Enjar Rants About Stupid People Getting Wrecked In Crypto
Psst. Come here. I don’t know you but if you buy into this NFT project that is in prerelease it will have a floor of 145.6 octillion zebras. You will be set for life!!!!!! Some days I log into crypto and I just fail to understand how people acquire such wealth to lose it all within hours. It really is stupid -- let’s talk about it.
Every day I load up my many different applications and there is always some kind of spam. Perhaps you have noticed it as well (oh I know you do.) Out of all the hundreds or even thousands of NFT and game projects setting to release “soon.” There is a special type of project that has an army of bots trying to get you to buy into it. Sometimes by people who are using a referral link other times not so much.
They usually want you to join some bat shit crazy insane high body count graveyard of Discord or Telegram group. Where you guessed it. It’s deader than your dating life is on a Friday night. I know we are all so shocked.
I’m rather thankful at some point Discord has added a report function. People sending spam about shit I’ve never heard about by people I’ve never talked with. They are getting slapped with the red button left and right like I’m trying to save the world. Afterward, I move on with my day. I have gravy boats to drink after all.
I usually consider these projects the kinds where people are about to get wrecked on. They normally are in presale. They are always trying to sell people something new I swear almost daily. They have a flashy website and try to hype up their creditability as a top-notch floppy taco operator. Even though a GameStop would not even make them a manager which is quite sad.
They try and sell stupid people on the concept that everything has a 100 rainbow cornflake diamond encrusted floor. There is just one issue. None of the items have ever sold and this whole “floor” thing is frankly what stupid people tell themselves while they are getting their piggy bank drooped into the Nile River.
In the crypto gaming world what I consider to be the floor is what an NFT will burn for. If and it’s a big if the currency or item you get from it has enough of a volume that you have a high chance of selling what you got for burning it. Otherwise, you might as well be trying to turn in a Radio Shack coupon at Starbucks.
The amount of people who seem to buy in big with every cent they have just to sell within hours of a project releasing is mind-blowing. I understand there is the whole opportunity cost and trying to negate the risk. However, when you are trying to buy into a presale release of a project just to dump it the moment it's out you are no longer thinking in terms of actual good life decision making. You are thinking like a greedy monster.
You are trying to bank off hype and FOMO where somehow you think all the jellybeans in the kingdom will be yours if you just sell fast enough. These kinds of people get wrecked over, and over, and over again. They might as well just set up shop in the red line district as they seem to be into that sort of thing.
It is not a shock as we have seen in the past few days when people start posting and talking about massive losses in yet again another NFT project. A project that was spammed into oblivion into every open orifice the bots could find.
I stay the heck away from such projects because there is nothing to them other than a bunch of stupid people all chanting to themselves the floor, the floor. No, the floor is lava and you are burning on it. This is why when people go to sell at the floor price thinking they are getting 1000 times more ice cream they get NOTHING. The items sit there not selling as they never had a real market.
While it’s understandable everyone is struggling these days with the state the world is in. It’s hard to find happy people who are not being affected by overzealous regulations and other nonsense. Getting rich quickly never worked or came at such a cost down the road it was not worth it. It didn’t work before. It’s not working now. It’s not going to work later. If for some stupid reason it worked once chances are it’s not going to again and throwing all your beans into the can rolling the dice a second time is not going to end in a beanstalk.
I prefer to stay away from projects that have yet to prove they have anything that is working. Game development is hard. Most game projects fail. They can cost a heck a lot more than people were expecting. They can take years longer than a developer had planned for. They are high risk. Don’t believe me? Look at a non-blockchain game called Star Citizen.
The number of times I’ve heard of a blockchain game coming out that could not even transact day one a blockchain is maddening. Yet people rush in to give them all their money while they failed the most basic part of being a blockchain game in issuing to people's wallets NFTs they bought during the presale. Many times those games just shut down shop and disappear.
Other times those games are so busy trying to sell you even more junk they found in a porta-potty that they have more games in development and on the way. Despite the fact, their first game has zero gameplay and just a bunch of bots hyping it up in DMs and elsewhere.
Sometimes the smartest thing to do in this space is just to wait. Most people in life don’t need a Lambo to be happy. Besides Lambo's suck, you drive that thing 2 feet off the parking lot and it needs 5 oil changes and 20 sets of new tires. Don’t worry they only disassemble the entire engine for an oil change. I’ve never owned one and you would have to be quite stupid to want that kind of money-burning junk.
I wish people would stop trying to FOMO so hard into things giving every scam out there endless chances to line their pockets with gold. There are endless opportunities out there. There is always time to do proper research into the background of projects and anyone public people behind them. Enough projects boom and bust out the door while taking years to find real value. That it will be shocking at all the opportunities people bought in at the top, sold at the bottom, and missed the long-term increase in value over time that those buying in “late” got.
Finally, don’t be afraid of some profit-taking on occasion. I once bought into a game rather cheap on ETH. I didn’t like it or ETH so I sold some of the best items I had. That funded me playing 6 other games at the time a couple of years back. That game only just started making a comeback. Most sold not when I did but at the lowest point possible. They also sold everything instead of just a couple of items. I look forward to some more profit-taking in that game soon. It’s also not a game I talk about and I don’t plan on doing so.
The content was written by @Enjar. This is about the general state of affairs and not targeted towards any NFT or game project.