In bull markets where Bitcoin's programmatic supply reduction starts to take effect and the new issuance and increased scarcity drives up the price. The majestic creature that is BTC and its NGU technology move to higher highs than ever before.
It's a cycle that has been repeated three times, and as this whale continues to get larger, you'll find scavengers hanging in and around it trying to catch a meal or actively suckling off the whale like a parasite.
You want coins, we got them, and if we don't you can make your own. It's a proverbial coin frenzy and no ones thinking clearly because it pays not to think.
Momentum chasing isn't investing
As capital flows into the space promising riches to all who may follow the path, it creates momentum and with momentum nothing matters but narrative. The cash was already going to flow in, it's all about how you going to divert it into your shitcoin, so you can get out of your position.
The basic premise of the game is to secure a position in said token, then shill it and hope that others will come in to overpay for your position so that you may leave with the profit.
It's adults paying digital hot potato and trust me, they'll say anything to convince you otherwise. Why wouldn't they? It's in their best interest to lie and bend the truth.
No actual product is created, no real value is created, like any piece of shit, it just passes through the system to be excreted on the side. However, while the shitcoin is still in the digestive system of the market, some are able to extract nutrients from it.
I don't know what it is but it sounds good
A lot of retail have zero clue whats potting is, they read the marketing material and it sounds good so here's my money. No that other smart guy or that guy that used words I don't understand said it so it must be true.
Crypto is just a broken telephone he said she said game of information asymmetry and it's painful to watch. No one takes the time to deep dive because if they did the casino wouldn't be worth trillions.
It's all a close your eyes hail mary.
It's financial nihilism, I see it all the time. People feel their life is shit, who gives a fuck I'm putting it all on black coin or red coin and if it hits and 1000x I'm going to live like a king or queen.
Can't calculate profits
We see everyone remotely attached to the space with their cock and balls out stroking it thinking they are a genius. Look at how many dollar monies my crypto mahnies is wurf, deep durp duurp I are the smartest.
Look at all the proof of my unrealized gains and you can do it too, it's such a play on those who are financially ignorant.
Despite what you may think a large majority of crypto holders are actually underwater based on opportunity costs. These are all short term trades, you dip in, you dip out back to fiat.
You then have to hope you beat your fiat inflation hurdle rate for that year after you've met your tax obligations. That is on the off chance you did make a profitable trade or several profitable trades even worth taxing.
No one is coming to save you
Since there is no regulation here, people can make any outlandish claims they want to sell their coin and those in the know go along with it because it's profitable.
I am not against making money, by any stretch of the imagination but I would respect the crypto space a lot more if they cut the shit. Oh, it's banking the unbanked, oh it's the metaverse, oh it's creating new opportunities.
It sure is great cherry-picking even when the vast majority of it is gambling and outright scams.
There is nothing wrong with gambling, that's why we have casinos, people should be allowed to do what they want with their money. All I am saying is, say this is a complete gamble.
We are playing musical chairs with fiat-backed rehypothecated casino chips and only a few of us will end up with the chance to cash out.
I'll never get burned or ill make it back on the next one
Everyone thinks they're too smart to get burned, or if they did get burned they'll make it back. It's the gambler's mentality, I'll win it back on my next dice toss or hand of blackjack.
You think you're master of your own destiny but you're really funding other masters by a different name.
My warnings continue to fall on deaf ears because the market validates the opposite.
Everyone is just pretending, and no one wants to say shit in risk of offending
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, "I am a Jessie."
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