
F4olhb8.png
 
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