LUNAC Proof That There's Infinite Stupidity To Exploit
I have been following bitcoin and the shitcoin space since 2015, and it honestly feels like 3 decades with the amount of shit I've seen go down in the past few years. I was there calling out Bitconnect as a ponzi, and thinking other coins were still legit, but later I came to realise they're all just different flavours of dookie.
Some say I am a toxic maximalist, I just look at it as someone who actually paid attention to what's going on and connected the dots. I am so tired of hearing the same old stories, I am tired of being pitched, and I am tired of having to dispel the same nonsense over and over again.
I'll put it my opinions out there, but I have no ambitions to argue with people who want to line up to getting rekt. All I can do is enjoy their shitcoiner tears and I suppose that is enough.
The LunaC continues
I was there for the ETH chain roll back when they forked it into ETH and ETH classic and what a difference a few years makes hey? People have very short memories.
Now this time around instead of a DOA hack, losing a few million, it's an unsustainable business model blowing up near 50 billion in market cap.
I read the stories, I followed the tweets, I saw plenty of retail and institutions get absolutely rekt by the Luna ponzi. Some claim to have "gotten out" in time, but I don't believe this, no one wants to admit they're failures, the truth is very few were on the winning side of the trade.
How do I know this? The fact that Do Kwon is getting backed by the same LP's to try and do it again.
So apparently he is rebranding Luna and UST into LunaC and USTC the classic version and lord knows what's going to happen to them.
Then launching a fork of the same chain, airdropping a new shitcoin on holders of the previous coin to try and make them whole, while granting themselves a healthy second premise to market make and dump on retarded retail.
Shitcoiners gonna shitcoin
So here's how the game goes, the LPs that got rekt, are looking for a bail out, they've sold other positions, or borrowed heavily to fund a seed round and acquire an allocation of the new premine.
Once the new network is pushed live on exchanges, they'll attract retarde retail to claim their coins and exchanges are willing to buy up that new supply to create a market, so that's your first exit liquidity.
Exchanges don't care because they will make it back on fees at a later stage and see it as a loss leader.
The next phase will come with adding some DEFI tools on top of it to encourage trading and transaction, to drive fees. The need for fees means a need to buy the base token, the need to buy the base token give you immediate exit liquity.
Once the LPs are made whole, they will move on to the next grift and retail will once gain be stuck holding the bag.
At this point, I honestly believe that shitcoiners want to get rekt, they're standing with their arses bent over and love getting fisted. I was dumb enough to think that people actually wanted to learn, I was wrong.
Enjoy the lunac, you deserve each other
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."
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Posted Using LeoFinance Beta
Keep up the good work! All viewpoints are important.
Pleasure :)
Hahah not shocked at all! Ponzi’s are a lot easier to do right now with crypto and it seems like they have far more customers. Maddoff would be rock hard at the thought of this had this been possible when he was running his!
Posted Using LeoFinance Beta
If you're in a system where the yield doesn't come from the ability to sell products and services at a profit and returning the capital to the shareholders, then you are the yield
Eth Classic is dead now?
Posted using LeoFinance Mobile
Lol when was the last time you used ETH classic?
All the crypto is only real when you can buy a gatsby with the money you make.
If it gets too hypothetical, holding any number of tokens does not mean a thing. Since its value cannot be garuanteed then yes, some people create shitcoins, to get invested into and then rake in the money and the coin goes bust.
I do not like crypto and tokens who do not have utility other than holding a value then I skip it.
By that definition then no money would make the grade, money only has one use case to store value, and different financial assets just hold value in different ways over space and time. This idea that money must do all these things with smart contracts is just tech bro talk trying to fool people into giving them money for fantasy stories
For sure. Most of it, even regular old fiat monies has no inherent value. It is only a representation of energy transferral. If you are stranded on an island that is deserted of humans then you would have no use for money.
What I mean is that a lot of crypto "shitcoins" as you call them can't do anything.
Most of it is like that. I enjoy the play to earn space because of the economy of tokens and NFTs that allow you to not only build your collection, but to earn some income off your time spent.
I enjoy collecting HP because we know what it does to vote weight and initially RC. I know any crypto platform is only as strong as its community. It is decentralized so as long as Witnesses exist and people are using THIS space to chat than other places - then it is cool to have a good amount of HP!
It's unbelievable how much money flows towards these shitcoin markets and scam yield farms, and yet legit projects and solid tokenomic concepts get overlooked.
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Posted Using LeoFinance Beta
Thanks for the shill, but I don't do DEFI, it's a waste of time and is more like return free risk