Markets Are Setting Up Major Rug Pulls

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Hey Jesspeculators

The crypto market is heating up, and as capital looks for a home and investors chase yields, they go further out of the risk curve. The higher the numbers go, the more the madness of crowds takes over. As that happens, research and prudence are throwing out the window as risk always pays off the short term, and people think they're getting shit rich on paper, which they are, but for how long?

The chase for yields is on, and I see 100% to 1000% returns thrown around like it mathematically makes sense that something like that can hold for longer than a week. As in the previous bull run, DEFI coins are the new ICO, and exit scams have just moved to rug pulls.

  • 2017 - WEN EXIT SCAM
  • 2021 - WEN RUG PULL

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It's the "same same" bullshit, just a new lick of paint and a fancy new name and people coming in with their first crypto ready to hand it over to unknown devs and get rekt.

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I've seen it before, I'll see it this run, and I am 100% sure I will see it should I be alive for the next bull run. We've hardly hit the heights of this cycle, and I've already seen a few rug pulls this year, and people don't learn.

I see influencers shilling total horse shit vapourware that DOES FUCKALL for the industry, nevermind the world. They pitch it like 100% APR on a coin you minting yourself without consensus is genius.

These rug pull coins range from the basic pump and dumps and mimic coins catching noobs off guard to really sophisticated operations where companies are set up; people are hired to make testimonials, websites are set up, stock photos are used as team members and a copy and paste smart contract is set up.

At least this time, it looks like these guys managed to hire copywriters who are native English speakers to formulate their bullshit pitches, so I'll give them credit for that. Even so, having been here 5 years, my bullshit detector is well calibrated, and it only takes a few questions for them to fall apart to any seasoned crypto holder.

Rekt gets you respect

I was here for the ICO boom; I bought tonnes of cancer curing shit coins that promised me infinite big macs and Lambos. Some I made out like a bandit at the expense of other later investors, and in others, I was the bag holder stuck with the shit coin.

Getting rekt as a crypto investor is something I think all of us have to go through; we all have a shit coin phase, we all believe the hype, and only when your shit goes to zero you realise how stupid you are; it's hard to realise your bullshit when the market validates your decisions.

So I say, invest in your shitcoins, get rekt, I'll be here to say I told you so and offer you some friendly advice on how to start picking up sats and rebuilding your portfolio and your confidence.

1000x pain

Look, I know what it feels like to struggle; I understand the appeal of taking your small money and 1000x'ing it. It's going to solve all your problems, but that's just such a dark outlook on life that you feel you need to take such major risk and feel nothing to rek other bag holders along the way to secure your future.

Investing is not about mooning; that's gambling; investing is about saying I am building something sustainable for my future. If you want to gamble, by all means, don't let me stop you; use your capital as you see fit, but don't say you weren't warned.

Markets will support stupidity for now

We already see stupidy manifest in the NFT market, and it's only i's day 30% into this bull cycle if we compare it to previous runs. It's only going to get dumber from here. In a bull run, the dumb money becomes the smart money; they make all the unrealised profits, they ride up the frenzy they live on the madness of crowds.

However, when things correct, it's those who quietly took the unpopular bet that ends up sitting with the bags. So trade your NFT's, jump on that next DEFI coin, shill your next pump and dump it's all good.

Post your profits too, make it real for yourself and the rest of us.

I've been here long enough to know those profits don't stretch as far as you may think. Easy money leaves just as easy as it comes, and while you may be making money, it takes more effort to keep, maintain and grow it long term.

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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37 comments
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(Edited)

Damp eeet! hahahaWhuhahaha! I might post some profit updates again soon! I like to keep a low profile bro!!! 😎

I've been through 3 rug pools so far, 1999, 2008, and 2020, always a great buying opportunity, bring it on 2021!!!

I just posted some unrealized profits for u here: (since it goes along with @hawaiialoha's post!) lol https://peakd.com/diy/@coininstant/re-hawaiialoha-qra8q3

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I don't know much about the stock market but I feel like it's so systematic to the economy that it cannot be allowed to drop in the lightest. Bitcoin is slowly starting to get sucked into that realm too as more companies start to add it to their balance sheets and as ETFs are launched and it becomes entrenched in the financial system

As for alt coins I don't see that same moat so they can correct in violent ways

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Nice, that's what I was thinking you meant. I was the one bundling stocks, crypto's, and alts together, because a lotta time they do trend in the same direction. What's good for one is often good for the other. I was just making a fun post trying to lighten the mood. Hopefully this alt season goes on longer than expected, but all good things, like the best alt seasons do Come to screeching halts and violent ends eventually because history repeats itself, I think I learned that one from you. After the bull market is over, enter the bear! Then we can do it all over again. yea! Thanks for the input!!

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FUCKALL

Typical South African! 😃

Most times we need to get rekt to bring us back to earth, it brings out a calm side of us which we are trying to suppress.

