money in crypto is secondary

Time & Resources are Much More Important than Money in Crypto (The Pegaxy Fallacy)

By Jimmython | cryptoinvesting | 7 Mar 2022

Folks who get rich and stay rich understand the concept of time vs. money, as in one is real and the other isn't. Or maybe better, one is real-ish and the other is, at best, a derivative. Or most simply, one deserves your mental energy and the other doesn't because if you focus on the one, the other just comes along with it.

Whatever. I tried to explain the shit. Let's just get into the story.

So the P2E game Pegaxy was supposed to be the second coming of Axie Infinity. The head honcho Corey Wilton said all the right things about fixing the tokenomics problems Axie had unearthed but was unable to quickly pivot and fix. (Part of that is due to Axie's size; the other part is that Axie founders are arrogant bitches using their VC gains for coke and hooker binges.) Wilton also gave the requisite warnings — "we're speculative/if we don't fix this shit we'll just be another Axie/I know we have challenges ahead of us" — the kind of "durr DYOR cuz I just random pleb" talk that doesn't dissuade people from your advice, but persuades them to listen more closely to you than they would an actual financial advisor because you are being "upfront and honest."

I believe Corey and the Pegaxy team are doing their best to actually follow through on their promises to make a sustainable economy and scalable game. So the notion of a scam or rugpull isn't really relevant here.

What is relevant is a point I bet most people haven't considered because the PoW vs. PoS argument is soooo 2018. Bitcoin won the PoW fight, and it's the only PoW coin accepted in the mainstream, and everything coming out now is supposed to be PoS. That's how it is.

But anyone who started playing Pegaxy for the PoS yield will quickly find that Pegaxy is a PoW game.

I'm on a Mac, which even PC master racers will tell you is exponentially more solid than PCs. Macs don't crash. They just don't. If you hear your Mac's fan turn on, it's really your fault for having like 1000 windows open and shit in the background. PC fans turn on if you type too fuckin fast. Macs can handle 5 or 6 big apps at once no problem. No problem, that is, unless you're fucking playing Pegaxy or any other of these fucking "scalable" blockchain games.

Let's get this straight. No blockchain or blockchain game is scalable at this point. Blockchains, all of them, L2s, everything — are slow, inefficient databases. Solana, Mina, whatever — they all fail when tested. I don't care what their TPS or their Fiverr marketer says. Put pressure on any blockchain today, and it will slow to a pre-AOL-Online-pulling-up-pron-jpeg levels.

I can't run a Pegaxy stable without crashing my Mac. That's right, the shit crashes my MAC. Multiple times.

But Pegaxy is supposed to be a scholarship game!

Nope. Not after VIS crashed because of Corey's shit monetary policy. In order to get solid returns, you have to race the horses yourself for PGX. 

Racing every horse requires 3 transactions. One to pull the horse into your stable, one to approve the horse to race, and another to race. It's a mind-numbing experience that quickly gets old when you try to pull up 3 or 4 windows/horses at once to speed up the process. Do this more than twice in a 5 minute period, and the Matic blockchain/shit Pegaxy programming begins to make your Mac sound like a bitcoin miner. If you have anything on in the background, say, some music to entertain yourself while you trudge through this gauntlet, you're assured of a crash before long.

Even after the VIS crash, Pegaxy has the best percentage yield of any game or yield farm in crypto. Right now, you can make like 4.5% APR per day per horse. The price to mint another horse drops with the price of VIS, so the yield you make from a timely entry stays at day 1 levels. As long as there is a bottom somewhere on these prices, everyone who is in Pegaxy right now and faithfully races will ROI and come into profit. Assuming there is a bottom somewhere and this shit doesn't just bleed out like 99% of shit P2E games. That's not a given by any means.

Because Pegaxy still works mathematically, many people are still coming here for the daily yield. What they don't realize is the time sink and resource sink they must absorb to get that yield. Honestly, I wonder if it's worth it. I can't even look up other projects while "racing" because Pegaxy fucking crashes my computer if I do research. Shit's ridiculous.

The point of all this — be sure you're taking the shit programming of slow blockchains and inefficient game coding into account when choosing a long-term project. This is why I wrote the Defi vs. Play to Earn article. Although the yield may be higher in P2E, automation that saves your time is worth giving up yield. Save your time and resources (mental and hardware), and you will certainly outpace any short term yield math that you think will make you richer. These P2E games are garbage right now, and every simpleton is coming out with one. Those bullshit NFTs deserve to be flipped, not played. The bullshit in this space is really disheartening, so save your mental energy for the good stuff. Don't chase yield like my stupid ass. Chase true innovation and good gameplay.



How do you rate this article?



I believe the best way to make money in any market is to cut out the scams and invest well with what's left. I traded up from 5 figures to 7 in the 2021 bull market with this strategy, and more importantly, kept that money during the bear.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.