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Best DeFi protocols for passive income
- Thread starter JohnnyDoe
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Crypto in general and DeFi specifically are a new way of thinking about finance AND technology, meaning that you cannot REALLY understand the first w/o also understand the latter. For this reason, DeFi is not well understood from typical finance guys, while nerds got problems to grasp the finance part hence just rely on the tech. I suggest to closely follow projects like the last rebase-DAO - mainly TIME - amd see how they work - financially AND technically - before even thinking of investing in DeFi.
Said that, we are probably seeing new finance interactions that could side - or even in the very︀ long term substitute - the more traditional banking and investment world. Strongly suggest watching some︁ vids in YouTube about “DeFi Ohm forks” or “DeFi rebase DAO”, the Calculator Guy is︂ a good starting point for all the APY and financial part.
Said that, we are probably seeing new finance interactions that could side - or even in the very︀ long term substitute - the more traditional banking and investment world. Strongly suggest watching some︁ vids in YouTube about “DeFi Ohm forks” or “DeFi rebase DAO”, the Calculator Guy is︂ a good starting point for all the APY and financial part.
There are 1000s things you can put money in, it's not a binary choice between banks or online ponzi scammers
But regardless of that, there is a phrase fitting for "DeFi passive income" and it's "picking pennies in front of a train".
You can also sell put options if you want to generate 30-70% yield per year on your money, and it will all work very well until the stock crashes and you end up holding the bag. At least in the︀ case of a stock you can buy a piece of a company that actually does︁ something useful and is not just a ponzi
But regardless of that, there is a phrase fitting for "DeFi passive income" and it's "picking pennies in front of a train".
You can also sell put options if you want to generate 30-70% yield per year on your money, and it will all work very well until the stock crashes and you end up holding the bag. At least in the︀ case of a stock you can buy a piece of a company that actually does︁ something useful and is not just a ponzi
After Nixon, Fiat got fundamentals very similar to stablecoins, meaning tiny air support. Actually, most important challenge for stablecoins ain’t support but political/financial centralized control.
BTW in this forum I see very ridiculous these wars between pro and anti crypto: they both are just investment vehicles with pros and contras and it is as we should look at them. I personally invest in both and lose money exactly in the same way. smi(&%
BTW in this forum I see very ridiculous these wars between pro and anti crypto: they both are just investment vehicles with pros and contras and it is as we should look at them. I personally invest in both and lose money exactly in the same way. smi(&%
I still don't see how it's related to what I said.
And I don't agree with that, main challenges for stablecoins are two:
1) That each token is actually backed by $1
2) Regulation
My first reply was referring to the fact that︀ UST is not backed by USD in a bank account, it's an algorithmic stable coin︁ and there have been a couple of those before that have crashed before. Furthermore, the︂ MakerDAO founder said that it's basically a Ponzi.
And I don't agree with that, main challenges for stablecoins are two:
1) That each token is actually backed by $1
2) Regulation
My first reply was referring to the fact that︀ UST is not backed by USD in a bank account, it's an algorithmic stable coin︁ and there have been a couple of those before that have crashed before. Furthermore, the︂ MakerDAO founder said that it's basically a Ponzi.
Wrong. You're confusing tokens. I'm talking about UST, not USDT, they're completely different tokens on different blockchains. USDT is backed with what you said, UST is an algorithmic stable coin.
DAI is backed by other cryptos (mostly ETH), but also other stable coins such as USDC.
USDC is backed by USD and US bonds
BUSD is backed by USD
USDT is backed by USD (less than 4%), corporate and government bonds, and other commercial papers. USDT is the least transparent.
DAI is backed by other cryptos (mostly ETH), but also other stable coins such as USDC.
USDC is backed by USD and US bonds
BUSD is backed by USD
USDT is backed by USD (less than 4%), corporate and government bonds, and other commercial papers. USDT is the least transparent.
100 years is wrong claim as that Ponzi had several changes already.
1971 was a "new version" due to the removal of Gold and changes were made after end of war in 1945 as well 😉
Cryptocurrency is when following your analogy backed by the some of the smartest people with a very high technical literacy voluntarily coming together which dwarf the military warheads︀ stuck in the last century where everyone is just stuck there by force or due︁ to no alternative in the market economy.
Further, force and torture do not scale especially︂ not in a time where wealth is not determined by land mass but "just" the︃ power to innovate and the productive capacity of people. What good is your military when︄ the whole wealth of a place is its innovation capacity and the creativity of its︅ people? You can not effectively steal it.
Only 30%? I had 0 fatalities and they︆ even survived a 50%+ drop in market including the bear market last summer. You just︇ gotta know what you do.
So, the monetary system and also the political one is︈ due to an extensive overhaul due to technical shifts. That is no mystery nor voodoo︉ magic by some aliens but just the way of history. Big changes in technology are︊ the precursor of big changes in society.
1971 was a "new version" due to the removal of Gold and changes were made after end of war in 1945 as well 😉
Cryptocurrency is when following your analogy backed by the some of the smartest people with a very high technical literacy voluntarily coming together which dwarf the military warheads︀ stuck in the last century where everyone is just stuck there by force or due︁ to no alternative in the market economy.
Further, force and torture do not scale especially︂ not in a time where wealth is not determined by land mass but "just" the︃ power to innovate and the productive capacity of people. What good is your military when︄ the whole wealth of a place is its innovation capacity and the creativity of its︅ people? You can not effectively steal it.
Only 30%? I had 0 fatalities and they︆ even survived a 50%+ drop in market including the bear market last summer. You just︇ gotta know what you do.
So, the monetary system and also the political one is︈ due to an extensive overhaul due to technical shifts. That is no mystery nor voodoo︉ magic by some aliens but just the way of history. Big changes in technology are︊ the precursor of big changes in society.
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