ChainCoin: RIP?

Now that the whole ChainCoin debacle is over, except the shouting, we can now offer a post-mortem. Max claimed all along it was not a pump and dump but a pump and HODL (Hang On for Dear Life). Not everyone believes him.

Many like Hive account@randomtandemsyt have accused Hive account@zedomax, the ChainCoin cult leader, of orchestrating a classic pump and dump and selling while telling others to hodl. Some claim that he was possibly in collaboration with others. Yes, there are even ChainCoin conspiracies out there! This being the internet, of course there would be conspiracy theories. There was a hillarious satire video made.

My own speculation is that Max was honest about what his initial intentions were, but things blew up way quicker than he ever expected. Once chain coin went to 100 times (or more) what he paid for it, "greed" kicked in and he sold a bunch. He did admit to selling some "to put on the buy wall". I labeled it as greed but more accurately it should be called sanity. Why would you not sell some at 100X the price you paid?

There are many lessons to be learned from this fiasco such as:

• Never trust people you don't know
• Always sell at least 10% of something that rapidly increases in price 1000% from what you paid
• Don't buy high, SELL high!
• Do your own research and make your own decisions. No groupthink.
• Take responsibility for your own actions (millennials of the stereotypical type/Bernie bros - this one's for you!)

Finally, if you've realized you've made a bad trade, learn from it and move on! There are always other opportunities out there. Go find them instead of wasting time blaming others. SAFEX is jumping up and down and waving its hands at you right now.