to be fair, all of this CeFi crap is against the core ethos of crypto.
No serious crypto person will tell you to use CeFi.
"Not your keys, not your coins" is the first rule of crypto.
No serious crypto person will tell you to use CeFi.
"Not your keys, not your coins" is the first rule of crypto.
Nobody used the term CeFi before this crash. It’s just a No True Scotsman excuse for crypto scamming.
A scam would be you buying a phone from Amazon and getting a brick. BTC is exactly what it describes, nothing more, nothing less.
If you got greedy enough to dump your BTC onto a centralized service for 3% yield, that's on you. As is the decision to buy BTC.
And that is what exactly - A store of value, a 10^n investment, a medium of exchange, a ledger, etc?
Think of it like poker. People lose money playing poker too. Is poker a scam? Nope. You might call it unethical or gambling, but unless a player is cheating, its not a scam. And any participant willingly agreed to the rules before playing.
Same with BTC. If you bought BTC, you willingly agreed to the rules. If you didn’t “win”, that’s on you, not the “game” itself.