I've been seeing a few articles about safemoon lately and it's inevitable downfall as a pyramid or ponzi scheme. Like many newbies, I too bought some safemoon tokens soon after I entered the cryptosphere...only about $70 worth (£50 conversion), but still for me at the time it was a blind leap of faith into what is turning out to be a hyped up chasm!
...mmm...grrr...I also thankfully bought other currencies before and after this misstep and hold a few £k across Eth, Polygon, DOT, CARDANO, SOL and LINK, slowly building a portfolio to diversify my investments, and so I see my Safemoon investment as an uneducated blip lol. A rookie mistake if you were.
I now steer clear of "to the moon", no utility meme coins and only invest in worthwhile projects that I have researched myself. So I give myself at least half a chance of achieving success with my investments :-)
Unfortunately, I still hold the dirty li'l bag of shitcoin, which depreciated drastically the moment I bought it down to about $25, not least because of the "taxes" it seemingly cost me to acquire the little invisible buggers! It's currently "worth" (and I use this term very leniently!) about $14 USD. I was a bit excited to see it go up to around $30 at the peak of the market, hoping it may claw it's way back to purchase price so I could get out without a loss. Ha! No such like. It's value is now seemingly dwindling towards extinction.
So my moral dilemma is this: Do I exchange the grubby little bag for a tiny piece of BTC or Tether or similar and send some other poor unsuspecting newb up the creek without a paddle, having lost a few bob myself on the deal, or do I just suck it up, and hodl the little crapshoot until the inevitable rugpull happens and I draw open the strings to find that the bottom has fallen out and the bag is now completely empty?
Would it be morally outrageous to sell now, given the already low value? Or should I set a new goal to go down in history as the longest hodler of shitcoin ever and perhaps become the last "honourable" woman standing in the largest pile of worthless poo :-)
Photo credit: Readymade
https://www.pexels.com/photo/empty-white-textile-bag-placed-on-marble-table-in-room-3850479/
We've all been there. I'm also holding a bag of shitcoins. No point selling. Who knows, maybe by a stroke of luck someone like Elon Musk may tweet about it in the future and it shoots to the moon. I can only hope. Btw, I love your imagery "up the creek without a paddle". I'm gonna borrow that. :)