Hey Jesspeculators
The crypto market is heating up, and as capital looks for a home and investors chase yields, they go further out of the risk curve. The higher the numbers go, the more the madness of crowds takes over. As that happens, research and prudence are throwing out the window as risk always pays off the short term, and people think they're getting shit rich on paper, which they are, but for how long?
The chase for yields is on, and I see 100% to 1000% returns thrown around like it mathematically makes sense that something like that can hold for longer than a week. As in the previous bull run, DEFI coins are the new ICO, and exit scams have just moved to rug pulls.
- 2017 - WEN EXIT SCAM
- 2021 - WEN RUG PULL
It's the "same same" bullshit, just a new lick of paint and a fancy new name and people coming in with their first crypto ready to hand it over to unknown devs and get rekt.
I've seen it before, I'll see it this run, and I am 100% sure I will see it should I be alive for the next bull run. We've hardly hit the heights of this cycle, and I've already seen a few rug pulls this year, and people don't learn.
I see influencers shilling total horse shit vapourware that DOES FUCKALL for the industry, nevermind the world. They pitch it like 100% APR on a coin you minting yourself without consensus is genius.
These rug pull coins range from the basic pump and dumps and mimic coins catching noobs off guard to really sophisticated operations where companies are set up; people are hired to make testimonials, websites are set up, stock photos are used as team members and a copy and paste smart contract is set up.
At least this time, it looks like these guys managed to hire copywriters who are native English speakers to formulate their bullshit pitches, so I'll give them credit for that. Even so, having been here 5 years, my bullshit detector is well calibrated, and it only takes a few questions for them to fall apart to any seasoned crypto holder.
Rekt gets you respect
I was here for the ICO boom; I bought tonnes of cancer curing shit coins that promised me infinite big macs and Lambos. Some I made out like a bandit at the expense of other later investors, and in others, I was the bag holder stuck with the shit coin.
Getting rekt as a crypto investor is something I think all of us have to go through; we all have a shit coin phase, we all believe the hype, and only when your shit goes to zero you realise how stupid you are; it's hard to realise your bullshit when the market validates your decisions.
So I say, invest in your shitcoins, get rekt, I'll be here to say I told you so and offer you some friendly advice on how to start picking up sats and rebuilding your portfolio and your confidence.
1000x pain
Look, I know what it feels like to struggle; I understand the appeal of taking your small money and 1000x'ing it. It's going to solve all your problems, but that's just such a dark outlook on life that you feel you need to take such major risk and feel nothing to rek other bag holders along the way to secure your future.
Investing is not about mooning; that's gambling; investing is about saying I am building something sustainable for my future. If you want to gamble, by all means, don't let me stop you; use your capital as you see fit, but don't say you weren't warned.
Markets will support stupidity for now
We already see stupidy manifest in the NFT market, and it's only i's day 30% into this bull cycle if we compare it to previous runs. It's only going to get dumber from here. In a bull run, the dumb money becomes the smart money; they make all the unrealised profits, they ride up the frenzy they live on the madness of crowds.
However, when things correct, it's those who quietly took the unpopular bet that ends up sitting with the bags. So trade your NFT's, jump on that next DEFI coin, shill your next pump and dump it's all good.
Post your profits too, make it real for yourself and the rest of us.
I've been here long enough to know those profits don't stretch as far as you may think. Easy money leaves just as easy as it comes, and while you may be making money, it takes more effort to keep, maintain and grow it long term.
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."
Let's connect
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