Wen Moon, amirite?
I read an incredible satire article this morning that really made my day but also concerned me at the same time. Why did it concern me, you might ask? Well, because it's so believable it made me nearly cringe out of my skin. An investor is confused because he's not rich yet despite following all the pump and dump signals in a Telegram group.
Right off the bat, I was like... This is satire, but I've read stuff so similar that it almost seems real. If you take a minute to peruse the cesspool that is the CryptoCurrency subreddit, you'll see exactly what I mean. It's gotten a little better because I guess people are accepting that their bags of shit coins are not going to the moon...
However, some people still don't get it. They think crypto is a get rich quick scheme. People still join these pump and dump groups. People still fall for these hilariously obvious scam tokens and NFT projects. Then once they get dumped on, they're left "in it for the technology" while being completely dead inside.
The good thing is that we're in full on bear market and a lot of the noise has been reduced. Projects like SafeMoon that are literal Ponzi schemes will hopefully start dying soon. The fact that there's still people throwing tens of thousands of dollars into this clear scam hoping to get rich is... scary. It really makes legit projects look like a joke, when all you hear about is the price going to the moon.
I've also noticed a large uptick in people referring to these tokens as stocks or shares. That's all fine and dandy, call it what you want. It doesn't make it sound more legit if you're bragging about your SafeMoon shares to the boys. If you did 5 minutes of actual research you'd find out that tokens are not stocks or shares.
This is the irony though, most people get their financial advice from TikTok influencers these days. I even saw one the other day with some idiot talking about the price of DOGE going to $1000 and everyone holding getting rich. This is absurd, and hilarious but the sad part is... People are going to see that and go throw money in then cry when they get rekt.
“Look, I’ve been in the crypto stocks [sic] game for nearly two weeks, and I’ve never seen anything like this, ” Haskell said incredulously. “It’s like every time the group tells me to buy, the price fucking plummets a few short hours later. Personally, I think it’s these wall street fat cats trying to suppress the price; they’re afraid of the power that a behemoth of technology like SafeMoon possesses.”
NEARLY TWO WEEKS?! Better trust their advice.
This is how people act though, especially in bull season.
I sincerely hope you didn't come to this article to find out why you're not rich yet. If you did, it's because you're chasing an imaginary bag of money. There's no shortcut to wealth unless you happen to get lucky like that guy that bought $10,000 worth of DOGE and became a millionaire. Joke's on him though because he never sold and is not a millionaire anymore.
Dollar cost average. Don't chase insane gains. Keep level headed. Build your stacks while prices are low. Diversify. These are the way to wealth. Don't join pump and dump Telegram groups.
Don't let influencers or scammers dump their bags on you.
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