Not unlike my entrance into the crypto world roundabout the latter half of 2015, I am late to the party on this shitty investment post challenge but get ready to hear about my doozy.
So back in October of 2017, believe we may have been on the precipice of the crypto bull run and I was what you would call an unsophisticated investor. I didn't exactly understand the underlying economic principles of inflation concerning masternode coins but something about this idea of a "free money machine" drew me in. I spent a bit of time "researching" various masternode coins to eventually arrive at my decision to invest in one of the more bootleg options.
I invested in a altcoin called Memetic, formerly PepeCoin
The coin featured Pepe the Frog, the meme sensation of the "alt right" or so says the mainstream media. Now, that I think about it. The rebrand was probably due to some sort of intellectual property issue but I digress. I dropped about 2k for half a bitcoin on a damnable credit card.
I don't always make bad decisions but, when I do, I make a few of them.
Memetic is a proof-of-stake cryptocurrency with, as I said masternodes or I should say mastertoads in their case which kind of reminds me of Battletoads except the only one getting beat up on this situation is my wallet.
So, here is was thinking that I held the power of infinite tendies in my hand but it was sometime later that my dreams met the reality of inflation (and devs cashing out probably). I remember at one point they had the Kekdaq site running and I was able to create my own digital asset.
If I recall, was a Jerry Banfield meme, but the domain kekdaq.com appears to be in a state of direliction. Even so, if you look hard enough, you may find the link to the meme on the blockchain which is still up and running.
To be fair, there is still some activity and devs had been responsive but the fact remains that much of the value of the coin appears to have evaporated. When you think "To the Moon" is going to be your meme destination but turns out it was Hide The Pain Harold. #feelsbadman
In retrospect, I went from about $1500 to maybe a few hundred in terms of USD valuation. Now, I'm not a wealthy so it may not be much in the grand scheme of things but it certainly was enough for me to learn my lesson about economics and not becoming a shitcoin bagholder.
Appreciate you @enforcer48 for nominating me for this challenge. As you said, had fun writing it and like that it gave me a chance to finally use the astronaut meme template. I nominate @mys, @steemseph, and @creativetruth for the challenge of telling us about your most shitty investment.