A Unique Crypto Project I'm Bullish On! 5 Reasons!

Kevin Whitsitt

Content provided by Kevin Whitsitt. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Kevin Whitsitt or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

3+ y ago 7:15

M4A•Episode home

Click on the link below for the full blog post.

https://www.trustthelink.com/is-defichain-a-good-investment-2-warnings/

Hey wutzup, Let me start with a story. A Defi project called Compound rolled out a standard upgrade. But the upgrade accidentally gave out 90 million dollars to users. Then the founder issued a plea to please return the money, but keep 10%. The question is would you return the money?

In case you don't know Defi stands for decentralized finance and it's like an exchange on a blockchain and does banking stuff. There are many of these projects out there, but one that is interesting and I'm very bullish on and I want to talk about is Defichain!

When it comes to Defichain it reminds me of a book called “Good to Great” about companies that go from good to great. In a nutshell, you want the right people on the bus and it doesn't matter where the bus goes. Getting the right people is core to everything. Defichain has a team, that I've gotten to know over this year and I'm impressed.

A second reason I'm very bullish on this project is it's the only Defi project that I know of that is based on Bitcoin. Due to the project being on a turing in-complete blockchain it’s more simple, with fewer chances of something going wrong. That is somewhat important when it comes to money. Every other Defi project uses Ethereum that is Turing complete.

Turing complete would be like your neighbor that not only is a mechanic, but a plumber, electrician, carpenter, welder, snake milker, and legal bank robber.

If you were going to change your oil who would you want to hire? Your neighbor or someone who just changes oil and that is all he does? Yea, the boring one right? Your neighbor that is a legal bank robber would be great to have a drink with.

Another cool thing about Defichain is you don't have to worry about insane gas prices because it's Not on Ethereum. The third positive about Defichain is that it has a fairly large German community that supports it. It's unique, right?

A blockchain is only as powerful as the community behind it. Finding one that already has a strong community is a plus. The fourth thing I like about this project is it offers services that are in demand, so it's not just a meme token.

They have tokenized assets and put them on a blockchain. These would-be stocks, bonds, commodities, and others. They also do lending and have a decentralized exchange. They also have more ideas they are going to launch in the future when it comes to financing.

The fifth reason is it's different. Being different is a good thing when you are in a crowded field of crypto. Also, you can earn some nice rewards if you are involved in the project. Now, all projects out there have pros and cons and nothing is perfect.

Defichain does have 2 main challenges to overcome. I wrote a whole blog post on these challenges as well as where the rewards come from, how the loans work, and my strategy for the project. If you want to check out that blog post just click on the link below or go to

https://www.trustthelink.com/is-defichain-a-good-investment-2-warnings/.

I want to end with a question and it's something I've been thinking about. In every situation, I think about the house wins right? With gambling, the house wins over the players. Landlords win over the renters. Youtube wins over the creators. Countries win over landlords. Mother nature wins over countries.

296 episodes

#Business #Make Money #Kevin Whitsitt