Defi isn't real

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Sarah Manter
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Defi isn't real

Post by Sarah Manter » Fri Jun 17, 2022 4:11 pm

"DeFi isn’t real, and the entire industry is currently being drowned by a cascade of fake tokenized debt." Read more in Steve's latest blog post: https://prohashing.com/blog/defi-isnt-real
thundergun
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Joined: Tue Apr 13, 2021 7:58 am

Re: Defi isn't real

Post by thundergun » Sat Jun 18, 2022 9:19 am

Great info!

What can we expect in terms of BTC profitability if option 3 plays out?
(too many variables to speculate on ETH mining)

Seems the BTC Hashrate has not been downwardly affected as some people expected at this point.
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Steve Sokolowski
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Re: Defi isn't real

Post by Steve Sokolowski » Sun Jun 19, 2022 8:01 am

thundergun wrote: Sat Jun 18, 2022 9:19 am Great info!

What can we expect in terms of BTC profitability if option 3 plays out?
(too many variables to speculate on ETH mining)

Seems the BTC Hashrate has not been downwardly affected as some people expected at this point.
I think that the price will remain below $20,000 for less than one week, but certainly no longer than one month. Next weekend will be decisive - it all comes down to Celsius. If by some miracle Celsius is solvent, that's an immediate trend reversal. If they aren't, there's another weekend of panic selling to liquidate them and then the trend reversal happens.

Hashrate isn't going to go down because the big miners know that this cycle is unlike the others in that it is being driven by debt, and there aren't any people who actually think that bitcoin is going to zero, so they are continuing to build out. I think the recovery from this cycle is going to be much faster than the previous cycles and prices will be above $30,000 in July.
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