If you did use them during the peak of the bull run you would:
* Take out a loan using your BTC and ETH as collateral and get liquidated
* Take out a loan to add more BTC and ETH to your position and get liquidated
* Play decentralized lotteries and get liquidated (but slowly)
* Yield farm your way to zero net worth because every single farm token is down in the gutter
* Stake your ETH in Lido and then take out a loan based on your stETH (get liquidated)
* Invest in Abracadabra and Wonderland only to get royaly rekt by the dev and his partner in crime
* Invest in OHM because it is DeFi 2.0 and get double rekt
* Leverage trade on DYDX and get liquidated
Yes, DeFi and Web 3.0 are awesome… You should try them sometimes.
Think you have a bit of PTSD OP. Hopefully you’ll start making better decisions
Yeah you know, if you don’t leverage yourself like a degenerate, you don’t get liquidated and get free money instead. Your list is just nonsense.
Or you could not max out the loan on your collateral…
TLDR: Don’t play with things you don’t understand or you get rekt’d.
Idk man. Sounds like you lost a lot? I am very happy with defi, nearly doubled the coins i had. Ofc dollar price is down, but it would have still be down even if i didn’t play with defi (i would just had fewer coins). Ohm and wonderland’s apy shoild have been a big red flag for ppl anyway, but still some made money. About LPs come on thats free money (unless you are playing with some shitcoin). Borrowing and lending you just have to watch your things a bit too often but still profitable…
I mean you could loose money with defi if ypu really try to… Idk man…
Here ladies and gents you can see a gambling degen who got burnt in his natural habitat
Edit: pls don’t feed!
Why are you assuming that we would take out a loan as collateral in the form of BTC and ETH?
You would’ve gotten more love here if you flaired this “comedy”
I bought part of a house in memphis on defi.
Sounds like you need to find some better defi projects.
Also earning $50 a day from 2.5k on defi, God bless defi.
or you could also invest in netflix, leverage 25x and get rekt there … just because you are making bad decisions doesn’t mean that something is inherently bad.
Sounds like you had a rough experience OP , I’m assuming you’re speaking from personal experience 🤣
So a day ago a top post was “your missing out on Web 3.0 and DeFi”. Now comes out the opposite.
Typical r/cc
Ouch, definitely a guide on what not to do during a bull run, haha. Luckily I only did 2 things on your list!
I didnt do any of these whilst being up to my neck in DeFi.
Buyer beware.
If you know everything about Defi, you should definitely use that to maximise your returns but if someone is new in Crypto and don’t have much knowledge about how this works, then they should learn about it first before jumping in
“Yield farm your way to zero net worth because every single farm token is down in the gutter”
Seems like you haven’t heard about Cosmos/ATOM yet.
That list makes no sense if you see this closely.
Yeah bc these are the only things you can do with defi… lol
You live you learn 🤷🏻♂️ lucky I’ve made fuck loads more than I’ve lost.
Well you are bitter because you leveraged at ATHs? That is a dumb fuck move. Short at ATHs and leverage longs at lows.
Do some research and don’t ape into projects promising the moon.
Sounds like a good place for OP to get liquidated.
Dude, just dont take out a loan on crypto or invest in sketchy projects
If leverage is your best advice i would pass. Thanks
Second post, one more please to complete the triology
Cute
I only scored 2/8, do I still get a prize? Learned a lot of lessons though which will stand me well going forwards.
Is there a r/buttcoin subreddit for DeFi haters that are either upset that they don’t understand it or missed the boat? If not this is a great inaugural post.
Good god another one of the FUD brigade. U pop up like mushrooms after the rain whenever the market is down.
That s what happens when you buy something you don t understand
How to become a real world squid games candidate…
Guess someone got liquidated
OP gambled, lost, and now blaming the casino.
seems like you are a bit salty, cause you didnt manage your risk….
Web 3.0 as of right now is pretty much useless and all talk. It definitely doesn’t live up to what web 2.0 was.
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This all really does sum up my experience with DeFi. Unless it’s a simple swap you will lose money most often unfortunately. I’ve lost so much…