Shitcoins: Junk Email 2.0
Everyone wants to get rich quick. They want to do as little work as possible for the highest payout. Welcome to capitalism.
The next mega-bull run for the cryptoverse is possibly starting right now. This got me thinking: what's it going to be like the next time around? We've all been assured that all the dumb money is gone for good and another ICO-like event will never occur. After all, that's what happened during the dot com bubble. Clearly the Dot Com bubble is the perfect comparison (not).
Wow! This did NOT age well! Kek!
I've spoken to this time and time again.
Dumb money will return to this space in its full idiotic fury. The only question left to ask is: what kind of trends will it make? Where will this shitcoin river of liquidity flow?
Already we see DeFi is a big candidate. Many seem to think that the party is over on that front, but I guarantee it hasn't even begun. Talk to me again when Bitcoin is trading over $100k and tell me that the DeFi craze is dead.
But what else?
This got me thinking... where else is all this desperate and greedy gambling debt going to flow to? Clearly, it will overflow into a lot of areas. Likely anyone that invests now into anything is going to turn a profit. It's when everything goes x10-x100 and the rest of the world FOMOs into the market that the real devastating losses and scams are forged.
This made me realize something very important.
Shitcoins are like junk email scams on super-steroids. Can you imagine what it would be like if even 1% of your junk email scams you received were actually legit? How absolutely insane would that be? Yet, here we are! It's legit already happening.
Everyone chasing the dragon.
If even 1% of junk emails were legit and someone truly wanted to send you millions of dollars for whatever reason, you can be damn sure that even "smart" money would be rooting through every email trying to find that diamond in the rough that was going to make them a millionaire.
How could you not?
Welcome to shitcoin mentality. Everyone wants to find the next thing that will x1000 and make them rich. They want it, and they want it now; instant gratification culture is a plague.
Conclusion
In reality, what we should be doing is making our investments politically. Invest in the communities, projects, and networks that we actually use or want to succeed. View these coins, not as potential get-rich-quick schemes, but rather for what they are: a replacement for corrupt legacy governance structures.
When money is flying everywhere, this problem is going to get very bad. Brace for impact and make sure your assets are secure.
And as always: beware the ultimate shitcoin!
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During my initial experience I avuft kodo to buy some shitcoins without my knowledge. Mistakes made by those new to the industry who know they are making money
After a few years, I hope that sooner or later the goldsmith will revive and maybe I can make cash 😁
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Yep. I am heavily invested in the shit-most-coin of our lifetime. I have not done anything about it yet. Hope getting into Hive was the best decision I made to wake up to understand about the shitcoins. Let's see how things will move foraward here for me.
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STOPTo support your work, I also upvoted your post!
Just one question, okay maybe two.
1, Is the coin Last image real?
Okay so it was three question.
wait one more question or two.
Does it come with a serial number or a block chain account number?
I have no idea what my ETH wallet has and now I have almost no idea what is the key of that ETH wallet. some 15-20 zero value coins are resting in peace.
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That is most shitcoins offering. Quick rich schemes, no matter the project is about.
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The interesting thing about hive is that it's not going to make anyone a quick buck.l You gotta buy it and hold it for the long term and hope it goes up. Of course, if you cash out when it goes up, you lose your future possibilities with it. I figure it's best to keep powering up so that you can make better curation amounts. When the coin goes up, you can cash in the profits on the investment...
If you have a metamask wallet, chance is high that you have some shitcoins there as "assets". Now you can trade them against ETH which comes quite handy.
Personally I think 2020 has been the year of abundance. A lot of money has moved around in the cryptoverse. I have had my fair share of dumb money and to a certain degree I am still getting. I don't believe dumb money will go away and like you said it is important that some of these monies move to projects that are worth something. Unfortunately not everyone cares about the fundamentals of blockchain technology. People just want to make money and they follow/buy the most shiny thing in the market
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