The Land of Dead Men Walking
When people refer to high-risk investment opportunities I often tell them about my dangerous adventures into the Pink Sheets, the over-the-counter and often unregulated segment of the Stock Market that should have a sign that screams "RUN AWAY FROM HERE!" These were the early days for me, and several scam companies later which literally ended in company officers with FBI mug shots, I can safely say that without a doubt the Pink Sheets are truly the "Wild West" of the investment world.
Needless to say, with this experience well over a decade behind me, I am reminded of a similar frenzy found here in the speculative world of cryptocurrencies... only the consequences of endless creativity have yet to correlate with actual intrinsic worth. I often tell people, that this isn't the Wild West, because it isn't. You don't cutthroat competition needing to prove worth, where missteps lead to failure. What we have upon us are dead men walking - the animation of worthless coins rising and falling with the motions of a generalized tide. Do we really need a FUCK Token, an ERC-20 made by someone, who literally noted he/she didn't give a fuck in their whitepaper? Probably not.
Welcome to the Zombie Apocalypse.
Now despite this thought, is it time to flee and run and await some impending doom? Doubtfully so, irrationality can prove to be much more persistent than the time our lives provide. But what is sure is that prudence remains the name of the game. Be smart about what you are speculating in.
- Identify Real World Use Cases
- Identify Relative Scarcity
- Identify Income Opportunities
- Identify Scalability
- Identify Mainstream Adoptability
Fortunately, if you're reading this as a Steemian, you already get the benefit of checking off each off these. Go find some more.
Try your best not to run out and buy your latest airdropped token. Whatever value they offer today simply might not be there come tomorrow.
If you are part of the crypto world, you tread amongst the dead, worthless coins that wander these planes. Yet they might also be coexisting alongside the vibrant, young technological wonders of tomorrow. Just make sure you're using your brain... while you still can. Because one day, there might just be a reckoning.