[context: I started out WAY too open minded about crypto shitcoins and now I feel like I am trapped in shitcoin hell and everyone around me is also]
I am in a difficult position. I feel more or less mentally scammed by tons of shitcoin producers in the space, there are some that are just putrid garbage like ICP which I was stupid enough to buy at one point.
There are things that seem to look like ponzi-schemes made BY ponzi-schemers FOR ponzi-schemers aka Hex token.
There are "DAOs" who instead of being decentralized are ran by like 5 dudes, one of which is Omar Danani who rugpulled peoples life savings off QuadrigaCX and was imprisoned for it aka Wonderland.
The spectrum goes on though and you get to the "Top 10" stuff like polkadot, cardano, ethereum, etc...
Now you can say "sir you are a moron for even thinking about touching that garbage" and you would be technically correct, however I have become aware that the situation being revealed to me is much deeper than how it affected me in the past, and actually is a systemic risk for how it will affect other people in the future.
I for the most part have realized this risk in my own portfolio recently following FTX, I am committed now more than I ever have been to Bitcoin.
However many of my friends are pretty firmly caught in the idea that their shitcoin is going to somehow outperform bitcoin. There is of course nuance to this but for this matter we will leave it at that. Most of them are exposed to bitcoin in some way but (rather delusionally) proclaim that the specific project THEY are following will beat Bitcoin in some shape or form. Not to mention some of these are not even the "Top 10" for which I will specifically get into later. I don't know exactly how to NICELY tell my friends they are being delusional. How can I do this?
More recently I discovered that an online friend/co-worker, whom I don't know and just do some dev work for, is not only delusional about their favorite shitcoin but they think that Bitcoin has NO value...
You read that right, someone who likes ETHEREUM thinks bitcoin has no value, I mean is that just the pinnacle of delusion or what? The bloated software that desperately copied things from Bitcoin would make Bitcoin have no value...
Seriously that is what he claims to believe. It should come at no surprise that this guy literally cannot develop hello world in python if I gave him an hour to do so. He is not a developer yet he wants to make outrageous claims about the value of Bitcoin, it makes me sad honestly to see this level of delusion.
Because of this I feel compelled to IMMEDIATELY disconnect myself from any thing to do with this guy, he is not my friend so I don't really care about what he thinks about my opinion. But I do wonder, is it important for me to make a calm collected statement to him (and potentially a bunch of other shitcoiners) about the value of bitcoin and why it is important? Or will my efforts just go wasted, I am honestly tired of fighting for it and having people ignore what I say so I really would value peoples input on that.
These "Top 10" proof of stake bullshit coins are probably the worst of the worst, they not only take every opportunity to (without evidence) make claims that they are better in x way than bitcoin. Meanwhile they enforce ofac censorship:
https://www.mevwatch.info/ (60 - 90% of the network already enforcing it). Spend tons of pre-mined money on social media campaigns to lie about their level of decentralization: IOHK making posts claiming to be 100% decentralized (context: the founder of cardano claiming that Cardano is decentralized, like satoshi nakomoto sticking around for 20 years putting his name on everything bitcoin selling tons of bitcoin and claiming it is decentralized) [
https://heraldsheets.com/cardano-ada-is-now-100-decentralized/ ] They also kiss up to the SEC[
https://www.forbes.com/sites/stevenehrlich/2022/11/08/crypto-project-polkadots-three-year-engagement-with-the-sec-leaves-it-in-regulatory-limbo/?sh=5671b45cccf1 ] and PROBABLY (be honest with yourself) bribe those guys.
So let me know how I should deal with the several shitcoin-addicts in my life.
-recoveringShitcoinAddict / Bitcoin-most-imalist
Show Posts
