They are both in the same boat even though it does not look like that.
I personally see DeFi working like thisā¦
People use savings accounts to gain interestā¦
I see (in the future more and more) these types of accounts moving over to DeFi platformsā¦more gainsā¦
Bitcoin I could see as a store of value⦠people invest in Gold ⦠they would eventually invest in BTC as they do in gold now. Not saying Gold is going anywhereā¦
In the crypto world though I could see people investing in BTC as they do in Gold in the fiat world. However the difference is they OWN their BTC more than the gold (unless they are purchasing physical gold of course)
Again, just opinions and thoughts
Defi isnt a coin or token. Its cryptocurrency platform to make liqudity pools. That money that some one invest (in some stable coins or btc, eth, trx, etc) will mint platform token. Then you can borrow that token from platform, with deposit some of your oun crypto and do what you want to do with this loan. then you repay and part of it goes to holders, that invest.
DeFi stands for decentralized finance, so its a huge theme.
Model, that i wrote above, is what popular to call defi platfrom today. There are many of them. Maker and Dai are example to google it and research for yourself.
Agreed, ETH is more of a core for Defi. There are some projects that focused to bring BTC to the game as well.
Wrapped BTC is something Iāve heard about but havenāt read into it to be honest
100%! Decentralized Finance ā¦I tell all my friends about it. Tell them to read up on it all the time.
Iām doing the same. Nobody listens though. lol
Its very raw today. Give it couple of years, imo. Just watch and learn. Its too insecure, an smaller defi/exchange cant get propper security, sad, but fact. Read about flash loana attack on defi. It will keep you aware and shows the deep of knowledge, needed to make good choice on defi)
Can only be up from here. āDonāt Trust, Verifyā
Bitcoin is on another level way beyond any altcoins, it will benefit bitcoin instead because cryptocurrency are getting more popular, recently coinmarketcap added list of DeFi projects which surprice me that chainlink is a defi you can find it here coinmarketcap(dot)com/defi