Some of us don’t like day trading or scalping a few percent here, a few percent there based on how the chart is looking.
We just like buying, holding and dreaming of the inevitable ‘promised land’ that we convince ourselves is coming if our iron fists can hold strong enough.
I used to be addicted to the thrill of depositing BTC into ABCD exchange, buying <insert random coin here > – often market buying – and withdrawing it to said coin’s wallet. Good times and rather addictive, but I was reckless and the definition of an ‘overtrader’.
These days I’ve matured (somewhat). I don’t care (THAT MUCH) if I miss the pump of the day. Crypto projects are like buses. Miss one and another one will be along in 10 minutes. Just make sure you get on the right bus. The bus to 10x City. Not the bus to Rektsville... population: you.
I’m such a cynic these days. Even to my own detriment. I’m stubborn or maybe I’m just clued in to how the game works. It’s one big club, and 99.9% of you ain’t invited.
Anytime I see a coin shilled on Twitter, especially if it’s completely out of the blue, alarm bells start going off in my head “must be a scam, must be a pump and dump, must be this or that”. Suffice to say, it’s all negative.
It makes my blood boil when I see guys on Twitter with 25k+/50k+/100k+ followers shilling illiquid trashcoins I know (for a fact) that they have spent a week or two quietly accumulating big bags of. Some of them get called out, most don’t. They have the added bonus of tweeting about how their “gem” 3xed. They never mention that it is because of the countless lemmings on crypto Twitter FOMO-ing into said illiquid project.
It does a 3x because it will do that with a mere 0.5 to 1 BTC worth of market buys (eating up the big Twitter account owner’s carefully and pre-placed sell orders in the process).
It’s a vicious cycle. The shiller doubles or triples his money, wins crypto clout as a ‘gemfinder’, shouts it from the rooftops, gets a bunch of new followers (lemmings) and he moves onto the next one to quietly accumulate. Rinse and repeat.
I have over 5,600 Twitter followers and that number is growing fast now my YouTube channel is gaining some traction. I’ll admit, I’ve seen (what I think is) a decent way down the rabbit hole, but I’m sure what I’ve seen is just the tip of the iceberg.
What I see is a centralized group of crypto ‘influencers’ pulling together in a perfect and highly profitable union. Just as long as no one in the secret Telegram group (max 5-6 members) has a pang of conscience and rats them out. I’ve seen that a couple of times. Pretty funny.
These ‘elite’ groups work with agents/sub groups (which are also hierarchical) and shill blitz the same startups across all platforms. It’s more obvious to see on Twitter, but it stretches as far as /biz, Reddit and YouTube.
Maybe I’ll go deeper into my journey down a portion of the crypto rabbit hole at a later time. Let me know if you want to hear about that. I got out by the way.
The scene is full of two-faced backstabbers, territorial vultures and generally scummy people, but they are making money hand over fist. I look at them no differently than the Indian scam call center guys. They are the crypto version of that.
I’m no saint. Far from it, but those places are literally hives of scum and villainy. You’ve never seen such hives of scum and villainy, Luke.
Be careful, it’s a jungle out there. No, no, it’s the Amazon Rainforest. At night. With no mosquito repellent, no map, no flashlight and no tent. But, hey, you knew that already.
Find me on YouTube (I’m new, so SUBSCRIBING is IMMENSELY appreciated): https://www.youtube.com/channel/UCx8l7guk4wfu481pJs-uu1g/
My Twitter: @cryptofrog202
