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> but DeFi actually is a giant circular digital economy which doesn't create real world wealth. Isn't this true of the entire cryptocurrency cult though?
by headmelted 5y ago
> but DeFi actually is a giant circular digital economy which doesn't create real world wealth.
Isn't this true of the entire cryptocurrency cult though?
- mszcz 5y agoI've used DeFi and haven't been scammed. Fees being what they are now aside, I liked the experience. As not being scammed goes, I just avoided everything that was super new (like a project 3 days old that already has $3b in TVL), avoided things that sounded super scammy (Most recent one coming to mind being SQUID token. I mean, come on), avoided things that had no real reason to be, avoided things that I didn't really understand despite research. My most successful investments are those made in crypto winters, during "see? crypto's over".
- mschuster91 5y ago> Isn't this true of the entire cryptocurrency cult though? In the real world, "crypto holdings" are IOUs with a dynamic value of how much is being owed. This absolutely can create (and especially transfer) real world wealth.
- deleted 5y ago[deleted]
- Spooky23 5y agoThe problem is that the advocates think crypto is cash, it’s really more like silver - highly volatile, highly attractive to scammers.