It’s Okay to Miss out on 400 UNI

It’s Okay to Miss out on 400 UNI

UNI is not your daily bread.

Most people in the crypto space are going crazy for defi. The interest for Bitcoin, XRP, XLM to moon have been dampened ever since the herd have started chasing the yield farming lifestyle.

If you go to Binance Telegram chat, all you see is people talking about buying shitcoins hoping to pump hard and going all in on Defi coins.

But the quality of the conversation isn’t really appealing. The same goes when you visit TRX Telegram group. It’s like a bunch of kids who skipped school.

Think Logical

It’s hard to be logical when you see the boys claiming 400 UNI which gives them an instant stimulus check of around $1200-$1500 at its peak.

We all wish we used Uniswap before right?

But the gas fees are a hindrance except for the dolphins and the whales who have had no problems, because they already have enough funds to pay for gas.

Now, think logical.

Defi is a hot concept, but so was ICO. ICO burned many investors and greedy noobs, and the same is happening on Defi space: yam, hotdog, pizza, bzrX getting hacked and more.

At this point, being with defi is more like gambling. You pray you get lucky.

Defi Tokens Will Kill Bitcoin

Defi tokens won’t kill Bitcoin. Ethereum won’t kill Bitcoin.

The truth is, if Bitcoin fails, the cryptocurrency space would plummet. Bitcoin is still the most prominent coin and the goal of cryptocurrency is to be your own bank: hold your own money and send money across the globe at a lower cost and without a middleman.

Even though the tide is changing with Defi trying to dismantle the Centralized Finance, most of the buzz now would settle down once the threat of regulation kicks in and once a new craze starts.

In addition, last survey indicated that people are on Defi not because of the technology or to disrupt the traditional finance but to gain $$$.

Furthermore, Ethereum might not even turn out as the king of Defi if Eth 2.0 fails to deliver.

The gas fees aren’t fun anymore.

I’d try yield farming or get into Defi if better coins or other blockchains come to it.

That’s where Harvest comes. Harvest — a Binance-backed defi — will soon launch their yield farming by allowing you to deposit cross-chain cryptocurrencies like Bitcoin and XRP.

Using XRP will definitely allow more people to try Defi as the transaction fees won't kill you. 

But the main point is Bitcoin can’t be toppled over that easy by altcoins or Defi coins especially when smart contracts like the Clarity programming language by Blockstack allows developers to create Defi tokens and dApps that are anchored on Bitcoin security.

Muneeb Ali, Blockstack CEO said:

『We believe that the new Stacks 2.0 blockchain, currently in testnet, holds one solution for making Bitcoin the foundation for smart contracts in Web 3.0. With the Clarity smart contract programming language and the Proof of Transfer mechanism, developers can build smart contracts in a much more secure language that is predictable, decidable.』

It’s also true that Bitcoin holders dream of moonshots but at the same time, they hold Bitcoin because they believe it’s the future store of value and a future for faster payments (lightning).

More Space for Growth

It’s okay to miss out on 400 UNI.

Don’t beat yourself. Don’t take out loans to buy UNI.

There’s still a lot of space for growth. More Defi projects will be created. Your job is to do a diligent effort to check which ones won’t exit scam, and you have to probably get an insurance for high risk yield farming.

Don’t join the crowd out of emotions especially if you are broke to start with.

UNI is not your instant magic unicorn to a better life, though you might get lucky again if you buy it low and it surges as high as YFI. But we don’t have the crystal ball.

Just one thing is for sure, if you are the breadwinner, don’t make UNI as your daily bread.

Save for emergency fund first. Don’t throw away all your hard earned cash out of FOMO.

This post was originally published on my blog

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Yaki Moto
Yaki Moto

I'll trade diamonds for sunscreen and a tiny house away from trolls ◾ writes about self-care on ◾ subscribe to my Telegram channel:

Hodl, Write Crypto! Aye sir
Hodl, Write Crypto! Aye sir

Satoshi has summoned me to keep writing about digital currencies and blockchain. I'm a good girl. I said yes.⚡

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