People can both be friends and enemies, and often we will mistake one for the other. Im sure most of us have heard famous lines like these: We arent here for the money, we want to build something special You are all valued members of the community We have a long-term vision for our project Lots of famous projects have repeated these ad nauseum only to dump their tokens/NFTs on their beloved “community”. LINK, SOL, UNI, Azukis, CRV, Reddit projects, the list is endless. This leads me to the mantra, crypto is not a ponzi, but it is pvp. Markets are made to be this way, its all transactional. There must be a winner and a loser, and in the event the entire community cant win then some (hopefully not all) will lose. Remember that when you wonder why a token dumps -40% just a day after going +100%. This is a casino yes and we are all up against the house, but there are other players at the table that are also competing. Why stay at the table when you can just get out with all your chips? So what can you do to protect yourself from becoming exit liquidity? Be nimble and take profits, you will be much happier knowing you made some money over none at all if things go south Do research. What are the tokenomics? What activity do you see on-chain? How do people react to developments? Are you seeing unnatural movement/manipulation? Dont dump your life savings. This goes without saying, but its easy to get caught up in the “community”. Dont invest with emotion, would you dump your bank account into a stock or startup? Probably not, take a step back and be rational Maybe this sounds cynical, but i do feel bad for people that are left bag holding because they trusted their “community”. Is community more valuable than wealth? To most people, no. Not at all. Be quick and be cautious, value your friends but also value your money. submitted by /u/marsangelo [link] [comments]
Cryptocurrency News & Discussion
People can both be friends and enemies, and often we will mistake one for the other. Im sure most of us have heard famous lines like these:
We arent here for the money, we want to build something special
You are all valued members of the community
We have a long-term vision for our project
Lots of famous projects have repeated these ad nauseum only to dump their tokens/NFTs on their beloved “community”. LINK, SOL, UNI, Azukis, CRV, Reddit projects, the list is endless. This leads me to the mantra, crypto is not a ponzi, but it is pvp. Markets are made to be this way, its all transactional. There must be a winner and a loser, and in the event the entire community cant win then some (hopefully not all) will lose. Remember that when you wonder why a token dumps -40% just a day after going +100%. This is a casino yes and we are all up against the house, but there are other players at the table that are also competing. Why stay at the table when you can just get out with all your chips?
So what can you do to protect yourself from becoming exit liquidity?
Be nimble and take profits, you will be much happier knowing you made some money over none at all if things go south
Do research. What are the tokenomics? What activity do you see on-chain? How do people react to developments? Are you seeing unnatural movement/manipulation?
Dont dump your life savings. This goes without saying, but its easy to get caught up in the “community”. Dont invest with emotion, would you dump your bank account into a stock or startup? Probably not, take a step back and be rational
Maybe this sounds cynical, but i do feel bad for people that are left bag holding because they trusted their “community”. Is community more valuable than wealth? To most people, no. Not at all. Be quick and be cautious, value your friends but also value your money.
submitted by /u/marsangelo
[link] [comments]