There’s another big pit in the crypto world: financing. Every day, thousands upon thousands of new projects come out, and not a few of them are funded. My view is: don’t touch them. If you see one, back away immediately. This is even riskier than contracts. This isn’t even “risk”—it’s basically throwing money away. It’s no different from directly holding your money and throwing it into a fire; once it’s gone, you can’t get it back. It’s all scamming. It’s really hard for new people now—there are traps everywhere.
The crypto world has already become seriously deformed. If it’s financing, almost all of it is full of con artists. Back 8 or 9 years ago, ICOs were still pretty good. But now, financing almost never offers good opportunities. Out of 1,000 projects, it’s not certain that even one will turn out well. What you’re thinking is about making 100x gains; what they’re aiming for is your principal. Even something as popular as PUMP has broken below its issue price.
Just remember this: good financing isn’t something ordinary people can access. The financing you can access isn’t good for much—almost all of it is aimed at taking your principal. Do good projects need to come out and promote themselves to raise funds? Do they need to get people like you to invest through financing?
Don’t compare it to Bitcoin or Ethereum from before. Ten years ago, just about any one of them could multiply many times. Now, any random one can just go to zero. There’s basically no comparability. Today’s crypto world is a lawless circle with no bottom line—an all-out free-for-all era without regulation, full of scammers.
Someone might argue that they participated in something that went 100x. I can only say: you were lucky. These opportunities are now extremely rare—more or less like buying a lottery ticket. You might as well play contracts; at least you’ll hear the sound. This is just a comparison, and everyone should also avoid contract leverage as much as possible. Don’t touch options either—you won’t even understand how to play them.
Don’t look for one example. An outlier doesn’t mean you are the outlier. The probability that you’ll be the outlier is one in ten thousand.
Crypto newcomers: if it’s financing you can actually access, it’s a harvest. Stay away—immediately.
The crypto world has already become seriously deformed. If it’s financing, almost all of it is full of con artists. Back 8 or 9 years ago, ICOs were still pretty good. But now, financing almost never offers good opportunities. Out of 1,000 projects, it’s not certain that even one will turn out well. What you’re thinking is about making 100x gains; what they’re aiming for is your principal. Even something as popular as PUMP has broken below its issue price.
Just remember this: good financing isn’t something ordinary people can access. The financing you can access isn’t good for much—almost all of it is aimed at taking your principal. Do good projects need to come out and promote themselves to raise funds? Do they need to get people like you to invest through financing?
Don’t compare it to Bitcoin or Ethereum from before. Ten years ago, just about any one of them could multiply many times. Now, any random one can just go to zero. There’s basically no comparability. Today’s crypto world is a lawless circle with no bottom line—an all-out free-for-all era without regulation, full of scammers.
Someone might argue that they participated in something that went 100x. I can only say: you were lucky. These opportunities are now extremely rare—more or less like buying a lottery ticket. You might as well play contracts; at least you’ll hear the sound. This is just a comparison, and everyone should also avoid contract leverage as much as possible. Don’t touch options either—you won’t even understand how to play them.
Don’t look for one example. An outlier doesn’t mean you are the outlier. The probability that you’ll be the outlier is one in ten thousand.
Crypto newcomers: if it’s financing you can actually access, it’s a harvest. Stay away—immediately.