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LOL been a while since we had a big draw down so naturally we get more cocky as it keeps going up! 20% draw downs is when I may feel the pain but the ones we have now are child’s play lol

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only i's day 30% into this bull cycle if we compare it to previous runs

Based on the previous runs of the bull cycle, when do you think the bull cycle will end?

It definitely as an interesting article. I haven't bothered with most shitcoins or the possible easy money in the NFT world. I prefer NFTs with use cases such as staking them to generate crypto. It only requires time and I haven't spent fiat so if it goes to zero, I will chalk it up to bad luck.

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All else being equal which they are not if I look at comparisons for 2017 I’d say we top out around 250k and dip hard down to 30k before settling at 50k and then we March on to the next cycle

However with all that’s going on I. The world today who knows

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Thanks for your prediction. I honestly think it is hard to predict since the banks and larger corporations are also entering. If a BTC ETF takes off, we can see a massive pump in BTC and I think I saw a forecast of 400k by the end of the year.

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That’s also a possiblity but what I’m seeing now is investing in crypto companies and if the coin base IPO is successful we will see more of that as well as index funds and ETFs that invest in companies and products and not so much the asset keeping capital in their system and not flowing into Cryptos just around it

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No risk no reward! Getting rekt is painful but so is staying in fiat at times.
Per wiki:
It was estimated that inflation reached 500% during 2019. According to Trading Economics, the annual inflation rate in Zimbabwe was 540% in February 2020. The annual inflation rate had risen to 676% in March 2020 with a bleak economic outlook due to the effects of a drought in 2019 and the COVID-19 pandemic.

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Staying in fiat is getting rekt just a bit slower and it’s a gaurentee that you will lol

I think anything above 20% inflation is already devastating enough never mind 500%

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i think the thing is too, money from all over world flying into these coins, and even if a lot of them are "not rational", people are believing in them b/c they have no other options, and gen z and millennials got fucked by the boomer economy in the u.s., so it's their own way of asset inflation to give themselves some net worth ... it's like warring economic systems, monetary realities

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This time is different...lol

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Lol it always is, not saying I'm super experienced but I've seen 2017 and man did I get the taste slapped out of my mouth big time

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thank you very much for the post,have a great day and good mood

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Did any of the crypto shills from 2017 face any consequences? Bunch of scammers.

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Not that I know of most of them got off free or with a slap on the wrist while the devs also pocketed big and moved on! No one cares

In crypto no ones coming to save you only you can save you

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yeah, if there are no consequences, it is bound to happen again and again.

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Absolutely but I’m not one for regulation but criminal operations need to be stopped regardless of the currency they are using.

The same thing happened in the dot com bubble and that stuff was far more regulated than crypto. I just think that it’s an unfortunate part of growth, I don’t know how we curb it though seems like something we will always have to deal with

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I have been reading that about a month seems to be the max you should stay in any of these. I guess Cub would be the exception. But the newer ones, if you don't get out before that 30 day mark you are probably going to end up rekt.

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A month sounds about right and then they just spin up a new one, there were these HODL smart contracts on ETH a while ago like P3D that did the same thing abd people still get in, it’s just trying to recycle money and see if you can come out with a bigger stack before it all falls over

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Hmm, very interesting. Yeah, it seems like these are popping up all over the place.

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good post, it's hard to be rational when you buy something and it goes up 100% in a day or two ... "cancer curing shit coins", haha, omg ... i have been buying in myself, alts in the top 100, so hopefully there is some quality there, and not too many scams, but who knows ... i mean it's also like, if something is valued at $1 Billion dollars, is that cheap or expensive these days? the way money is treated as trash, who can even tell

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Lol exactly I hate this idea that market cap means value or trade volume or branding! Bear sterns had value and it imploded over the space of a month, so did many companies and projects they jusy do it with more collateral damage

In crypto we have yet to have our big project implode like a wire card, worldcok or theranos but it’s coming! Mark my words there will be billion dollar blow ups and retail will only find out when it hits the news and by then it’s too late to salvage anyrbing

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for sure, and just now there are about exactly 100 coins with a value over $1,000,000,000 ... BOOM, BOOM BOOM ! ! !

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Very true
In the bull run, dumb money becomes smart money.
People can influence the market for a short time to show you the gain to attract you. But that’s a scam. Knowing the project and its roadmap is important and doing the research is paramount priority archer than just going with the flow.

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I love that one it’s so true trying to be prudent and rational will see you lose out on gains but if you have left the market with a healthy profit by all means totally respect that

But this thing is only going to get worse it tends to suck in a lot more people and capital before it dips, like it was to get to a point where it’s so stupid in valuation whay number thatis I don’t know

!BEER

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I think this crash is going to be bigger than we have seen previously because of all the leverage. It could get pretty insane. I'm moving into stable coins a lot sooner than most people would expect.

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I hope I don’t fuck up this bull run but I am trying to push it really hard, much harder than I did in 2017 so I can secure at least for the next 4 years at least maybe more

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My strategy is going to get to a certain amount and then stay partially in crypto and partially in stablecoin and keep earning off of them but also take a loan against them to live off of. I actually just watched a pretty good video about this. I will make a post on it.

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