Bitcoin Baby - Day 28 "I bought Shiba Inu, and now I feel dirty."

So there I sat ....my Noiscash feed being flooded with Shiba Shit posts for the Shiba Inu Poo coin.....

I mean the DOGE joke was fun for....while a week or 2 maybe, but this cheap Binance made replica of a joke coin ...this could not be happening...these people could not be serious....could they?

I get that DOGE is sort of the Anonymous of the already anonymous crypto establishment....it´s the anti-capital hero we all wanna hide behind.

Well that´s sort of a fair use case....but then came the doge knock offs:

DogeCash (DOGEC) – DogeCash, which launched in October 2018

Kishu Inu (KISHU) – This Doge Knockoff is an ERC20 token launched last April

UnderDog (DOG) – The Doge clone, or should it say Doge clown on PancakeSwap

Doge Token (DOGET) – The “green” and efficient version of Dogecoin

DogeFi (DOGEFI) – Of course the Defi community could not stay behind and oops there was DogeFi which trades on Uniswap and CoinTiger

Did you guys & dolls have enough already.....nope because there is more dog poo coming.

DogeSwap (DOGES) – Because one Defi Doge was not enough and who does not want high returns for "YielFarming on Uniswap, Finexbox

And if you are more a cat person...well no worries there is also....

MonaCoin (MONA) – The cat-meme cryptocurrency established in January 2014

CAT ($CAT) – Launched by Tiger King Star Carole Baskin earlier this year

Just like in real life there is a DOG(e) for everyone, as Doge is the Degen mans best friend. But I got caught in the Siba Inu popularity contest. This ERC-20 Doge imitator has been all over the place and honestly, I would not even spend time reading it´s white paper or trying to understand it´s use case.

This self-proclaimed “Dogecoin killer” had a great run last couple of weeks and I went against my nature. I bought some just to make a profit, and although James Cook says differently I felt dirty. And Yes I made a very nice profit out of that trade, but somehow it didn't feel like it was my style.

I tend to invest in projects I believe in, and of course I will take into consideration that they are down when I buy so I can make a quick 10-20% and sell.... so why did I feel like I did something unethical?

Well, I guess it´s because many noob degens are fomoing into this poo coin and investing more than they should because smart marketers are telling them this is a golden opportunity to get rich quick...and I am making money off of their gullibility. Or at least that´s what it feels like.

But maybe CryptoMaverick was right and I am just an old-fashioned crypto entrepreneur.

CryptoMaverick:

"I think we all tend to forget that the crypto space is very unique and driven by non-traditional mechanisms.

One on end you have solid projects (SOL, ETH, DOT, etc) and then you have the shit (meme coins).

There is money to be made in both and hence you need to have a strategy for each.

Note that, you can't make money even in solid coins if you don't have a strategy. As it is understood now by most, that the meme coins are driven by communities and social media platforms. They are the key drivers of these coins and also the markets in general.

Having a diversified portfolio of coins (BTC, ETH, Altcoins, Meme coins), allows one to take profits depending upon which coins are going up."

And on top of that GhostOnChronic caught me not practicing what I preach.

I always say trading is about not getting emotional, don´t let the market influence your plans, keeping your eye on the prize, and no hindsight. And indeed I guess when it comes to trading I should just take what I can get because my gains are always some other poor person's losses.

It´s like when we were kids and we played with marbles, would you say no to an opponent that you knew you would beat? No of course not, if they are big enough to play against you, they are big enough to lose their marbles to you....right?

So the whole trading business is just a couple of grown-ups playing a virtual game of marbles and they are always playing “keepsies”. 

Disclaimer

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