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Started By
Message
re: Another Crypto network imploding (Celsius)
Posted on 6/19/22 at 10:47 am to tenderfoot tigah
Posted on 6/19/22 at 10:47 am to tenderfoot tigah
quote:
Is a decentralized Apple App store useable enough for you? Or decentralized banking services? Or decentralized phone service? Or decentralized exchanges? Or decentralized CDs? Or decentralized data storage? Or decentralized internet? The list goes on and on.
Do any of those services require me to own bitcoin to benefit from their use?
How much longer will decentralization be a magic buzzword? Because the masses seem to be quickly losing their enthusiasm for decentralization as they rack up losses from folding platforms and hackers and shucksters.
3
Posted on 6/19/22 at 11:08 am to JKLazurus
quote:
How much longer will decentralization be a magic buzzword? Because the masses seem to be quickly losing their enthusiasm for decentralization as they rack up losses from folding platforms and hackers and shucksters.
This is true and I think the right balance of centralization and decentralization needs to be found.
Making something decentralized just for the sake of it doesn't make it better, and people are finding out what they thought was decentralized really isn't.
We're seeing DAO's vote to literally steal people's money (happening right now on Solend). We're seeing whales blow up and take everybody out with them. The space is arguably just as centralized as tradfi considering how interconnected everything in crypto is and the contagion that occurs when one big entity blows up.
Posted on 6/19/22 at 11:27 am to rintintin
Decentralization is a hijacked word. These platforms aren't decentralized at all.
If people got into it and didn't FOMO, they would have realized this. Its a harsh learning curve.
If people got into it and didn't FOMO, they would have realized this. Its a harsh learning curve.
Posted on 6/19/22 at 1:21 pm to JKLazurus
quote:
How much longer will decentralization be a magic buzzword? Because the masses seem to be quickly losing their enthusiasm for decentralization as they rack up losses from folding platforms and hackers and shucksters.
Celsius is the opposite of Defi. Everything falling apart is as well.
True Defi is legit. Look at all the people here who have their funds on a centralized exchange. Probably most.
This post was edited on 6/19/22 at 1:24 pm
Posted on 6/19/22 at 2:25 pm to JKLazurus
quote:
How much longer will decentralization be a magic buzzword? Because the masses seem to be quickly losing their enthusiasm for decentralization as they rack up losses from folding platforms and hackers and shucksters.
All of the truly decentralized protocols are holding up just fine (aside from price action). Aave, Maker, Compound, Uniswap, etc. haven't skipped a beat.
Its only the centralized garbage falling apart. This is just further evidence of the anti fragile nature of well designed decentralized protocols.
This post was edited on 6/19/22 at 2:26 pm
Posted on 6/19/22 at 2:26 pm to Hulkklogan
quote:Yes indeed!
All of the truly decentralized protocols are holding up just fine (aside from price action). Aave, Maker, Compound, Uniswap, etc. haven't skipped a beat.
Its only the centralized garbage falling apart. This is just further evidence of the anti fragile nature of well designed decentralized protocols.
Posted on 6/19/22 at 5:28 pm to Hulkklogan
quote:
Its only the centralized garbage falling apart. This is just further evidence of the anti fragile nature of well designed decentralized protocols.
Only gives me that much more confidence in Defi moving forward.
Posted on 6/19/22 at 5:57 pm to Hulkklogan
quote:
Its only the centralized garbage falling apart.
Posted on 6/19/22 at 8:25 pm to Hulkklogan
LINK
quote:
AAVE/ETH, UNI/ETH and a few other DeFi/ETH pairs bottomed in May and haven't looked back.
Relative strength of the OG 'blue-chip' DeFi protocols is definitely worth watching over next few months.
Admittedly, this could just be a result of 3AC etc.. being forced $ETH sellers.
Protocols like AAVE have survived massive stress tests throughout this turmoil, and have highlighted why transparent/on-chain money markets are necessary.
If you are a secular crypto bull, accumulating a stake in these applications at these levels should be of interest.
Posted on 7/5/22 at 7:50 pm to Hulkklogan
We have a tiny glimmer of hope... about a.0001% maybe 
Posted on 7/6/22 at 10:54 am to 21JumpStreet
Saw some twitter threads on deep looks into the BVI bankruptcy filing - preliminary- looks like $.80 on the $1.00 is recoverable.
They appear to be paying off loans fully on chain, which leads speculation more towards full unwinding and bankruptcy.
They appear to be paying off loans fully on chain, which leads speculation more towards full unwinding and bankruptcy.
Posted on 7/6/22 at 10:58 am to eng08
Damn, I thought them paying off loans to release collateral was good news.
Posted on 9/5/22 at 11:06 am to Fat Bastard
quote:
wonder if his NFT stuff crashed also. how do you think that stuff will hold any real value? for any length of time?
degods are 575 floor and im making thousands per week/month in DUST yield alone
thanks for asking
im quite fine mentally and fiscally.
i left this forum because its full of 75 IQ bozos and my brain couldnt take readinf it any longer.
This post was edited on 9/5/22 at 11:17 am
Posted on 9/5/22 at 11:13 am to iAmBatman
quote:
Well if you can access your "assets" or convert them to USD, you're gonna have a bad time.
lol my bitcoins were in nexo (which i said repeatedly). never touched Celcius because thee founder is an idiot
invest in smart people, avoid this forum
life lessons for all.
This post was edited on 9/5/22 at 11:16 am
Posted on 9/5/22 at 11:20 am to Parallax
quote:
Hopefully rocket re-reads it and learns from this... being both a douche and completely wrong is no way to go through life.
only thing i missed was luna, which i openly admitted, i lost a chunk, but nothing life changing.
thanks for the lessons though bubba
my degods portfolio is up 3500% this year alone, once again out performing all you bozos with fn jpegs
lmao
This post was edited on 9/5/22 at 11:22 am
Posted on 9/5/22 at 2:43 pm to rocket31
Glad you’re ok bud
Posted on 9/5/22 at 4:04 pm to rocket31
Yet you find time to talk shite on a message board…
Posted on 9/5/22 at 4:47 pm to METAL
We were discussing on the crypto discord how we hope Rocket is okay, and here he is calling us bozos. Some things never change.
Posted on 9/5/22 at 5:57 pm to Grievous Angel
Unless it's a glitch, I'm pretty sure that's illegal.
Posted on 9/5/22 at 7:21 pm to rocket31
You openly advocated putting money in Celsius. Risk free, according to you.
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