It's actually pretty neat, maybe the first real use case I've seen Ethereum serve. Gonna try to read up more about it. Thanks for sharing, Kaz.

Uh oh, Vitalik is basically agreeing that this is a ponzi.

vitalik always been real.. said we didn't deserve the market cap in 2017.

kazuya is clearly a smart dude and catches some of the fads early to make money. ultimately, get into too late on his ideas and you might get crushed.

If anyone is into sports betting, check out Degens.com which is an ethereum based peer to peer sports betting exchange that uses smart contracts.

No KYC, 100% anonymous.

#supplygate is too funny.

Thought I'd bump and mention a few very good podcasts from funds that invest in DeFI. Covers quite a bit of bandwidth and is good time value investment to begin to better get what's up:

#1: Bankless - #28 Bull case for DeFI (Very good mind in the space talks about 2 projects / breaks them down + thesis on the space)

#2 Bankless - #26 Investing in DeFI Paradigms (great thinker in this space, his views largely resonate with a lot of my own and also touches on BTC -- so perhaps some bias here but he is good.. may be too technical if newer here to crypto)

#3 Hidden Forces - #148 Vance Spencer (Same guest as #1, walks you through the space from taking questions from the host who isn't in this space so you can actually understand (great one to start one, I would perhaps start here of the 4) what it is he's talking about and breaks down a specific project [Synthetix] about why it or protocols like it will inevitable disrupt traditional finance business models')

#4 On the brink with Castle Island - Finding value in DeFI with Kyle Davies. Another good mind for DeFI space + comes from traditional finance guy and can help bridge your understanding between the two and talks more about where the space may be going + longer term trends. Shows just how early we are still.

I hope at least someone looked into YFI when I posted about it ~40 days ago on this page. Fwiw, it still has better P/E cashflows than most tech companies with (IMO) better growth prospects even after the price discovery.

Also, DeFI has also more than doubled from 4B to 9B in the last 40 days and like I said 40ish days ago I expect this to continue going (with pullbacks along the way). My only main concern right now is a global financial meltdown, which of course impacts crypto too. However, if you're a lurker and want to understand more what's going on I think these podcasts are very good signal/noise. Also, to be clear here for those who read this, DeFI is a very long term play and once you begin to understand the landscape you'll see we're likely in the bottom of the 1st inning here at absolute most.

Will check those out, thanks for putting it together! Good call on YFI, hope you made some $$.

Dumb theory, when "ETH 2.0" launches the tiktokers/davey day traders pile in and we go parabolic.

I don't think it's dumb. Hype cycles need a catalyst and Eth 2.0 shard chains launching in late 2021 is as good a catalyst as any for the FOMO blow off top before the next correction.

your AELF boy got a farm going now
https://sashimi.cool/

can this idiot please come back now? I would love nothing more for him to shill yfi and then have to come back and explain how the forward PE was all wrong because the top was the end of the S curve TVL/AUM inflow. And then he can talk about what happens to earnings when rates normalize.



edit: as irony would have it, he has already shilled yfi. I swear I did not see his last post before I made mine

Yfi is the best thing that happened to Ethereum. It's listing on Coinbase in 3 days. It will moon.

ok, I dont doubt it, but lets talk long term valuation now

now explain to me how the next 5b in TVL and AUM happens in yfi. its tied to the growth of usdt/c/dai
now explain what happens to yfi earnings when rates normalize to 0-10% than 20-80%


at some point people are going to run out of money or collateral when their carry cost is so high.

also plz, dont even get started on the possibility that one of these yfi vaults end up margin called during a flash crash. gas limit 100000000 please!

I should be fair because unlike pump n dump kazuya I have a position in yfi.

I mentioned YFI as a project (and mentioned I was farming it) July 22nd I believe and let people know it's worth trying to begin to understand. This was before it was "hyped" cause all you'd have to do is go look @ a price graph and see it was relatively undiscovered and a mere fraction of it's valuation now. I'm not going to say what I'm doing now with it, what I hold on what timeframe, even what I am farming right now specifically cause people like you (as I've said many times) completely ruin this thread. Imagine the mental gymnastics you have to go through in your head to come into an Ethereum thread, see someone post about an interesting project where I don't once use the word "BUY", see it go over 10x in <40 days, and somehow your toxic personality wants to attack that person? For those who don't know our history: The moderators here just basically go hands-off and Aggo's of the world who post absolutely zero content and only vitrol / hatred towards others are why we can't have nice things w/out ban hammers going. His views on this space, metaphorically speaking, are like a hardcore religion where there is only the "chosen" coin and everything else is a scam. Basically the archetype of a religious nut who you cross the street when they yell at you.

But I will say this cause it's hilarious, how bothered are you that I managed to farm + market buy more of a coin that flippened your pet rock BTC 3x over in under <2 months.. and you're still trying to throw jabs at me? Truly lol. Please keep sticking your head in the sand. You still conveniently haven't mentioned your ETH/BTC ratio prediction so do share so you can further embarrass yourself and it shows you also have zero conviction in your own analysis, and only can attack others for their thoughts.

The beautiful thing about you taking positions in DeFI is I know you'll get absolutely wrecked long term & place awful bets w/ wrong sizing cause you don't understand **** about this space, likely won't be able to even know how to take positions (or in what) and it's so blatantly obvious to anyone who does have a handle on it. So yeah have fun w/ that. For the rest of us, enjoy the ride and play the long game here and expect a bumpy ride along the way and adjust accordingly. The biggest tip I can give this thread is the sooner you ignore the Aggos you will be a happier (and richer) person long term. Have an open mind and understand everything is dynamic and evolving.

