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This wasn't how I had yield-farming described to me by people very knowledgeable on it The way I had it described involved at least 2 types of coins, with vary
by gavinray 4y ago
This wasn't how I had yield-farming described to me by people very knowledgeable on it
The way I had it described involved at least 2 types of coins, with varying rates on different platforms. And a sort of cyclical loop where you were borrowing on one platform + token, to buy more of another (different) token, with a price inequality between them that facilitated this loop infinitely.
It was described to me as blatantly "degenerate" and "the equivalent of a money-printing machine/a bug in game code."
I don't see anything wrong with it. Money isn't about ethics, and the people who explained this to me make several times my annual income from doing this.
Personally, I don't want to invest the free time to try to keep up with all this crypto stuff.