The falacy of the free market

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Avatar for NotAgainPls
3 years ago
Topics: Cryptocurrency

I've been in the cryptospace long enough to watch the good and the bad about it. I've seen great projects become almost a stablecoin (Looking at you, ADA) and i've seen quite a few rugpulls (Bitconnnnnnnnnnnnnnnect, hi!).

What still amaze me is how people still try to analize the crypto market like it's wall street or a 100 years old market. News flash, it isn't. This is a market moved by sentiment, and, even if you don't want to acknowledge what im about to say, moved by the big whales. The big guys, the big players.

So, here's the problem im having while watching this space, while reading the new white-papers of the projects and of course, all the shilling and all the FOMO, and of course all those TO THE MOON with those projects that are clearly a scam (Im looking at you, SafeMoon).

People want a free market until the free market it's not fair for them

That's the problem. With all those hacking attempts, rug pulls, and blatant robberys people are saying, "this is not fair, we should get justice from somewhere".

This is not how it works. You either take the free market as it is or you just let an authority regulate it, which will then burn the concept of crypto itself.

By no means take my word for it, but if you wanna be successful in the long run trading these type of assets, stay on what's established. DO NOT gamble on those get rich quick schemes. Back some good projects that has real world uses; back coins that have been around for some time, not the new that only point it's to make the devs rich with their holdings and walk away. Be a smart INVESTOR, and INVESTMENT ITS FOR THE LONG ROAD.

If you're seeing an APR of 8% in a stablecoin or an APR of 4% on a established coin, that's almost triple of what any bank or ETF would offer you for fiat money deposits.

Let that sink in, and think twice before making an uneducated move into a coin that offers an absolutely obscene 248% APR. No, that's just plain gambling.

Please, for this space to keep growing, we need everyone to think. No gamble, think.

BTW i'll let you some projects for you to research, this is by no means financial advice, but i would like you to know what every token/coin do and why they're worth what they're worth:

Read about ADA

Read about VET

Read about BNB

Read about MATIC (And polygon network)

If you research about those coins then you'll get a better idea of what we're heading with cryptocurrency! That it's actually something that can change the world as we see it, and not something to gamble around with "virtual money".

Thanks for the read!

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Avatar for NotAgainPls
3 years ago
Topics: Cryptocurrency

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