Would you bet your money on infant projects with the hope to be a millionaire?

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“You can always find someone who will give you enough rope to hang yourself.”

 

RANDOM | When your humans jump into cryptocurrencies - a sharing 

 

TL;DR - As I am afraid she will jump into nasty projects, I chose to watch her closely. I am secretly sticking my nose on her business. 

 

A few months old into blockchain and cryptocurrencies, I am aware that I am far from being proficient at explaining things, especially on the technical parts. I can explain how vaccines work or the steps in renovating a house without using jargon to a five-year-old kid, but not this. Not yet. 

The law of attraction is powerful, they say. 

I recently visited my elder sister, and to my surprise, I saw her taking a picture of her NRIC for Luno while listening to a guy shilling a crypto project on YouTube. 

EH?!

She told me that she just came across a YouTuber talking about buying BTC via Luno and one of her girlfriends talked about crypto recently. 

She talked about BINANCE too because the guy has mentioned it in many of his live, which of course, she had no idea about. 

I got worried because she is not the type who would invest time to understand complicated things. 

She is the "Woah! Many people are buying it so it must be good. Let me join them!"

I am the "Many people are buying it but why?" 

So as a good sibling that I should always be to my kind and generous elder sister, I guided her on the "how-to" part. 

"Why didn't you share the good news earlier?" asked her friend.

She was referring to why did I not tell them that I was into crypto much earlier. 

Well. Life principles, maybe. 

 

I will not give things that I will not even buy for myself. 

I will not discourage or encourage anyone to do or look into anything I have yet experienced myself. 

I will not be sharing anything risky with anyone unless I know they have a high-risk tolerance and due diligence is their thing. 

 

I know there are many shitcoins out there. Their aggressive marketing, including spending a lot of money to engage iNfLuEnCerS is one of the reasons more people know about them today. 

I never want her to fall for anything like MM, KIDS and MILF. 

I would be devastated if she ever experienced Prodeum 2.0.

But to my horror, she got into one of the "inu" projects. 

 

Man, I was worried. 

She told me how one of the Telegram groups planning to pump the price. The 'leaders' told everyone to pump the price to XX at YY on ZZ.

 

"To the moon!" was the constant slogan. 

 

So I warned her to be careful and drop her a few questions that probably made her ponder a little bit more;

"What makes you believe this is the genuine inner circle? What if some people actually coordinate this movement to get everyone's money?"

"Alright, say the rest pump to XX according to the specific date and time, but what if you guys have another group of people who will start offloading their tokens before the pump? Which side of the people do you belong to?"

"What's the use case of the token anyway?"

I have so much love and respect for my sister. Rather than telling her that she can't blah blah blah, I would ask and tell her things indirectly—a subtle warning. 

As of today, it is working wonderfully. 

There are times I purposely watch informative YouTube videos about crypto in her presence. Meh. 

"Why are you watching this? This is too deep and complicated. I don't want to know too much. I just want to buy."

AHAHAH!

And yes, that means I have to read about all the sounds-like-a-scam project that she innocently dropped during our meals. 

Oh, by the way, I found a very informative YouTube channel. Finematics - do check them out. I believe they deserve more subscribers! 

 

I am a curious person when it comes to things that I don't understand. I want to experience what it feels like to get into an infant project with trillions or more tokens supply. 

 

How would they manage expectations? 

What medium of communications will they use and why? 

 

So I found a few interesting infant projects. Some look promising, while the remaining are rather dodgy. 

I throw a small amount of money into it anyway. 

Strangely, it gave me a weird sense of "rights" to talk about suspicious projects because I stayed true to 

I will not discourage or encourage anyone to do or look into anything I have yet experienced myself. 

I know, sometimes, I ask myself whether or not I am normal. Yikes!

 

A few months ago, I randomly checked newly listed projects on CMC. 

One of the projects, let's call it X, was quite interesting.

I tried to read about the founders, but no information was available. 

Checked their subreddit and FB, nothing but shilling. 

Their subreddit is alive but good as dead. 

Nothing much in their whitepaper. 

The website is not helpful. 

 

"Whatever, let me get some of their tokens from PancakeSwap," I told myself. 

 

I checked their chart at least once every two weeks. 

And crap! I just realised they had updated their website. They have a Telegram group!

I was shocked that they already had more than 35,000++ members when I joined the group. 

Thanks to the group, I got to know one of their top wallets was compromised, so they are rushing to move all tokens from the current contract address to a new one. They also decided to knock off some zeroes. 

The migration was smooth. It was a hectic 36 hours. 

Of course, people went crazy. 

Imagine if you are the type of investor who doesn't think it is necessary to keep track of the project updates because "I am a long term investor. I am going to keep all these in my wallet. HODL. I will check the project progress when I have the time."

You would be shocked to found out that the charts went crazy, and you could not make sense of the value of the tokens in your wallet. 

The Telegram group hit 38,000 members in two days after I joined. 

I was enjoying the candlesticks movement. 

Charts of emotions representing thousands of humans - hope, optimism, fear, anger, doubt, and frustration.

Gambling. 

So I showed this graph to her. 

"This is temporary. People is shilling and pumping. It will drop soon."

I chuckled. 

 

That answer made me happy. 

 

PS:

  1. I found this book is perfect for a beginner - Charting and Technical Analysis by Fred McAllen. Have a read!
  2. ADA is my first love. ATOM, ONE and FTM are on my favourite list. 

 

Regulation and Society adoption

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