I learned from one of them that there's actually a site where the poo-iest of coins are listed on that don't make it on regular price ranking/tracking sites, sort of the poo version of Coinmarketcap or Coingecko and is therefore very accurately called poocoin charts.

To get to the point; What it means is there is a lot of interest in Crytpo, but a lot of money is not going (or staying) in Bitcoin or other solid projects like Ethereum or Uniswap. Why? Because it's coming from people who treat Crypto and investing like gambling. Either that, or they are absolutely convinced they've missed the boat when it comes to the top ranking Cryptos and are thus searching for "the next great thing". This isn't me speculating, I actually ask them all the time why they won't just stick to BTC or ETH. Because of this I was actually considering redoing my thesis and focus on Crypto with this particular trend, but who wants to go through all that again? So I'll just stick to this post here instead😂

I noticed a distinct difference between those that are new to Crypto (less than 2 years) and do stick to Bitcoin or other high ranking/already established Cryptos, and those that didn't even have single Satoshi and were all in on some vague project like SafeMoon or Mars or whatever. That difference is age. Every single Crypto hodler above the age of 35 I asked about these type of Crypros told me they've never heard it. They did trust me enough however to ask if I saw potential and whether or not they should invest in it, and I politely told them it was a worthless s*** with ******* ************* people behind it and pretty much was a f****ng sc*m and that they were right to stick Ethereum or Bitcoin. It did make me wonder for a moment if perhaps trust was the issue here. Maybe the younger people around me just didn't trust me or my judgement in Crypto enough. But no, that's not it. Some of them are even related to me. After a few long and annoying arguments, I found out that it was greed, pure shameless stupefying greed. They want to get the most out of their money in the quickest possible time. How can they do it? By looking for 🐎💩 low ranking, low cap coins which had a lot of social media support (aka fake accounts spreading lies online to reel the suckers in) and would thus inevitably skyrocket due to the sheer support and marketing the people behind the project said they were investing in. Which one friend of mine claimed made sense since everyone knew their name "Bonfire, not only their name, but even their slogan is trending sometimes: Stay Cozy".🤦‍♂️🙆🤷‍♀️ All I could do at this point was to say "if you can't find anything about the team behind it, don't put too much in since it's possibly a scam". I should elaborate that I said names and pictures on a site less than one year old did not really mean anything and the best verification you could have was if someone involved in the project had an impressive Crytpo resume. By that I mean someone who had worked before on e.g. Neo, was good at his work, well know and respected in the community and had done ok for himself financially that way, thus minimizing the chances he would risk ruining his reputation or him having money troubles and would therefore be involved in a heist. The good people at Bonfire had none of that, but they did have some cool high resolution pictures of themselves on their obviously expensive site and some flashy merch to go along with it. Needless to say this is how it ended, well, sort of ended. One person apparently didn't move to the new project and is still with Bonfire trying to keep it alive or whatever.

But here's the grand finale: That very same person had later on a 500 Euro investment turn into almost 25.000 with an absolute joke of a project I can't even remember the name of it. Something Flier, Flore, Flake or something, but anyway, as he showed me the charts and his wallet, I saw that 25.000 Euro on paper did not exactly equal 25.000 Euro in BNB, if converted on Pancakeswap it would at it's height total to just over 65 BNB which at the time was around 22.000 Euro and still impressive for such a short hodl but did he get all that out? Not exactly. Not only did he ride it out past the ATH and eventually only take about 17.000 Euro, I only then found out that was pretty much the total amount he lost before on Bonfire and some other garbage rug pull project he was involved in but never told me because he was ashamed🤯

This immediately reminded me of those gambler types, you know, the ones that flaunt his/her winnings to you in DMs or on their social media but stays silent about the losses. So what's the point this way I asked, just go throw your money in BNB, send it to Pancakeswap and just hope the winnings outnumber the Ls you take? Isn't that pretty much what you're doing? "Yeah, you gotta get lucky with the gains and hope you avoid the scams". The only reply I could possibly give was "Luck, hope? That doesn't sound like investing, that's just gambling". But no matter what I said, the younger generation of newcomers is for some reason just too convinced they missed the boat when it comes to Bitcoin or other established Crytpos, it's the older and more wise generation that's more interested in Bitcoin and thinking about the long run, even it they just got started with Crypto in 2020.

Who knows, future online posts may even look like "I wish I just held the 0.1 Bitcoin I got in 2019 instead of converting it to for some rug pull".