Has Anything Your Shitcoin Promised You Come True?
Every time I log in to Twitter to try and catch up with the latest drama I see a gang of people willing to shill you their shitcoin. It's a never-ending army of grifters and grovellers all looking to get you to buy into their narratives because that's all they've got, narratives.
You'll hear the same old story, when this partnership happens, when this update goes live, when this fork goes through, when this new dapp is launched we're going to the moon and we're going to flip bitcoin.
A short history
In the history of digital assets, nothing has come close and let's be honest where how much development work has bitcoin had in the past 10 years? Segwit to unlock lightning and Taproot for privacy and a few op code features.
Now if these upgrades, which I do feel are necessary were enough to keep boring old bitcoin on the cutting edge what makes you think all your convoluted updates are going to close the gap?
Bitcoin was never a technological race, it's an ideological race built on incentives, as long as we tick-tock to the next block, the incentives remain sticky and nothing will beat it. You can attack it all you want, but it hasn't failed to deliver for me, or anyone who has trusted the network.
It does what it says it does and no more.
Shitcoin embellishment
In the shitcoin space you're constantly being sold to, you need to get that new dose of hopium or you might just realise you're holding something that doesn't do what it says it does and leave the system.
The moment you leave the system, the more fragile it becomes because you are providing the exit liquidity and roping your friends and family in to do the same. Shitcoins are just MLMs but instead of selling you useless shakes, leggings, or half-decent pots, they're selling you useless data.
It's a construct of fiat, its a feature that you need to step on the backs of others to prosper, a feature many have adopted as they fight to survive. Everyone is clawing at one another, just in the shitcoin market, it's not as evident, because you can hide behind a keyboard and your GMs on Twitter.
When in fact all you're doing is hoping some sucker buys your bags from you so you don't have to be the sucker.
Not here to sell you on bitcoin
I am not here to sell anyone on bitcoin, frankly, I am happy people don't like it, don't understand it, think it's too expensive, hate it, want to fight it, ignore it or avoid it. If they did, it would be even harder to get so while they don't.
I pick up the premium, due to me taking the time to understand the difference between bitcoin and shitcoins, that's my reward for doing the work.
I have an outsized advantage even though I am someone of modest means trying to make it in the global South where poverty is not a possibility but the norm, the certainty. Bitcoin has done as promised, I don't have to trust it, I verify it all myself, bitcoin fulfills its obligations to me and everyone who uses the network.
Can you say the same for your shitcoin?
How's that working out for you?
I am genuinely curious, has your shitcoin done what it promised to do? Or are you still holding out hope for the next update, announcement, or partnership?
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, "I am a Jessie."
Let's connect
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I'm selling leg warmers! You want? 100000 sats for you!
what do you think of l2's like Optimism, Evmos, Arbitrum and Metis?
People are saying this will be the year of the l2 emergence.
I don't know.
What do you think?
I think these aren't layer 2 solutions but creating unnecessary complexity to try and pretend that its a solution in the making. All these layer 2s have their own chains, native tokens so how are they layer 2s and not separate environments? Because you can peg in a representative asset across the chain using a compromised oracle and smart contract bridge?
I don't see what's the point of these remora chains in terms of scalability when it's cannibalising the liquidity and adding more points of failure that can be attacked.
If you want a full breakdown of my arguments on the layer 2 scam you can find it here
I just read it and I think it was a great article.
Maybe I'll become a bitcoin maximalist some day, but I'm trying to accumulate what I can first to bring it back to BTC and ETH, that's always been my strategy.
My portfolio rn consists of:
40% FTM
20% ETH
10% OP
10% BASED
10% ATOM
10% EVMOS
I'd like it to go back to 33% BTC 33% ETH and 33% FTM like it used to be but I made many bad decisions to get where I am now.
Lol take your time, you'll get there at your own pace, I too used to be a massive shitcoiner, I had all the nonsense from the last cycles XRP, SIA, TRON, ADA, ETH and as I did the math on the opportunity cost of holding those coins and the risk you're taking it became a no brainer for me.
I am not going to encourage people to shitcoin, its part of the journey, most of us learn better once we have skin in the game and try these faulty products out first hand
How many shitcoins have failed to perform after 10 years, might be a better question to ask. Just the act of calling them shitcoins makes the argument totally tilted an biased. Any CRYPTO that even survives ten years is automatically going to go 100x or more. Facts.
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So yes, if a crypto lasts for a decade it would go up in price because of the network effect it can achieve and by currency inflation. That's the same for EVERYTHING. I could hold stock in company that has never made a profit but lives on debt and government bail outs and that stock would go up in price over 10 years
Has a big mac not gone up in fiat currency terms over 10 years?
If that's the basis of success, then how does a shitcoin offer anything different from other investments?
Let's take your argument of 10 years, part from bitcoin you have
2011 - Litecoin - 5388.3% up on launch price, but -90.9% down against bitcoin
2012 - Peercoin 100% up in launch price, but -99.3% when compared to holding bitcoin
2013 - Dogecoin - 92322.9% up on launch price - but -79.2% against bitcoin
2013 - NXT (Proof of stake) 95.4% up on launch price - but -99.9% against bitcoin
And I am being very generous here because no one gets in on launch price, and your argument still falls flat.
Facts!
This guy edicted just hopes he can benefit off stupid people. There is no natural affection for many of these crypto people and they talk about good community. They aren't a good community they are a community of shitcoiners who hope they can make money off stupid people and they do until the dumb people wake up and they always do which is why you never hear about peercoin anymore. Which is why hive is like 50 cents or whatever and when it was steem it was as high as $11.. bitcoin is higher and holding it's value greater than any shitcoin has been able to do
Most crypto people live off the the results of a few people and their hope runs away with their imagination. i believe i mentioned this before you take one successful story and then make everyone else think it's the norm.. on hive you got a handful of people who can maybe live off the rewards and the bullshit defi products and they are a very small percentile but it's enough to sell the bullshit story to new people but the old people have left and so it can never grow properly but they too dumb to get that part.
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