Crypto Gurus - Is DEFI a scam?
 

Crypto Gurus - Is DEFI a scam?

Smart contracts were all the rage, and nothing came of it. Now everybody is talking about DEFI. Sound like a scam to me.
Should I start my own DEFI then?

Thoughts?

IMHO everything with smart contracts is doomed to failure from an investment point of view (which isn't to say well timed money can't be made).

Case in point, ETH.
If you have ICOs, where you need to buy those coins with ETH, you suddenly have a bunch of people that run these ICOs with a ton of ETH. They now need to sell their ETH in order to fund their "projects" so all this ETH gets dumped onto the market...

Uniswap seems like an online casino.

IMO Defi is ICO 2.0.

I don't believe most Defi is scam, but seems like a massive house of cards.