I'm sorry, you know nothing about me, but good projection. I thought about trolling you on the governance board a few times already

buddy,

you shilled your heart out everyday in 2017/18. As discussed, your returns/roi dont matter, this is an anonymous Internet forum-- imagine trying hard to show how big your edick is now. plz. I had a problem with you because I knew you were pump n dumping your bags onto noobs here. Predictably, when your bags went -30% on the way to -95%, you ran away. MIA/KIA'd

that's ok! because people take Ls all the time. but dont come back claiming any type of moral, ethical, or ideological high ground. you got none my friend. Again, that's ok but if you dont stop drinking your own koolaid you'll never have learned why I knew you were a big fat joke in 2016/2017.

(you know, not drinking your own koolaid allows you to talk infinite **** about a project and still make money being long)

The 24h liquidity/volume of projects I was "in" in 2017/2018 were measured in the 10s of billions. To somehow think a small internet forum -- a sideshow -- would even reflect 1/100,000th of the daily volume of price movements of these tokens? How does your pea sized brain come to that conclusion?

The irony is I have had dozens of people ask me privately in this space over the years, and especially in the last few months to manage their capital for a fee + alpha generated. The complexity/pace how fast DeFI is moving has so much nuance and if there are people to "trust" it's a no brainer for those who don't have the bandwidth or time to deconstruct it. I've turned it all down + don't even want that responsibility or ever had had that responsibility, and never taken ONE dime from anyone ever in this space for any analysis or have ever any sold any product. I've turned down interests from people who want me to join a fund + create a more public persona. I don't even tweet publicly about projects, and haven't going back even before 2016. Everytime we defer to facts you come across like an absolute moron. All this is cause spoiler alert in case you still can't figure it out, it's cause I don't need it and if anything it slows me down + has ZERO upside for me.

So try to square those two thoughts together (tens of billions of trading volume everyday and a small internet forum + me turning down people who are trying to give me capital to manage) and figure out why you sound insane to continually repeat narratives based on nothing but the fact you're a miserable person trying to spread that to others.

Like I said your pea sized brain will get absolute wrecked in this space as it's completely out of your element. That's my advice for you but I enjoy you'll try to fade me here so I truly am asking you for my enjoyment please post your bets + share your own original convictions. What are you long and why? Is BTC still the only thing that matters and everything is going to zero? is ETH going to zero? (cue absolute incoming silence cause you have absolutely nothing to say. The fact you refuse to answer basic questions just makes me laugh. You can only ever attack others and have absolutely no ground to stand on)

I'm the guy who has consistently said this space is so much more than BTC, even at the absolute bottom in this thread, placed by bets accordingly and been rewarded for my conviction over all these last years. You're the guy who said BTC is the only thing that matters and everything else is a scam, and of course doesn't share what else you own (if anything) so you can play the game: Heads I win, Tails I win. The hypocrisy of having that stance and slinking into DeFI when your whole thesis you yelled in the forums about this space is being proven more and more wrong everyday. Like lol GTFO.

You know what, take the thread back. I come here and sincerely try to post + actually care about the sentences I construct and share here because I'd rather people do well in this space than not. Everything I post is in good-faith and something I either believed in at the time, or still believe in (like say Ethereum). To try and quote posts 3 years back and imply my views haven't adjusted over the years is completely disingenuous. I've talked about some projects that have mooned, some that haven't, and it is what it is.

Inevitably I get sucked into arguing with you cause I (and deep down you know it too) you are so full of ****, and I legitimately care about truth (in fact too much so, I'll admit -- If I was a bit wiser I'm sure I'd never even acknowledge you). So yeah, the floor is yours. I'm not going to post here again. You can go pollute it with your garbage takes from here on out and I won't bother to respond or explain why they're just that. For those who have perhaps have put weight into my words, don't assume things I said in 2020 hold true for 2021 onwards or vice versa -- there will be a lot of shifts over the coming months/years. I'm not responsible for other peoples' decisions in this space, I only have ever shared what I own + why and that's consistently been told to everyone over the years. Anyway yeah, enjoy Aggo the Ethereum thread, something you think is trash (but has outperformed your BTC from inception) is all yours.

Kazuya thought is fascinating, have to agree with the fanbois there.

Kazuya is in the unfortunate position of having his ego inflated at a young age by doing well in incredibly soft online NLHE and then having that inflated ego reinforced by betting early on Ethereum and winning big again. His posts reflect this.

The fact that he shilled AION, EOS and ICON in particular shows that he was just as lost as everyone else in 2017/18. These projects are completely worthless nonsense.

I haven't researched defi at all but it really feels like a fool me once, fool me twice situation looking in from the outside. There's no such thing as free money.

Price when posted and price now (in satoshis):

AION - 65000 > 1000
AELF - 13000 > 1400
ICON - 80000 > 4000
EOS - 60000 > 27000

How many donks followed this guys lead and got crushed?

Lol at picking only the losers in this post.

Now do ATOM, DOT (keep in mind 100:1 split), and DFINITY (doesn't exist yet but there are IOU prices)

Hint: at current DFN iou prices it's 780x from their publicly available seed round in Feb 2017

Kaz, do yourself a favor and build up an ignore list.