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DeFi The New ICO

Omar Hannoun
June 25, 2020 • 
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The game has changed, trading is passe, welcome yield farming

Here it is, the 16th edition of The FUD, where I talk about the biggest FUD of the week. I help clarify events that crypto twitter decides to escalate. Leggo.

This week has been great, from a troll with a degree of sophistication that words cannot explain to the launch of a new hype season fueled by DeFi and yield farming.

Bitlord — The sir of all sirs

Can’t believe he pulled it off…

The sir has spoken, he changed his profile and dropped the @, Bitlord decided to impersonate Dave Portnoy of Barstool, the sports better-gone stock trader and announce a joint venture with the one and only Peter Brandt, CEO of Factor a global trading firm. 

Did not even stop there, he slid into the DM’s and ran with it, this was not a simple troll. The level of sophistication is mesmerizing.

This is art.

The Biggest Douche of Them All

There was tragic news this week, we all knew the Robin Hood trader era would end badly, well it was a bit more disturbing than a financial loss.

A young trader, 20 years old, woke up one day to see his account at a huge loss, quickly he felt his. life was over, he did not lose his investment, his balance indicated a loss of $730,000. 

He. thought life was over and took his own life away in a moment of despair. To add to the pain of the moment, the loss was not even real, the trader did not understand how options work and the balance was just a figure being displayed until the account settled. Yes, the loss was not real. 

Such a sad story, I mean suicide is serious, people listen up, do not waste something as precious as your life over fiat, I know money is very important but if you lose money you can just make more, it honestly is that simple, do not let it dictate your life, money doesn’t make you.. you make it… 

Enter the biggest douchebag in the world: Tone Vays.

LIKE SERIOUSLY BRO? How TF did heaven think. this was slightly appropriate, actually, forget that. What kind of human being reads a tragic story like this and. thinks, you know what, this is funny but good time to capitalize on it and give myself a plug.

I mean I thought that was the douchiest thing id ever seen. Well done bro, you’ve outdone yourself. Keep striving for excellence.

The Cat Fight

Since we are talking about Mr. Vays, guess who decided to start a fight she can’t win this week? the queen of cringe, Crypto Finally.

Ashtoshi has expressed her dislike of thoty behavior in the past, and rightfully so, anyone can show bobs and get engagement, it takes character to do it without. I think Ashtoshi just had enough of it and got bored so she beat Crypto Finally at her own game. 

Within minutes every nerd on CT (so everyone) was drooling.

Crypto Finally tried to clap back, no one was taking any of it.

Do NOT throw stones if you live in a glasshouse. 

And hey numbers don’t lie, guess in a way Ashtoshi proved her point. Good on you, keep slaying.

Paypal to Support Bitcoin 

So I thought this would be big, last week we had vending machines accepting Bitcoin, this week it’s PayPal.

Yes, the payment processing giant is going to bring Bitcoin to millions of users globally. Now I believe the deal is more of an ETF sort of Bitcoin product, not actual Bitcoin but still, it’s great exposure. 

I can’t wait for the first “Bitcoin” transaction to be reversed by PayPal.

DeFi Moon Season Initiate 

Funny how the world works, we knew a bull season was coming, we didn’t know what the next big thing was. People spoke of STO’s and IEO’s. 

It was neither, welcome to the new era of DeFi. Trading has become passe, yield farming is the future.

Of course, as with all things happy to ride it up, I mean at its essence the core of DeFi is decentralization and from a personal stance, I support decentralization. DeFi allows people to access traditional financial services such as borrowing and lending, it allows a to borrow against a digital asset effectively allowing them to utilize their funds and pay it back or use it as a too to enter into a leveraged position. 

This is all-new, and it will take more than a FUD piece to explain it all, but ill make sure we run a Whisky and Wicks focused on Defi and Yield Farming.  

Unfortunately with a new moon season we are bound. to. see more of this. Hey nothing comes for free right?

The Trade

We pumped hard this week. LINK went to the moon, $REN, $COMP, $BAL even good old ETH retested the highs. 

But the king wasn’t ready, Bitcoin was unable to break out and now back down we go, I see the ranges getting tighter and that’s a good indication to be ready for a big move coming next. 

The new rand I’m watching is $9300-$9700 break up we are free, break down and welcome back the bear.

This chart is one of the best. I have ever seen information-wise, the reality is everything we’ve done in the last month and more has just been bouncing in a range. Don’t get emotional, watch the levels, Do not long the tops, do not sell the bottom, mark the range on. your chart, do not get cucked.

I think I may have been wrong with the bearish prediction for 2020, it seems DeFi is fueling a moon run, I was hoping for 2021 to accumulate more but hey nothing is confirmed yet and it’s never late to stack.

Moonbags I’m watching: $LINK $REN $RSR and I hate to admit it but $ETH, the same way ETH fueled the ICO run, it fuels DeFi. Please don’t fomo watch the levels, also don’t get stuck bag holding, too early for this warning but remember to me these are all trades. I’ll multiply my $BTC holdings through this play, and that’s all it is, to me at least. Stay safe and get that paper kings.

Hope you all enjoyed the update, follow me @TheBitcoinaire and @MineDigital on twitter and medium to stay updated on The FUD and Whisky & Wicks. For the best rates in Australia guaranteed use Mine Digital. Mine Digital also has insured custody so don’t worry about your funds.

Please note this is not intended as financial advice. Always do your own research. The writer holds (and is biased towards) Bitcoin. The writer’s thoughts are his own and do not reflect those of Mine Digital.

Written By

Omar Hannoun

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