It is a pleasure to see large firms getting involv
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Posted On: 05/27/2021 9:00:59 AM
It is a pleasure to see large firms getting involved in crypto. I don’t feel sorry for SFOR not getting any of the money, if Kevin or Carl invested in SFOR - IMHO management of sfor would be taking advantage of them. And that’s not cool.
Thoughts on DeFi - Binance has really made a formidable effort to compete with Ethereum for smartchain transactions and yield farming through PancakeSwap using BNB as the token for purchasing the other tokens and using the CAKE tokens for staking yields of 70-110%. Kevin O’Leary is spot on about DeFi yields just for holding crypto. It is in fact compelling to where to can earn $10,000 in crypto in a year on a $10,000 investment and be fully into house money in a year’s time.
When you loan out crypto for staking yields also, and you are on certain platforms, it can also end up yielding more tokens for your staking. For example I earn BTT on one platform daily and with this recent dip I started getting more BTT. So when things pick up my daily interest actually increases. Of course this platform also surprised us by releasing the Space token and now I have 10,000 of those as well and people have realized to a small extent the passive income boost this provides and have driven the price of the token up a bit. At any rate not to ramble - but Kevin is correct in his big picture assessment and I think Binance is a formidable challenger to Ethereum’s lead in the space.
Thoughts on DeFi - Binance has really made a formidable effort to compete with Ethereum for smartchain transactions and yield farming through PancakeSwap using BNB as the token for purchasing the other tokens and using the CAKE tokens for staking yields of 70-110%. Kevin O’Leary is spot on about DeFi yields just for holding crypto. It is in fact compelling to where to can earn $10,000 in crypto in a year on a $10,000 investment and be fully into house money in a year’s time.
When you loan out crypto for staking yields also, and you are on certain platforms, it can also end up yielding more tokens for your staking. For example I earn BTT on one platform daily and with this recent dip I started getting more BTT. So when things pick up my daily interest actually increases. Of course this platform also surprised us by releasing the Space token and now I have 10,000 of those as well and people have realized to a small extent the passive income boost this provides and have driven the price of the token up a bit. At any rate not to ramble - but Kevin is correct in his big picture assessment and I think Binance is a formidable challenger to Ethereum’s lead in the space.
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My comments are only my opinion and are not to be used for investment advice. Please conduct your own due diligence before choosing to buy or sell any investment.