I'm pretty deep in DeFi and wondered if anyone is keen to learn?

[xenon]

What is DeFi?

 

[littlebabyjesus]

Guess it's the same with that digital art stuff. With online shows of guys talking about how they bought 5 and sold 2 for five times what they bought the 5 for. They need to convince peeps them arts are 'a thing' otherwise what they have is a pocketful of moonbeams.

It all reminds me of tulips.

Yep. Greater Fool Theory

 

[friedaweed]

Can a mod close this thread. Me and Harry have taken this to PM and my in-laws are selling their house to get things off the ground

I'm not for sharing this unique opportunity to get rich.

 

[littlebabyjesus]

What is DeFi?

Decentralised Finance

Except it isn't really decentralised... or finance.

 

[friedaweed]

What is DeFi?

Be off with you.




There's nothing for you here...

 

[Puddy_Tat]

What is DeFi?

deep fidelity

it's like a sound system, but underwater

 

[friedaweed]

Decentralised Finance

Except it isn't really decentralised... or finance.

It's the future and Harry's all mine. Please leave this thread

 

[friedaweed]

deep fidelity

it's like a sound system, but underwater

Where as 'deep fiddling' is what you do in the bath when you're on your own with a new bar of imperial leather.

 

[littlebabyjesus]

The first rule of DeFi Club is that you always talk about DeFi Club, to everyone, all the bloody time.

 

[Ax^]

trying to make money from memes

nfts really


that was just madness

 

[friedaweed]

The first rule of DeFi Club is that you always talk about DeFi Club, to everyone, all the bloody time.

and that's when you wake up one morning and realise you've been talking to yourself all that time because everyone including anonymous piss takers on ageing bulletin boards have either been ignoring you or encouraging you to go even deeper in the bath.

 

[Shippou-Sensei]

What coins should I buy Harry?

Chocolate ones

 

[UnderOpenSky]

Bit late but the guys genuine. I probably should have directed him to the bitcoin thread before he posted

 

[moochedit]

What is DeFi?

Don't ask or one of the cryptonuts from the other thread might answer!

 

[moochedit]

Bit late but the guys genuine. I probably should have directed him to the bitcoin thread before he posted

A genuine crypto loon

 

[8ball]

Hi Harry,

Please ignore all the naughty jealous people.
So, bitcoin - up or down over the next 14 days?

 

[Gromit]

Hi Harry,

Please ignore all the naughty jealous people.
So, bitcoin - up or down over the next 14 days?

Yes.

Bitcoin will indeed be up or down over the next 14 days.

 

[Ax^]

Bit late but the guys genuine. I probably should have directed him to the bitcoin thread before he posted

aww well advise he to wander into that thread

jesus the FTX lost Billions over the weekend and you sent him to meet us lot


Who is Sam Bankman-Fried, the FTX ex-CEO who lost billions in crypto?

he got off lightly to be honest

 

[Orang Utan]

I don’t get how you can be counted a billionaire if you can lose it all overnight. Surely you never had it if that was possible?

 

[8ball]

I don’t get how you can be counted a billionaire if you can lose it all overnight. Surely you never had it if that was possible?

Money gets really weird when it gets really big. It’s like day to day physics vs. general relativity.

 

[Orang Utan]

Surely money is only money when it’s real, ie cash in accounts not shares or whatever

 

[8ball]

Surely money is only money when it’s real, ie cash in accounts not shares or whatever

Money, in its ultimate form, is more like an opinion (or the outcome of a set of opinions) than it is like a solid entity.
That's why your money is worth less this year than last year, and will be worth considerably less next year.
Mine too.

 

[Orang Utan]

Nope, don’t get it. If it’s not in your bank account or in a sock under your mattress, it’s not money so you were never rich

 

[Puddy_Tat]

or in a sock under your mattress

you obviously haven't got in to cryptosocks (TM)

 

[8ball]

you obviously haven't got in to cryptosocks (TM)

You want some decent cryptoboots if you're gonna get deep in DeFi.

 

[8ball]

Nope, don’t get it. If it’s not in your bank account or in a sock under your mattress, it’s not money so you were never rich

You're rich if you own a lot of a thing that can be sold at a particular price.
People buy and sell money all the time.

Even if the thing only has value because a lot of people say it does (or hope it will have more value later).

There are proper grown-ups on here who can explain this stuff way better than me.

 

[UnderOpenSky]

Nope, don’t get it. If it’s not in your bank account or in a sock under your mattress, it’s not money so you were never rich

Just like cypto it's only worth what people think it is, it's not like it's backed by gold anymore. If most of the world decides tomorrow the pound isn't worth anything, then you might as well hold bitcoin. Of course for many reasons this is very unlikely to happen, but it's not totally different.

 

[UnderOpenSky]

You're rich if you own a lot of a thing that can be sold at a particular price.
People buy and sell money all the time.

Even if the thing only has value because a lot of people say it does (or hope it will have more value later).

There are proper grown-ups on here who can explain this stuff way better than me.

Do you want to buy a rare pepe nfc?

 

[moochedit]

Nope, don’t get it. If it’s not in your bank account or in a sock under your mattress, it’s not money so you were never rich

They * could * have been "rich" if they sold when price was higher than they bought it for but people get greedy when that happens and think it'll keep going up forever so they wait and wait and ...crash

 

[Supine]

They * could * have been "rich" if they sold when price was higher than they bought it for but people get greedy when that happens and think it'll keep going up forever so they wait and wait and ...crash

The irony is they are only “rich” if they convert their magic coins back into real money