Sunday, April 18, 2021

Scams are Thriving in Crypto

If you weren't already aware, we are deep in a raging crypto bull market.

When money is flowing freely and new incoming people are greedy and looking to make quick money, it is the perfect environment that breeds scammers.


There are many "projects" coming out now that are absolute scams.

Worthless, pointless projects raising money / selling worthless tokens.

I won't hold you back from making money from stupid retail buying these trash.

Free / easy money is still money, after all.



Also, there is nothing wrong *TRADING* meme coins / shit coins.

Like DOGE, LTC, ETC, BCH, etc etc.

But if you don't understand the technology and the crypto landscape, it may not be a good idea to HODL.

I won't hold you back from making money from stupid retail trading these trash.

Free / easy money is still money, after all.


Personally, I am not invested in any scams. If I do farm scams, I stay in Pool 1 and immediately dump the scam token into the Pool 2 brainlets. Bless the Pool 2 farmers for being my exit liquidity.

I also do not trade the meme / shitcoins this cycle, because I am just focused on my holdings. I made a lot of money trading LTC, BCH, BSV, TRX, XRP in the past - there's really nothing wrong with doing it. However, my experience from last bull market was that splitting my attention to trading actually negatively affected my overall PnL since it diverted my attention from the more important bigger picture of the markets. I am focused on improving my method and to continually keep winning.



When the selling pressure from early players overwhelms the buying demand, that's when things goes to shit.

We're literally in genius season where everyone is making money on anything.

You actually need to be certified mentally retarded to lose money in this market.


What makes me sad is knowing that a lot of really stupid / naive people are going to lose a lot of money.

But I suppose, this is the exact kind of market that will brutalize the stupid / naive people.


I wish you guys all the best in playing this crypto cycle,

But I know for a fact, not everyone is going to make it.

I hope you at least, have fun.

3 comments:

  1. Any thoughts about Alchemix - scam or real project?

    ReplyDelete
    Replies
    1. it's a very real project - the big question is whether its high inflation is justified and whether such dilution is helpful or harmful.

      Delete
  2. G any thoughts on the email leaks phising from celsius?

    ReplyDelete

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